Transaction Update

13 December 2018 NZX Announcement Transaction Update Southern Charter Financial Group Limited (Company) (NZX:SNC) wishes to provide a market update on the transaction approved by shareholders on 7 December 2018 between Golden Tower NZ Limited and Chang Ku EE (Transaction). Details of the Transaction were released to market in the Notice of Meeting dated 22 November 2018. The parties have agreed to delay completion of the Transaction until such time that the completion deliverables can be provided. We will release a further market update as soon as the new completion date is confirmed. We will keep the market informed of any further updates as they arise. For and on behalf of the Board, John Cilliers Independent Director Email: john.cilliers@outlook.co.nz End CA:00328307 For:SNC Type:TRANSACT Time:2018-12-13 15:09:38