SPH Notice – Allan Gray Australia Pty Ltd

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 To New Zealand Stock Exchange and To Chorus Limited Relevant event being disclosed: Increase in substantial holdings by more than 1% Date of relevant event: 27 November 2017 Date this disclosure made: 28 November 2017 Date last disclosure made: 8 September 2017 Substantial product holder(s) giving disclosure Full name(s): Allan Gray Australia Pty Ltd (Allan Gray Australia) and its related bodies corporate as set out in Table 1 of Annexure A (together Allan Gray Group), as investment manager for the funds or investment mandates listed at Table 2 of Annexure A. Summary of substantial holding Class of quoted voting products: Ordinary Shares Summary for Allan Gray Group For this disclosure,-- (a) total number held in class: 36,839,475 (b) total in class: 424,694,208 (c) total percentage held in class: 8.674% For last disclosure,-- (a) total number held in class: 31, 493, 038 (b) total in class: 411,001,665 (c) total percentage held in class: 7.663% Details of transactions and events giving rise to relevant event Details of the transactions or other events requiring disclosure: See Annexure B - Trades on market unless otherwise specified Details after relevant event Details for Allan Gray Australia Pty Ltd (Allan Gray Australia) and its related bodies corporate as set out in Table 1 of Annexure A (together Allan Gray Group), as investment manager for the funds or investment mandates listed at Table 2 of Annexure A. Nature of relevant interest(s): As investment manager for the funds or investment mandates listed at Table 2 of Annexure A that hold Chorus Limited shares as set out in Annexure B For that relevant interest,-- (a) number held in class: 36,839,475 (b) percentage held in class: 8.674% (c) current registered holder(s): See Annexure B (d) registered holder(s) once transfers are registered: See Annexure B Additional information Address(es) of substantial product holder(s): C/- Allan Gray Australia, Level 2 Challis House, 4 Martin Place Sydney, NSW 2000, Australia Contact details: Eugene Tan, Company Secretary, telephone: +61 2 8224 8627, email: eugene.tan@orbis.com Nature of connection between substantial product holders: Related bodies corporate, as set out in Table 1 of Annexure A 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, Eugene Tan, Company Secretary, Allan Gray Australia 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:00311129 For:CNU Type:SHINTR Time:2017-11-29 08:47:53