Notice of Dominant Ownership Pursuant to Rule 51

27 September 2018 Tegel Group Holdings Limited 100 Carlton Gore Road Newmarket Auckland 1023 New Zealand NZX Limited Level 1, NZX Centre 11 Cable Street Wellington By email: announce@nzx.com The Takeovers Panel Level 3, Solnet House 70 The Terrace PO Box 1171 Wellington 6011 By email: takeovers.panel@takeovers.govt.nz ASX Limited 20 Bridge Street NSW 2000 Sydney Australia By email: maogroup@asx.com.au NOTICE OF DOMINANT OWNERSHIP PURSUANT TO RULE 51 OF THE TAKEOVERS CODE 1. On 28 May 2018, Bounty Holdings New Zealand Limited ("Bounty") made a full takeover offer to purchase all of the fully paid ordinary shares that Bounty does not already hold, and all of the performance rights granted under the equity settled share based incentive plan for senior managers and eligible employees in Tegel Group Holdings Limited ("Tegel") ("Offer"). 2. Bounty has received acceptances in respect of 271,699,773 shares in Tegel, representing 76.34% (rounded to two decimal places) of the voting rights in Tegel and which has resulted in Bounty controlling more than 90% of the voting rights in Tegel. 3. In accordance with Rule 51 of the Takeovers Code, Bounty hereby gives notice that it has become the dominant owner (as defined in the Takeovers Code) of Tegel. End CA:00324526 For:TGH Type:TRANSACT Time:2018-09-27 15:34:39