Exemptions

Exemptions from rule 6(1) of the Code for:

• each beneficiary of certain expiring trusts (the Expiring Trusts) or any parent of such beneficiary in relation to any increase in that person’s voting control in The Todd Corporation Limited (TCL) where the increase in voting control occurs as a result of a transfer of shares in TCL (First Transfer Shares) from the trustees of the Expiring Trusts; and
• the trustees of certain other trusts (the Second Transfer Trustees) in relation to any increase in any such person’s voting control in TCL which occurs as a result of certain transfers of First Transfer Shares to the Second Transfer Trustee.