SPH Notice – Stewart Trustees

Disclosure of movement of 1% or more in substantial holding or change in nature of relevant interest, or both Sections 277 and 278, Financial Markets Conduct Act 2013 To NZX Limited and To TIL Logistics Group Limited (NZX: TLL) Relevant event being disclosed: Movement of 1% or more in substantial holding Date of relevant event: 10 October 2018 Date this disclosure made: 10 October 2018 Date last disclosure made: 7 December 2017 Substantial product holder(s) giving disclosure Full name(s): Kaylene Stewart, Larry Stewart and SR Taranaki Trustees Limited ("Stewart Trustees") Summary of substantial holding Class of quoted voting products: Ordinary shares Summary for Stewart Trustees For this disclosure,-- (a) total number held in class: 65,341,378 (b) total in class: 82,507,548 (c) total percentage held in class: 79.194% For last disclosure,-- (a) total number held in class: 66,919,731 (b) total in class: 81,459,483 (c) total percentage held in class: 82.151% Details of transactions and events giving rise to relevant event Details of the transactions or other events requiring disclosure: On 8 October 2018, Bowker Holdings 99 Limited ("Bowker") filed a substantial product holder notice ("SPH Notice") stating that it had advised TIL Logistics that it intends to undertake a sale of up to 10,400,000 ordinary shares in TIL Logistics ("Sale Shares"), representing approximately 12.605% of all TIL Logistics ordinary shares by way of a bookbuild process managed by Woodward Partners ("Block Trade"). The Block Trade settled on 10 October 2018 and Bowker sold 2,468,900 ordinary shares, at a price of $1.50 per share to investors participating in the Block Trade. Accordingly, the number of shares in which the Stewart Trustees have a relevant interest has reduced. Details after relevant event Details for Stewart Trustees Nature of relevant interest(s): Registered holders and beneficial owners (jointly), in their capacity as trustees of the LW and KJ Stewart Family Trust, of ordinary shares in TIL Logistics Group Limited (no relevant agreement attached as per regulation 141). For that relevant interest,-- (a) number held in class: 675,529 (b) percentage held in class: 0.819% (c) current registered holder(s): No change (d) registered holder(s) once transfers are registered: No change Details for Stewart Trustees Nature of relevant interest(s): The Stewart Trustees have the power to exercise the right to vote attached to 20% or more of the voting rights of each of Hooker Bros. Investments Limited and Hooker Bros (1989) Limited ("Hooker Bros. Entities"), resulting in the Stewart Trustees having a relevant interest in the financial products of TIL Logistics Group Limited held by each of the Hooker Bros. Entities. The Hooker Bros. Entities each have the power to exercise the right to vote attached to 20% or more of the voting rights of Bowker, resulting in the Stewart Trustees having a relevant interest in the financial products of TIL Logistics Group Limited held by Bowker. Bowker's power of disposal of its shares has been qualified by the escrow deed (subject to the exclusions in the escrow deed permitting, amongst other things, the sale of up to 10,400,000 shares) between TIL Logistics Group Limited and Bowker dated 8 October 2018 (attached to the SPH Notice, dated 8 October 2018). For that relevant interest,-- (a) number held in class: 64,665,849 (b) percentage held in class: 78.376% (c) current registered holder(s): No change (d) registered holder(s) once transfers are registered: Unknown Additional information Address(es) of substantial product holder(s): 4 Carlton Terrace, Westown, New Plymouth 4310 Contact details: Larry Stewart, (06) 753 4010, lwstewart1948@gmail.com 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: Bowker; Gregory James Kern; Kern Group (Logistics) Pty Limited; Kern Group Pty Limited; Kern Consulting Group Super Fund; Alan Paul Terris; James Ramsay, Nerida Joy Ramsay and RMY Trustees (2010) Limited; Gregory Peter Whitham; Kevin Garnet Smith Certification I, Larry Stewart, 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:00325135 For:TLL Type:SHINTR Time:2018-10-10 09:49:34