Update on Lake Ohau fire claims

12 October 2020

Market Information Company Announcements Office
NZX Limited ASX Limited
Level 1, NZX Centre Exchange Centre
11 Cable Street Level 6, 20 Bridge Street
Wellington Sydney NSW 2000
New Zealand Australia

Update on Lake Ōhau fire claims

Tower Limited (NZX/ASX: TWR) said today that while they are still working through the
early stages, the financial impact of the recent Lake Ōhau fire on Tower’s 2021 Financial
Year is estimated to be between $5 and $7 million before tax.

“Our thoughts are with everyone in the community who have been impacted by these fires
and we will do everything we can to support them to rebuild their homes and community,”
said Blair Turnbull, Tower’s Chief Executive Officer.

“We have had a team of people on the ground in Lake Ōhau providing support for our
customers, helping to lodge claims and gaining an understanding of the extent of the
damage.”

While it is only in the early stages, Tower has currently received 5 total loss claims and 4
partial damage claims as a result of the Lake Ōhau fire, and based on analysis to date,
estimates the financial impact on Tower’s 2021 financial results will be between $5 and $7
million before tax.

Tower’s 2020 Financial Year ended on 30 September 2020, and this event does not impact
the company’s 2020 Financial Year results, due for announcement on 25 November 2020.


ENDS

This announcement is authorised by the CEO.

Blair Turnbull
Chief Executive Officer
Tower Limited
ARBN 088 481 234 Incorporated in New Zealand

For media queries, please contact:
Nicholas Meseldzija
Head of Corporate Affairs and Reputation
Mobile: +64 21 531 869
Email: Nicholas.meseldzija@tower.co.nz