TOWER LIMITED — Board/Management Information 2014

Nov 4, 2014

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5 November 2014

Market Information Company Announcements Office NZX Limited Australian Securities Exchange Limited Level 2, NZX Centre Exchange Centre 11 Cable Street Level 6, 20 Bridge Street Wellington Sydney NSW 2000 New Zealand Australia

TOWER announces new appointment to Executive Leadership team

TOWER Chief Executive Officer David Hancock has today advised of a new appointment to the company’s Executive Leadership team, reflecting TOWER’s direction as a customer-focused general insurer.

Glenys Talivai has been appointed into a new role as General Manager Strategy and Performance, which will report directly to Mr Hancock and sit on TOWER’s Executive Leadership team.

Ms Talivai joins TOWER from Medical Assurance Society, where she holds the role of GM Sales and Marketing. She is also Deputy Chair of the New Zealand Institute of Management and has held a number of leadership roles within the financial services sector. She will start with TOWER on 20 November 2014.

The new Strategy and Performance division has been established to provide an integrated approach to the development of strategy, the delivery of strategic initiatives, the ongoing improvement of business processes and the development of a high performance culture. The division comprises of strategic analysis, business process improvement, people and performance, and enterprise project management functions.

“TOWER is committed to becoming the leading light in New Zealand general insurance. We look forward to welcoming Glenys to TOWER and believe her skills and competencies will well complement our strong leadership team,” said Mr Hancock.

ENDS

David Hancock Chief Executive Officer TOWER Limited ARBN 088 481 234 Incorporated in New Zealand

For further information, please contact: Tracey Palmer Head of Corporate Communications Mobile: +64 21 837 860 Email: tracey.palmer@tower.co.nz