SPH Notice – New Zealand Superannuation Fund Nominees Ltd

Disclosure of ceasing to have substantial holding Section 279, 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 Summerset Group Holdings Limited Date this disclosure made: 11/06/2018 Date last disclosure made: 26/10/2017 Date on which substantial holding ceased: 07/06/2018 Substantial product holder(s) giving disclosure Full name(s): New Zealand Superannuation Fund Nominees Limited as nominee for the New Zealand Superannuation Fund being property of Her Majesty the Queen in right of New Zealand and managed by the Guardians of New Zealand Superannuation ("NZSF") Summary of previous substantial holding Class of quoted voting products: ordinary shares in Summerset Group Holdings Limited - ISIN: NZSUME0001S0 Summary for: NZSF For last disclosure,-- (a) total number held in class: 11,235,840 (b) total in class: 223,036,104 (c) total percentage held in class: 5.038% For current holding after ceasing to have substantial holding,-- (a) total number held in class: 11,196,480 (b) total in class: 224,778,303 (c) total percentage held in class: 4.981% Details of transactions and events giving rise to ceasing of substantial holding Details of the transactions or other events requiring disclosure: Between 25 October 2017 and 15 May 2018, NZSF (through its internal equities portfolio and account managed by Mint Asset Management Limited) purchased an aggregate of 908,985 ordinary shares in Summerset Group Holdings Limited on-market for aggregate consideration of $5,308,529. Between 15 December 2017 and 7 June 2018, NZSF (through its internal equities portfolio and account managed by Mint Asset Management Limited) sold an aggregate of 958,289 ordinary shares in Summerset Group Holdings Limited on-market for aggregate consideration of $6,472,649. On 22 March 2018, NZSF (through its accounts managed by State Street Global Advisors and Mint Asset Management Limited) received an aggregate of 9,944 ordinary shares in Summerset Group Holdings Limited for aggregate consideration of $65,780 through the Dividend Reinvestment Plan. Additional information Address(es) of substantial product holder(s): Level 12, Zurich House, 21 Queen Street, Auckland 1010, New Zealand Contact details: James Hassell Ph No. +64 9 300 6980 Email: jhassell@nzsuperfund.co.nz Certification I, James Hassell, 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:00319169 For:SUM Type:SHINTR Time:2018-06-11 13:36:35