SPH Notice – Kern Group (Logistics) Pty Ltd & Gregory Kern

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 NZX Limited and To TIL Logistics Group Limited (NZX: TLL) Relevant event being disclosed: Movement of 1% or more in substantial holding Date of relevant event: 17 April 2018 Date this disclosure made: 17 April 2018 Date last disclosure made: 6 December 2017 Substantial product holder(s) giving disclosure Full name(s): Kern Group (Logistics) Pty Ltd and Gregory James Kern Summary of substantial holding Class of quoted voting products: Ordinary shares Summary for Kern Group (Logistics) Pty Ltd and Gregory James Kern For this disclosure,-- (a) total number held in class: 5,607,153 (b) total in class: 81,459,483 (c) total percentage held in class: 6.883% For last disclosure,-- (a) total number held in class: 6,473,820 (b) total in class: 79,119,480 (c) total percentage held in class: 8.182% Details of transactions and events giving rise to relevant event Details of the transactions or other events requiring disclosure: On 17 April 2018 Kern Group (Logistics) Pty Ltd sold by way of off-market trades, in aggregate, 866,667 ordinary shares in TIL Logistics Group Limited for consideration of $1.50 per ordinary share. These sales will complete on 19 April 2018 (in respect of 766,667 ordinary shares) and 20 April 2018 (in respect of 100,000 ordinary shares). Following completion of these sales, Kern Group (Logistics) Pty Ltd will be the registered holder and beneficial owner of 5,273,819 ordinary shares in TIL Logistics Group Limited. Details after relevant event Details for Kern Group (Logistics) Pty Ltd Nature of relevant interest(s): Registered holder and beneficial owner of ordinary shares in TIL Logistics Group Limited. For that relevant interest,-- (a) number held in class: 5,273,819 (b) percentage held in class: 6.474% (c) current registered holder(s): No change (d) registered holder(s) once transfers are registered: (a) Kern Group (Logistics) Pty Ltd (5,273,819 ordinary shares); (b) Alan Pearson (166,667 ordinary shares); and (c) Unknown (700,000 ordinary shares in aggregate) Details for Kern Group (Logistics) Pty Ltd Nature of relevant interest(s): More than half of Kern Group (Logistics) Pty Ltd's voting products are held by bodies corporate that are related to Kern Group Pty Ltd resulting in Kern Group (Logistics) Pty Ltd having a relevant interest in the financial products of TIL Logistics Group Limited held by Kern Group Pty Ltd. For that relevant interest,-- (a) number held in class: 333,334 (b) percentage held in class: 0.409% (c) current registered holder(s): No change (d) registered holder(s) once transfers are registered: No change Details for Gregory James Kern Nature of relevant interest(s): Director of Kern Group (Logistics) Pty Ltd and Kern Group Pty Ltd and has the power to control the disposal of, and the exercise of rights to vote attaching to, shares held by those entities, resulting in Gregory James Kern having a relevant interest in the financial products of TIL Logistics Group Limited held by those entities. For that relevant interest,-- (a) number held in class: 5,607,153 (b) percentage held in class: 6.883% (c) current registered holder(s): No change (d) registered holder(s) once transfers are registered: (a) Kern Group (Logistics) Pty Ltd (5,273,819 ordinary shares); (b) Kern Group Pty Ltd (333,334 ordinary shares); (c) Alan Pearson (166,667 ordinary shares); and (d) Unknown (700,000 ordinary shares in aggregate) Additional information Address(es) of substantial product holder(s): GPO Box 564, Brisbane, Queensland, Australia 4001 Contact details: Russell Daly,+61 7 3270 8000, DalyR@kerngroup.com.au Nature of connection between substantial product holders: Gregory James Kern is a director of Kern Group (Logistics) Pty Ltd and has the power to control the disposal of, and the exercise of rights to vote attaching to, shares held by Kern Group (Logistics) Pty Ltd. 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: Alan Pearson Disclosure has effect for purposes of directors' and senior managers' disclosure Gregory James Kern is also a director of TIL Logistics Group Limited. This disclosure also constitutes disclosure for the purposes of the directors' and senior managers' disclosure obligations. Certification I, Gregory James Kern, 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:00316868 For:TLL Type:SHINTR Time:2018-04-18 08:30:07