Arvida Group Limited — Capital/Financing Update 2017

Sep 18, 2017

P +64 9 972 1180 E info@arvida.co.nz

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19 September 2017

NZX Limited Level 1, NZX Centre 11 Cable Street Wellington

Unit F, Level 1, 39 Market Place, Auckland 1010, PO Box 90217 Victoria Street West Auckland 1142 New Zealand

www. arvida .co.nz

NOTICE PURSUANT TO CLAUSE 20(1)(a) OF SCHEDULE 8 TO THE FINANCIAL MARKETS CONDUCT REGULATIONS 2014: RIGHTS OFFER & SHORTFALL BOOKBUILD

1. Arvida Group Limited ( Arvida ) has announced that it will undertake a pro-rata 1 for 5 renounceable rights issue offer of fully paid ordinary shares of the same class as already quoted on the NZX Main Board of NZX Limited, underwritten by Forsyth Barr Group Limited. Any shares not taken up or attributable to selected investors will be offered through a shortfall bookbuild to be run by Forsyth Barr Group Limited on or about 13 October 2017, although the shortfall offer will not be underwritten.

2. Pursuant to clause 20(1)(a) of Schedule 8 to the Financial Markets Conduct Regulations 2014 ( FMC Regulations ), and the Financial Markets Conduct Act 2013 ( FMCA ), Arvida states that:

   • a. Arvida is making the offers in reliance upon the exclusion in clause 19 of Schedule 1 to the FMCA and is giving this notice under clause 20(1)(a) of Schedule 8 to the FMC Regulations.

   • b. As at the date of this notice, Arvida is in compliance with the continuous disclosure obligations that apply to it in relation to ordinary shares in Arvida and there is no information that is “excluded information” as defined in clause 20(5) of Schedule 8 to the FMC Regulations.

   • c. As at the date of the notice, Arvida is in compliance with its financial reporting obligations.

3. The offers are not expected to have any material effect or consequence on the control of Arvida.

Yours faithfully

Jeremy Nicoll Chief Financial Officer Arvida Group Limited