NZM: Ceasing to be a substantial holder from WBC

Disclosure of ceasing to have substantial holding

Section 279, Financial Markets Conduct Act 2013

To: NZX Limited

and

To: NZME Limited

Date this disclosure made: 9 August 2016

Date last disclosure made: 6 July 2016

Date on which substantial holding ceased: 5 August 2016 Substantial product holder(s) giving disclosure

Full name(s): Westpac Banking Corporation (including the related bodies corporate specified in

the Annexure)

Summary of previous substantial holding

Class of quoted voting products: ordinary shares - security code NZM

Summary for Westpac Banking Corporation (including the related bodies corporate specified in the Annexure)

For last disclosure,-

1. total number held in class: 11,516,023

2. total in class: 196,011,282

3. total percentage held in class: 5.88%

For current holding after ceasing to have substantial holding,-

1. total number held in class: 9,691,026

2. total in class: 196,011,282

3. total percentage held in class: 4.94%

Details of transactions and events giving rise to ceasing of substantial holding

Details of the transactions or other events requiring disclosure: Refer Annexure

Additional information

Address(es) of substantial product holder(s):

Westpac Banking Corporation, Level 20, Westpac Place, 275 Kent Street, Sydney, NSW 2000, Australia

BTNZ Unit Trusts Nominees Limited, Level 14, 191 Queen Street, Auckland 1010, New Zealand BT Funds Management (NZ) Limited, 16 Takutai Square, Auckland 1010, New Zealand

Asgard Capital Management Limited, Level 20, Westpac Place, 275 Kent Street, Sydney NSW 2000

Advance Asset Management Limited, Level 20, Westpac Place, 275 Kent Street, Sydney NSW 2000

BT Funds Management Limited, Level 20, Westpac Place, 275 Kent Street, Sydney NSW 2000 BT Funds Management No. 2 Limited, Level 20, Westpac Place, 275 Kent Street, Sydney NSW 2000

BT Investment Management (Institutional) Limited, Level 14, Chifley Tower, 2 Chifley Square, Sydney NSW 2000

BT Investment Management (Fund Services) Limited, Level 14, Chifley Tower, 2 Chifley Square, Sydney NSW 2000

Contact details:

Tim Hartin

Group Company Secretary Phone: (+61 2) 8219 8990

Nature of connection between substantial product holders: The entities specified in the Annexure are related bodies corporate of Westpac Banking Corporation.

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

Disclosure has effect for purposes of directors' and senior managers' disclosure: Not applicable Certification

I, Tim Hartin, 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.