SPH Notice – Bank of New Zealand

Disclosure of beginning to have substantial holding Section 276, Financial Markets Conduct Act 2013 To NZX and To Rubicon Ltd. Date this disclosure made: 8 January 2018 Date on which substantial holding began: 4 January 2018 Substantial product holder giving disclosure Full name: Bank of New Zealand Summary of substantial holding Class of quoted voting products: Ordinary shares Summary for Bank of New Zealand For this disclosure, (a) total number held in class: 25,000,000 (b) total in class: 487,908,343 (c) total percentage held in class: 5.124% Details of relevant interests Bank of New Zealand Nature of relevant interest(s): Conditional power to control the disposal of the financial product. The relevant interest arises only from the powers of investment contained in an investment management contract for Bank of New Zealand's portfolio execution service. This relevant agreement is not required to be attached under regulation 139. For that relevant interest-- (a) number held in class: 25,000,000 (b) percentage held in class: 5.124% (c) current registered holder(s): FNZ Custodians Limited (d) registered holder(s) once transfers are registered: Not applicable 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: see attached. Additional information Address of substantial product holder: Bank of New Zealand Level 4 80 Queen Street AUCKLAND NEW ZEALAND 1010 Contact details: Derek Watt Mobile: - 021 769 211 derek_j_watt@bnz.co.nz Certification I, Amber Oram, 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:00312806 For:RBC Type:SHINTR Time:2018-01-08 16:37:14