Notification of Issue of Unlisted Options - Amended

Template
Capital Change Notice

Updated as at February 2025

Please do not amend or delete individual rows. As this template relates to prescribed content, changes to content
should only be made where it is clearly indicated that this is permitted, otherwise, if an Issuer considers a particular
element does not apply, mark the row as N/A. Any other changes to this prescribed form must first be approved by
NZX as required under NZX Listing Rule 3.26.1.

Section 1: Issuer information
Name of issuer ikeGPS Group Limited
NZX ticker code IKE
Class of financial product Unlisted Options
ISIN (If unknown, check on NZX website) NZIKEE0001S9
Currency NZD
Section 2: Capital change details
Number issued/acquired/redeemed 3,390,262
Nominal value (if any) N/A
Issue/acquisition/redemption price per security $ 0.94
Nature of the payment (for example, cash or other
consideration)
Full settlement: Cash payment at the
exercised price.

Net settlement: N/A (as set out in the
ikeGPS Group Limited Employee Option
Scheme Rules)
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

1.75%
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)
The options have an exercise price of
$0.94
The terms of each Option are as set out in
the ikeGPS Group Limited Employee
Option Scheme Rules and the offer letter
sent to the employee.
The options are exercisable from 1 July
2025 until 30 June 2030.
Any share to be issued on the exercise of
the Options will be issued on the same
terms and will rank equally in all respects
with the ordinary shares the company
currently has on issue.

The options are no longer exercisable on
the first of (i) the termination of the option
holders’ service or (ii) its termination in

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

connection with a change of control in the
company (unless the Board elects to
accelerate the exercise period of the
options to immediately prior to the
effective date of a change of control) or
(iii) after 30 June 2030.
Reason for issue/acquisition/redemption and
specific authority for issue/acquisition/redemption/
(the reason for change must be identified here)
Issue of unlisted options under the IKE
Employee Option Scheme effective from
June 2014, to retain and reward
employees and directors and to motivate
such individuals to contribute to the long-
term growth and profitability of IKE.
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.
Unlisted Options: 13,166,578

Total Ordinary Shares on Issue:
193,813,154
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
Directors’ Resolution dated 1 October
2025
Terms or details of the issue, acquisition, or
redemption (for example: restrictions, escrow
arrangements)
The shares were issued with identical
rights, privileges, limitations, and
conditions as, and rank equally with, the
existing ordinary shares.
Date of issue/acquisition/redemption
2
13/11/2025
Section 3: Disclosure required for Placements made under Rule 4.5.1
[Issuers may opt to release Section 3 information (if not already done so) in a separate announcement within five Business Days of
the issuance. Delete this Section 3 if capital change is not the result of a Placement 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.
N/A
Section 4: Authority for this announcement and contact person
Name of person

authorised to make this
announcement
James Macdonald
Contact person for this announcement James Macdonald

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).

Template
Capital Change Notice

Updated as at February 2025
Contact phone number +64 4 382 8064
Contact email address james.macdonald@ikegps.com
Date of release through MAP

24/11/2025