Performance Share Rights - Capital Change Notices

3 October 2024

Comvita Performance Share Rights lapse


Comvita Limited today announces the lapse of 227,340 Performance Share Rights on 3 October 2024
which were issued 30 September 2022 and 30 October 2023. There are 233,975 remaining
Performance Share Rights on issue.
Brett Hewlett
CEO

Ends.

For further information contact:
Jessica Sanders | Comvita
Mobile: +61 448 303 839
Email: Jessica.sanders@comvita.com

Background information
Comvita (NZX:CVT) was founded in 1974/5, with a purpose to heal and protect the world through the
natural power of the hive. With a team of 550+ people globally, united with more than 1.6 billion bees,
we are the global market leader in Mānuka honey and bee consumer goods. Seeking to understand, but
never to alter, we test and verify all our bee-product ingredients are of the highest quality in our own
government-recognised and accredited laboratory. We are growing scientific knowledge on Mānuka
trees, the many benefits of Mānuka honey and propolis and bee welfare. We have planted millions of
native trees, improving our natural ecosystems and biodiversity, and mitigating climate change in
conjunction with our focus on carbon emissions reduction, while helping ensure the supply of high quality
Mānuka honey. In 2023 Comvita was certified B Corp, a global community of like-minded companies that
strive to balance profit with purpose, seeking to use business as a force for good. Comvita has operations
in Australia, China, North America, Southeast Asia, and Europe – and of course, Aotearoa New Zealand,
where our bees are thriving.

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Capital Change Notice


Notice of issue of Performance Share Rights under the Comvita Limited (“CVT” or
“Company”) Performance Share Rights Scheme (“Scheme”). This notice is given under the
NZX Listing Rules 3.13.1 and 3.15.2 and relates to the conversion of performance share
rights (“PSR’s” into fully paid ordinary shares in CVT upon certain vesting conditions being
met under the Scheme.

Section 1: Issuer information

Name of issuer Comvita Limited
NZX ticker code CVT
Class of financial product Ordinary Shares
ISIN (If unknown, check on NZX website) NZCVTE0001S7
Currency New Zealand Dollars
Section 2: Capital change details

Number issued/acquired/redeemed 134,786 ordinary shares
Nominal value (if any) Not applicable
Issue/acquisition/redemption price per security Not applicable
Nature of the payment (for example, cash or other
consideration)
Not applicable
Amount paid up (if not in full) Not applicable
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

0.1917% of all Ordinary Shares
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)
Not applicable
Reason for issue/acquisition/redemption and specific
authority for issue/acquisition/redemption/ (the reason for
change must be identified here)
Issue of Ordinary Shares arising
from conversion of PSR’s issued to
Company Executives under the
Scheme to incentivise executives.
This issue represents one-third of
each participant’s entitlement under
the Scheme for the financial years
ended 30 June 2022 and 2023,
following vesting conditions being
met (with the PSRs to vest in future
years subject to vesting conditions
being met).

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

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.
99,189 total PSR’s
70,439,454 ordinary shares
0 treasury stock
In the case of an acquisition of shares, whether those
shares are to be held as treasury stock
Not applicable
Specific authority for the issue, acquisition, or redemption,
including a reference to the rule pursuant to which the
issue, acquisition, or redemption is made
Directors Resolution Listing
Rule 4.6.1
Terms or details of the issue, acquisition, or redemption (for
example: restrictions, escrow arrangements)
In accordance with the terms of the
Comvita Limited Performance
Share Rights Scheme
Date of issue/acquisition/redemption
2
3 October 2024
Section 3: Authority for this announcement and contact person
Name of person authorised to make this announcement Brett Hewlett
Contact person for this announcement Jessica Sanders
Contact phone number +61 448 303 839
Contact email address Jessica.sanders@comvita.com
Date of release through MAP 3 October 2024

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Capital Change Notice





Section 1: Issuer information
Name of issuer Comvita Limited
NZX ticker code CVT
Class of financial product Ordinary Shares
ISIN (If unknown, check on NZX website) NZCVTE0001S7
Currency NZD
Section 2: Capital change details
Number issued/acquired/redeemed 21,002
Nominal value (if any) Not applicable
Issue/acquisition/redemption price per security Not applicable
Nature of the payment (for example, cash or other
consideration)
Not applicable
Amount paid up (if not in full) Not applicable
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

0.0298%
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)
Not applicable
Reason for issue/acquisition/redemption and specific authority
for issue/acquisition/redemption/ (the reason for change must
be identified here)
Issue to Company employees
under the Comvita Limited
Performance Share Rights
Scheme
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.
70,460,456 ordinary shares
0 treasury stock

In the case of an acquisition of shares, whether those shares
are to be held as treasury stock
Not applicable
Specific authority for the issue, acquisition, or redemption,
including a reference to the rule pursuant to which the issue,
acquisition, or redemption is made
Directors Resolution
Listing Rule 4.6.1
Terms or details of the issue, acquisition, or redemption (for
example: restrictions, escrow arrangements)
In accordance with the terms of
the Comvita Limited
Performance Share Rights
Scheme
Date of issue/acquisition/redemption
2
3 October 2024

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

Section 3: Authority for this announcement and contact person
Name of person

authorised to make this announcement
Brett Hewlett

Contact person for this announcement
Jessica Sanders

Contact phone number
+61 448 303 839

Contact email address
Jessica.sanders@comvita.com

Date of release through MAP

3 October 2024

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Capital Change Notice



Notice of issue of Performance Share Rights under the Comvita Limited (CVT or Company)
Performance Share Rights Scheme This notice is given under the NZX Listing Rules 3.13.1 and
relates to the issuance of performance share rights which are convertible into fully paid ordinary
shares in CVT should certain vesting conditions and performance hurdles be met under CVT’s
Performance Share Rights Scheme.

Section 1: Issuer information
Name of issuer Comvita Limited
NZX ticker code CVT
Class of financial product Performance Share Rights, each
representing an entitlement to acquire
an ordinary share in CVT (“PSR’s”)
ISIN (If unknown, check on NZX website) NZCVTE0001S7
Currency New Zealand Dollars
Section 2: Capital change details
Number issued/acquired/redeemed 41,998 PSR’s
Nominal value (if any) Not applicable
Issue/acquisition/redemption price per security PSR’s issued under the Scheme for
nil consideration
Nature of the payment (for example, cash or other
consideration)
Not applicable
Amount paid up (if not in full) Not applicable
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

42.34% of PSR’s on issue, giving
rights in respect of ordinary shares
equal to 0.0596% of the total ordinary
shares 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)
The PSR’s are subject to a vesting
period of 2 years. Vesting is subject to
continued employment and occurs in
tranches (annually). Upon vesting of
the PSR’s, shares will be transferred
from treasury stock or new shares will
be issued in the capital of the
Company on the terms and conditions
described in the Comvita Limited
Performance Share Rights Scheme.
The shares will be transferred or
issued (as applicable) for no
consideration and will be credited as
fully paid up. One PSR will convert
into one ordinary share upon vesting
and will rank equally with all other
ordinary shares on issue.
PSRs do not entitle the holder to
receive dividends or other
distributions, or vote in respect of

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

CVT ordinary shares. Holders of
PSRs cannot transfer or grant
security interests over them.
Reason for issue/acquisition/redemption and specific
authority for issue/acquisition/redemption/ (the reason
for change must be identified here)
Offer to Company employees under
the Comvita Limited Performance
Share Rights Scheme to incentivise
executives.
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.
141,187 total PSR’s
70,460,456 ordinary shares
0 treasury stock
In the case of an acquisition of shares, whether those
shares are to be held as treasury stock
Not applicable
Specific authority for the issue, acquisition, or
redemption, including a reference to the rule pursuant
to which the issue, acquisition, or redemption is made
Directors Resolution
Listing Rule 4.6.1
Terms or details of the issue, acquisition, or redemption
(for example: restrictions, escrow arrangements)
In accordance with the terms of the
Comvita Limited Performance Share
Rights Scheme
Date of issue/acquisition/redemption
2
3 October 2024
Section 3: Authority for this announcement and contact person
Name of person

authorised to make this announcement
Brett Hewlett

Contact person for this announcement
Jessica Sanders

Contact phone number
+61 448 303 839

Contact email address
Jessica.sanders@comvita.com

Date of release through MAP

3 October 2024