Update on Contingent Obligations

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NEW ZEALAND Rural Land Co
WWW.NZRLC.CO.NZ
NZX Announcement

1 June 2021

Update on Contingent Obligations

New Zealand Rural Land Company Limited (NZL.NZX) can confirm that its contingent obligations to acquire two additional dairy
assets for $10.76 million is now at an end. As expected, the sale of these two dairy assets to two third party purchasers have now
settled. Please see the Notice of Special Meeting released to market on 10 May 2021 for further information regarding these
additional assets.

NZL’s remains in the process of settling its purchase of 14 dairy assets and will update the market in due course.

ENDS

Contact:
Christopher Swasbrook
Executive Director
Mobile: 021 928 262
Email:  chris@nzrlc.co.nz