Tower Limited — Capital/Financing Update 2019

Sep 24, 2019

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QUOTATION NOTICE: NZX MAIN BOARD TOWER LIMITED - RENOUNCEABLE RIGHTS (“TWRRD”)

Company: Tower Limited (“TWR”)

Tradeable Rights Code: TWRRD

ISIN:

NZTWRE0007S0

Details of Offer:

A pro-rata renounceable rights issue of 1 new share for every 4 shares held on the Record Date

Ratio (New : Existing):

1 : 4

Exercise Price:

$0.56 per share

Issue Price Payable:

In full on application

Ex Rights Date:

Rights Commence Trading:

Record Date:

Letters of Entitlement sent to Shareholders:

Tuesday, 1 October 2019 Tuesday, 1 October 2019 Wednesday, 2 October 2019 Thursday, 3 October 2019

Offer Opens:

Thursday, 3 October 2019

Offer Closes:

Tuesday, 15 October 2019

Rights Quotation Ceases:

Wednesday, 9 October 2019

Allotment of New Shares:

Registrar:

Settlement Status:

Wednesday, 23 October 2019 Computershare Investor Services Limited (“RMLT”) NZCDC Settlement System

Commencement of Trading of New Wednesday, 23 October 2019 Shares:

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Mark Peterson Chief Executive Officer NZX Limited

24 September 2019

NZX Limited, Level 1, NZX Centre, 11 Cable Street, PO Box 2959, Wellington 6140, New Zealand Tel +64 4 472 7599, www.nzx.com