New director appointed to Tower Board

Market Information
NZX Limited
Level 1, NZX Centre
11 Cable Street
Wellington
New Zealand
Company Announcements Office
Australian Securities Exchange Limited
Exchange Centre
Level 6, 20 Bridge Street
Sydney NSW
2000 Australia
16 January 2018
New director appointed to Tower Board

Tower Limited (NZX/ASX: TWR) today announced the appointment of Marcus Nagel as
a non-executive director, effective 14 January 2019.
Mr Nagel was nominated by Bain Capital Credit LP (Bain Capital) to represent Bain
Capital’s stake in Tower (Bain Capital hold 19.99% of Tower’s ordinary shares). His
appointment is supported by the Tower Board, noting his position with Bain Capital as a
Special Advisor, Mr Nagel will not be considered an independent director and Tower’s
Board and Bain Capital have agreed and implemented necessary governance and
confidentiality protocols to protect the interests of all shareholders.
Mr Nagel has significant insurance industry experience having performed senior
leadership roles for Zurich in Europe both in life insurance and general insurance. For
more information on Mr Nagel’s experience, please refer to Tower’s website.
Tower’s Board welcome Mr Nagel’s appointment and believe that his depth of
knowledge and experience will contribute to Tower’s success as a digital challenger
brand.
As Mr Nagel has been appointed to the Tower board to fill a casual vacancy, he will
retire and be available for re-election at the upcoming Annual Shareholder Meeting
scheduled for 19 February 2019, in accordance with the Company’s constitution.

ENDS


David Callanan
Company Secretary
Tower Limited
ARBN 088 481 234
Incorporated in New Zealand
For further information, please contact:
Nicholas Meseldzija
Head of Corporate Communications
Phone: +64 21 531 869
Email: nicholas.meseldzija@tower.co.nz