GUD : Ceasing to be a substantial holder

605 Page 1 of 2

Form 605

Corporations Act

2001 Section 671B

Notice of ceasing to be a substantial holder

For personal use only

ToCompany Name/Scheme		G.U.D. Holdings Limited
ACN/ARSN/ABN	99 004 400 891
1. Details of substantial holder (1)
Name	JPMorgan Chase & Co. and its affiliates
ACN/ARSN (if applicable)	NA

The holder ceased to be a substantial holder on	22/02/2022
The previous notice was given to the company on	22/02/2022
The previous notice was dated	18/02/2022

2. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest (2) of the substantial holder or an associate (3) in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date of	Person whose	Nature of change (4)	Consideration	Class (6) and	Person's votes
change	relevant interest		given in relation	number of	affected
	changed		to change (5)	securities affected
	JPMORGAN CHASE	Securities on Loan as Agent		4,674,681	4,674,681
See Appendix	BANK, N.A.	Lender	See Appendix	(Ordinary)	(Ordinary)
	J.P. MORGAN	Holder of securities subject
	SECURITIES	to an obligation to return
	AUSTRALIA	under a securities lending		4,228,000	4,228,000
See Appendix	LIMITED	agreement	See Appendix	(Ordinary)	(Ordinary)
	J.P. MORGAN
	SECURITIES	Purchase and sales of
	AUSTRALIA	securities in its capacity as		9,446	9,446
See Appendix	LIMITED	Principal/Proprietary	See Appendix	(Ordinary)	(Ordinary)

3. Changes in association

The persons who have become associates (3) of, ceased to be associates of, or have changed the nature of their association (7) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name and ACN/ARSN (if applicable)	Nature of association
JPMORGAN CHASE BANK, N.A.		Subsidiary of JPMorgan Chase & Co
J.P. MORGAN SECURITIES		Subsidiary of JPMorgan Chase & Co
AUSTRALIA LIMITED

605 Page 2 of 2

4. Addresses

The addresses of persons named in this form are as follows:

For personal use only

Name	Address
JPMorgan Chase & Co.	383 Madison Avenue, New York, New York, NY, 10179, United States
JPMORGAN CHASE BANK, N.A.	1111 Polaris Parkway, Columbus, Delaware, OH, 43240, United States
J.P. MORGAN SECURITIES	LEVEL 18, 83-85 CASTLEREAGH STREET, SYDNEY, NS, NSW 2000, Australia
AUSTRALIA LIMITED

Signature

print nameVasim Pathancapacity Compliance Officer

sign here	date	24/02/2022

DIRECTIONS

1. If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 4 of the form.
2. See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001.
3. See the definition of "associate" in section 9 of the Corporations Act 2001.
4. Include details of:
5. 1. any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a copy of any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and
   2. any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

1. Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was
   acquired has, or may, become entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its ssociate ain relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.
2. The voting shares of a company constitute one class unless divided into separate classes.
3. G ive details, if appropriate, of the present association and any change in that association since the last substantial holding notice.

TRADES FOR RELEVANT PERIOD
	Transaction Date
Balance at start of relevant period
	21-Feb-22
	21-Feb-22
only	21-Feb-22
21-Feb-22
21-Feb-22
21-Feb-22
	21-Feb-22
	21-Feb-22
	21-Feb-22
	21-Feb-22
	21-Feb-22
	21-Feb-22
	21-Feb-22
	21-Feb-22
	21-Feb-22
	21-Feb-22
	21-Feb-22
	21-Feb-22
	21-Feb-22
	21-Feb-22
	21-Feb-22
use	21-Feb-22
21-Feb-22
21-Feb-22
22-Feb-22
	21-Feb-22
	21-Feb-22
	21-Feb-22
	21-Feb-22
	21-Feb-22
	21-Feb-22
	21-Feb-22
	22-Feb-22
	22-Feb-22
	22-Feb-22
	22-Feb-22
	22-Feb-22
	22-Feb-22
personalFor	22-Feb-22
22-Feb-22
22-Feb-22
22-Feb-22
	22-Feb-22
	22-Feb-22
	22-Feb-22
	22-Feb-22
	22-Feb-22
	22-Feb-22
Bala ce at end of relevant period

						Appendix
Entity	Product Type	Type of Transaction	Quantity	Price (AUD)		Consideration
			9,663,870
J.P. MORGAN SECURITIES AUSTRALIA LIMITED	Equity	Sell	(165)	11.83	$	1,951.95
J.P. MORGAN SECURITIES AUSTRALIA LIMITED	Equity	Sell	(1,836)	11.83	$	21,719.88
J.P. MORGAN SECURITIES AUSTRALIA LIMITED	Equity	Sell	(57)	12.09	$	689.13
J.P. MORGAN SECURITIES AUSTRALIA LIMITED	Equity	Buy	57	12.09	$	689.13
J.P. MORGAN SECURITIES AUSTRALIA LIMITED	Equity	Sell	(14,084)	12.09	$	170,275.56
J.P. MORGAN SECURITIES AUSTRALIA LIMITED	Equity	Sell	(48)	12.09	$	580.32
J.P. MORGAN SECURITIES AUSTRALIA LIMITED	Equity	Buy	48	12.09	$	580.32
J.P. MORGAN SECURITIES AUSTRALIA LIMITED	Equity	Sell	(1,018)	11.99	$	12,205.82
J.P. MORGAN SECURITIES AUSTRALIA LIMITED	Equity	Sell	(82)	11.99	$	983.18
J.P. MORGAN SECURITIES AUSTRALIA LIMITED	Equity	Sell	(2,044)	11.99	$	24,507.56
J.P. MORGAN SECURITIES AUSTRALIA LIMITED	Equity	Buy	267	12.12	$	3,236.04
J.P. MORGAN SECURITIES AUSTRALIA LIMITED	Equity	Buy	2,000	11.85	$	23,700.00
J.P. MORGAN SECURITIES AUSTRALIA LIMITED	Equity	Buy	1,025	12.02	$	12,319.99
J.P. MORGAN SECURITIES AUSTRALIA LIMITED	Equity	Buy	82	11.87	$	973.53
J.P. MORGAN SECURITIES AUSTRALIA LIMITED	Equity	Buy	7,697	12.09	$	93,056.73
J.P. MORGAN SECURITIES AUSTRALIA LIMITED	Equity	Buy	87	11.90	$	1,034.98
J.P. MORGAN SECURITIES AUSTRALIA LIMITED	Equity	Buy	26	11.90	$	309.40
J.P. MORGAN SECURITIES AUSTRALIA LIMITED	Equity	Sell	(1,377)	11.85	$	16,318.35
J.P. MORGAN SECURITIES AUSTRALIA LIMITED	Equity	Sell	(44)	11.88	$	522.72
J.P. MORGAN SECURITIES AUSTRALIA LIMITED	Equity	Sell	(653)	11.85	$	7,739.04
J.P. MORGAN SECURITIES AUSTRALIA LIMITED	Equity	Buy	154	12.09	$	1,861.86
J.P. MORGAN SECURITIES AUSTRALIA LIMITED	Equity	Sell	(987)	11.89	$	11,735.43
J.P. MORGAN SECURITIES AUSTRALIA LIMITED	Equity	Sell	(165)	11.87	$	1,958.55
J.P. MORGAN SECURITIES AUSTRALIA LIMITED	Equity	Buy	165	11.87	$	1,958.55
J.P. MORGAN SECURITIES AUSTRALIA LIMITED	Equity	Sell	(1,080)	12.09	$	13,057.20
J.P. MORGAN SECURITIES AUSTRALIA LIMITED	Equity	Buy	5,424	12.08	$	65,494.80
J.P. MORGAN SECURITIES AUSTRALIA LIMITED	Equity	Sell	(5,424)	12.08	$	65,494.80
J.P. MORGAN SECURITIES AUSTRALIA LIMITED	Equity	Borrow return	(1,100,000)	-	$	-
J.P. MORGAN SECURITIES AUSTRALIA LIMITED	Equity	Borrow return	(4,250,000)	-	$	-
J.P. MORGAN SECURITIES AUSTRALIA LIMITED	Equity	Borrow	1,100,000	-	$	-
J.P. MORGAN SECURITIES AUSTRALIA LIMITED	Equity	Borrow	22,000	-	$	-
J.P. MORGAN SECURITIES AUSTRALIA LIMITED	Equity	Sell	(2,804)	11.83	$	33,171.32
J.P. MORGAN SECURITIES AUSTRALIA LIMITED	Equity	Sell	(1,670)	12.09	$	20,190.30
J.P. MORGAN SECURITIES AUSTRALIA LIMITED	Equity	Buy	2,333	11.93	$	27,834.92
J.P. MORGAN SECURITIES AUSTRALIA LIMITED	Equity	Sell	(515)	11.85	$	6,103.41
J.P. MORGAN SECURITIES AUSTRALIA LIMITED	Equity	Buy	10	11.84	$	118.36
J.P. MORGAN SECURITIES AUSTRALIA LIMITED	Equity	Sell	(6,349)	11.82	$	75,027.06
J.P. MORGAN SECURITIES AUSTRALIA LIMITED	Equity	Buy	1,670	11.90	$	19,877.70
J.P. MORGAN SECURITIES AUSTRALIA LIMITED	Equity	Buy	3,582	11.83	$	42,375.06
J.P. MORGAN SECURITIES AUSTRALIA LIMITED	Equity	Buy	5,237	12.09	$	63,302.33
J.P. MORGAN SECURITIES AUSTRALIA LIMITED	Equity	Sell	(208)	11.82	$	2,458.56
J.P. MORGAN SECURITIES AUSTRALIA LIMITED	Equity	Buy	105	11.82	$	1,241.10
J.P. MORGAN SECURITIES AUSTRALIA LIMITED	Equity	Sell	(724)	11.83	$	8,564.92
J.P. MORGAN SECURITIES AUSTRALIA LIMITED	Equity	Buy	724	11.83	$	8,564.92
J.P. MORGAN SECURITIES AUSTRALIA LIMITED	Equity	Buy	471	11.93	$	5,620.81
J.P. MORGAN SECURITIES AUSTRALIA LIMITED	Equity	Adjustment	724	-	$	-
JPMORGAN CHASE BANK, N.A.	Equity	Borrow Return	(2,939,221)	-	$	-
JPMORGAN CHASE BANK, N.A.	Equity	Borrow Return	(1,735,460)	-	$	-
			751,743

1/1

Appendix: Prescribed information pursuant to securities lending arrangement disclosed under the substantial shareholding notice filed with ASX.

	Date:	24-Feb-22
	Company's name:	G.U.D. HOLDINGS LTD
	ISIN:	AU000000GUD2
only	Date of change of	22-Feb-22
relevant interests:
Schedule	07-Feb-2022
	Type of agreement	Global Master Securities Lending Agreement ("GMSLA")
	Parties to	JPMorgan Chase Bank, N.A. (acting as agent) ("lender") and BNP Paribas Arbitrage SNC (Borrower)
	agreement
		Settlement Date
	Transfer date	30-Nov-2021
	08-Dec-2021
		09-Dec-2021
use	Holder of voting	Borrower
rights
	Are there any
	restriction on	Yes
	voting rights
		The borrower undertakes to use its best endeavors to arrange for the voting rights to be exercised in
	If yes, detail	accordance with the instructions of the lender, provided that the lender uses its best endeavors to notify the
	borrower of its instructions in writing no later than 7 business days prior to the date upon which such votes
		are exercisable or as otherwise agreed between the parties. This undertaking is set out in clause 6.6 of the
personal		standard form GMSLA.
Scheduled return	None
date (if any)
	Does the borrower
	have the right to	Yes
	return early?
	If yes, detail	Borrower has right to return all and any equivalent securities early at any time in accordance with the
	lender's instructions.
	Does the lender
	have the right to	Yes
	recall early?
		Lender has right to recall all or any equivalent securities at any time by giving notice on any business day of
		not less than the standard settlement time for such equivalent securities on the exchange or in the clearing
	If yes, detail	organisation through which the relevant borrowed securities were originally delivered (and where there is a
	difference between the settlement time for sales and purchases on the relevant exchange or clearing
		organisation, the standard settlement time shall be the shorter of the two times). The borrower must return
		the securities not later than the expiry of such notice in accordance with the lender's instructions.
	Will the securities
	be returned on	Yes
	settlement?
For	If yes, detail any	No exceptions
exceptions
Statement	If requested by the company to whom the prescribed form must be given, or if requested by ASIC, a copy of
the agreement will be given to that company or ASIC.

Appendix: Prescribed information pursuant to securities lending arrangement disclosed under the substantial shareholding notice filed with ASX.

	Date:	24-Feb-22
	Company's name:	G.U.D. HOLDINGS LTD
	ISIN:	AU000000GUD2
only	Date of change of	22-Feb-22
relevant interests:
Schedule
	Type of agreement	Australian Master Securities Lending Agreement ("AMSLA")
	Parties to	JPMorgan Chase Bank, N.A. (acting as agent) ("lender") and Credit Suisse Equities (Australia)
	agreement	Limited(Borrower)
	Transfer date	Settlement Date
		13-Jan-2022
	Holder of voting	Borrower
	rights
use	Are there any
restriction on	Yes
voting rights
	The borrower undertakes to use its best endeavors to arrange for the voting rights to be exercised in
If yes, detail	accordance with the instructions of the lender, provided that the lender uses its best endeavors to notify the
borrower of its instructions in writing no later than 7 business days prior to the date upon which such votes
	are exercisable or as otherwise agreed between the parties. This undertaking is set out in clause 4.3 of the
	standard form AMSLA.
Scheduled return	None
date (if any)
personal	Does the borrower
have the right to	Yes
Statement	If requested by the company to whom the prescribed form must be given, or if requested by ASIC, a copy of
	return early?
	If yes, detail	Borrower has right to return all and any equivalent securities early at any time in accordance with the
		lender's instructions.
	Does the lender
	have the right to	Yes
	recall early?
		Lender has right to recall all or any equivalent securities at any time by giving notice on any business day of
		not less than the standard settlement time for such equivalent securities on the exchange or in the clearing
	If yes, detail	organisation through which the relevant borrowed securities were originally delivered (and where there is a
	difference between the settlement time for sales and purchases on the relevant exchange or clearing
		organisation, the standard settlement time shall be the shorter of the two times). The borrower must return
		the securities not later than the expiry of such notice in accordance with the lender's instructions.
	Will the securities
	be returned on	Yes
	settlement?
	If yes, detail any	No exceptions
	exceptions
For		the agreement will be given to that company or ASIC.