KMD BRANDS LIMITED — Major Shareholding Notification 2018

May 1, 2018

Disclosure of ceasing to have substantial holding

Section 279, Financial Markets Conduct Act 2013

To NZX LIMITED

and To KATHMANDU HOLDINGS LIMITED

Date this disclosure made: 30-Apr-2018 Date last disclosure made: 26-Apr-2018 Date on which substantial holding ceased: 24-Apr-2018

Substantial product holder(s) giving disclosure	Substantial product holder(s) giving disclosure
Full name(s):
Commonwealth	Bank of Australia
Summary of previous substantial holding
Class of quoted voting products:	Ordinary shares
Summary forCommonwealth	Bank of Australia
Forlastdisclosure,—
(a) total number held in class:	11,299,250
(b) total in class:	225,314,819
(c) total percentage held in class:	5.015%
For current holdingafterceasing to have substantial holding,—
(a) total number held in class:	11,247,099
(b) total in class:	225,314,819
(c) total percentage held in class:	4.992%

Details of transactions and events giving rise to ceasing of substantial holding Details of the transactions or other events requiring disclosure:

See Appendix A

Additional information

Address(es) of substantial product holder(s):

• Avanteos Investments Limited ACN 096 259 979, Ground Floor Tower 1, 201 Sussex Street, Sydney, NSW, 2000, Australia

• ASB Group Investments Limited Company Number 533945, Level 2, ASB North Wharf, 12 Jellicoe Street, Auckland, 1010 , New Zealand

• Colonial First State Asset Management (Australia) Limited ACN 114 194 311, Ground Floor Tower 1, 201 Sussex Street, Sydney, NSW, 2000, Australia

• Colonial First State Investments Limited ACN 002 348 352, Ground Floor Tower 1, 201 Sussex Street, Sydney, NSW, 2000, Australia

Realindex Investments Pty Limited ACN 133 312 017, Ground Floor Tower 1, 201 Sussex Street, Sydney, NSW, 2000, Australia

• Commonwealth Bank of Australia, Ground Floor Tower 1, 201 Sussex Street, Sydney, NSW, 2000, Australia

Contact details:

Anitha Subramanian, +61 (0) 457 529 297, AUSR_SM02041@cba.com.au

Nature of connection between substantial product holders:

Commonwealth Bank of Australia is a related body corporate of Avanteos Investments Limited ACN 096 259 979

ASB Group Investments Limited Company Number 533945 Colonial First State Asset Management (Australia) Limited ACN 114 194 311 Colonial First State Investments Limited ACN 002 348 352 Realindex Investments Pty Limited ACN 133 312 017

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:

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[not applicable]

Certification

I, Clare McManus, certify that, to the best of my knowledge and belief, the information contained in this disclosure is correct and that I am duly authorized to make this disclosure by all persons for whom it is made.

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Appendix A

Details of the transactions or other events requiring disclosure:

Date of Transaction	Registered Company	Nature of**Change **	Class	Number ofSecurities	Cash Consideration	Currency
Tuesday,24 April 2018	Citibank N A HongKong	Sale	OrdinaryShares	27,607	70,259.82	NZD
Tuesday,24 April 2018	Citibank N A HongKong	Sale	OrdinaryShares	24,544	62,464.48	NZD

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