D&O Disclosure Notices

Ongoing Disclosure Notice
Disclosure of Directors and Senior Managers Relevant Interests
Sections 297(2) and 298(2), Financial Markets Conduct Act 2013
To NZX Limited; and
Name of listed issuer:
New Zealand Rural Land Company Limited (NZL)
Date this disclosure made:
27/03/23
Date of last disclosure:
23/03/23
Director or senior manager giving disclosure
Full name(s):
Christopher Grant Swasbrook
Name of listed issuer:
New Zealand Rural Land Company Limited
Name of related body corporate (if applicable):
N/A
Position held in listed issuer:
Director
Summary of acquisition or disposal of relevant interest (excluding specified derivatives)
Class of affected quoted financial products:
Ordinary Shares
Nature of the affected relevant interest(s):
Legal and Beneficial Ownership
For that relevant interest-
Number held in class before acquisition or disposal:
1,003,277
Number held in class after acquisition or disposal:
1,597,352
Current registered holder(s):
Elevation Capital Management Limited
Registered holder(s) once transfers are registered:
N/A
Details of transactions giving rise to acquisition or disposal
Total number of transactions to which notice relates: 1
Details of transactions requiring disclosure-
Date of transaction:27/03/23
Nature of transaction: Receipt of NZL shares as partial settlement of NZRLM sale
Name of any other party or parties to the transaction (if known):Alied Farmers Limited
The consideration, expressed in New Zealand dollars, paid or received for the acquisition or disposal.
If the consideration was not in cash and cannot be readily by converted into a cash value, describe
the consideration:577,500.00
Number of financial products to which the transaction related: 594,075
If the issuer has a financial products trading policy that prohibits directors or senior managers from
trading during any period without written clearance (a closed period) include the following details—
Whether relevant interests were acquired or disposed of during a closed period:No
Whether prior written clearance was provided to allow the acquisition or disposal to proceed during
the closed period:
N/A
Date of the prior written clearance (if any):N/A
Summary of other relevant interests after acquisition or disposal:
Class of quoted financial products:Ordinary shares
Nature of relevant interest:Beneficially owned
For that relevant interest,-
Number held in class:1,295,162
Current registered holder(s):Elevation Capital Management Limited
Class of quoted financial products:Ordinary shares
Nature of relevant interest:Legally and beneficially owned but subject to trading restrictions under a restricted security deed
For that relevant interest,-
Number held in class:302,190
Current registered holder(s):Elevation Capital Management Limited
Class of quoted financial products:Ordinary shares
Nature of relevant interest:Power to control acquisition, disposal or voting on behalf of beneficial owner
For that relevant interest,-
Number held in class:2,601,500
Current registered holder(s):Public Trust Class 10 Nominees Limited
Certification
I, 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.
Signature of director or officer:Christopher Swasbrook
Date of signature:27-Mar-23
or
Signature of person authorised to sign on behalf of director or officer:
Date of signature:
Name and title of authorised person:

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Ongoing Disclosure Notice
Disclosure of Directors and Senior Managers Relevant Interests
Sections 297(2) and 298(2), Financial Markets Conduct Act 2013
To NZX Limited; and
Name of listed issuer:
New Zealand Rural Land Company Limited (NZL)
Date this disclosure made:
27/03/23
Date of last disclosure:
23/03/23
Director or senior manager giving disclosure
Full name(s):
Richard Milsom
Name of listed issuer:
New Zealand Rural Land Company Limited
Name of related body corporate (if applicable):
N/A
Position held in listed issuer:
Senior Officer of Manager (NZRLM)
Summary of acquisition or disposal of relevant interest (excluding specified derivatives)
Class of affected quoted financial products:
Ordinary Shares
Nature of the affected relevant interest(s):
Legal and Beneficial Ownership
For that relevant interest-
Number held in class before acquisition or disposal:
362,571
Number held in class after acquisition or disposal:
632,605
Current registered holder(s):
REM Trustee Limited & RP Milsom Investments Limited
Registered holder(s) once transfers are registered:
N/A
Details of transactions giving rise to acquisition or disposal
Total number of transactions to which notice relates: 1
Details of transactions requiring disclosure-
Date of transaction:27/03/23
Nature of transaction: Receipt of NZL shares as partial settlement of NZRLM sale
Name of any other party or parties to the transaction (if known):Allied Farmers Limited
The consideration, expressed in New Zealand dollars, paid or received for the acquisition or disposal.
If the consideration was not in cash and cannot be readily by converted into a cash value, describe
the consideration:$262,500.00
Number of financial products to which the transaction related: 270,034 shares
If the issuer has a financial products trading policy that prohibits directors or senior managers from
trading during any period without written clearance (a closed period) include the following details—
Whether relevant interests were acquired or disposed of during a closed period:No
Whether prior written clearance was provided to allow the acquisition or disposal to proceed during
the closed period:
N/A
Date of the prior written clearance (if any):N/A
Summary of other relevant interests after acquisition or disposal:
Class of quoted financial products:Ordinary shares
Nature of relevant interest:Beneficially owned
For that relevant interest,-
Number held in class:495,246
Current registered holder(s):REM Trustee Limited & RP Milsom InvestmentsLimited
Class of quoted financial products:Ordinary shares
Nature of relevant interest:Legally and beneficially owned but subject to trading restrictions under a restricted security deed
For that relevant interest,-
Number held in class:137,359
Current registered holder(s):REM Trustee Limited & RP Milsom Investments Limited
Class of quoted financial products:
Nature of relevant interest:
For that relevant interest,-
Number held in class:
Current registered holder(s):
Certification
I, 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.
Signature of director or officer:
Date of signature:
or
Signature of person authorised to sign on behalf of director or officer:
Date of signature:27-Mar-23
Name and title of authorised person:Christopher Swasbrook - Director

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Ongoing Disclosure Notice
Disclosure of Directors and Senior Managers Relevant Interests
Sections 297(2) and 298(2), Financial Markets Conduct Act 2013
To NZX Limited; and
Name of listed issuer:
New Zealand Rural Land Company Limited (NZL)
Date this disclosure made:
27/03/23
Date of last disclosure:
23/03/23
Director or senior manager giving disclosure
Full name(s):
Hayden Dillon
Name of listed issuer:
New Zealand Rural Land Company Limited
Name of related body corporate (if applicable):
N/A
Position held in listed issuer:
Executive of Manager
Summary of acquisition or disposal of relevant interest (excluding specified derivatives)
Class of affected quoted financial products:
Ordinary Shares
Nature of the affected relevant interest(s):
Legal and Beneficial Ownership
For that relevant interest-
Number held in class before acquisition or disposal:
362,697
Number held in class after acquisition or disposal:
578,724
Current registered holder(s):
Hopeton Trustee Company Limited
Registered holder(s) once transfers are registered:
N/A
Details of transactions giving rise to acquisition or disposal
Total number of transactions to which notice relates: 1
Details of transactions requiring disclosure-
Date of transaction:27/03/23
Nature of transaction: Receipt of NZL shares as partial settlement of NZRLM sale
Name of any other party or parties to the transaction (if known):Allied Farmers Limited
The consideration, expressed in New Zealand dollars, paid or received for the acquisition or disposal.
If the consideration was not in cash and cannot be readily by converted into a cash value, describe
the consideration:$210,000.00
Number of financial products to which the transaction related: 216,027
If the issuer has a financial products trading policy that prohibits directors or senior managers from
trading during any period without written clearance (a closed period) include the following details—
Whether relevant interests were acquired or disposed of during a closed period:No
Whether prior written clearance was provided to allow the acquisition or disposal to proceed during
the closed period:
N/A
Date of the prior written clearance (if any):N/A
Summary of other relevant interests after acquisition or disposal:
Class of quoted financial products:Ordinary shares
Nature of relevant interest:Beneficially owned
For that relevant interest,-
Number held in class:468,837
Current registered holder(s):Hopeton Trustee Company Limited
Class of quoted financial products:Ordinary shares
Nature of relevant interest:Legally and beneficially owned but subject to trading restrictions under a restricted security deed
For that relevant interest,-
Number held in class:109,887
Current registered holder(s):Hopeton Trustee Company Limited
Class of quoted financial products:
Nature of relevant interest:
For that relevant interest,-
Number held in class:
Current registered holder(s):
Certification
I, 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.
Signature of director or officer:
Date of signature:
or
Signature of person authorised to sign on behalf of director or officer:
Date of signature:27-Mar-23
Name and title of authorised person:Christopher Swasbrook - Director