TOWER LIMITED — Major Shareholding Notification 2024

Oct 17, 2024

Disclosure of movement of 1% or more in substantial holding or change in nature of relevant interest, or both

Sections 277 and 278, Financial Markets Conduct Act 2013

To NZX Limited and To Tower Limited

Relevant event being disclosed:

Date of relevant event: 16 October 2024

Date this disclosure made: 18 October 2024

Date last disclosure made: 26 July 2024

Substantial product holder(s) giving disclosure

Full name(s): Salt Funds Management Limited

Summary of substantial holding

Class of quoted voting products: Tower Limited Ordinary Shares (TWR)

Summary for Salt Funds Management Limited

For this disclosure,—

• (a) total number held in class: 21,916,572

• (b) total in class: 379,483,987

• (c) total percentage held in class: 5.775%

For last disclosure,—

• (a) total number held in class: 26,454,673

• (b) total in class: 379,483,987

• (c) total percentage held in class: 6.971%

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Details of transactions and events giving rise to relevant event

Transaction Type	Period	Shares/Units	Consideration
On-market purchases	30/07/2024 – 17/09/2024	593,180	$(659,754.13)
On-market sales	09/05/2022 – 24/07/2024	(5,131,821)	+$5,869,285.38

Details after relevant event

Details for Salt Funds Management Limited

Nature of relevant interest(s): Investment Manager

For that relevant interest,—

• (a) total number held in class: 21,916,572

• (b) total in class: 379,483,987

• (c) total percentage held in class: 5.775%

• (d) registered holder(s) once transfers are registered: See Annexure 1.

Additional information

Address(es) of substantial product holder(s): Level 3, The Imperial Buildings, 44 Queen Street, Auckland 1050

Contact details:

Claire MacRae, Telephone: 09 869 2933, Email: claire.macrae@saltfunds.co.nz

Name of any other person believed to have given, or believed to be required to give, a disclosure under the Financial Markets Conduct Act 2013 in relation to the financial products to which this disclosure relates: Not applicable.

Certification

I, Claire MacRae, 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.

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ANNEXURE 1

SUBSTANTIAL SECURITY HOLDER NOTICE FROM SALT FUNDS MANAGEMENT LTD

DATED 18 October 2024

Name of type of shares	Tower Limited Ordinary Shares
Percentage held	5.775%
Registered holder:	Guardian Nominees No.2 Ltd (as custodian for BT Funds Management (NZ) Ltd)
Holding:	9,012,520 (2.375%)
Registered holder:	National Nominees Ltd (as custodian for Salt Investment Funds Ltd)
Holding:	12,904,052 (3.400%)

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