TOWER LIMITED — M&A Activity 2017

Jul 10, 2017

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11 July 2017

Market Information NZX Limited Level 1, NZX Centre 11 Cable Street Wellington New Zealand

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

TOWER APPOINTS INDEPENDENT ADVISER TO ASSESS VERO SCHEME OF ARRANGEMENT

Tower Limited (NZX/ASX:TWR) has appointed Northington Partners to prepare an Independent Adviser’s Report on the proposed acquisition by Vero Insurance New Zealand Limited of all shares in Tower it does not already own, for $1.40 per share by a Scheme of Arrangement under Part 15 of the Companies Act 1993 (Scheme).

The Scheme is conditional on, amongst other things, Commerce Commission clearance. The Commerce Commission has advised that its decision date on the clearance is 26 July 2017.

ENDS

TOWER Michael Stiassny Chairman Tower Limited ARBN 088 481 234 Incorporated in New Zealand

For media enquiries, please contact: Nicholas Meseldzija Tower Limited Head of Corporate Communications Mobile: +64 21 531 869 Email: nicholas.meseldzija@tower.co.nz

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