NRW : Becoming a substantial holder from CBA

Form 603

Corporations Act 2001

Section 671B

Notice of initial substantial holder

	To: Company Name/Scheme:	NRW HOLDINGS LIMITED
	ACN/ARSN:	118 300 217
	1. Details of substantial holder
	Name		Commonwealth Bank of Australia ACN 123 123 124 (CBA) and its related bodies corporate listed in annexure A
	The holder became a substantial holder on:	25/11/2021
	2. Details of voting power
onlyThe total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or
use	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	Person's votes		Voting power (%)
Fully paid Ordinary shares		205,016	205,016		0.05%
			For the Securities (if any) listed below see NOTE 1 at the end of this form
	Class of securities		Number of securities	Person's votes		Voting power (%)
Fully paid Ordinary shares		22,288,677	22,288,677		4.96%
	Class of securities		Number of securities	Person's votes		Voting power (%)
		GRAND TOTAL
		Fully paid Ordinary shares		22,493,693	22,493,693		5.01%
For personal

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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
only		Relevant interest under paragraph 608(1)(a), 608(1)(b)
	and 608(1)(c) of the Corporations Act 2001 (Cth),
	being a relevant interest arising as a result of being the
	registered holder of the relevant securities in its
Avanteos Investments Limited	capacity as a superannuation trustee and in its capacity
as administrator of managed accounts. In addition, if	159,047 Fully paid Ordinary shares
ACN 096 259 979	any OTC derivatives, warrants or other securities
	(other than ordinary shares or ordinary units (as
	applicable)) are referred to below in this row, the
	relevant interest in respect of those securities arises
	under subsection 608(8) being an accelerated relevant
	interest held in the same capacity.
	Relevant interest under paragraph 608(1)(b) and/or
	608(1)(c) of the Corporations Act 2001 (Cth), being a
	relevant interest arising from having the power to
use		control the exercise of the right to vote attached to
Commonwealth Bank Officers	securities and/or to control the exercise of the power to
dispose of securities in its capacity as trustee for the
Superannuation Corporation Pty Limited	Officers' Superannuation Fund. In addition, if any	45,969 Fully paid Ordinary shares
ACN074 519 798	OTC derivatives, warrants or other securities (other
	than ordinary shares or ordinary units (as applicable))
	are referred to below in this row, the relevant interest
	in respect of those securities arises under subsection
	608(8) being an accelerated relevant interest held in
	the same capacity.
	Relevant interest under paragraph 608(1)(b) and/or
	608(1)(c) of the Corporations Act 2001 (Cth), being a
personal		relevant interest arising from having the residual
	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
		(which managed investment scheme is not managed
		by either Colonial First State Investments Limited or a
		related body corporate). In addition, if any OTC
		derivatives, warrants or other securities (other than
	Colonial First State Investments Limited (Note	ordinary shares or ordinary units (as applicable)) are
	referred to below in this row, the relevant interest in	22,288,677 Fully paid Ordinary shares
	1) ACN 002 348 352	respect of those securities arises under subsection
		608(8) being a residual accelerated relevant interest
		held in the same capacity. Colonial First State
		Investments Limited has authorised the manager of
		each such managed investment scheme to exercise the
		powers referred to in paragraph 608(1)(b) and/or
		608(1)(c) of the Corporations Act 2001 (Cth) in
		relation to those securities managed by the manager to
		the exclusion of Colonial First State Investments
		Limited except for provisions allowing Colonial First
		State Investments Limited to terminate the agreement
		with the manager or to exercise those powers where
		the agreement is terminated.
		Relevant interest under paragraph 608(1)(b) and/or
		608(1)(c) of the Corporations Act 2001 (Cth), being a
		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
	Colonial First State Investments Limited	dispose of securities in its capacity as a responsible
For	entity of a managed investment scheme (which	22,288,677 Fully paid Ordinary shares
ACN002 348 352	managed investment scheme is managed by Colonial
	First Statement Investments Limited or a related body
		corporate). In addition, if any OTC derivatives,
		warrants or other securities (other than ordinary shares
		or ordinary units (as applicable)) are referred to below
		in this row, the relevant interest in respect of those
		securities arises under subsection 608(8) being an
		accelerated relevant interest held in the same capacity.

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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	Registered holder of	Person entitled to be	Class and number of securities
	interest		securities	registered as holder
	Avanteos Investments Limited	Avanteos Investments Limited		159,047	Fully paid Ordinary
	ACN 096 259 979		shares
onlyusepersonalFor	Commonwealth Bank Officers	Citicorp Nominees Pty Limited		45,969	Fully paid Ordinary
Superannuation Corporation Pty Limited
ACN074 519 798	(Australia)			shares
	Colonial First State Investments Limited				Fully paid Ordinary
	(Note1)	ACN 002 348 352	Citibank N A Hong Kong		18,578,020 shares
	Colonial	First State Investments Limited	Citicorp Nominees Pty Limited		2,715,276	Fully paid Ordinary
	(Note1)	ACN 002 348 352	(Australia)			shares
	Colonial	First State Investments Limited	Northern Trust Company		724,113	Fully paid Ordinary
	(Note1)	ACN 002 348 352		shares
	Colonial	First State Investments Limited	UBS Nominees Pty Ltd		271,268	Fully paid Ordinary
	(Note1)	ACN 002 348 352				shares

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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:

Holder of relevant	Date of acquisition	Consideration	Class and number of securities
interest

CashNon-cash

See annexure B to this notice

For personal use only

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6. Associates

The reasons the persons named in paragraph 3 above are associates of the substantial holder are as follows:

	Name and ACN/ARSN (if applicable)	Nature of association
	Avanteos Investments Limited	ACN 096 259 979	An indirect wholly-owned subsidiary, and therefore related body corporate, of Commonwealth Bank
	of Australia
onlyusepersonalFor	Commonwealth Bank Officers		A direct wholly-owned subsidiary, and therefore related body corporate, of Commonwealth Bank of
Superannuation Corporation Pty	ACN 074 519 798
Australia
Limited
	Colonial First State Investments	ACN 002 348 352	An indirect wholly-owned subsidiary, and therefore related body corporate, of Commonwealth Bank
	Limited	of Australia

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