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:18/05/2026
Date on which substantial holding began:13/05/2026
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: 29,449,552
(b) total in class: 587,289,009
(c) total percentage held in class: 5.0145%
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): Refer to Annexure A – Part 1
For that relevant interest,—
(a) number held in class: 29,449,552
(b) percentage held in class: 5.0145%
(c) current registered holder(s):
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 248,460 Ordinary fully
paid
As above Citicorp Nominees
Pty Ltd
Citicorp
Nominees Pty Ltd
14,238,219 Ordinary fully
paid

2
As above HSBC HSBC 99,165 Ordinary fully
paid
As above JP Morgan Chase
Nominees Pty Ltd
JP Morgan
Chase Nominees
Pty Ltd
5,346,544 Ordinary fully
paid
As above Northern Trust Northern Trust 366,581 Ordinary fully
paid
As above State Street - AUS State Street -
AUS
9,150,583 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): Refer to Annexure C
Contact details: Terence Kwong, terence.kwong@pinnacleinevestment.com
*Nature of connection between substantial product holders:
Name
Nature of Connection
Pinnacle Investment Management Group Limited
(PNI)
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 Holding Company Pty 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.
Pinnacle Investment Management Holdings Pty Ltd Related body corporate of each other entity listed.

3
Pingroup IM Limited (US) Related body corporate of each other entity listed.
PAM Summit Limited

Related body corporate of each other entity listed.
PAM Asset Management Holdings Limited Related body corporate of each other entity listed.
HJB Capital Asset Management Limited Related body corporate of each other entity listed.
Pacific Asset Management LLP Related body corporate of each other entity listed.
Pacific Capital Partners Limited Related body corporate of each other entity listed.
Pacific Asset Management Services LLP Related body corporate of each other entity listed.
Parallel Investment Management Limited Related body corporate of each other entity listed.
Enlighten ESG Limited Related body corporate of each other entity listed.
Tourbillon LLP 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 1Holder of relevant interest
Nature
of relevant interest
Number 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 Holding Company Pty 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 456PNI 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)Pinnacle Investment Management Holdings Pty Ltd (ACN 682 412 871)Pingroup IM Limited (US) (EIN 85-0920129)PAM Summit Limited (Company number 16995883)PAM Asset Management Holdings Limited (Company number 11289259)HJB Capital Asset Management Limited (Company number 10421506)Pacific Asset Management LLP (Company number OC421757)Pacific Capital Partners Limited (Company number 02849777)Pacific Asset Management Services LLP (Company number OC401436)Parallel Investment Management Limited (Company number 02996795)Enlighten ESG Limited (Company number 13598052)Tourbillon LLP (Company Number OC457067)
Relevant interest by virtue of section 237(b) of the Financial Markets Conduct Act 2013 as it has above 20% voting pow
er in the affiliated investment
managers set out in Annexure A – Part 2 and Pinnacle Fund Services Limited, who in turn have relevant interests in certain of the FPOs by virtue of sections 235(1)(c) and (d) of the Financial Markets Conduct Act (as the relevant affiliated investment manager or Pi
nnacle Funds Services Limited (as
applicable) has the power to control the exercise of the rights to vote attached to, and the power to dispose of, those FPOs).
29,449,552

Ordinary fully paid
Pinnacle Fund Services Limited (ACN 082 494 362)
Relevant interest by virtue of sections 235(1)(c) and (d) of the Financial
Markets Conduct Act (as it has the power to control the exercise of the rights to vote attached to, and the power to dispose of, certain of the FPOs (in its capacity as responsible entity or trustee of registered or unregistered schemes) and a relevant interest by virtue of section 237(b) as it has above 20% voting power in the affiliated inve
stment managers set out in Annexure A
– Part 2 who in turn have relevant interests in certain of the FPOs by virtue of sections 235(1)(c) and (d) of the Financial Markets Conduct Act (as the relevant affiliated investment manager has
the power to control the exercise of
the rights to vote attached to, and the power to dispose of, those FPOs).
29,449,552

Ordinary fully paid
Terence KwongCompany SecretaryDate: 18/05/2026

Annexure A - Part 2 Affiliated Investment Managers in which PNI a
nd each PNI Controlled Entity has over 20% voting
p
owe
r
Aikya Investment Management Limited (UK) (Company Number 12329682)Antipodes Partners Limited (ACN 602 042 035)Coolabah Capital Investments Pty Limited (ACN 153 327 872)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)North of South Capital LLP (Company number OC309016)North of South Capital DIFC Limited (Company number 8600)Terence KwongCompany SecretaryDate: 18/05/2026

Annexure BHolder of relevant interest
Trade Date
Number of securities
Class of Securities
Cash (NZD)
Non-cash
Pinnacle Investment Management Group Limited (and each PNI Controlled Entity listed in Annexure A)
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
As above
28/01/2026
7,706,058.64
$
200,000

ORDINARY FULLY PAID
As above
29/01/2026
12,291,696.48
$
318,817

ORDINARY FULLY PAID
As above
30/01/2026
6,129,452.10
$
157,685

ORDINARY FULLY PAID
As above
02/02/2026
6,138,969.67
$
157,500

ORDINARY FULLY PAID
As above
02/02/2026
177,044.70
-$
4,559
-
ORDINARY FULLY PAID
As above
03/02/2026
19,882,059.98
$
501,833

ORDINARY FULLY PAID
As above
04/02/2026
3,981,734.75
$
99,644

ORDINARY FULLY PAID
As above
04/02/2026
3,046,877.74
-$
76,475
-
ORDINARY FULLY PAID
As above
05/02/2026
17,433,475.22
$
442,197

ORDINARY FULLY PAID
As above
05/02/2026
1,328,826.15
-$
33,612
-
ORDINARY FULLY PAID
As above
06/02/2026
108,329.79
$
2,831

ORDINARY FULLY PAID
As above
06/02/2026
2,713,334.84
-$
71,018
-
ORDINARY FULLY PAID
As above
09/02/2026
527,896.61
-$
13,464
-
ORDINARY FULLY PAID
As above
12/02/2026
781,273.95
-$
20,000
-
ORDINARY FULLY PAID
As above
13/02/2026
7,121,094.39
-$
190,929
-
ORDINARY FULLY PAID
As above
16/02/2026
1,957,118.06
-$
53,559
-
ORDINARY FULLY PAID
As above
17/02/2026
1,525,553.33
-$
42,540
-
ORDINARY FULLY PAID
As above
18/02/2026
9,747,280.37
$
265,861

ORDINARY FULLY PAID
As above
18/02/2026
586,324.08
-$
16,072
-
ORDINARY FULLY PAID
Consideration

As above
19/02/2026
2,337,268.74
$
62,479

ORDINARY FULLY PAID
As above
20/02/2026
2,437,256.11
$
65,067

ORDINARY FULLY PAID
As above
23/02/2026
975,794.18
$
25,000

ORDINARY FULLY PAID
As above
23/02/2026
17,528,453.64
-$
450,000
-
ORDINARY FULLY PAID
As above
24/02/2026
819,821.74
$
20,742

ORDINARY FULLY PAID
As above
24/02/2026
11,836,318.01
-$
298,978
-
ORDINARY FULLY PAID
As above
25/02/2026
8,549,137.85
$
214,282

ORDINARY FULLY PAID
As above
25/02/2026
3,058,697.61
-$
76,663
-
ORDINARY FULLY PAID
As above
26/02/2026
2,754,481.69
$
67,224

ORDINARY FULLY PAID
As above
26/02/2026
162,356.86
-$
3,969
-
ORDINARY FULLY PAID
As above
27/02/2026
3,275,202.42
$
80,074

ORDINARY FULLY PAID
As above
02/03/2026
2,536,029.66
$
61,368

ORDINARY FULLY PAID
As above
03/03/2026
1,296,657.40
$
31,675

ORDINARY FULLY PAID
As above
03/03/2026
19,346,303.22
-$
473,393
-
ORDINARY FULLY PAID
As above
04/03/2026
1,364,239.55
$
33,306

ORDINARY FULLY PAID
As above
04/03/2026
5,182,469.46
-$
127,047
-
ORDINARY FULLY PAID
As above
04/03/2026
44,769,679.88
-$
1,097,518
-
ORDINARY FULLY PAID
As above
05/03/2026
2,024,911.73
$
49,749

ORDINARY FULLY PAID
As above
05/03/2026
1,231,345.30
-$
30,251
-
ORDINARY FULLY PAID
As above
06/03/2026
578,721.10
$
14,500

ORDINARY FULLY PAID
As above
09/03/2026
1,538,723.44
-$
40,435
-
ORDINARY FULLY PAID
As above
10/03/2026
713,009.35
$
18,696

ORDINARY FULLY PAID
As above
11/03/2026
495,357.30
$
12,749

ORDINARY FULLY PAID
As above
12/03/2026
765,170.07
$
19,692

ORDINARY FULLY PAID
As above
12/03/2026
9,030,296.12
-$
232,877
-
ORDINARY FULLY PAID
As above
16/03/2026
1,733,657.38
-$
45,277
-
ORDINARY FULLY PAID
As above
17/03/2026
93,822.66
-$
2,465
-
ORDINARY FULLY PAID
As above
18/03/2026
2,423,154.28
-$
62,672
-
ORDINARY FULLY PAID
As above
19/03/2026
124,230.99
-$
3,347
-
ORDINARY FULLY PAID
As above
24/03/2026
399,482.91
-$
10,994
-
ORDINARY FULLY PAID
As above
24/03/2026
1,231,155.26
$
33,912

ORDINARY FULLY PAID
As above
25/03/2026
65,450.26
-$
1,767
-
ORDINARY FULLY PAID
As above
25/03/2026
1,830,297.23
$
49,355

ORDINARY FULLY PAID
As above
26/03/2026
933,187.45
$
25,000

ORDINARY FULLY PAID
As above
27/03/2026
926,412.63
$
25,000

ORDINARY FULLY PAID

As above
30/03/2026
8,266,673.36
-$
228,313
-
ORDINARY FULLY PAID
As above
31/03/2026
7,810,346.11
-$
214,698
-
ORDINARY FULLY PAID
As above
31/03/2026
1,610,287.89
$
43,294

ORDINARY FULLY PAID
As above
01/04/2026
594,796.30
$
15,967

ORDINARY FULLY PAID
As above
02/04/2026
292,868.16
-$
-8,000
ORDINARY FULLY PAID
As above
02/04/2026
482,580.58
$
13,101
ORDINARY FULLY PAID
As above
07/04/2026
414,059.91
-$
11,000
-
ORDINARY FULLY PAID
As above
10/04/2026
842,630.46
$
21,836

ORDINARY FULLY PAID
As above
13/04/2026
406,327.86
-$
10,784
-
ORDINARY FULLY PAID
As above
14/04/2026
3,462,936.31
-$
91,237
-
ORDINARY FULLY PAID
As above
16/04/2026
773,514.62
$
20,000

ORDINARY FULLY PAID
As above
21/04/2026
758,401.56
$
20,000

ORDINARY FULLY PAID
As above
22/04/2026
981,194.38
$
26,319

ORDINARY FULLY PAID
As above
23/04/2026
230,616.80
-$
6,324
-
ORDINARY FULLY PAID
As above
28/04/2026
527,584.40
$
14,770

ORDINARY FULLY PAID
As above
29/04/2026
675,650.26
$
18,625

ORDINARY FULLY PAID
As above
30/04/2026
1,778,916.61
$
48,870

ORDINARY FULLY PAID
As above
06/05/2026
2,160,302.05
$
60,374

ORDINARY FULLY PAID
As above
07/05/2026
6,027,447.94
$
168,098

ORDINARY FULLY PAID
As above
11/05/2026
157,699.22
$
4,489

ORDINARY FULLY PAID
As above
12/05/2026
2,453,596.54
$
71,483

ORDINARY FULLY PAID
As above
13/05/2026
8,449,148.55
$
246,672

ORDINARY FULLY PAID
Terence KwongCompany SecretaryDate: 18/05/2026

Annexure CName
Address
Pinnacle Investment Management Group Limited
Lev
el 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 Holding Company Pty 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 Lt
d
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
Lev
el 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, Dash
wood 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
Lev
el 19, 307 Queen St, Brisbane QLD 4000, Australia
POSH Nominees Pty Limited
Level 19, 307 Queen St, Brisbane QLD 4000, Australia
Pinnacle Investment Management Holdings Pty Lt
d 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

PAM Summit Limited
74 Wigmore
Street, London, England, W1U 2SQ
PAM Asset Management Holdings Limited
74 Wigmore Street, London, England, W1U 2SQ
HJB Capital Asset Management Limited
74 Wigmore Street, London, England, W1U 2SQ
Pacific Asset Management LLP
74 Wigmore Street, London, England, W1U 2SQ
Pacific Capital Partners Limited
74 Wi
gmore Street, London, England, W1U 2SQ
Pacific Asset Management Services LLP
74
Wigmore Street, London, England, W1U 2SQ
Parallel Investment Management Limited
74
Wigmore Street, London, England, W1U 2SQ
Enlighten ESG Limited
74 Wigmore Street, London, England, W1U 2SQ
Tourbillon LLP
74 Wigmore Street, London, England, W1U 2SQ
Terence KwongCompany SecretaryDate: 18/05/2026