THL – Dividend Reinvestment Plan Strike Price

10 October 2018 NZX ANNOUNCEMENT TOURISM HOLDINGS LIMITED (thl) DIVIDEND REINVESTMENT PLAN - STRIKE PRICE FOR 2018 FINAL DIVIDEND Tourism Holdings Limited advises that the strike price for the dividend reinvestment plan (DRP) operating in respect to the dividend payable on 11 October 2018 has been set at $5.283 per share. The strike price is inclusive of a 3% discount. This strike price will apply in calculating the number of shares to be issued to participants who have elected to receive additional shares rather than cash. The strike price has been determined in accordance with the DRP as the volume weighted average sale price for a thl share based on all trades of thl shares on the NZX Main Board over the period of 5 trading days immediately following the record date of 2 October 2018, less a 3% discount. END Authorised by: Grant Webster thl Chief Executive Direct Dial: +64 9 336 4255 Mobile: +64 21 449 210 End CA:00325129 For:THL Type:OFFER Time:2018-10-10 09:14:41