SPH Notice – Steven Newman and NMC Trustees Limited

1
Disclosure of movement of 1% or more in substantial holding

Sections 277, Financial Markets Conduct Act 2013
To NZX Limited
and
To EROAD Limited

Relevant event being disclosed: Movement of 1% or more in substantial holding

Date of relevant event: 13 June 2025
Date this disclosure made: 19 June 2025
Date last disclosure made: 18 January 2024

Substantial product holder(s) giving disclosure
Full name(s): Steven Newman and NMC Trustees Limited as trustee of the NMC
Investment Trust

Summary of substantial holding
Class of quoted voting products: Ordinary shares in EROAD Limited (NZX Code: ERD)
(“EROAD”)

Summary for Steven Newman

For this disclosure, —
(a) total number held in class: 10,020,952
(b) total in class: 187,410,632
(c) total percentage held in class: 5.347%

For last disclosure, —
(a) total number held in class: 13,474,111
(b) total in class: 184,821,021
(c) total percentage held in class: 7.290%

Summary for NMC Trustees Limited as trustee of the NMC Investment Trust

For this disclosure, —
(a) total number held in class: 9,853,024
(b) total in class: 187,410,632
(c) total percentage held in class: 5.257%

2

For last disclosure, —
(a) total number held in class: 13,297,083
(b) total in class: 184,821,021
(c) total percentage held in class: 7.195%

Details of transactions and events giving rise to relevant event
Details of the transactions or other events requiring disclosure:

Over the period 26 February 2024 to the 30 May 2025, NMC Trustees Limited as trustee of
the NMC Investment Trust sold a total of 1,444,059 ordinary shares in EROAD (movement
of 0.771%) via on-market trades for total consideration received of A$1,348,759.78
(NZ$1,447,349.26 at an AUD:NZD exchange rate of $1.00:$1.0731).

On June 13, 2025, NMC Trustees Limited as trustee of the NMC Investment Trust sold a
total of 2,000,000 ordinary shares in EROAD via on-market trades for total consideration
received of A$2,820,000 (NZ$3,026,131.84 at an AUD:NZD exchange rate of
$1.00:$1.0731).

Details after relevant event
Details for Steven Newman
Nature of relevant interest(s): Steven Newman as registered holder and beneficial owner
of ordinary shares in EROAD.

For that relevant interest, —
(a) number held in class: 167,928
(b) percentage held in class: 0.090%
(c) current registered holder(s): Steven Newman
(d) registered holder(s) once transfers are registered: N/A

Nature of relevant interest(s): Steven Newman is the holder of 20% or more of the shares
in NMC Trustees Limited and has the power to control dealings and voting of ordinary
shares in EROAD held by NMC Trustees Limited as trustee of the NMC Investment Trust.
For that relevant interest, —
(a) number held in class: 9,853,024
(b) percentage held in class: 5.257%
(c) current registered holder(s): NMC Trustees Limited
(d) registered holder(s) once transfers are registered: Unknown

Nature of relevant interest(s): Steven Newman has the power to control the acquisition or
disposal of, and has the power to exercise or to control the exercise of, a right to vote the
shares held by Alexandra Ashley Newman, his daughter.

3
For that relevant interest, —
(a) number held in class: 5,700
(b) percentage held in class: 0.003%
(c) current registered holder(s): Alexandra Ashley Newman
(d) registered holder(s) once transfers are registered: N/A

Nature of relevant interest(s): Steven Newman has the power to control the acquisition or
disposal of, and has the power to exercise or to control the exercise of, a right to vote the
shares held by Henry James Newman, his son.

For that relevant interest, —
(a) number held in class: 3,400
(b) percentage held in class: 0.002%
(c) current registered holder(s): Henry James Newman
(d) registered holder(s) once transfers are registered: N/A

Details for NMC Trustees Limited as trustee of the NMC Investment Trust
Nature of relevant interest(s): NMC Trustees Limited is the registered holder of ordinary
shares in EROAD.

For that relevant interest, —
(a) number held in class: 9,853,024
(b) percentage held in class: 5.257%
(c) current registered holder(s): NMC Trustees Limited
(d) registered holder(s) once transfers are registered: Unknown

Additional information
Address(es) of substantial product holder(s):
91 Taylor Road, Waimauku, 0882, Auckland, New Zealand

Contact details:
Steven Newman Phone: +64 21 424 493 Email: steven.newman@orbtek.org

Nature of connection between substantial product holders: Steven Newman is the holder of
20% or more of the shares in NMC Trustees Limited and has the power to control dealings
and voting of shares held by NMC Trustees Limited as trustee of the NMC Investment
Trust.
Name of any other person believed to have given, or believed to be required to give, a
disclosure under the Financial Markets Conduct Act 2013 in relation to the financial
products to which this disclosure relates: N/A
Certification
I, Steven Newman, certify that, to the best of my knowledge and belief, the information
contained in this disclosure is correct and that I am duly authorised to make this disclosure
by all persons for whom it is made.