Financial Sector (Shareholdings) (Challenger Limited) Instrument 2023 I, Jim Chalmers, Treasurer, make the following instrument. Dated 5 April 2023 Dr Jim Chalmers Treasurer Contents Part 1—Preliminary 1 Name 2 Commencement 3 Authority 4 Definitions Part 2—Approvals to exceed 20% shareholding limit 6 Approvals of applications Part 1—Preliminary 1 Name This instrument is the Financial Sector (Shareholdings) (Challenger Limited) Instrument 2023. 2 Commencement (1) Each provision of instrument specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms. Commencement information Column 1 Column 2 Column 3 Provisions Commencement Date/Details 1. The whole of this instrument The day after this instrument is registered. Note: This table relates only to the provisions of this instrument as originally made. It will not be amended to deal with any later amendments of this instrument. (2) Any information in column 3 of the table is not part of this instrument. Information may be inserted in this column, or information in it may be edited, in any published version of this instrument. 3 Authority This instrument is made under the Financial Sector (Shareholdings) Act 1998. 4 Definitions Note: Paragraph 13(1)(b) of the Legislation Act 2003 has the effect that expressions have the same meaning in this instrument as in the Financial Sector (Shareholdings) Act 1998 as in force from time to time. In this instrument: ABN has the meaning given by the A New Tax System (Australian Business Number) Act 1999. ADI (authorised deposit‑taking institution) means a body corporate that is an ADI for the purposes of the Banking Act 1959. the Act means the Financial Sector (Shareholdings) Act 1998. Part 2—Approvals to exceed 20% shareholding limit 6 Approvals of applications (1) Under paragraph 14(1)(a) of the Act, each applicant covered by subsection (2) is granted approval: (a) to hold more than a 20% stake in a financial sector company covered by subsection (3); and (b) to hold no more of the stake specified in the financial sector company as is specified in subsection (3). (2) For the purposes of subsection (1), an applicant is covered by this subsection if the applicant is listed in an item of the following table: Item Name of applicant ABN of applicant (if any) 1 A.P. Liberty G.P. LLC as General Partner for the Limited Partners of A.P. Liberty L.P. 2 APO (FC), LLC 3 APO Corp 4 Apollo Asset Management, Inc 5 Apollo Global Management, Inc. 6 Apollo Management Holdings G.P., LLC 7 Apollo Management Holdings L.P. 8 Apollo Principal Holdings VII G.P., Ltd as General Partner for the Limited Partners of Apollo Principal Holdings VII L.P. 9 Athene Annuity Re Ltd 10 Athene Holding Ltd 11 Athene Life Re Ltd. 12 Athene USA Corporation 13 Marc Alan Beilinson 14 James Richard Belardi 15 Jessica Bibliowicz 16 Debra Black, as Trustee of each of ASB 2011 Trust, BEB 2011 Trust, JMB 2011 Trust and VRB 2011 Trust 17 Leon Black 18 BRH Holdings G.P. Ltd. 19 Walter Joseph Clayton III 20 Barry Cohen, as Trustee of Heritage Trust and Manager of LDB 2014 LLC 21 Michael Ducey 22 Richard Emerson 23 John Hannan, as Trustee of Heritage Trust and each of ASB 2011 Trust, BEB 2011 Trust, JMB 2011 Trust and VRB 2011 Trust 24 Joshua Harris 25 Kerry Murphy Healey 26 Mitra Hormozi 27 Pamela Joyner 28 Scott Kleinman 29 Alvin Bernard Krongard 30 LDB 2014 LLC 31 Richard Ressler, as Trustee of Heritage Trust 32 Pauline Richards 33 Marc Rowan 34 David Simon 35 Lynn Swann 36 James Zelter (3) For the purposes of subsection (1), a financial sector company is covered by this subsection if the company is listed in an item of the following table: Item Financial sector company ABN of financial sector company Approved holding in the financial sector company 1 Challenger Bank Limited 54 087 651 750 25% 2 Challenger Limited 85 106 842 371 25% 3 Challenger Life Company Limited 44 072 486 938 25% 4 Challenger Holdco2 Holdings Pty Ltd 78 646 761 275 25% 5 Challenger Group Holdings Limited 50 002 993 302 25% (4) To avoid doubt, subsection (1) does not have the effect of granting an applicant approval to hold any stake in itself. (5) The approvals granted under subsection (1) remain in force until repealed or otherwise revoked.