SPH Notice – Clyde & Rena Holland

1
Disclosure of movement of 1% or more in substantial holding
or change in nature of relevant interest, or both
Sections 277 and 278, Financial Markets Conduct Act 2013
To NZX Limited
and
To New Zealand Rural Land Company Limited
Relevant event being disclosed: Decrease of relevant interest
Date of relevant event: 10 May 2023
Date this disclosure made: 23 May 2023
Date last disclosure made: 5 September 2022
Substantial product holder(s) giving disclosure
Full name(s): Clyde & Rena Holland
Summary of substantial holding
Class of quoted voting products: Ordinary Shares
Summary for Clyde & Rena Holland
For this disclosure,—
(a) total number held in class: 10,809,369
(b) total in class: 139,902,398
(c) total percentage held in class: 7.73%
For last disclosure,—
(a) total number held in class: 10,089,278
(b) total in class: 115,601,570
(c) total percentage held in class: 8.73%
Details of transactions and events giving rise to relevant event
Details of the transactions or other events requiring disclosure:
1. Dilution from non-participation in rights issues.
2. The substantial product holder, as a limited partner of New Zealand Rural Land
Management Limited Partnership (Manager), received on 27 March 2023, 720,091
ordinary shares in the Issuer at $0.9721 per share as settlement for the sale of
their interest in the Manager.

2
Details after relevant event
Details for Clyde & Rena Holland
Nature of relevant interest(s): Beneficial owner of financial products
For that relevant interest,—
(a) number held in class: 10,443,078
(b) percentage held in class: 7.47%
(c) current registered holder(s): New Zealand Central Securities Depository Limited
(d) registered holder(s) once transfers are registered: N/A
Nature of relevant interest(s): Registered holder and beneficial owner of financial products
but subject to trading restrictions under a Restricted Security Deed.
For that relevant interest,—
(a) number held in class: 366,291
(b) percentage held in class: 0.26%
(c) current registered holder(s): New Zealand Central Securities Depository Limited
(d) registered holder(s) once transfers are registered: N/A
Additional information
Address(es) of substantial product holder(s):
Contact details: Clyde and Rena Holland c/- Duncan Cotterill, Level 2, 50 Customhouse
Quay, Wellington 6011
Contact details: Matt Yates, +64 4 471 9428 / matt.yates@duncancotterill.com
Nature of connection between substantial product holders: N/A
Name of any other person believed to have given, or believed to be required to give, a
disclosure under the Financial Markets Conduct Act 2013 in relation to the financial
products to which this disclosure relates: N/A
Certification
I, Clyde Holland, 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.