Tiger Brokers resignation

Memorandum To: Market Participants From: NZX Regulation Limited (NZ RegCo) Date: 12 May 2021 Subject: Resignation of Tiger Brokers (NZ) Limited as Market Participant Message Tiger Brokers (NZ) Limited has resigned as an NZX Advising Participant, effective 12 May 2021. Accordingly, Tiger Brokers' status as an accredited NZX Market Participant has ceased. Tiger Brokers' accreditation had been in suspension since 1 July 2020, in relation to an ongoing breach of NZX Participant Rule 5.11.1. That Rule required Tiger Brokers to have in place a trading agreement with a Trading Participant, to enable execution of on-market client orders in securities quoted on the NZX Main Board and Debt Market. Since 1 April 2020, Tiger Brokers has not had in place a trading agreement as required by the Rules and has been unable to execute client orders on NZX's markets. Tiger Brokers' remained subject to all of its obligations under the NZX Participant Rules during the period of suspension, including in relation to its capital adequacy and client asset obligations. NZ RegCo reiterates its expectations of NZX Market Participants' compliance with their conduct obligations, in support of market integrity and the orderly operation of NZX's markets. Please contact NZ RegCo at participant@nzregco.com with any queries. ENDS End CA:00372089 For:REGCO Type:GENERAL Time:2021-05-12 13:49:40