Ann: 700MHz Spectrum Acquisition and Entitlement Offer, page-3

TPG has today launched a 1 for 11.13 accelerated non-renounceable pro-rata entitlement offer to raise $400 million (the Entitlement Offer) at a fixed price of $5.25 per new share, consisting of:

• an accelerated institutional component to be conducted on Wednesday, 12 April 2017 (Institutional Entitlement Offer); and
• a retail component which will open on Friday, 21 April 2017 and close at 5.00pm on Friday, 12 May 2017 (Retail Entitlement Offer).

The Offer Price represents:
• a 18.9% discount to dividend-adjusted TERP of $6.471,2; and
• a 20.2% discount to the dividend-adjusted closing price of $6.582 on Tuesday, 11 April 2017.

The Entitlement Offer is non-renounceable and rights will not be traded on the ASX or otherwise
transferable. Eligible shareholders who do not take up their entitlement under the Entitlement Offer in full or in part, will not receive any value in respect of those entitlements not taken up.

Major shareholders David Teoh and associates, and Washington H. Soul Pattinson, are supportive of TPG’s mobile strategy and have pre-committed to take up their full pro-rata entitlements ($138 million and $101 million respectively). The balance of the Entitlement Offer will be underwritten by Macquarie Capital (Australia) Limited