SPH Notice – First NZ Capital Group Limited

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 Kathmandu Holdings Limited (KMD)
Relevant event being disclosed: Disclosure of movement of 1% or more in substantial
holding
Date of relevant event: 30 October 2018
Date this disclosure made: 31 October 2018
Date last disclosure made: 12 July 2018
Substantial product holder(s) giving disclosure
Full name(s): First NZ Capital Group Limited
Summary of substantial holding
Class of quoted voting products: KMD Ordinary Shares
Summary for: Harbour Asset Management Limited and First NZ Capital Securities Limited
For this disclosure,—
(a) total number held in class: 25,827,259
(b) total in class: 225,781,068
(c) total percentage held in class: 11.439%%
For last disclosure,—
(a) total number held in class: 23,504,333
(b) total in class: 225,314,819
(c) total percentage held in class: 10.432%
Details of transactions and events giving rise to relevant event
Details of the transactions or other events requiring disclosure:
As noted above, on 12 July 2018, First NZ Capital Group Limited, disclosed an interest in
23,504,333 (10.432%) KMD ordinary shares.

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In the period from the last disclosure, as part of normal on-market trading activity under
discretionary investment mandates, Harbour Asset Management Limited purchased
2,885,361 KMD ordinary shares for a gross consideration of $8,258,611.10 and sold
809,899 KMD ordinary shares for a gross consideration of $2,571,812.67. As a result, of
these transactions, Harbour Asset Management Limited has, at the date of this notice, a
relevant interest in 25,579,795 (11.329%) KMD ordinary shares.
In the period from the last disclosure, as part of normal on-market trading First NZ Capital
Securities Limited purchased 12,469,300 KMD ordinary shares for a gross consideration of
$35,507,964.15 and sold 12,221,836 KMD ordinary shares for a total gross consideration
of $34,860,546.37. As a result of these transactions, First NZ Capital Securities Limited
has, at the date of this notice, a relevant interest in 247,464 KMD (0.109%) ordinary
shares.
As a result of these transactions, First NZ Capital Group Limited (which includes the related
body corporates Harbour Asset Management Limited and First NZ Capital Securities
Limited) has, at the date of this notice, a relevant interest in 25,827,259 (11.439%) KMD
ordinary shares.
Details after relevant event
Details for: Harbour Asset Management Limited
Nature of relevant interest(s): Harbour Asset Management Limited, 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,—
(a) number held in class: 25,579,795
(b) percentage held in class: 11.329%
(c) current registered holder(s): Various nominee companies on behalf of clients as
beneficial owners.
(d) registered holder(s) once transfers are registered: Various nominee companies on
behalf of clients as beneficial owners.
No relevant agreement needs to be attached under Regulation 139.
Details for: First NZ Capital Securities Limited
Nature of relevant interest(s): Beneficial owner of financial products
For that relevant interest,—
(a) number held in class: 247,464
(b) percentage held in class: 0.109%
(c) current registered holder(s): First NZ Capital Securities Limited

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(d) registered holder(s) once transfers are registered: n/a
No relevant agreement needs to be attached under Regulation 139.

Additional information
Address(es) of substantial product holder(s): Level 14, 171 Featherston Street, Wellington
Contact details: Liz Down, + 64 4 474 4430, liz.down@fnzc.co.nz
Nature of connection between substantial product holders: First NZ Capital Group Limited,
First NZ Capital Securities 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, Liz Down, 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.