SPH Notice – JCR Investment Trust

Disclosure of movement of 1% or more in substantial holding or change in nature of relevant interest, or both Sections 277 and 278, Financial Markets Conduct Act 2013 To NZX Limited and To Burger Fuel Group Limited Relevant event being disclosed: Change in nature of relevant interest Date of relevant event: 23 October 2020 Date this disclosure made: 23 October 2020 Date last disclosure made: 21 September 2018 Substantial product holder(s) giving disclosure Full name(s): JCR Capital Limited and 730 Trustee Company Limited as co-trustees of the JCR Investment Trust Summary of substantial holding Class of quoted voting products: Fully paid ordinary shares in Burger Fuel Group Limited (BFG) Summary for JCR Capital Limited and 730 Trustee Company Limited as co-trustees of the JCR Investment Trust (JCR Investment Trust) For this disclosure,-- (a) total number held in class: 39,962,644 (b) total in class: 53,670,195 (c) total percentage held in class: 74.460% For last disclosure,-- (a) total number held in class: 39,962,644 (b) total in class: 55,555,935 (c) total percentage held in class: 71.93% Details of transactions and events giving rise to relevant event Details of the transactions or other events requiring disclosure: BFG, Christopher Simon Mason, personally, and jointly with Christopher John Mills as trustees of the Mason Family Trust, and Mason Roberts Holdings Limited, have entered into a buyback deed (Buyback Deed). Under the Buyback Deed, BFG has agreed to buyback a total of 3,333,332 fully paid ordinary shares in BFG held by Mason Roberts Holdings Limited which are beneficially owned by Christopher Simon Mason and Christopher John Mills as trustees of the Mason Family Trust, for consideration of $0.39 per share (as further described in the Buyback Deed).: A copy of the Buyback Deed is attached to this disclosure (16 pages). A change in the nature of the JCR Investment Trust's relevant interest in 3,333,332 ordinary shares in BFG (held by Mason Roberts Holdings Limited), that it has the power to control the acquisition or disposal of, has arisen as those shares are now subject to the terms of the Buyback Deed, under which BFG has the power to acquire those 3,333,332 ordinary shares. Details after relevant event Details for JCR Capital Limited and 730 Trustee Company Limited as co-trustees of the JCR Investment Trust Nature of relevant interest(s): Power to control the acquisition or disposal of certain ordinary shares in BFG pursuant to the terms of the Transaction Agreement dated 23 August 2011 (as disclosed to the market in a substantial product holder notice dated, and submitted by the JCR Investment Trust on, 21 September 2011) For that relevant interest,-- (a) number held in class: 3,252,977 (b) percentage held in class: 6.061% (c) current registered holder(s): Mason Roberts Holdings Limited (d) registered holder(s) once transfers are registered: Not applicable Nature of relevant interest(s): Power to control the acquisition or disposal of certain ordinary shares in BFG pursuant to the terms of the Transaction Agreement dated 23 August 2011 (as disclosed to the market in a substantial product holder notice dated, and submitted by the JCR Investment Trust on, 21 September 2011), subject to the terms of the Buyback Deed, under which BFG has the power to acquire the shares the subject of this relevant interest (as noted above) For that relevant interest,-- (a) number held in class: 3,333,332 (b) percentage held in class: 6.211% (c) current registered holder(s): Mason Roberts Holdings Limited (d) registered holder(s) once transfers are registered: Not applicable, shares to be cancelled immediately upon acquisition by BFG Nature of relevant interest(s): Beneficial owner For that relevant interest,-- (a) number held in class: 33,376,335 (b) percentage held in class: 62.188% (c) current registered holder(s): Mason Roberts Holdings Limited (d) registered holder(s) once transfers are registered: Not applicable Additional information Address(es) of substantial product holder(s): c/o Greenlion, 130 Saint Georges Bay Road, Parnell, Auckland, 1052, New Zealand Contact details: Josef Christopher Roberts josef@burgefuel.co.nz Nature of connection between substantial product holders: JCR Capital Limited and 730 Trustee Company Limited are co-trustees of the JCR Investment Trust 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: Burger Fuel Group Limited and Christopher Simon Mason and Christopher John Mills as co-trustees of the Mason Family Trust Certification I, Josef Christopher Roberts, 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:00361996 For:BFG Type:SHINTR Time:2020-10-23 12:36:20