Appendix 3Y Change of Director's Interest Notice Appendix 3Y Change of Director's Interest Notice

Rule 3.19A.2

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity TREASURY WINE ESTATES LIMITED

ABN 24 004 373 862

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director

MICHAEL ANTHONY CLARKE

Date of last notice

14 September 2017

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

Direct or indirect interest

Direct and Indirect

Nature of indirect interest (including registered holder)

Note: Provide details of the circumstances giving rise to the relevant interest.

Shares held by Fiona Clarke (spouse)

Date of change

19 October 2017 (off-market transfer)

23 October 2017 (disposal)

No. of securities held prior to change

789,391 ordinary shares fully paid in the share capital of Treasury Wine Estates Limited.

FY16 Short Term Incentive Plan

38,525 ordinary shares restricted pursuant to the terms of the FY2016 Short Term Incentive Plan.

FY17 Short Term Incentive Plan

76,238 ordinary shares restricted pursuant to the terms of the FY2017 Short Term Incentive Plan.

FY16 Long Term Incentive Plan

659,759 performance rights (to acquire shares) held under the terms of the FY2016 Long Term Incentive Plan.

FY17 Long Term Incentive Plan

452,205 performance rights (to acquire shares) held under the terms of the FY2017 Long Term Incentive Plan.

Class

Ordinary shares

Number acquired

Change of interest in 100,000 ordinary shares from direct to indirect as a result of an off-market transfer to spouse.

Number disposed

200,000 ordinary shares

+ See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director's Interest Notice

Value/Consideration

Note: If consideration is non-cash, provide details and estimated valuation

Transfer of 100,000 shares to spouse (non-cash): Estimated valuation of $14.30 per ordinary share (being the opening price on 19 October 2017).

Disposal of 200,000 shares: $14.34 per ordinary share.

No. of securities held after change

Direct

489,391 ordinary shares fully paid in the share capital of Treasury Wine Estates Limited.

FY16 Short Term Incentive Plan

38,525 ordinary shares restricted pursuant to the terms of the FY2016 Short Term Incentive Plan.

FY17 Short Term Incentive Plan

76,238 ordinary shares restricted pursuant to the terms of the FY2017 Short Term Incentive Plan.

FY16 Long Term Incentive Plan

659,759 performance rights (to acquire shares) held under the terms of the FY2016 Long Term Incentive Plan.

FY17 Long Term Incentive Plan

452,205 performance rights (to acquire shares) held under the terms of the FY2017 Long Term Incentive Plan.

Indirect

100,000 ordinary shares fully paid in the share capital of Treasury Wine Estates Limited held by Fiona Clarke (spouse).

Nature of change

Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy- back

Off-market transfer of 100,000 ordinary shares to spouse. Sale of 200,000 ordinary shares on-market.

Part 2 - Change of director's interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.

Detail of contract

N/A

Nature of interest

N/A

Name of registered holder (if issued securities)

N/A

Date of change

N/A

No. and class of securities to which interest related prior to change

Note: Details are only required for a contract in relation to which the interest has changed

N/A

Interest acquired

N/A

Interest disposed

N/A

Value/Consideration

Note: If consideration is non-cash, provide details and an estimated valuation

N/A

Interest after change

N/A

+ See chapter 19 for defined terms.

Appendix 3Y Page 2 01/01/2011

Part 3 - +Closed period Appendix 3Y Change of Director's Interest Notice

Were the interests in the securities or contracts detailed above traded during a +closed period where prior written clearance was required?

No

If so, was prior written clearance provided to allow the trade to proceed during this period?

N/A

If prior written clearance was provided, on what date was this provided?

N/A

Dated 24 October 2017

+ See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3

Treasury Wine Estates Limited published this content on 30 October 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 29 October 2017 22:32:05 UTC.

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