SSH – BP New Zealand Holdings Limited, Europa Oil NZ Ltd

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Disclosure of movement of 1% or more in substantial holding
Section 277, Financial Markets Conduct Act 2013
To NZX Limited
and
To The New Zealand Refining Company Limited
Relevant event being disclosed: movement of 1% or more in the substantial holding
Date of relevant event: 21 March 2017
Date this disclosure made: 21 March 2017
Date last disclosure made: 17 March 2017
Substantial product holders giving disclosure
Full names: BP New Zealand Holdings Limited, Europa Oil NZ Limited
Summary of substantial holding
Class of quoted voting products: Ordinary Shares (NZX code: NZR)
Summary for BP New Zealand Holdings Limited and Europa Oil NZ Limited
For this disclosure,—
(a) total number held in class: 31,572,640 Ordinary Shares
(b) total in class: 312,576,453 Ordinary Shares
(c) total percentage held in class: 10.101%
For last disclosure,—
(a) total number held in class: 66,240,021 Ordinary Shares
(b) total in class: 312,576,453 Ordinary Shares
(c) total percentage held in class: 21.192%
Details of transactions and events giving rise to relevant event
Details of the transactions or other events requiring disclosure: On 16 March 2017, BP New
Zealand Holdings Limited and Europa Oil NZ Limited entered into a block trade agreement
with Deutsche Craigs Limited (attached to the disclosure dated 17 March 2017), in
accordance with which BP New Zealand Holdings Limited agreed to sell 10,667,367
Ordinary Shares, and Europa Oil NZ Limited agreed to sell 24,000,014 Ordinary Shares
(being its entire holding), in the New Zealand Refining Company Limited to investors.
The sale of the above Ordinary Shares was effected on 17 March 2017, at a sale price of
NZ$2.32 per Ordinary Share for aggregate gross consideration of NZ$80,428,323.92, with
settlement occurring on 21 March 2017.

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Details after relevant event
Details for BP New Zealand Holdings Limited
Nature of relevant interest: BP New Zealand Holdings Limited is the registered holder and
beneficial owner of 31,572,640 Ordinary Shares
For that relevant interest,—
(a) number held in class: 31,572,640 Ordinary Shares
(b) percentage held in class: 10.101%
(c) current registered holder: BP New Zealand Holdings Limited
(d) registered holders once transfers are registered: N/A
Details for Europa Oil NZ Limited
Nature of relevant interest: BP New Zealand Holdings Limited is the registered holder and
beneficial owner of 31,572,640 Ordinary Shares. As a wholly-owned subsidiary of BP New
Zealand Holdings Limited, Europa Oil NZ Limited has a relevant interest in those Ordinary
Shares only under section 237(d) of the Financial Markets Conduct Act 2013
For that relevant interest,—
(a) number held in class: 31,572,640 Ordinary Shares
(b) percentage held in class: 10.101%
(c) current registered holder: BP New Zealand Holdings Limited
(d) registered holders once transfers are registered: N/A
Additional information
Addresses of substantial product holders: Watercare House, 73 Remuera Road,
Newmarket, Auckland, 1050, New Zealand
Contact details: Rachael Lynch, Phone: +64 21 893 884, Email: rachael.lynch@bp.com
Nature of connection between substantial product holders: Europa Oil NZ Limited is a
wholly-owned subsidiary of BP New Zealand Holdings Limited
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: N/A
Certification
I, Rachael Lynch, 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.