SPH Notice - Pinnacle Investment Management Group Limited

1
Disclosure of beginning to have substantial holding
Section 276, Financial Markets Conduct Act 2013
To NZX and ASX
and
To Fisher & Paykel Healthcare Corp. Ltd
Date this disclosure made: 7 July 2025
Date on which substantial holding began:2 July 2025
Substantial product holder(s) giving disclosure
Full name(s): Pinnacle Investment Management Group Limited (and its subsidiaries listed
in Annexure A)
Summary of substantial holding
Class of quoted voting products: Ordinary Shares
Summary for Pinnacle Investment Management Group Limited (and its subsidiaries listed in
Annexure A)
For this disclosure,—
(a) total number held in class: 29,745,515
(b) total in class: 586,271,171
(c) total percentage held in class: 5.0737%
Details of relevant interests
Details for Pinnacle Investment Management Group Limited (and its subsidiaries listed in
Annexure A).
Nature of relevant interest(s): Relevant interest held through the power to control voting
and/or disposal of securities in its capacity as responsible entity or trustee of registered or
unregistered schemes and/or relevant interest by virtue of section 237 of the Financial
Markets Conduct Act 2013 as it has the power to exercise, or control the exercise of, the
right to vote attached to 20% or more of the voting products in one or more affiliated
investment managers (see Annexure A – Part 2) who each in turn hold relevant interests in
the financial products the subject of this notice. Relevant agreement documents need not
be attached under regulation 139.
For that relevant interest,—
(a) number held in class: 29,745,515
(b) percentage held in class: 5.0737%
(c) current registered holder(s):

2
Holder of
relevant interest
Registered
holder of
securities
Person entitled to be
registered as holder
Number of
securities
Class of securities
Pinnacle
Investment
Management
Group Limited
(and its
subsidiaries listed
in Annexure A)
BNP Paribas BNP Paribas 737,171 Ordinary fully paid
As above HSBC HSBC 88,781 Ordinary fully paid
As above
Citicorp
Nominees Pty
Ltd
Citicorp Nominees Pty
Ltd
13,965,620 Ordinary fully paid
As above JP Morgan
Chase
Nominees Pty
Ltd
JP Morgan Chase
Nominees Pty Ltd
4,858,856 Ordinary fully paid
As above
National
Nominees Ltd
National Nominees Ltd 5,000 Ordinary fully paid
As above
Northern Trust
Pty Ltd
Northern Trust Pty Ltd 757,045 Ordinary fully paid
As above
State Street
Australia Pty Ltd

State Street Australia
Pty Ltd
9,333,042 Ordinary fully paid

(d) registered holder(s) once transfers are registered: N/A
For a derivative relevant interest, also—
(a) type of derivative: N/A
(b) details of derivative: N/A
(c) parties to the derivative:N/A
(d) if the substantial product holder is not a party to the derivative, the nature of the
relevant interest in the derivative: N/A
Details of transactions and events giving rise to substantial holding
Details of the transactions or other events requiring disclosure: Refer to Annexure B
Additional information
Address(es) of substantial product holder(s):

3
Name
Address
Pinnacle Investment Management Group
Limited
Level 19, 307 Queen St, Brisbane QLD 4000, Australia
Pinnacle Fund Services Limited Level 19, 307 Queen St, Brisbane QLD 4000, Australia
Pinnacle Investment Management Limited Level 19, 307 Queen St, Brisbane QLD 4000, Australia
Ariano Pty Limited Level 19, 307 Queen St, Brisbane QLD 4000, Australia
Next Financial Limited Level 19, 307 Queen St, Brisbane QLD 4000, Australia
Next Financial Nominees Pty Ltd Level 19, 307 Queen St, Brisbane QLD 4000, Australia
Next Financial Nominees No. 2 Pty Ltd Level 19, 307 Queen St, Brisbane QLD 4000, Australia
Investment Solutions Client Services Pty Ltd Level 19, 307 Queen St, Brisbane QLD 4000, Australia
Priority Funds Management Pty Ltd Level 19, 307 Queen St, Brisbane QLD 4000, Australia
Priority Investment Management Pty Ltd Level 19, 307 Queen St, Brisbane QLD 4000, Australia
PNI Option Plan Managers Pty Ltd Level 19, 307 Queen St, Brisbane QLD 4000, Australia
Pinnacle Investment Management (UK)
Limited
7th Floor, Dashwood House, 69 Old Broad Street, London
EC2M 1QS, United Kingdom
Pinnacle RE Services Limited Level 19, 307 Queen St, Brisbane QLD 4000, Australia
Pinnacle Services Administration Pty Ltd Level 19, 307 Queen St, Brisbane QLD 4000, Australia
POSH Nominees Pty Limited Level 19, 307 Queen St, Brisbane QLD 4000, Australia
Pingroup IM Limited (US) c/o TMF Group New York, LLC, 48 Wall Street, 27
th
Floor,
New York NY 10005

Contact details: Calvin Kwok, calvin.kwok@pinnacleinvestment.com
*Nature of connection between substantial product holders:
Name
Nature of Association
Pinnacle Investment Management Group
Limited
Related body corporate of each other entity listed.
Pinnacle Investment Management Limited Related body corporate of each other entity listed.
Pinnacle Fund Services Limited Related body corporate of each other entity listed.

4
Ariano Pty Limited Related body corporate of each other entity listed.
Next Financial Limited Related body corporate of each other entity listed.
Next Financial Nominees Pty Ltd Related body corporate of each other entity listed.
Next Financial Nominees No. 2 Pty Ltd Related body corporate of each other entity listed.
Investment Solutions Client Services Pty
Ltd
Related body corporate of each other entity listed.
Priority Funds Management Pty Ltd Related body corporate of each other entity listed.
Priority Investment Management Pty Ltd Related body corporate of each other entity listed.
PNI Option Plan Managers Pty Ltd Related body corporate of each other entity listed.
Pinnacle RE Services Limited Related body corporate of each other entity listed.
Pinnacle Services Administration Pty Ltd Related body corporate of each other entity listed.
Pinnacle Investment Management (UK)
Limited
Related body corporate of each other entity listed.
POSH Nominees Pty Limited Related body corporate of each other entity listed.
Pingroup IM Limited (US) Related body corporate of each other entity listed.

Certification

I, Calvin Kwok, 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.

Annexure A - Part 1
Holder of relevant interestNature of relevant interestNumber of
securities
Class of
securities
Pinnacle Investment Management Group Limited (ACN 100 325 184)
Pinnacle Investment Management Limited (ACN 109 659 109)
Ariano Pty Limited (ACN 605 250 799)
Next Financial Limited (ACN 081 722 894)
Next Financial Nominees Pty Ltd (ACN 093 252 576)
Next Financial Nominees No. 2 Pty Ltd (ACN 132 819 115)
Investment Solutions Client Services Pty Ltd (ACN 117 898 334)
Priority Funds Management Pty Ltd (ACN 120 826 575)
Priority Investment Management Pty Ltd (ACN 116 943 456
PNI Option Plan Managers Pty Ltd (ACN 125 030 766)
Pinnacle RE Services Limited (ACN 130 508 379)
Pinnacle Services Administration Pty Ltd (ACN 126 175 148)
Pinnacle Investment Management (UK) Limited (Company Number 11026111)
POSH Nominees Pty Limited (ACN 620 094 251)
Pingroup IM Limited (US) (EIN 85-0920129)
Relevant interest by virtue of section 608(3)
of the Corporations Act as it or its associates holds directly or
indirectly above 20% voting power in one or more affiliated
investment managers (see Annexure A – Part 2) and Pinnacle
Fund Services Limited, who each in turn hold relevant
interests in the securities the subject of this notice, and
equivalent sections of the Financial Markets Conduct Act
2013.
29,745,515
Ordinary fully paid
Pinnacle Fund Services Limited (ACN 082 494 362)Relevant interest held through the power to control voting
and/or disposal of securities in its capacity as responsible
entity or trustee of registered or unregistered schemes and/or
relevant interest by virtue of section 608(3)
of the Corporations Act as it or its associates holds directly or
indirectly above 20% voting power in one or more affiliated
investment managers (see Annexure A – Part 2) who each in
turn hold relevant interests in the securities the subject of this
notice, and equivalent sections of the Financial Markets
Conduct Act 2013.
29,745,515
Ordinary fully paid
Calvin Kwok
Company Secretary
Date: 07/07/2025

Annexure A - Part 2
Affiliated Investment Managers in which Pinnacle has over 20% voting power
Aikya Investment Management Limited (UK) (Company Number 12329682)
Antipodes Partners Limited (ACN 602 042 035)
Coolabah Capital Investments Pty Limited (ACN 605 806 059)
Five V Capital Pty Limited (ACN 162 193 928)
Hyperion Asset Management Limited (ACN 080 135 897)
Langdon Equity Partners Limited (CA) (NRD 73210)
Life Cycle Investment Partners Limited (UK) (Company Number 15633723)
Metrics Credit Partners Pty Limited (ACN 150 646 996)
Palisade Investment Partners Limited (ACN 124 326 361)
Plato Investment Management Limited (ACN 120 730 136)
Resolution Capital Limited (ACN 108 584 167)
Solaris Investment Management Limited (ACN 128 512 621)
Riparian Capital Partners Pty Ltd (ACN 630 179 752)
Calvin Kwok
Company Secretary
Date: 07/07/2025

Annexure B
Holder of relevant
interest
Trade Date
Number of
securities Class of Securities
CashNon-cash
Pinnacle Investment
Management Group
Limited (and its
subsidiaries listed in
Annexure A)
03/03/2025
5,650,713.03-$ 167,178-
ORDINARY FULLY PAID
As above
04/03/2025
834,297.13-$ 25,000-
ORDINARY FULLY PAID
As above
05/03/2025
294,645.45-$ 8,609-
ORDINARY FULLY PAID
As above
12/03/2025
140,154.01$
4,199
ORDINARY FULLY PAID
As above
12/03/2025
1,739,280.16-$ 52,260-
ORDINARY FULLY PAID
As above
13/03/2025
1,646,254.37-$ 50,000-
ORDINARY FULLY PAID
As above
14/03/2025
4,084,768.17-$ 124,400-
ORDINARY FULLY PAID
As above
14/03/2025
4,771,010.28-$ 145,426-
ORDINARY FULLY PAID
As above
17/03/2025
363,835.46-$ 11,154-
ORDINARY FULLY PAID
As above
18/03/2025
38,438.71$ 1,200
ORDINARY FULLY PAID
As above
19/03/2025
2,171,376.97$ 67,103
ORDINARY FULLY PAID
As above
21/03/2025
231,850.36$ 7,131
ORDINARY FULLY PAID
As above
21/03/2025
228,660.77-$ 7,033-
ORDINARY FULLY PAID
As above
24/03/2025
305,758.46-$ 9,428-
ORDINARY FULLY PAID
As above
25/03/2025
189,210.62-$ 5,739-
ORDINARY FULLY PAID
As above
27/03/2025
247,262.93$ 7,236
ORDINARY FULLY PAID
As above
28/03/2025
675,748.45$ 20,000
ORDINARY FULLY PAID
As above
28/03/2025
12,753,618.61-$ 381,204-
ORDINARY FULLY PAID
As above
31/03/2025
669,541.62$ 20,046
ORDINARY FULLY PAID
As above
31/03/2025
315,230.65-$ 9,476-
ORDINARY FULLY PAID
As above
01/04/2025
1,551,208.54-$ 45,623-
ORDINARY FULLY PAID
As above
02/04/2025
932,652.93-$ 26,773-
ORDINARY FULLY PAID
As above
03/04/2025
1,448,583.53$ 42,111
ORDINARY FULLY PAID
As above
04/04/2025
17,909,065.56-$ 527,075-
ORDINARY FULLY PAID
As above
07/04/2025
7,478,136.79-$ 244,464-
ORDINARY FULLY PAID
As above
08/04/2025
1,743,039.69$ 55,949
ORDINARY FULLY PAID
As above
08/04/2025
5,114,824.85-$ 164,695-
ORDINARY FULLY PAID
As above
09/04/2025
614,213.69$ 20,000
ORDINARY FULLY PAID
As above
09/04/2025
21,656,527.11-$ 704,194-
ORDINARY FULLY PAID
As above
10/04/2025
2,566,670.03-$ 74,787-
ORDINARY FULLY PAID
As above
11/04/2025
4,477,050.36-$ 133,947-
ORDINARY FULLY PAID
As above
14/04/2025
1,123,568.81-$ 33,660-
ORDINARY FULLY PAID
As above
16/04/2025
674,483.31$ 20,000
ORDINARY FULLY PAID
As above
17/04/2025
155,582.03-$ 4,681-
ORDINARY FULLY PAID
As above
22/04/2025
406,354.36$ 12,338
ORDINARY FULLY PAID
As above
23/04/2025
604,401.31-$ 18,107-
ORDINARY FULLY PAID
As above
24/04/2025
2,924,872.26-$ 84,957-
ORDINARY FULLY PAID
As above
25/04/2025
4,721,086.18-$ 139,404-
ORDINARY FULLY PAID
As above
28/04/2025
605,995.50$ 17,478
ORDINARY FULLY PAID
Consideration (NZD)

As above
29/04/2025
1,090,234.61$ 31,731
ORDINARY FULLY PAID
As above
30/04/2025
3,438,996.23$ 100,788
ORDINARY FULLY PAID
As above
01/05/2025
1,089,969.90-$ 31,417-
ORDINARY FULLY PAID
As above
02/05/2025
710,350.36-$ 20,202-
ORDINARY FULLY PAID
As above
05/05/2025
354,913.86$ 10,000
ORDINARY FULLY PAID
As above
06/05/2025
1,712,764.94$ 48,248
ORDINARY FULLY PAID
As above
07/05/2025
892,247.40$ 25,000
ORDINARY FULLY PAID
As above
08/05/2025
897,166.24$ 25,000
ORDINARY FULLY PAID
As above
09/05/2025
899,781.10$ 25,000
ORDINARY FULLY PAID
As above
12/05/2025
1,101,658.90$ 31,066
ORDINARY FULLY PAID
As above
13/05/2025
4,525,845.45$ 125,432
ORDINARY FULLY PAID
As above
14/05/2025
764,048.07$ 21,080
ORDINARY FULLY PAID
As above
15/05/2025
2,218,396.90$ 59,546
ORDINARY FULLY PAID
As above
16/05/2025
294,015.39$ 7,914
ORDINARY FULLY PAID
As above
19/05/2025
34,145,212.06-$ 935,265-
ORDINARY FULLY PAID
As above
20/05/2025
1,981,884.68$ 56,013
ORDINARY FULLY PAID
As above
21/05/2025
1,646,558.49$ 45,000
ORDINARY FULLY PAID
As above
22/05/2025
141,515.80$ 3,850
ORDINARY FULLY PAID
As above
28/05/2025
491,471.06-$ 14,000-
ORDINARY FULLY PAID
As above
30/05/2025
938,924.65$ 26,185
ORDINARY FULLY PAID
As above
02/06/2025
4,345,234.81$ 116,273
ORDINARY FULLY PAID
As above
04/06/2025
739,174.22$ 20,000
ORDINARY FULLY PAID
As above
05/06/2025
745,651.06$ 20,000
ORDINARY FULLY PAID
As above
06/06/2025
8,918,617.23$ 238,954
ORDINARY FULLY PAID
As above
10/06/2025
1,212,316.87$ 33,011
ORDINARY FULLY PAID
As above
11/06/2025
170,169.99$ 4,622
ORDINARY FULLY PAID
As above
13/06/2025
734,653.53$ 20,000
ORDINARY FULLY PAID
As above
16/06/2025
4,651,315.20$ 127,617
ORDINARY FULLY PAID
As above
17/06/2025
223,810.68-$ 6,128-
ORDINARY FULLY PAID
As above
20/06/2025
183,555.59-$ 4,961-
ORDINARY FULLY PAID
As above
23/06/2025
263,665.88$ 7,193
ORDINARY FULLY PAID
As above
25/06/2025
1,005,440.68$ 27,486
ORDINARY FULLY PAID
As above
01/07/2025
3,442,763.73$ 93,049
ORDINARY FULLY PAID
As above
02/07/2025
24,746,543.92$ 661,606
ORDINARY FULLY PAID
Calvin Kwok
Company Secretary
Date: 07/07/2025