Issue of Performance Rights

My Food Bag Group Limited

My Food Bag Group Limited
NZCN 6113607


7 July 2025

NZX Code: MFB


MY FOOD BAG GROUP LIMITED – ISSUE OF PERFORMANCE RIGHTS

6,952,753 Performance Rights have been issued to certain senior employees of My Food Bag under the
long-term incentive component of My Food Bag's newly established variable reward plan. If and to the
extent the Performance Rights vest the holder may exercise an option to acquire ordinary shares in My
Food Bag. The extent to which the Performance Rights for each participant will vest depends on the
achievement of certain company performance and personal performance hurdles in respect of FY26. A
Capital Change Notice reflecting this grant accompanies this announcement. As set out in the notice,
there are now 13,274,338 Performance Rights on issue (after taking into account those Performance
Rights that have previously lapsed or been exercised).

Authorised by:
Louise Newsome
Chief Financial Officer

Ends

For investor or analyst queries, please contact:

Louise Newsome
+64 9 886 9840
ir@myfoodbag.co.nz

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Notice of issue of Performance Rights under the My Food Bag's Variable Reward Plan

This notice is given under NZX Listing Rule 3.13.1 and relates to the issue of Performance Rights to
certain senior employees under the long-term incentive component of My Food Bag's newly
established variable reward plan. If and to the extent the Performance Rights vest (based on the
achievement of certain vesting conditions) the holder may exercise an option to acquire ordinary
shares in My Food Bag.
Section 1: Issuer information
Name of issuer My Food Bag Group Limited
NZX ticker code MFB
Class of financial product Performance Rights, each
representing an entitlement
(upon vesting and exercise) to
acquire an ordinary share in My
Food Bag Group Limited
ISIN (If unknown, check on NZX website) N/A (the ISIN of MFB's ordinary
shares is NZMFBE0004S1)
Currency N/A
Section 2: Capital change details
Number issued/acquired/redeemed 6,952,753 Performance Rights
Nominal value (if any) N/A
Issue/acquisition/redemption price per security Nil – Performance Rights are
issued under the plan for no
consideration
Nature of the payment (for example, cash or other consideration) N/A
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)
1

109.98% of Performance Rights
on issue (as a percentage of the
Performance Rights in existence
immediately prior to the issue,
but after cancellation of those
Performance Rights issued which
have previously lapsed or have
been exercised).
If these Performance Rights vest
and are exercised, this would
equate to 2.77% of the ordinary
shares of My Food Bag Group
Limited currently on issue.
For an issue of Convertible Financial Products or Options, the
principal terms of Conversion (for example the Conversion price and
Issue of Performance Rights
pursuant to My Food Bag's

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

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)
variable reward plan for senior
employees. The Performance
Rights give the holder the right to
acquire ordinary shares in My
Food Bag Group Limited, which
may be exercised if and to the
extent the Performance Rights
vest. The extent to which the
Performance Rights for each
participant will vest depends on
the achievement of certain
company performance and
personal performance hurdles in
respect of FY26. The Performance
Rights are also subject to ongoing
retention, with 50% subject to
retention over a two-year vesting
period and 50% over a three-year
vesting period.
There is no amount payable by
the holder either on the grant of
the Performance Rights or in
relation to the issue of ordinary
shares if those Performance
Rights vest and are exercised.
Reason for issue/acquisition/redemption and specific authority for
issue/acquisition/redemption/ (the reason for change must be
identified here)
Issue of Performance Rights
pursuant to My Food Bag's
variable reward plan.
Board resolutions dated 17 June
2025 and permitted by NZX
Listing Rule 4.6.1.
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.
13,274,338 Performance Rights.
This does not include those
Performance Rights issued but
which have previously lapsed due
to a failure to satisfy the vesting
conditions.
There is no treasury stock.
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
Board resolutions dated 17 June
2025 and permitted by NZX
Listing Rule 4.6.1.
Terms or details of the issue, acquisition, or redemption (for
example: restrictions, escrow arrangements)
As above. Any ordinary share
issued on the vesting and
exercise of the Performance
Rights will be credited as fully
paid up and rank equally in all
respects with the other ordinary

shares of My Food Bag Group
Limited.
Date of issue/acquisition/redemption 7 July 2025
Section 3: Authority for this announcement and contact person
Name of person authorised to make this announcement
Louise Newsome, Chief Financial Officer
Contact person for this announcement
Louise Newsome, Chief Financial Officer
Contact phone number
+64 9 886 9840
Contact email address ir@myfoodbag.co.nz
Date of release through MAP
7 July 2025