Arvida Group Limited — Major Shareholding Notification 2017

Jul 11, 2017

Disclosure of beginning to have substantial holding

Section 276, Financial Markets Conduct Act 2013

To: NZX Limited and To: Arvida Group Limited Date this disclosure made: 11 July 2017 Date on which substantial holding began: 10 July 2017 Substantial product holder(s) giving disclosure: Forsyth Barr Investment Management Limited Summary of substantial holding Class of quoted voting products: Ordinary shares (ARV) Summary for Forsyth Barr Investment Management Limited For this disclosure,— (a) total number held in class: 16,794,687 (b) total in class: 334,260,879 (c) total percentage held in class: 5.024%

Details of relevant interests

Details for Forsyth Barr Investment Management Limited Nature of relevant interest(s): The relevant interest arises under various investment management agreements to which Forsyth Barr Investment Management Limited is a party in its capacity as a provider of discretionary investment management services ( DIMS ). The relevant interest arises only from the powers of investment contained in those agreements, including the power to control the exercise of the right to vote attached to the shares and to control the disposal of the shares. A relevant agreement document need not be attached under regulation 139.

For that relevant interest,— (a) number held in class: 16,794,687 (b) percentage held in class: 5.024% (c) current registered holder(s): Forsyth Barr Custodians Limited (d) registered holder(s) once transfers are Not applicable registered: For a derivative relevant interest, also— (a) type of derivative: Not applicable (b) details of derivative: Not applicable (c) parties to the derivative: Not applicable

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(d) if the substantial product holder is not a Not applicable party to the derivative, the nature of the relevant interest in the derivative:

Details of transactions and events giving rise to substantial holding

Details of the transactions or other events requiring disclosure in the period 10 March 2017 to 10 July 2017:

10 July 2017:
Nature of event	Consideration	Number of financial products
On-market purchases	$5,273,485	3,948,954
On-market sales	$969,887	738,624
Off-market transfers into DIMS	Nil	91,129
Off-market transfers out of DIMS	Nil	56,167

Additional information

Address(es) of substantial product holder(s):

Contact details:

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:

Forsyth Barr House, The Octagon, Dunedin

Rakesh Soma

T: +64 (9) 368 0035 E: compliance@forsythbarr.co.nz Not applicable

Certification

I, Rakesh Soma, 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.

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