KMD BRANDS LIMITED — Major Shareholding Notification 2017

Apr 12, 2017

Disclosure of movement of 1% or more in substantial holding or change in nature of relevant interest, or both

Sections 277 and 278, 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)

Relevant event being disclosed: Disclosure of movement of 1% or more in substantial holding

Date of relevant event: 11 April 2017

Date this disclosure made: 13 April 2017

Date last disclosure made: 17 February 2017

Substantial product holder(s) giving disclosure

Full name(s): Harbour Asset Management Limited

Summary of substantial holding

Class of quoted voting products: KMD Ordinary Shares

Summary for: Harbour Asset Management Limited

For this disclosure,—

• (a) total number held in class: 12,374,372

• (b) total in class: 201,497,120

• (c) total percentage held in class: 6.141%

• For last 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 transactions and events giving rise to relevant event

Details of the transactions or other events requiring disclosure: As noted above, on 17 February 2017, Harbour Asset Management Limited, disclosed an interest in 10,268,144 (5.096%) KMD ordinary shares.

On 11 April 2017, Harbour Asset Management Limited held 12,269,735 KMD Ordinary Shares (6.089%) and First NZ Capital Securities Limited held 104,637 (0.052) KMD

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ordinary shares, a total relevant interest held by First NZ Capital Group Limited of 12,374,372 (6.141%) KMD ordinary shares.

Between 16 February 2017 and 11 April 2017, as a result of normal on market trading activity, Harbour Asset Management Limited, purchased 2,001,591 KMD ordinary shares for a total consideration of $3,985,417.33. During this period, as a result of normal on market trading First NZ Capital Securities Limited purchased a net position of 104,637 KMD ordinary shares.

Details after relevant event

Details for: Harbour Asset Management Limited

Nature of relevant interest(s): Harbour Asset Management Limited, 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: 12,269,735

• (b) percentage held in class: 6.089%

• (c) current registered holder(s): 12,269,735 – Various nominee companies on behalf of clients as beneficial owners.

Additional information

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

Contact details: Helen Stevens, + 64 4 474 4430, helen.stevens@fnzc.co.nz

Nature of connection between substantial product holders: First NZ Capital Group Limited, First NZ Capital Securities and Harbour Asset Management Limited are related bodies corporate.

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, Helen Stevens, 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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