Wellington director independence

The Board has determined that John McMahon is no longer an independent director of the Company following his appointment today as a director of NZX Limited. NZX Limited is the holding company of Smartshares Limited, the manager of the Superlife Invest investment scheme. Due to the provisions of the Superlife Invest Trust Deed, Superlife (via its nominee BNP Paribas Nominees (NZ) Limited) holds a relevant interest in 27.478% of Wellington's ordinary shares according to their most recent disclosure. End CA:00336683 For:WDT Type:ADMIN Time:2019-06-26 15:20:37