Allotment of Shares under the Dividend Reinvestment Plan

Capital Change Notice




Section 1: Issuer information
Name of issuer New Zealand Rural Land
Company Limited
NZX ticker code NZL
Class of financial product Ordinary Shares
ISIN (If unknown, check on NZX website) NZNZLE0001S2
Currency NZD
Section 2: Capital change details
Number issued/acquired/redeemed 1,113,802
Nominal value (if any) N/A
Issue/acquisition/redemption price per security $1.00
Nature of the payment (for example, cash or other
consideration)
Cash pursuant to the dividend
reinvestment plan dated 8
February 2022
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

0.7680%
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)
N/A
Reason for issue/acquisition/redemption and specific authority
for issue/acquisition/redemption/ (the reason for change must
be identified here)
Shares were issued pursuant
to the Dividend Reinvestment
Plan dated 8 February 2022 in
respect of the interim dividend
for FY25.
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.
146,138,526 ordinary shares in
NZL (Shares).
No Shares held as Treasury
Stock.
In the case of an acquisition of shares, whether those shares
are to be held as treasury stock
No
Specific authority for the issue, acquisition, or redemption,
including a reference to the rule pursuant to which the issue,
acquisition, or redemption is made
Dividend Reinvestment Plan
dated 8 February 2022 and
Board Resolution dated 20
February 2022.

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

Terms or details of the issue, acquisition, or redemption (for
example: restrictions, escrow arrangements)
The shares were issued
pursuant to the terms of the
Dividend Reinvestment Plan
dated 8 February 2022
Date of issue/acquisition/redemption
2
10/10/2025
Section 3: Authority for this announcement and contact person
Name of person

authorised to make this announcement R
ichard Milsom

Contact person for this announcement R
ichard Milsom

Contact phone number 021 274 2476
Contact email address richard@nzrlm.co.nz
Date of release through MAP

16/10/2025




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).