KMD BRANDS LIMITED — Major Shareholding Notification 2016

Jul 3, 2016

Disclosure of ceasIng to have substantial holding

Section 279, Finandal Markets Conduct Act 2013

Note, This form must be completed In accordance with the Instructions at the end of the form.

To NZX

and To Kathmandu Holdings NPV

Date this disclosure made: 04 July 2016

Date last disclosure made: 07 December 2015

Date on which substantial holding ceased: 30 June 2016

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Full name(s): New Zealand Superannuation Fund Nominees Umited as nominee for the New Zealand Superannuation Fund being property of Her Majesty the Queen in right of New Zealand and managed by the Guardians of New Zealand Superannuation

Summary of previous substant|al holding Class of quoted voting products: Ordinary Shares, ISIN: NZKMDE000153

Summary for: New Zealand Superannuation Fund Nominees Limited = nominee for the New Zealand Superannuation Fund being property of Her Malesty the Queen In right of New Zealand and managed by the Guardians of New Zealand Superannuation

For hit disclosure,-

• (a) total number held In dass: 10,109,714
• (b) total In class: 201,484,583

(c) total percentage held In class: 5.018% (Note relevant Interests held by Managers = follows: New Zealand Superannuation Fund (4.563%), Mint Asset Management (0.455%)

For current holding after ce=ing to have substantial holding,-

• (a) total number held In da=: 9,193,384
• (b) total In class: 201,484,583

(c) total percentage held In class: 4.56396 (Note relevant Interests held by Managers = New Zealand Superannuation Fund (4.563%))

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Details of the transactions or other events requiring disclosure: Mint Asset Management sold 1,115,880 shares on 30 June 2016.

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NTAC:4UC-11

Addlelli I.hil-de.

Address(es) of substantial product holder(s): Level 12, Zurich House, 21 Queen Street Auckland 1010, New Zealand

Contact details: Peter Bennie Ph: +64 9 300 6980 E-mall: obarinlaanmunarfund.ce.ri

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: N/A

Certmcate.

I, Peter le...4 certify that, to the best of my knowledge and belief, the Information contained In this disclosure ¹⁸ correct and that I am duly authorlied to make this disclosure by all persons for whom It h made.

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