PLP – Vineyard Property Valuation

PLP – Vineyard property valuation

2 April 2024

Consistent with the property valuation policy, Booster Investment Management Limited (Booster) as
manager of the Private Land and Property Portfolio (the wholesale fund into which the PLP invests) has
commissioned and received an independent valuation report for its viticulture related properties for
Hope, Nelson. These properties currently represent ~13% of the total value of the assets the fund holds.

The Manager has considered this report in conjunction with the independent valuer and has determined
that the valuation of the properties should be reduced by $0.6 million which represents 0.45% of the net
asset value (the unit price at which units are issued by the manager) per unit of the Fund as at 27 March
2024. The adjustment will reduce the most recent net asset value from $1.3475 per unit to $1.3414. The
adjustment will take effect immediately, and will be reflected in the unit price of 27 March 2024 (which
will be confirmed on Tuesday 2 April).

The valuation reduction reflects the valuer’s view of the open market value of the properties while also
recognising that the properties are committed to a viticultural lease until 2037 which has an impact on
the current assessment of value.

Booster has also commissioned a valuation review for its Hawkes Bay based vineyards and winery
buildings which represent 6% of the value of assets held by the Private Land and Property Portfolio). This
is anticipated to be received in the next week. The outcome of this valuation review is not known.


For more information, please contact:
Gary Scott
Company Secretary
Booster Investment Management Limited
04 8944300



About Booster
Booster Investment Management Limited (Booster) is the manager and issuer of the Fund, and part of
the Booster Group which has been helping New Zealanders save since 1998. The group currently
administers superannuation and investment funds of over $6 billion on behalf of more than 190,000 New
Zealanders.
PLP is a managed investment fund that invests in land and property-based investments by investing in
units in Booster’s Private Land and Property Portfolio. PLP only holds these units.
For more information, including a copy of the Product Disclosure Statement and the latest net asset value
per unit, please visit www.booster.co.nz