Heartland Bank Limited – Placement Allotment

Heartland Bank Limited - Placement Allotment For the purposes of Listing Rule 7.12.1, Heartland Bank Limited (NZX:HBL) advises that the following shares have been issued on 15 December 2016: (a) Class of Security Ordinary shares ISIN: NZBSHE0001S0 (b) Number issued: 13,698,630 (c) Issue price: $1.46 (d) Whether payment was in cash: Yes (e) Any amount paid up: In full (f) Principal terms of the Securities: Not applicable (g) Percentage of the total Class of Securities issued: 2.822% (h) Reason for the issue: Allotment of 13,698,630 ordinary shares under a placement conducted by Heartland Bank Limited (i) Specific authority for the issue: Directors' resolutions dated 11 December 2016 (j) Terms or details of the issue: New ordinary shares which rank equally with all other fully paid ordinary shares in Heartland Bank Limited on issue (k) Total number of Securities of the Class in existence after the issue: 499,165,428 (l) Treasury Stock: N/A (m) Date of issue: 15 December 2016 Michael Drumm General Counsel Heartland Bank Limited End CA:00294347 For:HBL Type:ALLOT Time:2016-12-15 08:38:29