SPH Notice – Accident Compensation Corporation

Disclosure of ceasing to have substantial holding Section 279, Financial Markets Conduct Act 2013 To New Zealand Stock Exchange and To Investore Property Ltd Date this disclosure made: 20 June 2018 Date last disclosure made: 15 January 2018 Date on which substantial holding ceased: 18 June 2018 Substantial product holder(s) giving disclosure Full Name(s): Accident Compensation Corporation (ACC) Summary of previous substantial holding Class of quoted voting products: Ordinary shares (IPL NZ) Summary for: Accident Compensation Corporation (ACC) For last disclosure: (a) Total number held in class: 13,565,200 (b) Total in class: 261,771,833 (c) Total percentage held in class: 5.182% For current holding after ceasing to have substantial holding: (a) Total number held in class: 13,065,990 (b) Total in class: 261,772,000 (c) Total percentage held in class: 4.991% Details of transactions and events giving rise to ceasing of substantial holding Details of the transactions or other events requiring disclosure: From 13 January 2018 to 18 June 2018, ACC had the following aggregated on-market transactions in Investore Property Ltd: - Sales of 1,561,678 shares for consideration of NZD $2,243,331 - Purchases of 1,062,468 shares for consideration of NZD $1,492,071 Additional information Address(es) of substantial product holder(s): ACC: Justice Centre, 19 Aitken Street, PO Box 242, Wellington 6140. Contact details: Jonathan Williams +64 4 816 7045 investmentscompliance@acc.co.nz In accordance with the Financial Markets Authority's Guidance Note: Guidance on Substantial Product Holder Disclosures issued on 27 September 2017, ACC has not made disclosures for employees who manage the financial products of which ACC is the beneficial owner. 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 securities to which this disclosure relates: n/a Certification I, Jonathan Williams, 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:00319622 For:IPL Type:SHINTR Time:2018-06-20 09:45:17