Portfolio Update and Q3 Dividend

NZX and media
announcement
—
5 November 2021

Page 1

PORTFOLIO UPDATE AND Q3 DIVIDEND
Property for Industry Limited (PFI, the Company) is pleased to provide an update on the Company’s
portfolio and to announce a third quarter dividend of 1.85 cents per share.

Portfolio Update
Further to the recent announcements of the $79.5 million sale and leaseback for 15-years with T&G
Global of 22 Whakatu Road in Hastings and the acquisition of an industrial property located at 32 Honan
Place in Avondale, Auckland for $3.1 million, PFI is pleased to provide an update on a number of key
leasing transactions.

Renewals have recently been secured for a number of key expiries, including a five-year renewal at 10c
Stonedon Drive in East Tamaki, and an eight-year renewal at 3-5 Niall Burgess Road. A tenant has also
been secured for the Company’s development at 47a Dalgety Drive in Wiri, for a five-year term. A new
10-year lease has also been secured at 44 Noel Burnside Road in Wiri, following the surrender of the
lease by existing tenant, ABC Tissue.

Combined, the recent acquisition and leasing activity has secured $9.5 million of rental income for an
average lease term of more than 10.5 years.

PFI’s Chief Executive Officer, Simon Woodhams, notes: “Since the release of PFI’s interim result in
August, the PFI team have negotiated a number of key transactions. The team has also been working
closely with our tenants, providing targeted rental deferral and abatement to those most impacted by
COVID-19 restrictions.”

Q3 Dividend
The PFI Board has today resolved to pay a third quarter cash dividend of 1.85 cents per share, in line
with the dividend paid for the same period in the prior year.

The dividend will have imputation credits of 0.63 cents per share attached and a supplementary dividend
of 0.29 cents per share will be paid to non-resident shareholders. The record date for the dividend is 12
November 2021, and the payment date is 23 November 2021.

The dividend reinvestment scheme (DRS) will operate with a discount of 2%. The last date for receipt of
an application for participation in the DRS is one business day after the record date, being 15 November
2021. If you have previously completed an application to participate in the DRS, you do not need to do
anything further. You will receive shares instead of cash, in accordance with your application. If you wish
to change your previous participation, you will need to complete a new application. Further details can
be found on PFI’s website: https://www.propertyforindustry.co.nz/investor-centre/dividend-
information/dividend-reinvestment/.

ENDS

NZX and media
announcement
—
5 November 2021

Page 2

ABOUT PFI & CONTACT

PFI is an NZX listed property vehicle specialising in industrial property. PFI’s nationwide portfolio of almost 100 properties is
leased to around 150 tenants.

For further information please contact:

SIMON WOODHAMS
Chief Executive Officer
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Phone: +64 21 749 770
Email: woodhams@pfi.co.nz
CRAIG PEIRCE
Chief Finance and Operating Officer
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Phone: +64 21 248 6301
Email: peirce@pfi.co.nz
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Property for Industry Limited
Shed 24, Prince’s Wharf, 147 Quay Street, Auckland 1010
PO Box 1147, Shortland Street, Auckland 1140
www.propertyforindustry.co.nz

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Distribution Notice

Updated as at 18 December 2019




Section 1: Issuer information
Name of issuer Property for Industry Limited
Financial product name/description Property for Industry Limited Shares
NZX ticker code PFI
ISIN (If unknown, check on NZX
website)
NZPFIE0001S5
Type of distribution
(Please mark with an X in the
relevant box/es)
Full Year Quarterly X
Half Year Special
DRP applies X
Record date 12 November 2021
Ex-Date (one business day before the
Record Date)
11 November 2021
Payment date (and allotment date for
DRP)
23 November 2021
Total monies associated with the
distribution
$9,332,419
Source of distribution (for example,
retained earnings)
Retained earnings
Currency NZD
Section 2: Distribution amounts per financial product
Gross distribution $0.02484772
Gross taxable amount $0.02267044
Total cash distribution $0.01850000
Excluded amount (applicable to listed
PIEs)
$0.00217728
Supplementary distribution amount $0.00288048
Section 3: Imputation credits and Resident Withholding Tax
Is the distribution imputed Fully imputed X
Partial imputation
No imputation
If fully or partially imputed, please
state imputation rate as % applied
28%
Imputation tax credits per financial
product
$0.00634772
Resident Withholding Tax per
financial product
N/A

Section 4: Distribution re-investment plan (if applicable)
DRP % discount (if any)
2%
Start date and end date for
determining market price for DRP
12 November 2021 18 November 2021
Date strike price to be announced (if
not available at this time)
19 November 2021
Specify source of financial products to
be issued under DRP programme
(new issue or to be bought on market)
New Issue
DRP strike price per financial product
To be determined
Last date to submit a participation
notice for this distribution in
accordance with DRP participation
terms
15 November 2021
Section 5: Authority for this announcement
Name of person

authorised to make
this announcement
Craig Peirce
Contact person for this
announcement
Craig Peirce
Contact phone number +64 21 248 6301
Contact email address peirce@pfi.co.nz
Date of release through MAP

5 November 2021