Form 604

Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme KANGAROO ISLAND PLANTATION TIMBERS LIMITED

ACN/ARSN ABN: 19 091 247 166

1. Details of substantial holder (1)

   Name PAUL MCKENZIE

   ACN/ARSN (if applicable)

   substantial holder on	05/10/2016
   The previous notice was given to the company on	10/06/2016
   The previous notice was dated	10/06/2016

   There was a change in the interests of the

2. Previous and present voting power

   The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

   Class of securities (4)	Previous notice		Present notice
   Person's votes	Voting power (5)	Person's votes	Voting power (5)
   Ordinary Shares	148,360	8.63%	160,027	8.95%

3. Changes in relevant interests

   Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

   Date of change	Person whose relevant interest changed	Nature of change (6)	Consideration given in relation to change (7)	Class and number of securities affected	Person's votes affected
   05/10/2016	Aminac Pty Ltd ATF Agrarian Management S/F A/C	11,667 Shares issued at $19.20 per share (being the closing price on 5 October 2016) under the Performance Rights Plan dated 18 January 2016, approved by shareholder at the AGM held on 5 October 2016	$224,006	11,667 Fully paid Ordinary Shares	11,667

4. Present relevant interests

   Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

   Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder (8)	Nature of relevant interest (6)	Class and number of securities	Person's votes
   Mr Paul McKenzie	Aminac Pty Ltd ATF Agrarian Management S/F A/C	Aminac Pty Ltd ATF Agrarian Management S/F A/C	Aminac Pty Ltd ATF Agrarian Management S/F A/C, in which Mr Paul McKenzie is Manging Director	129,610 Fully Paid Ordinary Shares	141,277
   Mr Paul McKenzie	Agrarian Consulting Pty Ltd	Agrarian Consulting Pty Ltd	Agrarian Consulting Pty Ltd Mr Paul McKenzie is Manging Director	18,750 Fully Paid Ordinary Shares	18,750

5. Changes in association

   The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

   Name and ACN/ARSN (if applicable)	Nature of association
   N/A	N/A

6. Addresses

The addresses of persons named in this form are as follows:

Signature

print name Mr Paul McKenzie capacity Director

sign here date 06/10/2016

DIRECTIONS

1. If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 6 of the form.

2. See the definition of "associate" in section 9 of the Corporations Act 2001.

3. See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001.

4. The voting shares of a company constitute one class unless divided into separate classes.

5. The person's votes divided by the total votes in the body corporate or scheme multiplied by 100.

6. Include details of:

7. any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a copy of any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and

8. any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

   See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

9. Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, become entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.

10. If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write "unknown".

11. Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.