A€=81=WHII#i/ Houae Waisdked NE +61 2 9777 7000 … HARTNELL LAWYERS - CORPORATID, FINANCE & TAXATION C,Urndin.MIC 6458 P.#sreapon/NE JohnAlm.Wb Waisdked NE +61 2 9777 7000 21

ATANASKOVIC HARTNELLLAWYERS - CORPORATID, FINANCE & TAXATION

C,Urndin.MIC 6458P.#s reapon/NE John Alm.*W*bWais dked NE +61 2 9777 7000

21 October 2015

The ManagerCompany AtIN " "..,1 -,1,-

Austra Securities Exchange Limitd20 Bridge StreetSYDNEY NSW 2000

Dear SiMad=

Notix:, of InttL,1 S -, i , 2, Holder Form 603)

A =81=W HII#i/ Houae76·86 ER=beth Street

lu< 461 2 0777 7000Fax 4612 97778777

Wbk -Mblu

In aocordsnoo with section 6718 of the rations Ac* 2001 (Cth), wo s¢t.ch s Notice ofInitial Substantial Hokicr (Form 603) in relation to die =Iltisithiaof a rclevak irrtircst in 60ordinary shares ofNino E*rtai=Imlt Co. Ho ings Limited (ASX:NEC).

This notice is given by Mr. Bruce Gordon, Bhetu Pty Ltd, WIN Corporadon Pty Ltd and-ch ofthe other 0ntitim ?- in Am=ure A ofthe notics

Youn jithhllyATANASIOVIC HARTNELL

806361-1 DOCXUm..h....m.I.PI66** 8 d d8 L HO

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19 Oatober 2016

Apollo Managementon b,hal of the Vendom Is ad in Anne,aire A

a*/ 1101. Ao/in/on C,n//81 Robmion Floed8/gRp/"068899

Bbl.h ply. L:d.ACN 008 881 382Televk onAIMoin Sait Thorn[*3 WW 2600Alin. Board of DIreck,s

Dear Srs

sid. of Shars• h lin, Enl=t»Inmmt Co. Holdip UnliBed

Coll//I,N,""CON.BINCE

I,i*odug:lonTh doolmem 00, outml Ins on which *li Vindors Wad in An,122(ure A have ivid ithyou IM dapeel of Cme ol ths liy pid a,dily,hole held by them h Nk» Er-rtiwnm CoHoldh Un*,d AON 1= 203 8g2 N,I C npmy) (me Ball Glmr=) (t» Sail) and the :emmon *dchme Ve,wom Ni-v. you the SI 81=* Each VI,nor,0198 loMpoi of thim,10/ of 8* Shares noW9#their PIWill In Armialle A

S.808/lilliTh, Vendon igme 10 0% #18 Sabi Sharl v you tor a pdce d $ 1 $2 pef Saie Share (S,lePtloi). By =ept* th 10 00•r ygu agree to Folia= thi Sale Sharee at the 8,9 Pr el hmworaance dih the ON„, of *18 doclmort

powl..*MnThi Veemert /Iliced by Ihia *<zin,id li fom* In SB,gapom as e-pl£i wl,Ire ApoloMII,agamen! ¢,7,1/. coMm*•00,1 0 your acclotanoe al the olhr in Um docurril,11.

8/////Ir//4 //d p//1/Il/1/The ;otal oonsid,ration torth, Sale 11 5192,112,428.78 (b,ing mi Sale Price · $1.82, mulipildby thi nis,160<of Sdi SharN -118,587,919).

sublectk) dium 7,8 and 10, you Imlat pay a non·r nc le depoER d :60,000,000(Depo,® lo ml VwdoM h thi Snount: met out In A,Ill,aarl A #101* upOn and m acon*lon of accevianoi. W. aclaloiwledge thatI have seen evidence mat you hav, sarrtlinis g our soicloil who wl hold the Depoit ard wil trar=lar thi Dipolit lo ul In memuum set out h Arnman A loion* g =copel,I d 11* doc nt

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The b,tanc, of ne Inout ov,Ir, d $142,112,428.78 (Conlpillial Pgyment) 18 ps/ble by 91*119,1*»r 2015 (Gompi*tor, DI). Th* Complilbl Papi,Int rmid be paid h aooiciacioev th thi wh traider h*ucllorm In Annilue 8.SL*ct li 00, clause =Id 01 me 8 and 10, I the Comple# Paym,nt h not paid by Sooprnon the Complah Wi tt» Depo*t le 8,1-d and Fu wl hive no *1»re* in the DepoetHmever, you wHI notbe ob edlooon*I#la- and pinlille d uny olthe $* Sharesinlam Il» =I md malmlledi ofth, Sul Nlares* COn *KI #v.lwr: 'b li thl do=ric* occur, you wl not lor ** D,podt wd the Venckxs rr- Inmeclat* rell# me Depolam you l, 11#. h addlon, if Iny cl thB Venclorm brl# any 010» Inan# ad out h, 01,Mis. 11I a mni//4.1 you v."04 1/.'Oub=Nmw/M, ber®qi"dblm"I. /.2,93*inon of #to Sate Shares Ind the V,ncloro Inl=t &11,)ed•,ly r•Amd thi D.pollto you InAl.N for any riaion any Ge..9.1.1.1 Weivy or 00* grarga m *ck 0,0:her shilara*n-trs*ve oril or tikes my dher adion the 8080: ol tia is #1 plohl lt comp orl of Re41*01,4,1 d arly 0/ 00 0h8* Shaill an 00 00,4,19#.1 D-, youI no; M req,Ildv00114- the Sale ind thi Ve,330,3 mud as goon as Ili,Qi,IM predleable emer (El thiVendof •10(110#):

(a) refund the Depo lt to you In M:

(b) suNects p ..an ' h (c), Mar ar m 'Ou /» numb 01 Sale Sh.4..Fls$50,000,000 (*vkjed by the Sale Alce (D,poll 811,=); or

(6) 11 the rellvarrt Govwnment Agiw, orcolst does nol pemlit you # ac Ire, or #ssacoon io prm,rt you from adqi*mg, d of thi Depo t Shar,I, 11.f1.0. me nlsnbu olDepo t ar,810 -ht-rN,vantGoveN.M.guoourt perm",ou bacquh·e am refund tt- blhange 01 the Dipost 10 *u.

You oor*m, ha„,vir, mat If *» Cor,lpann cu:re„t burb k piogranin» 0/ Emilitaoqu Illor= by you oryour =mxill= codd poign:gly rosuM in ne runber d *hary shir-h thi Company,ou sid yolr as,00183% oolic*Mly h* masve<IN 14.9016. *,n, you agneth* il lt *=1011, Ult divill„Ul„no, (LS. eXalll#N 14.899 ) v,I not d l»ell e 4110 pA ridl9,Fle» wder th. ciau», 8 and U you cor:10( compi,te dve b tha: remon *ne, th, Depod,¥111 not be redwid,d to you.The Sa Shams ar.# be .r orred .ynay af ..dk,ht.n,#ar h==danoe v, thiASX SE*lemi,1 OperaiN Rd-) to you (oryour nomb,Be) v#let al *t, d.ched 02 accfling12 nom Ind frge hom al - - : . on and fromthe Complialon Dam.The Vendors math fW, or p,Dall, el 11112* ct, thl lul gal and ben 80111 00ne,** 6 the Sde ShillRee arud..4 % .Ad..4.0.Wm-4 0.m# 00,1" mdp,•,mpe. m=,aibled lo r,glmiSon of,» MWI*8) In ell re*torol s,=Ehokill ol the Compuny. Inposnadar, al wel ae do anythN ellethls dogu,vt requies ihi VIWI ID do o oompleOon, the Venckn e compleCon mt=t, on *8*t Of coMS,11«10,1 d M lyment d U»Con*16§on P Intg. "m:(a) (CI*SS) /1 relevart CHESS decaus for *10 8,10 810<06 to be d,# red by the Vendo,8

l. N the SI%arm arB on m WIn aporiso,W m,0.<908*Bri a oopy of Ihe Vondots111,= Wigo,Id,la#nent8hov r, Inl hollU d the Gdo Sharl 000Venjok,I,N; M

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R. 0 th* Shares are on a CHESS subregil=, the V=,dor, MN and a copy of theVe,Fors TRIan Miz/l=m lo iM FoilogN pNUC**lt m dolvlr the WIN,reelo youland

(b) («*her doc-=.) any ck*unerrt #=t you rea,ortably r,quh to obtain good 01, 10-Sill Shams (he f¢em al ,ncun*ances) and get mem reg 81* Il Els nlne,h:lucing ddy e=amd ah/0 0,mler forms h resped d mil of thi Sale m.•s h maclui*yi,gliliabl,tom; androlaams of liy · : . ovirthi kliShaIls.

Thi obnganons /0 the Vel,60,9 and yul on corrok."In of U. Sale as set O/4 in /18 84,1.ner*...4.40 /emutb.Fdorf"d .nee, aop.*4 */-01* lanyouch0*Oon li not p,IR,mled on or Wom comp on then, n*hm*In* any Mt=d* dh"44/mt#mdheal *tak,n not# *1001*=d.Vagmndiled orpeymer* r=le mu*t bo r*i,ned to the pally 1ht dal¥,md R or paid It I,ckIdbU h Depoetwhloh mit bi )1=069* Mpeld b,r thl Vmdors lo you.

W=T=//il

Rilmioil[lois ind i=iinli,i by thi VendorsEa01 Vendorv,arral loyou thateaoll d 1,10§0#N s:all,lill* h l,ue, 8,19,IBIB and notm ,1110 m al the dEM 04 01* doolment as at the Co,m,ledon Dl ind = Il mo dall anyDeposk Shams =l Mn-r«1 10 you pll*=t ID Glli l 8:(a) (body0)each V,ndor h a body =por e vandy edet* ard duly -*Nah,d

Lmderthe Ime d il »0•of Inco,poration;03) (copial,M the Vellckxs have ld *1 oap* and polu to er,8, Ino thle dll,liert

and 19 cany outm tri= on• 01# Ims doo,91.,1 oc *imp *(c) (01,0,9,14) thi Vi,dors havotml-4 0, v,11 ligii #2 by- tme 41*, al

corpor- lam-bne.."0 .*0.* elmy lk,th' doclsnInt and bcan* out of the 11„il=tions ttlt Oils doolsne,1 coll,Inplat=;

(d) (a eemwn fl,91#,e) this docgniter# oor j#sli Ikh V,loti legal, ¥Bld wd b lgobigdon, OICI ble44 It h acco,Al/, Wm I lammi

(e) Colm..millp, · , „i ).oh vendor'me'n#W--/m. 8,Je 81 r I 00 agaht n,rrl in Annman A You *ac e, on oomp h dthe gl, Adl*,1 ind bmencial ovvn•,1/* of the 8/ S:*ves hee and d,ar of al ims, char,s,*cl,IN limieiti, c ms, eqdlles wd p,HrrOOVe li01*, suble or*10 Wbulk dthe tran-eMI) A the regleld sharlholdell d le Car, my;

M (Sal, 8hms/)lollon*!g,al#09 Vmc m, th,8,1, Shares w/rank**hal.,=pect, Wth all omer 041*Illdhig 0,*=4hl 01 0, Co,r®any, holuc*U virer Ommm 08.-1 .....um.;

(g) (compHmoelith ...doo, t oneldoo*) 018 t a on, con np dby thle doounint (biducing the Sdi) do not 0*avens any law of fule 01 3,941*ang autho* or any,ul, or rec,AIN„,8,* of th co,I,mi. 0: the Compar or-polcy of the Cor,pny, h lech cme b the u,mt Omt any 8uch law or ride *1,8 lo aVicimi; and

(h) (po„Ii lo li4 *e Vendl have meco,por* aue=dN and po#er lo NI Um SiliShill in=SI docium,Itand no p„,on has a conldhU r¥ nt,Illir coraklgerd orollw,wase. Al puchal or to be offered for purchase the Rn Sher..,

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Documents

A€=81=WHII#i/ Houae Waisdked NE +61 2 9777 7000 … HARTNELL LAWYERS - CORPORATID, FINANCE & TAXATION C,Urndin.MIC 6458 P.#sreapon/NE JohnAlm.*W*b Waisdked NE +61 2 9777 7000 21

A€=81=WHII#i/ Houae Waisdked NE +61 2 9777 7000 … HARTNELL LAWYERS - CORPORATID, FINANCE & TAXATION C,Urndin.MIC 6458 P.#sreapon/NE JohnAlm.Wb Waisdked NE +61 2 9777 7000 21