Issue of options under the Skellerup Share Option Plan

Skellerup Holdings Limited
Capital Change Notice


Section 1: Issuer information
Name of issuer Skellerup Holdings Limited (Skellerup)
NZX ticker code SKL
Class of financial product Unquoted share options (Options),
convertible to Skellerup Holdings
Limited ordinary shares (Shares)
pursuant to Skellerup’s Share Option
Plan.
ISIN (If unknown, check on NZX website) N/A
Currency NZD
Section 2: Capital change details
Number issued/acquired/redeemed 1,000,000
Nominal value (if any) Nil
Issue/acquisition/redemption price per security Nil
Nature of the payment (for example, cash or other
consideration)
No consideration is payable for the
Options.
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)
The Options comprise 100% of the
financial products of that Class (being
the FY24 Grant).
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 exercise price for the Options is
NZD4.85 per Option (Exercise Price),
being the volume-weighted average
price of Shares on the NZX Main
Board for the twenty-trading day
period beginning on 19 August 2024.
Options vest if the holder remains
employed by Skellerup or a subsidiary
of Skellerup (as applicable) on the
vesting date of 1 September 2027.
Provided this condition is met, Option
holders may exercise their Options
within the period beginning on 1
September 2027 and ending on 1
November 2027.
Upon exercise, Option holders will be
issued one Share per Option
exercised. Alternatively, on exercise,
Option holders have the opportunity
to direct Skellerup to facilitate a
cashless (net settled) exercise by
issuing to the Option holder, such
number of Shares as is equal to the

difference between the market value
of a Share and the Exercise Price per
Option, multiplied by the number of
Options being exercised, and divided
by the market value of a Share.
The Options will lapse where the
participant ceases to be employed by
Skellerup on the vesting date (except
where the Board determines
otherwise).
Reason for issue/acquisition/redemption and specific authority
for issue/acquisition/redemption/ (the reason for change must
be identified here)
Issue of Options in the FY24 Grant
under Skellerup’s Share Option Plan
pursuant to a directors’ resolution
dated 19 September 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.
1,000,000 Options
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
Directors’ resolution dated 19
September 2024 and NZX Listing Rule
4.6.1.
Terms or details of the issue, acquisition, or redemption (for
example: restrictions, escrow arrangements)
Options do not entitle the holder to
receive dividends or other
distributions or vote in respect of
Shares.
Holders of Options cannot transfer or
grant security interests over their
Options without prior Board approval.
Date of issue/acquisition/redemption 3 October 2024
Section 3: Authority for this announcement and contact person
Name of person authorised to make this announcement Tim Runnalls
Contact person for this announcement Tim Runnalls
Contact phone number 027 807 5080
Contact email address tim.runnalls@skellerupgroup.com
Date of release through MAP 4 October 2024