Notice Pursuant to Rule 49A of the Takeovers Code

Bounty Holdings New Zealand Limited C/- Russell McVeagh The Vero Centre, Level 25 48 Shortland Street, Auckland 1010 New Zealand 21 August 2018 Tegel Group Holdings Limited 100 Carlton Gore Road Newmarket Auckland 1023 New Zealand cc The Takeovers Panel Level 3, Solnet House 70 The Terrace PO Box 1171 Wellington 6011 By email: takeovers.panel@takeovers.govt.nz cc NZX Limited Level 1, NZX Centre 11 Cable Street Wellington By email: announce@nzx.com cc ASX Limited 20 Bridge Street NSW 2000 Sydney Australia By email: maogroup@asx.com.au NOTICE PURSUANT TO RULE 49A OF THE TAKEOVERS CODE We refer to Bounty Holdings New Zealand Limited's takeover offer for all of the fully paid ordinary shares ("Shares"), and all of the performance rights granted under the equity settled share based incentive plan for senior managers and eligible employees in May 2016 ("FY2017 Performance Rights") and in July 2017 ("FY2018 Performance Rights"), in Tegel Group Holdings Limited ("Tegel") dated 28 May 2018 ("Offer"). This notice is given to satisfy the requirement of rule 49A of the Takeovers Code to notify the Takeovers Panel, Tegel, NZX and ASX on each occasion when the total level of acceptances received for each class of equity securities subject to the Offer increases by 1% or more of the total issued equity securities in each class in Tegel. At 5:00pm on 21 August 2018, the level of acceptances received pursuant to the Offer in respect of the Shares is 64.98% (rounded to two decimal places) of the total issued ordinary shares in Tegel. End CA:00322568 For:TGH Type:TRANSACT Time:2018-08-22 08:45:39