KMD BRANDS LIMITED — Major Shareholding Notification 2013

Oct 28, 2013

Disclosure of ceasing to have substantial holding

Section 25, Securities Markets Act 1988

To: New Zealand Exchange

And: Kathmandu Holdings Limited

Date this disclosure made: 23 October 2013

Date last disclosure made: 11 July 2013

Substantial security holder(s) giving disclosure

Name(s): Fisher Funds Management Limited

Contact details: Bida Blume, bida@fisherfunds.co.nz, +64 9 487 2639

Date on which substantial security holder(s) ceased to have substantial holding: 23 October 2013

Summary of previous substantial holding to which disclosure relates

Class of listed voting securities: Ordinary Shares

Summary for: Fisher Funds Management Limited

For last disclosure,—

• (a) total number held in class: 10,447,023

• (b) total in class: 200,215,894

• (c) total percentage held in class: 5.22%

For current holding after ceasing to have substantial holding:

• (a) total number held in class: 9,973,823

• (b) total in class: 200,215,894

• (c) total percentage held in class: 4.98%

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

Details of the transactions or other events requiring disclosure under the instructions to this form:

form:
Date of change	Nature of change	Consideration given inrelation to change	Class and number of securitiesaffected	Other party, ifknown
22 July 2013	On Market Sale	$83,802.24	32,000	N/A
28 August 2013	On Market Sale	$294,865.80	100,000	N/A
9 September 2013	On Market Sale	$16,741.17	6,000	N/A
26 September 2013	On Market Sale	$17,920.03	5,200	N/A
14 October 2013	On Market Sale	$715,128.00	200,000	N/A
22 October 2013	On Market Sale	$475,152.76	130,000	N/A

KMD SSH Disclosure 23 Oct 13

Additional information

Nature of connection between substantial security holders: N/A

Address(es) of substantial security holder(s): Fisher Funds Management Limited, Level 1, 67-73 Hurstmere Road, Takapuna, Auckland, New Zealand

Name of any other person believed to have given, or believed to be required to give, a disclosure under the Act in relation to the securities to which this disclosure relates: N/A

Declaration

I, Bida Blume, declare 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.

KMD SSH Disclosure 23 Oct 13