Notice of becoming a substantial holder

Sydney Level 2, 5 Martin Place, Sydney NSW 2000 Australia, GPO Box 3698 Sydney NSW 2001, Telephone 02 9994 7000
Melbourne Level 19, 31 Queen Street PO Box 297, Flinders Lane, Melbourne VIC 3000 Telephone 02 9994 7000
Brisbane Level 6, 215 Adelaide Street GPO Box 3234, Brisbane QLD 4000 Telephone 07 3136 5400
Perth Level 26, 140 St Georges Terrace, Perth WA 6000 Telephone 08 6466 9613
Adelaide Level 7, Suite 714, 147 Pirie Street, Adelaide SA 5000 Telephone 08 8427 9511

Challenger Limited ABN 85 106 842 371 | Challenger Group Services Pty Limited ABN 91 085 657 307
Challenger Life Company Limited ABN 44 072 486 938 AFSL 234670 | Challenger Investment Partners Limited ABN 29 092 382 842 AFSL 234 678
Challenger Retirement and Investment Services Limited ABN 80 115 534 453 AFSL295642 RSE Licence No. L0001304
Challenger Mortgage Management Pty Ltd ABN 72 087 271 109 | Challenger Securitisation Management Pty Ltd ABN 56 100 346 898 AFSL 244593
Challenger Investment Solutions Management Pty Ltd ABN 63 130 035 353 AFSL 487354

challenger.com.au
Level 2, 5 Martin Place
Sydney NSW 2000 Australia
GPO Box 3698
Sydney NSW 2001

challenger.com.au

Telephone 02 9994 7000

23 March 2026

The Manager
Company Announcements Office
ASX Limited
Level 27
39 Martin Place
Sydney NSW 2000

By electronic lodgement

Dear Sir/Madam
Re: Notice of initial substantial holder – Ventia Services Group Limited (VNT)
We attach a notice of initial substantial holder in Ventia Services Group Limited. This notice is given by Challenger
Limited and each of its associated entities named in Annexure 2 to this notice.

Yours faithfully


Linda Matthews
Company Secretary

2. Details of voting power
Class of securities (4)
Ordinary Fully Paid
3. Details of relevant interests
4. Details of present registered holders
The persons registered as holders of the securities referred to in paragraph 3 above are as follows:
Holder of relevant interest
Challenger Limited (and its entities
listed in Annexure 2)
As above
As above
As above
5. Consideration
Holder of relevant interest
CashNon-cash
Refer Annexure 2Refer
Annexure 1
Challenger Limited (and its entities listed in
Annexure 2)
Ordinary Fully Paid securities
purchased and sold on market and
acquired via off market transfer by
Challenger Limited (and its entities
listed in Annexure 2) and obtains a
relevant interest by virtue of section
608(3) of the Corporations Act 2001
(Cth).
5.03
%
Person entitled to be registered as holder
(8)
Class and number of securities
Same as persons votes41,561,754
Holder of relevant interestNature of relevant interest (7)Class and number of securities
Registered holder of securities
Ordinary Fully
Paid
41,561,754
The holder became a substantial holder on
Number of securitiesPerson's votes (5)
Ventia Services Group Limited
Voting power (6)
19/03/2026
603 253 541
Challenger Limited (and its entities listed in Annexure 2)
To CompanyName/Scheme
ACN/ARSN
1. Details of substantial holder (1)
Name
Notice of initial substantial holder
Form 603
Section 671B
Corporations Act 2001
ACN/ARSN (if applicable)
J. P. Morgan Nominees Australia Pty
Limited
14,160,372 (Ordinary Fully
Paid)
The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in on the date the
substantial holder became a substantial holder are as follows:
The nature of the relevant interest the substantial holder or an associate had in the following voting securities on the date the substantial holder became a substantial holder are as follows:
106 842 371 (Challenger Limited)
Citicorp Nominees Pty LimitedCiticorp Nominees Pty Limited4,937,598 (Ordinary Fully
Paid)
HSBC Custody Nominees (Australia) LimitedHSBC Custody Nominees (Australia)
Limited
18,480,974 (Ordinary Fully
Paid)
J. P. Morgan Nominees Australia Pty Limited
Date of acquisition
The consideration paid for each relevant interest referred to in paragraph 3 above, and acquired in the four months prior to the day that the substantial holder became a substantial holder is as follows:
BNP Paribas Nominees Pty Limited BNP Paribas Nominees Pty Limited 3,982,810 (Ordinary Fully
Paid)
Consideration (9)Class and number of securities
Refer
Annexure 1
Refer
Annexure 1

6. Associates
7. Addresses
Signature
print namecapacity
sign here
date
(6) The person's votes divided by the total votes in the body corporate or scheme multiplied by 100.
(7) Include details of:
(a) any relevant agreement or other circumstances by which the relevant interest was acquired. If subsection 671B(4) applies, a copy of any document setting out the terms of any relevant agreement, and
a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or
arrangement; and
(b) any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to which the relevant interest relates (indicating
clearly the particular securities to which the qualification applies).
Linda MatthewsCompany Secretary of Challenger Limited
23/03/2026
DIRECTIONS
(8) If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write "unknown".
(9) Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, become entitled to receive in relation to that
acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its
associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.
See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.
(1) If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and trustee of an equity trust), the names could be
included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of
each group, with the names and addresses of members is clearly set out in paragraph 7 of the form.
(2) See the definition of "associate" in section 9 of the Corporations Act 2001.
(3) See the definition of "relevant interest" in section s608 and 671B(7) of the Corporations Act 2001.
(4) The voting shares of a company constitute one class unless divided into separate classes.
(5) The total number of votes attached to all the voting shares in the company or voting interests in the scheme (if any) that the person or an associate has a relevant interest in.
Challenger Limited (and its entities listed in
Annexure 2)
Level 2, 5 Martin Place, Sydney NSW 2000
N/AN/A
NameAddress
Name and ACN/ARSN (if applicable)Nature of association
The addresses of persons named in this form are as follows:
The reasons the persons named in paragraph 3 above are associates of the substantial holder are as follows:

Annexure 1 consists of 7 pages and is referred to in Form 603 signed by me and dated 23/03/2026
Linda Matthews
Transactions:
Company
Name/Scheme:
Ventia Services Group Limited (VNT)
As at:19/03/2026
Class of security:Ordinary Fully Paid
Date of ChangeHolder of relevant interestNature of Change Consideration
Number of
Securities
Person's Votes
Affected
19/12/2025
Challenger Limited (and its entities listed
in Annexure 2)Opening balance Adj
u282,859,176 29,979,21329,979,213
19/12/2025
As aboveBuy1,216,166 209,170209,170
19/12/2025
As aboveBuy164,793 28,34328,343
19/12/2025
As aboveBuy279,427 47,74947,749
19/12/2025
As aboveBuy1,225,840 209,474209,474
19/12/2025
As aboveBuy220,544 37,68737,687
19/12/2025
As aboveBuy141,829 24,23624,236
19/12/2025
As aboveBuy18,317 3,1303,130
19/12/2025
As aboveBuy72,190 12,33612,336
19/12/2025
As aboveBuy171,434 29,29529,295
19/12/2025
As aboveBuy352,249 60,19360,193
19/12/2025
As aboveBuy240,312 41,06541,065
19/12/2025
As aboveBuy63,201 10,80010,800
19/12/2025
As aboveBuy486,838 83,73283,732
22/12/2025
As aboveBuy235,133 39,71039,710
22/12/2025
As aboveBuy20,653 3,4883,488
22/12/2025
As aboveBuy150,755 25,46025,460
22/12/2025
As aboveBuy50,011 8,4468,446
22/12/2025
As aboveBuy9,018 1,5231,523
22/12/2025
As aboveBuy543,371 91,76691,766
22/12/2025
As aboveBuy70,451 11,89811,898
22/12/2025
As aboveBuy527,296 88,77588,775
22/12/2025
As aboveBuy2,621,369 441,331441,331
22/12/2025
As aboveBuy1,325,252 223,118223,118
22/12/2025
As aboveBuy174,948 29,45429,454
22/12/2025
As aboveBuy91,661 15,48015,480
23/12/2025
As aboveBuy492,139 82,14482,144
23/12/2025
As aboveBuy1,247,451 208,215208,215
23/12/2025
As aboveBuy164,512 27,45927,459
24/12/2025
As aboveBuy52,613 8,7828,782
24/12/2025
As aboveBuy59,946 10,00610,006
24/12/2025
As aboveBuy67,902 11,33411,334
24/12/2025
As aboveBuy72,863 12,16212,162
24/12/2025
As aboveBuy11,167 1,8641,864
24/12/2025
As aboveBuy111,259 18,57118,571
24/12/2025
As aboveBuy52,368 8,7418,741
24/12/2025
As aboveBuy48,539 8,1028,102
24/12/2025
As aboveBuy39,195 9,7779,777
24/12/2025
As aboveBuy23,970 4,0014,001
24/12/2025
As aboveBuy10,538 1,7591,759
24/12/2025
As aboveBuy17,823 2,9752,975
24/12/2025
As aboveBuy3,199 534534
24/12/2025
As aboveBuy1,036 173173
24/12/2025
As aboveBuy11,844 1,9771,977
24/12/2025
As aboveBuy5,727 956956
24/12/2025
As aboveBuy22,754 3,7983,798
24/12/2025
As aboveBuy102,746 17,15017,150
29/12/2025
As aboveBuy166 2828
29/12/2025
As aboveBuy516 8787
29/12/2025
As aboveBuy925 156156
29/12/2025
As aboveBuy3,671 619619
29/12/2025
As aboveBuy9,672 1,6311,631
29/12/2025
As aboveBuy8,492 1,4321,432
29/12/2025
As aboveBuy16,586 2,7972,797
29/12/2025
As aboveBuy10,959 1,8481,848
29/12/2025
As aboveBuy11,759 1,9831,983
29/12/2025
As aboveBuy1,803 304304
29/12/2025
As aboveBuy17,962 3,0293,029
29/12/2025
As aboveBuy8,450 1,4251,425
29/12/2025
As aboveBuy7,834 1,3211,321
29/12/2025
As aboveBuy6,348 1,5941,594
29/12/2025
As aboveBuy3,866 652652
Company Secretary of Challenger Limited
Page 1 of 7

Date of ChangeHolder of relevant interestNature of Change Consideration
Number of
Securities
Person's Votes
Affected
29/12/2025As aboveBuy1,702 287287
29/12/2025
As aboveBuy2,876 485485
29/12/2025
As aboveBuy1,909 322322
30/12/2025
As aboveBuy9,760 1,6311,631
30/12/2025
As aboveBuy16,737 2,7972,797
30/12/2025
As aboveBuy11,059 1,8481,848
30/12/2025
As aboveBuy11,866 1,9831,983
30/12/2025
As aboveBuy1,819 304304
30/12/2025
As aboveBuy18,126 3,0293,029
30/12/2025
As aboveBuy8,527 1,4251,425
30/12/2025
As aboveBuy7,905 1,3211,321
30/12/2025
As aboveBuy6,387 1,5941,594
30/12/2025
As aboveBuy3,902 652652
30/12/2025
As aboveBuy1,717 287287
30/12/2025
As aboveBuy2,902 485485
30/12/2025
As aboveBuy521 8787
30/12/2025
As aboveBuy168 2828
30/12/2025
As aboveBuy1,927 322322
30/12/2025
As aboveBuy934 156156
30/12/2025
As aboveBuy3,704 619619
30/12/2025
As aboveBuy8,569 1,4321,432
31/12/2025
As aboveBuy29,494 4,9574,957
31/12/2025
As aboveBuy21,301 3,5803,580
31/12/2025
As aboveBuy15,891 3,9863,986
31/12/2025
As aboveBuy9,704 1,6311,631
31/12/2025
As aboveBuy4,266 717717
31/12/2025
As aboveBuy1,297 218218
31/12/2025
As aboveBuy417 7070
31/12/2025
As aboveBuy4,796 806806
31/12/2025
As aboveBuy9,211 1,5481,548
31/12/2025
As aboveBuy41,596 6,9916,991
31/12/2025
As aboveBuy27,489 4,6204,620
31/12/2025
As aboveBuy4,522 760760
31/12/2025
As aboveBuy45,036 7,5697,569
31/12/2025
As aboveBuy19,647 3,3023,302
31/12/2025
As aboveBuy7,217 1,2131,213
31/12/2025
As aboveBuy2,321 390390
31/12/2025
As aboveBuy24,270 4,0794,079
31/12/2025
As aboveBuy21,200 3,5633,563
02/01/2026
As aboveBuy10,758 1,7901,790
02/01/2026
As aboveBuy13,883 2,3102,310
02/01/2026
As aboveBuy14,899 2,4792,479
02/01/2026
As aboveBuy2,284 380380
02/01/2026
As aboveBuy22,748 3,7853,785
02/01/2026
As aboveBuy10,710 1,7821,782
02/01/2026
As aboveBuy9,923 1,6511,651
02/01/2026
As aboveBuy7,987 1,9931,993
02/01/2026
As aboveBuy4,904 816816
02/01/2026
As aboveBuy2,152 358358
02/01/2026
As aboveBuy3,642 606 606
02/01/2026
As aboveBuy655 109 109
02/01/2026
As aboveBuy210 35 35
02/01/2026
As aboveBuy2,422 403 403
02/01/2026
As aboveBuy1,172 195 195
02/01/2026
As aboveBuy4,652 774 774
02/01/2026
As aboveBuy12,254 2,039 2,039
02/01/2026
As aboveBuy21,005 3,495 3,495
05/01/2026
As aboveBuy18,386 3,029 3,029
05/01/2026
As aboveBuy1,845 304 304
05/01/2026
As aboveBuy8,018 1,321 1,321
05/01/2026
As aboveBuy6,471 1,594 1,594
05/01/2026
As aboveBuy3,958 652 652
05/01/2026
As aboveBuy1,742 287 287
05/01/2026
As aboveBuy2,944 485 485
05/01/2026
As aboveBuy528 87 87
05/01/2026
As aboveBuy170 28 28
05/01/2026
As aboveBuy1,955 322 322
05/01/2026
As aboveBuy947 156 156
05/01/2026
As aboveBuy3,757 619 619
05/01/2026
As aboveBuy9,900 1,631 1,631
05/01/2026
As aboveBuy8,692 1,432 1,432
05/01/2026
As aboveBuy16,978 2,797 2,797
05/01/2026
As aboveBuy11,217 1,848 1,848
05/01/2026
As aboveBuy12,037 1,983 1,983
05/01/2026
As aboveBuy8,650 1,425 1,425
06/01/2026
As aboveBuy21,408 3,580 3,580
06/01/2026
As aboveBuy41,806 6,991 6,991
06/01/2026
As aboveBuy27,628 4,620 4,620
06/01/2026
As aboveBuy29,643 4,957 4,957
Page 2 of 7

Date of ChangeHolder of relevant interestNature of Change Consideration
Number of
Securities
Person's Votes
Affected
06/01/2026As aboveBuy4,545 760 760
06/01/2026
As aboveBuy45,257 7,568 7,568
06/01/2026
As aboveBuy21,307 3,563 3,563
06/01/2026
As aboveBuy19,746 3,302 3,302
06/01/2026
As aboveBuy15,991 3,986 3,986
06/01/2026
As aboveBuy9,753 1,631 1,631
06/01/2026
As aboveBuy4,288 717 717
06/01/2026
As aboveBuy7,254 1,213 1,213
06/01/2026
As aboveBuy1,304 218 218
06/01/2026
As aboveBuy425 71 71
06/01/2026
As aboveBuy4,820 806 806
06/01/2026
As aboveBuy2,332 390 390
06/01/2026
As aboveBuy9,257 1,548 1,548
06/01/2026
As aboveBuy24,392 4,079 4,079
07/01/2026
As aboveSell22,652 3,797- 3,797
12/01/2026
As aboveBuy312,637 51,294 51,294
12/01/2026
As aboveBuy403,519 66,205 66,205
12/01/2026
As aboveBuy432,971 71,037 71,037
12/01/2026
As aboveBuy66,362 10,888 10,888
12/01/2026
As aboveBuy661,119 108,469 108,469
12/01/2026
As aboveBuy311,199 51,058 51,058
12/01/2026
As aboveBuy288,428 47,322 47,322
12/01/2026
As aboveBuy232,560 57,111 57,111
12/01/2026
As aboveBuy142,446 23,371 23,371
12/01/2026
As aboveBuy62,608 10,272 10,272
12/01/2026
As aboveBuy105,931 17,380 17,380
12/01/2026
As aboveBuy19,010 3,119 3,119
12/01/2026
As aboveBuy6,156 1,010 1,010
12/01/2026
As aboveBuy70,373 11,546 11,546
12/01/2026
As aboveBuy34,053 5,587 5,587
12/01/2026
As aboveBuy135,236 22,188 22,188
12/01/2026
As aboveBuy356,222 58,445 58,445
12/01/2026
As aboveBuy610,561 100,174 100,174
13/01/2026
As aboveBuy101,561 16,315 16,315
13/01/2026
As aboveBuy38,558 6,194 6,194
13/01/2026
As aboveBuy797 128 128
13/01/2026
As aboveBuy1,562 251 251
13/01/2026
As aboveBuy1,033 166 166
13/01/2026
As aboveBuy1,108 178 178
13/01/2026
As aboveBuy168 27 27
13/01/2026
As aboveBuy1,681 270 270
13/01/2026
As aboveBuy797 128 128
13/01/2026
As aboveBuy735 118 118
13/01/2026
As aboveBuy598 143 143
13/01/2026
As aboveBuy367 59 59
13/01/2026
As aboveBuy162 26 26
13/01/2026
As aboveBuy274 44 44
13/01/2026
As aboveBuy50 8 8
13/01/2026
As aboveBuy19 3 3
13/01/2026
As aboveBuy181 29 29
13/01/2026
As aboveBuy87 14 14
13/01/2026
As aboveBuy349 56 56
13/01/2026
As aboveBuy909 146 146
13/01/2026
As aboveBuy58,907 9,463 9,463
13/01/2026
As aboveBuy115,044 18,481 18,481
13/01/2026
As aboveBuy76,032 12,214 12,214
13/01/2026
As aboveBuy81,579 13,105 13,105
13/01/2026
As aboveBuy12,506 2,009 2,009
13/01/2026
As aboveBuy124,575 20,012 20,012
13/01/2026
As aboveBuy58,640 9,420 9,420
13/01/2026
As aboveBuy54,344 8,730 8,730
13/01/2026
As aboveBuy44,074 10,536 10,536
13/01/2026
As aboveBuy26,842 4,312 4,312
13/01/2026
As aboveBuy11,796 1,895 1,895
13/01/2026
As aboveBuy19,957 3,206 3,206
13/01/2026
As aboveBuy3,579 575 575
13/01/2026
As aboveBuy1,158 186 186
13/01/2026
As aboveBuy13,259 2,130 2,130
13/01/2026
As aboveBuy6,418 1,031 1,031
13/01/2026
As aboveBuy25,479 4,093 4,093
13/01/2026
As aboveBuy67,118 10,782 10,782
13/01/2026
As aboveBuy89,136 14,319 14,319
13/01/2026
As aboveBuy174,070 27,963 27,963
13/01/2026
As aboveBuy115,044 18,481 18,481
13/01/2026
As aboveBuy123,442 19,830 19,830
13/01/2026
As aboveBuy18,918 3,039 3,039
13/01/2026
As aboveBuy188,468 30,276 30,276
13/01/2026
As aboveBuy88,725 14,253 14,253
13/01/2026
As aboveBuy82,232 13,210 13,210
Page 3 of 7

Date of ChangeHolder of relevant interestNature of Change Consideration
Number of
Securities
Person's Votes
Affected
13/01/2026As aboveBuy66,689 15,942 15,942
13/01/2026
As aboveBuy40,612 6,524 6,524
13/01/2026
As aboveBuy17,847 2,867 2,867
13/01/2026
As aboveBuy30,204 4,852 4,852
13/01/2026
As aboveBuy5,422 871 871
13/01/2026
As aboveBuy1,755 282 282
13/01/2026
As aboveBuy20,063 3,223 3,223
13/01/2026
As aboveBuy9,705 1,559 1,559
14/01/2026
As aboveBuy2,396 387 387
14/01/2026
As aboveBuy7,392 1,194 1,194
14/01/2026
As aboveBuy13,236 2,138 2,138
14/01/2026
As aboveBuy52,571 8,492 8,492
14/01/2026
As aboveBuy138,484 22,370 22,370
14/01/2026
As aboveBuy121,540 19,633 19,633
14/01/2026
As aboveBuy237,360 38,342 38,342
14/01/2026
As aboveBuy156,870 25,340 25,340
14/01/2026
As aboveBuy168,323 27,190 27,190
14/01/2026
As aboveBuy25,802 4,168 4,168
14/01/2026
As aboveBuy257,028 41,519 41,519
14/01/2026
As aboveBuy120,977 19,542 19,542
14/01/2026
As aboveBuy112,131 18,113 18,113
14/01/2026
As aboveBuy90,489 21,859 21,859
14/01/2026
As aboveBuy55,375 8,945 8,945
14/01/2026
As aboveBuy24,335 3,931 3,931
14/01/2026
As aboveBuy41,180 6,652 6,652
14/01/2026
As aboveBuy27,356 4,419 4,419
16/01/2026
As aboveBuy592,021 93,897 93,897
16/01/2026
As aboveBuy519,582 82,408 82,408
16/01/2026
As aboveBuy1,014,708 160,937 160,937
16/01/2026
As aboveBuy670,606 106,361 106,361
16/01/2026
As aboveBuy719,558 114,125 114,125
16/01/2026
As aboveBuy110,293 17,493 17,493
16/01/2026
As aboveBuy1,098,735 174,264 174,264
16/01/2026
As aboveBuy517,187 82,028 82,028
16/01/2026
As aboveBuy479,344 76,026 76,026
16/01/2026
As aboveBuy387,564 91,752 91,752
16/01/2026
As aboveBuy236,740 37,548 37,548
16/01/2026
As aboveBuy104,045 16,502 16,502
16/01/2026
As aboveBuy176,048 27,922 27,922
16/01/2026
As aboveBuy31,588 5,010 5,010
16/01/2026
As aboveBuy10,233 1,623 1,623
16/01/2026
As aboveBuy116,958 18,550 18,550
16/01/2026
As aboveBuy56,594 8,976 8,976
16/01/2026
As aboveBuy224,748 35,646 35,646
22/01/2026
As aboveBuy162,685 27,365 27,365
22/01/2026
As aboveBuy960,688 161,596 161,596
22/01/2026
As aboveBuy219,180 36,868 36,868
22/01/2026
As aboveBuy99,484 16,734 16,734
22/01/2026
As aboveBuy50,104 8,428 8,428
22/01/2026
As aboveBuy206,428 34,723 34,723
22/01/2026
As aboveBuy7,455 1,254 1,254
22/01/2026
As aboveBuy4,013 675 675
22/01/2026
As aboveBuy19,137 3,219 3,219
22/01/2026
As aboveBuy6,343 1,067 1,067
22/01/2026
As aboveBuy109,780 18,466 18,466
22/01/2026
As aboveBuy36,068 6,067 6,067
22/01/2026
As aboveBuy29,921 5,033 5,033
22/01/2026
As aboveBuy33,441 5,625 5,625
22/01/2026
As aboveBuy7,390 1,243 1,243
22/01/2026
As aboveBuy71,031 11,948 11,948
22/01/2026
As aboveBuy47,078 7,919 7,919
22/01/2026
As aboveBuy57,304 14,122 14,122
22/01/2026
As aboveBuy54,004 9,084 9,084
22/01/2026
As aboveBuy4,381 737 737
22/01/2026
As aboveBuy76,435 12,857 12,857
22/01/2026
As aboveBuy98,330 16,540 16,540
22/01/2026
As aboveBuy65,318 10,987 10,987
22/01/2026
As aboveBuy41,657 7,007 7,007
22/01/2026
As aboveBuy245,980 41,376 41,376
22/01/2026
As aboveBuy56,121 9,440 9,440
22/01/2026
As aboveBuy25,474 4,285 4,285
22/01/2026
As aboveBuy12,829 2,158 2,158
22/01/2026
As aboveBuy52,857 8,891 8,891
22/01/2026
As aboveBuy29,113 4,897 4,897
22/01/2026
As aboveBuy15,683 2,638 2,638
22/01/2026
As aboveBuy74,729 12,570 12,570
22/01/2026
As aboveBuy24,785 4,169 4,169
22/01/2026
As aboveBuy428,753 72,120 72,120
22/01/2026
As aboveBuy140,879 23,697 23,697
Page 4 of 7

Date of ChangeHolder of relevant interestNature of Change Consideration
Number of
Securities
Person's Votes
Affected
22/01/2026As aboveBuy116,849 19,655 19,655
22/01/2026
As aboveBuy130,606 21,969 21,969
22/01/2026
As aboveBuy28,863 4,855 4,855
22/01/2026
As aboveBuy277,423 46,665 46,665
22/01/2026
As aboveBuy183,879 30,930 30,930
22/01/2026
As aboveBuy223,802 55,154 55,154
22/01/2026
As aboveBuy210,905 35,476 35,476
22/01/2026
As aboveBuy17,116 2,879 2,879
22/01/2026
As aboveBuy298,516 50,213 50,213
22/01/2026
As aboveBuy384,023 64,596 64,596
22/01/2026
As aboveBuy255,112 42,912 42,912
29/01/2026
As aboveSell96,624 16,717- 16,717
05/02/2026
As aboveBuy - Transfer618,249 116,431 116,431
11/02/2026
As aboveBuy160,325 28,732 28,732
18/02/2026
As aboveBuy453,256 82,177 82,177
19/02/2026
As aboveBuy402,307 69,487 69,487
19/02/2026
As aboveBuy96,424 16,640 16,640
19/02/2026
As aboveBuy614,712 106,082 106,082
19/02/2026
As aboveBuy243,794 42,072 42,072
24/02/2026
As aboveBuy89,831 15,691 15,691
24/02/2026
As aboveBuy130,988 22,880 22,880
24/02/2026
As aboveBuy26,570 4,641 4,641
24/02/2026
As aboveBuy1,392,246 243,187 243,187
24/02/2026
As aboveBuy361,648 63,170 63,170
24/02/2026
As aboveBuy122,412 21,382 21,382
24/02/2026
As aboveBuy738,645 129,021 129,021
24/02/2026
As aboveBuy5,685 993 993
24/02/2026
As aboveBuy68,574 11,978 11,978
24/02/2026
As aboveBuy23,060 4,028 4,028
24/02/2026
As aboveBuy156,081 27,263 27,263
24/02/2026
As aboveBuy17,118 2,990 2,990
24/02/2026
As aboveBuy31,035 5,421 5,421
24/02/2026
As aboveBuy123,620 21,593 21,593
24/02/2026
As aboveBuy351,572 61,410 61,410
24/02/2026
As aboveBuy9,171 1,602 1,602
24/02/2026
As aboveBuy2,376 415 415
24/02/2026
As aboveBuy14,255 2,490 2,490
24/02/2026
As aboveBuy7,677 1,341 1,341
24/02/2026
As aboveBuy13,940 2,435 2,435
24/02/2026
As aboveBuy2,364 413 413
24/02/2026
As aboveBuy3,446 602 602
24/02/2026
As aboveBuy698 122 122
24/02/2026
As aboveBuy36,634 6,399 6,399
24/02/2026
As aboveBuy9,521 1,663 1,663
24/02/2026
As aboveBuy3,223 563 563
24/02/2026
As aboveBuy19,442 3,396 3,396
24/02/2026
As aboveBuy14,032 2,451 2,451
24/02/2026
As aboveBuy12,240 2,138 2,138
24/02/2026
As aboveBuy30,697 5,362 5,362
24/02/2026
As aboveBuy18,246 3,187 3,187
24/02/2026
As aboveBuy27,617 4,824 4,824
24/02/2026
As aboveBuy20,445 5,058 5,058
24/02/2026
As aboveBuy2,433 425 425
24/02/2026
As aboveBuy2,050 358 358
24/02/2026
As aboveBuy149 26 26
24/02/2026
As aboveBuy1,803 315 315
24/02/2026
As aboveBuy607 106 106
24/02/2026
As aboveBuy4,111 718 718
24/02/2026
As aboveBuy452 79 79
24/02/2026
As aboveBuy819 143 143
24/02/2026
As aboveBuy3,252 568 568
24/02/2026
As aboveBuy9,252 1,616 1,616
24/02/2026
As aboveBuy348,527 60,878 60,878
24/02/2026
As aboveBuy90,197 15,755 15,755
24/02/2026
As aboveBuy541,539 94,592 94,592
24/02/2026
As aboveBuy291,786 50,967 50,967
24/02/2026
As aboveBuy529,666 92,518 92,518
24/02/2026
As aboveBuy533,192 93,134 93,134
24/02/2026
As aboveBuy465,173 81,253 81,253
24/02/2026
As aboveBuy1,166,280 203,717 203,717
24/02/2026
As aboveBuy693,252 121,092 121,092
24/02/2026
As aboveBuy1,049,433 183,307 183,307
24/02/2026
As aboveBuy776,749 192,163 192,163
24/02/2026
As aboveBuy92,356 16,132 16,132
24/02/2026
As aboveBuy77,774 13,585 13,585
24/02/2026
As aboveBuy5,691 994 994
24/02/2026
As aboveBuy68,574 11,978 11,978
24/02/2026
As aboveBuy23,066 4,029 4,029
24/02/2026
As aboveBuy156,081 27,263 27,263
Page 5 of 7

Date of ChangeHolder of relevant interestNature of Change Consideration
Number of
Securities
Person's Votes
Affected
24/02/2026As aboveBuy17,118 2,990 2,990
24/02/2026
As aboveBuy31,035 5,421 5,421
24/02/2026
As aboveBuy123,626 21,594 21,594
24/02/2026
As aboveBuy351,572 61,410 61,410
24/02/2026
As aboveBuy348,521 60,877 60,877
24/02/2026
As aboveBuy90,197 15,755 15,755
24/02/2026
As aboveBuy541,539 94,592 94,592
24/02/2026
As aboveBuy291,786 50,967 50,967
24/02/2026
As aboveBuy529,666 92,518 92,518
24/02/2026
As aboveBuy89,831 15,691 15,691
24/02/2026
As aboveBuy130,988 22,880 22,880
24/02/2026
As aboveBuy26,564 4,640 4,640
24/02/2026
As aboveBuy1,392,297 243,196 243,196
24/02/2026
As aboveBuy361,648 63,170 63,170
24/02/2026
As aboveBuy122,412 21,382 21,382
24/02/2026
As aboveBuy738,640 129,020 129,020
24/02/2026
As aboveBuy533,186 93,133 93,133
24/02/2026
As aboveBuy465,173 81,253 81,253
24/02/2026
As aboveBuy1,166,274 203,716 203,716
24/02/2026
As aboveBuy693,252 121,092 121,092
24/02/2026
As aboveBuy1,049,433 183,307 183,307
24/02/2026
As aboveBuy776,749 192,163 192,163
24/02/2026
As aboveBuy92,350 16,131 16,131
24/02/2026
As aboveBuy77,774 13,585 13,585
27/02/2026
As aboveSell100,136 17,088- 17,088
06/03/2026
As aboveSell134,050 23,642- 23,642
11/03/2026
As aboveBuy1,081,413 195,228 195,228
13/03/2026
As aboveBuy304,095 79,586 79,586
13/03/2026
As aboveBuy164,830 30,212 30,212
17/03/2026
As aboveBuy425,123 77,719 77,719
19/03/2026
As aboveBuy190,840 33,569 33,569
19/03/2026
As aboveBuy476,414 83,802 83,802
19/03/2026
As aboveBuy57,578 10,128 10,128
19/03/2026
As aboveBuy13,087 2,302 2,302
19/03/2026
As aboveBuy13,894 2,444 2,444
19/03/2026
As aboveBuy108,635 19,109 19,109
19/03/2026
As aboveBuy77,253 13,589 13,589
19/03/2026
As aboveBuy18,311 3,221 3,221
19/03/2026
As aboveBuy785 139 139
19/03/2026
As aboveBuy15,368 2,723 2,723
19/03/2026
As aboveBuy7,749 1,373 1,373
19/03/2026
As aboveBuy13,743 2,435 2,435
19/03/2026
As aboveBuy2,004 355 355
19/03/2026
As aboveBuy8,392 1,487 1,487
19/03/2026
As aboveBuy38,785 6,872 6,872
19/03/2026
As aboveBuy8,850 1,568 1,568
19/03/2026
As aboveBuy13,308 2,358 2,358
19/03/2026
As aboveBuy773 137 137
19/03/2026
As aboveBuy2,438 432 432
19/03/2026
As aboveBuy3,629 643 643
19/03/2026
As aboveBuy34,140 6,049 6,049
19/03/2026
As aboveBuy56,625 10,033 10,033
19/03/2026
As aboveBuy48,272 8,553 8,553
19/03/2026
As aboveBuy31,911 5,654 5,654
19/03/2026
As aboveBuy24,376 4,319 4,319
19/03/2026
As aboveBuy5,610 994 994
19/03/2026
As aboveBuy21,249 3,765 3,765
19/03/2026
As aboveBuy32,371 8,105 8,105
19/03/2026
As aboveBuy4,069 721 721
19/03/2026
As aboveBuy13,969 2,475 2,475
19/03/2026
As aboveBuy34,879 6,180 6,180
19/03/2026
As aboveBuy4,216 747 747
19/03/2026
As aboveBuy959 170 170
19/03/2026
As aboveBuy1,016 180 180
19/03/2026
As aboveBuy7,952 1,409 1,409
19/03/2026
As aboveBuy5,655 1,002 1,002
19/03/2026
As aboveBuy1,343 238 238
19/03/2026
As aboveBuy10,733 1,888 1,888
19/03/2026
As aboveBuy209,947 36,930 36,930
19/03/2026
As aboveBuy105,821 18,614 18,614
19/03/2026
As aboveBuy187,724 33,021 33,021
19/03/2026
As aboveBuy27,345 4,810 4,810
19/03/2026
As aboveBuy114,604 20,159 20,159
19/03/2026
As aboveBuy529,814 93,195 93,195
19/03/2026
As aboveBuy120,914 21,269 21,269
19/03/2026
As aboveBuy181,755 31,971 31,971
19/03/2026
As aboveBuy10,585 1,862 1,862
19/03/2026
As aboveBuy33,308 5,859 5,859
19/03/2026
As aboveBuy49,545 8,715 8,715
Page 6 of 7

Date of ChangeHolder of relevant interestNature of Change Consideration
Number of
Securities
Person's Votes
Affected
19/03/2026As aboveBuy466,363 82,034 82,034
19/03/2026
As aboveBuy773,490 136,058 136,058
19/03/2026
As aboveBuy659,358 115,982 115,982
19/03/2026
As aboveBuy435,903 76,676 76,676
19/03/2026
As aboveBuy332,982 58,572 58,572
19/03/2026
As aboveBuy76,605 13,475 13,475
19/03/2026
As aboveBuy290,282 51,061 51,061
19/03/2026
As aboveBuy442,163 109,909 109,909
19/03/2026
As aboveBuy55,577 9,776 9,776
Page 7 of 7

Annexure 2
This is page 1 of 2 of Annexure 2 referred to in ASIC Form 603 - becoming a substantial holder
23/03/2026
Company Name
ACN /
Company Number
Country of
Incorporation
Challenger Limited
106842371
Australia
255 Finance Group Pty Ltd628853056Australia
255 Finance Investments Pty Ltd164516401Australia
255 Finance Pty Ltd168112507Australia
255 Finance Services Pty Ltd168107355Australia
Alphinity Investment Management Pty Ltd140833709Australia
Ardea Investment Management Pty Ltd132902722Australia
Ardea Investment Management (UK) Limited 13043903United Kingdom
Artega Investment Administration Pty Limited661042093Australia
Bentham Asset Management Pty Ltd140833674Australia
Calix Re Holdings Limited202504686Bermuda
Calix Re Holdings US Limited10548639United States
Calix Re Limited202504726Bermuda
Calix Re MidCo Limited202504725Bermuda
Calix Re MidCo US Limited10548643United States
Calix Re Services Limited 202505098Bermuda
Carolina HoldCo Pty Ltd695152900Australia
Carolina Pty Ltd695153023Australia
CDPG Australia Pty Limited124498095Australia
Challenger Financial Services Pty Limited087464131Australia
Challenger Funds Management Holdings Pty Limited107728030Australia
Challenger Group Holdings Limited002993302Australia
Challenger Group Pty Limited003374196Australia
Challenger Group Services Pty. Ltd.085657307Australia
Challenger Holdco2 Holdings Pty Ltd646761275Australia
Challenger Holdco3 Holdings Pty Ltd657425744Australia
Challenger Home Loan Corporation Pty Ltd058891302Australia
Challenger IM Capital FinCo Pty Ltd695836527Australia
Challenger IM Capital Limited687738263Australia
Challenger Investment Partners Limited092382842Australia
Challenger Investment Solutions Management Pty Ltd130035353Australia
Challenger Japan Holdings Kabushiki Kaisha0100-01-182399Japan
Challenger Japan Holdings Pty Limited617208205Australia
Challenger Kabushiki Kaisha0100-01-182872Unknown
Challenger Life CDI Nominees Pty Ltd055293644Australia
Challenger Life Company Holdings Pty Ltd006381193Australia
Challenger Life Company Limited072486938Australia
Challenger Life Debt Investments (Europe) Limited7626067United Kingdom
Challenger Life Fund Property Investments Pty Ltd161212693Australia
Challenger Life Nominees No.2 Pty Ltd
078627013Australia
Challenger Life Nominees No.3 Pty Limited151482147Australia
Challenger Life Nominees Pty Ltd091336793Australia
Challenger Life Subsidiary Holdings Pty Limited099742122Australia
Challenger Management Services (UK) Limited6393787United Kingdom
Challenger Mortgage Management Pty Ltd087271109Australia
Challenger NZ Holdco1 Limited 9279773New Zealand
Challenger Non-conforming Finance Pty Ltd107725486Australia
Challenger Retirement and Investment Services Limited115534453Australia
Challenger Securitisation Management Pty Ltd100346898Australia
Challenger Special Servicing Pty Ltd107707415Australia
Challenger Treasury Limited093307996Australia
Challenger Wholesale Finance Holdings Pty Limited087284240Australia
Challenger Wind Holdings Pty Limited151496061Australia
CLS US Holdings, LLC5302598United States
CPHIC Investments Pty Ltd093340526Australia
Eiger Capital Pty Limited631838607Australia
Fidante Partners AAM Holdings Pty Limited636490189Australia
Linda Matthews - Company Secretary of Challenger Limited

Annexure 2
This is page 2 of 2 of Annexure 2 referred to in ASIC Form 603 - becoming a substantial holder
23/03/2026
Company Name
ACN /
Company Number
Country of
Incorporation
Linda Matthews - Company Secretary of Challenger Limited
Fidante Partners AB559327-5497Sweden
Fidante Partners Alphinity Holdings Pty Ltd140716016Australia
Fidante Partners Ardea Holdings Pty Ltd133865853Australia
Fidante Partners Bentham Holdings Pty Ltd140715573Australia
Fidante Partners Cultiv8 Holdings Pty Ltd659373109Australia
Fidante Partners Eiger Holdings Pty Limited631837360Australia
Fidante Partners Europe Limited4040660United Kingdom
Fidante Partners FME Holdings Limited11410594United Kingdom
Fidante Partners Holdco1 Pty Limited666942196Australia
Fidante Partners Holdings (Guernsey) Limited43315Guernsey
Fidante Partners Holdings Europe Limited6172534United Kingdom
Fidante Partners Holdings Pty Limited123318650Australia
Fidante Partners Lennox Holdings Pty Limited616975565Australia
Fidante Partners Limited002835592Australia
Fidante Partners Liquid Strategies ICAV C139635 Ireland
Fidante Partners Merlon Holdings Pty Ltd140715662Australia
Fidante Partners Novaport Holdings Pty Ltd140715797Australia
Fidante Partners Ox Holdings Pty Ltd649174087Australia
Fidante Partners Services Limited119605373Australia
Fidante Partners System Holdings Pty Ltd678592928Australia
Fidante Partners Wavestone Holdings Pty Limited133626276Australia
Fidante Partners Whitehelm Holdings Pty Ltd169043903Australia
FME Asset Management Limited11064883United Kingdom
Fulcrum Asset Management LLPOC306401United Kingdom
Fulcrum Asset Management Holdings Limited16777662United Kingdom
FAM Services Limited05000601United Kingdom
Greencape Capital Pty Ltd120328529Australia
Kabushiki Kaisha C & K0104-01-067168 Japan
Kudu Investment Partners I, Lp47-2497501Unknown
Lease Collateral No.2 Pty Ltd168112481Australia
Lease Collateral Pty Ltd168112472Australia
Lease Funding Management Pty Ltd168112490Australia
Lending JV Holdco Pty Ltd661671683Australia
Lennox Capital Partners Pty Limited617001966Australia
Novaport Capital Pty Ltd140833656Australia
Oaklands Hill Pty Ltd149814559Australia
Oaklands Hill Wind Farm Pty Ltd126595935Australia
Offshore Reinsurer (Bermuda) Company Limited51746Bermuda
Ox Capital Management Pty Ltd648887914Australia
Ox Capital Management HK Pty. Limited
76656681Hong Kong
Resonance Asset Management Limited9028327United Kingdom
System Capital Pty Ltd657739323Australia
System Holdings Pty Ltd657737276Australia
US LLC Holdings Pty Ltd130888292Australia
US LLC Investments LLC36-4811214United States
Water Ventures Limited9592184United Kingdom
Wavestone Capital Pty Limited120179419Australia