Citigroup Ceases to Be Substantial Holder in Beach Energy on 9 November 2026

Aditi Sarkar

11 November 2026 05:22 PM AEDT

Citigroup Ceases to Be Substantial Holder in Beach Energy on 9 November 2026

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Beach Energy Ltd (ASX:BPT) has received a Form 605 notice disclosing that Citigroup Global Markets Australia Pty Limited and related bodies corporate in the Citi group of companies worldwide ceased to be a substantial holder in Beach Energy on 9 November 2026.

Key Points

Citigroup Global Markets Australia Pty Limited ceased being a substantial holder in Beach Energy on 9 November 2026.
The previous substantial holding notice had also been given to the company on 9 November 2026.
Citigroup Global Markets Limited recorded a decreased relevant interest of 25,864,639 ordinary fully paid shares under a securities lending agreement.
Citigroup Global Markets Australia Pty Limited recorded a decreased relevant interest of 61,495 ordinary fully paid shares via contracts entered in the ordinary course of business on a stock exchange.
Citibank, N.A. Sydney Branch recorded an increased relevant interest of 163,040 ordinary fully paid shares, acting as Agent Lender under a securities lending agreement.

Cessation of Substantial Holding in Beach Energy

According to the filing, Citigroup Global Markets Australia Pty Limited, together with related bodies corporate in the Citi group of companies worldwide, ceased to be a substantial holder in Beach Energy Ltd on 9 November 2026. The notice, dated 11 November 2026 and signed by Ji Hyun Kim on behalf of Citigroup Global Markets Australia Pty Limited, was lodged as a Form 605 under Section 671B of the Corporations Act. The filing notes that the previous substantial holding notice had been given to the company on 9 November 2026.

Changes in Relevant Interests Across Citi Entities

The filing details changes in relevant interests across three Citi entities, all occurring on 9 November 2026. Citigroup Global Markets Limited recorded a decreased relevant interest of 25,864,639 ordinary fully paid shares pursuant to obligations to return securities under a securities lending agreement. Citigroup Global Markets Australia Pty Limited recorded a decreased relevant interest of 61,495 ordinary fully paid shares through contracts entered into in the ordinary course of business on a stock exchange under standard terms and conditions. Citibank, N.A. Sydney Branch recorded an increased relevant interest of 163,040 ordinary fully paid shares, acting as Agent Lender under a securities lending agreement.

Securities Lending Agreement Terms Disclosed

Annexure A to the filing sets out details of the securities lending arrangements. The agreements referenced include AMSLA, GMSLA, and MSLA-type agreements, as well as a Securities Lending Agency Agreement. Under the lending arrangements, the holder of voting rights is the borrower, and there are no restrictions on voting rights. The scheduled return date is listed as unknown, with both the borrower and lender holding early return and early recall rights under standard agreement terms. The filing states that Citi will provide copies of the relevant agreements to the company or ASIC upon request.

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