THL – Dividend Reinvestment Plan Strike Price

12 April 2018 NZX ANNOUNCEMENT TOURISM HOLDINGS LIMITED (thl) DIVIDEND REINVESTMENT PLAN - STRIKE PRICE FOR 2018 INTERIM DIVIDEND Tourism Holdings Limited advises that the strike price for the dividend reinvestment plan (DRP) operating in respect to the dividend payable on 16 April 2018 has been set at $5.935 per share. The strike price is inclusive of a 2% discount. This strike price will apply in calculating the number of shares to be issued to participants who have elected to receive additional shares rather than cash. The strike price has been determined in accordance with the DRP as the volume weighted average sale price for a thl share based on all trades of thl shares on the NZX Main Board over the period of 5 trading days immediately following the record date of 4 April 2018, less a 2% discount. END Authorised by: Mark Davis thl Chief Financial Officer Direct Dial: +64 9 336 4212 Mobile: +64 27 444 0199 End CA:00316671 For:THL Type:OFFER Time:2018-04-12 08:55:36