Capital change notice - share rights plan

Kiwi Property Group Limited
Capital Change Notice
Name of issuerKiwi Property Group Limited
NZX ticker codeKPG
Class of financial productUnlisted Restricted Share Rights
ISINNZKPGE001S9
CurrencyNew Zealand Dollars
Number issued/acquired/redeemed104,166 issued
Nominal value (if any)Not applicable
Issue/acquisition/redemption price per securityNo cash consideration is payable
Nature of the payment (for example, cash or other consideration)Not applicable
Amount paid up (if not in full)Not applicable
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)
See terms of issue below
Reason for issue/acquisition/redemption and specific authority for
issue/acquisition/redemption/ (the reason for change must be identified here)
Restricted Share Rights issued pursuant
to the Kiwi Property Group Limited Share
Rights Plan.
236,034 unlisted Restricted Share Rights.
236,034 Ordinary Shares if all Restricted
Share Rights vest or are exercised.
There is no treasury stock.
In the case of an acquisition of shares, whether those shares are to be held as
treasury stock
Not applicable
Specific authority for the issue, acquisition, or redemption, including a reference to
the rule pursuant to which the issue, acquisition, or redemption is made
Authorised by board resolution dated 26
March 2025 and listing rule 4.6.
Terms or details of the issue, acquisition, or redemption (for example: restrictions,
escrow arrangements)
The Restricted Share Rights are subject to
a one-year vesting period from 4 August
2025 ("Vesting Period").
The number of Restricted Share Rights
are determined by dividing the grant value
by the closing share price of Kiwi
Property's shares traded on the NZX Main
Board on 4 August 2025.
Vesting is subject to the participant
continuing their employment with Kiwi
Property for the duration of the Vesting
Period.
Upon vesting, each Restricted Share Right
can be converted into one Ordinary Share
in Kiwi Property on exercise for no cash
payment.
The Restricted Share Rights cannot be
transferred.
Date of issue/acquisition/redemption[2]26 September 2025
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.
Section 1: Issuer information
Section 2: Capital change details
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]
78.99% of all existing Restricted Share
Rights

Name of person authorised to make this announcement
Steve Penney
Contact person for this announcementSteve Penney
Contact phone number+64 9 359 4025
Contact email addresssteve.penney@kp.co.nz
Date of release through MAP29 September 2025
[1] The percentage is to be calculated immediately before the issue, acquisition, redemption or Conversion.
[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).
Section 3: Authority for this announcement and contact person