Notice of Dominant Ownership and Acquisition Notice

6 December 2017 To: The Directors Bethunes Investments Limited c/- BDO Wellington Limited Level 1, Chartered Accountants House 50 Customhouse Quay Wellington Copy: Takeovers Panel Level 3, Solnet House 70 The Terrace Wellington takeovers.panel@takeovers.govt.nz NZX Limited Level 1, NZX Centre 11 Cable Street Wellington announce@nzx.com NOTICE OF DOMINANT OWNERSHIP AND DISPATCH OF ACQUISITION NOTICE On 6 December 2017 Bethunes Investments Limited (to be renamed TIL Logistics Group Limited) ("Company") completed its acquisition of the transport and logistics business and assets of Transport Investments Limited (to be renamed Bowker Holdings 99 Limited) ("TIL") and the shares in TIL Logistics Group Limited (to be renamed Global Logistics Group Limited) ("Acquisition"). TIL and the other persons named in the Schedule to this notice (together the "Dominant Owner") give notice pursuant to Rule 51 of the Takeovers Code that, on 6 December 2017, as a result of completion of the Acquisition and the allotment of shares in the Company pursuant to a private placement undertaken by the Company in connection with the Acquisition, they became, in aggregate, the holders or controllers of more than 90% of the voting rights in the Company and, accordingly, the dominant owner of the Company. The Dominant Owner has today sent to 'outstanding security holders' (as defined in Rule 50 of the Takeovers Code) notice in writing that complies with Rule 55 of the Takeovers Code. A copy of that notice is enclosed. Signed for and on behalf of the Dominant Owner by: James Ramsay Director Transport Investments Limited End CA:00311506 For:BIL Type:TRANSACT Time:2017-12-06 17:18:20