Afterpay : Change in substantial holding from MUFG

Form 604

only

To: Company Name/Scheme:

ACN/ARSN

1. Details of substantial holder

Name

There was a change in the interests of the substantial holder on

The previous notice was given to the company on

The previous notice was dated

The holder became aware on

2. Previous and present voting power

Form 604

Corporations Act 2001

Section 671B

Notice of change of interests of substantial holder

Afterpay Limited

618 280 649

Mitsubishi UFJ Financial Group, Inc.

19 January 2022

18 January 2022

18 January 2022

21 January 2022

use

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 had a relevant interest in when last required, and when now required, to give a substantial holding notice to the company or scheme are as follows:

Class of securities	Previous notice		Present notice
	Person's votes	Voting power (5)	Person's votes		Voting power (5)
Fully Paid Ordinary Shares		15,198,857	5.11%	20,909,218	6.96%
American Depositary Receipts		1,184,634	0.40%	935,351	0.31%
Options		77,700	0.03%	57,700	0.02%

3. Changes in relevant interest

personal

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date of	Person whose		Consideration given in
relevant interest	Nature of change
change	relation to change
changed
See annexure A to this notice

4.Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Class and number	Person's votes
of securities
affected
affected

For

Holder of	Registered holder	Person entitled to be	Nature of relevant	Class and number
relevant	Person's votes
of securities	registered as holder	interest	of securities
interest
			Relevant interest in securities that
			Mitsubishi UFJ Trust and Banking
			Corporation has a relevant interest in
Mitsubishi UFJ Financial Group,	Mitsubishi UFJ Trust and	Not applicable	under section 608(3) of the Corporations	101,093	Fully paid	101,093
Inc.	Banking Corporation.	Act as Mitsubishi UFJ Financial Group,	ordinary shares
			Inc. has voting power of 100% in
			Mitsubishi UFJ Trust and Banking
			Corporation.
			Relevant interest in securities that
			Mitsubishi UFJ Kokusai Asset
			Management Co., Ltd. has a relevant
Mitsubishi UFJ Financial Group,	Mitsubishi UFJ Kokusai Asset	Not applicable	interest in under section 608(3) of the	53,034	Fully paid	53,034
Inc.	Management Co., Ltd.	Corporations Act as Mitsubishi UFJ	ordinary shares
			Financial Group, Inc. has voting power of
			100% in Mitsubishi UFJ Kokusai Asset
			Management Co., Ltd.
			Relevant interest in securities that First
			Sentier Investors Holdings Pty Limited
Mitsubishi UFJ Financial Group,			has a relevant interest in under section		Fully paid
Citibank N A Hong Kong	Not applicable	608(3) of the Corporations Act as	1,193	1,193
Inc.			Mitsubishi UFJ Financial Group, Inc. has		ordinary shares
			voting power of 100% in First Sentier
			Investors Holdings Pty Limited.
			Relevant interest in securities that First
			Sentier Investors Holdings Pty Limited
Mitsubishi UFJ Financial Group,	Citicorp Nominees Pty Limited		has a relevant interest in under section		Fully paid
Not applicable	608(3) of the Corporations Act as	681,636	681,636
Inc.	(Australia)		Mitsubishi UFJ Financial Group, Inc. has		ordinary shares

voting power of 100% in First Sentier

Investors Holdings Pty Limited.

Page 1

For personal use only

Mitsubishi UFJ Financial Group,

Inc.

Mitsubishi UFJ Financial Group,

Inc.

Mitsubishi UFJ Financial Group,

Inc.

Mitsubishi UFJ Financial Group,

Inc.

Mitsubishi UFJ Financial Group,

Inc.

Mitsubishi UFJ Financial Group,

Inc.

Mitsubishi UFJ Financial Group,

Inc.

Mitsubishi UFJ Financial Group,

Inc.

Mitsubishi UFJ Financial Group,

Inc.

Mitsubishi UFJ Financial Group,

Inc.

Mitsubishi UFJ Financial Group,

Inc.

Mitsubishi UFJ Financial Group,

Inc.

Mitsubishi UFJ Financial Group,

Inc.

Northern Trust Company

State Street Global Services

Citibank N A Hong Kong

Citicorp Nominees Pty Limited

(Australia)

JP Morgan Chase Bank NA

JPMorgan (UK)

National Custodian Services

Northern Trust Company

State Street Global Advisors

(Australia) Limited

State Street Global Services

Northern Trust Company

DTC Through E*TRADE

Not applicable

Not applicable

Not applicable

Not applicable

Not applicable

Not applicable

Not applicable

Not applicable

Not applicable

Not applicable

Not applicable

Not applicable

Not applicable

Form 604

Relevant interest in securities that First Sentier Investors Holdings Pty Limited has a relevant interest in under section 608(3) of the Corporations Act as Mitsubishi UFJ Financial Group, Inc. has voting power of 100% in First Sentier Investors Holdings Pty Limited.

Relevant interest in securities that First Sentier Investors Holdings Pty Limited has a relevant interest in under section 608(3) of the Corporations Act as Mitsubishi UFJ Financial Group, Inc. has voting power of 100% in First Sentier Investors Holdings Pty Limited.

Relevant interest in securities that First Sentier Investors Holdings Pty Limited has a relevant interest in under section 608(3) of the Corporations Act as Mitsubishi UFJ Financial Group, Inc. has voting power of 100% in First Sentier Investors Holdings Pty Limited.

Relevant interest in securities that First Sentier Investors Holdings Pty Limited has a relevant interest in under section 608(3) of the Corporations Act as Mitsubishi UFJ Financial Group, Inc. has voting power of 100% in First Sentier Investors Holdings Pty Limited.

Relevant interest in securities that First Sentier Investors Holdings Pty Limited has a relevant interest in under section 608(3) of the Corporations Act as Mitsubishi UFJ Financial Group, Inc. has voting power of 100% in First Sentier Investors Holdings Pty Limited.

Relevant interest in securities that First Sentier Investors Holdings Pty Limited has a relevant interest in under section 608(3) of the Corporations Act as Mitsubishi UFJ Financial Group, Inc. has voting power of 100% in First Sentier Investors Holdings Pty Limited.

Relevant interest in securities that First Sentier Investors Holdings Pty Limited has a relevant interest in under section 608(3) of the Corporations Act as Mitsubishi UFJ Financial Group, Inc. has voting power of 100% in First Sentier Investors Holdings Pty Limited.

Relevant interest in securities that First Sentier Investors Holdings Pty Limited has a relevant interest in under section 608(3) of the Corporations Act as Mitsubishi UFJ Financial Group, Inc. has voting power of 100% in First Sentier Investors Holdings Pty Limited.

Relevant interest in securities that First Sentier Investors Holdings Pty Limited has a relevant interest in under section 608(3) of the Corporations Act as Mitsubishi UFJ Financial Group, Inc. has voting power of 100% in First Sentier Investors Holdings Pty Limited.

Relevant interest in securities that First Sentier Investors Holdings Pty Limited has a relevant interest in under section 608(3) of the Corporations Act as Mitsubishi UFJ Financial Group, Inc. has voting power of 100% in First Sentier Investors Holdings Pty Limited.

Relevant interest in securities that First Sentier Investors Holdings Pty Limited has a relevant interest in under section 608(3) of the Corporations Act as Mitsubishi UFJ Financial Group, Inc. has voting power of 100% in First Sentier Investors Holdings Pty Limited.

Relevant interest in securities that First Sentier Investors Holdings Pty Limited has a relevant interest in under section 608(3) of the Corporations Act as Mitsubishi UFJ Financial Group, Inc. has voting power of 100% in First Sentier Investors Holdings Pty Limited.

Relevant interest in securities that Morgan Stanley has a relevant interest in under section 608(3) of the Corporations Act as Mitsubishi UFJ Financial Group, Inc. has voting power of over 20% in Morgan Stanley.

Fully paid

1,417 ordinary shares

Fully paid

46,871 ordinary shares

Fully paid

3,117,227 ordinary shares

Fully paid

1,689,861 ordinary shares

Fully paid

303,561 ordinary shares

Fully paid

41,789 ordinary shares

Fully paid

32,391 ordinary shares

Fully paid

59 ordinary shares

Fully paid

1,335 ordinary shares

Fully paid

799,061 ordinary shares

Fully paid

10,212 ordinary shares

Fully paid

82 ordinary shares

American

500 Depository Receipts

1,417

46,871

3,117,227

1,689,861

303,561

41,789

32,391

59

1,335

799,061

10,212

23

500

Page 2

Mitsubishi UFJ Financial Group,	Unknown
Inc.

Not applicable

Form 604

Relevant interest in securities that Morgan Stanley has a relevant interest in under section 608(3) of the Corporations Act as Mitsubishi UFJ Financial Group, Inc. has voting power of over 20% in Morgan Stanley.

American

• Depository Receipts

8

For personal use only

Mitsubishi UFJ Financial Group,

Inc.

Mitsubishi UFJ Financial Group,

Inc.

Mitsubishi UFJ Financial Group,

Inc.

Mitsubishi UFJ Financial Group,

Inc.

Mitsubishi UFJ Financial Group,

Inc.

Mitsubishi UFJ Financial Group,

Inc.

Mitsubishi UFJ Financial Group,

Inc.

Mitsubishi UFJ Financial Group,

Inc.

Mitsubishi UFJ Financial Group,

Inc.

Mitsubishi UFJ Financial Group,

Inc.

Mitsubishi UFJ Financial Group,

Inc.

Mitsubishi UFJ Financial Group,

Inc.

DTC Through Morgan Stanley

DTC Through Morgan Stanley

Unknown

HSBC Custody Nominees

(Australia) Limited

HSBC Custody Nominees

(Australia) Limited

HSBC Custody Nominees

(Australia) Limited

Morgan Stanley Australia

Securities (Nominee) Pty

Limited

DTC Through Morgan Stanley

HSBC Custody Nominees

(Australia) Limited

JPMorgan Chase Bank, N.A.,

Sydney Branch

DTC through Morgan Stanley

HSBC Custody Nominees

(Australia) Limited

Not applicable

Not applicable

Not applicable

Not applicable

Not applicable

Not applicable

Not applicable

Not applicable

Not applicable

Not applicable

Not applicable

Not applicable

Relevant interest in securities that Morgan Stanley has a relevant interest in under section 608(3) of the Corporations Act as Mitsubishi UFJ Financial Group, Inc. has voting power of over 20% in Morgan Stanley.

Relevant interest in securities that Morgan Stanley has a relevant interest in under section 608(3) of the Corporations Act as Mitsubishi UFJ Financial Group, Inc. has voting power of over 20% in Morgan Stanley.

Relevant interest in securities that Morgan Stanley has a relevant interest in under section 608(3) of the Corporations Act as Mitsubishi UFJ Financial Group, Inc. has voting power of over 20% in Morgan Stanley.

Relevant interest in securities that Morgan Stanley has a relevant interest in under section 608(3) of the Corporations Act as Mitsubishi UFJ Financial Group, Inc. has voting power of over 20% in Morgan Stanley.

Relevant interest in securities that Morgan Stanley has a relevant interest in under section 608(3) of the Corporations Act as Mitsubishi UFJ Financial Group, Inc. has voting power of over 20% in Morgan Stanley.

Relevant interest in securities that Morgan Stanley has a relevant interest in under section 608(3) of the Corporations Act as Mitsubishi UFJ Financial Group, Inc. has voting power of over 20% in Morgan Stanley.

Relevant interest in securities that Morgan Stanley has a relevant interest in under section 608(3) of the Corporations Act as Mitsubishi UFJ Financial Group, Inc. has voting power of over 20% in Morgan Stanley.

Relevant interest in securities that Morgan Stanley has a relevant interest in under section 608(3) of the Corporations Act as Mitsubishi UFJ Financial Group, Inc. has voting power of over 20% in Morgan Stanley.

Relevant interest in securities that Morgan Stanley has a relevant interest in under section 608(3) of the Corporations Act as Mitsubishi UFJ Financial Group, Inc. has voting power of over 20% in Morgan Stanley.

Relevant interest in securities that Morgan Stanley has a relevant interest in under section 608(3) of the Corporations Act as Mitsubishi UFJ Financial Group, Inc. has voting power of over 20% in Morgan Stanley.

Relevant interest in securities that Morgan Stanley has a relevant interest in under section 608(3) of the Corporations Act as Mitsubishi UFJ Financial Group, Inc. has voting power of over 20% in Morgan Stanley.

Relevant interest in securities that Morgan Stanley has a relevant interest in under section 608(3) of the Corporations Act as Mitsubishi UFJ Financial Group, Inc. has voting power of over 20% in Morgan Stanley.

American

166,600 Depository

Receipts

American

565,242 Depository

Receipts

577 Options

Fully paid

958,681 ordinary shares

Fully paid

367,350 ordinary shares

Fully paid

29 ordinary shares

Fully paid

11,955,513 ordinary shares

American

41,250 Depository

Receipts

Fully paid

16,703 ordinary shares

Fully paid

1,221 ordinary shares

American

1,579 Depository

Receipts

Fully paid

254 ordinary shares

166,600

565,242

57,700

958,681

367,350

29

11,955,513

41,250

16,703

1,221

1,579

254

Page 3

only

Mitsubishi UFJ Financial Group,

Inc.

Mitsubishi UFJ Financial Group,

Inc.

Mitsubishi UFJ Financial Group,

Inc.

5. Changes in association

Morgan Stanley Wealth Management Australia Pty discretionary client account

Unknown

Unknown

Form 604

Relevant interest in securities that Morgan Stanley has a relevant interest in under section 608(3) of the Corporations Act as

Not applicable Mitsubishi UFJ Financial Group, Inc. has voting power of over 20% in Morgan

Stanley.

Relevant interest in securities that Morgan Stanley has a relevant interest in under section 608(3) of the Corporations Act as

Not applicable Mitsubishi UFJ Financial Group, Inc. has voting power of over 20% in Morgan

Stanley.

Relevant interest in securities that Morgan Stanley has a relevant interest in under section 608(3) of the Corporations Act as

Not applicable Mitsubishi UFJ Financial Group, Inc. has voting power of over 20% in Morgan

Stanley.

Fully paid

95,255 ordinary shares

American

160,172 Depository

Receipts

Fully paid

633,449 ordinary shares

95,255

160,172

633,449

For personal use

The persons who have become associates of, ceased to be associates of, or have changed the nature of their association with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name and ACN/ARSN (if applicable)	Nature of association
Not Applicable	Not Applicable
6. Addresses
The addresses of persons named in this form are as follows:
Name	Address
Mitsubishi UFJ Financial Group, Inc.	2-7-1, Marunouchi, Chiyoda-ku, Tokyo 100-8330, Japan
Signature

Dated 24 January 2022

Authorised signatory

Page 4

only

Annexure A

Annexure A

This is annexure A of 166 pages referred to in Form 604, Notice of change of interest of substantial holder dated 24 January 2022

Authorised signatory

Dated 24 January 2022

personal use

	Person whose relevant interest
Date of change	changed	Nature of change
		Purchase of securities by an entity
14/01/2022	Mitsubishi UFJ Financial Group, Inc.	controlled by First Sentier Investors
		Holdings Pty Ltd
		Purchase of securities by an entity
14/01/2022	Mitsubishi UFJ Financial Group, Inc.	controlled by First Sentier Investors
		Holdings Pty Ltd
		Purchase of securities by an entity
14/01/2022	Mitsubishi UFJ Financial Group, Inc.	controlled by First Sentier Investors
		Holdings Pty Ltd
		Purchase of securities by an entity
14/01/2022	Mitsubishi UFJ Financial Group, Inc.	controlled by First Sentier Investors
		Holdings Pty Ltd
		Purchase of securities by an entity
14/01/2022	Mitsubishi UFJ Financial Group, Inc.	controlled by First Sentier Investors
		Holdings Pty Ltd
		Purchase of securities by an entity
14/01/2022	Mitsubishi UFJ Financial Group, Inc.	controlled by First Sentier Investors
		Holdings Pty Ltd
		Purchase of securities by an entity
14/01/2022	Mitsubishi UFJ Financial Group, Inc.	controlled by First Sentier Investors
		Holdings Pty Ltd
		Purchase of securities by an entity
14/01/2022	Mitsubishi UFJ Financial Group, Inc.	controlled by First Sentier Investors
		Holdings Pty Ltd
		Purchase of securities by an entity
14/01/2022	Mitsubishi UFJ Financial Group, Inc.	controlled by First Sentier Investors
		Holdings Pty Ltd
		Purchase of securities by an entity
14/01/2022	Mitsubishi UFJ Financial Group, Inc.	controlled by First Sentier Investors
		Holdings Pty Ltd
		Purchase of securities by an entity
14/01/2022	Mitsubishi UFJ Financial Group, Inc.	controlled by First Sentier Investors
		Holdings Pty Ltd
		Purchase of securities by an entity
14/01/2022	Mitsubishi UFJ Financial Group, Inc.	controlled by First Sentier Investors
		Holdings Pty Ltd
		Purchase of securities by an entity
14/01/2022	Mitsubishi UFJ Financial Group, Inc.	controlled by First Sentier Investors
		Holdings Pty Ltd
		Purchase of securities by an entity
14/01/2022	Mitsubishi UFJ Financial Group, Inc.	controlled by First Sentier Investors
		Holdings Pty Ltd
		Purchase of securities by an entity
14/01/2022	Mitsubishi UFJ Financial Group, Inc.	controlled by First Sentier Investors
		Holdings Pty Ltd
		Purchase of securities by an entity
14/01/2022	Mitsubishi UFJ Financial Group, Inc.	controlled by First Sentier Investors
		Holdings Pty Ltd
		Sale of securities by an entity controlled
14/01/2022	Mitsubishi UFJ Financial Group, Inc.	by Mitsubishi UFJ Trust and Banking
		Corporaton

Consideration given in
relation to change	Class and number of securities affected
480,576.67	6,895 Fully Paid ordinary shares

207.683 Fully Paid ordinary shares

15,368.53	222	Fully Paid ordinary shares
158,877.34	2,295	Fully Paid ordinary shares
47,074.77	680	Fully Paid ordinary shares
103,573.16	1,486	Fully Paid ordinary shares
104,061.05	1,493	Fully Paid ordinary shares
312,671.06	4,486	Fully Paid ordinary shares
306,747.50	4,431	Fully Paid ordinary share

70.241 Fully Paid ordinary share

44,607.55	640	Fully Paid ordinary shares
44,997.94	650	Fully Paid ordinary shares
16,960.76	245	Fully Paid ordinary shares
403,320.00	5,826	Fully Paid ordinary share
43,474.93	628	Fully Paid ordinary shares
1,384.55	20	Fully Paid ordinary shares
90,479.44	1,176	Fully Paid ordinary shares

Person's votes

affected

6,895

3

222

2,295

680

1,486

1,493

4,486

4,431

1

640

650

245

5,826

628

20

1,176

For

14/01/2022 Mitsubishi UFJ Financial Group, Inc.

14/01/2022 Mitsubishi UFJ Financial Group, Inc.

14/01/2022 Mitsubishi UFJ Financial Group, Inc.

14/01/2022 Mitsubishi UFJ Financial Group, Inc.

14/01/2022 Mitsubishi UFJ Financial Group, Inc.

14/01/2022 Mitsubishi UFJ Financial Group, Inc.

Purchase of securities by an entity

controlled by Morgan Stanley

Purchase of securities by an entity

controlled by Morgan Stanley

Purchase of securities by an entity

controlled by Morgan Stanley

Sale of securities by an entity controlled

by Morgan Stanley

Borrow Returned by an entity controlled by Morgan Stanley - see Annexure B

Collateral Received by an entity controlled by Morgan Stanley - see Annexure B

290,507.76	4,204	Fully Paid ordinary shares
2,072,812.69	30,000	Fully Paid ordinary shares
3,313.44	48	Fully Paid ordinary shares
150,689.82	1,957	Fully Paid ordinary shares
N/A	14,380	Fully Paid ordinary shares
N/A	1,957	Fully Paid ordinary shares

4,204

30,000

48

1,957

14,380

1,957

14/01/2022	Mitsubishi UFJ Financial Group, Inc.	Purchase of securities by an entity
controlled by Morgan Stanley
14/01/2022	Mitsubishi UFJ Financial Group, Inc.	Purchase of securities by an entity
controlled by Morgan Stanley
14/01/2022	Mitsubishi UFJ Financial Group, Inc.	Purchase of securities by an entity
controlled by Morgan Stanley

223.0040 Put Options

2,820.40	40	Fully Paid ordinary shares
47,802.82	689	Fully Paid ordinary shares

4,000

40

689

Page 5