Arvida Group Limited — Major Shareholding Notification 2018

Jun 1, 2018

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

Section 277 and 278, Financial Markets Conduct Act 2013

To: NZX Limited and To: Arvida Group Limited Date of relevant event: 30 May 2018 Date of this disclosure: 31 May 2018 Date last disclosure made: 31 October 2017 Substantial product holder(s) giving disclosure: Full name(s): 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: 29,330,506 (b) total in class: 413,949,842 (c) total percentage held in class: 7.086%

Forlastdisclosure,—
(a) total number held in class:	25,087,941
(b) total in class:	413,740,527
(c) total percentage held in class:	6.064%

Details of transactions and events giving rise to relevant event

Date ofevent	Nature ofevent	Consideration	Number offinancialproducts	Currentregisteredholder(s)	Registeredholder(s) oncetransfers areregistered
31 October2017 – 30May 2018	On-marketsales	$3,626,343	2,982,997	Forsyth BarrCustodiansLimited	Unknown
31 October2017 – 30May 2018	On-marketpurchases	$8,481,776	6,937,721	Unknown	Forsyth BarrCustodiansLimited
31 October2017 – 30May 2018	Off-markettransfers intoDIMS	Nil	405,421	Unknown	Forsyth BarrCustodiansLimited
31 October2017 – 30	Off-markettransfers out	Nil	117,580	Forsyth BarrCustodians	Unknown

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May 2018 of DIMS Limited

Details after relevant event

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 regulations 139 and 142

For that relevant interest,— (a) number held in class: 29,330,506 (b) percentage held in class: 7.086% (c) current registered holder(s): See above (d) registered holder(s) once transfers are See above 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 (d) if the substantial product holder is not a Not applicable party to the derivative, the nature of the relevant interest in the derivative:

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

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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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