SPH Notice – The Business Bakery L.P. and Moa Investments

Disclosure of ceasing to have substantial holding Section 279, Financial Markets Conduct Act 2013 To NZX Listing and To Moa Group Limited Date this disclosure made: 8 June 2018 Date last disclosure made: 31 October 2016 Date on which substantial holding ceased: 7 June 2018 Substantial product holder(s) giving disclosure Full name(s): The Business Bakery L.P. and Moa Investments (2014) Limited Summary of previous substantial holding Class of quoted voting products: Ordinary shares (MOA) Summary for The Business Bakery LP For last disclosure,-- (a) total number held in class: 11,423,566 (b) total in class: 53,573,709 (c) total percentage held in class: 21.323% (Note: the last disclosure also included the Business Bakery LP's deemed relevant interest in shares then held by Moa Investments (2014) Limited) For current holding after ceasing to have substantial holding,-- (a) total number held in class: 0 (b) total in class: 54,634,777 (c) total percentage held in class: 0% Summary for Moa Investments (2014) Limited For last disclosure,-- (a) total number held in class: 3,979,948 (b) total in class: 53,573,709 (c) total percentage held in class: 7.429% For current holding after ceasing to have substantial holding,-- (a) total number held in class: 1,067,636 (b) total in class: 54,634,777 (c) total percentage held in class: 1.965% (Note: The Business Bakery LP no longer holds a relevant interest in shares held by Moa Investments (2014) Limited) 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 7,393,618 shares held by The Business Bakery LP to its limited partners. Repayment of $37,500 of advances to The Business Bakery LP by transfer of 50,000 shares to the trustees of the Ross Ventures Trust. Repayment of advances of $1,514,402 to Moa Investments (2014) Limited by transfer of 2,912,312 Moa shares to the lenders. Exercise of Option over shares in Moa Investments (2014) Limited (which, after repayment of advances, holds 1,067,636 Moa shares) for $1 by trustees of the Ross Ventures Trust. Additional information Address(es) of substantial product holder(s): PO Box 17408, Greenlane, Auckland 1546 Contact details: Steven 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: Geoff Ross, Justine Ross and Chris Hocquard as trustees of the Ross Ventures Trust Disclosure has effect for purposes of directors' and senior managers' disclosure Geoff Ross, a director of the General Partner of The Business Bakery L.P., is also a director of Moa 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:00319103 For:MOA Type:SHINTR Time:2018-06-08 10:49:42