SPH Notice – Wanaka Partners, LLC

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Disclosure of beginning to have substantial holding
Section 276, Financial Markets Conduct Act 2013
To NZX Limited
and
To Winton Land Limited (WIN)
Date this disclosure made: 17 December 2021
Date on which substantial holding began: 17 December 2021
Substantial product holder(s) giving disclosure
Full name(s): Wanaka Partners, LLC and David Liptak
Summary of substantial holding
Class of quoted voting products: Ordinary shares in WIN
Summary for Wanaka Partners, LLC and David Liptak
For this disclosure,—
(a) total number held in class: 28,683,000
(b) total in class: 296,613,736
(c) total percentage held in class: 9.670%
Details of relevant interests
Details for Wanaka Partners, LLC
Nature of relevant interest(s): Registered holder and beneficial owner of shares. This
relevant interest is qualified by the terms of a restricted security agreement between
Wanaka Partners, LLC and Winton dated 1 December 2021 (Wanaka RSA) under which
Wanaka Partners, LLC agrees not to dispose of more than 25% of the shares held by it
prior to the offer before the business day after WIN’s Results Announcement for the
financial year ended 30 June 2023. A copy of the Wanaka RSA is attached to the event
disclosure given by WIN on 17 December 2021
For that relevant interest,—
(a) number held in class: 28,683,000
(b) percentage held in class: 9.670%
(c) current registered holder(s): Wanaka Partners, LLC
(d) registered holder(s) once transfers are registered: Not applicable
Details for David Liptak
Nature of relevant interest(s): 20% or more interest in Wanaka Partners, LLC, resulting in
David being deemed to have the same relevant interests in WIN shares as Wanaka

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Partners, LLC as outlined above. This relevant interest is qualified by the terms of the
Wanaka RSA as outlined above. A copy of the Wanaka RSA is attached to the event
disclosure given by WIN on 17 December 2021
For that relevant interest,—
(a) number held in class: 28,683,000
(b) percentage held in class: 9.670%
(c) current registered holder(s): Wanaka Partners, LLC
(d) registered holder(s) once transfers are registered: Not applicable
Details of transactions and events giving rise to substantial holding
Details of the transactions or other events requiring disclosure: Ordinary shares in WIN
became quoted on the NZX Main Board on 17 December 2021.
Additional information
Address(es) of substantial product holder(s): 2711 Centerville Road, Suite 400,
Wilmington, Delaware, 19808, United States of America
Contact details: David Liptak, +1 917 603 3314, dliptak@spring-street.net
Nature of connection between substantial product holders: David Liptak has a 20% or
more interest in Wanaka Partners, LLC
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: Winton Land Limited
Disclosure has effect for purposes of directors’ and senior managers’ disclosure
David Liptak is also a director of Winton Land Limited. This disclosure also constitutes
disclosure for the purposes of the directors’ and senior managers’ disclosure obligations
Certification
I, David Liptak, 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