Announcement PDF Argo Investments Limited ABN 35 007 519 520 Head Office GPO Box 2692 Adelaide, South Australia 5001 Level 12, 19 Grenfell Street, Adelaide, South Australia 5000 Telephone (08) 8210 9500 Facsimile (08) 8212 1658 Email invest@argoinvestments.com.au 20 February 2018 Sydney Office Level 37, 259 George Street, Sydney, New South Wales 2000 The Manager Company Announcements ASX Limited 20 Bridge Street SYDNEY NSW 2000 Telephone (02) 8274 4700 Facsimile (02) 8274 4777 www.argoinvestments.com.au Dear Sir or Madam, Share Purchase Plan 2018 The Directors of Argo Investments Limited are pleased to announce the details of the Share Purchase Plan (SPP) which will be offered to eligible shareholders on 9 March 2018. The record date to establish entitlement to the SPP for eligible shareholders is 19 February 2018, which is the same date for establishing entitlement to the interim dividend payable on 9 March 2018. The SPP offers eligible shareholders on the register on 19 February 2018 the opportunity to acquire up to $15,000 of new fully paid ordinary shares in Argo Investments Limited without incurring brokerage or other charges. Participation in the SPP is entirely optional and is open to all shareholders other than shareholders who have registered addresses in countries outside Australia where regulatory requirements make participation by the shareholder unlawful or impracticable. The Directors have determined that shareholders whose registered addresses are outside Australia and New Zealand will be unable to participate in the SPP. The SPP issue price will be the lower of:  the Dividend Reinvestment Plan (DRP) price for the forthcoming interim dividend; or  the volume-weighted average price of Argo shares traded over the 5 trading days up to and including the scheduled SPP closing date (being from 22 March 2018 to 28 March 2018 inclusive), rounded down to the nearest cent. The DRP price will be announced on 22 February 2018 and will be calculated by applying a 2.0% discount to the volume-weighted average price of shares traded over the 4 trading days from 19 February 2018 (record date) to 22 February 2018 inclusive. The final SPP issue price will be announced after the SPP offer closes. If applications for SPP shares exceed $200 million, Argo may, in its absolute discretion, allocate less than the number of shares applied for and determine to apply the scale back to the extent and in the manner that is sees fit. Page 1 of 2 The SPP Terms and Conditions and a personalised Application Form will be distributed to all eligible shareholders on 9 March 2018. The SPP offer will close on Wednesday 28 March 2018. The new shares issued under the SPP will rank equally with existing Argo shares and are expected to be allotted on Wednesday 11 April 2018. Yours faithfully, ARGO INVESTMENTS LIMITED T.C.A. Binks Chief Operating Officer Page 2 of 2