Z Energy : ZEL) ceasing to have substantial holding

For personal use only

Disclosure of ceasing to have substantial holding

Section 279, Financial Markets Conduct Act 2013

To NZX Limited and

To Z Energy Ltd

Date this disclosure made: 24 December, 2021

Date last disclosure made: 17 December, 2021

Date on which substantial holding ceased: 21 December, 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 previous 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 last disclosure,-

1. total number held in class: 28,142,972
2. total in class: 520,136,969
3. total percentage held in class: 5.411%

For current holding after ceasing to have substantial holding,-

1. total number held in class: 22,983,911
2. total in class: 520,136,969
3. total percentage held in class: 4.419%

Details of transactions and events giving rise to ceasing of 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.

1

For personal use only

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

Date of

Nature

Number

Cash

Holder of Relevant

of

Class of

Transact

of

Consideration

Interest

Transa

Securities

ion

Securities

(NZD)

ction

14-Dec-

First Sentier Investors

SELL

Ordinary

-39,561

-137,190.40

2021

Realindex Pty Ltd

Shares

14-Dec-

First Sentier Investors

SELL

Ordinary

-1,273

-4,414.53

2021

Realindex Pty Ltd

Shares

14-Dec-

First Sentier Investors

SELL

Ordinary

-3,343

-11,592.92

2021

Realindex Pty Ltd

Shares

use

14-Dec-

First Sentier Investors

SELL

Ordinary

-17,902

-62,080.90

2021

Realindex Pty Ltd

Shares

14-Dec-

First Sentier Investors

BUY

Ordinary

27,718

96,458.64

2021

(Australia) IM Ltd

Shares

14-Dec-

First Sentier Investors

SELL

Ordinary

-3,863

-13,396.19

2021

Realindex Pty Ltd

Shares

17-Dec-

First Sentier Investors

SELL

Ordinary

-4,924

-17,184.76

2021

Realindex Pty Ltd

Shares

17-Dec-

First Sentier Investors

BUY

Ordinary

13,189

46,029.61

personalFor

2021

(Australia) IM Ltd

Shares

21-Dec-

First Sentier Investors

BUY

Ordinary

26,612

92,875.88

2021

(Australia) IM Ltd

Shares

3

For personal use only

Annexure B

Relevant interests held in the Morgan Stanley group

List of Morgan Stanley and its subsidiaries that have a relevant interest or are deemed to have a relevant interest in the shares.

Entities

└─┬─Morgan Stanley

├─┬─Morgan Stanley Capital Management, LLC

• └─┬─Morgan Stanley Domestic Holdings, Inc.
• ├─┬─Eaton Vance Acquisitions LLC
• │ └───Parametric Portfolio Associates LLC
• ├───Morgan Stanley & Co. LLC
• ├───Morgan Stanley Capital Services LLC
• └───Morgan Stanley Investment Management Inc.

└─┬─Morgan Stanley International Holdings Inc.

├─┬─Morgan Stanley (Australia) Securities Holdings Pty Limited

• └───Morgan Stanley Australia Securities Limited

└─┬─Morgan Stanley International Limited └─┬─Morgan Stanley Investments (UK)

└───Morgan Stanley & Co. International plc

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Annexure C

Transaction details for the Morgan Stanley group

only

Date of

Holder of

Transaction

Class and

Consideration

number of

Transaction

Relevant Interest

Nature

securities

Morgan Stanley

12/14/2021

Australia Securities

Sell

792.89 (AUD)

241 Ordinary Shares

Limited

use

12/14/2021

Morgan Stanley & Co.

Buy

2,091.00

600 Ordinary Shares

International plc

12/14/2021

Morgan Stanley & Co.

Buy

7,007.15

2,013 Ordinary Shares

International plc

12/14/2021

Morgan Stanley Capital

Sell

N/A

600 Swaps

Services LLC

personal

Morgan Stanley & Co.

Increase in shares

held or in respect of

Morgan Stanley & Co.

which the holder

12/14/2021

may exercise right to

N/A

64,557 Ordinary Shares

International plc

rehypothecate

pursuant to the

agreement(s)

Morgan Stanley

Investment

12/14/2021

Management Inc.

Buy

288.84

83 Ordinary Shares

Morgan Stanley

12/15/2021

Australia Securities

Sell

815.92 (AUD)

248 Ordinary Shares

Limited

For

12/15/2021

International plc

Buy

10,440.00

3,000 Ordinary Shares

12/15/2021

Morgan Stanley & Co.

Buy

5,610.14

1,613 Ordinary Shares

International plc

12/15/2021

Morgan Stanley Capital

Sell

N/A

3,000 Swaps

Services LLC

Increase in shares

Morgan Stanley & Co.

held or in respect of

12/15/2021

which the holder

N/A

210,789 Ordinary Shares

International plc

may exercise right to

rehypothecate

pursuant to the

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