SPH Notice – The Business Bakery L.P.

Disclosure of ceasing to have substantial holding Section 279, Financial Markets Conduct Act 2013 To NZX Limited and To Turners Automotive Group Limited Date this disclosure made: 8 June 2018 Date last disclosure made: 3 November 2014 Date on which substantial holding ceased: 6 June 2018 Substantial product holder(s) giving disclosure Full name(s): The Business Bakery L.P. Summary of previous substantial holding Class of quoted voting products: Ordinary shares (TRA) Summary for The Business Bakery L.P. For last disclosure,-- (a) total number held in class: 84,617,226 (pre 10:1 share consolidation) (b) total in class: 616,463,185 (pre 10:1 share consolidation) (c) total percentage held in class: 13.726% For current holding after ceasing to have substantial holding,-- (a) total number held in class: 0 (b) total in class: 84,802,612 (c) total percentage held in class: 0% Details of transactions and events giving rise to ceasing of substantial holding Details of the transactions or other events requiring disclosure: In specie transfer of 8,461,723 shares held in TRA by The Business Bakery L.P. to its limited partners Additional information Address(es) of substantial product holder(s): PO Box 17408, Greenlane, Auckland 1546 Contact details: Stephen Sinclair 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: Grant Baker, Donna Baker and Lewis Grant as trustees of the Baker International Trust No 2, Harrigens Trustee Limited and Matthew Harrison Disclosure has effect for purposes of directors' and senior managers' disclosure Grant Baker, a director of the General Partner of the Business Bakery L.P., is also a director of Turners Automotive Group Limited. This disclosure also constitutes disclosure for the purposes of the directors' and senior managers' disclosure obligations. Certification I, Steven Sinclair, 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:00319102 For:TRA Type:SHINTR Time:2018-06-08 10:48:21