MEMO – Bethunes Investments Limited (“BIL”)

Memorandum To: Market Participants From: NZX Client and Data Services Date: Wednesday, 29 November 2017 Subject: Bethunes Investments Limited ("BIL") Message: On Friday, 17 November 2017, Bethunes Investments Limited ("BIL") announced that it would hold a Special Meeting for shareholders to consider, and if thought fit, to pass resolutions relating to the acquisition of the business of Transport Investments Limited. Subject to these resolutions being approved by shareholders: Share Consolidation BIL will consolidate its existing ordinary shares on issue on the basis that every 254.1915 shares held in BIL at 5:00pm on Tuesday, 5 December 2017 ("Record Date") will be consolidated into 1 share. Name and Ticker Code Change BIL will change its name to TIL Logistics Group Limited and its ticker code to TLL with effect from the commencement of trading on NZX on Thursday, 7 December 2017. BIL will be placed into a trading halt throughout this process from Monday, 4 December until Thursday, 7 December 2017. A timetable of events is detailed in the attached. Please contact Client and Data Services on +64 4 496 2853 or cds@nzx.com with any queries. ENDS End CA:00311149 For:BIL Type:MEMO Time:2017-11-29 16:14:43