Disclosure of movement of 1% or more in substantial holding or change in nature of relevant interest, or both

Section 277 and 278, Financial Markets Conduct Act 2013

To: NZX Limited
and
To: Arvida Group Limited

Date of relevant event: 30 May 2018
Date of this disclosure: 31 May 2018
Date last disclosure made: 31 October 2017

Substantial product holder(s) giving disclosure:
Full name(s): Forsyth Barr Investment Management Limited

Summary of substantial holding
Class of quoted voting products: Ordinary shares (ARV)

Summary for Forsyth Barr Investment Management Limited
For this disclosure,—
(a) total number held in class: 29,330,506
(b) total in class: 413,949,842
(c) total percentage held in class: 7.086%

For last disclosure,—
(a) total number held in class: 25,087,941
(b) total in class: 413,740,527
(c) total percentage held in class: 6.064%

Details of transactions and events giving rise to relevant event:
See attached for table.

Details after relevant event
Details for Forsyth Barr Investment Management Limited

Nature of relevant interest(s): The relevant interest arises under various investment management agreements to which Forsyth Barr Investment Management Limited is a party in its capacity as a provider of discretionary investment management services (DIMS). The relevant interest arises only from the powers of investment contained in those agreements, including the power to control the exercise of the right to vote attached to the shares and to control the disposal of the shares. A relevant agreement document need not be attached under regulations 139 and 142

For that relevant interest,—
(a) number held in class: 29,330,506
(b) percentage held in class: 7.086%
(c) current registered holder(s): See above
(d) registered holder(s) once transfers are
registered:
See above

For a derivative relevant interest, also—
(a) type of derivative: Not applicable
(b) details of derivative: Not applicable
(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): Forsyth Barr House, The Octagon, Dunedin
Contact details: Rakesh Soma
T: +64 9 368 0035
E: [email protected]

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, Rakesh Soma, 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.