Heartland appoints CEO, advises of change to senior manager

Heartland Group Holdings Limited | NZX/ASX: HGH | PO Box 9919, Newmarket, Auckland 1149 | heartlandgroup.info

NZX/ASX release
23 September 2024

Heartland appoints CEO, advises of change to senior manager

Heartland Group Holdings Limited (Heartland) (NZX/ASX: HGH) is pleased to announce the
appointment of Andrew Dixson as Chief Executive Officer (CEO), subject to Reserve Bank of New
Zealand non-objection, effective 1 October 2024.

In April 2024, Jeff Greenslade indicated to the Board his intention to step down from his role as CEO
of Heartland by the end of this calendar year. Andrew’s appointment enables a thorough handover
to be completed sooner, allowing Jeff to retire earlier.

Jeff will retire from his role and all Heartland directorships on 30 September 2024. Andrew will
succeed Jeff as CEO of Heartland and be appointed a Non-Independent Non-Executive Director of
Heartland Bank Limited (Heartland Bank), effective 1 October 2024. Andrew joins strong leadership
across the group, which includes Heartland Bank CEO Leanne Lazarus and Heartland Bank Australia
Limited (Heartland Bank Australia) CEO Michelle Winzer.

Andrew, currently Group Chief Financial Officer, has been with Heartland since 2010. In his time at
Heartland, Andrew has been involved in all key parts of Heartland’s evolution, including the initial
merger in 2011, New Zealand bank registration in 2012 and Heartland’s listing on the NZX and ASX.
Andrew has also played a critical role in the execution of several major strategic acquisitions,
including the acquisition of the Reverse Mortgage businesses in 2014, StockCo Australia in 2022 and
Challenger Bank Limited (Challenger Bank) in 2024.

Heartland Chair, Greg Tomlinson, said Andrew’s appointment reflects the evolution of the business
since Heartland Bank’s acquisition of Challenger Bank – subsequently rebranded to Heartland Bank
Australia.

“The Board is confident in Andrew’s ability to lead Heartland in the next stage of its journey. This
next stage will be focused on capital allocation and an improved return on equity, of which Andrew
has proven his leadership in shaping Heartland’s funding strategy in both countries, and through his
involvement in complex structured finance transactions and a number of successful material capital
raises.”

Andrew’s focus as CEO will be on group strategy, investor relations, corporate finance, capital
allocation, and strategic and risk management oversight of each bank. The Group Chief Financial
Officer role will not be replaced.

This reflects a significant evolution of Heartland’s role as the parent company of two banks.
Heartland’s operations as parent company are now focused on those matters described above, and
a number of responsibilities have moved from Heartland to the respective banks. As such, the
Deputy Group CEO role has been disestablished and Chris Flood will finish with Heartland on 31
October 2024.

Chris first joined Heartland through a predecessor entity in 1997 and has held a number of senior
management positions at Heartland, including as CEO of Heartland Bank before he was appointed
Deputy Group CEO in August 2022.

Heartland Group Holdings Limited | NZX/ASX: HGH | PO Box 9919, Newmarket, Auckland 1149 | heartlandgroup.info
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Chris’ significant contribution to Heartland has included successfully leading the Motor Finance
business during Heartland's establishment in 2011, the integration and growth of Heartland's
Reverse Mortgage businesses in New Zealand and Australia, the development of Heartland Bank's
Livestock and Asset Finance divisions and the development of the Australian Livestock Finance
business following the StockCo Australia acquisition. For the past year, Chris has, alongside other
activities, led the integration planning of the Australian business and was briefly Acting CEO of
Heartland Bank Australia.

Greg Tomlinson said, “on behalf of the Board, I would like to express our sincere thanks to Chris for
his service to Heartland and acknowledge the value he has created for our shareholders. We wish
him all the best in his next endeavours”.

Pursuant to the NZX Listing Rules, Chris Flood will cease to be a senior manager of Heartland on 31
October 2024.

– ENDS –

The person who authorised this announcement:

Greg Tomlinson
Chair

For further information and media enquiries, please contact:

Nicola Foley
Group Head of Communications
+64 27 345 6809
nicola.foley@heartland.co.nz
Level 3, Heartland House, 35 Teed Street, Newmarket, Auckland, New Zealand