Nick Scali : Notice of change of interests of substantial holder from MFG

604 Page 1 of 2 15 July 2001

Form 604

Corporations Act 2001

Section 671B

Notice of change of interests of substantial holder

only

ToCompany Name/Scheme	Nick Scali Limited
ACN/ARSN	000 403 896

1. Details of substantial holder (1)

Magellan Financial Group Limited and its related bodies corporate in

NameAnnexure A ('Magellan')

ACN/ARSN (if applicable) Magellan (see Annexure A)

use

There was a change in the interests of the substantial holder on

The previous notice was given to the company on

The previous notice was dated

2. Previous and present voting power

21/02/2022

26/03/2021

26/03/2021

For personal

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

Class of securities (4)	Previous notice		Present notice
	Person's votes	Voting power (5)	Person's votes	Voting power (5)
ORDINARY FULLY PAID	4,950,473	6.11%	5,841,103	7.21%
SHARES

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate 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 (6)	Consideration given in	Class and number	Person's votes
change	relevant interest		relation to change (7)	of securities	affected
	changed			affected
Refer to	Magellan
Annexure
B

4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Holder of	Registered holder	Person entitled to be	Nature of relevant	Class and number	Person's votes
relevant	of securities	registered as holder	interest (6)	of securities
interest		(8)
Refer to
Annexure
B

604 Page 2 of 2 15 July 2001

For personal use only

5. Changes in association

The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) 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
N/A	N/A

6. Addresses

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

	Name	Address
	Magellan	Level 36, 25 Martin Place, Sydney NSW 2000

Signature

print name	Marcia Venegas	capacity	Company Secretary
sign here		date	23/02/2022

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 6 of the form.
2. See the definition of "associate" in section 9 of the Corporations Act 2001.
3. See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001.
4. The voting shares of a company constitute one class unless divided into separate classes.
5. The person's votes divided by the total votes in the body corporate or scheme multiplied by 100.
6. Include details of:
7. 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 associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.
2. If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write "unknown".
3. Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.

For personal use only

ANNEXURE A

1. Details of substantial holder M agellan:

Magellan Financial Group Limited ACN 108 437 592 ("MFG")

Magellan Asset Management Limited trading as Airlie Funds Management ACN 120 593 946 ("MAM")

MAM has a relevant interest in the securities pursuant to section 608(1)(b) and/or section 608(1)(c) of the Corporations Act 2001 (Cth) ("Act"), being a relevant interest arising from:

• having the power to exercise, or control the exercise of, a right to vote attached to the securities; and
• having the power to dispose of, or control the exercise of a power to dispose of, the securities,

in its capacity as responsible entity of the Airlie Australian Share Fund, as trustee of The Airlie Concentrated Share Fund and as investment manager of various Australian Equity institutional mandates.

MFG is an associate of MAM pursuant to section 12(2)(a) of the Act and has a relevant interest in the securities by virtue of section 608(3) of the Act.

ANNEXURE B

3. Changes in relevant interests

For personal use only

Date of Change	Transaction Type	Consideration	No. of securities	Class of securities
25/03/2021	Buy	$ 125,668.76	12,843	Ordinary Fully Paid
30/03/2021	Buy	$ 97,906.55	9,969	Ordinary Fully Paid
31/03/2021	Buy	$ 977,996.98	97,878	Ordinary Fully Paid
9/04/2021	Buy	$ 312,750.00	30,000	Ordinary Fully Paid
19/04/2021	Buy	$ 64,645.26	6,092	Ordinary Fully Paid
23/04/2021	Buy	$ 116,400.01	10,570	Ordinary Fully Paid
4/05/2021	Buy	$ 689,813.42	67,648	Ordinary Fully Paid
13/05/2021	Buy	$ 158,779.19	15,522	Ordinary Fully Paid
17/05/2021	Buy	$ 81,353.63	7,719	Ordinary Fully Paid
19/05/2021	Buy	$ 156,369.53	15,120	Ordinary Fully Paid
25/05/2021	Buy	$ 423,252.54	39,289	Ordinary Fully Paid
11/06/2021	Buy	$ 2,383,061.64	226,154	Ordinary Fully Paid
17/06/2021	Buy	$ 327,140.99	30,742	Ordinary Fully Paid
21/06/2021	Buy	$ 80,763.17	7,523	Ordinary Fully Paid
24/06/2021	Buy	$ 101,567.07	9,495	Ordinary Fully Paid
7/07/2021	Buy	$ 68,310.30	6,095	Ordinary Fully Paid
13/07/2021	Buy	$ 253,006.56	22,794	Ordinary Fully Paid
16/07/2021	Buy	$ 215,673.01	19,562	Ordinary Fully Paid
27/07/2021	Buy	$ 404,400.79	32,841	Ordinary Fully Paid
25/08/2021	Buy	$ 292,218.56	23,960	Ordinary Fully Paid
14/09/2021	Buy	$ 327,970.66	28,097	Ordinary Fully Paid
15/09/2021	Buy	$ 469,031.01	39,505	Ordinary Fully Paid
24/09/2021	In specie transfer	$ 978,492.12	85,908	Ordinary Fully Paid
1/10/2021	Buy	$ 2,222,392.76	204,199	Ordinary Fully Paid
4/10/2021	Buy	$ 1,132,253.42	93,594	Ordinary Fully Paid
5/10/2021	Buy	$ 170,266.87	13,965	Ordinary Fully Paid
8/12/2021	Buy	$ 273,069.56	18,425	Ordinary Fully Paid
14/12/2021	Buy	$ 136,664.10	9,000	Ordinary Fully Paid
14/01/2022	Buy	$ 89,836.46	6,435	Ordinary Fully Paid
17/01/2022	Buy	$ 11,617.34	830	Ordinary Fully Paid
24/01/2022	Buy	$ 1,534,309.47	112,486	Ordinary Fully Paid
25/01/2022	Buy	$ 663,320.00	50,000	Ordinary Fully Paid
27/01/2022	Buy	$ 498,519.79	37,514	Ordinary Fully Paid
7/02/2022	Buy	$ 1,167,351.47	83,847	Ordinary Fully Paid
8/02/2022	Buy	$ 1,864,090.37	141,048	Ordinary Fully Paid
9/02/2022	Buy	$ 339,677.74	24,632	Ordinary Fully Paid
11/02/2022	Buy	$ 2,649,410.50	200,000	Ordinary Fully Paid
14/02/2022	Buy	$ 1,184,203.12	90,656	Ordinary Fully Paid

For personal use only

Date of Change	Transaction Type	Consideration	No. of securities	Class of securities
15/02/2022	Buy	$ 115,270.51	8,877	Ordinary Fully Paid
16/02/2022	Buy	$ 268,283.07	20,654	Ordinary Fully Paid
17/02/2022	Buy	$ 1,306,867.95	101,815	Ordinary Fully Paid
18/02/2022	Buy	$ 679,065.81	53,676	Ordinary Fully Paid
21/02/2022	Buy	$ 1,214,048.43	96,324	Ordinary Fully Paid
		$ 26,627,090.46	2,213,303
Date of Change	Transaction Type	Consideration	No. of securities	Class of securities
22/04/2021	Sell	$ 550,625.00	50,000	Ordinary Fully Paid
23/04/2021	Sell	$ 221,200.00	20,000	Ordinary Fully Paid
26/04/2021	Sell	$ 1,775,689.72	159,647	Ordinary Fully Paid
28/04/2021	Sell	$ 104,186.77	9,340	Ordinary Fully Paid
29/04/2021	Sell	$ 279,197.50	25,000	Ordinary Fully Paid
8/06/2021	Sell	$ 386,809.50	35,000	Ordinary Fully Paid
1/07/2021	Sell	$ 310,704.50	26,926	Ordinary Fully Paid
2/07/2021	Sell	$ 168,235.17	14,682	Ordinary Fully Paid
7/07/2021	Sell	$ 223,298.00	20,000	Ordinary Fully Paid
8/07/2021	Sell	$ 153,427.84	13,749	Ordinary Fully Paid
9/07/2021	Sell	$ 217,150.00	20,000	Ordinary Fully Paid
22/07/2021	Sell	$ 185,145.00	15,000	Ordinary Fully Paid
23/07/2021	Sell	$ 181,354.50	15,000	Ordinary Fully Paid
27/07/2021	Sell	$ 95,967.50	7,783	Ordinary Fully Paid
28/07/2021	Sell	$ 147,849.36	12,213	Ordinary Fully Paid
30/07/2021	Sell	$ 154,411.95	12,580	Ordinary Fully Paid
2/08/2021	Sell	$ 185,118.00	15,000	Ordinary Fully Paid
5/08/2021	Sell	$ 462,210.76	36,761	Ordinary Fully Paid
6/08/2021	Sell	$ 245,352.45	20,113	Ordinary Fully Paid
9/08/2021	Sell	$ 246,036.00	20,000	Ordinary Fully Paid
10/08/2021	Sell	$ 186,823.93	15,048	Ordinary Fully Paid
12/08/2021	Sell	$ 146,522.92	11,269	Ordinary Fully Paid
13/08/2021	Sell	$ 206,613.62	16,233	Ordinary Fully Paid
18/10/2021	Sell	$ 80,154.90	5,716	Ordinary Fully Paid
4/11/2021	Sell	$ 1,484,426.51	96,461	Ordinary Fully Paid
8/11/2021	Sell	$ 689,555.38	44,484	Ordinary Fully Paid
9/11/2021	Sell	$ 110,272.84	7,199	Ordinary Fully Paid
10/11/2021	Sell	$ 612,358.50	39,507	Ordinary Fully Paid
12/11/2021	Sell	$ 297,399.83	19,160	Ordinary Fully Paid
15/11/2021	Sell	$ 830,526.00	53,137	Ordinary Fully Paid
16/11/2021	Sell	$ 197,089.39	12,712	Ordinary Fully Paid
17/11/2021	Sell	$ 4,198,224.50	270,074	Ordinary Fully Paid
18/11/2021	Sell	$ 1,756,000.66	111,247	Ordinary Fully Paid
19/11/2021	Sell	$ 1,150,567.78	71,632	Ordinary Fully Paid
		$ 18,240,506.28	1,322,673