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:30/01/2026
Date on which substantial holding began:27/01/2026
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 – Part 1)
For this disclosure,—
(a) total number held in class: 29,649,653
(b) total in class: 587,276,425
(c) total percentage held in class: 5.0487%
Details of relevant interests
Details for Pinnacle Investment Management Group Limited (and its subsidiaries listed in
Annexure A – Part 1)
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: 29,649,653
(b) percentage held in class: 5.0487%
(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 460,579 Ordinary
fully paid
As above Citicorp Nominees
Pty Ltd
Citicorp Nominees
Pty Ltd
13,362,261 Ordinary
fully paid
As above HSBC HSBC 88,781 Ordinary
fully paid
As above JP Morgan Chase
Nominees Pty Ltd
JP Morgan Chase
Nominees Pty Ltd
4,782,429 Ordinary
fully paid
As above Northern Trust Northern Trust 820,273 Ordinary
fully paid
As above State Street - AUS State Street - AUS 10,135,330 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) 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):
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

3
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: Terence Kwong, terence.kwong@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.
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, Terence Kwong, 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.
29,649,653
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.
29,649,653
Ordinary fully
paid
Terence Kwong
Company Secretary
Date: 30/01/2026

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)
Terence Kwong
Company Secretary
Date: 30/01/2026

Annexure B
Holder of relevant interest
Trade Date Number of securities Class of Securities
Cash (NZD)Non-cash
Pinnacle Investment Management
Group Limited (and its
subsidiaries listed in Annexure A)
29/09/2025
1,499,869.20-$ 40,938-
O
RDINARY FULLY PAID
As above
30/09/2025
1,854,081.72-$ 50,
110-
ORDINARY FULLY PAID
As above
01/10/2025
5,217,922.99-$ 141,
076-
ORDINARY FULLY PAID
As above
03/10/2025
1,645,904.71$ 43,
693
O
RDINARY FULLY PAID
As above
06/10/2025
508,247.27$ 13,
475
ORDINARY FULLY PAID
As above
07/10/2025
3,615,126.90$ 95,
161
ORDINARY FULLY PAID
As above
08/10/2025
4,612,592.04$ 122,
592
O
RDINARY FULLY PAID
As above
09/10/2025
376,188.47$ 10,
032
ORDINARY FULLY PAID
As above
10/10/2025
362,340.45$ 10,
033
ORDINARY FULLY PAID
As above
16/10/2025
40,883,810.44$ 1,
133,927
O
RDINARY FULLY PAID
As above
17/10/2025
998,776.79-$ 27,
993-
ORDINARY FULLY PAID
As above
21/10/2025
168,362.02$ 4,
752
ORDINARY FULLY PAID
As above
22/10/2025
159,981.87$ 4,
573
ORDINARY FULLY PAID
As above
23/10/2025
1,407,552.13$ 39,
625
ORDINARY FULLY PAID
As above
24/10/2025
82,029.82-$ 2,
300-
ORDINARY FULLY PAID
As above
27/10/2025
154,496.24$ 4,
386
ORDINARY FULLY PAID
As above
28/10/2025
4,181,246.14$ 118,
136
ORDINARY FULLY PAID
As above
30/10/2025
460,882.76$ 12,
684
ORDINARY FULLY PAID
As above
31/10/2025
1,596,338.27$ 43,
244
ORDINARY FULLY PAID
As above
03/11/2025
27,144,227.84-$ 742,
869-
ORDINARY FULLY PAID
As above
05/11/2025
1,379,653.40$ 36,
719
ORDINARY FULLY PAID
As above
06/11/2025
16,555,469.09-$ 437,
719-
ORDINARY FULLY PAID
As above
07/11/2025
3,258.32$ 85
O
RDINARY FULLY PAID
As above
10/11/2025
4,632,275.46-$ 120,
326-
ORDINARY FULLY PAID
As above
11/11/2025
21,441,537.81-$ 564,
744-
ORDINARY FULLY PAID
As above
12/11/2025
7,043,084.92-$ 184,
112-
ORDINARY FULLY PAID
Consideration

As above
13/11/2025
13,156,856.15-$ 346,185-
ORDINARY FULLY PAID
As above
14/11/2025
26,759,020.38-$ 710,898-
ORDINARY FULLY PAID
As above
17/11/2025
10,724,967.69-$
291,055-
ORDINARY FULLY PAID
As above
18/11/2025
6,446,379.63-$ 175,000-
ORDINARY FULLY PAID
As above
19/11/2025
5,800,380.62-$ 156,823-
ORDINARY FULLY PAID
As above
20/11/2025
35,858,843.01-$ 974,582-
ORDINARY FULLY PAID
As above
21/11/2025
11,253,049.37-$ 308,399-
ORDINARY FULLY PAID
As above
24/11/2025
7,623,744.05-$ 204,475-
ORDINARY FULLY PAID
As above
25/11/2025
6,368,817.89-$ 172,016-
ORDINARY FULLY PAID
As above
26/11/2025
849,769.31-$
22,200-
ORDINARY FULLY PAID
As above
27/11/2025
2,973,531.22-$ 78,660-
ORDINARY FULLY PAID
As above
28/11/2025
2,744,545.22-$ 73,622-
ORDINARY FULLY PAID
As above
01/12/2025
1,377,830.61$
36,713
ORDINARY FULLY PAID
As above
02/12/2025
1,559,508.69$ 41,001
ORDINARY FULLY PAID
As above
03/12/2025
14,704,228.66-$ 389,600-
ORDINARY FULLY PAID
As above
04/12/2025
1,136,847.90-$
30,000-
ORDINARY FULLY PAID
As above
05/12/2025
1,135,881.45-$ 30,000-
ORDINARY FULLY PAID
As above
09/12/2025
1,142,104.85-$ 30,000-
ORDINARY FULLY PAID
As above
10/12/2025
1,130,606.65-$
30,000-
ORDINARY FULLY PAID
As above
12/12/2025
18,622,711.35-$ 502,532-
ORDINARY FULLY PAID
As above
17/12/2025
48,096.73-$ 1,301-
ORDINARY FULLY PAID
As above
18/12/2025
396,391.52$ 10,780
ORDINARY FULLY PAID
As above
22/12/2025
350,217.27$ 9,243
ORDINARY FULLY PAID
As above
29/12/2025
413,396.91-$ 11,062-
ORDINARY FULLY PAID
As above
30/12/2025
34,498.01-$ 917-
ORDINARY FULLY PAID
As above
31/12/2025
2,633,084.66$ 69,593
ORDINARY FULLY PAID
As above
02/01/2026
1,130,423.09$ 30,000
ORDINARY FULLY PAID
As above
06/01/2026
472,460.74$ 12,491
ORDINARY FULLY PAID
As above
07/01/2026
737,453.05$ 18,936
ORDINARY FULLY PAID
As above
08/01/2026
1,653,082.28$ 42,541
ORDINARY FULLY PAID
As above
09/01/2026
3,163,210.90$ 82,021
ORDINARY FULLY PAID
As above
12/01/2026
2,031,901.74$ 52,841
ORDINARY FULLY PAID
As above
13/01/2026
796,832.95$ 20,465
ORDINARY FULLY PAID

As above
14/01/2026
7,719,002.28$
198,162
ORDINARY FULLY PAID
As above
15/01/2026
3,704,952.91$
94,395
ORDINARY FULLY PAID
As above
19/01/2026
3,275,156.34$
85,145

ORDINARY FULLY PAID
As above
20/01/2026
15,419,238.45$
400,000
ORDINARY FULLY PAID
As above
21/01/2026
7,790,963.84$
202,165
ORDINARY FULLY PAID
As above
22/01/2026
3,658,495.62$
95,000
ORDINARY FULLY PAID
As above
23/01/2026
4,109,163.46$
106,147
ORDINARY FULLY PAID
As above
27/01/2026
16,799,389.42$
433,702
ORDINARY FULLY PAID
Terence Kwong
Company Secretary
Date: 30/01/2026