SPH Notice – New Zealand Steel Limited

Disclosure of change in nature of relevant interest Sections 277 and 278, Financial Markets Conduct Act 2013 Note: This form must be completed in accordance with the instructions at the end of the form. To NZX Limited and To Steel & Tube Holdings Limited Relevant event being disclosed: change in nature of relevant interest Date of relevant event: 19 October 2018 Date this disclosure made: 19 October 2018 Date last disclosure made: 17 October 2018 Substantial product holder(s) giving disclosure Full name(s): New Zealand Steel Limited Summary of substantial holding Class of quoted voting products: ordinary shares Summary for New Zealand Steel Limited For this disclosure,-- (a) total number held in class: 26,274,753 (b) total in class: 165,997,540 (c) total percentage held in class: 15.828%% For last disclosure,-- (a) total number held in class: 26,274,753 (b) total in class: 165,997,540 (c) total percentage held in class: 15.828% Details of transactions and events giving rise to relevant event Details of the transactions or other events requiring disclosure: On 16 October 2018, New Zealand Steel Limited entered into an agreement with the Milford Entities to purchase 26,274,753 shares in Steel & Tube Holdings Limited for $45,980,817.75. Settlement of the share transfer occurred on 19 October 2018. Details after relevant event Details for New Zealand Steel Limited Nature of relevant interest(s): registered holder and beneficial owner of 26,274,753 ordinary shares. For that relevant interest,-- (a) number held in class: 26,274,753 (b) percentage held in class: 15.828% (c) current registered holder(s): New Zealand Steel Limited (d) registered holder(s) once transfers are registered: N/A Additional information Address(es) of substantial product holder(s): 131 Mission Bush Road, Glenbrook, South Auckland Contact details: Jason Dale, Chief Financial Officer New Zealand & GM Pacific Islands, New Zealand Steel, Phone: +64 9 375 8878, Mobile: +64 21 359 017, Email: jason.dale@bluescopesteel.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: N/A Certification I, Jason Dale, 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:00325580 For:STU Type:SHINTR Time:2018-10-19 14:50:19