First Sentier group becomes substantial shareholder in Bega Cheese

First Sentier Group Limited and its related bodies corporate or associates became a substantial holder in Bega Cheese Ltd on December 9, 2025, acquiring a total voting power of 5.01%. This translates to a relevant interest in 15,305,843 fully paid ordinary shares.

The relevant interest is split between First Sentier Investors RQI Pty Ltd (3,870,121 shares) and First Sentier Investors (Australia) IM Ltd (11,499,760 shares), both of which manage investments and control voting and disposal rights under their mandates. Additionally, Mitsubishi UFJ Financial Group, Inc., as the ultimate parent of First Sentier Group Limited, has a relevant interest in 481,071 shares.

Key transactions contributing to this substantial holding occurred throughout August, September, October, and December 2025. Noteworthy acquisitions include First Sentier Investors (Australia) IM Ltd purchasing 231,103 shares for A$1,297,560.81 on August 21, 2025, and acquiring 205,789 shares for A$1,112,253.53 on October 27, 2025. First Sentier Investors RQI Pty Ltd also made significant purchases, such as 77,922 shares for A$465,373.56 on December 8, 2025.