Z Energy : Disclosure of beginning to have substantial holding

For personal use only

Disclosure of beginning to have substantial holding

Section 276, Financial Markets Conduct Act 2013

To NZX Limited and

To Z Energy Ltd

Date this disclosure made: 17 November, 2021

Date on which substantial holding began: 12 November, 2021

Substantial product holder(s) giving disclosure

Full name(s): Mitsubishi UFJ Financial Group, Inc., First Sentier Investors Realindex Pty Ltd, First Sentier Investors (Australia) IM Ltd.

Summary of substantial holding

Class of quoted voting products: Ordinary Shares (security code: NZZELE0001S1)

Summary for Mitsubishi UFJ Financial Group, Inc., First Sentier Investors Realindex Pty Ltd, First Sentier Investors (Australia) IM Ltd.

For this disclosure,-

1. 1. total number held in class: 26,395,873
2. total in class: 520,136,969
3. total percentage held in class: 5.075%

Details of relevant interests

Details for Mitsubishi UFJ Financial Group, Inc.

Nature of relevant interest(s): Deemed relevant interest by reason of being a holding company and a related company of First Sentier Investors Realindex Pty Ltd and First Sentier Investors (Australia) IM Ltd. and being deemed to have the same relevant interests as are disclosed by First Sentier Investors Realindex Pty Ltd and First Sentier Investors (Australia) IM Ltd. in this notice.

For that relevant interest,-

1. number held in class: 3,104,778
2. percentage held in class: 0.597%
3. current registered holder(s): unknown
4. registered holder(s) once transfers are registered: N/A

Nature of relevant interest(s): Deemed relevant interest arising from being a greater than 20% shareholder in Morgan Stanley and being deemed to have the same relevant interests as are held in the Morgan Stanley group. The relevant interests held in the

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For personal use only

Morgan Stanley group which are included in this disclosure are set out in Annexure B to this notice.

For that relevant interest,-

1. number held in class: 23,291,095
2. percentage held in class: 4.478%
3. current registered holder(s): As listed in Annexure B
4. registered holder(s) once transfers are registered: N/A

Details for First Sentier Investors Realindex Pty Ltd

Nature of relevant interest(s): Relevant interest arising from having the power to control the exercise of the right to vote attached to securities and/or to control the exercise of the power to dispose of securities in its capacity as a responsible entity of a managed investment scheme. The relevant agreement need not be attached under regulation 139.

1. number held in class: 885,807
2. percentage held in class : 0.170%
3. current registered holder(s) : Unknown
4. registered holder(s) once transfers are registered : N/A

Nature of relevant interest(s): Deemed relevant interest by reason of being a related company of other Mitsubishi UFJ Financial Group, Inc., subsidiaries disclosing in this notice.

For that relevant interest,-

1. number held in class: 2,218,971
2. percentage held in class: 0.427%
3. current registered holder(s): Unknown
4. registered holder(s) once transfers are registered: N/A

Nature of relevant interest(s): Deemed relevant interest arising from being a wholly- owned subsidiary and a related company of Mitsubishi UFJ Financial Group, Inc., which is deemed to have the same relevant interests as are held in the Morgan Stanley group by reason of being a greater than 20% shareholder in the Morgan Stanley group. The

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For personal use only

relevant interests held in the Morgan Stanley group which are included in this disclosure are set out in Annexure B to this notice.

For that relevant interest,-

1. number held in class: 23,291,095
2. percentage held in class: 4.478%
3. current registered holder(s): As listed in Annexure B
4. registered holder(s) once transfers are registered: N/A

Details for First Sentier Investors (Australia) IM Ltd

Nature of relevant interest(s): Relevant interest arising from having the power to control the exercise of the right to vote attached to securities and/or to control the exercise of the power to dispose of securities in its capacity as a responsible entity of a managed investment scheme. The relevant agreement need not be attached under regulation 139.

1. number held in class: 2,218,971
2. percentage held in class : 0.427%
3. current registered holder(s) : Unknown
4. registered holder(s) once transfers are registered : N/A

Nature of relevant interest(s): Deemed relevant interest by reason of being a related company of other Mitsubishi UFJ Financial Group, Inc., subsidiaries disclosing in this notice.

For that relevant interest,-

1. number held in class: 885,807
2. percentage held in class : 0.170%
3. current registered holder(s) : Unknown
4. registered holder(s) once transfers are registered : N/A

Nature of relevant interest(s): Deemed relevant interest arising from being a wholly- owned subsidiary and a related company of Mitsubishi UFJ Financial Group, Inc., which is deemed to have the same relevant interests as are held in the Morgan Stanley group by reason of being a greater than 20% shareholder in the Morgan Stanley group. The relevant interests held in the Morgan Stanley group which are included in this disclosure are set out in Annexure B to this notice.

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For personal use only

For that relevant interest,-

1. number held in class: 23,291,095
2. percentage held in class: 4.478%
3. current registered holder(s): As listed in Annexure B
4. registered holder(s) once transfers are registered: N/A

Details of transactions and events giving rise to substantial holding Details of the transactions or other events requiring disclosure:

For transaction details relating to subsidiaries of Mitsubishi UFJ Financial Group, Inc. see Annexure A.

For transaction details relating to the Morgan Stanley group see Annexure C.

Additional information

Address(es) of substantial product holder(s):

Mitsubishi UFJ Financial Group, Inc. - 2-7-1, Marunouchi, Chiyoda-ku, Tokyo 100-8330, Japan

First Sentier Investors Realindex Pty Ltd - Level 5, Tower Three International Towers Sydney, 300 Barangaroo Avenue, Barangaroo NSW 2000, Australia

First Sentier Investors (Australia) IM Ltd - Level 5, Tower Three International Towers Sydney, 300 Barangaroo Avenue, Barangaroo NSW 2000, Australia

Contact details:

Mariko Onda, Phone: [phone],E-mail:[e-mail]

Nature of connection between substantial product holders: First Sentier Investors (Australia) IM Ltd and First Sentier Investors Realindex Pty Ltd are wholly-owned subsidiaries of Mitsubishi UFJ Financial Group, Inc.

Name of any other person believed to have given, or believed to be required to give, a disclosure under the Financial Markets Conduct Act 2013 in relation to the financial products to which this disclosure relates: Not applicable

Certification

I, Mariko Onda, certify that, to the best of my knowledge and belief, the information contained in this disclosure is correct and that I am duly authorised to make this disclosure by all persons for whom it is made.

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Annexure A

Transaction details for subsidiaries of Mitsubishi UFJ Financial Group, Inc.

only

Natur

Number

Cash

Date of

e of

Class of

Holder of Relevant Interest

of

Consideration

Transaction

Trans

Securities

Securities

(NZD)

action

16-Aug-

First Sentier Investors (Australia) IM Ltd

BUY

Ordinary

43,840

133,584.86

2021

Shares

20-Aug-

First Sentier Investors (Australia) IM Ltd

BUY

Ordinary

11,701

35,688.05

2021

Shares

26-Aug-

First Sentier Investors (Australia) IM Ltd

BUY

Ordinary

31,938

112,421.76

2021

Shares

27-Aug-

First Sentier Investors Realindex Pty Ltd

SELL

Ordinary

-21,773

-76,503.79

2021

Shares

use

Ordinary

07-Sep-

First Sentier Investors (Australia) IM Ltd

BUY

10,847

38,506.85

2021

Shares

14-Sep-

First Sentier Investors Realindex Pty Ltd

BUY

Ordinary

93,203

324,580.24

2021

Shares

17-Sep-

First Sentier Investors Realindex Pty Ltd

BUY

Ordinary

4,273

14,699.12

2021

Shares

17-Sep-

First Sentier Investors (Australia) IM Ltd

BUY

Ordinary

15,130

52,047.20

2021

Shares

personal

Ordinary

21-Sep-

First Sentier Investors Realindex Pty Ltd

BUY

3,221

10,953.29

2021

Shares

21-Sep-

First Sentier Investors Realindex Pty Ltd

BUY

Ordinary

42,331

143,950.22

2021

Shares

21-Sep-

First Sentier Investors Realindex Pty Ltd

BUY

Ordinary

8,742

29,727.93

2021

Shares

21-Sep-

First Sentier Investors Realindex Pty Ltd

BUY

Ordinary

6,626

22,532.29

2021

Shares

28-Sep-

First Sentier Investors Realindex Pty Ltd

SELL

Ordinary

-5,566

-18,980.06

2021

Shares

05-Oct-

First Sentier Investors (Australia) IM Ltd

BUY

Ordinary

42,671

145,401.43

2021

Shares

11-Oct-

First Sentier Investors (Australia) IM Ltd

BUY

Ordinary

20,332

73,398.52

2021

Shares

15-Oct-

First Sentier Investors (Australia) IM Ltd

BUY

Ordinary

13,686

49,953.90

2021

Shares

27-Oct-

First Sentier Investors Realindex Pty Ltd

SELL

Ordinary

-5,627

-20,313.47

2021

Shares

For

Ordinary

29-Oct-

First Sentier Investors (Australia) IM Ltd

SELL

-12,116

-43,617.60

2021

Shares

01-Nov-

First Sentier Investors Realindex Pty Ltd

BUY

Ordinary

4,166

15,080.92

2021

Shares

11-Nov-

First Sentier Investors (Australia) IM Ltd

SELL

Ordinary

-9,543

-34,354.80

2021

Shares

5