SPH Notice – Milford Asset Management

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 The New Zealand Stock Exchange and To Tourism Holdings Limited Relevant event being disclosed: Change in nature of relevant interest Date of relevant event: 27/10/17 Date this disclosure made:31/10/17 Date last disclosure made: 02/10/17 Substantial product holder(s) giving disclosure Full name(s): Milford Asset Management Summary of substantial holding Class of quoted voting products: Ordinary Shares Summary for Milford Asset Management For this disclosure,-- (a) total number held in class: 6,611,456 (b) total in class: 121,001,202 (c) total percentage held in class: 5.464% (note, relevant interests held by the manager as follows): Milford Active Growth Wholesale Fund (3.414%), (Custodian - NNL Custodians), Milford NZ Equities Wholesale Fund (1.375%), (Custodian - NNL Custodians), Milford Income Wholesale Fund (0.675%), (Custodian - NNL Custodians). For last disclosure,-- (a) total number held in class: 7,832,192 (b) total in class: 120,254,253 (c) total percentage held in class: 6.513% (note, relevant interests held by the manager as follows): Milford Active Growth Wholesale Fund (4.416%), (Custodian - NNL Custodians), Milford NZ Equities Wholesale Fund (1.434%), (Custodian - NNL Custodians), Milford Income Wholesale Fund (0.664%), (Custodian - NNL Custodians). Details of transactions and events giving rise to relevant event Details of the transactions or other events requiring disclosure: Transactions made during the period 02 October 2017 - 27 October 2017. Sales of 1,650,000 ordinary shares, for total consideration of $8,002,500. Purchases of 429,264, for total consideration of $2,031,541.12. Details after relevant event Details for Milford Asset Management Limited Nature of relevant interest(s): N/A Additional information Address(es) of substantial product holder(s): Milford Asset Management Limited, Level 17, 41 Shortland Street, Auckland 1140, New Zealand. Contact details: Sean McKeown, Products and Operations, contact: (09) 921 4770 E-mail: ProductsCompliance@milfordasset.com Certification I, Sean McKeown, 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:00309497 For:THL Type:SHINTR Time:2017-10-31 10:19:00