SSH – NovaPort Capital Pty Ltd (ACN 140 833 656)

100080615/3821103.1
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
Note: This form must be completed in accordance with the instructions at the end of the
form.
To NZX Limited
and
To Kathmandu Holdings Limited
Relevant event being disclosed: Change of interests of substantial holder
Date of relevant event: 12 January 2017
Date this disclosure made: 17 January 2017
Date last disclosure made: 4 July 2016
Substantial product holder(s) giving disclosure
Full name(s): NovaPort Capital Pty Ltd (ACN 140 833 656)
Summary of substantial holding
Class of quoted voting products: Ordinary Fully Paid Shares in KMD
Summary for NovaPort Capital Pty Ltd:
For this disclosure,—
(a) total number held in class: 12,337,247
(b) total in class: 201,484,583
(c) total percentage held in class: 6.12%
For last disclosure,—
(a) total number held in class: 10,288,463
(b) total in class: 201,484,583
(c) total percentage held in class: 5.11%
Details of transactions and events giving rise to relevant event
Details of the transactions or other events requiring disclosure: purchased and sold on-
market as set out more fully in Annexure 2.

100080615/3821103.1
Details after relevant event
Details for NovaPort Capital Pty Ltd
Nature of relevant interest(s): Non-beneficial owner (pursuant to an investment
management contract) of Ordinary Fully Paid Shares in KMD. A relevant agreement need
not be attached pursuant to regulation 142.
For that relevant interest,—
(a) number held in class: 12,337,247
(b) percentage held in class: 6.12%
(c) current registered holder(s): See Annexure 1
(d) registered holder(s) once transfers are registered: Not applicable
For a derivative relevant interest, also—
(a) type of derivative: N/A
(b) details of derivative: N/A
(c) parties to the derivative: N/A
(d) if the substantial product holder is not a party to the derivative, the nature of the
relevant interest in the derivative: N/A
Additional information
Address(es) of substantial product holder(s): Level 2, 5 Martin Place, Sydney, NSW, 2000
Contact details: Andrew Brown, Company Secretary: abrown@challenger.com.au;
+61 2 9994 7468
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: Challenger Limited and its associated entities is
also giving disclosure in relation to these financial products.

Certification
I, Andrew Brown, 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.

100080615/3821103.1


Annexure 1

Holder of relevant
interest
Registered holder of
securities
Class and number of
securities
NovaPort Capital Pty Ltd BNP Paribas Nominees Pty
Limited
5,034,551 (Ordinary Fully
Paid)
NovaPort Capital Pty Ltd Citicorp Nominees Pty
Limited
3,459,876 (Ordinary Fully
Paid)
NovaPort Capital Pty Ltd J P Morgan Nominees
Australia Limited
3,445,287 (Ordinary Fully
Paid)
NovaPort Capital Pty Ltd National Nominees Limited 397,533 (Ordinary Fully
Paid)

100080615/3821103.1
Annexure 2: Transactions
Transactions:
Company Name: Kathmandu Holdings Limited (KMD)
As at: 12/01/2017
Class of security: Ordinary Fully Paid

Date of
Change
Holder of
relevant
interest
Nature of
Change
Consideration
(NZD)
Number of
Securities
Person's Votes
Affected
05/07/2016
NovaPort
Capital Pty Ltd Buy

3,682.59 2,309

2,309
05/07/2016 as above Buy

6,818.14 4,275

4,275
05/07/2016 as above Buy

9,904.25 6,210

6,210
05/07/2016 as above Buy

717.70 450

450
05/07/2016 as above Buy

3,165.85 1,985

1,985
06/07/2016 as above Buy

49,315.45 30,583

30,583
06/07/2016 as above Buy

91,290.74 56,614

56,614
06/07/2016 as above Buy

132,616.18 82,242

82,242
06/07/2016 as above Buy

9,602.51 5,955

5,955
06/07/2016 as above Buy

42,378.42 26,281

26,281
07/07/2016 as above Buy

32,517.92 20,202

20,202
07/07/2016 as above Buy

60,195.66 37,397

37,397
07/07/2016 as above Buy

87,442.02 54,324

54,324
07/07/2016 as above Buy

6,330.71 3,933

3,933
07/07/2016 as above Buy

27,943.33 17,360

17,360
11/07/2016 as above Buy

1,807.93 1,119

1,119
11/07/2016 as above Buy

3,347.66 2,072

2,072
11/07/2016 as above Buy

4,861.55 3,009

3,009
11/07/2016 as above Buy

352.22 218

218
11/07/2016 as above Buy

1,554.27 962

962
20/09/2016 as above Buy

40,943.76 20,420

20,420
20/09/2016 as above Sell

113,766.37 - 57,092

57,092
21/09/2016 as above Buy

57,490.97 27,956

27,956
20/10/2016 as above Buy

140,835.15 73,385 73,385
20/10/2016 as above Buy

260,705.75 135,846

135,846
20/10/2016 as above Buy

378,716.72 197,338

197,338

100080615/3821103.1
Date of
Change
Holder of
relevant
interest
Nature of
Change
Consideration
(NZD)
Number of
Securities
Person's Votes
Affected
20/10/2016 as above Buy

27,422.41 14,289

14,289
20/10/2016 as above Buy

121,024.00 63,062

63,062
21/10/2016 as above Buy

21,509.94 10,982

10,982
21/10/2016 as above Buy

39,817.48 20,329

20,329
21/10/2016 as above Buy

57,839.05 29,530

29,530
21/10/2016 as above Buy

4,187.60 2,138

2,138
21/10/2016 as above Buy

18,483.82 9,437

9,437
24/10/2016 as above Buy

4,234.68 2,168

2,168
24/10/2016 as above Buy

7,838.45 4,013

4,013
24/10/2016 as above Buy

11,383.62 5,828

5,828
24/10/2016 as above Buy

824.28 422

422
24/10/2016 as above Buy

3,638.93 1,863

1,863
26/10/2016 as above Buy

6,587.05 3,328

3,328
26/10/2016 as above Buy

12,194.36 6,161

6,161
26/10/2016 as above Buy

17,716.55 8,951

8,951
26/10/2016 as above Buy

1,282.58 648

648
26/10/2016 as above Buy

5,660.75 2,860

2,860
27/10/2016 as above Buy

9,040.89 4,583

4,583
27/10/2016 as above Buy

16,734.43 8,483

8,483
27/10/2016 as above Buy

24,309.60 12,323

12,323
27/10/2016 as above Buy

1,759.65 892

892
27/10/2016 as above Buy

7,768.50 3,938

3,938
01/11/2016 as above Buy

3.95 2

2
01/11/2016 as above Buy

7.90 4

4
01/11/2016 as above Buy

9.87 5

5
01/11/2016 as above Buy

3.95 2

2
02/11/2016 as above Buy

25,306.38 13,070

13,070
02/11/2016 as above Buy

46,846.82 24,195

24,195
02/11/2016 as above Buy

68,054.22 35,148

35,148
02/11/2016 as above Buy

4,927.68 2,545

2,545
02/11/2016 as above Buy 11,232

100080615/3821103.1
Date of
Change
Holder of
relevant
interest
Nature of
Change
Consideration
(NZD)
Number of
Securities
Person's Votes
Affected
21,747.61 11,232
04/11/2016 as above Buy

9.70 5

5
04/11/2016 as above Buy

19.40 10

10
04/11/2016 as above Buy

29.10 15

15
04/11/2016 as above Buy

1.94 1

1
04/11/2016 as above Buy

9.70 5

5
16/11/2016 as above Buy

134.97 72

72
16/11/2016 as above Buy

249.31 133

133
16/11/2016 as above Buy

361.78 193

193
16/11/2016 as above Buy

26.24 14

14
16/11/2016 as above Buy

116.22 62

62
17/11/2016 as above Buy

187.08 100

100
17/11/2016 as above Buy

346.09 185

185
17/11/2016 as above Buy

503.24 269

269
17/11/2016 as above Buy

35.54 19

19
17/11/2016 as above Buy

160.89 86

86
18/11/2016 as above Buy

69,086.71 38,706

38,706
18/11/2016 as above Buy

127,890.55 71,651

71,651
18/11/2016 as above Buy

185,784.10 104,086

104,086
18/11/2016 as above Buy

13,452.86 7,537

7,537
18/11/2016 as above Buy

59,367.88 33,261

33,261
21/11/2016 as above Buy

22,504.89 12,546

12,546
21/11/2016 as above Buy

41,658.98 23,224

23,224
21/11/2016 as above Buy

60,517.10 33,737

33,737
21/11/2016 as above Buy

4,382.23 2,443

2,443
21/11/2016 as above Buy

19,338.85 10,781

10,781
22/11/2016 as above Buy

10,919.66 5,904

5,904
22/11/2016 as above Buy

20,213.56 10,929

10,929
22/11/2016 as above Buy

29,365.06 15,877

15,877
22/11/2016 as above Buy

2,126.96 1,150

1,150
22/11/2016 as above Buy

9,382.69 5,073

5,073

100080615/3821103.1
Date of
Change
Holder of
relevant
interest
Nature of
Change
Consideration
(NZD)
Number of
Securities
Person's Votes
Affected
23/11/2016 as above Buy

40,488.80 21,985

21,985
23/11/2016 as above Buy

74,951.71 40,698

40,698
23/11/2016 as above Buy

108,878.68 59,120

59,120
23/11/2016 as above Buy

7,884.13 4,281

4,281
23/11/2016 as above Buy

34,792.56 18,892

18,892
24/11/2016 as above Buy

43,727.79 23,692

23,692
24/11/2016 as above Buy

80,947.72 43,858

43,858
24/11/2016 as above Buy

117,589.96 63,711

63,711
24/11/2016 as above Buy

8,514.11 4,613

4,613
24/11/2016 as above Buy

37,576.14 20,359

20,359
25/11/2016 as above Buy

30,002.53 16,236

16,236
25/11/2016 as above Buy

55,540.54 30,056

30,056
25/11/2016 as above Buy

80,683.08 43,662

43,662
25/11/2016 as above Buy

5,841.22 3,161

3,161
25/11/2016 as above Buy

25,783.77 13,953

13,953
28/11/2016 as above Buy

1,310.38 705

705
28/11/2016 as above Buy

2,425.58 1,305

1,305
28/11/2016 as above Buy

3,524.06 1,896

1,896
28/11/2016 as above Buy

254.64 137

137
28/11/2016 as above Buy

1,126.36 606

606
10/01/2017 as above Buy

39,774.84 21,112

21,112
10/01/2017 as above Buy

8,306.52 4,409

4,409
10/01/2017 as above Buy

33,633.03 17,852

17,852
10/01/2017 as above Buy

12,564.35 6,669

6,669
11/01/2017 as above Buy

28,814.77 15,194

15,194
11/01/2017 as above Buy

6,017.45 3,173

3,173
11/01/2017 as above Buy

24,365.69 12,848

12,848
11/01/2017 as above Buy

9,102.99 4,800

4,800
12/01/2017 as above Buy

90,828.18 48,070

48,070
12/01/2017 as above Buy

18,970.56 10,040

10,040
12/01/2017 as above Buy 76,804.32 40,648 40,648

100080615/3821103.1
Date of
Change
Holder of
relevant
interest
Nature of
Change
Consideration
(NZD)
Number of
Securities
Person's Votes
Affected
12/01/2017 as above Buy

28,692.03 15,185

15,185



Total Number of Securities 2,048,784