SPH Notice – Milford Funds Limited

Disclosure of beginning to have substantial holding Section 276, 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 Argosy Property Limited Date this disclosure made: 19/04/18 Date on which substantial holding began:18/04/18 Substantial product holder(s) giving disclosure Full name(s): Milford Funds Limited Summary of substantial holding Class of quoted voting products: Ordinary Shares Summary for Milford Funds Limited For this disclosure,-- (a) total number held in class: 41,366,866 (b) total in class: 827,030,390 (c) total percentage held in class: 5.002% Details of relevant interests Details for Milford Funds Limited Milford Active Growth Wholesale Fund (1.354%), (Custodian - NNL Custodians) Milford NZ Equities Wholesale Fund (0.151%), (Custodian - NNL Custodians) Milford Income Wholesale Fund (3.497%), (Custodian - NNL Custodians) Details of transactions and events giving rise to substantial holding Details of the transactions or other events requiring disclosure: On market purchases of 1,700,478 ordinary shares, for total consideration of $1,712,730. Additional information Address(es) of substantial product holder(s): Milford Asset Management Limited, Level 17, 41 Shortland Street, Auckland 1140, New Zealand. Contact details: Sean McKeown, 921 4770, trades@milfordasset.com Certification I, Sean McKeown, 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:00316962 For:ARG Type:SHINTR Time:2018-04-19 12:56:42