SPH Notice – BNP Paribas Nominees Ltd and Smartshares Ltd

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 Energy Mad Limited Relevant event being disclosed: Movement of 1% or more in substantial holdings Date of relevant event: 22 May 2018 Date this disclosure made: 22 May 2018 Date last disclosure made: 21 February 2017 Substantial product holder(s) giving disclosure Full name(s): BNP Paribas Nominees (NZ) Limited and Smartshares Limited Summary of substantial holding Class of quoted voting products: Ordinary shares in Energy Mad Limited (MAD) Summary for BNP Paribas Nominees (NZ) Limited and Smartshares Limited For this disclosure,-- (a) total number held in class: 133,549,530 (b) total in class: 175,836,635 (c) total percentage held in class: 75.951% For last disclosure,-- (a) total number held in class: 105,149,530 (b) total in class: 147,436,635 (c) total percentage held in class: 71.318% Details of transactions and events giving rise to relevant event Details of the transactions or other events requiring disclosure: Energy Mad Limited issued 284,000 convertible loan notes to SuperLife Limited for an issue price of $284,000 in accordance with a Convertible Loan Note Agreement dated 25 November 2014 signed by both parties. On 2 November 2016 the holding of the convertible loan notes transferred to BNP Paribas Nominees (NZ) Limited and Smartshares Limited, respectively, as custodian and manager of the SuperLife Invest scheme. For the purposes of the Convertible Loan Note Agreement, Smartshares Limited and Energy Mad Limited have agreed that the convertible notes are convertible to ordinary shares in Energy Mad at a conversion price per share of $0.01 on 22 May 2018. The issuance of ordinary shares in Energy Mad Limited on the conversion of the convertible loan notes has previously been approved by the shareholders of Energy Mad Limited. Details after relevant event Details for BNP Paribas Nominees (NZ) Limited Nature of relevant interest(s): Registered holder of financial products For that relevant interest,-- (a) number held in class: 133,549,530 (b) percentage held in class: 75.951% (c) current registered holder(s): BNP Paribas Nominees (NZ) Limited (d) registered holder(s) once transfers are registered: No change Details for Smartshares Limited Nature of relevant interest(s): Ability to control the exercise of the right to vote due to the provisions of the SuperLife Invest Trust Deed which is available on the Disclose Register. For that relevant interest,-- (a) number held in class: 133,549,530 (b) percentage held in class: 75.951% (c) current registered holder(s): BNP Paribas Nominees (NZ) Limited (d) registered holder(s) once transfers are registered: No change (d) if the substantial product holder is not a party to the derivative, the nature of the relevant interest in the derivative: N/A Additional information Address(es) of substantial product holder(s): Level 7, Zurich House, 21 Queen Street, Auckland 1011 PO Box 106 555, Auckland 1143, New Zealand Contact details: Stephen Upton, DDI: (09) 308 2688 Nature of connection between substantial product holders: BNP Paribas Nominees (NZ) Limited is the custodian of the SuperLife Invest managed investment scheme and Smartshares Limited is the manager of the SuperLife Invest managed investment scheme. 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, Stephen Upton, 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:00318298 For:MAD Type:SHINTR Time:2018-05-22 13:32:57