State Street becomes substantial holder in Nick Scali Limited

State Street Corporation and its subsidiaries became a substantial holder in Nick Scali Limited on November 24, 2025, acquiring a relevant interest in 4,360,460 ordinary shares, representing 5.10% of the company's voting power. This disclosure highlights State Street's growing investment presence in Australian listed entities.

The relevant interests are held through various State Street entities, including State Street Global Advisors Europe Limited, State Street Bank and Trust Company, State Street Global Advisors Trust Company, SSGA Funds Management, Inc., State Street Global Advisors Limited, and State Street Global Advisors, Australia, Limited. These holdings involve both direct beneficial ownership and interests arising from securities lending arrangements.

The acquisition details show a series of transactions from July 24, 2025, to November 24, 2025, with cash considerations for shares ranging from AUD18.50 to AUD25.64. Transactions include both acquisitions and disposals of shares, indicating active portfolio management leading up to the substantial holding threshold. The nature of some relevant interests stems from securities lending, where State Street Bank and Trust Company acts as both lender and borrower, maintaining a relevant interest in the underlying securities.