TOWER LIMITED — Earnings Release 2022

Nov 22, 2022

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23 November 2023

Company Announcements Office ASX Limited Exchange Centre Level 6, 20 Bridge Street Sydney NSW 2000 Australia

TOWER Limited | Supplementary Results announcement

Tower releases to the ASX its results announcement, released on the NZX this morning.

ENDS

This announcement has been authorised by Tower CEO, Blair Turnbull.

For media enquiries, please contact in the first instance: Emily Davies Head of Corporate Affairs and Sustainability Tower Limited Mobile: +64 21 815 149

Email: emily.davies@tower.co.nz

Tower Limited 136 Fanshawe Street, PO Box 90347, Auckland 1142, New Zealand Freephone: 0800 808 808 Calling from overseas: +64 9 369 2000 tower.co.nz

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Results for announcement to the market
Name of issuer Tower Limited
Reporting Period 12 months to 30 September 2022
Previous Reporting Period 12 months to 30 September 2021
Currency NZD
Amount (000s) Percentage change
Revenue from continuing $441,522 5%
operations
Total Revenue $452,254 5%
Net profit/(loss) from $17,622 -1%
continuing operations
Total net profit/(loss) $18,803 1%
Interim/Final Dividend
Amount per Quoted Equity 4.0 cents
Security
Imputed amount per Quoted N/A
Equity Security
Record Date 18 January 2023
Dividend Payment Date 1 February 2023
Current period Prior comparable period
Net tangible assets per $ 0.55 $ 0.57
Quoted Equity Security
A brief explanation of any of Revenues increased 5% year-on-year through growth in both
the figures above necessary premium and customer numbers and retention rates improving,
to enable the figures to be partly offset by a one-off provision for customer remediation.
understood
Total net profit attributed to shareholders increased by 1% year-
on-year as a result of an increase in revenue and improved
operating margins which were offset by additional strengthening
of the residual Canterbury earthquake provision and a one-off
provision for customer remediation.
Please refer to the 2022 annual results presentation for further
information.
Authority for this announcement
Name of person authorised
Tania Pearson, General Counsel & Company Secretary
to make this announcement
Contact person for this
Emily Davies, Head of Corporate Affairs and Sustainability
announcement
Contact phone number +64 21 815 149
Contact email address emily.davies@tower.co.nz
Date of release through MAP 23 November 2022
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Audited financial statements accompany this announcement.