TOWER LIMITED DISCLOSUREBeneficial Ownership (13D/G / major holdings)

Change in substantial holding

1 Disclosure of movement of 1% or more in substantial holding or change in nature of relevant interest, or both Section 277 and 278, Financial Markets Conduct Act 2013 To: NZX Limited and To: Tower Limited Relevant event being disclosed: Movement of 1% or more in substantial holding Date of relevant event: 31 July 2026 Date of this disclosure: 4 August 2026 Date last disclosure made: 1 October 2025 Substantial product holder(s) giving disclosure: Full name(s): Forsyth Barr Investment Management Limited (FBIM) Summary of substantial holding Class of quoted voting products: Ordinary Shares Summary for FBIM For this disclosure, — (a) total number held in class: 17,188,739 (b) total in class: 343,411,351 (c) total percentage held in class: 5.01% For last disclosure, — (a) total number held in class: 20,689,297 (b) total in class: 342,552,063 (c) total percentage held in class: 6.040% For personal use only 2 Details of transactions and events giving rise to relevant event Date of event Nature of event Consideration Number of financial products Current registered holder(s) Registered holder(s) once transfers are registered 1 October 2025 – 31 July 2026 On-market sales $10,810,973 5,597,889 Forsyth Barr Custodians Limited (FBCL) 5,042,242 / Adminis Custodial Nominees Limited (Adminis) 555,647 Unknown On-market purchases $8,272,647 4,328,590 Unknown FBCL 2,814,445 / Adminis 1,514,145 Off-market transfers out of DIMS Nil 292,740 FBCL Unknown Off-market transfers into DIMS Nil 786,808 Unknown FBCL 31 July 2026 Change in manager of managed investment scheme* Nil 2,275,327 Adminis Adminis * On 31 July 2026, under a deed of retirement and appointment of manager FBIM was replaced by Salt Investment Funds Limited as the manager of the Octagon Investment Funds and ceased to have a relevant interest in the financial products held by those funds. Details after relevant event Details for FBIM Nature of relevant interest(s): The relevant interest arises under various investment management agreements to which FBIM and/or Forsyth Barr Limited are a party in their capacity as providers of discretionary investment management services (DIMS). The relevant interest arises only from the powers of investment contained in the relevant agre