SPH Notice – Salt Funds Management Limited

Disclosure of ceasing to have substantial holding Section 279, Financial Markets Conduct Act 2013 To NZX Ltd and To Scales Corporation Limited Date this disclosure made: 10 May 2018 Date last disclosure made: 15 February 2018 Date on which substantial holding ceased: 8 May 2018 Substantial product holder(s) giving disclosure Full name(s): Salt Funds Management Limited Summary of previous substantial holding Class of quoted voting products: Scales Corporation Limited Ordinary Shares (SCL) Summary for Salt Funds Management Limited For last disclosure,-- (a) total number held in class: 7,037,993 (b) total in class: 140,510,292 (c) total percentage held in class: 5.009% For current holding after ceasing to have substantial holding,-- (a) total number held in class: 6,957,212 (b) total in class: 140,896,574 (c) total percentage held in class: 4.938% Details of transactions and events giving rise to ceasing of substantial holding Details of the transactions or other events requiring disclosure: On market purchases of 555,826 shares for a consideration of $2,493,049 over the period 14th February 2018 to 24th April 2018. In-specie transfer of 75,895 shares for a consideration of $342,286 on 1 May 2018 On market sales of 712,502 shares for a consideration of $3,269,136 over the period 7th March 2018 to 8th May 2018. Additional information Address(es) of substantial product holder(s): Level 3, The Imperial Buildings 44 Queen Street Auckland 1050 Contact details: Anthony Sowerby +64 9 967 7276 anthony.sowerby@saltfunds.co.nz 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: N/A Certification I, Julia Diepbrink, 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:00317805 For:SCL Type:SHINTR Time:2018-05-10 16:38:36