Ongoing Disclosure Notices – Senior Managers

Ongoing Disclosure Notice
Disclosure of Directors and Senior Managers Relevant Interests
Sections 297(2) and 298(2), Financial Markets Conduct Act 2013
To NZX Limited; and
Name of listed issuer: Cavalier Corporation Limited
Date this disclosure made:6 January 2021
Date of last disclosure: 18 December 2017
Director or senior manager giving disclosure
Full name(s):Victor Thien Soo Tan
Name of listed issuer:Cavalier Corporation Limited
Name of related body corporate (if applicable):Not applicable
Position held in listed issuer:
Chief Financial Officer and Company
Secretary
Summary of acquisition or disposal of relevant interest (excluding specified derivatives)
Class of affected quoted financial products:
Performance right by Cavalier
Corporation Limited which will
convert into a number of equity
securities as described below
Nature of the affected relevant interest(s):Beneficial
For that relevant interest-
Number held in class before acquisition or disposal:Nil
Number held in class after acquisition or disposal:
The number of quoted equity
securities which will be issued on
conversion of the performance right
is unknown at the time of issue of the
performance right, but will not,
together with all other performance
rights issued at the same time,
exceed the 3% threshold under
listing rule 4.6.1(c).
Current registered holder(s):Not applicable
Registered holder(s) once transfers are registered:Not applicable
Summary of acquisition or disposal of specified derivatives relevant interest (if applicable)
Type of affected derivative: Not applicable
Class of underlying financial products:Not applicable
Details of affected derivative-
The notional value of the derivative (if any) or the notional amount of underlying
financial products (if any):
Not applicable
A statement as to whether the derivative is cash settled or physically settled:Not applicable
Maturity date of the derivative (if any):Not applicable
Expiry date of the derivative(if any):Not applicable
The price specified in the terms of the derivative (if any):Not applicable
Any other details needed to understand how the amount of the consideration payable
under the derivative or the value of the derivative is affected by the value of the
underlying financial products:
Not applicable
For that derivative,-
Parties to the derivative: Not applicable
If the director or senior manager is not a party to the derivative, the nature of the
relevant interest in the derivative:
Not applicable

Details of transactions giving rise to acquisition or disposal
Total number of transactions to which notice relates: One
Details of transactions requiring disclosure-
Date of transaction:24 December 2020
Nature of transaction:
Issue of performance right by
Cavalier Corporation Limited which
will convert into a number of equity
securities as described below
Name of any other party or parties to the transaction (if known):Not applicable
The consideration, expressed in New Zealand dollars, paid or received for the
acquisition or disposal. If the consideration was not in cash and cannot be readily by
converted into a cash value, describe the consideration:
Not applicable
Number of financial products to which the transaction related:
The number of quoted equity
securities which will be issued on
conversion of the performance right
is unknown at the time of issue of the
performance right, but will not,
together with all other performance
rights issued at the same time,
exceed the 3% threshold under
listing rule 4.6.1(c).
If the issuer has a financial products trading policy that prohibits directors or senior
managers from trading during any period without written clearance (a closed period)
include the following details—
Whether relevant interests were acquired or disposed of during a closed period:No
Whether prior written clearance was provided to allow the acquisition or disposal to
proceed during the closed period:
Not applicable
Date of the prior written clearance (if any):Not applicable
Summary of other relevant interests after acquisition or disposal:
Class of quoted financial products:Ordinary shares
Nature of relevant interest:
Registered holder of ordinary shares.
Victor Tan is a trustee and
discretionary beneficiary of the JVT
Family Trust.
For that relevant interest,-
Number held in class:167,479
Current registered holder(s):
Victor Thien Soo Tan, Jacintha Tan
and Wayne Keung Chung (JVT
Family Account)
For a derivative relevant interest,-
Type of derivative:Not applicable
Summary of other relevant interests after acquisition or disposal:
Class of quoted financial products:Ordinary shares
Nature of relevant interest:
Registered holder of ordinary shares.
Victor Tan is a trustee of the CWC
Family Trust.
For that relevant interest,-
Number held in class:82,082
Current registered holder(s):
Wayne Keung Chung, Colleen Linda
Chung and Victor Thien Soo Tan
(CWC Family Account)
For a derivative relevant interest,-
Type of derivative:Not applicable

Details of derivative,-
The notional value of the derivative (if any) or the notional amount of underlying
financial products (if any):
Not applicable
A statement as to whether the derivative is cash settled or physically settled:Not applicable
Maturity date of the derivative (if any):Not applicable
Expiry date of the derivative (if any):Not applicable
The price's specified terms (if any):Not applicable
Any other details needed to understand how the amount of the consideration payable
under the derivative or the value of the derivative is affected by the value of the
underlying financial products:
Not applicable
For that derivative relevant interest,-
Not applicable
Parties to the derivative: Not applicable
If the director or senior manager is not a party to the derivative, the nature of the
relevant interest in the derivative:
Not applicable
Certification
I, certify that, to the best of my knowledge and belief, the information contained in this
disclosure is correct and that I am duly authorised to make this disclosure by all
persons for whom it is made.
Signature of director or officer:
Date of signature:
6 January 2021
or
Signature of person authorised to sign on behalf of director or officer:
Date of signature:
Name and title of authorised person:

Notes
Use this form to disclose all the acquisitions and disposals by a director or senior
manager of a listed issuer, or of a related body corporate, or in specified derivatives.
The disclosure must be made within—
(a) 20 working days after the first acquisition or disposal disclosed in this
notice if the acquisitions or disposals are of a kind referred to in section 297(2)(a) of
the Financial Markets Conduct Act 2013; or
(b) in any other case, 5 trading days after the first acquisition or disposal
disclosed in this notice.