Update on NorthWest Two Option

Stride Property Group (NS)
NZX Announcement
IMMEDIATE – 29 April 2019




W strideproperty.co.nz
Update on NorthWest Two Option


Stride Property Limited (‘SPL’) advises that the option held by Westgate Town Centre Limited
(‘
WTCL’) to acquire SPL’s NorthWest Two development, which is located alongside NorthWest
Shopping Centre in Auckland, has expired without SPL receiving notice from WTCL seeking to
exercise the option. The option period was extended pending discussions between WTCL and SPL,
and SPL recently gave notice to bring the option period to an end. While discussions between the
parties may still continue, SPL sought to resolve the issue of the outstanding option.

Under the terms of the ground lease from WTCL to SPL for the land on which NorthWest Two is
located, in the event WTCL did not exercise the option to acquire the NorthWest Two development,
the agreement permits SPL to obtain freehold title to the land for a nominal amount of $1.

SPL retains a right of first refusal over Zones 1 and 2 at Westgate owned by WTCL, being the land
located immediately adjacent to NorthWest Two, should WTCL wish to sell some or all of this
property. In addition, WTCL retains a right of first refusal over SPL’s NorthWest Shopping Centre and
NorthWest Two should SPL wish to sell either or both of these properties.



Ends


For further information please contact:

Tim Storey, Chairman, Stride Investment Management Limited / Stride Property Limited
Mobile: +64 21 633 089 - Email:
tim.storey@strideproperty.co.nz

Philip Littlewood, Chief Executive Officer, Stride Investment Management Limited

Mobile: +64 21 230 3026 - Email: philip.littlewood@strideproperty.co.nz

Jennifer Whooley, Chief Financial Officer,
Stride Investment Management Limited
Mobile: +64 21 536 406 - Email: jennifer.whooley@strideproperty.co.nz

Louise Hill, General Manager Corporate Services, Stride Investment Management Limited
Mobile: +64 27 558 0033 - Email: louise.hill@strideproperty.co.nz

A Stapled Security of the Stride Property Group comprises one ordinary share in Stride Property Limited and one
ordinary share in Stride Investment Management Limited. Under the terms of the constitution of each company, the
shares in each can only be transferred if accompanied by a transfer of the same number of shares in the other.

Stapled Securities are quoted on the NZX Main Board under the ticker code SPG. Further information is available at
www.strideproperty.co.nz or at www.nzx.com/companies/SPG.