TOWER LIMITED — Capital/Financing Update 2013

Jul 30, 2013

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31 July 2013

For immediate release

Market Information Company Announcements Office NZX Limited Australian Stock Exchange Limited Level 2, NZX Centre Exchange Centre 11 Cable Street Level 6, 20 Bridge Street Wellington Sydney NSW 2000 NEW ZEALAND AUSTRALIA

TOWER confirms unconditional sale of life business

TOWER Limited is pleased to confirm that all conditions for the sale of most of its life insurance business to Fidelity Life Assurance Company Limited (Fidelity Life) have been satisfied.

TOWER Chief Executive Officer David Hancock said today that arrangements are underway for completing the transaction, with the settlement date to be confirmed within the next few days.

Mr Hancock said TOWER would be working closely with Fidelity Life to ensure a smooth transition for the business over the coming months.

ENDS

For further information, please contact:

David Hancock Chief Executive Officer TOWER Limited Tel: + 64 9 369 2084

ARBN 088 481 234 Incorporated in New Zealand