CDI: Retirement and Appointment of Non-Executive Directors

Level 13, 280 Centre, 280 Queen Street,
P. O. Box 3248, Auckland 1140, New Zealand
Ph (09) 353 5077 Fax (09) 309 3244 Email: admin@cdli.co.nz

STOCK EXCHANGE ANNOUNCEMENT 30 December 2019

CHANGES TO THE BOARD OF CDL INVESTMENTS NEW ZEALAND LIMITED


CDL Investments New Zealand Limited (NZX:CDI) advises that Mr. Tan Kian Seng will
resign as a director of the company effective from 31 December 2019 following his
retirement from the Millennium & Copthorne Hotels group. The company thanks him for his
service and wishes him well in his well-deserved retirement.

CDI advises that the Board has appointed Mr. Kwek Eik Sheng as a non-executive Director
to the Board with effect from 1 January 2020.

Mr. Kwek is currently the Group Chief Strategy Officer of City Developments Limited (“CDL”)
and has been in that role since 2018. Mr. Kwek joined CDL in 2009, covering Business
Development for overseas projects before being appointed as Head of Corporate
Development. He assumed his role as Chief Strategy Officer in 2014 and was additionally
appointed Head, Asset Management in April 2016. Prior to joining CDL, he was with the
Hong Leong Group of companies in Singapore specialising in corporate finance roles since
2006.

He is also Executive Director of Millennium & Copthorne Hotels Limited, previously listed on
the London Stock Exchange as Millennium & Copthorne Hotels plc. He holds a Bachelor of
Engineering in Electrical and Electronics Engineering from Imperial College of Science,
Technology and Medicine and a Master of Philosophy in Finance from Judge Business
School, Cambridge University.

The Board has determined in accordance with NZX Listing Rules that Mr. Kwek is not an
independent director.


ENDS

Enquiries:

Takeshi Ito (09) 353 5005
Company Secretary
CDL Investments New Zealand Limited