Capital change notice

Template
Capital Change Notice

Updated as at 17 October 2019



Section 1: Issuer information
Name of issuer Bremworth Limited
NZX ticker code BRW
Class of financial product Fully paid up ordinary shares
ISIN (If unknown, check on NZX website) NZCAVE0001S7
Currency Not applicable
Section 2: Capital change details
Number issued/acquired/redeemed 890,328 fully paid up ordinary
shares
Nominal value (if any) Not applicable
Issue/acquisition/redemption price per security Nil
Nature of the payment (for example, cash or other
consideration)
Not applicable
Amount paid up (if not in full) Fully paid up
Percentage of total class of Financial Products
issued/acquired/redeemed/ (calculated on the number of
Financial Products of the Class, excluding any Treasury Stock,
in existence)
1

1.287%

Calculation based on the total
number of financial products of
the class in existence
immediately prior to the issue
(excluding any shares that
could be issued, at a later
date, pursuant to the
December 2020 Long Term
Incentive Scheme or the
September 2021 Bremworth
Share Option Scheme)
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)
The shares are issued to
Bremworth Share Scheme
Limited as trustee of the
Bremworth Limited 2022 Long-
Term Incentive Scheme (2022
LTI Scheme) which will hold
these shares on behalf of the
participants pursuant to the
terms of the 2022 LTI Scheme
until the vesting date. Vesting
of these shares is dependent
on Total Shareholder Return
performance over the three-
year period from 1 July 2022 to
30 June 2025. The Total

1
The percentage is to be calculated immediately before the issue, acquisition, redemption or Conversion.

Shareholder Return is
calculated by reference to the
volume weighted average
share price on the NZX for the
last 20 trading days prior to 30
June 2025 as compared to the
volume weighted average
share price on the NZX for the
last 20 trading days prior to 1
July 2022 of $0.4787.
Reason for issue/acquisition/redemption and specific authority
for issue/acquisition/redemption/ (the reason for change must
be identified here)
Issue of shares pursuant to the
Bremworth Limited 2022 Long-
Term Incentive 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.
70,069,426 fully paid up
ordinary shares (excluding any
shares that could be issued, at
a later date, pursuant to the
December 2020 Long Term
Incentive Scheme or the
September 2021 Bremworth
Share Option Scheme and
excluding Treasury Stock)
Treasury Stock held - Nil
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, acquisition, or redemption,
including a reference to the rule pursuant to which the issue,
acquisition, or redemption is made
Directors' resolution for the
purposes of Listing Rule 4.6.1
(dated 25 October 2022)
Terms or details of the issue, acquisition, or redemption (for
example: restrictions, escrow arrangements)
The terms or details of the
issue are contained in the
Bremworth Limited 2022 Long-
Term Incentive Scheme Rules
Date of issue/acquisition/redemption
2
31 October 2022
Section 3: Authority for this announcement and contact person
Name of person

authorised to make this announcement Victor Tan
Contact person for this announcement Victor Tan
Contact phone number +64 27 668 8963
Contact email address vtan@bremworth.co.nz
Date of release through MAP

1 November 2022




2
Continuous issuers using this form in reliance on Rule 3.13.2, please indicate the period during which the relevant
issue/acquisition/redemptions were made (for example, 1 January 2019 to 31 January 2019).