Special Meeting Result

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5 December 2017

NZX Announcement

Special Meeting Result

Bethunes Investments Limited (NZX:BIL) held its special meeting of shareholders in Auckland today,
with shareholders approving the acquisition of the business of Transport Investments Limited (TIL)
and related transactions.

Current chairman of TIL, Jim Ramsay, said: “We are delighted to be bringing TIL to the public domain,
with the support of Bethunes shareholders. This transaction secures the future of TIL as one of New
Zealand’s leading domestic freight and logistics companies and we are looking forward to taking
advantage of a range of genuine growth opportunities which are available to TIL”.
With effect prior to the commencement of trading on 7 December 2017, Bethunes will change its
name to TIL Logistics Group Limited and its NZX ticker code to TLL.

Completion of the Transactions is expected to occur tomorrow and the existing Bethunes directors
will resign and be replaced by a new board of directors with in-depth industry and governance
experience comprising Jim Ramsay, Trevor Janes, Lorraine Witten, Danny Chan and Greg Kern.

The distribution of shares in BIL 2016 Limited (New BIL) to Bethunes shareholders is also expected to
occur tomorrow based on the previously advised record date of 5pm, 1 December 2017.
Shareholders will receive holding statements from Link Market Services Limited by the end of next
week confirming their New BIL shareholdings.

Voting and Proxy Results
All resolutions set out in the notice of meeting released to NZX on 17 November 2017 were passed
unanimously by a show of hands vote. Details of the votes received by proxy for today’s meeting
accompany this announcement.

ENDS
For further information and media assistance, please contact:

Bethunes Investments Limited Transport Investments Limited
Christopher Swasbrook Jackie Ellis, Media Liaison
Phone: +64 21 928 262 Phone: + 64 27 246 2505
Email: chris.swasbrook@bethunesinvestments.com Email: jackie@ellisandco.co.nz

Transport Investments Limited (TIL)
TIL is one of the largest private domestic freight and logistics businesses in New Zealand, with a
nationwide network of branches, depots and warehouses. TIL’s activities include transporting and
warehousing freight throughout New Zealand and co-ordinating freight movements offshore with
the assistance of international alliances. TIL also has a specialist road tanker division which is one of
the largest operators in the New Zealand fuel delivery market by road tanker.

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ResolutionNo.
For
Against Open
Excluded
Percent
For
1
42,268,066 0
13,485,304 0
75.81%
2
40,268,066 0
13,485,304 2,000,000
74.91%
3
29,506,805 79,523 50,000
26,004,567 99.56%
4
27,839,488 99,315 50,000
26,004,567 99.47%
5
42,248,274 0
13,505,096 0
75.78%
6
42,268,066 0
13,485,304 0
75.81%
Total Number of Shares on Issue: 115,060,279Summary of Proxy Votes