AMP LIMITED — Major Shareholding Notification 2012

Mar 26, 2012

Disclosure of movement of 1% or more in substantial holding or change in nature of relevant interest or both

Sections 23 and 24, Securities Markets Act 1988

Relevant event being disclosed: Change in the number of voting securities in which a substantial security holder has a relevant interest (section 23(2))

Date of relevant event: 23 March 2012

To: NZX

And: Chorus Limited

Date this disclosure made: 26 March 2012

Date last disclosure made: 8 December 2011

Substantial security holder(s) giving disclosure

Name(s): AMP Capital Investors (New Zealand) Limited

Contact details: Pauline Edwards, +64 4 494 2184, Pauline.edwards@ampcapital.co.nz

Summary of substantial holding to which disclosure relates

Class of listed voting securities: Ordinary Shares in CNU

Summary for: AMP Capital Investors (New Zealand) Limited

For this disclosure,—

• (a) total number held in class: 34,501,977

• (b) total in class: 385,082,123

• (c) total percentage held in class: 8.960%

For last disclosure,—

• (a) total number held in class: 38,458,252

• (b) total in class: 385,082,123

• (c) total percentage held in class: 9.987%

Details of transactions and events giving rise to relevant event

Details of the transactions or other events requiring disclosure under the instructions to this form: A sale of 3,956,275 shares between 8/12/2011 and 23/03/2012

Details of relevant interests in substantial holding after relevant event

Details for: AMP Capital Investors (New Zealand) Limited and AMP Capital Investors Limited

Nature of relevant interest(s): Investment Manager and non-beneficial owner

For that relevant interest,—

• (a) number held in class: 34,501,977

• (b) percentage held in class: 8.960%

• (c) current registered holder(s) of securities: See Schedule one and Schedule two

• (d) registered holder(s) of securities once transfers registered: not applicable

Additional information

Nature of connection between substantial security holders: AMP Capital Investors (New Zealand) Limited, AMP Capital Investors Limited and AXA Asia Pacific Holdings Limited (or a wholly owned subsidiary company) is the Investment Manager for beneficial owners of the CNU shares (See schedule one attached). On 30 March 2011, AMP Financial Service Holdings

SSH Chorus 1% movement SSN 2012-03-23

Limited (a related body corporate of AMP Capital Investors (New Zealand) Limited acquired all of the voting securities in AXA Asia Pacific Holdings Limited, a company incorporated in Australia which occurred by share acquisition and scheme of arrangement.

Address(es) of substantial security holder(s): C/- Ground Floor, PWC Building, 113-119 The Terrace, Wellington

Name of any other person believed to have given, or believed to be required to give, a disclosure under the Act in relation to the securities to which this disclosure relates: not applicable

Declaration

I, Pauline Carol Edwards, declare 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.

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SCHEDULE ONE	SCHEDULE ONE
Non - Beneficial Relevant Interests
Name of Registered Holder	Number of voting securities
NZGT Nominees Limited	10,500,279	AMP Capital Investors (New Zealand) Limited has a relevant interest in the voting securities as f d d t un an asse manager of each of the registered holders
Guardians of New Zealand Superannuation	2,209,946
AMP Life Limited	6,732,344
Cogent Nominees Pty Limited	4,541,090
Citicorp Nominees Pty Limited	28,143
HSBC Custody Nominees (Australia) Limited	383,344
National Nominees Pty Limited	770,704
BNP Paribas Fund Services Australasia PTY Limited	92,551
JP Morgan Nominees Australia Limited	863,929
AMP Custodian Services (NZ) Limited	208,442
TOTAL	26,330,772

Detail of each relevant interest

• 5* NZGT Nominees Limited

• Name of registered holder

• 6* 8/12/2011-23/03/2012

Dates of transaction(s)Provision(s) of section 5

7* -131,700 Number of voting securities

Consideration (expressed in NZ$)

5* AMP Life Limited

Name of registered holder

6 8/12/2011-23/03/2012 Dates of transaction(s)Provision(s) of section 5 7 0 Number of voting securities 5* Guardians of New Zealand Superannuation

Consideration (expressed in NZ$)

Name of registered holder 6 8/12/2011-23/03/2012 Dates of transaction(s)Provision(s) of section 5 7 -909,200 Number of voting securities Consideration (expressed in NZ$) 5 BNP Paribas Fund Services Australasia PTY Limited Name of registered holder 6 8/12/2011-23/03/2012 Dates of transaction(s)Provision(s) of section 5 7 -1,000 Number of voting securities Consideration (expressed in NZ$) 5 National Nominees Pty Limited Name of registered holder 6* 8/12/2011-23/3/2012

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Dates of transaction(s)Provision(s) of section 5
7 0
Number of voting securities Consideration (expressed in
NZ$)
5 JP Morgan Nominees Australia Limited
Name of registered holder
6 8/12/2011-23/3/2012
Dates of transaction(s)Provision(s) of section 5
7 0
Number of voting securities Consideration (expressed in
NZ$)
5 Cogent Nominees Pty Limited
Name of registered holder
6 8/12/2011-23/3/2012
Dates of transaction(s)Provision(s) of section 5
7 -240,312
Number of voting securities Consideration (expressed in
NZ$)
5 HSBC Custody Nominees (Australia) Limited
Name of registered holder
6 8/12/2011-23/3/2012
Dates of transaction(s)Provision(s) of section 5
7 73,282
Number of voting securities Consideration (expressed in
NZ$)
5 Citicorp Nominees Pty Limited
Name of registered holder
6 8/12/2011-23/3/2012
Dates of transaction(s)Provision(s) of section 5
7 -95,478
Number of voting securities Consideration (expressed in
NZ$)
5 AMP Custodian Services (NZ) Limited
Name of registered holder
6 8/12/2011-23/3/2012
Dates of transaction(s)Provision(s) of section 5
7 0
Number of voting securities Consideration (expressed in
NZ$)
-1,304,408 TOTAL
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SCHEDULE TWO
Non - Beneficial Relevant Interests
Name of Registered Holder Number of voting securities
AXA Asia Pacific Holdings
Limited (or a wholly owned
subsidiar y com p an y) has a
relevant interest in the voting
secur iti es as un f d an d asse t
HSBC Custody Nominees (New Zealand) manager of each of the
Limited 8,171,205 re g istered holders.
TOTAL 8,171,205
HSBC Custody Nominees (New Zealand)
5 Limited
Name of registered holder
6 8/12/2011-23/3/2012
Dates of transaction(s)Provision(s) of section
5
7 -2,651,867
Number of voting securities Consideration (expressed in NZ
$)
-2,651,867 TOTAL
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