SPH Notice – NovaPort Capital Pty 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 Kathmandu Holdings Limited Relevant event being disclosed: Change of interests of substantial holder Date of relevant event: 19 July 2018 Date this disclosure made: 23 July 2018 Date last disclosure made: 01 August 2017 Substantial product holder(s) giving disclosure Full name(s): NovaPort Capital Pty Ltd (ACN 140 833 656) Summary of substantial holding Class of quoted voting products: Ordinary Fully Paid Shares in KMD Summary for NovaPort Capital Pty Ltd: For this disclosure,-- (a) total number held in class: 13,518,094 (b) total in class: 225,314,819 (c) total percentage held in class: 6.00% For last disclosure,-- (a) total number held in class: 15,194,513 (b) total in class: 201,497,120 (c) total percentage held in class: 7.54% Details of transactions and events giving rise to relevant event Details of the transactions or other events requiring disclosure: purchased on-market and purchased off-market as set out more fully in Annexure 2. Details after relevant event Details for NovaPort Capital Pty Ltd Nature of relevant interest(s): Non-beneficial owner (pursuant to an investment management contract) of Ordinary Fully Paid Shares in KMD. A relevant agreement need not be attached pursuant to regulation 142. For that relevant interest,-- (a) number held in class: 13,518,094 (b) percentage held in class: 6.00% (c) current registered holder(s): See Annexure 1 (d) registered holder(s) once transfers are registered: Not applicable For a derivative relevant interest, also-- (a) type of derivative: N/A (b) details of derivative: N/A (c) parties to the derivative: N/A (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 2, 5 Martin Place, Sydney, NSW, 2000 Contact details: Andrew Brown, Company Secretary: abrown@challenger.com.au; +61 2 9994 7468 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: Challenger Limited and its associated entities is also giving disclosure in relation to these financial products. Certification I, Andrew Brown, 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:00321208 For:KMD Type:SHINTR Time:2018-07-24 08:33:57