First Sentier group ceases to be substantial Bega Cheese shareholder

First Sentier Group Limited, along with its related bodies corporate and associates, has ceased to be a substantial holder in Bega Cheese Ltd as of November 24, 2025. The previous notice to the company was given on October 30, 2025, and dated October 27, 2025.

The divestment involved numerous transactions, predominantly sales, executed by First Sentier Investors (Australia) IM Ltd and First Sentier Investors RQI Pty Ltd. On November 24, 2025, First Sentier Investors (Australia) IM Ltd conducted multiple sales, including transactions affecting 130,497 shares for AUD 778,440.70, 73,484 shares for AUD 438,346.76, and 85,329 shares for AUD 509,004.55.

Additional sales on November 24, 2025, by First Sentier Investors (Australia) IM Ltd included 37,684 shares for AUD 224,792.60, 21,021 shares for AUD 125,394.47, 34,215 shares for AUD 204,099.32, and 24,896 shares for AUD 148,509.62. The transactions between October 28, 2025, and November 19, 2025, involved both purchases and sales by these entities, demonstrating a significant shift in their holding in Bega Cheese Ltd.