SPH Notice – Hugh Green Investments Limited

Disclosure of change in nature of relevant interest, or both Sections 277 and 278, Financial Markets Conduct Act 2013 To NZX Limited and To Turners Automotive Group Limited ("Turners") Relevant event being disclosed: Change in nature of relevant interest Date of relevant event: 30 June 2017 Date this disclosure made: 30 June 2017 Date last disclosure made: 30 October 2014 Substantial product holder(s) giving disclosure Full name(s): Hugh Green Investments Limited ("HGIL") Summary of substantial holding Class of quoted voting products: Ordinary shares (NZX Code: TRA) Summary for Hugh Green Investments Limited For this disclosure,-- (a) total number held in class: 14,157,340 (b) total in class: 74,523,527 (c) total percentage held in class: 18.997% For last disclosure,-- (a) total number held in class: 141,573,401 (b) total in class: 616,463,185 (c) total percentage held in class: 22.965% Details of transactions and events giving rise to relevant event Details of the transactions or other events requiring disclosure: On 30 June 2017, HGIL sold all 14,157,340 of its shares in Turners through an on market trade for $3.35 per share (with the aggregate consideration being $47,427,089), with settlement to occur on 4 July 2017. As a consequence, HGIL has ceased to have the power to dispose of, or to control the disposition of, such shares. Details after relevant event Details for HGIL Nature of relevant interest(s): Registered holder. For that relevant interest,-- (a) number held in class: 14,157,340 (b) percentage held in class: 18.997% (c) current registered holder(s): HGIL (d) registered holder(s) once transfers are registered: Unknown Additional information Address(es) of substantial product holder(s): Level 2, Raphoe House, 8 Gloucester Park Road, Onehunga, Auckland 1061, New Zealand Contact details: Jane Porter, 09 622 3800, jane@hgg.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: Not applicable Certification I, Jane Porter, 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:00303425 For:TRA Type:SHINTR Time:2017-06-30 12:20:33