SPH Notice – Pie Funds Management Limited

Disclosure of ceasing to have substantial holding Section 279, Financial Markets Conduct Act 2013 To NZX LIMITED and To SLI SYSTEMS LIMITED Date this disclosure made: 8 January 2019 Date last disclosure made: 26 October 2018 Date on which substantial holding ceased: 28 December 2018 Substantial product holder(s) giving disclosure Full name(s): PIE FUNDS MANAGEMENT LIMITED Summary of previous substantial holding Class of quoted voting products: Ordinary Shares Summary for PIE FUNDS MANAGEMENT LIMITED For last disclosure,-- (a) total number held in class: 5,046,231 (b) total in class: 62,260,816 (c) total percentage held in class: 8.10% For current holding after ceasing to have substantial holding,-- (a) total number held in class: 0 (b) total in class: 0 (c) total percentage held in class: 0% Details of transactions and events giving rise to ceasing of substantial holding Details of the transactions or other events requiring disclosure: On 22 October 2018, ESW Holdings, Inc. (ESW) entered into a Sale Agreement with Tea Custodians Limited in relation to a proposed full takeover offer for all of the ordinary shares in SLI (the Sale Agreement). Under the Sale Agreement, Tea Custodians Limited (as Custodian for certain ordinary shares held in funds managed by Pie Funds Management Limited) has agreed to accept the conditional full takeover offer for all of the ordinary shares in SLI. Additional information Address(es) of substantial product holder(s): PIE FUNDS MANAGEMENT LIMITED. Level 1, 1 Byron Avenue, Takapuna, Auckland 0622. Contact details: Marie Ovel marie@piefunds.co.nz 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: ESW Certification I, Marie Ovel 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:00329222 For:SLI Type:SHINTR Time:2019-01-08 14:56:02