SPH Notice – Milford Funds Limited

Disclosure of beginning to have substantial holding Section 276, Financial Markets Conduct Act 2013 Note: This form must be completed in accordance with the instructions at the end of the form. To The New Zealand Stock Exchange and To Steel & Tube Holdings Limited Date this disclosure made: 13/08/2018 Date on which substantial holding began: 10/08/2018 Substantial product holder(s) giving disclosure Full name(s): Milford Funds Limited Summary of substantial holding Class of quoted voting products: Ordinary Shares Summary for Milford Funds Limited For this disclosure,-- (a) total number held in class: 9,754,742 (b) total in class: 108,759,631 (c) total percentage held in class: 8.97% Details of relevant interests Details for Milford Funds Limited Nature of relevant interest(s): - Milford Active Growth Wholesale Fund (6.280%), (Custodian - NNL Custodians), - Milford Private Equity Limited and MPE II GP Limited as a related body corporate of Milford Funds Limited (1.629%), (Custodian - FNZ), - Milford Income Wholesale Fund (0.643%), (Custodian - NNL Custodians), - Milford NZ Equities Wholesale Fund (0.418%), (Custodian - NNL Custodians). Details of transactions and events giving rise to substantial holding Details of the transactions or other events requiring disclosure: On-market purchases of 6,081,917 ordinary shares, for total consideration of $7,016,509.35 was made during the period 10 April 2018 - 10 August 2018. Additional information Address(es) of substantial product holder(s): Level 17, 41 Shortland Street, Auckland 1140, New Zealand Contact details: Kash Mehra, Operations Associate contact: (09) 921 4700 Certification I, Kash Mehra, 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:00322137 For:STU Type:SHINTR Time:2018-08-13 16:30:05