Notification of Allotment of Securities

Section 1: issuer information Name of issuer: Heartland Bank Limited NZX ticker code: HBL020 Class of Financial Product: Fixed Rate Notes ISIN: NZHBLD0020L2 Section 2: capital change details Number issued/acquired/redeemed/: 125,000,000 Nominal value (if any): NZ$125,000,000 Issue/acquisition/redemption/ price: NZ$1.00 per note Nature of the payment (for example, cash or other consideration): Payment in cash Amount paid up (if not in full): Fully paid Percentage of total class of Financial Products issued/acquired/redeemed/ (calculated on the number of Financial Products of the Class, excluding any Treasury Stock, in existence) : 100% For an issue of Convertible Financial Products or Options, the principal terms of Conversion (for example the Conversion price and Conversion date and the ranking of the Financial Product in relation to other Classes of Financial Product) or the Option (for example, the exercise price and exercise date): Not applicable Reason for issue/acquisition/redemption and specific authority for issue/acquisition/redemption/ (the reason for change must be identified here): General corporate purposes Total number of Financial Products of the Class after the issue/acquisition/redemption/Conversion (excluding Treasury Stock) and the total number of Financial Products of the Class held as Treasury Stock after the issue/acquisition/redemption: 125,000,000 In the case of an acquisition of shares, whether those shares are to be held as treasury stock: Not applicable Specific authority for the issue, acquisition, or redemption, including a reference to the rule pursuant to which the issue, acquisition, or redemption is made: Not applicable Terms or details of the issue, acquisition, or redemption (for example: restrictions, escrow arrangements): As set out in the final terms sheet dated 5 April 2019 Date of issue/acquisition/redemption: 12/04/2019 Section 3: authority for this announcement Name of person authorised to make this announcement: Michael Drumm Contact phone number: 09 927 9136 Contact email address: Michael.Drumm@heartland.co.nz Date of release via MAP 15/04/2019 End CA:00333363 For:HGH Type:SECISSUE Time:2019-04-15 08:50:46