Issue of Performance Rights

Gentrack Group Ltd | www.gentrack.com | info@gentrack.com | ARBN 169 195 751

2 April 2020
Issue of Performance Rights
Gentrack Group Limited (NZX/ASX: GTK) (Gentrack) advises that it has issued
1,025,533 Performance Rights (PRs) to senior executives for nil consideration under the
Gentrack Long Term Incentive Scheme (LTI Scheme).
Each PR issued for this award under the LTI Scheme gives the right to receive one
ordinary share in Gentrack. 512,767 PRs (50%) will vest subject to the holder continuing
to be employed by Gentrack at the end of the vesting period. 512,766 PRs (50%) will
vest subject to the holder continuing to be employed by Gentrack at the end of the vesting
period and achievement of the Performance Hurdle.
The vesting period for this award is the three years to 1 April 2023.
The Performance Hurdle is that 50% of the PRs will vest if the Compound Annual Growth
Rate (CAGR) in Earnings Per Share (EPS) of Gentrack Group from the Base EPS to the
Final EPS, being that for the financial year to 30 September 2022, is 7%. The number of
Performance Rights that vest increases linearly to 100% if EPS CAGR on the same basis
is 12% or above. Base EPS is forecast EPS for FY20 prior to the suspension of full year
FY20 guidance by Gentrack on 17 March 2020 as a result of the COVID-19 outbreak.

The Performance Hurdle for vesting of PRs granted in the future will be set by the Board
at the time they are granted.

In connection with the issue, Gentrack advises the following details:

(a) Class of security and ISIN: Performance Rights- ISIN: N/A
(b) Number of Performance Rights issued: 1,025,533
(c) Issue Price: NIL
(d) Payment in cash: NIL
(e) Amount paid up: N/A
(f) Principal terms See text above
(g) Percentage of total
class of securities:
74.1%
(h) Reason for issue: Issued under the Gentrack LTI Scheme
(i) Specific authority for issue: Directors’ Resolution
(j) Terms or details of issue: Issued under the Gentrack LTI Scheme
(k) Total number of securities of
the class after issue:
1,384,393
(l) Treasury Stock: Not applicable
(m) Date of issue: 1 April 2020
ENDS

2
Contact
Jon Kershaw - Company Secretary
+64 9 966 6090

About Gentrack
Gentrack provides essential software for essential services, pairing powerful platforms
with deep market knowledge to help utilities and airports lower service costs, foster
innovation and confidently navigate market reform. It employs over 500 people in
offices across New Zealand, Australia, the UK, Singapore, USA and Europe and
services over 200 utility and airport sites globally with its leading solutions.
Gentrack Cloud is a subscription-based billing, customer information, market
interaction and portfolio analytics solution for energy and water utilities in markets
where flexibility, uniqueness and compliance are essential. Its meter-to-cash
capabilities and managed services offering are designed to enable utilities to
differentiate their businesses in competitive markets, to deliver great customer service
experiences, achieve lower service costs, launch innovative products and stay
compliant with market regulations.
More information: www.gentrack.com
Veovo is Gentrack’s world-class solution for airports, enabling them to unlock
operational, revenue, concession and passenger insights across the airport ecosystem.
Over 100 airports globally are using Veovo to operate more efficiently, uncover new
growth opportunities and deliver outstanding guest experiences.
More information: www.veovo.com