SPH Notice - Harbour Asset Management Limited

100080615/3821107.1 1
Disclosure of ceasing to have substantial holding
Section 279, Financial Markets Conduct Act 2013
To NZX Limited
and
To Freightways Group Limited (FRW)
Date this disclosure made: 29 July 2025
Date last disclosure made: 23 October 2024
Date on which substantial
holding ceased:
28 July 2025


Substantial product holder(s) giving disclosure
Full name(s): Harbour Asset Management Limited


Summary of substantial holding:
Class of quoted voting products: Ordinary Shares (Shares)
Summary for: Harbour Asset Management Limited
For last disclosure
(a) total number held in
class:
9,551,313
(b) total in class: 178,746,356
(c) total percentage held in
class:
5.344%
For current holding
after ceasing to
have a substantial
holding
(a) total number held in
class:
8,909,088
(b) total in class: 178,789,356
(c) total percentage held in
class:
4.983%

100080615/3821107.1 2
Details of Relevant Interests:

Nature of relevant interest(s):
Relevant interest in Shares that its wholly-owned subsidiary
Harbour Asset Management Limited (Harbour) has a relevant
interest in. Harbour has the power to exercise (or control the
exercise of) rights to vote attached to, and power to acquire or
dispose of (or control the acquisition or disposal of), Shares
under investment powers contained in trust deeds or
investment management agreements with clients, including
BNZ Investments Services Limited (see below). FirstCape
Group Limited has those powers and controls indirectly, as the
ultimate owner of Harbour.
Number held in class:
8,909,088
Percentage held in class:
4.983%
Current registered holder of
financial products:
For on market purchases: Unknown
For on market sales: Various nominees or custodians for and
on behalf of Harbour Asset Management Limited
Registered holder of financial
products once transfer is
registered:
For on market purchases: Various nominees or custodians for
and on behalf of Harbour Asset Management Limited
For on market sales: Unknown

Nature of relevant interest(s):
Relevant interest in Shares that its wholly-owned subsidiary
BNZ Investments Services Limited (BNZIL) has a relevant
interest in. BNZIL has a beneficial ownership interest in these
shares, which are managed by Harbour under an investment
management agreement, so are also included in Harbour’s
interest referred to above.
Number held in class:
2,895,694
Percentage held in class:
1.620%
Current registered holder of
financial products:
For on market purchases: Unknown
For on market sales: Various nominees or custodians for and
on behalf of Harbour Asset Management Limited
Registered holder of financial
products once transfer is
registered:
For on market purchases: Various nominees or custodians for
and on behalf of Harbour Asset Management Limited
For on market sales: Unknown

Details of transactions and events giving rise to substantial holding:
The transactions/events giving rise to this disclosure obligation are on-market buy and sell
trades by Harbour Asset Management Limited since 23/10/2024 as summarised in the
table below.

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Details for: Harbour (including BNZ Investment
Services Limited)
BNZ Investment Services
Limited (included in Harbour’s
figures)
On-market purchases –
number of shares
1,175,875 265,866
On-market purchases –
gross consideration
$12,556,971.53 $2,828,707.12
On-market sales –
number of shares
1,818,100 403,659
On-market sales –
gross consideration
$19,401,508.72 $ 4,277,062.88



Additional information
Address of substantial product
holder:
Level 21, 171 Featherston Street, Wellington
Contact details:
Madeleine Pumphrey
M +64 27 376 8309
Madeleine.pumphrey@jbwere.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: None.

Certification
I, Madeleine Pumphrey, 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.