Tower Limited — Major Shareholding Notification 2021

Apr 18, 2021

Disclosure of ceasing to have substantial holding

Section 279, Financial Markets Conduct Act 2013

To: NZX Limited

and

To: Tower Limited

Date this disclosure made: 16 April 2021

Date last disclosure made: 2 March 2021

Date on which substantial holding ceased: 15 April 2021

Substantial product holder(s) giving disclosure

Full name(s): Westpac Banking Corporation (including the related bodies corporate specified in the Annexure)

Summary of previous substantial holding

Class of quoted voting products: ordinary shares – security code TWR

Summary for Westpac Banking Corporation (including the related bodies corporate specified in the Annexure)

For last disclosure,—

• (a) total number held in class: 23,093,796

• (b) total in class: 421,647,258

• (c) total percentage held in class: 5.48%

For current holding after ceasing to have substantial holding,—

• (a) total number held in class: 20,302,521

• (b) total in class: 421,647,258

• (c) total percentage held in class: 4.82%

Details of transactions and events giving rise to ceasing of substantial holding

Details of the transactions or other events requiring disclosure: Refer Annexure

Additional information

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

Westpac Banking Corporation, Level 18, Westpac Place, 275 Kent Street, Sydney, NSW 2000, Australia

Guardian Nominees No.2 Limited, Level 14, 191 Queen Street, Auckland 1010, New Zealand BT Funds Management (NZ) Limited, 16 Takutai Square, Auckland 1010, New Zealand

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Contact details:

Tim Hartin General Manager & Company Secretary Phone: (+61 2) 9155 7713

Nature of connection between substantial product holders: The entities specified in the Annexure are related bodies corporate of Westpac Banking Corporation.

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: Not applicable

Disclosure has effect for purposes of directors’ and senior managers’ disclosure: Not applicable

Certification

I, Tim Hartin, 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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ANNEXURE 1

DISCLOSURE OF CEASING TO HAVE SUBSTANTIAL HOLDING Westpac Banking Corporation and related bodies corporate DATED 15 April 2021

DATED 15 April 2021Name of type of sharesTower Limited Ordina	DATED 15 April 2021Name of type of sharesTower Limited Ordina	DATED 15 April 2021Name of type of sharesTower Limited Ordina	DATED 15 April 2021Name of type of sharesTower Limited Ordina	ry Shares	ry Shares	ry Shares
	Name of type of shares		Tower Limited Ordina	ry Shares
	Percentage held		4.82%
	Relevant related body	corporate:	Westpac Banking CorVarious unit trusts maManagement (NZ) Lim	porationnaged by BT Fundsited
	Registered holder 1:		Guardian Nominees N	o.2 Limited
	Hli
	odng 1:		20,302,521
	Dates:		Ceasing to have subs2021	antial holding on 15 April
					g p
	Transaction type	Period	Shares		Consideration
	On-market sales	26/02/2021 –	-2,791,275		226401436
					,,.
		15/04/2021

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