Capital Change Notice

Capital Change Notice

Updated as at February 2025



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 Black Pearl Group Limited
NZX ticker code BPG
Class of financial product Ordinary Shares (Shares)
ISIN (If unknown, check on NZX website) NZBPGE0004S2
Currency NZD
Section 2: Capital change details
Number issued/acquired/redeemed 3,350 Shares.
Nominal value (if any) N/A
Issue/acquisition/redemption price per security $0.75 per Share.
Nature of the payment (for example, cash or other
consideration)
Non-cash consideration provided in the
form of services rendered by key
personnel of BPG.
Amount paid up (if not in full) Fully paid.
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

0.0052%
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)
N/A
Reason for issue/acquisition/redemption and
specific authority for issue/acquisition/redemption/
(the reason for change must be identified here)
Issued upon the conversion of unquoted
Restricted Share Units in BPG (RSUs) in
accordance with BPG’s Key Personnel
Restricted Share Unit Plan Rules (RSU
Plan Rules) and each RSU participant’s
letter of invitation (Letter of Invitation).
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.
64,650,884

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

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
NZX Listing Rules 4.6 and 4.9.1(b) and
Board resolution per section 47 of the
Companies Act 1993.
Terms or details of the issue, acquisition, or
redemption (for example: restrictions, escrow
arrangements)
Pursuant to the exercise of RSUs under
the RSU Plan Rules and Letter of
Invitation.
Date of issue/acquisition/redemption
2
11/03/2025
Section 4: Authority for this announcement and contact person
Name of person

authorised to make this
announcement
Karen Cargill
Contact person for this announcement Karen Cargill
Contact phone number +64 21 135 5183
Contact email address karen.cargill@blackpearl.com
Date of release through MAP

11/03/2025




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).