First Sentier group becomes substantial shareholder in BlueScope Steel

First Sentier Group and its related entities became a substantial holder in BlueScope Steel Ltd (ASX:BSL) on November 25, 2025, acquiring a 5.01% voting power. This stake represents 21,955,472 fully paid ordinary shares. The group's relevant interest is primarily derived from its capacity as an investment manager, controlling the exercise of voting rights and the power to dispose of securities.

The declared holding includes 3,626,667 shares directly held by First Sentier Group Limited and its subsidiaries, with an additional 18,328,805 shares attributed to Mitsubishi UFJ Financial Group, Inc., the ultimate parent of First Sentier Group Limited. MUFG owns 100% of First Sentier Group Limited and has informed the group of its relevant interest in these shares.

The consideration for these acquisitions involved cash transactions, with a series of purchases of fully paid ordinary shares by First Sentier Investors RQI Pty Ltd and First Sentier Investors (Australia) IM Ltd occurring between July 28, 2025, and November 24, 2025. These transactions ranged from AUD22,177.21 for 969 shares to AUD2,534,147.55 for 105,195 shares.