Capital change notice

Capital change notice, following the issue of performance rights that are convertible into ordinary shares of Cavalier to selected executive employees pursuant to the Cavalier Corporation Limited Long-Term Incentive Scheme, is attached. 24 December 2020 ENDS For further information please contact: Paul Alston Chief Executive Officer palston@bremworth.co.nz +64 21 918 033 +64 9 277 1135 Jackie Ellis Media and Investor Relations Jackie@ellisandco.co.nz +64 27 246 2505 End CA:00365686 For:CAV Type:ADMIN Time:2020-12-24 13:30:03