Citi group ceases as substantial holder in Propel Funeral Partners

Citigroup Global Markets Australia Pty Limited and its related entities in the Citi group ceased to be a substantial holder in Propel Funeral Partners Ltd (PFP) on September 8, 2025. This follows a series of changes in relevant interests by various Citigroup entities.

Citibank, N.A. Sydney Branch, acting as agent lender, decreased its relevant interest by 524,938 ordinary fully paid shares. Additionally, Citigroup Global Markets Inc reduced its holding by 6,075 ordinary fully paid shares, and Citigroup Global Markets Limited decreased its interest by 140,392 ordinary fully paid shares. These changes collectively led to the cessation of substantial holder status for the group.

The decreases in holdings were primarily due to contracts entered into subject to an obligation to return under securities lending agreements, as outlined in Annexure A of the notice.