SPH Notice – Salt Funds Management Limited

Disclosure of ceasing to have substantial holding Section 279, Financial Markets Conduct Act 2013 To NZX Ltd and To Argosy Property Limited Date this disclosure made: 14 November 2017 Date last disclosure made: 26 October 2017 Date on which substantial holding ceased: 10 November 2017 Substantial product holder(s) giving disclosure Full name(s): Salt Funds Management Limited Summary of previous substantial holding Class of quoted voting products: Argosy Property Limited Ordinary Shares (ARG) Summary for Salt Funds Management Limited For last disclosure,-- (a) total number held in class: 44,453,937 (b) total in class: 826,019,598 (c) total percentage held in class: 5.382% For current holding after ceasing to have substantial holding,-- (a) total number held in class: 40,925,088 (b) total in class: 826,019,598 (c) total percentage held in class: 4.954% Details of transactions and events giving rise to ceasing of substantial holding Details of the transactions or other events requiring disclosure: On market sales of 3,528,849 shares for a consideration of $3,643,906 over the period 25th October 2017 to 10th November 2017. Additional information Address(es) of substantial product holder(s): Level 3, The Imperial Buildings 44 Queen Street Auckland 1050 Contact details: Julia Diepbrink +64 9 869 2933 Julia.diepbrink@saltfunds.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, Julia Diepbrink, 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:00310296 For:ARG Type:SHINTR Time:2017-11-14 16:10:19