thl Update to Dividend Reinvestment Plan Offer Document

27 August 2019 NZX ANNOUNCEMENT TOURISM HOLDINGS LIMITED (thl) UPDATE TO DIVIDEND REINVESTMENT PLAN OFFER DOCUMENT Tourism Holdings Limited (NZX: THL) (thl) advises that it has amended the terms of its Dividend Reinvestment Plan (DRP). A copy of the updated DRP Offer Document accompanies this announcement and can also be viewed via thl's website, www.thlonline.com. The amendment updates the DRP Offer Document for changes to the NZX Listing Rules that come into effect on 1 January 2020, which alter the latest date by which eligible shareholders can elect to participate in the DRP (or vary or amend their participation in the DRP) from the Record Date to the Business Day after the Record Date. Existing participants in the DRP do not need to take any action as a result of these changes, as their participation in the DRP will continue. Eligible shareholders who wish to participate in the DRP can elect to participate in the DRP in accordance with any of the procedures set out in the DRP Offer Document, including by completing an online election at https://investorcentre.linkmarketservices.co.nz. The Board has confirmed that the DRP will apply to the FY19 final dividend and a discount of 2% will apply to the VWAP used to calculate the strike price to determine the number of shares to be allotted to participants under the DRP. The Record Date for the FY19 final dividend is 2 October 2019; therefore, eligible shareholders who wish to participate in the DRP will need to ensure that they complete their online election or their Participation Notice is received by Link Market Services by 5.30pm on 3 October 2019. END Authorised by: Grant Webster Chief Executive Officer Tourism Holdings Limited Direct Dial: +64 9 336 4255 Mobile: +64 21 449 210 End CA:00339821 For:THL Type:OFFER Time:2019-08-27 08:39:10