CHALLENGER LIMITED - Director's Dealing 2017

Appendix 3Y Change of Director’s Interest Notice

7Rule 3.19A.2

Appendix 3Y Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity	Challenger Limited
ABN	85 106 842 371

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Leon Zwier
Date of last notice	16 November 2009

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Interest held by Biccy Boo Pty Ltd as trustee for Biccy Boo Trust
Date of change	9 March 2017
No. of securities held prior to change	2,360 shares (held by Sandhurst Trustees Limited Management> for Zwier No 2 Super Fund)
Class	Ordinary shares
Number acquired	5,000
Number disposed	N/A
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	$ 11.89 per share

See chapter 19 for defined terms.

Appendix 3Y Page 1

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

No. of securities held after change	7,360
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	On market trade

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract	N/A
Nature of interest	N/A
Name of registered holder (if issued securities)	N/A
Date of change	N/A
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed	N/A
Interest acquired	N/A
Interest disposed	N/A
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation	N/A
Interest after change	N/A

Part 3 –[+] Closed period

Part 3 –+Closed period
Were the interests in the securities or contracts detailed above traded during a+closed period where prior written clearance was required?	No
If so, was prior written clearance provided to allow the trade to proceed during this period?	N/A
If prior written clearance was provided, on what date was this provided?	N/A

See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

AI assistant

CHALLENGER LIMITED Director's Dealing 2017

64641_rns_2017-03-14_2d309421-1a37-452f-b042-58f8b1483bb9.pdf

Appendix 3Y Change of Director’s Interest Notice

Part 1 - Change of director’s relevant interests in securities

Part 2 – Change of director’s interests in contracts

Part 3 –[+] Closed period

AI assistant

CHALLENGER LIMITED — Director's Dealing 2017

64641_rns_2017-03-14_2d309421-1a37-452f-b042-58f8b1483bb9.pdf

Appendix 3Y Change of Director’s Interest Notice

Part 1 - Change of director’s relevant interests in securities

Part 2 – Change of director’s interests in contracts

Part 3 –[+] Closed period

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