TREASURY WINE ESTATES LIMITED — Director's Dealing 2018

Sep 16, 2018

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17 September 2018

Company Announcements Office ASX Limited 20 Bridge Street SYDNEY NSW 2000

Via: Online Lodgment

Change of Director’s Interest Notice – Michael Clarke

The Appendix 3Y released today relates to changes in the relevant interest in the Company’s securities held by the Chief Executive Officer of Treasury Wine Estates Limited (TWE), Michael Clarke.

Mr Clarke was allocated a relevant interest in 68,494 ordinary shares in TWE which are held subject to restriction pursuant to the terms of the F18 Short Term Incentive Plan. In addition, 76,644 ordinary shares were released from restriction pursuant to the terms of the F16 Short Term Incentive Plan and F17 Short Term Incentive Plan and are held as ordinary shares.

Following these transactions Mr Clarke has increased his relevant interest in the Company’s securities to 942,817 ordinary shares and continues to hold a relevant interest in 966,488 performance rights. Further details are provided in the Appendix 3Y.

Yours sincerely

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Fiona Last Company Secretary

Note: shares granted to Mr Clarke under the Company’s employee equity program are subject to income tax in the relevant tax year at vesting and therefore Mr Clarke may sell further Company shares in order to meet impending tax obligations.

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