Capital Change Notice

Template
Capital Change Notice

Updated as at June 2023

Section 1: Issuer information
Name of issuer Tower Limited
NZX ticker code TWR
Class of financial product Ordinary Shares
ISIN (If unknown, check on NZX website) NZTWRE0011S2
Currency NZD/AUD
Section 2: Capital change details
Number issued/acquired/redeemed 38,060,062
Nominal value (if any)
N/A
Issue/acquisition/redemption price per security NZ$1.1858, with shareholders
with an address on the register
in Australia on the record date
receiving A$1.0777 based on
the NZD/AUD exchange rate of
0.908843.
Nature of the payment (for example, cash or other
consideration)
Cash
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

10%
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)
Return of capital by way of
scheme of arrangement
approved by the High Court
under Part 15 of the
Companies Act 1993 on 12
March 2025 and shareholders
at the annual meeting on 11
February 2025.
Total number of Financial Products of the Class after the
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.
342,552,063
No treasury stock.
In the case of an acquisition of shares, whether those shares
are to be held as treasury stock
Shares subject to the return of
capital will be cancelled.

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

Specific authority for the issue, acquisition, or redemption,
including a reference to the rule pursuant to which the issue,
acquisition, or redemption is made
Part 15 of the Companies Act
1993.
Terms or details of the issue, acquisition, or redemption (for
example: restrictions, escrow arrangements)
1 ordinary share for every 10
ordinary shares held (together
with all rights attaching to
those shares) by shareholders
on 19 March 2025 has been
cancelled, with fractions
rounded up or down to the
nearest whole share (with 0.5
rounded down). Consideration
is payable to shareholders as
set out above and will be
processed by 2 April 2025
(expected to be 31 March
2025) in accordance with the
terms of the capital return.
Date of issue/acquisition/redemption
2
20/03/2025
Section 3: Authority for this announcement and contact person
Name of person

authorised to make this announcement Tania Pearson
Contact person for this announcement Emily Davies
Contact phone number +64 21 815 149
Contact email address emily.davies@tower.co.nz
Date of release through MAP

21/03/2025




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).