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 performance share rights
(PSRs), convertible to NZME Limited
ordinary shares pursuant to NZME’s
Total Incentive Plan 2022 Short Term
Incentive component (the 2022 STI
Grant).
ISIN (If unknown, check on NZX website) Not applicable
Currency NZD
Section 2: Capital change details
Number issued 447,294
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
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 PSRs for the 2022 STI Grant
comprise 100% of the financial
products of that class.
NZME has other PSRs of a different
Class on issue from previous grants
under its Total Incentive Plan.
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 PSR is issued pursuant to the
terms and conditions of the 2022 STI
Grant.
The issue of PSRs was subject to the
satisfaction of financial and non-
financial performance conditions set
for each role at the beginning of each
performance period.
Upon becoming exerciseable, each
PSR will entitle the holder to one
ordinary share in the Company. The
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 PSRs pursuant to the
Company’s Total Incentive Plan 2022
STI Grant.
Directors’ resolution dated 21
February 2023.
Total number of Financial Products of the Class after
the issue (excluding Treasury Stock) and the total
447,294 PSRs.

number of Financial Products of the Class held as
Treasury Stock after the issue.
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 21
February 2023 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 STI
Grant, the PSRs will be exercised by
the board on 31 December 2023.
On becoming exercisable, each 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 PSRs have a set exercise price
of $0.
PSRs do not entitle the holder to
receive dividends or other
distributions, or vote in respect of
NZME’s ordinary shares.
Date of issue 22/02/2023
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

22/02/2023