Precinct Properties New Zealand Limited/Announcement

Precinct successfully completes $285 million Placement

Capital Raise13 October 2025PCTReal Estate

NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES

Precinct Properties New Zealand Limited Head Office Wellington Office
E hello@precinct.co.nz Level 12, 188 Quay Street, Auckland 1010 T 0800 400 599 Generator, 30 Waring Taylor Street T 0800 400 599
W www.precinct.co.nz PO Box 5140, Auckland 1141, New Zealand PO Box 2, Wellington 6140, New Zealand
NZX announcement – 14 October 2025
Precinct successfully completes $285 million Placement
Precinct Properties Group (Precinct) (NZX: PCT) is pleased to announce that it has successfully
completed the bookbuild for the fully underwritten $285 million placement (Placement) of
new stapled shares in Precinct (New Stapled Shares), as part of its $310 million equity raise
announced on 13 October 2025 (Equity Raise).
Scott Pritchard, Precinct’s CEO, said “We are pleased with the strong investment demand
and support shown by our existing shareholders, while also welcoming new institutional
investors to our share register. The successful equity raising reinforces investor confidence in
our business and long-term growth strategy.”
“We expect the funds raised will allow Precinct to progress $3.7 billion (Note 1) of opportunities
alongside capital partners while providing greater flexibility around funding timing and
structure to optimise shareholder returns. In doing this, Precinct expects to maintain a
balanced approach to gearing and liquidity management.”
The Placement was fully subscribed at the fixed price of $1.23 per New Stapled Share. This
represents a 7.5% discount to the last close price of $1.33 on 10 October 2025 and a 7.7%
discount to the five-day volume weighted average price of Precinct’s stapled shares (Stapled
Shares) traded on the NZX during the five NZX trading days up to and including 10 October
2025 of $1.3332.
Precinct undertook the Placement with the key objectives of treating existing shareholders in
eligible jurisdictions fairly and prioritising existing shareholders. All eligible shareholders who bid
for their pro rata allocation of the Equity Raise were allocated at least that amount of New
Stapled Shares.
Settlement, allotment and the commencement of trading of all New Stapled Shares issued
under the Placement is expected to occur on 17 October 2025. The New Stapled Shares to
be issued under the Placement will rank equally in all respects with Precinct’s existing Stapled
Shares on issue.

NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES

Precinct Properties New Zealand Limited Head Office Wellington Office
E hello@precinct.co.nz Level 12, 188 Quay Street, Auckland 1010 T 0800 400 599 Generator, 30 Waring Taylor Street T 0800 400 599
W www.precinct.co.nz PO Box 5140, Auckland 1141, New Zealand PO Box 2, Wellington 6140, New Zealand
billion of these were assets in which Precinct holds a minority interest; with the balance being managed on behalf
of third party partners. For more information visit: www.precinct.co.nz
On 1 July 2023, Precinct effected a restructuring to create a stapled group structure. A stapled group comprises
two listed parent companies whose shares are held by the same shareholders in equal proportions. The shares in
each parent company can only be transferred or dealt with together. Shareholders in Precinct hold an equal
number of shares in Precinct Properties New Zealand Limited and Precinct Properties Investments Limited and these
shares can only be dealt with together. The stapled issuers are described as “Precinct Properties NZ & Precinct
Properties Investments Ltd” on NZX systems and the ticker code for the Stapled Shares remains PCT.
NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES
This announcement has been prepared for publication in New Zealand and may not be
released or distributed in the United States. This announcement does not constitute an offer
to sell, or the solicitation of an offer to buy, any New Stapled Shares in the United States or in
any jurisdiction in which such an offer or solicitation would be illegal. The New Stapled Shares
have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended
(U.S. Securities Act) or under the securities laws of any state or other jurisdiction of the United
States, and may not be offered, sold or otherwise transferred, directly or indirectly, in the
United States or to any person acting for the account or benefit of a person in the United
States, except, in the case of the Placement, in transactions exempt from, or not subject to,
the registration requirements of the U.S. Securities Act and the securities laws of any state or
other jurisdiction of the United States. The New Stapled Shares may be offered and sold
outside the United States only in “offshore transactions” (as defined in Rule 902(h) under the
U.S. Securities Act) in reliance on Regulation S under the U.S. Securities Act.
You must not send copies of this announcement or any other material relating to the SPP to
any person in the United States or elsewhere outside New Zealand. The release, publication
or distribution of this announcement (including an electronic copy) outside New Zealand may
be restricted by law. If you come into possession of this announcement, you should observe
such restrictions. Any non-compliance with these restrictions may contravene applicable
securities laws.

NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES

Precinct Properties New Zealand Limited Head Office Wellington Office
E hello@precinct.co.nz Level 12, 188 Quay Street, Auckland 1010 T 0800 400 599 Generator, 30 Waring Taylor Street T 0800 400 599
W www.precinct.co.nz PO Box 5140, Auckland 1141, New Zealand PO Box 2, Wellington 6140, New Zealand
Future performance
This announcement contains forward looking statements, including “forward looking
statements” within the meaning of Section 27A of the U.S. Securities Act, Section 21E of the
United States Securities Exchange Act of 1934 and the United States Private Securities
Litigation Reform Act of 1995. These forward-looking statements are not historical facts but
rather are based on Precinct’s current expectations, estimates and projections about the
industries in which it operates, and beliefs and assumptions. Forward looking statements can
generally be identified by the use of forward looking words such as “anticipate“,
“approximate”, “believe“, “expect“, “project“, “forecast“, “estimate“, “foresee”, “likely“,
“intend“, “should“, “will“, “could“, “may“, “target“, “aim”, “plan“ and other similar expressions
within the meaning of securities laws of applicable jurisdictions, and include statements
regarding outcome and effects of the Equity Raise. Indications of, and guidance or outlook
on, future earnings, distributions or financial position or performance are also forward-looking
statements.
Forward-looking statements, opinions and estimates provided in this announcement are
based on assumptions and contingencies that are subject to change without notice and
involve known and unknown risks, uncertainties, assumptions, contingencies and other
factors, many of which are beyond the control of Precinct and its related bodies corporate
and affiliates and each of their respective directors, securityholders, officers, employees,
partners, agents, advisers and management, are difficult to predict and could cause actual
results to differ materially from those expressed or forecasted in the forward-looking
statements. This includes statements about market and industry trends, which are based on
interpretations of market conditions.
Precinct cautions shareholders and prospective shareholders not to place undue reliance on
these forward-looking statements, which reflect Precinct’s views only as of the date of this
announcement. There can be no assurance that actual outcomes will not differ materially
from these forward-looking statements. Forward-looking statements are provided as a
general guide only and should not be relied on as an indication or guarantee of future
performance. Actual results, performance or achievements may differ materially from those

NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES

Precinct Properties New Zealand Limited Head Office Wellington Office
E hello@precinct.co.nz Level 12, 188 Quay Street, Auckland 1010 T 0800 400 599 Generator, 30 Waring Taylor Street T 0800 400 599
W www.precinct.co.nz PO Box 5140, Auckland 1141, New Zealand PO Box 2, Wellington 6140, New Zealand
expressed or implied in those statements and any projections and assumptions on which these
statements are based.
These statements may assume the success of Precinct’s business strategies, the success of
which may not be realised within the period for which the forward-looking statements may
have been prepared, or at all.
No guarantee, representation or warranty, express or implied, is made as to the accuracy,
likelihood of achievement or reasonableness of any forecasts, prospects, returns, statements
or tax treatment in relation to future matters contained in this announcement.
These forward-looking statements speak only as of the date of this announcement, and
except as required by applicable laws or regulations, Precinct, its representatives or advisers
do not undertake to publicly update or revise any forward-looking statement or other
statements in this announcement, whether as a result of a change in expectations or
assumptions, new information, future events, results or circumstances. Past performance and
pro forma historical financial information is given for illustrative purposes only. It should not be
relied on and it is not indicative of future performance, including future security prices.
Important Notice
This announcement does not constitute investment or financial product advice, nor is it a
recommendation to acquire New Stapled Shares. It is not intended to be used as the basis for
making a financial decision, nor is it intended to constitute legal, tax, accounting or other
advice. You should make your own enquiries and investigations regarding any investment,
and should seek your own professional advice on the legal, financial, accounting, taxation
and other consequences of investing in Precinct.
This announcement is not a prospectus, product disclosure statement or any other disclosure
or offering document under New Zealand law or any other law. This announcement is for
information purposes only and is not an invitation or offer of securities for subscription,
purchase or sale in any jurisdiction and neither this announcement nor anything in it shall form
any part of any contract for the acquisition of New Stapled Shares.

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