SPH Notice – Eugene Williams

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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
Date of relevant event: 16 June 2023
Date this disclosure made: 19 June 2023
Date last disclosure made: 9 June 2023
Substantial product holders giving disclosure
Full names: Eugene Hamilton Williams and TLR Williams Trustee Company Limited
(Williams Trustee Co) as trustees of the E & Co Trust (together, the Williams
Trustees), and Tracy Leanne Rowsell as director of Williams Trustee Co.
Summary of substantial holding
Class of quoted voting products: Ordinary shares in NZAI (NZX Code: NZA)
Summary for the Williams Trustees and Tracy Rowsell
For this disclosure,—
(a) total number held in class: 13,850,540
(b) total in class: 45,554,500
(c) total percentage held in class: 30.4043%
For last disclosure,—
(a) total number held in class: 14,607,018
(b) total in class: 45,554,500
(c) total percentage held in class: 32.065%
Details of transactions and events giving rise to relevant event
Details of the transactions or other events requiring disclosure: Eugene Williams and
Williams Trustee Co as the Williams Trustees are joint registered holders of the ordinary
shares in NZAI. Eugene Williams is also a beneficial owner of those jointly held shares.
Tracy Rowsell is the sole director and shareholder of Williams Trustee Co, which is an
independent trustee company with no beneficial interests, and has the power to exercise,
or to control the exercise of, a right to vote attached to 20% or more of the voting
products in Williams Trustee Co. As a result, Tracy Rowsell has a relevant interest in
Williams Trustee Co’s jointly held shares in NZAI.

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The number of ordinary shares in NZAI held by the Williams Trustees has decreased by
more than 1% since the last substantial product holder notice dated 9 June 2023. The
Williams Trustees have made aggregated on market sales of 756,478 ordinary shares in
NZAI, for total consideration of $211,296.24 as follows:
Date Description of
Transaction
Average price
per share ($)
Number of
Shares sold
Total
Consideration
12/06/2023 On Market sell down.
Transferees are unknown.
0.2742568 81,035 $ 22,224.40
13/06/2023 On Market sell down.
Transferees are unknown.
0.2767387 57,493 $ 15,910.54
14/06/2023 On Market sell down.
Transferees are unknown.
0.2900000 92,500 $ 26,825.00
16/06/2023 On Market sell down.
Transferees are unknown.
0.2784971 525,450 $ 146,336.30
Total 756,478 $ 211,296.24

Details after relevant event
Details for Williams Trustees and Tracy Leanne Rowsell
Nature of relevant interest(s): Eugene Williams and Williams Trustee Co as the Williams
Trustees are joint registered holders of 13,850,540 ordinary shares in NZAI. Eugene
Williams is also a beneficial owner of those jointly held shares. Tracy Rowsell is the sole
director and shareholder of Williams Trustee Co, which is an independent trustee company
with no beneficial interests, and has the power to exercise, or to control the exercise of, a
right to vote attached to 20% or more of the voting products in Williams Trustee Co. As a
result, Tracy Rowsell has a relevant interest in Williams Trustee Co’s jointly held shares in
NZAI.
For that relevant interest,—
(a) number held in class: 13,850,540
(b) percentage held in class: 30.4043%
(c) current registered holder(s): Eugene Williams and TLR Williams Trustee Company
Limited (as to 11,433,973 shares) and Forsyth Barr Custodians Limited (as to
2,416,567 shares)
(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

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(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: Tracy Rowsell | +64 9 3668024 | Tracy.Rowsell@bdo.co.nz
Nature of connection between substantial product holders: Williams Trustee Co and Eugene
Williams as the Williams Trustees are joint registered holders of ordinary shares in NZAI.
Eugene Williams is also a beneficial owner of these jointly held shares. Tracy Rowsell is the
sole director and shareholder of Williams Trustee Co, which is an independent trustee
company with no beneficial interests, and has the power to exercise, or to control the
exercise of, a right to vote attached to 20% or more of the voting products in Williams
Trustee Co.
Certification
I, Tracy Roswell, 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.