SPH Notice – National Australia Bank Limited

Disclosure of beginning to have substantial holding Section 276, Financial Markets Conduct Act 2013 To NZX and To Tower Limited Date this disclosure made: 27 December 2017 Date on which substantial holding began: 20 December 2017 Substantial product holder(s) giving disclosure Full name(s): National Australia Bank Limited Summary of substantial holding Class of quoted voting products: Ordinary shares Summary for National Australia Bank Limited For this disclosure,-- (a) total number held in class: 12,404,618 (b) total in class: 168,662,150 (c) total percentage held in class: 7.355% Details of relevant interests MLC Wealth Management Limited JBWere (NZ) Pty Limited Bank of New Zealand Limited Please see attached. For a derivative relevant interest, also-- (a) type of derivative: Not applicable (b) details of derivative: Not applicable (c) parties to the derivative: Not applicable (d) if the substantial product holder is not a party to the derivative, the nature of the relevant interest in the derivative: Not applicable Details of transactions and events giving rise to substantial holding Details of the transactions or other events requiring disclosure: Please see attached. Contact details: Sarah Mohan +61 402 764 610 Sarah.Mohan@national.com.au Nature of connection between substantial product holders: Please see attached. Certification I, Elizabeth Melville-Jones, 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:00312510 For:TWR Type:SHINTR Time:2017-12-27 16:07:26