Becoming a substantial holder from WAX

Form 603‌

Corporations Act 2001

Section 671B

Notice of initial substantial holder

To Company Name/Scheme RECKON LIMITED ACN/ARSN ACN 0 0 3 348 730

1. Details of substantial holder (1)

   Name Wilson Asset Management Group (refer entities listed in Annexure A)

   ACN/ARSN (if applicable)

   The holder became a substantial holder on

2. Details of 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 on the date the substantial holder became a substantial holder are as follows:

   Class of securities (4)	Number of securities	Person's votes (5)	Voting power (6)
   Ordinary Shares	5,780,986	5,780,986	5.1%

3. Details of relevant interests

   The nature of the relevant interest the substantial holder or an associate had in the following voting securities on the date the substantial holder became a substantial holder are as follows:

   Holder of relevant interest	Nature of relevant interest (7)	Class and number of securities
   Wi son Asset Management Group	Refer Annexure B	5 ,780 ,98 6 Ord Shares

4. Details of present registered holders

   The persons registered as holders of the securities referred to in paragraph 3 above are as follows:

   Holder of relevant interest	Registered holder of securities	Person entitled to be reoistered as holder (8)	Class and number of securities
   Refer Annexure B

5. Consideration

   The consideration paid for each relevant interest referred to in paragraph 3 above, and acquired in the four months prior to the day that the substantial holder became a substantial holder is as follows:

   Holder of relevant interest	Date of acquisition	Consideration (9)		Class and number of securities
   Cash	Noncash
   Wi son Asset Management Group	11 August 2016	$1. 50 per share	n/a	5 ,780 ,98 6 Ord Shares

6. Associates

   The reasons the persons named in paragraph 3 above are associates of the substantial holder are as follows:

   Name and ACN/ARSN (if applicable)	Nature of association
   Not applicable

7. Addresses

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

Refer Annexure B

Signature

print name capacity Chief Investment Of f icer

sign here date15/ 08 / 2 016

DIRECTIONS

1. If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 7 of the form.

2. See the definition of "associate" in section 9 of the Corporations Act 2001.

3. See the definition of "relevant interest" in sections 608 and 6718(7) of the Corporations Act 2001.

4. The voting shares of a company constitute one class unless divided into separate classes.

5. The total number of votes attached to all the voting shares in the company or voting interests in the scheme (if any) that the person or an associate has a relevant interest in.

6. The person's votes divided by the total votes in the body corporate or scheme multiplied by 100.

7. Include details of:

8. any relevant agreement or other circumstances by which the relevant interest was acquired. If subsection 6718(4) applies, a copy of any document setting out the tenns of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and

9. any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

   See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

10. If the substantial holder is unable to detennine the identity of the person ( eg. if the relevant interest arises because of an option) write "unknown".

11. Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, become entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.

12. This is Annexure A of 1 page referred to in Form 603 Wilson Asset Management Group 1. Details of Wilson Asset Management Group

    Wilson Asset Management (International) Pty Limited (ACN 081 047 118) MAM Pty Limited (ACN 100 276 542)

    WAM Capital Limited (ACN 086 587 395)

    Botanical Nominees Pty Limited ATF the Wilson Asset Management Equity Fund (ACN 770 126 001) WAM Research Limited (ACN 100 504 541)

    WAM Active Limited (ACN 126 420 719)

    WAM Leaders Limited (ACN 611 053 751)

    4. Addresses

    Name	Address
    Wilson Asset Management (International) Pty Limited	Level 11, 139 Macquarie Street, Sydney NSW 2000
    MAM Ply Limited	Level 11, 139 Macquarie Street, Sydney NSW 2000
    WAM Capital Limited	Level 11, 139 Macquarie Street, Sydney NSW 2000
    Botanical Nominees Pty Limited	Level 11, 139 Macquarie Street, Sydney NSW 2000
    Wilson Research Limited	Level 11, 139 Macquarie Street, Sydney NSW 2000
    WAM Active Limited	Level 11, 139 Macquarie Street, Sydney NSW 2000
    WAM Leaders Limited	Level 11, 139 Macquarie Street, Sydney NSW 2001
    RBC Investor Services	Level 17, 2 Park Street, Sydney NSW 2000

    Signed: -- J'-,-·it_ Date: 15/08/16

    This is Annexure B of 1 page referred to in Form 603 Wilson Asset Management Group

    3. Details of relevant interests and 4. Details of present registered holders

    Holder of relevant interest	Registered holder of securities	Persons entitled to be registered as holder	Nature of relevant interest	Class and number of securities	Person's votes
    Wilson Asset Management Group	RSC Investor Services	WAM Capital Limited	Management of portfollo of investments of WAM CapitalLimited	3,957,482 ordinary shares	3,957,482
    Wilson Asset Management Group	RSC Investor Services	WAM Research Limited	Management of portfolio of investments of WAM Research Limited	1,651,214 ordinary shares	1,651,214
    Wilson Asset Management Group	RSC Investor Services	Botanical Nominees Pty limited ATF Wilson Asset Management Equity Fund	Management of portfolio of investments of Botanical Nominees Ply Limited as trustee of the Wi!son Asset Management Equity Fund	172,290 ordinary shares	172,290

    7. Addresses

    Name

    Wilson Asset Management (International) Pty Limited MAM Pty Limited

    WAM Capital limited

    Botanical Nominees Pty Limited WAM Research Limited

    WAM Active Limited WAM Leaders Limited RBC Investor Services

    Address

    Level 11, 139 Macquarie Street, Sydney NSW 2000

    Level 11, 139 Macquarie Street, Sydney NSW 2000

    Level 11, 139 Macquarie Street, Sydney NSW 2000

    Level 11, 139 Macquarie Street, Sydney NSW 2000

    Level 11, 139 Macquarie Street, Sydney NSW 2000

    Leve! 11, 139 Macquarie Street. Sydney NSW 2000

    Level 11, 139 Macquarie Street, Sydney NSW 2001

    Level 17, 2 Park Street, S ney NSW 2000

    Date: 15/08/16