SPH Notice – Geoffrey A. Cumming and Karori Capital Limited

101332.4 - 1481303.3
Disclosure of movement of 1% or more in substantial holding
Sections 277 and 278, Financial Markets Conduct Act 2013
To NZX Limited
and
To Ryman Healthcare Limited (NZX:RYM)
Relevant event being disclosed: Movement of 1% or more in substantial holding
Date of relevant event: 30 May 2023 to 2 June 2023
Date this disclosure made: 8 June 2023
Date last disclosure made: 11 December 2020
Substantial product holder(s) giving disclosure
Full name(s): Geoffrey A. Cumming and Karori Capital Limited
Summary of substantial holding
Class of quoted voting products: Fully paid ordinary shares in RYM
Summary for Geoffrey A. Cumming
For this disclosure,—
(a) total number held in class: 54,051,476
(b) total in class: 687,641,738
(c) total percentage held in class: 7.860%
For last disclosure,—
(a) total number held in class: 48,680,000
(b) total in class: 500,000,000
(c) total percentage held in class: 9.736%
Summary for Karori Capital Limited
For this disclosure,—
(a) total number held in class: 54,051,476
(b) total in class: 687,641,738
(c) total percentage held in class: 7.860%
For last disclosure,—
(a) total number held in class: 48,680,000

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(b) total in class: 500,000,000
(c) total percentage held in class: 9.736%
Details of transactions and events giving rise to relevant event
Details of the transactions or other events requiring disclosure:
The following transactions occurred between the last disclosure and this disclosure. All
events have been disclosed in Geffrey A. Cumming’s announced ongoing director disclosure
notices.
• Between 24 May 2021 and 25 May 2021, acquired:
o 75,434 fully paid ordinary shares in RYM for an aggregate of
NZ$991,813.78 (being NZ$13.1481 per share) through an on market
purchase;
o 44,566 fully paid ordinary shares in RYM for an aggregate of
NZ$584,211.24 (being NZ$13.1089 per share) through an on market
purchase; and
o 120,000 fully paid ordinary shares in RYM for an aggregate of
NZ$1,544,748.00 (being NZ$12.8729 per share) through an on market
purchase.
Following these acquisitions Geoffrey A. Cumming and Karori Capital Limited held a
9.784% relevant interest in ordinary shares in RYM.
• On 27 May 2021, acquired 120,000 fully paid ordinary shares in RYM for an
aggregate of NZ$1,538,400.00 (being NZ$12.82 per share) through an on market
purchase. Following this acquisition Geoffrey A. Cumming and Karori Capital
Limited held a 9.808% relevant interest in ordinary shares in RYM.
• Between 30 November 2021 to 3 December 2021, acquired 716 fully paid ordinary
shares in RYM for an aggregate of NZ$8,723.74 (being an average of NZ$12.1840
per share) through on market purchases in accordance with the RYM directors'
fixed share trading plan (for the period from 1 August 2021 to 30 September
2021). Following these acquisitions Geoffrey A. Cumming and Karori Capital
Limited held a 9.808% relevant interest in ordinary shares in RYM.
• Between 31 May 2022 to 3 June 2022, acquired 3,656 fully paid ordinary shares in
RYM for an aggregate of NZ$35,269.43 (being an average of NZ$9.6470 per share)
through on market purchases in accordance with the RYM directors' fixed share
trading plan (for the period from 1 October 2021 to 31 March 2022). Following
these acquisitions Geoffrey A. Cumming and Karori Capital Limited held a 9.809%
relevant interest in ordinary shares in RYM.
• Between 29 November 2022 and 2 December 2022, acquired 2,747 fully paid
ordinary shares in RYM for an aggregate of NZ$18,377.43 (being an average of
NZ$6.6900 per share) through on market purchases in accordance with the RYM
directors' fixed share trading plan (for the period from 1 April 2022 to 30
September 2022). Following these acquisitions Geoffrey A. Cumming and Karori
Capital Limited held a 9.809% relevant interest in ordinary shares in RYM.

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• On 24 February 2023, acquired 5,000,000 fully paid ordinary shares in RYM for an
aggregate NZ$25,000,000 (being NZ$5.00 per share) through exercise of rights
pursuant to renounceable rights issue. Following this acquisition Geoffrey A.
Cumming and Karori Capital Limited held a 8.781% relevant interest in ordinary
shares in RYM.
• Between 30 May 2023 to 2 June 2023, acquired 4,357 fully paid ordinary shares in
RYM for an aggregate of NZ$27,353.25 (being an average of NZ$6.2780 per share)
through on market purchases in accordance with the RYM directors' fixed share
trading plan (for the period from 1 October 2022 to 31 March 2023). Following
these acquisitions Geoffrey A. Cumming and Karori Capital Limited held a 7.860%
relevant interest in ordinary shares in RYM.
Details after relevant event
Details for Geoffrey A. Cumming
Nature of relevant interest(s): Relevant interest in fully paid ordinary shares of RYM held
by Karori Capital Limited (a wholly owned company of Geoffrey A. Cumming) by virtue of
Geoffrey A. Cumming holding all of the shares of Karori Capital Limited.
For that relevant interest,—
(a) number held in class: 54,051,476
(b) percentage held in class: 7.860%
(c) current registered holder(s): Karori Capital Limited and unknown
(d) registered holder(s) once transfers are registered: Karori Capital Limited
For a derivative relevant interest, also—
(a) type of derivative: N/A
(b) details of derivative: N/A
(c) parties to the derivative: N/A
(d) if the substantial product holder is not a party to the derivative, the nature of the
relevant interest in the derivative: N/A
Details for Karori Capital Limited
Nature of relevant interest(s): Registered holder and beneficial owner of fully paid ordinary
shares in RYM.
For that relevant interest,—
(a) number held in class: 54,051,476
(b) percentage held in class: 7.860%
(c) current registered holder(s): Karori Capital Limited and unknown

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(d) registered holder(s) once transfers are registered: Karori Capital Limited
For a derivative relevant interest, also—
(a) type of derivative: N/A
(b) details of derivative: N/A
(c) parties to the derivative: N/A
(d) if the substantial product holder is not a party to the derivative, the nature of the
relevant interest in the derivative: N/A

Additional information
Address(es) of substantial product holder(s): C/- Harmos Horton Lusk Limited, Level 33,
Vero Centre, 48 Shortland Street, Auckland 1010
Contact details: Jesse Marble | jdm@karoricapital.com | +1 403 690 6311
Nature of connection between substantial product holders: Geoffrey A. Cumming is the sole
shareholder, and a director of, Karori Capital Limited.
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, Jesse David Marble, 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.