Capital Change Notice – Placement

Capital Change Notice




Section 1: Issuer information
Name of issuer Precinct Properties Group
NZX ticker code PCT
Class of financial product A stapled security comprising one ordinary
share in Precinct Properties New Zealand
Limited and one ordinary share in Precinct
Properties Investments Limited, stapled so
that they may only be dealt with as a
single equity security (a Stapled Security).
ISIN NZAPTE0001S3
Currency New Zealand Dollars
Section 2: Capital change details
Number issued/acquired/redeemed 231,707,317 Stapled Securities
Nominal value (if any) N/A
Issue/acquisition/redemption price per security $1.23
Nature of the payment (for example, cash or other
consideration)
Cash
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)
14.59170370%
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)
Issue of new Stapled Securities under a
placement conducted by PCT, originally
announced on 13 October 2025, the
results of which were announced on 14
October 2025.
Proceeds will initially be used to repay
bank debt and then applied to
development working capital
requirements.
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.
1,819,646,065
None held as Treasury Stock.
In the case of an acquisition of shares, whether
those shares are to be held as treasury stock
N/A

Specific authority for the issue, acquisition, or
redemption, including a reference to the rule
pursuant to which the issue, acquisition, or
redemption is made
Board resolution dated 12 October 2025
and directors’ certificate dated 12 October
2025 for the issue pursuant to NZX listing
Rule 4.5 (as modified by the waiver
granted by NZX RegCo in favour of PCT
dated 18 April 2023).
Terms or details of the issue, acquisition, or
redemption (for example: restrictions, escrow
arrangements)
New Stapled Securities which rank equally
with all other fully paid Stapled Securities.
Date of issue/acquisition/redemption 17/10/2025
Section 3: Disclosure required for Placements made under Rule 4.5.1
Details of the approach in identifying investors who
were able to participate in the offer and how their
respective allocations in the offer were determined.

The explanation must set out the key objectives
and criteria the Issuer adopted in the allocation
process, whether one of those objectives was a
best effort to allocate on a pro rata basis to existing
holders of the Issuer’s Equity Securities, and any
significant exceptions or deviations from those
objectives and criteria.
Having regard to the objectives which
supported PCT’s choice of offer structure
(being a Placement and Share Purchase
Plan), PCT’s objectives for allocations
under the Placement were primarily to:
• maximise participation by existing
shareholders through broad eligibility
criteria and widely marketing the offer
through various channels;
• use best efforts to maximise the
number of existing shareholders who
were allocated sufficient shares to
maintain their pro rata shareholding in
the Placement (subject to the level of
demand indicated by them);
• strengthen PCT’s share register; and
• make allocations above pro rata, or to
new shareholders having regard to the
following criteria:
o levels of historical engagement
with or support of PCT;
o potential to be a long term and
supportive shareholder;
o levels of support for the Placement
(including the size and timeliness
of demand); and
o the investor’s profile (including,
among other things, investment
style, fund size, and fund location).
Final allocation decisions were made by
PCT and reflected input and advice from
the Joint Lead Managers of the offer.
There were no significant exceptions or
deviations from the objectives and criteria
set out above

Capital Change Notice


Section 4: Authority for this announcement and contact person
Name of person

authorised to make this
announcement
Richard Hilder
Contact person for this announcement Richard Hilder
Contact phone number +64 29 969 4770
Contact email address Richard.Hilder@precinct.co.nz
Date of release through MAP

17/10/2025