Challenger reduces stake in Elanor Investors Group, alters shareholder position

Challenger Limited, along with its associated entities, has announced a substantial change in its holding in Elanor Investors Group, effective October 22, 2025. The investment firm's voting power in Elanor Investors Group's ordinary fully paid shares and stapled securities has reduced from 13.62% to 5.65%.

This change involved the disposition of 12,377,083 stapled securities. The reduction occurred through clawback/buyback arrangements approved by Elanor's securityholders at an Executive General Meeting held on June 30, 2023, as detailed in meeting notices issued on May 29, 2023, and June 16, 2023. The consideration for this change was recorded as $1.

Post-change, Challenger Limited holds 7,903,398 ordinary fully paid shares and 4,473,684 stapled securities directly through Fidante Partners Holdco1 Pty Ltd. This move significantly adjusts Challenger's influence within Elanor Investors Group.