SPH Notice - Forsyth Barr Investment Management Limited

1

Disclosure of ceasing to have substantial holding
Section 279, Financial Markets Conduct Act 2013
To: NZX Limited
and
To: Tower Limited
Date this disclosure made: 1 July 2025
Date last disclosure made: 13 May 2025
Date on which substantial holding ceased: 30 June 2025
Substantial product holder(s) giving disclosure:
Full name(s) Forsyth Barr Investment Management Limited
(FBIM)
Summary of previous substantial holding
Class of quoted voting products: Ordinary Shares
Summary for FBIM
For last disclosure,—
(a) total number held in class: 17,251,246
(b) total in class: 342,552,063
(c) total percentage held in class:

5.036%

For current holding after ceasing to have substantial holding,—
(a) total number held in class: 17,045,343
(b) total in class: 342,552,063
(c) total percentage held in class:

4.976%

Details of transactions and events giving rise to ceasing of substantial holding
Date of event Nature of event Number of financial
products
Consideration



13 May 2025 – 30
June 2025
On-market
purchase
442,189 $666,496
Off-market
transfers into
DIMS
190,815 Nil
Off-market
transfers out of
DIMS
30,400

Nil
On-market sales 808,507 $1,260,516

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Additional information
Address(es) of substantial product holder(s): Forsyth Barr House, The Octagon, Dunedin
Contact details: Jeremiah Craig
T: 09 918 9232
E: compliance@forsythbarr.co.nz
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:
Not applicable
Certification
I, Jeremiah Craig, 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.