Substantial Shareholder Cessation

Disclosure of ceasing to have substantial holding Section 25, Securities Markets Act 1988 To: NZX Limited And: Promisia Integrative Limited Date this disclosure made: 31 December 2018 Date last disclosure made: 30 January 2018 Substantial security holder(s) giving disclosure Name(s): Eoin Malcom Miller Johnson, Kathleen Johnson and Eaun Wright (Aratas Investment Trust) and Eoin Malcom Miller Johnson Contact details: Stephen Underwood; Telephone 027 499 3387; email: stephen@renouf.co.nz Date on which substantial security holder(s) ceased to have substantial holding: 31 December 2018 Summary of previous substantial holding to which disclosure relates Class of listed voting securities: Ordinary shares (NZSX:PIL) Summary for: Eoin Malcom Miller Johnson and associated persons For last disclosure,-- (a) total number held in class: 40,518,473 (b) total in class: 450,733,130 (c) total percentage held in class: 8.99% For current holding after ceasing to have substantial holding: (a) total number held in class: 93,389,040 (b) total in class: 1,901,797,451 (c) total percentage held in class: 4.91% Details of transactions and events giving rise to person ceasing to have substantial holding Details of the transactions or other events requiring disclosure under the instructions to this form: As a result of a rights issue to eligible shareholders closing on 24 December 2018 and the conversion of short term advances from another shareholder to equity, there has been a dilution in the interests of the former substantial shareholder and it is no longer a substantial shareholder in the company. Additional information Nature of connection between substantial security holders: Eoin Malcom Miller Johnson has a beneficial interest in the shares held by the Aratas Investment Trust Address(es) of substantial security holder(s): 14 Baxter Michael Crescent, Cambridge 3434, New Zealand Name of any other person believed to have given, or believed to be required to give, a disclosure under the Act in relation to the securities to which this disclosure relates: Not Applicable Declaration I, Stephen Underwood, declare 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:00329045 For:PIL Type:SHINTR Time:2019-01-03 08:31:19