The Warehouse Group Limited — Capital/Financing Update 2017

Apr 17, 2017

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The Warehouse Group Limited 26 The Warehouse Way Northcote, Auckland PO Box 33470 Takapuna Auckland, New Zealand

phone +64 9 489 7000 fax +64 9 489 7444 web www.twg.co.nz

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Market Information Services Section New Zealand Exchange Limited

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Auckland, 18 April 2017

THE WAREHOUSE GROUP LIMITED

Sale of Newmarket Property

The Warehouse Group is pleased to advise that it has entered into an unconditional contract to sell its Newmarket property in Auckland. The site will continue to be leased and operated by The Warehouse Group until it is to be vacated in October 2018.

Settlement of the property sale is expected to be completed in July 2017. The sale proceeds of $65 million will generate a pre-tax gain of approximately $12 million. The proceeds will be used to reduce debt.

Further details will be included in the Group’s Full Year Result announcement on 22 September 2017.

ENDS

Contact details regarding this announcement:

Mark Yeoman, Group CFO to be contacted via Kim Russell on +64 21 452 860