KMD BRANDS LIMITED — Capital/Financing Update 2013

Oct 10, 2013

11 October 2013

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To: NZX Limited

And to: Company Announcements Office Australian Securities Exchange Limited

KATHMANDU HOLDINGS LIMITED OPTION PLAN - Vesting of Options

Kathmandu Holdings Limited (“Kathmandu”) today announced the vesting of 956,403 unlisted options issued under Kathmandu’s Employee Option Plan adopted in October 2009 (“Plan”).

Following testing of the total shareholder return hurdle in accordance with the terms of the Plan, Kathmandu has determined that the hurdle has been passed and the 956,403 unlisted options issued under the Plan (“Options”) have now vested and are exercisable.

The Options may be exercised in accordance with the terms of the Plan at any time prior to 5.00pm 18 November 2014.

This notice is given for the purposes of NZX Listing Rule 7.12.8 and ASX Listing Rule 3.10.7. Notice for the purposes of NZX Listing Rule 7.12.8 has also been given to the relevant employees. That notice includes a statement to the effect that if an option holder has any doubt as to whether converting their options to shares is desirable, the option holder should seek advice from his or her broker or financial adviser.

Mark Todd

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Company Secretary Kathmandu Holdings Limited

Kathmandu Holdings Ltd

249 Park Street, South Melbourne, Victoria 3205 PO Box 984, South Melbourne, Victoria 3205, Australia Phone: +61 3 9267 9999 Fax: +61 3 9267 9933 kathmandu.com.au

11 Mary Muller Drive, Heathcote 8022 PO Box 1234, Christchurch 8140, New Zealand Phone: +64 3 373 6110 Fax: +64 3 373 6116 kathmandu.co.nz