Arvida Group Limited — Major Shareholding Notification 2021

Oct 19, 2021

Disclosure of beginning to have substantial holding

Section 276, Financial Markets Conduct Act 2013

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

To New Zealand Stock Exchange

and

To Arvida Group Limited

Date this disclosure made: 19/10/2021

Date on which substantial holding began: 18/10/2021

Substantial product holder(s) giving disclosure

Full name(s): Milford Asset Management Limited

Summary of substantial holding

Class of quoted voting products: Ordinary shares

Summary for Milford Asset Management Limited

For this disclosure,—

• (a) total number held in class: 39,220,361

• (b) total in class: 543,300,000

• (c) total percentage held in class: 7.2189 %

Details of relevant interests

Details for Milford Asset Management Limited

• 1,124,652 (0.2070%) - Milford Diversified Income Wholesale Fund (Custodian – NNL Custodians)

• 7,595 (0.0014%) - Milford Diversified Income Fund AUT (Custodian – NNL Custodians)

• 36,743,214 (6.763%) - Milford Active Growth Wholesale Fund (Custodian – NNL Custodians)

• 1,344,900 (0.2475%) - Milford NZ Equities Whole Fund (Custodian – NNL Custodians)

Details of transactions and events giving rise to substantial holding

On-market sells totalling 7,765,504 for total consideration of $16,148,912.83.

On-market purchases totalling 14,743,582 units for total consideration of $28,987,133.08.

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Additional information

Address(es) of substantial product holder(s): Level 28, 48 Shortland Street, Auckland 1010, New Zealand.

Contact details: Rukshar Rahmat, Operations Associate, (09) 921 4753

Certification

I, Rukshar Rahmat, 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.

100080615/3821102.1

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