SPH Notice – David Sena

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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): David (Yusuke) Sena and TLR (Sena) Trustee Service No.2 Limited (as
trustees of the Sena Family Trust) (together, the Sena Trustees)
Summary of substantial holding
Class of quoted voting products: Ordinary shares in NZAI (NZX Code: NZA)
Summary for the Sena 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 market
sales by the Sena Trustees of 8,007 ordinary shares in NZAI, for total consideration of
$9,806.83, made as follows:

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Date
Description of
Transaction
Price
Number of
Shares sold
Total
Consideration
Aggregated
trades greater
than 4 months
ago between
12 Mar 21 and
26 Mar 21
On Market Trade.
Transferees are
unknown.
Ranging
between $1.26
and $1.17
8,007 $9,806.83

Details after relevant event - 1
Details for the Sena Trustees
Nature of relevant interest: The Sena Trustees are joint registered holders of 20,906,993
ordinary shares in NZAI. David (Yusuke) Sena is also a beneficial owner of those jointly
held shares.
For that relevant interest,—
(a) number held in class: 20,906,993
(b) percentage held in class: 45.894%
(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
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 Eugene Williams and TLR Williams Trustee Company Limited (as trustees
of the E & Co Trust (the Williams Trustees) of 4,306,319 ordinary shares in NZAI, for
total consideration of $4,018,684.45, made as follows:

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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 - 2
Details for the Sena Trustees
Nature of relevant interest: The Sena Trustees have a relevant interest in shares held by
the Williams 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 Sena Trustees dated 25 February 2021). Those trading arrangements affect

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the shares held by the Sena Trustees and the Williams Trustees, respectively, which are
not subject to, or are to be released from, the escrow obligations committed to by the
Sena Trustees and the Williams Trustees upon NZAI’s listing on NZX. The Williams Trustees
have disposed of 4,306,319 of those shares.
For that relevant interest,—
(a) number held in class: 7,196,931
(b) percentage held in class: 15.799%
(c) current registered holder(s): Eugene Williams and TLR Williams Trustee Company
Limited (as trustees of the E & Co Trust
(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: David (Yusuke) Sena | +64 02245680| david@2cheapcars.co.nz
Nature of connection between substantial product holders: The Sena Trustees are joint
registered holders of ordinary shares in NZAI. David (Yusuke) Sena 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: Williams Trustees and Tracy Rowsell
Disclosure has effect for purposes of directors’ and senior managers’ disclosure
David (Yusuke) Sena is also a director of NZAI. This disclosure also constitutes disclosure
for the purposes of the directors’ and senior managers’ disclosure obligations.
Certification
I, David (Yusuke) Sena, 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.