Notification of Acquisition of Securities

6 May 2019

NOTIFICATION OF ACQUISITION OF SECURITIES – ORDINARY SHARES

For the purposes of Listing Rule 7.12.1 of the NZX Main Board/Debt Market Listing Rules, The New
Zealand Refining Company Limited (NZR) advises that the following securities have been acquired:

a Class of security Ordinary Shares
ISIN NZNZRE0001S9
b Number acquired 134,706
c Acquisition price $2.0987
d Payment Cash
e Amount paid up Fully paid up ordinary shares
f Principle terms of securities N/A
g Percentage of class of securities 0.04%
h Reason for acquisition Ordinary shares were acquired to be held by CRS
Nominees Limited pending grant to employees
under NZR’s Employee Share Purchase Scheme
i Authority for acquisition Resolution of the Board and Listing Rule 7.6.1(a)
j Terms of acquisition Shares to be held on trust for participants in the
Employee Share Purchase Scheme pending transfer
to them on expiry of the vesting period and subject
to the employee’s continued employment

k Total number of ordinary shares in
existence after the acquisition
312,576,453
l Treasury stock N/A
m Date acquired 6 May 2019

Yours faithfully,


D.M. Jensen
Chief Financial Officer/ Company Secretary