Issue of ordinary shares and performance rights

NZX Limited
Level 1, NZX Centre
11 Cable Street
PO Box 2959
Wellington 6140
New Zealand
Tel +64 4 472 7599

www.nzx.com

21 March 2024

Issue of ordinary shares and performance rights to employees of NZX Limited
(NZX)

NZX advises that it has issued $1,000 of ordinary shares (gross of tax) in NZX to each of its
permanent employees as at 7 February 2024 who have joined or become permanent
employees of NZX since 7 February 2023.

NZX advises that it has issued performance rights to the members of its executive and
management teams pursuant to NZX’s Long Term Incentive Plan (LTI). The performance rights
give the holder options to acquire ordinary shares in NZX, which may be exercised if the
performance rights vest. The vesting period for the performance rights is 1 January 2024 to 31
December 2026. NZX operates two LTI programmes that each vest over three years, one
based on retention for middle to senior managers, and one based on total shareholder returns
(TSR) (for senior executives). Further information on the LTI programmes is available in the
annual report.

NZX also advises that a portion of the performance rights issued to the members of its
executive and management teams in 2021 have vested. These vested performance rights give
the holder the options to acquire ordinary shares in NZX. NZX has issued ordinary shares to
each holder that has exercised the options. NZX also confirms that 365,412 of performance
rights relating to earnings per share (EPS) and TSR-based LTI lapsed on 31 December 2023.


The total number of ordinary shares on issue is now 324,518,701.

The total number of performance rights on issue is now 5,749,878.


The attached information is supplied pursuant to NZX Listing Rule 3.13.1.

For further information, please contact:

Simon Beattie
GM Corporate Affairs & Sustainability
Mobile: + 64 21 702 694
Email: simon.beattie@nzx.com

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NZX Limited
Level 1, NZX Centre
11 Cable Street
PO Box 2959
Wellington 6140
New Zealand
Tel +64 4 472 7599

www.nzx.com
Page 1 of 2
21 March 2024
Notice of issue of ordinary shares to employees of NZX Limited (NZX)

This notice is given under NZX Listing Rule 3.13.1 and relates to the issue of $1,000 of ordinary
shares (gross of tax) in NZX to every permanent employee of NZX (full-time and part-time) as at
7 February 2024 who has joined or become a permanent employee of NZX since NZX's
previous issue of $1,000 of ordinary shares to employees as at 7 February 2023 (
Specified
Employees
).

Section 1: issuer information
Name of issuer NZX Limited
NZX ticker code NZX
Class of Financial Product NZX Limited Ordinary Shares
ISIN NZNZXE0001S7
Currency NZD
Section 2: capital change details
Number issued 52,679
Nominal value (if any) N/A
Issue price No consideration is payable for the issue of the NZX
Limited Ordinary Shares
Nature of the payment N/A
Amount paid up Fully paid
Percentage of total class of Financial
Products issued
0.0162% (as a percentage of NZX Limited Ordinary
Shares in existence immediately prior to this issue
and the issue of 260,656 NZX Ordinary Shares to
participants in the NZX Limited Employee Share
Plan, to four decimal places)
For an issue of Convertible Financial
Products or Options, the principal terms
of Conversion or the Option
N/A
Reason for issue and specific authority
for issue
The issue of the shares will: (1) increase the
engagement of Specified Employees; (2) encourage
cultural change in order to deliver on NZX's strategy;
and (3) align the interests of Specified Employees
with that of NZX's shareholders, by encouraging
them to think like shareholders.
Total number of Financial Products of
the Class after the issue and the total
number of Financial Products of the
Class held as Treasury Stock after the
issue.
324,518,701 NZX Limited Ordinary Shares (includes
the issue of 260,656 NZX Limited Ordinary Shares to
participants in the NZX Limited Employee Share
Plan)

No Treasury Stock held

Page 2 of 2

In the case of an acquisition of shares,
whether those shares are to be held as
treasury stock
No
Specific authority for the issue Resolution of directors dated 21 February 2024
Terms or details of the issue The terms of the issue of shares are: (1) Specified
Employees will be issued $1,000 (gross of tax) of the
NZX Limited Ordinary Shares in a one-off grant; (2)
Specified Employees will not be able to decline the
grant of shares; (3) the number of shares a Specified
Employee receives will be determined by reference
to the volume weighted average price of the NZX
Limited Ordinary Shares on the NZX Main Board
during the five business day period ending two days
prior to the issue date; (4) there will be no
performance, tenure or other requirement placed on
any Specified Employee in order to receive the
shares other than the requirement to still be
employed by the Company as at the date of issue;
(5) Specified Employees will not pay any
consideration, whether in cash in otherwise, for the
shares; and (6) there will be no restrictions on the
shares once they have been transferred to a
Specified Employee.
Date of issue 21 March 2024
Section 3: authority for this announcement
Name of person authorised to make this
announcement
Simon Beattie
GM Corporate Affairs & Sustainability
Contact person for this announcement Simon Beattie
GM Corporate Affairs & Sustainability
Contact phone number Mobile: + 64 21 702 694
Contact email address Simon.beattie@nzx.com
Date of release via MAP 21 March 2024

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NZX Limited
Level 1, NZX Centre
11 Cable Street
PO Box 2959
Wellington 6140
New Zealand
Tel +64 4 472 7599

www.nzx.com
Page 1 of 2
21 March 2024
Notice of issue of performance rights to employees of NZX Limited (NZX)
This notice is given under NZX Listing Rule 3.13.1 and relates to the issue of performance
rights to members of NZX’s executive and management teams pursuant to NZX’s Long Term
Incentive Plan.
Section 1: issuer information
Name of issuer NZX Limited
NZX ticker code NZX
Class of Financial Product Performance rights which give the holder options to
acquire NZX Limited Ordinary Shares.
ISIN N/A
Currency NZD
Section 2: capital change details
Number issued 1,764,117 performance rights

Nominal value (if any) N/A
Issue price No consideration is payable for the issue of the
performance rights
Nature of the payment N/A
Amount paid up N/A
Percentage of total class of Financial
Products issued
44.2605% (as a percentage of performance rights in
existence immediately prior to this issue, but after the
cancellation of the performance rights issued in 2021
including the 485,516 which lapsed due to failure to
satisfy vesting conditions, to four decimal places)
The principal terms of Conversion or the
Option
Issue of performance rights pursuant to NZX’s Long
Term Incentive Plan. The performance rights give the
holder options to acquire NZX Limited Ordinary
Shares, which may be exercised if the performance
rights vest. An executive team member’s
performance rights will vest if NZX meets
performance hurdles in respect of its total return to
shareholders and/or any other specific hurdles for the
team member, and on the executive team member
remaining an employee of the NZX Group for the
duration of the three year vesting period. A
management team member’s performance rights will
vest on the management team member remaining an

Page 2 of 2

employee of the NZX Group for the duration of the
three year vesting period.
Reason for issue and specific authority
for issue
Issue of performance rights pursuant to NZX’s Long
Term Incentive Plan, as authorised by resolutions of
directors dated 21 February 2024 and 19 March
2024.
Total number of Financial Products of
the Class after the issue (excluding
Treasury Stock) and the total number of
Financial Products of the Class held as
Treasury Stock after the issue.
5,749,878 performance rights

No Treasury Stock held
In the case of an acquisition of shares,
whether those shares are to be held as
treasury stock
No
Specific authority for the issue Resolutions of directors dated 21 February 2024 and
19 March 2024
Terms or details of the issue See “The principal terms of Conversion or the
Option” above.
Date of issue 21 March 2024
Section 3: authority for this announcement
Name of person authorised to make this
announcement
Simon Beattie
GM Corporate Affairs & Sustainability
Contact person for this announcement Simon Beattie
GM Corporate Affairs & Sustainability
Contact phone number Mobile: + 64 21 702 694
Contact email address Simon.beattie@nzx.com
Date of release via MAP 21 March 2024

---

NZX Limited
Level 1, NZX Centre
11 Cable Street
PO Box 2959
Wellington 6140
New Zealand
Tel +64 4 472 7599

www.nzx.com
Page 1 of 2
21 March 2024
Notice of issue of ordinary shares to employees of NZX Limited (NZX)

This notice is given under NZX Listing Rules 3.13.1 and 3.15.2 and relates to the exercise of
performance rights and the issue of ordinary shares to members of NZX’s executive and
management teams pursuant to NZX’s Long Term Incentive Plan.
Section 1: issuer information
Name of issuer NZX Limited
NZX ticker code NZX
Class of Financial Product NZX Limited Ordinary Shares
ISIN NZNZXE0001S7
Currency NZD
Section 2: capital change details
Number issued 260,656
Nominal value (if any) N/A
Issue price No consideration is payable for the issue of the NZX
Limited Ordinary Shares
Nature of the payment N/A
Amount paid up Fully paid
Percentage of total class of Financial
Products issued
0.0804% (as a percentage of NZX Limited Ordinary
Shares in existence immediately prior to this issue
and the issue of 52,679 NZX Limited Ordinary
Shares to every permanent employee of NZX (full-
time and part-time) as at 7 February 2024 who has
joined or become a permanent employee of NZX
since NZX’s previous of $1,000 worth of ordinary
shares to employees as at 7 February 2023, to four
decimal places)
For an issue of Convertible Financial
Products or Options, the principal terms
of Conversion or the Option
N/A
Reason for issue and specific authority
for issue
NZX Limited Ordinary Shares issued on exercise of
performance rights issued on 15 March 2021,
pursuant to NZX’s Long Term Incentive Plan.
Total number of Financial Products of
the Class after the issue and the total
number of Financial Products of the
Class held as Treasury Stock after the
issue.
324,518,701 NZX Limited Ordinary Shares (includes
the issue of 52,679 NZX Limited Ordinary Shares to
every permanent employee of NZX (full-time and
part-time) as at 7 February 2024 who has joined or
become a permanent employee of NZX since NZX’s

Page 2 of 2

Listing Rule 3.15.2 – Options issued on 15 March 2021

The following details are provided for the purposes of NZX Listing Rule 3.15.2:

(a) Number of Financial Products converted and the number and class of Quoted Financial
Products into which they have been converted: 260,656 performance rights converted into
260,656 NZX Limited Ordinary Shares (the performance rights give the holder Options to
acquire NZX Limited Ordinary Shares, which may be exercised if the performance rights
vest).

(b) Interest or dividend conditions attaching to the Financial Products into which they have
been converted: None.

(c) Number of Financial Products of the same class remaining to be converted: 5,749,878
performance rights.
previous issue of $1,000 worth of ordinary shares to
employees as at 7 February 2023)
In the case of an acquisition of shares,
whether those shares are to be held as
treasury stock
No
Specific authority for the issue Resolution of directors dated 15 February 2021
Terms or details of the issue All NZX Limited Ordinary Shares issued rank equally
with the existing NZX Limited Ordinary Shares
Date of issue 21 March 2024
Section 3: authority for this announcement
Name of person authorised to make this
announcement
Simon Beattie
GM Corporate Affairs & Sustainability
Contact person for this announcement Simon Beattie
GM Corporate Affairs & Sustainability
Contact phone number Mobile: + 64 21 702 694
Contact email address Simon.beattie@nzx.com
Date of release via MAP 21 March 2024