SPH Notice – Clyde and Rena Holland

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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 New Zealand Rural Land Company Limited
Relevant event being disclosed: Change in the nature of relevant interest
Date of relevant event: 23 September 2021
Date this disclosure made: 23 September 2021
Date last disclosure made: 21 December 2020
Substantial product holder(s) giving disclosure
Full name(s): Clyde and Rena Holland
Summary of substantial holding
Class of quoted voting products: Ordinary Shares
Summary for Clyde and Rena Holland
For this disclosure,—
(a) total number held in class: 9,589,329
(b) total in class: 96,900,000
(c) total percentage held in class: 9.896%
For last disclosure,—
(a) total number held in class: 5,960,000
(b) total in class: 60,460,000
(c) total percentage held in class: 9.858%
Details of transactions and events giving rise to relevant event
Details of the transactions or other events requiring disclosure:
• The substantial product holder subscribed for, and was allotted, 1,830,000 ordinary
shares in the issuer at $1.10 per share on 28 June 2021 under a rights issue
undertaken by the issuer.
• On the date of this notice, the substantial product holder has subscribed for, and
was allotted, 1,566,697 ordinary shares in the issuer at $1.10 per share through a
placement of rights issue shortfall by the issuer.

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• The substantial product holder was, as a limited partner of New Zealand Rural Land
Management Limited Partnership (Manager), nominated to receive, and was today
allotted, 232,632 ordinary shares in the issuer at $1.3968 per share representing a
portion of a performance fee that the issuer was liable to pay the Manager for
services provided to the issuer in the period ending 30 June 2021 (Performance
Fee Shares).
• The substantial product holder entered into a Restricted Security Deed with the
issuer today where half of the Performance Fee Shares (131,316) may not be
transferred or traded by the substantial product holder for a period of five years.
Details after relevant event
Details for Clyde and Rena Holland
Nature of relevant interest(s): Beneficial owner of financial products
For that relevant interest,—
(a) number held in class: 9,458,013
(b) percentage held in class: 9.761%
(c) current registered holder(s): New Zealand Central Securities Depository Limited
(d) registered holder(s) once transfers are registered: N/A
Details for Clyde and Rena Holland
Nature of relevant interest(s): Registered holder and beneficial owner of financial products
but subject to trading restrictions under a Restricted Security Deed (copy attached)
For that relevant interest,—
(a) number held in class: 131,316
(b) percentage held in class: 0.136%
(c) current registered holder(s): Clyde and Rena Holland
(d) registered holder(s) once transfers are registered: N/A
Additional information
Address(es) of substantial product holder(s): Clyde and Rena Holland c/- Duncan Cotterill,
Level 2, 50 Customhouse Quay, Wellington 6011
Contact details: Matt Yates, +64 4 471 9428 / matt.yates@duncancotterill.com
Name of any other person believed to have 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: N/A

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Certification
I, Clyde Holland, 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.