CHALLENGER LIMITED — Major Shareholding Notification 2014

Sydney

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Level 15, 255 Pitt Street Sydney NSW 2000 Australia GPO Box 3698 Sydney NSW 2001 www.challenger.com.au

Telephone 02 9994 7000 Facsimile 02 9994 7777

12 June 2014

The Manager Company Announcements Office ASX Limited 20 Bridge Street SYDNEY NSW 2000

By electronic lodgement

Dear Sir/Madam

Re: Notice of change of interests of substantial holder – IRESS Limited (IRE)

We enclose notice of change of interests of substantial holder in IRESS Limited. This notice is given by Challenger Limited and each of its subsidiaries named in Annexure 1 to this notice.

Yours faithfully

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Andrew Brown Company Secretary

attach

Melbourne Level 19, 31 Queen Street PO Box 297, Flinders Lane, Melbourne VIC 3000 Telephone 02 9994 7000 Facsimile 02 9994 7777 Brisbane Level 9, 241 Adelaide Street GPO Box 3234, Brisbane QLD 4001 Telephone 07 3136 5400 Facsimile 07 3136 5407 Perth Level 5, 50 Georges Terrace, Perth WA 6000 Telephone 08 9261 7412 Facsimile 08 9321 5277 Adelaide Level 7, Suite 714, 147 Pirie Street Adelaide SA 5000 Telephone 08 7071 7042 Facsimile 08 8227 0395

Challenger Limited ABN 85 106 842 371 Challenger Group Services Pty Limited ABN 91 085 657 307 Challenger Life Company Limited ABN 44 072 486 938 AFSL 234670 Howard Commercial Lending Limited ABN 65 000 033 143 Challenger Listed Investments Limited ABN 94 055 293 644 AFSL 236 887 Challenger Diversified Property Trust 1 ARSN 121 484 606 Challenger Diversified Property Trust 2 ARSN 121 484 713 Challenger Management Services Limited ABN 29 092 382 842 AFSL 234 678 Challenger Retirement and Investment Services Limited ABN 80 115 534 453 AFSL295642 RSE Licence No. L0001304 Challenger Mortgage Management Pty Ltd ABN 72 087 271 109 Challenger Securitisation Management Pty Ltd ABN 56 100 346 898 AFSL 244593

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604 page 1/2 15 July 2001

Form 604

Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To Company name/Scheme IRESS Limited

ACN/ARSN 060 313 359

1. Details of substantial holder (1)

Name Challenger Limited (and the entities listed in Annexure 1)

ACN/ARSN (if applicable) 106 842 371

There was a change in the interests of the substantial holder on The previous notice was given to the company on The previous notice was dated

10.06.2014 15.05.2014 15.05.2014

2. Previous and present voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

5. Changes in association

The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name and ACN/ARSN (if applicable) Nature of association N/A N/A

The addresses of persons named in this form are as follows:

6. Addresses

ASX\20140612 IRE ASIC Form 604

604 page 2/2 15 July 2001

Name Address Challenger Limited Level 15, 255 Pitt Street, Sydney NSW 2000 And each other entity named in Annexure 1

 Signature

print name Andrew Brown capacity Company Secretary

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date 12/06/2014

ASX\20140612 IRE ASIC Form 604

Annexure 1

This is page 1 of 4 of Annexure 1 referred to in ASIC Form 604 - Notice of Change of Interest of Substantial Holder

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Andrew Brown - Company Secretary of Challenger Limited 12/06/2014

Annexure 1

This is page 2 of 4 of Annexure 1 referred to in ASIC Form 604 - Notice of Change of Interest of Substantial Holder

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Andrew Brown - Company Secretary of Challenger Limited 12/06/2014

Annexure 1

This is page 3 of 4 of Annexure 1 referred to in ASIC Form 604 - Notice of Change of Interest of Substantial Holder

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Andrew Brown - Company Secretary of Challenger Limited

12/06/2014

Annexure 1

This is page 4 of 4 of Annexure 1 referred to in ASIC Form 604 - Notice of Change of Interest of Substantial Holder

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Andrew Brown - Company Secretary of Challenger Limited 12/06/2014

12/06/2014

Annexure 2

This is page 1 of 3 pages of Annexure 2 referred to in Form 604 signed by me and dated

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Andrew Brown

Transactions:

IRESS Limited (IRE) As at 10/06/2014 Ordinary Fully Paid

1,596,830