SPH Notice – Milford Asset Management Limited

Disclosure of movement of 1% or more in substantial holding or change in nature of relevant interest, or both Sections 277 and 278, Financial Markets Conduct Act 2013 Note: This form must be completed in accordance with the instructions at the end of the form. To The New Zealand Stock Exchange and To Turners Automotive Group Ltd Relevant event being disclosed: Change in nature of relevant interest Date of relevant event: 08/03/2018 Date this disclosure made: 12/03/2018 Date last disclosure made: 21/09/2017 Substantial product holder(s) giving disclosure Full name(s): Milford Asset Management Limited Summary of substantial holding Class of quoted voting products: Ordinary Shares Summary for Milford Asset Management Limited For this disclosure,-- (a) total number held in class: 6,777,719 (b) total in class: 84,771,698 (c) total percentage held in class: 7.995% Milford Active Growth Wholesale Fund (3.606%), (Custodian - NNL Custodians), Milford NZ Equities Wholesale Fund (2.520%), (Custodian - NNL Custodians), Milford Income Wholesale Fund (1.339%), (Custodian - NNL Custodians), Milford Australian Absolute Growth Wholesale Fund (0.194%), (Custodian - NNL Custodians), Milford Australian Absolute Growth Fund (0.336%), (Custodian - NNL Custodians). For last disclosure,-- (a) total number held in class: 5,777,070 (b) total in class: 83,029,402 (c) total percentage held in class: 6.958% Milford Active Growth Wholesale Fund (3.626%), (Custodian - NNL Custodians), Milford NZ Equities Wholesale Fund (1.965%), (Custodian - NNL Custodians), Milford Income Wholesale Fund (1.367%), (Custodian - NNL Custodians). Details of transactions and events giving rise to relevant event Details of the transactions or other events requiring disclosure: Purchases of 1,000,649 ordinary shares, for total consideration of $3,135,296 made during the period 20th September 17 - 8 th March 2018. Details after relevant event Details for Milford Asset Management Ltd Nature of relevant interest(s): N/A Additional information Address(es) of substantial product holder(s): Milford Asset Management Limited, Level 17, 41 Shortland Street, Auckland 1140, New Zealand. Contact details: Kash Mehra, Products and Operations, contact: (09) 921 4770 Email ProductsCompliance@milfordasset.com Certification I, Kash Mehra, 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:00315409 For:TRA Type:SHINTR Time:2018-03-12 13:49:53