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: 21 May 2018
Date on which substantial
holding began:
18 May 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:
3,420,110

(b) total in
class:
68,089,931

041898866/2178860.1
(c) total
percentage
held in class:
5.023%

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 beneficial
owners of the products).
For that
relevant
interest -
number held in
class:
418,462 3,001,648

percentage
held in class:
0.615%

4.408%
current
registered
holder of
financial
products:
First NZ Capital Securities
Limited
Unknown + various
nominee companies on
behalf of clients as
beneficial owners.

041898866/2178860.1
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 18 May 2018, Harbour Asset Management Limited,
on behalf of clients as beneficial owners, holds 3,001,648
ordinary shares in ERD. Since the last disclosure on 1 May
2018, Harbour Asset Management Limited, on behalf of
clients and in the ordinary course of business has not
purchased or sold any ERD ordinary shares.
As at 18 May 2018, First NZ Capital Securities Limited, in
the ordinary course of daily trading activity, holds 418,462
ordinary shares in ERD. Since the last disclosure on 1 May
2018, First NZ Capital Securities Limited, in the ordinary
course of trading activity purchased 60,880 ERD ordinary
shares for a gross consideration of $228,744 and sold
31,669 ERD ordinary shares for a gross consideration of
$113,167.



Additional information

041898866/2178860.1
Address(es) of substantial
product holder(s):
Level 14, 171 Featherston Street, Wellington
Contact details:
Helen Stevens, + 64 4 474 4430,
helen.stevens@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, Helen Stevens, 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.