Call Option Notice

03 Mar 2025 07:32 CET

We refer to the bond terms dated 17 December 2021 for the above-mentioned bond
issue made between Nordic Trustee AS as Bond Trustee on behalf of the
Bondholders, and the undersigned as Issuer (the "Bond Terms").
Capitalised terms used herein shall have the same meaning as in the Bond Terms.
We hereby give you notice (the "Redemption Notice") that we wish to exercise the
Call Option and redeem all Outstanding Bonds at a price equal to 105.00 per
cent. of the Nominal Amount plus accrued and unpaid interests on the redeemed
amount pursuant to paragraph (a) (ii) of Clause 10.2 (Voluntary early redemption
- Call Option) of the Bond Terms.
The settlement date will be on the date falling ten (10) Business Days after the
date of this Redemption Notice, being 17 March 2025 (the "Call Option Redemption
Date"). The record date for the call option will be 13 March 2025.
In accordance with paragraph (d) of Clause 10.2 (Voluntary early redemption –
Call Option), the exercise of the Call Option shall be conditional upon the
conditions precedent for the disbursement of funds from the escrow account under
the new "Pembroke Olive Downs Pty Ltd USD 550,000,000 Senior Secured Callable
Bond Issue 2025/2030" with ISIN NO0013464792 being satisfied (or waived).
The Issuer will notify the Bond Trustee (on behalf of the Bondholders) and the
Paying Agent upon satisfaction or waiver of the condition precedent for the
exercise of the Call Option through publication of a press release.
This Redemption Notice shall be null and void if the conditions set out herein
have not been satisfied three (3) Business Days prior to the Call Option
Redemption Date.
This Redemption Notice is given to you as Bond Trustee on behalf of yourself and
the Bondholders.

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640209_Call Option Notice Executed 030325.pdf