KMD completes Institutional Entitlement Offer & Placement

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

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Not for release or distribution in the United States

KATHMANDU HOLDINGS LIMITED
ASX / NZX / MEDIA ANNOUNCEMENT

2 April 2020


SUCCESSFUL COMPLETION OF INSTITUTIONAL COMPONENT OF KATHMANDU'S 1.2 FOR 1 FULLY
UNDERWRITTEN PRO-RATA ACCELERATED ENTITLEMENT OFFER AND NZ$30 MILLION PLACEMENT

Kathmandu Holdings Limited (Kathmandu) is pleased to advise that it has successfully completed the
institutional entitlement offer component (Institutional Entitlement Offer) of its fully underwritten 1.2 for 1 pro-
rata accelerated entitlement offer (Entitlement Offer) and its NZ$30 million placement (Placement) as
announced on 1 April 2020. A total of approximately NZ$207 million will be raised under the Entitlement Offer
and Placement.

The Institutional Entitlement Offer and Placement closed on Wednesday, 1 April 2020 and raised combined
gross proceeds of approximately NZ$154 million. Both tranches received strong support from Kathmandu's
existing institutional shareholders. In respect of the Institutional Entitlement Offer, outside of Briscoe Group
which elected not to take up its pro-rata entitlements, eligible institutional shareholders elected to take up 96%
of their entitlements.

Kathmandu's Shares are expected to resume normal trading on the NZX today. Kathmandu understands that
due to ASX’s corporate action system requirements, Kathmandu’s Shares are expected to remain in trading halt
on the ASX until the commencement of normal trading on Friday, 3 April 2020.

The new fully paid ordinary shares in Kathmandu (New Shares) offered under the Institutional Entitlement Offer
and Placement are expected to be allotted and commence trading on NZX and ASX on Thursday, 9 April 2020
and will rank equally with existing fully paid ordinary shares.


Retail Entitlement Offer
The retail component of the Entitlement Offer (Retail Entitlement Offer) will open on Monday, 6 April 2020 and
close at 5.00pm (NZ time) on Friday, 17 April 2020.

Eligible Retail Shareholders with an address shown in Kathmandu’s share register as being in New Zealand or
Australia will be able to subscribe for 1.2 New Shares for every 1 Kathmandu share held on the Record Date,
being 7.00pm (NZ time) on Friday 3 April 2020, at the same application price as the Placement and Institutional
Entitlement Offer of NZ$0.50 per New Share (or the A$ Price of A$0.49 per New Share) (Offer Price).

An offer document (Offer Document) (accompanied by a personalised entitlement and acceptance form) will
be sent to Eligible Retail Shareholders on Monday, 6 April 2020 and is available on the website established for
the Entitlement Offer at www.kathmandushares.com
.

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

We strongly encourage all shareholders to read the available information at www.kathmandushares.com
and if
they wish to apply, to do so online rather than using the postal service during this time.

Eligible Retail Shareholders who have taken up all of their entitlements in full may apply for additional New
Shares at the Offer Price by completing the appropriate section on the entitlement and acceptance form, or as
directed via the online application. Payment must be made for both your entitlements and any additional New
Shares for which you wish to apply.

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

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If you, as an Eligible Retail Shareholder, do not take up your full entitlement under the Retail Entitlement Offer,
then your entitlement will lapse, and you will receive no value for those lapsed entitlements. Further, if you do
not take up your entitlement, you will have your percentage holding in Kathmandu reduced as a result of the
Offer.


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

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

Frances Blundell
Company Secretary
0064 22 648 6035


Note: All capitalised terms not defined in this announcement have the meanings given in Part 5: Glossary of
Kathmandu’s Offer Document dated 1 April 2020.
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.