SPH Notice - UBS Group AG and its related bodies corporate

Disclosure of ceasing to have substantial holding
Section 279, Financial Markets Conduct Act 2013

To: NZX Limited
and
To: EROAD Limited
Date this disclosure made: 05 November 2025
Date last disclosure made: 04 November 2025
Date on which substantial holding ceased: 03 November 2025

Substantial product holder(s) giving disclosure
Full name(s): UBS Group AG and its related bodies corporate

Summary of previous substantial holding
Class of quoted voting products: Ordinary shares
Summary for: UBS Group AG and its related bodies corporate
For last disclosure, —
(a) total number held in class: 11,908,103 shares
(b) total in class: 187,587,526 shares
(c) total percentage held in class: 6.35%

For current holding after ceasing to have substantial holding, —
(a) total number held in class: 6,194,154 shares
(b) total in class: 187,410,632 shares
(c) total percentage held in class: 3.30%

Details of transactions and events giving rise to ceasing of substantial holding
Details of the transactions or other events requiring disclosure: Please see Appendix A .
Additional information
Address(es) of substantial product holder(s):
Name Addresses
UBS AG Australia Branch Level 16, Chifley Tower, 2 Chifley Square, Sydney, Australia
UBS AG London Branch 5 Broadgate, London, United Kingdom
UBS Asset Management
(Australia) Ltd
Level 16, Chifley Tower, 2 Chifley Square, Sydney, Australia
UBS Fund Management
(Switzerland) AG
Aeschenvorstadt 1, Basel, Switzerland
UBS Securities Australia Ltd Level 16, Chifley Tower, 2 Chifley Square, Sydney, Australia

UBS Nominees Pty Ltd Level 16, Chifley Tower, 2 Chifley Square, Sydney, Australia
Brispot Nominees Pty Ltd Level 16, Chifley Tower, 2 Chifley Square, Sydney, Australia

Contact details: Ruby Ko
Tel: +852 3712 2802
Email: ruby.ko@ubs.com

Nature of connection between substantial product holders:
UBS AG Australia Branch: Related body corporate
UBS AG London Branch: Related body corporate
UBS Asset Management (Australia) Ltd: Related body corporate
UBS Fund Management (Switzerland) AG : Related body corporate
UBS Securities Australia Ltd: Related body corporate
UBS Nominees Pty Ltd: Related body corporate
Brispot Nominees Pty Ltd: Related body corporate


Name of any other person believed to have given, or believed to be required to give, a disclosure
under the Financial Markets Conduct Act 2013 in relation to the financial products to which this
disclosure relates: Not applicable
Certification
We certify that, to the best of our knowledge and belief, the information contained in this disclosure
is correct and that we are duly authorised to make this disclosure by all persons for whom it is made.

SIGNATURE

Print Name:


Ruby Ko

Capacity:

Authorised signatory

Sign Here:



Date:

05 November 2025

Print Name:


Dominic Eichrodt

Capacity:

Authorised signatory


Sign Here:





Date:

05 November 2025

ERD - Appendix A
Date of
change
Person whose relevant interest changed
Nature of Change
Consideration given in
relation to change
Number of securities
Class
03-Nov-25
UBS AG Australia Branch
Change in right of rehypothecation
N/A
(5,699,241)

Ordinary
03-Nov-25
UBS Securities Australia Ltd
Sell
212
(108)

Ordinary
03-Nov-25
UBS Securities Australia Ltd
Buy
297
157

Ordinary
03-Nov-25
UBS Securities Australia Ltd
Bu
y
6,734
3,545


Ordinar
y
03-Nov-25
UBS Securities Australia Ltd
Bu
y
78
42


Ordinar
y
03-Nov-25
UBS Securities Australia Ltd
Sell
15,800
(8,338)


Ordinar
y
03-Nov-25
UBS Securities Australia Ltd
Sell
9,038
(4,616)


Ordinar
y
03-Nov-25
UBS Securities Australia Ltd
Bu
y
27,771
14,322


Ordinar
y
03-Nov-25
UBS Securities Australia Ltd
Sell
15,897
(8,495)


Ordinar
y
03-Nov-25
UBS Securities Australia Ltd
Sell
14,737
(7,452)

Ordinary
03-Nov-25
UBS Securities Australia Ltd
Buy
11,931
6,398

Ordinary
03-Nov-25
UBS Securities Australia Ltd
Sell
42,182
(21,931)


Ordinar
y
03-Nov-25
UBS Securities Australia Ltd
Sell
45,965
(23,093)


Ordinar
y
03-Nov-25
UBS Securities Australia Ltd
Bu
y
47,618
24,716


Ordinar
y
03-Nov-25
UBS Securities Australia Ltd
Sell
18,703
(9,720)


Ordinar
y
03-Nov-25
UBS Securities Australia Ltd
Bu
y
13,184
6,982


Ordinar
y
03-Nov-25
UBS AG London Branch
Bu
y
2,662
1,376


Ordinar
y
03-Nov-25
UBS AG London Branch
Sell
1,650
(846)


Ordinar
y
03-Nov-25
UBS Securities Australia Ltd
Enter Into Derivative Contract
N/A
(6,982)


Swaps
03-Nov-25
UBS Securities Australia Ltd
Enter Into Derivative Contract
N/A
9,720


Swaps
03-Nov-25
UBS Securities Australia Ltd
Enter Into Derivative Contract
N/A
(24,716)


Swaps
03-Nov-25
UBS Securities Australia Ltd
Enter Into Derivative Contract
N/A
23,093


Swaps
03-Nov-25
UBS Securities Australia Ltd
Enter Into Derivative Contract
N/A
21,931


Swaps
03-Nov-25
UBS Securities Australia Ltd
Enter Into Derivative Contract
N/A
(6,398)

Swaps
03-Nov-25
UBS Securities Australia Ltd
Enter Into Derivative Contract
N/A
7,452


Swaps
03-Nov-25
UBS Securities Australia Ltd
Enter Into Derivative Contract
N/A
8,495


Swaps
03-Nov-25
UBS Securities Australia Ltd
Enter Into Derivative Contract
N/A
(14,322)


Swaps
03-Nov-25
UBS Securities Australia Ltd
Enter Into Derivative Contract
N/A
4,616


Swaps
03-Nov-25
UBS Securities Australia Ltd
Enter Into Derivative Contract
N/A
8,338


Swaps
03-Nov-25
UBS Securities Australia Ltd
Enter Into Derivative Contract
N/A
(42)


Swaps
03-Nov-25
UBS Securities Australia Ltd
Enter Into Derivative Contract
N/A
(3,545)


Swaps
03-Nov-25
UBS Securities Australia Ltd
Enter Into Derivative Contract
N/A
(157)

Swaps
03-Nov-25
UBS Securities Australia Ltd
Enter Into Derivative Contract
N/A
108


Swaps
03-Nov-25
UBS Securities Australia Ltd
Enter Into Derivative Contract
N/A
(1,376)


Swaps
03-Nov-25
UBS Securities Australia Ltd
Enter Into Derivative Contract
N/A
846


Swaps