Capital Return to Shareholders Implemented

20/03/2025 10:08 NZDT, CORPACTP

20 March 2025

Market Information

NZX Limited

Level 2, NZX Centre

11 Cable Street

WELLINGTON

Company Announcements Office

ASX Limited

Exchange Centre

Level 6, 20 Bridge Street

Sydney NSW 2000

AUSTRALIA

Capital Return to Shareholders Implemented

Tower Limited has today implemented its capital return of approximately NZ$45m to its shareholders.

As part of the capital return, 1 ordinary share for every 10 ordinary shares held by shareholders on 19 March 2025 has been cancelled, with fractions rounded up or down to the nearest whole share (with 0.5 rounded down). The total number of shares on issue following the capital return is 342,552,063.

Payments to shareholders will be processed by 2 April 2025 in accordance with the terms of the capital return. It is currently expected that this will occur on 31 March 2025.

This announcement has been authorised by Michael Stiassny, Chair.

For media enquiries, please contact in the first instance:

Emily Davies,

Head of Corporate Affairs and Sustainability

+64 21 815 149

emily.davies@tower.co.nz

For investor enquiries, please contact:

James Silcock

Head of Strategy, Planning and Investor Relations

+64 22 395 9327

james.silcock@tower.co.nz