SPH Notice – Perry Corp. and Richard C. Perry

100080615/3821103.1
Disclosure of movement of 1% or more in substantial holding
or change in nature of relevant interest, or both
Sections 277 and 278, Financial Markets Conduct Act 2013
Note: This form must be completed in accordance with the instructions at the end of the
form.
To NZX Limited

And

To Rubicon Limited
Relevant event being disclosed: Notice of a movement of 1% or more in a substantial
holding.
Date of relevant event: 20 July 2018
Date this disclosure made: 23 July 2018
Date last disclosure made: 26 October 2017
Substantial product holder giving disclosure
Full name: Perry Corp. and Richard C. Perry
Summary of substantial holding
Class of quoted voting products: ordinary shares
Summary for Perry Corp. and Richard C. Perry
For this disclosure,—
(a) total number held in class: 34,337,307
(b) total in class: 487,908,343
(c) total percentage held in class: 7.04%
For last disclosure,—
(a) total number held in class: 39,337,307
(b) total in class: 487,908,343
(c) total percentage held in class: 8.06%
Details of transactions and events giving rise to relevant event
Details of the transactions or other events requiring disclosure: On market trade by Perry
Corp on 20 July 2018 of, in aggregate, 5,000,000 ordinary shares in Rubicon Limited (NZX:
RBC) for $1,450,000 in aggregate (being $0.29 per share).

100080615/3821103.1
Details after relevant event

Details for Perry Corp.:
1) Nature of relevant interest(s): Non beneficial interest in securities
Perry Corp. is a New York investment adviser that provides investment management
services to private investment funds. Perry Corp. is managing general partner
and/or investment manager of Perry Partners L.P. and Perry International Master
Inc. ("Funds"). Perry Corp. has power over the acquisition, disposition and voting of
securities held in the Funds, including the Rubicon Shares.
For that relevant interest,—
(a) number held in class: 23,072,180
(b) percentage held in class: 4.73%
(c) current registered holder(s): Perry Partners
International Master, Inc. 16,601,972.00
Perry Partners L.P. 6,470,208.00
Total 23,072,180.00
(d) registered holder(s) once transfers are registered: N/A

Details for Richard Perry:
2) Nature of relevant interest(s): Registered holder and beneficial owner of securities
Richard Perry is the President, sole director, and sole shareholder of Perry Corp.
and has a non-beneficial relevant interest in all Shares held by the Funds, as
described above. By virtue of his position as President, sole director and sole
shareholder of Perry Corp., Richard Perry may be considered indirectly to have
power over the acquisition, disposition and voting of securities held in the Funds.
In addition to a non-beneficial relevant interest in all Shares held by the Funds,
Richard Perry became a direct holder of Shares after he received Rubicon Shares
following the in-kind distribution from the Perry European Funds. For the relevant
interest -
(a) Number held in class: 11,265,127
(b) Percentage held in class: 2.31%
For a derivative relevant interest, also—
(a) type of derivative: N/A

100080615/3821103.1
(b) details of derivative: N/A
(c) parties to the derivative: N/A
(d) if the substantial product holder is not a party to the derivative, the nature of the
relevant interest in the derivative: N/A
Additional information
Address(es) of substantial product holder(s):
c/o Perry Corp.
375 Park Avenue
Suite 3608
New York, NY 10152
Contact details: Richard Perry, President
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, Richard Perry, 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.