TOWER LIMITED — Director's Dealing 2025

May 22, 2025

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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

ToNZX Limited; and
Name of listed issuer:		Tower Limited (NZX: TWR)
Date this disclosure made:		23/5/2025
Date of last disclosure:		1/04/2025
Director or senior managergiving disclosure
Full name(s):		Blair McLaren Turnbull
Name of listed issuer:		Tower Limited
Name of related body corporate (if applicable):		N/A
Position held in listed issuer:		FormerChief Executive Officer
Summary of acquisition or disposal of relevant interest (excluding specified derivatives) Class of affected quoted financial products: OrdinaryShares Nature of the affected relevant interest(s): (1) Regist ered holder and benef icial ow ner (2)Benef icial Ow ner
Class of affected quoted financial products:		OrdinaryShares
Nature of the affected relevant interest(s):		(1) Regist ered holder and benef icial ow ner (2)Benef icial Ow ner
For that relevant interest-
Number held in class before acquisition or disposal:		1,243,051/ 3,193
Number held in class after acquisition or disposal:
Current registered holder(s):		~~(1) Blair McLaren Turnbull~~ (2) Sharesies Nom inee Lim it ed on behalf of Blair Turnbull
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
		N/A
		N/A
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: If the director or senior manager is not a party to the derivative, the nature of the relevantinterestinthe derivative:
Parties to the derivative:		N/A
If the director or senior manager is not a party to the derivative, the nature of the relevantinterestinthe derivative:		N/A
Details of transactions giving rise to acquisition or disposal
Total numberoftransactions towhich noticerelates:		15

Details of transactions requiring disclosure-

Date oftransaction:		20/05/2025;22/05/2025
Nature of transaction:		Sale
Name ofany otherparty orparties to the transaction(if known):		Unknown, on-market trades
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:		Total consideration of $428,256.78. See attached sheet for details of each transaction.
Numberof financialproducts towhichthe transaction related:		Total number of shares sold 290,000. See attached sheet for details of transaction.
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 relevantinterestswere acquired ordisposed ofduring a closed period:		No.
Whether prior written clearance was provided to allow the acquisition or disposal to proceed duringthe closedperiod:		N/A
Date of theprior written clearance (if any):		N/A
Summary of other relevant interests after acquisition or disposal: Class ofquotedfinancialproducts: Nature of relevantinterest: For that relevant interest,- Number heldinclass: Currentregisteredholder(s): For a derivative relevant interest,- Type ofderivative: Details of derivative,-
		N/A
		N/A
		N/A
		N/A
		N/A
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: or Signature of person authorised to sign on behalf of director or officer:
		23-May-25
Signature of person authorised to sign on behalf of director or officer:

Date of signature: Name and title of authorised person:

Sales of shares in Tower Limited by Blair Turnbull, Former CEO, as registered holder and beneficial owner

Sale dates	Other	Number of	Consideration per	Total consideration
	party/purchaser	ordinary shares	share sold
				NZ$
		sold
			NZ$
20 May 2025	Unknown	4,131	1.5100	6,207.81
20 May 2025	Unknown	9,948	1.5100	15,008.96
20 May 2025	Unknown	200	1.5100	301.40
20 May 2025	Unknown	9,762	1.5100	14,711.14
20 May 2025	Unknown	20	1.5000	29.94
20 May 2025	Unknown	1,356	1.4750	1,996.10
20 May 2025	Unknown	4	1.4750	5.88
20 May 2025	Unknown	170,000	1.4750	250,318.05
20 May 2025	Unknown	4,579	1.4750	6,743.90
22 May 2025	Unknown	3,105	1.48	4,565.40
22 May 2025	Unknown	6,000	1.48	8,880.00
22 May 2025	Unknown	10,000	1.48	14,773.45
22 May 2025	Unknown	460	1.48	679.44
22 May 2025	Unknown	37,345	1.48	55,160.06
22 May 2025	Unknown	33,090	1.48	48,875.22