SPH Notice – National Australia Bank Limited

Disclosure of ceasing to have substantial holding Section 279, Financial Markets Conduct Act 2013 To NZX and To Tower Limited Date this disclosure made: 3 January 2018 Date last disclosure made: 27 December 2017 Date on which substantial holding ceased: 28 December 2017 Substantial product holder(s) giving disclosure Full name(s): National Australia Bank Limited Summary of previous substantial holding Class of quoted voting products: Ordinary shares, fully paid Summary for National Australia Bank Limited For last 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% For current holding after ceasing to have substantial holding,-- (a) total number held in class: 12,520,366 (b) total in class: 337,324,300 (c) total percentage held in class: 3.712% Details of transactions and events giving rise to ceasing of substantial holding Details of the transactions or other events requiring disclosure: (see attached) Additional information Address(es) of substantial product holder(s): Contact details: Sarah Mohan +61 402 764 610 Sarah.Mohan@national.com.au Nature of connection between substantial product holders: (see attached) 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, 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:00312673 For:TWR Type:SHINTR Time:2018-01-04 08:30:08