Recapitalisation Closes Oversubscribed, Raises $23.9m

5 Lady Fisher Place
East Tamaki
Auckland, 2013

PO Box 58 144
Botany
Manukau
Auckland, 2163

P 09 927 3000
F 09 914 3325




NZX.MPG, ASX.MPP

16 September 2025

Metro’s Recapitalisation Closes Oversubscribed, Raises $23.9 m

Metro Performance Glass Limited (Metro) (NZX: MPG/ASX: MPP) advises that it has successfully
completed its pro rata renounceable rights offer (Rights Offer), which closed oversubscribed. The
Rights Offer received total applications of $10.7 million, 120% of the amount sought.

The Rights Offer is part of Metro’s recapitalisation, which also includes a Top-up placement. As a
result of the Rights Issue being fully subscribed, the Top-up Placement to Amari Metals Australia Pty
Ltd (Amari) will raise $15 million to deliver their 51% shareholding and the total capital raised by
Metro will be $23.9 million, the maximum amount sought.

Overall, 67% of rights were exercised. Over-subscriptions were strong, with approximately $4.7m of
applications for the remaining $2.9m of available shares.

The strong level of support from Eligible Shareholders not only meant that scaling of the
oversubscriptions was required, but also that none of the underwriters were called upon to take up
their commitments. Directors are very pleased with the result and grateful to shareholders and
underwriters for their support.

Managing Director Simon Bennett stated ‘We are pleased with the shareholder support for the
capital raise. With 95% of shareholders supporting the proposal and 67% taking up their rights, this
is a positive vote of support for the business and the initiatives we are undertaking. We are grateful
for the support of underwriters who received no shares pursuant to their underwrite commitments
and were instrumental in achieving certainty in the recapitalisation.’

‘The recapitalisation, debt forgiveness and new 3-year banking package will see us more than halve
our bank debt. This will allow the business to focus on its continued turnaround in what continues to
be a challenging environment. We are pleased to have this process, which has taken 18 months,
behind us so we can continue to focus on delivering high levels of quality and service to our
customers and other stakeholders. We can close the chapter of investigating the sale of Australian
Glass Group and other non-bank refinancing options and now dedicate all our focus to the business
performance and growing shareholder value.’

The new shares offered are expected to be allotted and commence trading on Friday, 19 September
2025.

– ENDS –

2

For further information, please contact:

Shawn Beck, Chairman
Shawn.beck@metroglass.co.nz
+64 27 328 5135

Currency
Unless otherwise stated, all references to “$” are to the New Zealand dollar.

Not an offer of securities in the United States
This announcement has been prepared for publication in New Zealand and Australia and may not be
released to US wire services or distributed in the United States. This announcement does not
constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or any
other jurisdiction. Any securities described in this announcement have not been, and will not be,
registered under the US Securities Act of 1933 or the securities laws of any state or other jurisdiction
of the United States and may not be offered or sold in the United States except in transactions
exempt from, or not subject to, the registration requirements of the US Securities Act and applicable
US state securities laws.