Precinct Share Purchase Plan Closes Oversubscribed

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 – 3 November 2025
Precinct Share Purchase Plan Closes Oversubscribed
Precinct Properties Group (Precinct) (NZX: PCT) is pleased to announce that its non-
underwritten share purchase plan (SPP) targeting $25 million of new stapled shares (New
Stapled Shares) has closed oversubscribed. The SPP was well supported by shareholders, with
Precinct receiving valid applications totalling approximately $52 million.
In recognition of the strong support from eligible shareholders and the desire to, as far as is
practical, allow shareholders to maintain their proportionate ownership following the equity
raising, Precinct has elected to accept oversubscriptions in accordance with the terms of the
SPP. Precinct is accepting an additional $15 million of subscriptions, bringing the total amount
raised under the SPP to $40 million.
Under the SPP, each eligible shareholder who was recorded in Precinct’s share register as
being a registered holder of Precinct’s stapled shares (Stapled Shares) and having an address
in New Zealand as at 5:00pm (NZDT) on the record date of 10 October 2025 (Eligible
Shareholder) could subscribe for up to $50,000 worth of New Stapled Shares. Over 8,950
Eligible Shareholders applied under the SPP, with an average application size of
approximately $5,800. Applications will be scaled based on the holdings at the record date
for the SPP, as per the terms of the SPP.
The SPP was part of Precinct’s equity raise announced on 13 October 2025, under which
Precinct also undertook a fully underwritten $285 million placement of New Stapled Shares to
eligible investors in New Zealand, Australia and certain other jurisdictions (Placement). The
New Stapled Shares under the SPP will be issued at a price of $1.2047 per New Stapled Share,
being a 2.5% discount to the five-day volume weighted average price of Stapled Shares
traded on the NZX during the five NZX trading days up to, and including, the closing date of
the SPP.
Settlement, allotment, and the commencement of trading of New Stapled Shares issued
under the SPP is expected to occur on 4 November 2025. The New Stapled Shares to be issued
under the SPP will rank equally in all respects with Precinct’s existing Stapled Shares on issue.
End

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
For further information, please contact:

Scott Pritchard
Chief Executive Officer
Mobile: +64 21 431 581
Email: scott.pritchard@precinct.co.nz

George Crawford
Deputy Chief Executive Officer
Mobile: +64 21 384 014
Email: george.crawford@precinct.co.nz

Richard Hilder
Chief Financial Officer
Mobile: +64 29 969 4770
Email: richard.hilder@precinct.co.nz

About Precinct
Listed on the NZX Main Board under the ticker code PCT and ranked in the NZX top 30, Precinct is the largest owner,
manager and developer of premium city centre real estate in Auckland and Wellington. Precinct is predominantly
invested in office buildings and also includes investment in Precinct Flex, Commercial Bay retail and a multi-unit
residential development business. As at 30 June 2025, Precinct's directly-held portfolio (on-completion value)
totalled $3.2 billion and Precinct had a further $1.6 billion of capital partnering assets under management: $1.2
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

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
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.
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.