Kathmandu completes Institutional Entitlement Offer

Kathmandu Holdings Ltd
223 Tuam Street, Christchurch 8011 249 Park Street, South Melbourne, Victoria 3205
PO Box 1234, Christchurch 8140, New Zealand PO Box 984, South Melbourne, Victoria 3205, Australia
Phone: +64 3 373 6110 Fax: +64 3 373 6116 Phone: +61 3 9267 9999 Fax: +61 3 9267 9933
kathmanduholdings.com

Not for release or distribution in the United States

KATHMANDU HOLDINGS LIMITED
ASX / NZX / MEDIA ANNOUNCEMENT

3 October 2019


SUCCESSFUL COMPLETION OF THE INSTITUTIONAL ENTITLEMENT COMPONENT OF
KATHMANDU'S 1 FOR 4 FULLY UNDERWRITTEN PRO-RATA ACCELERATED
ENTITLEMENT OFFER – 88% TAKE-UP BY ELIGIBLE INSTITUTIONAL SHAREHOLDERS

Kathmandu Holdings Limited (the Company) is pleased to advise that it has successfully completed the
institutional entitlement offer component (Institutional Entitlement Offer) of its fully underwritten 1 for 4 pro-
rata accelerated entitlement offer (Offer) of new fully paid ordinary shares in Kathmandu (New Shares)
announced on 1 October 2019. A total of NZ$145 million will be raised under the Offer.

The Institutional Entitlement Offer closed on Wednesday 2 October 2019 and raised gross proceeds of
approximately NZ$96 million. The Institutional Entitlement offer received strong support from Kathmandu's
eligible institutional shareholders electing to take up 88% of their entitlements under the Institutional
Entitlement Offer and 92% of eligible institutional shareholders took up their entitlements in full.

The New Shares taken up by eligible institutional shareholders under the Institutional Entitlement Offer are
expected to be allotted and commence trading on NZX on Friday 11 October 2019 and will rank equally with
existing fully paid ordinary shares of Kathmandu (Shares).

Institutional bookbuild
A bookbuild for entitlements not taken up under the Institutional Entitlement Offer (Institutional Bookbuild)

will close today, Thursday 3 October 2019.

Retail entitlement offer
The retail component of the Offer (Retail Entitlement Offer) will open on Friday 4 October 2019 and close at
5.00pm (NZ time) on Monday 21 October 2019.

Eligible Retail Shareholders with an address shown in the Company’s share register as being in New Zealand
or Australia will be able to subscribe for 1 New Share for every 4 Shares held on the Record Date, being
8.00pm (NZ time) on Thursday 3 October 2019, at the same application price as the Institutional Entitlement
Offer of NZ$2.55 per New Share (or the A$ Price of A$2.37 per New Share).

An offer document (Offer Document) (accompanied by a personalised entitlement and acceptance form) will
be sent to Eligible Retail Shareholders on Friday 4 October 2019 and is available on the website established
for the Offer at www.kathmandushares.com.

Eligible Retail Shareholders wishing to acquire New Shares under the Retail Entitlement Offer will need to
complete their personalised entitlement and acceptance form or complete an online application (via the
website noted above). Eligible Retail Shareholders may choose to take up their entitlements in whole, in part
or not at all.

New Shares not taken up by Eligible Retail Shareholders under the Retail Entitlement Offer, and those which
would otherwise have been offered to Ineligible Retail Shareholders, will be offered for subscription to Eligible
Retail Shareholders who have taken up all of their Entitlements in full and selected Institutional Investors
through a Retail Bookbuild scheduled for Wednesday 23 October 2019.

Retail Shareholders who do not take up their entitlements under the Retail Entitlement Offer or who are
ineligible to participate in the Retail Entitlement Offer will receive a pro-rata share of any positive difference
between the retail bookbuild price and the application price for New Shares under the Offer of NZ$2.55 per

Kathmandu Holdings Ltd
223 Tuam Street, Christchurch 8011 249 Park Street, South Melbourne, Victoria 3205
PO Box 1234, Christchurch 8140, New Zealand PO Box 984, South Melbourne, Victoria 3205, Australia
Phone: +64 3 373 6110 Fax: +64 3 373 6116 Phone: +61 3 9267 9999 Fax: +61 3 9267 9933
kathmanduholdings.com
New Share. However, there is no guarantee that any value will be received from the Retail Bookbuild by
Eligible Retail Shareholders who do not take up their full entitlement or Ineligible Retail Shareholders.

Further information
Shareholders who have any questions about the Offer are encouraged to read the Offer Document and seek
financial, investment or other professional advice from a qualified professional adviser.

Kathmandu's Shares will continue in trading halt on NZX and ASX until an announcement containing the
results of the Institutional Bookbuild is made, which is expected to occur before market open on Friday 4
October 2019.

For more information on the content of this announcement please contact:

Corporate
Xavier Simonet
Chief Executive Officer
P: +61 41 821 5175

Investors
Eric Kuret
Market Eye
P: +61 417 311 335
E: eric.kuret@marketeye.com.au

Reuben Casey
Chief Operating Officer
P: +64 27 272 7573


Chris Kinraid
Chief Financial Officer
P: +64 21 390 669
Media
Helen McCombie
Citadel-MAGNUS
P: + 61 2 8234 0103



Note: All capitalised terms used in this announcement have the meanings given in Part 4:
Glossary of Kathmandu’s Offer Document dated 1 October.
This announcement has been prepared for publication in Australia and New Zealand
and is not for distribution or release in the United States. This announcement does not
constitute an offer to sell, or the solicitation of an offer to buy, any securities in the
United States. Any securities described in this announcement have not been, and will
not be, registered under the US Securities Act of 1933, as amended, or the securities
laws of any state or other jurisdiction of the United States, and may not be offered or
sold in the United States except in transactions exempt from, or not subject to,
registration under the US Securities Act and applicable US state securities laws.