Allotment of shares under Share Purchase Plan

NZX Release Allotment of shares under Share Purchase Plan 15 March 2017 Heartland Bank Limited (Heartland) (NZX: HBL) has today allotted a total of 13,700,681 shares under its $20,000,000 Share Purchase Plan (SPP). A copy of the Notification of Allotment of Securities for the purposes of Listing Rule 7.12.1 is attached. Due to a number of applications being non-compliant, the final amount received under the SPP was $61,952,500 (rather than $62,117,500 as stated in Heartland's NZX release on 13 March 2017), and the scaling has been adjusted accordingly. This means that a shareholder who applied for $15,000 of shares will receive $4,842.82 of shares after scaling, which is equal to 3,317 shares at the issue price, and a refund of $10,157.18. Refunds will be paid to shareholders by either direct credit or by cheque within 5 business days. - Ends - For further information please contact: Michael Drumm General Counsel Heartland Bank Limited DDI 09 927 9287 End CA:00298310 For:HBL Type:ALLOT Time:2017-03-15 15:38:42