Issue of Performance Rights

Capital Change Notice



Section 1: Issuer information
Name of issuer NZME Limited
NZX ticker code NZM
Class of financial product Unquoted long term performance
share rights (LTI PSRs), convertible
to NZME Limited ordinary shares
pursuant to NZME’s Total Incentive
Plan 2022 (the 2022 LTI Grant).
ISIN (If unknown, check on NZX website) Not applicable
Currency NZD
Section 2: Capital change details
Number issued 959,546
Nominal value (if any) Nil
Issue price per security Nil
Nature of the payment (for example, cash or other
consideration)
No consideration is payable for the
LTI PSRs.
Amount paid up (if not in full) Not applicable
Percentage of total class of Financial Products issued
(calculated on the number of Financial Products of the
Class, excluding any Treasury Stock, in existence)
The LTI PSRs for the 2022 LTI Grant
comprise 100% of the financial
products of that class.
NZME has other performance share
rights on issue from previous grants
under its Total Incentive Plan. Those
other performance share rights are
treated as a different class as they
are subject to different vesting
conditions
For an issue of Convertible Financial Products or
Options, the principal terms of Conversion (for example
the Conversion price and Conversion date and the
ranking of the Financial Product in relation to other
Classes of Financial Product) or the Option (for
example, the exercise price and exercise date)
Each LTI PSR is issued pursuant to
the terms and conditions of the 2022
LTI Grant.
Vesting of LTI PSRs is subject to
achievement of the performance
conditions over a three-year
performance period from 1 January
2022 to 31 December 2024.
Upon vesting and becoming
exercisable, each LTI PSR will entitle
the holder to one ordinary share in the
Company. The LTI PSRs have a set
exercise price of $0.

Reason for issue and specific authority for issue (the
reason for change must be identified here)
Issue of LTI PSRs pursuant to the
Company’s Total Incentive Plan 2022
Grant.
Directors’ resolution dated 12 April
2022
Total number of Financial Products of the Class after
the issue (excluding Treasury Stock) and the total
number of Financial Products of the Class held as
Treasury Stock after the issue.
959,546 LTI PSRs.
In the case of an acquisition of shares, whether those
shares are to be held as treasury stock.
Not applicable.
Specific authority for the issue, including a reference to
the rule pursuant to which the issue is made.
Resolution of Directors dated 12 April
2022 pursuant to NZX Listing Rule
4.6.1.
Terms or details of the issue (for example: restrictions,
escrow arrangements)
Subject to the rules of the 2022 LTI
Grant, the LTI PSRs will vest and be
exercised on 31 December 2024.
LTI PSRs are subject to restrictions
on transfer as provided in the rules of
the Total Incentive Plan.
On becoming exercisable, each LTI
PSR entitles the holder to one fully
paid ordinary NZME share subject to
adjustment in accordance with the
plan rules, ranking equally with all
other NZME ordinary shares.
The LTI PSRs have a set exercise
price of $0.
LTI PSRs do not entitle the holder to
receive dividends or other
distributions, or vote in respect of
NZME’s ordinary shares.
Date of issue 22 April 2022
Section 3: Authority for this announcement and contact person
Name of person

authorised to make this announcement Allison Whitney
Contact person for this announcement Allison Whitney
Contact phone number 027 479 0697
Contact email address allison.whitney@nzme.co.nz
Date of release through MAP

22 April 2022