In accordance with section 45 of the Takeovers Act 1993, the Takeovers Panel on 23 June 2021 approved the granting of the exemptions contained in the Takeovers Code (The Todd Corporation Limited) Exemption Notice 2021.

The exemptions apply to acts or omissions on or after 19 July 2021 and expires on 18 July 2026.

The exemptions and the reasons for granting it may be viewed at: https://www.takeovers.govt.nz/assets/Exemptions/Takeovers-Code-The-Todd-Corporation-Limited-Exemption-Notice-2021.pdf.

Dated at Auckland this 15th day of July 2021.