Sale of Property – 17 Print Place, Christchurch

NZX Announcement - 19 December 2017

Sale of Property – 17 Print Place, Christchurch

NPT Limited (NZX: NPT) advises it has accepted an offer for the sale of its Print Place, Christchurch
property.

The NPT Board formed a view that this property no longer fits with its preferred strategy for the
future of NPT and therefore should be sold.

Print Place is an industrial property in Christchurch. Although higher than average yields have
been achieved in the past, this location and type of commercial property is no longer in strong
demand. The property is now experiencing tenancy vacancies and requires substantial capital
investment.

NPT ran a Sale by Tender campaign through Colliers International in Christchurch. The process
resulted in three offers being received by the Company. Of these, an offer of $8.25 million was
deemed most attractive based on a number of factors, including having the least conditions
attached, and that offer has been accepted.

Although the offer is below the current carrying value of $11m, it is the view of the NPT Board
that the sale price achieved allows the Company to arrest ongoing losses and to reinvest capital
into opportunities which offer better long-term value growth.

The purchaser is a South Island-based private investor.

Ends.


Tony Osborne Bruce Cotterill
Chief Executive Officer Chairman
NPT Limited NPT Limited
T 09 375 9081 T 021 668 881
E tony@npt.co.nz E bruce@cotterill.co


Any media inquiries to be directed to:

Karyn Arkell
Grace PR
T 027 475 3511