Form 603

Corporations Act 2001

Notice of initial substantial holder Section 671B

To: Company Name

ACN

1. Details of substantial shareholder

   
   

   The Secretary Independence Group NL Suite 4, Level 5

   85 South Perth Esplanade South Perth WA 6151

   Ph: (08) 9238 8300

   Fax: (08) 9238 8399

   
   

   092 786 304

   IGO

   Name & ACN (if applicable) National Australia Bank Limited (ACN 004 044 937) and its associated entities listed in

   Annexure A

   
   

   The holder became a substantial holder on 25/01/2016

   
   

2. Details of voting power 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 on the date the substantial holder became a substantial holder are as follows:

   
   

   Class of securities	Number of securities	Persons' votes	Voting power
   Fully paid ordinary shares	27,626,682	27,626,682	5.402%

   
   

3. Details of relevant interests

   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:

   Holder of relevant interest	Nature of relevant interest	Class and number of securities
   MLC Investments Limited	Power to control the voting and /or disposal of securities pursuant to its position as the responsible entity or trustee of various managed investment schemes and trusts	Fully paid ordinary shares 5,284,343
   MLC Wealth Management Limited	Power to control the voting and /or disposal of securities pursuant to its position as the responsible entity or trustee of various managed investment schemes and trusts	Fully paid ordinary shares 50,832
   Antares Capital Partners Limited	Power to control the voting and /or disposal of securities pursuant to its position as the responsible entity or trustee of various managed investment schemes or trusts.	Fully paid ordinary shares 2,618,116
   MLC Wealth Management Limited	Power to exercise voting rights pursuant to position held as the Registrable Superannuation Entity licensee for the superannuation products it issues.	Fully paid ordinary shares 47,387
   National Australia Bank Limited	Power to control the voting and /or disposal of securities pursuant to securities lending agreements.	Fully paid ordinary shares 12,710,821
   National Australia Bank Limited	Relevant interest arising as a result of National Australia Bank Limited having voting power above 20% in Pengana Holdings Pty Limited who controls Pengana Capital Limited, an investment manager of various unit trusts.	Fully paid ordinary shares 202,112
   National Australia Bank Limited	Power to control the voting and /or disposal of securities pursuant to securities lending agreements.	Fully paid ordinary shares 432,230
   Antares Capital Partners Limited	Power to control the voting and /or disposal of securities pursuant to its position as the responsible entity or trustee of various managed investment schemes or trusts.	Fully paid ordinary shares 1,539,171

   
   

   Antares Capital Partners Limited	Power to control the voting and /or disposal of securities pursuant to its position as an investment manager in accordance with investment mandates and as an investment manager of Antares Capital Partners Limited trusts.	Fully paid ordinary shares 4,741,670
   TOTAL	27,626,682

   
   

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	Registered holder of securities	Person entitled to be registered as holder	Class and number of securities
   MLC Investments Limited	National Nominees Limited (ACN 004 278 899)	Fully paid ordinary shares 5,284,343
   MLC Wealth Management Limited	National Nominees Limited (ACN 004 278 899)	Fully paid ordinary shares 50,832
   Antares Capital Partners Limited	National Nominees Limited (ACN 004 278 899)	Fully paid ordinary shares 2,618,116
   MLC Wealth Management Limited	Navigator Australia Limited (ACN 006 302 987)	Fully paid ordinary shares 47,387
   National Australia Bank Limited	National Nominees Limited (ACN 004 278 899)	Fully paid ordinary shares 12,710,821
   National Australia Bank Limited	BNP Paribas Nominees Pty Limited (ACN 084 150 023)	Fully paid ordinary shares 202,112
   National Australia Bank Limited	National Nominees Limited (ACN 004 278 899)	Fully paid ordinary shares 432,230
   Antares Capital Partners Limited	National Nominees Limited (ACN 004 278 899)	Fully paid ordinary shares 1,539,171
   Antares Capital Partners Limited	JP Morgan Nominees Australia Limited (ACN 002 899 961)	Fully paid ordinary shares 4,741,670
   TOTAL	27,626,682

   
   

5. Consideration

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: