TOWER LIMITED — Director's Dealing 2022

Apr 3, 2022

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Ongoing Disclosure Notice

Disclosure of Directors and Senior Managers Relevant Interests Sections 297(2) and 298(2), Financial Markets Conduct Act 2013

To NZX Limited; and Name of listed issuer: Date this disclosure made: Date of last disclosure: Director or senior manager giving disclosure Full name(s): Name of listed issuer: Name of related body corporate (if applicable): Position held in listed issuer:

Tower Limited (NZX: TWR) 4-Apr-22 8-Dec-20 Warren John Lee Tower Limited N/A Director

Summary of acquisition or disposal of relevant interest (excluding specified derivatives)	Summary of acquisition or disposal of relevant interest (excluding specified derivatives)	Summary of acquisition or disposal of relevant interest (excluding specified derivatives)
Class of affected quoted financial products:		Ordinary shares in Tow er Lim it ed
Nature of the affected relevant interest(s):		(1) Warren John Lee - regist ered
		holder and benef icial ow ner of
		ordinary shares
		(2) Paula Elizabet h Darling (a) pow er
		t o cont rol acquisit ion; and (b)
		disposal of shares and pow er t o
		exercise vot es at t ached t o shares
		held in w if e's nam e
For that relevant interest:
Number held in class before acquisition or disposal:		(1) Warren John Lee 5000
		(2) Paula Elizabet h Darling 115,500
Number held in class after acquisition or disposal:		(1) Warren John Lee 4500
		(2) Paula Elizabet h Darling 103,950
Current registered holder(s):		(1) Warren John Lee
		(2) Paula Elizabet h Darling
Registered holder(s)once transfers are registered:		N/A
Summary of acquisition or disposal of specified derivatives relevant interest (if applicable)
Type of affected derivative:		N/A
Class of underlyingfinancialproducts:		N/A
Details of affected derivative:
The notional value of the derivative (if any) or the notional amount of underlying
financialproducts(if any):		N/A
A statement as to whether the derivative is cash settled orphysicallysettled:		N/A
Maturitydate of the derivative(if any):		N/A
Expirydate of the derivative(if any):		N/A
Theprice specified in the terms of the derivative(if any):		N/A
Any other details needed to understand how the amount of the consideration payable
under the derivative or the value of the derivative is affected by the value of the
underlying financial products:		N/A
For that derivative:
Parties to the derivative:		N/A
If the director or senior manager is not a party to the derivative, the nature of the
relevant interest in the derivative:		N/A
Details of transactions giving rise to acquisition or disposal
Total number of transactions to which notice relates:		One

Ordinary shares in Tow er Lim it ed (1) Warren John Lee - regist ered holder and benef icial ow ner of ordinary shares (2) Paula Elizabet h Darling (a) pow er t o cont rol acquisit ion; and (b) disposal of shares and pow er t o exercise vot es at t ached t o shares held in w if e's nam e

Details of transactions requiring disclosure: Date of transaction: Nature of transaction: Name of any other party or parties to the transaction (if known): The consideration, expressed in New Zealand dollars, paid or received for the acquisition or disposal. If the consideration was not in cash and cannot be readily by converted into a cash value, describe the consideration: Number of financial products to which the transaction related: If the issuer has a financial products trading policy that prohibits directors or senior managers from trading during any period without written clearance (a closed period) include the following details— Whether relevant interests were acquired or disposed of during a closed period: Whether prior written clearance was provided to allow the acquisition or disposal to proceed during the closed period: Date of the prior written clearance (if any):

Date of transaction:		9/03/2022
Nature of transaction:		Implementation of Tower Limited's capital return to shareholders whereby the company cancelled 1 share for every 10 shares held on the record date of 8 March 2022
Name of any other party or parties to the transaction (if known):		N/A
The consideration, expressed in New Zealand dollars, paid or received for the acquisition or disposal. If the consideration was not in cash and cannot be readily by converted into a cash value,describe the consideration:		NZ$0.72 per share totalling (1) Warren John Lee NZ$360 (2) Paula Elizabeth Darling NZ$8,316
Number of financialproducts to which the transaction related:		(1) Warren John Lee 500 (2) Paula Elizabeth Darling 11,550
If the issuer has a financial products trading policy that prohibits directors or senior managers from trading during any period without written clearance (a closed period) include the following details—
Whether relevant interests were acquired or disposed of duringa closedperiod:		N/A
Whether prior written clearance was provided to allow the acquisition or disposal to proceed duringthe closedperiod:		N/A
Date of the prior written clearance (if any):		N/A
Summary of other relevant interests after acquisition or disposal:
Class ofquoted financialproducts:		N/A
Nature of relevant interest:		N/A
For that relevant interest:
Number held in class:		N/A
Current registered holder(s):		N/A
For a derivative relevant interest:
Type of derivative:		N/A
Details of derivative:
The notional value of the derivative (if any) or the notional amount of underlying financial products (if any):		N/A
A statement as to whether the derivative is cash settled or physically settled:		N/A
Maturity date of the derivative (if any):		N/A
Expiry date of the derivative (if any):		N/A
The price's specified terms (if any):		N/A
Any other details needed to understand how the amount of the consideration payable under the derivative or the value of the derivative is affected by the value of the underlyingfinancialproducts:		N/A
For that derivative relevant interest:		N/A
Parties to the derivative:		N/A
If the director or senior manager is not a party to the derivative, the nature of the relevant interest in the derivative:		N/A
Certification
I, 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.
Signature of director or officer:
Date of signature:		25-Mar-22
or
Signature of person authorised to sign on behalf of director or officer:
Date of signature:
Name and title of authorisedperson:

Notes

Use this form to disclose all the acquisitions and disposals by a director or senior manager of a listed issuer, or of a related body corporate, or in specified derivatives. The disclosure must be made within—

(a) 20 working days after the first acquisition or disposal disclosed in this notice if the aquisitions or disposals are of a kind referred to in section 297(2)(a) of the Financial Markets Conduct Act 2013; or

(b) in any other case, 5 trading days after the first acquisition or disposal disclosed in this notice.