KMD BRANDS LIMITED — Major Shareholding Notification 2017

Feb 17, 2017

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 NZX Limited

and

To Kathmandu Holdings Limited (KMD)

Date this disclosure made: 17 February 2017

Date on which substantial holding began: 16 February 2017

Substantial product holder(s) giving disclosure

Full name(s): Harbour Asset Management Limited

Summary of substantial holding

Class of quoted voting products: Kathmandu Holdings Limited Ordinary shares (KMD)

Summary for Harbour Asset Management Limited

For this disclosure,—

• (a) total number held in class: 10,268,144

• (b) total in class: 201,484,583

• (c) total percentage held in class: 5.096%

Details of relevant interests

Details for Harbour Asset Management Limited

Nature of relevant interest(s): As fund manager, the power to exercise a right to vote attached to, and power to acquire or dispose of, the products, under powers of investment contained in investment management contracts with clients (the beneficial owners of the products).

For that relevant interest,—

• (a) number held in class: 10,268,144

• (b) percentage held in class: 5.096%

• (c) current registered holder(s): Various nominee companies on behalf of clients as beneficial owners.

(d) registered holder(s) once transfers are registered: Various nominee companies on behalf of clients as beneficial owners.

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Details of transactions and events giving rise to substantial holding

On 4 February 2015, (the date of the previous substantial holding notice), Harbour Asset Management Limited had a relevant interest in 9,031,180 (4.553%) KMD Ordinary Shares. From 4 February 2015 to 16 February 2017, as a result of normal on-market trading activity involving the sale of 9,629,197 ordinary shares for $14,516,400.35 and purchases of 10,866,161 ordinary shares for $20,339,602.48 Harbour Asset Management has increased their relevant interest to 10,268,144 (5.096%) ordinary KMD shares.

Additional information

Address(es) of substantial product holder(s): Harbour Asset Management Limited, Level 16, 171 Featherston Street, Wellington

Contact details: Kate Livingston, + 64 9 307 5747, kate.livingston@fnzc.co.nz

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: None

Certification

I, Kate Livingston, 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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