SPH Notice – Eugene Williams

1
Disclosure of movement of 1% or more in substantial holding
or change in nature of relevant interest, or both
Sections 277 and 278, Financial Markets Conduct Act 2013
To NZX Limited (NZX)
and
To NZ Automotive Investments Limited (NZAI)
Relevant event being disclosed: Movement of 1% or more in the substantial holding(s)
Date of relevant event: 17 September 2021
Date this disclosure made: 17 September 2021
Date last disclosure made: 25 February 2021
Substantial product holder(s) giving disclosure
Full name(s): Eugene Williams and TLR Williams Trustee Company Limited (as trustees of
the E & Co Trust) (together, the Williams Trustees)
Summary of substantial holding
Class of quoted voting products: Ordinary shares in NZAI (NZX Code: NZA)
Summary for the Williams Trustees
For this disclosure,—
(a) total number held in class: 28,103,924
(b) total in class: 45,554,500
(c) total percentage held in class: 61.693%
For last disclosure,—
(a) total number held in class: 32,418,250
(b) total in class: 45,554,500
(c) total percentage held in class: 71.164%

Details of transactions and events giving rise to relevant event - 1
Details of the transactions or other events requiring disclosure: Aggregated on and off
market sales by the Williams Trustees of 4,306,319 ordinary shares in NZAI, for total
consideration of $4,018,684.45, made as follows:

2
Date
Description of
Transaction
Price
Number of
Shares sold
Total
Consideration
Aggregated
trades greater
than 4 months
ago between
12 Mar 2021
and 26 Mar
2021
On Market
Trades.
Transferees are
unknown.
Ranging
between $1.26
and $1.17
8,006 $9,805.61
1 Jun 2021
On Market
Trades.
Transferees are
unknown.
$1.14 7,715 $8,795.10
2 Jun 2021
On Market
Trades.
Transferees are
unknown.
$1.11 6,489 $7,202.94
3 Jun 2021
On Market
Trades.
Transferees are
unknown.
$1.10 23,429 $25,771.90
4 Jun 2021
On Market
Trades.
Transferees are
unknown.
$1.10 2,367 $2,603.70
6 Jul 2021
On Market
Trades.
Transferees are
unknown.
$1.10 25,083 $27,601.30
17 Sep 2021
Off Market sell
down.
Transferees are
unknown.
$0.93 4,233,230 $3,936,903.90
Totals 4,306,319 $4,018,684.45

Details after relevant event - 1
Details for the Williams Trustees
Nature of relevant interest: The Williams Trustees are joint registered holders of
16,608,681 ordinary shares in NZAI. Eugene Williams is also a beneficial owner of those
jointly held shares.

3
For that relevant interest,—
(a) number held in class: 16,608,681
(b) percentage held in class: 36.459%
(c) current registered holder(s): Eugene Williams and TLR Williams Trustee Company
Limited
(d) registered holder(s) once transfers are registered: Unknown
For a derivative relevant interest, also—
(a) type of derivative: Not applicable
(b) details of derivative: Not applicable
(c) parties to the derivative: Not applicable
(d) if the substantial product holder is not a party to the derivative, the nature of the
relevant interest in the derivative: Not applicable
Details of transactions and events giving rise to relevant event - 2
Details of the transactions or other events requiring disclosure: Aggregated on and off
market sales by David (Yusuke) Sena and TLR (Sena) Trustee Service No.2 Limited as
trustees of the Sena Family Trust (the Sena Trustees) of 8,007 ordinary shares in NZAI,
for total consideration of $9,806.83, made as follows:
Date
Description of
Transaction
Price
Number of
Shares sold
Total
Consideration

Aggregated
trades greater
than 4 months
ago between
12 Mar 2021
and 26 Mar
2021
On Market
Trades.
Transferees are
unknown.
Ranging
between $1.26
and $1.17
8,007 $9,806.83

Details after relevant event - 2
Details for the Williams Trustees
Nature of relevant interest: The Williams Trustees have a relevant interest in shares held
by the Sena Trustees which are subject to trading arrangements agreed in the Sale
Process Deed dated 15 February 2021 (Sale Process Deed) entered into between the
parties (a copy of the Sale Process Deed is attached to the substantial product holder
notice for the Williams Trustees dated 25 February 2021). Those trading arrangements
affect the shares held by the Williams Trustees and the Sena Trustees, respectively, which
are not subject to, or are to be released from, the escrow obligations committed to by the
Williams Trustees and the Sena Trustees upon NZAI’s listing on NZX. The Sena Trustees
have disposed of 8007 of those shares.

4
For that relevant interest,—
(a) number held in class: 11,495,243
(b) percentage held in class: 25.234%
(c) current registered holder(s): David (Yusuke) Sena and TLR (Sena) Trustee Service
No. 2 Limited
(d) registered holder(s) once transfers are registered: Unknown
For a derivative relevant interest, also—
(a) type of derivative: Not applicable
(b) details of derivative: Not applicable
(c) parties to the derivative: Not applicable
(d) if the substantial product holder is not a party to the derivative, the nature of the
relevant interest in the derivative: Not applicable
Additional information
Address(es) of substantial product holder(s): Level 4, 4 Graham Street, Auckland, 1010,
New Zealand
Contact details: Eugene Williams | +64 0273831070 | eugene@2cheapcars.co.nz

Nature of connection between substantial product holders: The Williams Trustees are joint
registered holders of ordinary shares in NZAI. Eugene Williams is also a beneficial owner
of these jointly held shares.
Name of any other person believed to have given, or believed to be required to give, a
disclosure under the Financial Markets Conduct Act 2013 in relation to the financial
products to which this disclosure relates: Sena Trustees and Tracy Rowsell
Disclosure has effect for purposes of directors’ and senior managers’ disclosure
Eugene Williams is also a director of NZAI. This disclosure also constitutes disclosure for
the purposes of the directors’ and senior managers’ disclosure obligations.
Certification
I, Eugene Williams, 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.