Turners has strong take up for employee share scheme

Company Announcement
24 August 2022



Turners has strong take up for employee share scheme

Turners issued shares under the recently launched Employee Share Scheme today. A total 105,999 shares
were issued representing 0.12% of issued capital. The company received applications from 42% of the
employees within the wider Turners Automotive Group business.

CEO Todd Hunter said “we are extremely pleased with the uptake, and we hope we will have even more
of the team participate next year. Having such a high percentage of our team as owners of the business
is a great thing. The ownership mindset combined with our high team engagement levels is a powerful
combination. Turners already benefits from high alignment with shareholder interests, with senior
executives and board members controlling 27% of issued capital in aggregate.”

The scheme provides the opportunity for permanent (part-time and full-time) employees of the business
to invest $1,000 and receive $1,500 worth of shares at the completion of a 3 year vesting period. In order
to encourage broad participation the company also offered a three year interest free loan to acquire the
shares to all staff.


ENDS



About Turners

Turners Automotive Group Limited is an integrated financial services group, primarily operating in the
automotive sector www.turnersautogroup.co.nz

For further information, please contact:

Aaron Saunders, Group Chief Financial officer, Turners Automotive Group Limited, Mob: 027 493 8794
Todd Hunter, Group Chief Executive Officer, Turners Automotive Group Limited, Mob: 021 722 818

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Template
Capital Change Notice

Updated as at 17 October 2019

Capital

Section 1: Issuer information
Name of issuer Turners Automotive Group Limited
NZX ticker code TRA
Class of financial product Ordinary shares
ISIN (If unknown, check on NZX website) NZVNLE0001S1
Currency NZD
Section 2: Capital change details
Number issued 105,999
Nominal value (if any) n/a
Issue/acquisition/redemption price per security $3.78
Nature of the payment (for example, cash or other consideration) Cash
Amount paid up (if not in full) n/a
Percentage of total class of Financial Products issued 0.1224%
For an issue of Convertible Financial Products or Options, the
principal terms of Conversion
n/a
Reason for issue/acquisition/redemption and specific authority for
issue/acquisition/redemption/ (the reason for change must be
identified here)
Issue of shares under the Turners
Automotive Group Limited
Employee Share Scheme
Total number of Financial Products of the Class after the
issue/acquisition/redemption/Conversion (excluding Treasury
Stock) and the total number of Financial Products of the Class held
as Treasury Stock after the issue/acquisition/redemption.
86,700,247
Treasury Stock: nil
In the case of an acquisition of shares, whether those shares are to
be held as treasury stock
n/a
Specific authority for the issue, acquisition, or redemption, including
a reference to the rule pursuant to which the issue, acquisition, or
redemption is made
Board resolutions dated 22 August
2022 and NZX Listing Rule 4.6.1.
Terms or details of the issue, acquisition, or redemption (for
example: restrictions, escrow arrangements)
Ordinary shares issued rank pari
passu with existing ordinary shares
Date of issue 24/08/2022
Section 3: Authority for this announcement and contact person
Name of person

authorised to make this announcement Barbara Badish
Contact person for this announcement Todd Hunter
Contact phone number 021 722 818
Contact email address Todd.Hunter@turners.co.nz
Date of release through MAP

24/08/2022