Strategic collaboration with The New Zealand Merino Company

MARKET RELEASE
23rd August 2019

Cavalier announces strategic collaboration with The New Zealand Merino Company
Cavalier Corporation Limited (NZX:CAV) has today announced a collaboration with The New Zealand
Merino Company (NZM) as Cavalier looks to develop and implement a transformative and design led
business model focused on connecting consumers with Cavalier’s wool product.

Iconic New Zealand brand Cavalier has more than 50 years of history and in-depth knowledge of the
carpet sector and considers natural wool the optimal choice for carpet design, innovation and
overall performance. In addition to this, consumers around the world are becoming increasingly
environmentally aware and wool is well positioned to capitalise on this movement.

To optimise this opportunity, Cavalier has appointed NZM to assist the company shift to a design led
business that is fit for the next 50 years. The core objective being to enhance Cavalier’s commercial
performance and deliver long term sustainable returns for shareholders.

NZM has a 20 year track record in transforming New Zealand’s sheep industry from producing
commodities to partnering with and supporting the growth of premium brands globally. It has
extensive sales, marketing and innovation expertise, applied through its ZQ ethical wool brand and
has worked closely with leading brand partners including Icebreaker, Smartwool, Loro Piana, Reda
and Allbirds.

CEO of Cavalier, Paul Alston, said: “We are at a pivotal moment in our company’s history. The quality
and craftsmanship of our wool carpets is undeniable and is recognised by customers around the
world. Together with NZM, we will be looking to revitalise the demand for wool carpets as a natural,
more sustainable, healthier alternative to synthetic fibres, further delivering to our ‘world of
difference’ vision.”

CEO of NZM, John Brakenridge, commented: “The tipping point we’ve seen in apparel with
consumers embracing new categories of natural products is a strong signal of broader behaviour
change. We applaud Cavalier’s leadership in making moves to connect consumers with natural
products in a more meaningful way and look forward to building on the strong platform established
by Cavalier to add further value to the New Zealand wool sector.”

ENDS
For further information please contact:
Paul Alston
Chief Executive Officer
palston@cavbrem.co.nz
+64 21 918 033
+64 9 277 1135
John Brakenridge
Chief Executive Officer
The New Zealand Merino
Company
john.brakenridge@nzmerino.co.nz
+64 21 454 607
Jackie Ellis
Media and Investor Relations
Jackie@ellisandco.co.nz
+64 27 246 2505