CHORUS LIMITED — Major Shareholding Notification 2018

Jul 10, 2018

Disclosure of ceasing to have substantial holding

Section 279, Financial Markets Conduct Act 2013

To NZX LIMITED

and To CHORUS LIMITED

Date this disclosure made: 11-Jul-2018 Date last disclosure made: 10 -Jul-2018 Date on which substantial holding ceased: 09-Jul-2018

Substantial product holder(s) giving disclosure Full name(s):

Commonwealth Bank of Australia

Summary of previous substantial holding
Class of quoted voting products:	Ordinary shares
Summary for Commonwealth	Bank of Australia
Forlastdisclosure,—
(a) total number held in class:	21,769,210
(b) total in class:	429,641,197
(c) total percentage held in class:	5.067%
For current holdingafterceasing to have substantial holding,—
(a) total number held in class:	21,381,477
(b) total in class:	429,641,197
(c) total percentage held in class:	4.977%

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

Details of the transactions or other events requiring disclosure:

See Appendix A

Additional information

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

• Avanteos Investments Limited ACN 096 259 979, Ground Floor Tower 1, 201 Sussex Street, Sydney, NSW, 2000, Australia

• Commonwealth Bank of Australia ACN 123 123 124, Ground Floor Tower 1, 201 Sussex Street, Sydney, NSW, 2000, Australia

• Colonial First State Investments Limited ACN 002 348 352, Ground Floor Tower 1, 201 Sussex Street, Sydney, NSW, 2000, Australia

• Realindex Investments Pty Limited ACN 133 312 017, Ground Floor Tower 1, 201 Sussex Street, Sydney, NSW, 2000, Australia

Contact details:

Anitha Subramanian, +61 (0) 457 529 297, AUSR_SM02041@cba.com.au

Nature of connection between substantial product holders: Avanteos Investments Limited ACN 096 259 979 Colonial First State Investments Limited ACN 002 348 352 Realindex Investments Pty Limited ACN 133 312 017

Commonwealth Bank of Australia is a related body corporate of

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:

[not applicable]

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Certification

I, Clare McManus, 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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Appendix A

Details of the transactions or other events requiring disclosure:

Date of Transaction	Holder of Relevant Interest	Registered Company Before Event	Registered Company After Event	Nature of Change	Class	Number of Securities	Cash Consideration	Currency
Monday, 9 July 2018	Colonial First State Investments Limited ACN 002 348 352	Unknown	Northern Trust Company	Purchase	Ordinary shares	645	2,551.36	AUD
Monday, 9 July 2018	Commonwealth Bank of Australia ACN 123 123 124	The Bank Of New York Mellon, Sydney Branch	Unknown	Borrow Decrease, Barclays Capital Securities Ltd	Ordinary shares	382,827	N/A	NZD
Monday, 9 July 2018	Realindex Investments Pty Limited ACN 133 312 017	Citibank N A Hong Kong	Unknown	Sale	Ordinary shares	5,551	23,980.32	NZD
Monday, 9 July 2018	Realindex Investments Pty Limited ACN 133 312 017	Citibank N A Hong Kong	Unknown	Sale	Ordinary shares	3,093	12,248.28	AUD
Monday, 9 July 2018	Realindex Investments Pty Limited ACN 133 312 017	Unknown	JPMorgan (UK)	Purchase	Ordinary shares	3,093	12,248.28	AUD

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Appendix B

Barclays Capital Securities Ltd	Barclays Capital Securities Ltd
Type of agreement:	Global Master Securities Lending Agreement
If yes, in which circumstances?	At any time subject to giving notice.
Are there circumstances in which the borrower will not be required to return the securities on settlement? [Yes/No]	No
If yes, in which circumstances?	N/A
Parties to agreement:	(1) Commonwealth Bank of Australia and (2) Barclays Capital Securities Ltd
Can the parties exercise voting rights attaching to the securities?	No
If yes, in what circumstances?	N/A
Date on which the securities were (or are) expected to be delivered to the borrower or its nominee (ie borrow date):	The dates indicated in Annexure B on which securities were borrowed.
Scheduled date (if any) when the securities are expected to be returned to the borrower or its nominee (ie return date):	Any particular day.
Does the borrower have the right to return the securities early? [Yes/No]	Yes
If yes, in which circumstances?	At any time subject to giving notice.
Does the lender have the right to recall the securities early (ie before the scheduled return date)? [Yes/No]	Yes

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