SPH Notice – E&P Foundation Trustee Limited

Disclosure of ceasing to have substantial holding Section 279, Financial Markets Conduct Act 2013 TO: NZX Limited and TO: Burger Fuel Worldwide Limited Date this disclosure made: 20 September 2018 Date last disclosure made: 23 July 2018 Date on which substantial holding ceased: 20 September 2018 Substantial product holder giving notice: E&P Foundation Trustee Limited Summary of previous substantial holding: Class of quoted voting products: ordinary shares Summary for: E&P Foundation Trustee Limited For last disclosure:- (a) total number held in class: 2,900,000 (b) total in class: 56,490,195 (c) total percentage held in class: 5.1% For current holding after ceasing to have substantial holding:- (a) total number held in class: 2,747,138 (b) total in class: 56,490,195 (c) total percentage held in class: 4.86% Details of transactions and events giving rise to ceasing of substantial holding Details of the transactions or other events requiring disclosure: Following the increase of E&P Foundation Trustee Limited's shareholding percentage from 4.86% (rounded up to 4.9%) to 5.1 % on 17 July 2018 after the share buyback by Burger Fuel Worldwide Limited of 3,143,455 shares from Franchise Brands LLC, the Takeovers Code (Class Exemptions) Notice (No. 2) 2001 requires E&P Foundation Trustee Limited in the absence of any exemption to reduce its holding back to the original percentage of 4.86%. E&P Foundation Trustee Limited has achieved this by selling 152,862 shares to JCR Investment Trust (co- trustees JCR Capital Limited and 730 Trustee Company Limited) in an off-market transaction at the then market price of $0.70 per share. Additional information Address(es) of substantial product holder(s): 27 Bradford Street, Parnell, Auckland 1052 Contact details: Paul Devereux, Director E&P Foundation Trustee Limited, email paul@corporatecounsel.co.nz phone (021) 474 830 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: nil. Certification I, Paul James Devereux, 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:00324136 For:BFW Type:SHINTR Time:2018-09-20 10:43:11