Capital Change Notice - Unquoted Share Rights

Capital Change Notice

Updated as at June 2023

Section 1: Issuer information
Name of issuer Precinct Properties Group
NZX ticker code PCT
Class of financial product Unquoted Performance Share Rights
ISIN (If unknown, check on NZX website) NZAPTE0001S3
Currency New Zealand Dollars
Section 2: Capital change details
Number issued/acquired/redeemed
3,190,841 Performance Share Rights.
Nominal value (if any) N/A
Issue/acquisition/redemption price per security Performance Share Rights are issued
for nil consideration
Nature of the payment (for example, cash or other
consideration)
N/A
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

58.44% of all existing Performance
Share Rights
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)
Performance Share Rights convert on a
1:1 basis for nil consideration into fully
paid ordinary shares subject to
Precinct’s TSR and FFO performance
over a vesting period between 1 July
2024 and 30 June 2027, and the
participant’s continued employment
during the vesting period.
Performance Share Rights rank behind
Precinct’s ordinary shares, are non-
transferable, cannot be encumbered,
and have no voting or other share
rights. Rights are otherwise subject to
the terms of individual award
agreements and the rules of the
Precinct Employee Share Scheme
including that Rights lapse at the
Board’s discretion in the event of a
material breach of the participant’s
employment obligations, fraud or
dishonesty.
Shares will be issued on the first
trading day after vesting of the relevant
Performance Share Right.

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

Reason for issue/acquisition/redemption and specific
authority for issue/acquisition/redemption/ (the reason
for change must be identified here)
Issue of Performance Share Rights
under Precinct’s Employee Share
Scheme to align employees’ and
shareholders’ interests, promote
retention and facilitate and encourage
employee share ownership.
Authorised by a board resolution dated
27 August 2024.
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.
8,650,885 Performance Share Rights.

N/A
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
Board resolution dated 27 August 2024

NZX Listing Rule 4.6.1 and 4.9.1(b)
Terms or details of the issue, acquisition, or
redemption (for example: restrictions, escrow
arrangements)
No cash consideration is payable by
the participants on the grant of Rights
or on the issue of fully paid ordinary
shares following vesting of
Performance Share Rights. As noted
above, vesting of Performance Share
Rights is subject to continued
employment and satisfaction of certain
performance hurdles (as applicable).
Date of issue/acquisition/redemption
2
10 September 2024
Section 3: Authority for this announcement and contact person
Name of person

authorised to make this
announcement
Louise Rooney
General Counsel & Company Secretary
Contact person for this announcement Louise Rooney
Contact phone number (09) 222 0070
Contact email address louise.rooney@precinct.co.nz
Date of release through MAP

10/09/2024


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).