TOWER LIMITED — Share Issue/Capital Change 2017

Dec 19, 2017

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20 December 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

NZX Main Board and Debt Market - Notice pursuant to Listing Rule 7.12.1

• (a) Class of Security: ISIN:

Ordinary shares NZTWRE0011S2

• (b) Number issued:

168,662,150

• (c) Issue price:

NZ$0.42 per share (A$0.39 per share)

• (d) Whether payment was in cash:

Payable in cash

• (e) Any amount paid up:

Fully paid

• (f) Principal terms of the Securities

The shares have identical rights, privileges, limitations and conditions as, and rank equally with, the existing ordinary shares

• (g) Percentage of the total Class of Securities issued, acquired or redeemed:

100% of the total number of shares on issue immediately prior to the issue of the new shares

• (h) Reason for the issue, acquisition or redemption:

Allotment pursuant to renounceable rights offer of 1 new share for every 1 share held as at 7.00 pm 22 November 2017 (record date)

• (i) Specific authority for the issue, acquisition or redemption:

Board resolutions dated 13 November 2017

• (j) Terms or details of the issue, acquisition or redemption:

The new shares will rank equally in all respects with existing ordinary shares

• (k) Total number of Securities of the Class in existence after the issue:

• 337,324,300

• (l) In the case of an acquisition of shares by an Issuer which is a company registered under the Companies Act 1993, whether those shares are to be held as Treasury Stock:

Not applicable

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20 December 2017

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(m) Dates of issue, acquisition or redemption:

ENDS

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

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

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