Arvida Group Limited — Major Shareholding Notification 2020

Dec 31, 2020

Disclosure of ceasing to have substantial holding

Section 279, Financial Markets Conduct Act 2013

Note: This form must be completed in accordance with the instructions at the end of the form.

To The New Zealand Stock Exchange and

To Arvida Group Limited

Date this disclosure made: 31/12/2020

Date last disclosure made: 24/12/2020

Date on which substantial holding ceased: 30/12/2020

Substantial product holder(s) giving disclosure

Full name(s): Milford Funds Limited

Summary of previous substantial holding

Class of quoted voting products: Ordinary Shares

Summary for Milford Funds Limited

For last disclosure,—

• (a) total number held in class: 27,229,810

• (b) total in class: 542,488,000

• (c) total percentage held in class: 5.019 %

  • 24,728,038 (4.558%)- Milford Active Growth Wholesale Fund, (Custodian – NNL Custodians),

  • 2,501,772 (0.461%)- Milford NZ Equities Wholesale Fund, (Custodian - NNL Custodians).

For current holding after ceasing to have substantial holding,—

• (a) total number held in class: 27,053,547

• (b) total in class: 542,488,000

• (c) total percentage held in class: 4.987%

  • 24,728,038 (4.558%)- Milford Active Growth Wholesale Fund, (Custodian – NNL Custodians),

  • 2,325,509 (0.429%)- Milford NZ Equities Wholesale Fund, (Custodian - NNL Custodians).

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Details of transactions and events giving rise to ceasing of substantial holding

Details of the transactions or other events requiring disclosure:

On market sale transactions of 176,263 ordinary shares made during the period 28/12/20 - 30/12/20, for total consideration of $315,592.79.

Additional information

Address(es) of substantial product holder(s): Level 28, 48 Shortland Street, Auckland 1140, New Zealand

Contact details: Matt Thomas, 09 921 4700

Certification

I, Matt Thomas , 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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