SPH Notice – Guardians of New Zealand Superannuation

Disclosure of movement of 1% or more in substantial holding or change in nature of relevant interest, or both Sections 277 and 278, Financial Markets Conduct Act 2013 Note: This form must be completed in accordance with the instructions at the end of the form. To NZX and To New Zealand King Salmon Investments Limited Relevant event being disclosed: Disclosure of movement of 1% or more Date of relevant event: 21 March 2017 Date this disclosure made: 23 March 2017 Date last disclosure made: 19 October 2016 Substantial product holder(s) giving disclosure Full name(s): New Zealand Superannuation Fund Nominees Limited as nominee for the New Zealand Superannuation Fund being property of Her Majesty the Queen in right of New Zealand and managed and administered by the Guardians of New Zealand Superannuation ("NZSF") Summary of substantial holding Class of quoted voting products: Ordinary Shares (ISIN: NZNZKE0003S0) Summary for: NZSF For this disclosure,-- (a) total number held in class: 10,407,438 (b) total in class: 138,157,843 (c) total percentage held in class: 7.533% For last disclosure,-- (a) total number held in class: 8,874,285 (b) total in class: 138,157,843 (c) total percentage held in class: 6.423% Details of transactions and events giving rise to relevant event Details of the transactions or other events requiring disclosure under the instructions to this form: Between 19 October 2016 and 21 March 2017, NZSF purchased an aggregate of 1,543,541 ordinary shares in New Zealand King Salmon Investments Limited on-market for aggregate consideration of $1,784,261, in its internal equities portfolio and its account managed by Mint Asset Management Limited. On 13 January 2017, NZSF sold 13,388 ordinary shares in New Zealand King Salmon Investments Limited on-market for aggregate consideration of $18,765 from its account managed by Mint Asset Management Limited. Details after relevant event Details for: NZSF Nature of relevant interest(s): Beneficial owner of shares and/or power to control the acquisition/disposal of, and voting rights attached to, shares For that relevant interest,-- (a) number held in class: 10,407,438 (b) percentage held in class: 7.533% (c) current registered holder(s): Unknown (d) registered holder(s) once transfers are registered: New Zealand Central Securities Depository Limited (for NZSF). Of these shares, 6.470% are within NZSF's internal equities portfolio and 1.063% are within NZSF's portfolio managed by Mint Asset Management Limited. For a derivative relevant interest, also-- (a) type of derivative: N/A (b) details of derivative: N/A (c) parties to the derivative: N/A (d) if the substantial product holder is not a party to the derivative, the nature of the relevant interest in the derivative: N/A Additional information Address(es) of substantial product holder(s): Level 12, Zurich House, 21 Queen Street Auckland 1010, New Zealand Contact details: Peter Bennie Ph: +64 9 300 6980 E-mail: pbennie@nzsuperfund.co.nz Name of any other person believed to have given, or believed to be required to give, a disclosure under the Financial Markets Conduct Act 2013 in relation to the financial products to which this disclosure relates: N/A Certification I, Peter Bennie, certify that, to the best of my knowledge and belief, the information contained in this disclosure is correct and that I am duly authorised to make this disclosure by all persons for whom it is made. End CA:00298769 For:NZK Type:SSH Time:2017-03-23 16:45:11