SPH Notice - Osmium Partners, LLC

1
Disclosure of movement of 1% or more in substantial holding
or change in nature of relevant interest, or both
Sections 277 and 278, Financial Markets Conduct Act 2013
To ASX and NZX
and
To NZME Limited (NZM)
Relevant event being disclosed: Decrease of greater than 1% in substantial holding
Date of relevant event: 19 August 2025
Date this disclosure made: 20 August 2025
Date last disclosure made: 31 July 2024
Substantial product holder(s) giving disclosure
Full name(s): Osmium Partners, LLC
Summary of substantial holding
Class of quoted voting products: Ordinary shares
Summary for Osmium Partners, LLC
For this disclosure,—
(a) total number held in class: 10,433,513
(b) total in class: 187,899,804
(c) total percentage held in class: 5.553%
For last disclosure,—
(a) total number held in class: 12,265,394
(b) total in class: 186,680,461
(c) total percentage held in class: 6.570%
Details of transactions and events giving rise to relevant event
Details of the transactions or other events requiring disclosure:
Transaction Type Period Shares Consideration
On-market disposition 29/07/24 to 31/03/25 -1,496,523 NZ$1,579,476.41
On-market disposition 14/07/25 to 19/08/25 -335,358 AU$346,996.41

2

Details after relevant event
OSMIUM PARTNERS, LLC IS THE FUND MANAGER AND GENERAL PARTNER OF OSMIUM
CAPITAL, LP, OSMIUM CAPITAL II, LP, OSMIUM SPARTAN, LP, AND OSMIUM DIAMOND, LP
(THE FUNDS). JOHN H. LEWIS IS THE MANAGING MEMBER OF OSMIUM PARTNERS, LLC.
Nature of relevant interest(s):

(c) (a) (b)
Number of
Substantial Product Holder Current Registered ordinary shares Percentage Held
of relevant interest holders of securities held in Class
OSMIUM PARTNERS, LLC OSMIUM CAPITAL, LP
6,129,670 3.262%
OSMIUM PARTNERS, LLC OSMIUM CAPITAL II, LP
829,341 0.441%
OSMIUM PARTNERS, LLC OSMIUM SPARTAN, LP
2,553,925 1.359%
OSMIUM PARTNERS, LLC OSMIUM DIAMOND, LP
826,077 0.440%
JOHN H. LEWIS JOHN H. LEWIS
94,500 0.050%
TOTAL
10,433,513 5.553%

For that relevant interest,—
(a) number held in class: Please reference table above
(b) percentage held in class: Please reference table above
(c) current registered holder(s): Please reference table above
(d) registered holder(s) once transfers are registered: N/A
For a derivative relevant interest, also— N/A
(a) type of derivative: N/A
(b) details of derivative: N/A
(c) parties to the derivative: N/A
(d) if the substantial product holder is not a party to the derivative, the nature of the
relevant interest in the derivative: N/A
Additional information
Address(es) of substantial product holder(s): 5 ROSS AVENUE, SAN ANSELMO, CA
94960, USA
Contact details: JOHN H. LEWIS; 415-785-4044; JL@OSMIUMPARTNERS.COM
*Nature of connection between substantial product holders: N/A
*Omit if disclosure is made for only 1 substantial product holder.

3
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
*Disclosure has effect for purposes of directors’ and senior managers’ disclosure
N/A.
*Omit if inapplicable (see section 302 of the Financial Markets Conduct Act 2013).
Certification
I, JOHN H. LEWIS, 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.