Trilogy International : NZX SSH cessation notification

III

11August2017

ASX Market Announcements Australian Stock Exchange Exchange Centre

Level 6

20 Bridge Street

Sydney NSW 2000

AUSTRALIA

Trilogy International (NZX:TIL,ASX: TIL) Notification of Substantial Shareholder movement

Please find attached a notification of cessation of a substantial holding notified to the NZX on 10August 2017.

Yours sincerely

I ' ,..-,((/"' )

8say ·ender

' ief Financial Officer

About Trilogy International Ltd

TIL - Trilogy International Limited(NZX:TIL) is a cultivator of essential natural products and home fragrance brands: Trilogy, ECOYA and Goodness in New Zealand and around the world. Its subsidiary CS&Co distributes international cosmetics, fragrances, skincare and haircare brands in New Zealand. Visit http://trilogyproducts.com/investors to learn more.

TRILOGY INTERNATIONAL LIMITED

trilogy

ECOYA

goodness

CS&O:>.

Disclosure of ceasing to have substantial holding

Section 279,Financial Markets Conduct Act 2013

Note: This form must be completed in accordance with the instructions at the end of the form.

To NZX Limited

and

To Trilogy International Limited

Date this disclosure made: 10/08/ 2017

Date last disclosure made: 15/06/ 2017

Date on which substantial holding ceased: 09/ 08/ 2017

Substantial product holder(s) giving disclosure

Full name(s): Pie Funds Management Limited

Summary of previous substantial holding

Class of quoted voting products: Ordinary Shares Summary for Pie Funds Management Limited For last disclosure, -

1. total number held in class: 4,301,185

2. total in class: 72,709,130

3. total percentage held in class: 5.92°/o

For current holding after ceasing to have substantial holding, -

1. total number held in class: 3,431,029

2. total in class: 72,709,130

3. total percentage held in class: 4.720/o

Details of transactions and events giving rise to ceasing of substantial holding

Details of the transactions or other events requiring disclosure:

314,577 ordinary shares purchased between$2.15 and$2.29 NZD. 1,184,733 ordinary shares sold between$2.24 and$2.85, NZD. Additional information

Address(es) of substantial product holder(s):Level One, 1 Byron Ave, Takapuna, Auckland, 0622,New Zealand

100080615/3821107.1 l

Contact details: Chris Bainbridge; [phone]; chris@piefunds. co.nz

Name of any other person believed to have given, or believed to be required to give, a disclosure under the Financial Markets Conduct Act 2013 in relation to the financial products to which this disclosure relates: N/A

Certification

I, Chris Bainbridge, certify that, to the best of my knowledge and belief, the information contained in this disclosure is correct and that Iam duly authorised to make this disclosure by all persons for whom it is made.

100080615/3821107.1 2