Performance Share Rights granted under Long Term Incentive

Capital Change Notice – Allotment of 2023 PSRs


Section 1: Issuer information
Name of issuer Argosy Property Limited
NZX ticker code ARG
Class of financial product Unlisted performance share
rights (“PSRs”)
ISIN N/A
Currency NZD
Section 2: Capital change details
Number issued 495,473
Nominal value (if any) Nil
Issue/acquisition/redemption 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) N/A
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

The PSRs for the 2023 grant
comprise 100% of the financial
products for that class. Argosy
has other PSRs of different
classes on issue from previous
grants under its Long Term
Incentive 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)
N/A
Reason for issue/acquisition/redemption and specific authority
for issue/acquisition/redemption/ (the reason for change must
be identified here)
To incentivise senior
executives.
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.
495,473

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

Directors’ resolution dated
16 May 2023 and Listing
Rule 4.6.1


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

Terms or details of the issue, acquisition, or redemption (for
example: restrictions, escrow arrangements)
The PSRs are subject to a
vesting period of 3 years.
Vesting is subject to certain
performance hurdles. The
number which actually vest will
be dependent on the relative
ranking of Argosy’s total
shareholder returns against a
comparator group of listed
entities determined by the
Board from the NZX Property
Index.
Date of issue/acquisition/redemption
2
19 May 2023
Section 3: Authority for this announcement and contact person
Name of person

authorised to make this announcement David Snelling
Contact person for this announcement David Snelling
Contact phone number 09 304 3400
Contact email address service@argosy.co.nz
Date of release through MAP

19 May 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).