Tower Limited — Share Issue/Capital Change 2019

Oct 22, 2019

Capital Change Notice

Section 1: Issuer information
Name of issuer	Tower Limited
NZX ticker code	TWR
Class of financial product	Ordinary shares
ISIN (If unknown, check on NZX website)	NZTWRE0011S2
Currency	NZ$
Section 2: Capital change details
Number issued
Nominal value (if any)	Not applicable
Issue price per security	NZ$0.56
Nature of the payment (for example, cash or otherconsideration)	Cash
Amount paid up (if not in full)	Paid in full
Percentage of total class of Financial Products issued(calculated on the number of Financial Products of the Class,excluding any Treasury Stock, in existence)	25%
For an issue of Convertible Financial Products or Options, theprincipal terms of Conversion (for example the Conversionprice and Conversion date and the ranking of the FinancialProduct in relation to other Classes of Financial Product) or theOption (for example, the exercise price and exercise date)	Not applicable
Reason for issue and specific authority for issue (the reasonfor change must be identified here)	Allotment under a pro ratarenounceable rights issueconducted by Tower Limited
Total number of Financial Products of the Class after the issue(excluding Treasury Stock) and the total number of FinancialProducts of the Class held as Treasury Stock after the issue	421,647,258No treasury stock
In the case of an acquisition of shares, whether those sharesare to be held as treasury stock	Not applicable
Specific authority for the issue, acquisition, or redemption,including a reference to the rule pursuant to which the issue,acquisition, or redemption is made	Directors’ resolution dated 20September 2019 for issueunder rule 4.3.1(a)
Terms or details of the issue, acquisition, or redemption (forexample: restrictions, escrow arrangements)	New ordinary shares whichrank equally with all other fullypaid ordinary shares
Date of issue	23/10/2019

Section 3: Authority for this announcement and contact person
Name of person authorised to make this announcement	Hannah Snelling
Contact person for this announcement	Hannah Snelling
Contact phone number	+64 9 985 1566
Contact email address	hannah.snelling@tower.co.nz
Date of release through MAP	23/10/2019