Capital Change Notice

Template
Capital Change Notice

Updated as at June 2023

Please do not amend or delete individual rows. As this template relates to prescribed content, changes to content
should only be made where it is clearly indicated that this is permitted, otherwise, if an Issuer considers a particular
element does not apply, mark the row as N/A, Any other changes to this prescribed form must first be approved by
NZX as required under NZX Listing Rule 3.26.1.

Section 1: Issuer information
Name of issuer Tower Limited
NZX ticker code TWR
Class of financial product Fully paid ordinary shares
ISIN (If unknown, check on NZX website) NZTWRE0011S2
Currency NZD
Section 2: Capital change details
Number issued/acquired/redeemed [1,128,138]
Nominal value (if any) N/A
Issue/acquisition/redemption price per security Issued for nil cash consideration
Nature of the payment (for example, cash or
other consideration)
N/A
Amount paid up (if not in full) N/A
Percentage of total class of Financial Products
issued/acquired/redeemed/ (calculated on the
number of Financial Products of the Class,
excluding any Treasury Stock, in existence)
1

[0.297]%
For an issue of Convertible Financial Products
or Options, the principal terms of Conversion
(for example the Conversion price and
Conversion date and the ranking of the
Financial Product in relation to other Classes
of Financial Product) or the Option (for
example, the exercise price and exercise date)
N/A
Reason for issue/acquisition/redemption and
specific authority for
issue/acquisition/redemption/ (the reason for
change must be identified here)
Vesting of unquoted share rights (Share
Rights) and issuance of ordinary shares under
Tower Limited’s Long-Term Incentive Plan
(Plan) to Blair Turnbull, authorised by Board
resolution, on the basis that applicable TSR
performance hurdles were assessed to be
satisfied in full. As required by the Plan rules,
the 2,095,349 Share Rights vest pro-rata
reflecting the proportion of the vesting period
for each award that was complete as at the
CEO’s leaving date. Therefore, [967,211]
Share Rights lapse and are cancelled.
Total number of Financial Products of the
Class after the
(1) [380,612,125] ordinary shares; and
(2) [3,523,218] Share Rights.

1
The percentage is to be calculated immediately before the issue, acquisition, redemption or Conversion.

issue/acquisition/redemption/Conversion
(excluding Treasury Stock) and the total
number of Financial Products of the Class held
as Treasury Stock after the
issue/acquisition/redemption.
In the case of an acquisition of shares, whether
those shares are to be held as treasury stock
N/A
Specific authority for the issue, acquisition, or
redemption, including a reference to the rule
pursuant to which the issue, acquisition, or
redemption is made
Resolution of the Board and Listing Rule
4.9.1(b).
Terms or details of the issue, acquisition, or
redemption (for example: restrictions, escrow
arrangements)
The vesting of Share Rights, and the issuance
of shares thereunder, are for nil cash
consideration. The shares are issued as fully
paid ordinary shares on the same terms as all
other ordinary shares (including as to
dividends). No participant may dispose of any
shares delivered under the Plan on the ASX
within 12 months of the issue date.
Date of issue/acquisition/redemption
2
14/02/2025
Section 3: Authority for this announcement and contact person
Name of person

authorised to make this
announcement
Tania Pearson
Contact person for this announcement Tania Pearson
Contact phone number +64 3 373 3390
Contact email address Tania.Pearson@tower.co.nz
Date of release through MAP

14/02/2025




2
Continuous issuers using this form in reliance on Rule 3.13.2, please indicate the period during which the relevant
issue/acquisition/redemptions were made (for example, 1 January 2019 to 31 January 2019).