SPH Notice – Harbour Asset Management Limited

Disclosure of ceasing to have substantial holding Section 279, 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 (STU) Date this disclosure made: 21 November 2018 Date last disclosure made: 7 November 2018 Date on which substantial holding ceased: 20 November 2018 Substantial product holder(s) giving disclosure Full name(s): Harbour Asset Management Limited Summary of previous substantial holding Class of quoted voting products: Steel & Tube Holdings Limited (STU) Ordinary Shares Summary for Harbour Asset Management Limited For last disclosure,-- (a) total number held in class: 9,117,284 (b) total in class: 165,997,540 (c) total percentage held in class: 5.492% For current holding after ceasing to have substantial holding,-- (a) total number held in class: 7,970,187 (b) total in class: 165,997,540 (c) total percentage held in class: 4.801% Details of transactions and events giving rise to ceasing of substantial holding Details of the transactions or other events requiring disclosure: As noted above, on 7 November 2018, Harbour Asset Management Limited disclosed a relevant interest in 9,117,284 (5.492%) STU ordinary shares. In the period since the last disclosure, as part of ordinary on market trading, Harbour Asset Management Limited sold 1,147,097 STU ordinary shares for total consideration $1,460,881.25. As a result of these transactions, Harbour Asset Management Limited has, at the date of this notice, a relevant interest in 7,970,187 (4.801%) STU ordinary shares. At the date of the relevant event, First NZ Capital Securities Limited has a relevant interest in 537,121 (0.324%) STU ordinary shares and First NZ Capital Group Limited, (which includes the related bodies corporate: Harbour Asset Management Limited and First NZ Capital Securities Limited), has a relevant interest in 8,507,308 (5.125%) STU ordinary shares. Additional information Address(es) of substantial product holder(s): Level 14, 171 Featherston Street, Wellington Contact details: Kate Livingston +64 9 307 5747, kate.livingston@fnzc.co.nz Nature of connection between substantial product holders: First NZ Capital Group Limited, First NZ Capital Securities Limited and Harbour Asset Management Limited are related bodies corporate. 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, Kate Livingston, 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:00327176 For:STU Type:SHINTR Time:2018-11-21 14:45:29