SPH Notice – First NZ Capital Group Limited

041898866/2178860.1
Disclosure of beginning to have substantial holding
Section 276, Financial Markets Conduct Act 2013

To NZX Limited
and
To EROAD Limited (ERD)
Date this disclosure made: 6 April 2018
Date on which substantial
holding began:
27 March 2018

Substantial product holder(s) giving disclosure
Full name(s): First NZ Capital Group Limited

Summary of substantial holding
Class of quoted voting
products:
Ordinary shares
Summary for: Harbour Asset Management Limited and First NZ Capital
Securities Limited
For this
disclosure -
(a) total
number held
in class:
3,430,697

(b) total in
class:
68,089,931
(c) total
percentage
held in class:
5.038%

Details of relevant interests

Details for: First NZ Capital Securities
Limited
Harbour Asset
Management Limited
Nature of relevant
interest(s):
Beneficial owner of
financial products
As fund manager, the
power to exercise a right to
vote attached to, and
power to acquire or
dispose of, the products,
under powers of
investment contained in
investment management
contracts with clients (the

041898866/2178860.1
beneficial owners of the
products).
For that
relevant
interest -
number held
in class:
370,399 3,060,298

percentage
held in class:
0.544%

4.494%
current
registered
holder of
financial
products:
First NZ Capital Securities
Limited
Unknown + various
nominee companies on
behalf of clients as
beneficial owners.
registered
holder of
financial
products once
transfer is
registered:
First NZ Capital Securities
Limited


No relevant agreement
needs to be attached under
regulation 139.

Various nominee
companies on behalf of
clients as beneficial
owners.
No relevant agreement
needs to be attached under
regulation 139.



Details of transactions and events giving rise to relevant event
Details of the transactions
or other events requiring
disclosure:
As at 27 March 2018, Harbour Asset Management
Limited, on behalf of clients as beneficial owners, holds
3,060,298 ordinary shares in ERD. During the 4 months
prior to 27 March 2018 Harbour Asset Management
Limited, on behalf of clients and in the ordinary course of
business purchased 3,152,498 ERD ordinary shares for a
gross consideration of 10,855,747 and sold 92,200 ERD
ordinary shares for a gross consideration of 328,566.
As at 27 March 2018, First NZ Capital Securities Limited,
in the ordinary course of daily trading activity, holds
370,399 ordinary shares in ERD. During the 4 months
prior to 27 March 2018 First NZ Capital Securities
Limited, in the ordinary course of trading activity
purchased 3,011,347 ERD ordinary shares for a gross
consideration of $9,944,402 and sold 2,985,448 ERD
ordinary shares for a gross consideration of $9,869,344.



Additional information
Address(es) of substantial
product holder(s):
Level 14, 171 Featherston Street, Wellington

041898866/2178860.1
Contact details:
Kate Livingston, + 64 9 307 5747,
kate.livingston@fnzc.co.nz
Nature of connection
between substantial product
holders:
First NZ Capital Group Limited, First NZ Capital Securities
Limited and Harbour Asset Management Limited are
related bodies corporate.

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: none.
Certification
I, Kate Livingston, 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.