Summerset : ASX Appendix 3A.1 – updated for DRP strike price and AUD FX

Notification of dividend / distribution

Update Summary

Entity name

SUMMERSET GROUP HOLDINGS LIMITED

Security on which the Distribution will be paid

SNZ - ORDINARY FULLY PAID FOREIGN EXEMPT NZX

Announcement Type

Update to previous announcement

Date of this announcement

Wednesday September 6, 2017

Reason for the Update

Strike price for DRP and foreign exchange rate added

Refer to below for full details of the announcement

Announcement Details

Part 1 - Entity and announcement details

1. Name of +Entity

   SUMMERSET GROUP HOLDINGS LIMITED

   Registration Number

   164228399

2. Registered Number Type

   ARBN

3. ASX issuer code

   SNZ

4. The announcement is

Update/amendment to previous announcement

1.4a Reason for update to a previous announcement

Strike price for DRP and foreign exchange rate added

1. b Date of previous announcement(s) to this update

   Tuesday August 15, 2017

2. Date of this announcement

   Wednesday September 6, 2017

3. ASX +Security Code

SNZ

ASX +Security Description

ORDINARY FULLY PAID FOREIGN EXEMPT NZX

Part 2A - All dividends/distributions basic details

2A.1 Type of dividend/distribution

Ordinary

2A.2 The Dividend/distribution:

relates to a period of six months

2A.3 The dividend/distribution relates to the financial reporting or payment period ending ended/ending (date)

Friday June 30, 2017

2A.4 +Record Date

Tuesday August 29, 2017

2A.5 Ex Date

Monday August 28, 2017

2A.6 Payment Date

Monday September 11, 2017

2A.7 Are any of the below approvals required for the dividend/distribution before business day 0 of the timetable?

Security holder approval Court approval

Lodgement of court order with +ASIC ACCC approval

FIRB approval

Another approval/condition external to the entity required before business day 0 of the timetable for the dividend/distribution.

No

2A.8 Currency in which the dividend/distribution is made ("primary currency")

NZD - New Zealand Dollar

2A.9 Total dividend/distribution payment amount per +security (in primary currency) for all dividends/distributions notified in this form

NZD 0.03900000

2A.9a AUD equivalent to total dividend/distribution amount per +security 0.03564210

2A.9b If AUD equivalent not known, date for information to be released

Wednesday September 6, 2017

2A.9c FX rate (in format AUD 1.00 / primary currency rate): AUD

AUD 1.00

Estimated or Actual?

Actual

FX rate (in format AUD rate/primary currency rate) Primary Currency rate

NZD 1.09421162

2A.10 Does the entity have arrangements relating to the currency in which the dividend/distribution is paid to securityholders that it wishes to disclose to the market?

Yes

2A.11 Does the entity have a securities plan for dividends/distributions on this +security?

We have a Dividend/Distribution Reinvestment Plan (DRP)

2A.11a If the +entity has a DRP, is the DRP applicable to this dividend/distribution?

Yes

2A.12 Does the +entity have tax component information apart from franking?

No

2A.11a(i) DRP Status in respect of this dividend/distribution

Full DRP

2A.13 Withholding tax rate applicable to the dividend/distribution

15.000000

Part 2B - Currency Information

2B.1 Does the entity default to payment in certain currencies dependent upon certain attributes such as the banking instruction or registered address of the +securityholder? (For example NZD to residents of New Zealand and/or USD to residents of the U.S.A.).

Yes

2B.2 Please provide a description of your currency arrangements

Based on shareholder's residence and/or election made by the shareholder

2B.2a Other currency/currencies in which the dividend/distribution will be paid:

AUD - Australian Dollar AUD 0.03564210

2B.2b Please provide the exchange rates used for non-primary currency payments

Reserve Bank of New Zealand Daily Exchange Mid-Rate on 29 August 2017, being the day prior to the commencement of the pricing period for the DRP strike price

2B.2c If payment currency equivalent and exchange rates not known, date for information to be released

Wednesday September 6, 2017

Estimated or Actual?

Actual

2B.3 Can the securityholder choose to receive a currency different to the currency they would receive under the default arrangements?

No

Part 3A - Ordinary dividend/distribution

3A.1 Is the ordinary dividend/distribution estimated at this time?

No

3A.1b Ordinary Dividend/distribution amount per security

NZD 0.03900000

3A.2 Is the ordinary dividend/distribution franked?

No

3A.3 Percentage of ordinary dividend/distribution that is franked 0.0000 %

3A.4 Ordinary dividend/distribution franked amount per +security

NZD 0.00000000

3A.6 Ordinary dividend/distribution unfranked amount per +security excluding conduit foreign income amount

NZD 0.03900000

3A.1a Ordinary dividend/distribution estimated amount per +security

NZD

3A.5 Percentage amount of dividend which is unfranked

100.0000 %

Part 3F - NZD declared dividends/distributions - supplementary dividend/distribution

3F.1 Is a supplementary dividend/distribution payable?

No

Part 4A - +Dividend reinvestment plan (DRP)

4A.1 What is the default option if +security holders do not indicate whether they want to participate in the DRP?

Do not participate in DRP (i.e. cash payment)

4A.2 Last date and time for lodgement of

election notices to share registry under DRP

Wednesday August 30, 2017 15:00:00

4A.4 Period of calculation of reinvestment price

Start Date

Wednesday August 30, 2017

4A.5 DRP price calculation methodology

4A.3 DRP discount rate

2.0000 %

End Date

Tuesday September 5, 2017

As per clause 7 of the DRP Offer Document dated 29 April 2016

4A.6 DRP Price (including any discount):

NZD 4.99680

4A.7 DRP +securities +issue date

Monday September 11, 2017