Precinct 2023 Annual Meeting of Shareholders

Precinct Properties New Zealand Limited Head Office Wellington Office
E hello@precinct.co.nz Level 12, 188 Quay Street, Auckland 1010 T 0800 400 599 Generator, 30 Waring Taylor Street, Wellington T 0800 400 599
W www.precinct.co.nz PO Box 5140, Auckland 1141, New Zealand F +64 9 927 1655 PO Box 2, Wellington 6140, New Zealand F +64 4 494 2267
NZX announcement - 14 November 2023
Precinct Properties Annual Shareholder Meeting (ASM)
11:30am (New Zealand time), Tuesday 14 November 2023
Generator Commercial Bay, Toroa Room, Level 2, PwC Tower 15 Customs St West,
Auckland
Online attendance at https://meetnow.global/nz
Chair’s opening address
Morena, Tena Koutou Katoa
Good morning and welcome to the Precinct Properties 2023 Annual Meeting of
Shareholders. I’m Craig Stobo, Independent Director and Chair.
It is great to see so many of you in attendance at our Generator Commercial Bay
Meeting & Event Suites today.
Similar to previous years, today’s meeting has a hybrid format. So, in addition to the
in-person meeting being held, shareholders, proxies and guests can attend the
meeting online via the Computershare Online Meeting platform. Shareholders and
proxies attending virtually also have the ability to ask questions and submit votes
online.
For online participants, if you have a question to submit during the live meeting, please
select the Q&A tab on the right half of your screen anytime. Type your question into
the field and press send. Your question will be immediately submitted. Should you
require any assistance, one of the Computershare team will be able to assist you via
the chat function and reply to your query. Alternatively, you can call Computershare
on 0800-650-034.
Please note that while you can submit questions from now on, I will not address them
until the relevant time in the meeting at the end of the presentations. Please also note

Precinct Properties New Zealand Limited Head Office Wellington Office
E hello@precinct.co.nz Level 12, 188 Quay Street, Auckland 1010 T 0800 400 599 Generator, 30 Waring Taylor Street, Wellington T 0800 400 599
W www.precinct.co.nz PO Box 5140, Auckland 1141, New Zealand F +64 9 927 1655 PO Box 2, Wellington 6140, New Zealand F +64 4 494 2267
that your questions may be moderated or if we receive multiple questions on one
topic, amalgamated together.
While will try to get through as many questions as possible, we do apologise in
advance for any questions submitted online that we are unable to answer due to time
constraints. In this case, questions will be followed up by email after the meeting.
Voting today will be conducted by way of a poll on all items of business. In order to
provide you with enough time to vote, I will shortly open the voting for all resolutions.
For those attending virtually, if you are eligible to vote at this meeting, you will be able
to cast your vote online under the Vote tab. Once the voting has opened, the
resolutions will allow votes to be submitted. To vote, simply select your voting direction
from the options shown on screen. You can vote for all resolutions at once or by each
resolution. Your vote has been cast when the tick appears. To change your vote,
simply select ‘Change Your Vote’. You have the ability to change your vote, up until
the time I declare voting closed.
I now declare voting open on all items of business.
For those physically attending today, we hope you will all stay and join us for some
light refreshments after the meeting is concluded.
I would now like to introduce the members of the Board and executive team joining
us today. We have, Anne Urlwin, Graeme Wong, Chris Meads, Nicola Greer, Mark
Tume, Chris Judd, Scott Pritchard, George Crawford and Richard Hilder. We also have
Alana Barron who joins Precinct through the Future Director Programme in an observer
capacity.
Also present with us are representatives from our auditors, Ernst & Young, tax advisors,
KPMG, legal advisors, Chapman Tripp and our registrar, Computershare.
Now moving to the agenda of today’s meeting.

Precinct Properties New Zealand Limited Head Office Wellington Office
E hello@precinct.co.nz Level 12, 188 Quay Street, Auckland 1010 T 0800 400 599 Generator, 30 Waring Taylor Street, Wellington T 0800 400 599
W www.precinct.co.nz PO Box 5140, Auckland 1141, New Zealand F +64 9 927 1655 PO Box 2, Wellington 6140, New Zealand F +64 4 494 2267
We will begin with reviewing the performance and activity of Precinct over the last
financial year. Following the conclusion of the presentation, we will then take any
questions you may have. We will start with any in-person questions before moving to
any online questions received. We welcome any feedback and will consider any
other matters that may properly be brought before the meeting today.
The meeting will then proceed to the formal business where we have six resolutions to
consider and are being put forward for shareholder approval today. There are four
resolutions for Precinct Properties New Zealand Limited including one special
resolution, and two resolutions for Precinct Properties Investments Limited which also
includes one special resolution.
In summary and detailed in the Notice of Meeting sent to shareholders last month,
resolutions today will consider the election of Chris Meads as an Independent Director,
proposed changes to director remuneration, fixing the remuneration of Ernst & Young
as auditor for the ensuing year and minor amendments to the constitution for each of
Precinct Properties New Zealand Limited and Precinct Properties Investments Limited.
As you will all be aware, this is the first Annual Meeting of Shareholders since Precinct
moved to a stapled company structure.
Receiving both shareholder and Board approvals earlier this year demonstrates the
support for our business and for Precinct to continue to execute its long-term strategy
while retaining the benefits of the Portfolio Investment Entity (PIE) regime.
Before we move to some of our highlights this year, I would like to give a brief update
on Board changes which have resulted from the progress we have made across our
succession planning. I would also like to provide a bit more detail on Resolution two
which considers proposed changes to director remuneration.
As previously announced, following the conclusion of my current term I will be
stepping down today as Chair and Independent Director of Precinct with Anne Urlwin
to replace me as Chair of the Precinct Board.

Precinct Properties New Zealand Limited Head Office Wellington Office
E hello@precinct.co.nz Level 12, 188 Quay Street, Auckland 1010 T 0800 400 599 Generator, 30 Waring Taylor Street, Wellington T 0800 400 599
W www.precinct.co.nz PO Box 5140, Auckland 1141, New Zealand F +64 9 927 1655 PO Box 2, Wellington 6140, New Zealand F +64 4 494 2267
The People and Performance Committee agreed that Anne is the best replacement
for the Chair of Precinct and believe Anne has the right skills and experience to ensure
a seamless transition and handover. Since her appointment to the Precinct Board in
2019, Anne has been Chair of the Audit and Risk Committee and has made a
significant contribution to Precinct’s governance regime. At the end of the
presentation after the shareholder questions and answers session, I will invite Anne up
to say a few words in her capacity as incoming Chair.
We are also delighted to have recently appointed Chris Meads as an Independent
Director. Chris is an experienced professional and has worked in banking and funds
management across Asia Pacific including more recently his role as Chief Investment
Officer of Pantheon Ventures, based in Hong Kong. Chris will address you all later
today and provide a bit more detail on his background before voting on his election.
As I mentioned earlier in our introductions, Alana Barron joins Precinct as its first Future
Director for a one-year term starting on 13 November 2023. Alana is a capital markets
professional with 20 years’ experience in New Zealand, Australia, Hong Kong and the
United States.
Administered by the Institute of Directors, the Future Directors Programme is designed
to help identify and grow the next generation of directors in New Zealand, including
recognising talented executives who are interested in developing governance
skills. We are pleased to join this programme as part of our commitment to helping
ensure New Zealand has a greater pool of governance talent to draw from.
Moving to the proposed changes to Director remuneration.
As you will recall, the Precinct Board last proposed an increase in Directors’
remuneration in 2021. Since then, the regulatory landscape has continued to change.
There is increased regulatory risk and obligations resulting in increased demand on
Directors’ time and broadened scope of responsibilities.

Precinct Properties New Zealand Limited Head Office Wellington Office
E hello@precinct.co.nz Level 12, 188 Quay Street, Auckland 1010 T 0800 400 599 Generator, 30 Waring Taylor Street, Wellington T 0800 400 599
W www.precinct.co.nz PO Box 5140, Auckland 1141, New Zealand F +64 9 927 1655 PO Box 2, Wellington 6140, New Zealand F +64 4 494 2267
In line with Precinct’s policy to engage an external review of director remuneration
every two years, the Company engaged independent advisors PwC to provide
remuneration benchmark data in considering the proposed changes to director
remuneration in Resolution two.
Following this review, the Precinct Board reviewed this benchmark data and, based
on a comparison of the Precinct Directors’ fees to the market, consider the proposed
increases to the Directors’ remuneration are appropriate, fair and reflective of market
conditions. The Board considers that alignment of Directors’ fees to market is important
in order for Precinct to be able to continue to attract and retain high performing
Directors whose skills and experience are well-suited to our requirements. Ensuring an
effective governance structure to oversee Precinct’s long-term strategy on behalf of
you, our shareholders, is an ongoing priority.
Moving to our 2023 highlights. The last financial year has seen Precinct successfully
advance a number of transactions. These transactions have further reinforced the
quality of our business and the leading position we hold in our markets.
Notably the business has achieved high occupancy of 99% across its portfolio with
Precinct's 2023 financial year result being underpinned by significant leasing and
market rental growth achieved during the period. This has resulted in net property
income of $130.2 million for the year which contributed to net operating income
before tax of $102.1 million, a year-on-year increase of 7.1%.
Key strategic initiatives include $1.6 billion of capital partnerships established, which
Scott will provide more detail on later in the presentation.
In addition, Precinct has settled $680 million of asset sales which includes 40 and 44
Bowen Street and more recently, the issue of $150 million subordinated convertible
notes. The notes have provided Precinct both strategic and capital management
benefits. It has further strengthened our balance sheet and allows Precinct to
advance our partnership strategy.

Precinct Properties New Zealand Limited Head Office Wellington Office
E hello@precinct.co.nz Level 12, 188 Quay Street, Auckland 1010 T 0800 400 599 Generator, 30 Waring Taylor Street, Wellington T 0800 400 599
W www.precinct.co.nz PO Box 5140, Auckland 1141, New Zealand F +64 9 927 1655 PO Box 2, Wellington 6140, New Zealand F +64 4 494 2267
Precinct’s active approach to both asset and capital management, as well as its
third-party capital strategy is expected to support Precinct’s outlook.
Before I declare the first quarter dividends for FY24 and hand over to Scott, I would like
to share the progress we continue to make across our ESG responses.
During the year, Precinct has progressed strategies to reduce our negative impacts
and scale positive impacts informed by our material topics. In particular, climate
change. Precinct’s commitment to the World Green Building Council Net Zero Carbon
Buildings Commitment will see us achieve net-zero carbon emissions for all buildings
under our direct operational control by 2030. Precinct has offset construction-related
emissions for several years now and will continue to procure high quality verified offsets
to help us meet our net-zero targets. However, we acknowledge that the priority must
be on decarbonising our activities through the sustainable design of buildings,
products, processes and supply chains.
Another key area of focus for the ESG Committee over the last year has been
preparing Precinct for compliance with the External Reporting Board's (XRB) Aotearoa
New Zealand Climate Standards in FY24. Precinct has voluntarily prepared interim
climate-related disclosures in this year’s Annual Report to support transparency
towards compliance with XRB’s NZ CS1 Standards. Precinct will apply the full CS 1
standard in its FY24 Annual Report.
Precinct continues to perform well across its key ESG performance benchmarks.
As previously announced with our full year results, Precinct achieved a Global Real
Estate Sustainability Benchmark (GRESB) score during the year of 82 which was above
the global average of 74.
Today, we are extremely proud to share our most recent 2023 GRESB result. Precinct
improved its score to 86 which is well above the current global average of 75. This is a
great result and reflects the continued progress Precinct is making across our ESG

Precinct Properties New Zealand Limited Head Office Wellington Office
E hello@precinct.co.nz Level 12, 188 Quay Street, Auckland 1010 T 0800 400 599 Generator, 30 Waring Taylor Street, Wellington T 0800 400 599
W www.precinct.co.nz PO Box 5140, Auckland 1141, New Zealand F +64 9 927 1655 PO Box 2, Wellington 6140, New Zealand F +64 4 494 2267
targets, and of course the significant amount of work undertaken by the entire
Precinct team to achieve this score.
Precinct has also validated its Toitū carbonzero certification for the year and again
participated in the Carbon Disclosure Project (CDP) with results due in the coming
months.
Now moving to the FY24 dividends.
While there is no change in the underlying assets represented by your shareholding
following the corporate restructuring of Precinct into a stapled group, Shareholders
will now receive a PIE dividend for Precinct Properties New Zealand Limited and a
separate dividend for Precinct Properties Investment Limited.
The Board expects total combined cash dividends for Precinct Properties New
Zealand Limited and Precinct Properties Investment Limited for the 2024 financial year
to be 6.75 cents per stapled security to be paid to shareholders.
Payment of the 2024 first quarter dividends for Precinct Properties New Zealand
Limited and Precinct Properties Investment Limited will be made on the 15th of
December this year.
On behalf of my Board colleagues, thank you all for joining us today.
Nga Mihi Nui. I will now hand over to Scott.

Precinct Properties New Zealand Limited Head Office Wellington Office
E hello@precinct.co.nz Level 12, 188 Quay Street, Auckland 1010 T 0800 400 599 Generator, 30 Waring Taylor Street, Wellington T 0800 400 599
W www.precinct.co.nz PO Box 5140, Auckland 1141, New Zealand F +64 9 927 1655 PO Box 2, Wellington 6140, New Zealand F +64 4 494 2267
Scott Pritchard, Chief Executive Officer – opening speech
E ngā mana
E ngā waka
E nga reo
E rau Rangatira mā
Tēnā koutou
Tēnā koutou
Tēnā Tātoua Katoa
Thank you, Craig, and good morning everyone, welcome to the 2023 Annual Meeting
of Shareholders. I am Scott Pritchard, Precinct’s Chief Executive Officer.
As Craig mentioned earlier, the 2023 financial year has seen our business progress and
advance all aspects of our strategy in the period, a strategy which has evolved
particularly over the last couple of years.
The business continues to evolve supported by its premium quality investment portfolio
and supportive occupier markets. Through our market position and the teams
expertise we have extended our capital partnerships with direct investors on our assets
and in our projects, and have sourced new development opportunities.
We have established a residential development platform in partnership with Lamont
& Co. which has extended our real estate offering and is supporting Precinct’s strategy
focused on mixed-use precincts.
Our investment partnerships continue to demonstrate the strong demand for joint
investment into our high-quality assets and large-scale development projects.
The next slide summarises our capital partnering to date.

Precinct Properties New Zealand Limited Head Office Wellington Office
E hello@precinct.co.nz Level 12, 188 Quay Street, Auckland 1010 T 0800 400 599 Generator, 30 Waring Taylor Street, Wellington T 0800 400 599
W www.precinct.co.nz PO Box 5140, Auckland 1141, New Zealand F +64 9 927 1655 PO Box 2, Wellington 6140, New Zealand F +64 4 494 2267
During the year, we advanced Precinct’s partnership with Singaporean sovereign
wealth fund GIC with the sale of 75% of the Wynyard Quarter Stage 3 development
project. We also agreed a new investment partnership with global private investment
firm, PAG which has been another key transaction during the 2023 financial year.
More recently, Precinct has also announced it has formed a joint venture with Ngāti
Whātua Ōrākei, to invest in the regeneration of the Te Tōangaroa precinct in
Auckland city centre. Precinct’s investment will be in partnership with global private
investor, PAG.
The Te Tōangaroa portfolio comprises two low-rise commercial buildings situated at 8
Tangihua Street and 30 Mahuhu Crescent, totalling approximately 22,000 square
metres.
By investing alongside capital partners we create alignment, and by being a local
partner with deep market knowledge we aim to provide our partners with superior
investment performance. The key benefit for Precinct is an improved return on equity.
We can use our balance sheet more effectively and participate in a greater range of
value-add activities alongside our capital partners.
Moving to key themes.
We have delivered on our strategy of growing our capital partnerships to around $1.6
billion over the last 12 months.
The occupier market for premium-grade space continues to perform well with
material rental growth and growing demand. Occupiers are prioritising their
workspace in an effort to attract workers back to their office.
Despite this demand, with further increases in interest rates during the year, valuations
have come under pressure as capitalisation rates have expanded.
I would now like to share some of our 2023 portfolio highlights with you.

Precinct Properties New Zealand Limited Head Office Wellington Office
E hello@precinct.co.nz Level 12, 188 Quay Street, Auckland 1010 T 0800 400 599 Generator, 30 Waring Taylor Street, Wellington T 0800 400 599
W www.precinct.co.nz PO Box 5140, Auckland 1141, New Zealand F +64 9 927 1655 PO Box 2, Wellington 6140, New Zealand F +64 4 494 2267
Our investment portfolio remains in very good shape with occupancy across our assets
at 99%, a long weighted average lease term of six years, and rental growth of around
14% in the year.
In total, we recorded 53,000 square metres of leasing completed in the 2023 financial
year, demonstrating the strong demand from businesses wanting to occupy high-
quality office space.
Moving to a summary of our development portfolio.
In total, we have 74,000 square metres of development projects under construction
valued at over $1.0 billion. Pleasingly, across these developments pre-leasing has
been advanced to now sit at 90%.

Over the past six years Precinct has successfully completed $1.8 billion in development
projects, the most recent completions being Bowen Campus Stage 2 and Willis Lane,
both in Wellington.
The commencement of 61 Molesworth Street in Wellington and 117 Packenham Street
at Wynyard Quarter in Auckland have replenished our development pipeline with
further smaller residential projects anticipated to start later this year.
The next slide shows some images of our current development projects.

The next development completion that we anticipate will be 1 Queen Street. We are
expecting practical completion now in early 2024.
We believe our ability to continue to create premium-grade real estate through our
developments is a key feature in growing our capital partnerships into the future.
The following slide shows some images of the residential development platform of
Lamont and Co.

Precinct Properties New Zealand Limited Head Office Wellington Office
E hello@precinct.co.nz Level 12, 188 Quay Street, Auckland 1010 T 0800 400 599 Generator, 30 Waring Taylor Street, Wellington T 0800 400 599
W www.precinct.co.nz PO Box 5140, Auckland 1141, New Zealand F +64 9 927 1655 PO Box 2, Wellington 6140, New Zealand F +64 4 494 2267
The multi-unit residential developments are a natural extension to Precinct’s strategy,
providing competitive and diversification benefits to future investment opportunities.
Through our joint venture with Lamont and Co. we have one residential project to
complete at the end of this year and we have commenced one project in New
Market and one in Onehunga, encompassing a total of 183 apartments.
Looking ahead, our business is well positioned, and we will continue to explore
opportunities to scale our capital partnerships which support Precinct’s outlook.
While the New Zealand economy is facing rising interest rates and global uncertainty,
we are committed to managing our market position and ensuring our balance sheet
remains in a strong position.
We are supported by the strength of our office markets here in Auckland and
Wellington with workers now back in the office and the demand for premium-grade
space remaining robust.
To conclude, it’s been an incredibly busy twelve months with progress made across
all fronts of our business. The quality and effort put in by those in our organisation has
been outstanding. I would like to again acknowledge the huge contribution our
people continue to make to the success of Precinct. I would also like to thank our
Board of Directors for their ongoing governance of Precinct.
And of course, Craig, before I hand back to you. On behalf of Precinct's Management
team, we would like to again thank you for the significant contribution you have made
to Precinct during the time you have served on the Precinct Board.
Since joining in 2010, Craig you have been an exceptional Chair and played a key
role in the success of our business over the years. Craig you have truly been
instrumental in the direction of Precinct through your governance leadership which
includes a corporatisation in 2010, and more recently leading the challenging task of
internalising our management function for the business in 2021 and seeing Precinct
move to a stapled group structure in July of this year.

Precinct Properties New Zealand Limited Head Office Wellington Office
E hello@precinct.co.nz Level 12, 188 Quay Street, Auckland 1010 T 0800 400 599 Generator, 30 Waring Taylor Street, Wellington T 0800 400 599
W www.precinct.co.nz PO Box 5140, Auckland 1141, New Zealand F +64 9 927 1655 PO Box 2, Wellington 6140, New Zealand F +64 4 494 2267
Personally, Chair, I’ve appreciated your support and guidance. Craig, you are
respected by your peers, and we wish you all the very best for the next phase of your
career. 
Thanks everyone for joining us today.
Huri noa i te whare
Tēnā Koutou
Tēnā Koutou
Tēnā Tātou Katoa
-ends-

---

14 November 2023
Annual Meeting of
Shareholders

Welcome
and good morning
Craig Stobo,
Independent Director and
Chair

Online questions and voting
•Questions can now be
submitted through the
webcast
•Questions will be addressed
at relevant time in meeting
•Opening of voting

Board and Executive Team
Board of Directors
Nicola Greer
Independent Director
Mark Tume
Independent Director
Chris Judd
Independent Director
Future Director
Alana Barron
Executive Team
George Crawford
Deputy Chief Executive Officer
Scott Pritchard
Chief Executive Officer
Richard Hilder
Chief Financial Officer
Craig Stobo
Independent Director and Chair
Anne Urlwin
Independent Director and incoming Chair
Graeme Wong
Independent Director
Chris Meads
Independent Director

Meeting agenda
•Review business performance and activity
•Shareholder questions and discussion.
•Consider and vote on six resolutions:
•Four Precinct Properties New Zealand Limited Resolutions
•Two Precinct Properties Investments Limited Resolutions

Stapled company structure
•Effective date of Stapling 1 July 2023
•Special shareholder meeting held in May 2023 with
99.92%of Shareholder votes received in favour
•Board approval was given in June 2023
•Allows Precinct to continue to execute its strategy
whilst retaining PIE status.

Board succession and changes
•Anne Urlwin appointed as Chair
− Replaces current Chair (Craig Stobo)
•Newly appointed Independent Director
− Chris Meads
•Majority of Independent Directors maintained
•Future Director Alana Barron joins Precinct

Director Remuneration
•Director remuneration last reviewed in 2021
•Regulatory landscape has continued to change,
with increased regulatory risk and obligations
•Full transparency of Director fees
•Engaged independent advisors PwC to provide
independent remuneration benchmarking of non-
executive director fees

2023results
highlights
99%
Portfolio occupancy

$102.1m
Operating income after tax
$130.2m
Net property income

Strategic initiatives
$1.6b
Capital partnerships established
Photo credit: Simon Devitt
$680m
Asset disposals
$150m
Subordinated convertible note

Sustainability at
Precinct
Sustainable development
is an imperative for New
Zealand and remains
central to Precinct's
business.

ESG responses
•Clear focus on progressing strategies to reduce our
negative impacts and scale positive impacts.
•Committed to the World Green Building Council Net
Zero Carbon Buildings Commitment and a target
that all assets be certified Green by 2030.
•Prepared interim climate-related disclosures,
supporting transparency towards compliance with
the Aotearoa New Zealand Climate Standards.

Current performance benchmarks
•GRESB score of 86
•Global average 75
•public disclosure level “A”
•Toitū carbonzero certified
•CDP results in coming months

6.75cents per stapled security
Total combined FY24 dividends guidance
for Precinct Properties New Zealand
Limited and Precinct Properties Investment
Limited
15 December 2023
FY24 Q1 dividends payment
FY24 dividends

The active management
of Precinct’s high-quality
portfolio is supporting
both the evolution and
execution of our
strategy.
Delivering on
Strategy

Introduction
•Extended Capital Partnerships
•Secured new development
opportunities
•Ensure Precinct remains a
market leader and retains key
talent

Capital Partnering to date
•Partnered with Singaporean
sovereign wealth fund GIC
•Established partnership with
private asset manager PAG
•Partnered with PAG to form a
Joint Venture with Ngāti Whātua
Ōrākei
Continued
execution
of strategy

Key themes
•Strong execution on strategy achieved to date
•Continued occupier demand for well-located, premium
quality office accommodation resulting in strong rental
growth
•Higher inflation and rising interest costs placing further
pressure on valuations
$1.6b
Capital partnerships (completion value)

Portfolio highlights
Photo credit: Simon Devitt
6.0years
Weighted average
lease term
99%
Portfolio
occupancy
53,000sqm
Leasing completed
in FY24
13.8%
Growth in contract
rents on new leases

Development overview
•Development projects under construction totals
74,000sqm valued at $1.0b
•Total of $1.8b of development completions since 2017,
with Bowen Campus Stage 2 and Willis Lane opened in
the period
•Development pipeline replenished in the period through
commitment to Wynyard Quarter Stage 3 and 61
Molesworth, and entry into the multi-unit residential
development market

Artist Impression – 61 Molesworth
Street
Wynyard Quarter Stage 3One Queen Street
Bowen House

Artist Impression – The Domain Collection
Artist Impression – FABRIC Stage 2

Conclusion and outlook
•Precinct supported by the strength of our office
markets in Auckland and Wellington
•Development pipeline remains robust
•Capital partnering has delivered a diverse source of
capital and improved return on equity
•While rising interest rates and global uncertainty
remain, Precinct look to leverage its market position

Shareholder Q&A

Anne Urlwin
Incoming Chair

Formal Business

Precinct
Resolution 1: Election of Director
That Chris Meads be
elected as a director of
Precinct Properties New
Zealand Limited
The Board unanimously
recommend that
shareholders vote in favour

Precinct
Resolution 2: Directors' Remuneration
That, in accordance with NZX Listing Rule
2.11.1, the amount payable to any person
who from time to time holds office as a
Director of Precinct be increased pursuant
to the per position sums shown in the
“Proposed Remuneration” column of the
table contained in explanatory note 2,
with effect from 14 November 2023

Precinct
Resolution 3: Auditor's Remuneration
That the directors be authorisedto fix the
remuneration of Ernst & Young as auditor
for Precinct Properties New Zealand
Limited for the ensuing year.

Precinct
Resolution 4: Minor alteration to
constitution of Precinct
That the constitution of Precinct Properties New
Zealand Limited is amended by deleting clause 4
of Schedule 2 and substituting the following:
4 Proxy form must be sent or made
available with notice
A proxy form must be sent or made available
with each notice of meeting.

Precinct Investments
Resolution 5: Auditor's Remuneration
That the directors be authorisedto fix the
remuneration of Ernst & Young as auditor for
Precinct Properties Investments Limited for the
ensuing year.

Precinct Investments
Resolution 6: Minor alteration to
constitution of Precinct Investments
That the constitution of Precinct Properties
Investments Limited is amended by deleting
clause 4 of Schedule 2 and substituting the
following:
4 Proxy form must be sent or made
available with notice
A proxy form must be sent or made available
with each notice of meeting.

Voting and closure
•We will now proceed to a poll and conclude the
meeting
•The results will be announced to the NZX

Thank you
Thank you