Notice of Allotment of Options

Template
Capital Change Notice

Updated as at June 2023


Please do not amend or delete individual rows. As this template relates to prescribed content, changes to content
should only be made where it is clearly indicated that this is permitted, otherwise, if an Issuer considers a particular
element does not apply, mark the row as N/A, Any other changes to this prescribed form must first be approved by
NZX as required under NZX Listing Rule 3.26.1.

Section 1: Issuer information
Name of issuer Summerset Group Holdings
Limited
NZX ticker code SUM
Class of financial product Option to acquire ordinary shares
ISIN (If unknown, check on NZX website) N/A. The Options will not be
quoted.
Currency NZD
Section 2: Capital change details
Number issued/acquired/redeemed 64,379
Nominal value (if any) N/A
Issue/acquisition/redemption price per security N/A
Nature of the payment (for example, cash or other
consideration)
No consideration is payable in
accordance with the Summerset
Share Option Plan Rules.
Amount paid up (if not in full) N/A
Percentage of total class of Financial Products
issued/acquired/redeemed/ (calculated on the number of
Financial Products of the Class, excluding any Treasury
Stock, in existence)
1

3.7148% of all Options currently
on issue.

If, on vesting, all Options are
exercised, 0.0273% of the
ordinary shares in Summerset
Group Holdings Limited (based
on the number of ordinary shares
currently on issue).
For an issue of Convertible Financial Products or Options,
the principal terms of Conversion (for example the
Conversion price and Conversion date and the ranking of
the Financial Product in relation to other Classes of
Financial Product) or the Option (for example, the exercise
price and exercise date)
Subject to their continued
employment by Summerset and
the achievement of certain
performance hurdles, Option
holders will be able to exercise
the Options during one of the
following periods (depending on
the terms of their grant letter):
• 1 February 2027 to 31
August 2028;
• 1 February 2028 to 31
August 2029.

1
The percentage is to be calculated immediately before the issue, acquisition, redemption or Conversion.

The exercise price for the Options
is nil.
Reason for issue/acquisition/redemption and specific
authority for issue/acquisition/redemption/ (the reason for
change must be identified here)
The board of Summerset has
resolved to offer the Options to
selected employees in order to:
(a) reward and retain key
employees;
(b) drive longer-term performance
and alignment of incentives of
participants with the interests
of Summerset’s shareholders;
and
(c) encourage longer term
decision-making by
participants.
Total number of Financial Products of the Class after the
issue/acquisition/redemption/Conversion (excluding
Treasury Stock) and the total number of Financial Products
of the Class held as Treasury Stock after the
issue/acquisition/redemption.
1,797,414
In the case of an acquisition of shares, whether those
shares are to be held as treasury stock
N/A
Specific authority for the issue, acquisition, or redemption,
including a reference to the rule pursuant to which the issue,
acquisition, or redemption is made
Summerset Share Option Plan
Rules; Directors’ resolution dated
22 April 2024; Listing Rule 4.6.1.
Terms or details of the issue, acquisition, or redemption (for
example: restrictions, escrow arrangements)
As above. The Options have
been issued in accordance with
the terms of the Share Option
Plan Rules in the form approved
by the Board.
Date of issue/acquisition/redemption
2
1 May 2024
Section 3: Authority for this announcement and contact person
Name of person

authorised to make this announcement Robyn Heyman
Contact person for this announcement Robyn Heyman
Contact phone number +64 27 506 5562
Contact email address robyn.heyman@summerset.co.nz
Date of release through MAP

1 May 2024




2
Continuous issuers using this form in reliance on Rule 3.13.2, please indicate the period during which the relevant
issue/acquisition/redemptions were made (for example, 1 January 2019 to 31 January 2019).