SPH Notice

4309258 v2
Disclosure of movement of 1% or more in substantial holding
or change in nature of relevant interest, or both
Sections 277 and 278, Financial Markets Conduct Act 2013

TO: NZX Limited
AND TO: Goodman Property Trust ("GMT")

Relevant event being disclosed: Movement of 1% or more in a substantial
holding and change in nature of relevant
interest
Date of relevant event: 1 June 2021
Date this disclosure made: 1 June 2021
Date last disclosure made: 14 December 2015

Substantial product holder(s) giving disclosure
Full name(s): Goodman Investment Holdings (NZ)
Limited ("GIHNZ")

Summary of substantial holding
Class of quoted voting products: GMT units ("Units")
Summary for GIHNZ
For this disclosure, –
(a) total number held in class: 304,050,730
(b) total in class: 1,397,303,338
(c) total percentage held in class: 21.760%
For last disclosure, –
(a) total number held in class: 262,447,211
(b) total in class: 1,273,070,920
(c) total percentage held in class: 20.615%

4309258 v2
2
Details of transactions and events giving rise to relevant event
Details of the transactions or other events requiring disclosure:

On 30 May 2016 GIHNZ being part of Goodman
Group (consisting of Goodman Limited, Goodman
Industrial Trust, Goodman Logistics (HK) Limited
and their controlled entities), was issued 3,219,812
Units at a price of $1.348 per Unit pursuant to
amendments made to the GMT trust deed on 5
August 2014 ("Trust Deed Amendment"), which
requires Goodman (NZ) Limited as manager of
GMT ("GNZ"), to use its base management fee to
subscribe for new Units.

On 1 June 2016 GIHNZ transferred 1,429,769
Units to several Goodman Property Services (NZ)
Limited ("GPS") employees pursuant to a long-
term incentive plan (nil consideration).

On 24 November 2016 GIHNZ was issued
3,932,153 Units at a price of $1.24 per Unit
pursuant to the Trust Deed Amendment which
requires GNZ to use its base management fee to
subscribe for new Units.

On 1 June 2017 GIHNZ transferred 2,479,715
Units to several GPS employees pursuant to a
long-term incentive plan (nil consideration).

On 6 June 2017 GIHNZ was issued 3,879,785
Units at a price of $1.276 per Unit pursuant to the
Trust Deed Amendment which requires GNZ to use
its base management fee to subscribe for new
Units.

On 29 November 2017 GIHNZ was issued
3,679,267 Units at a price of $1.3566 per Unit
pursuant to the Trust Deed Amendment which
requires GNZ to use its base management fee to
subscribe for new Units.

On 1 June 2018 GIHNZ transferred 3,117,081
Units to several GPS employees pursuant to a
long-term incentive plan (nil consideration).

On 11 June 2018 GIHNZ was issued 3,641,451
Units at a price of $1.4284 per Unit pursuant to the
Trust Deed Amendment which requires GNZ to use
its base management fee to subscribe for new
Units.

On 26 November 2018 GIHNZ was issued
3,477,157 Units at a price of $1.5154 per Unit
pursuant to the Trust Deed Amendment which
requires GNZ to use its base management fee to
subscribe for new Units.

4309258 v2
3
On 4 June 2019 GIHNZ transferred 3,665,417
Units to several GPS employees pursuant to a
long-term incentive plan (nil consideration).

On 4 June 2019 GIHNZ was issued 7,557,428
Units at a price of $1.834873 per Unit pursuant to
the Trust Deed Amendment which requires GNZ to
use its performance fee to subscribe for new Units.

On 24 September 2019 GIHNZ was issued
15,418,226 Units at a price of $2.10 per Unit.
These were issued as proceeds from the
Placement undertaken on 18 September 2019
raising $150m of new equity to fund current
commitments and future investment opportunities.

On 2 June 2020 GIHNZ transferred 4,021,811
Units to several GPS employees pursuant to a
long-term incentive plan (nil consideration).

On 30 June 2020 GIHNZ was issued 5,436,690
Units at a price of $2.094087 per Unit pursuant to
the Trust Deed Amendment which requires GNZ to
use its performance fee to subscribe for new Units.

On 1 June 2021 GIHNZ transferred 1,912,144
Units to several GPS employees pursuant to a
long-term incentive plan (nil consideration).
On 1 June 2021 GIHNZ was issued 6,075,343
Units at a price of $2.249723 per Unit pursuant to
the Trust Deed Amendment which requires GNZ to
use its performance fee to subscribe for new Units.




Details after relevant event
Details for: GIHNZ
Nature of relevant interest(s): GIHNZ holds the Units the subject of this
notice on its own behalf.
For that relevant interest,—
(a) number held in class: 304,050,730
(b) percentage held in class: 21.760%
(c) current registered holder(s): GIHNZ
(d) registered holder(s) once
transfers are registered: GIHNZ
For a derivative relevant interest, also—
(a) type of derivative: Not applicable

4309258 v2
4
(b) details of derivative: Not applicable
(c) parties to the derivative: Not applicable
(d) if the substantial product holder Not applicable
is not a party to the derivative,
the nature of the relevant interest
in the derivative:
Additional information
Address(es) of substantial product holder(s): For GIHNZ
KPMG Centre
Level 2, 18 Viaduct Harbour
Auckland
New Zealand

Contact details: Anton Shead
Ph: +64 9 375 6072
anton.shead@goodman.com

Nature of connection between substantial
product holders: GIHNZ holds the Units the subject of this
notice on its own behalf.
Name of any other person believed to have Not applicable
given, or believed to be required to give, a
disclosure under the Financial Markets
Conduct Act 2013 in relation to the financial
products to which this disclosure relates:

Certification
I, Anton Shead, certify that, to the best of my knowledge and belief, the information contained in this
disclosure is correct and that I am duly authorised to make this disclosure by all persons for whom it
is made.