Broker Handling Fee on Kingfish Warrants

3 April 2017


BROKER HANDLING FEE ON KINGFISH WARRANTS



Kingfish Limited (“Kingfish” or “the company”) would like to advise brokers that it offers a broker
handling fee in respect of the exercise of Kingfish warrants (“KFLWD”).

The exercise date is 5 May 2017 and the exercise price is $1.21.

Kingfish recognises there is an administration cost and time involved in the warrant exercise process
for brokers and, as such, pays brokers 0.4% of the total consideration payable for warrants exercised
per beneficial holder.

The company would also like to remind brokers that it has a long-term quarterly dividend policy
whereby it pays 2% of average net asset value each quarter. All shares allotted upon the exercise of
warrants on 5 May 2017 will be eligible for all future dividend payments.



Yours sincerely

On behalf of the Board,

Glenn Ashwell
Corporate Manager
Kingfish Limited














Kingfish Limited
Phone +64 9 489 7094
Fax +64 9 489 7139
Private Bag 93502
Takapuna, Auckland

Process:
If an advisor recommends the exercise of Kingfish warrants and the holder agrees to exercise their
warrants, the advisor will:

1. For individual clients (who are registered holders of warrants), request that they complete an
exercise form, attach a cheque/direct credit funds into advisor firm bank account and send it to
the advisor. The advisor will stamp the warrant exercise form with the broker stamp, add the
advisor’s code and forward the document and payment to Computershare by the exercise date.

Alternatively, for ease of administration, the advisor may request the client to handwrite the
advisor firm’s name and advisor’s code in the “broker’s stamp” box on the warrant exercise form
and send it directly to Computershare with the payment. If the broker’s stamp is not completed
fully, Computershare will code the form as “None”, meaning no brokerage fee will be calculated
for that form.

2. For clients in a custodial/nominee account, collate and summarise the information on clients
electing to exercise their warrants through the advisor firm’s internal processes and complete
one warrant exercise form per registered holder, stamp the broker’s stamp box and add the
advisor’s code. This and the associated payment are to be forwarded to Computershare by the
exercise date.

3. Advisors can arrange with Computershare to direct credit funds to the Computershare bank
account using a unique deposit reference.

4. Computershare will process the warrant exercise forms and payments and allot shares following
close-off within three business days after the exercise date. The company may (but is not obliged
to) extend the close-off date taking into account late receipt of exercise forms (postmarked on or
before the exercise date).

5. Computershare will record the brokerage against the forms accepted. If the box is not completed
fully or accurately, Computershare will code the form “None” for brokerage fee calculation
purposes.

6. Following approval by Kingfish, total broker fees payable will be credited to Computershare’s
bank account. Computershare will pay the fee to the advisor firm’s head office. A brokerage
calculation report will be provided with remittance of payment advice (usually paid by direct
credit, or by cheque) which shows advisor code and address, underlying registered holder
application acceptance detail and brokerage calculated. Fee payments are expected to take place
around 10 working days following receipt of the signed broker report.

7. Any queries relating to the remittance of broker’s fees to be directed to Computershare. If the
coding as processed by Computershare is correct (i.e. matches the form), they will not enter into
any disputes that may arise with brokers.