Notification of Allotment of Securities

Capital Change Notice



Section 1: Issuer information
Name of issuer Heartland Bank Limited
(Heartland)
NZX ticker code HBL1T2
Class of financial product Unsecured subordinated notes
ISIN (If unknown, check on NZX website) NZHBLD01T2L8
Currency NZD
Section 2: Capital change details
Number issued/acquired/redeemed 100,000,000
Nominal value (if any) $100,000,000.00
Issue/acquisition/redemption price per security $1.00 per note
Nature of the payment (for example, cash or other
consideration)
Cash
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

100%
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)
N/A
Reason for issue/acquisition/redemption and specific authority
for issue/acquisition/redemption/ (the reason for change must
be identified here)
Reason for issue: This
issuance will raise Tier 2
Capital to help Heartland meet
its regulatory capital
requirements and manage its
capital position. The proceeds
of the offer will be used for
Heartland's general corporate
purposes.
Specific authority for issue:
Approved by Heartland Board
resolutions.
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.
100,000,000
Nil Treasury Stock
In the case of an acquisition of shares, whether those shares
are to be held as treasury stock
N/A

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

Specific authority for the issue, acquisition, or redemption,
including a reference to the rule pursuant to which the issue,
acquisition, or redemption is made
Heartland Board resolutions.
Terms or details of the issue, acquisition, or redemption (for
example: restrictions, escrow arrangements)
As set out in the Deed Poll
dated 11 April 2023 and the
Limited Disclosure Document
dated 11 April 2023
Date of issue/acquisition/redemption
2
28/04/2023
Section 3: Authority for this announcement and contact person
Name of person

authorised to make this announcement
Leanne Lazarus
Chief Executive Officer,
Heartland Bank Limited
Contact person for this announcement
Nicola Foley
Group Head of
Communications, Heartland
Group Holdings Limited
Contact phone number 027 345 6809
Contact email address Nicola.Foley@heartland.co.nz
Date of release through MAP

28/04/2023




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).