Moe,
The minimum weght for that race was 10-3 – i.e no horse could be allocated less than 10-3 regardless of its handicap rating. It’s what we know over here as a Limited Handicap, with a smaller range between top weight and bottom weight than in the majority of handicaps.
He was actually 4lbs out of the handicap, as his current rating is 125, but he was running here off 129 – i.e 129 = 10-3.
Then you take off the 7lbs for the conditional jockey to put him on 9-10.