SPH Notice - Harbour Asset Management Limited

041898866/4160982.2
Disclosure of movement of 1% or more in substantial holding
or change in nature of relevant interest, or both
Sections 277 and 278, Financial Markets Conduct Act 2013
To NZX Limited
and
To Serko Limited (SKO)
Relevant event being disclosed:
Disclosure of movement of 1% or more in
substantial holding
Date of relevant event: 18 December 2025
Date this disclosure made: 19 December 2025
Date last disclosure made: 18 June 2025

Substantial product holder(s) giving disclosure
Full name(s): Harbour Asset Management Limited




Summary of substantial holding: Harbour Asset Management Limited
Class of quoted voting products:
Ordinary Shares (Shares)
Summary for: Harbour Asset Management Limited
For this
disclosure -
(a) total number held in class: 18,809,633
(b) total in class: 124,881,635
(c) total percentage held in class: 15.062%
For last
disclosure -
(a) total number held in class: 17,359,434
(b) total in class: 124,600,150
(c) total percentage held in class: 13.932%

041898866/4160982.2
Details of transactions and events giving rise to relevant event:
The transactions/events giving rise to this disclosure obligation are on-market buy and sell
trades by Harbour Asset Management Limited since the previous relevant event on 17 June
2025, as summarised in the table below.

Details for:
Harbour Asset Management
Limited
BNZ Investment Services Limited
Nature of relevant
interest(s):
Relevant interest in Shares that
FirstCape wholly-owned subsidiary
Harbour Asset Management
Limited (Harbour) has a relevant
interest in. Harbour has the power
to exercise (or control the exercise
of) rights to vote attached to, and
power to acquire or dispose of (or
control the acquisition or disposal
of), Shares under investment
powers contained in trust deeds or
investment management
agreements with clients, including
BNZ Investments Limited (see
right). FirstCape has those powers
and controls indirectly, as the
ultimate owner of Harbour.
Relevant interest in Shares that its
wholly-owned subsidiary BNZ
Investment Services Limited
(BNZIL) has a relevant interest in.
BNZIL has a beneficial ownership
interest in these shares, which are
managed by Harbour under an
investment management
agreement, so are also included in
Harbour’s interest referred to the
left.

On-market purchases
– Number of Shares
2,292,578 823,754
On-market purchases
– Gross Consideration
$6,382,357.99 $2,295,241.39
On-market sales –
Number of Shares
842,379 N/A
On-market sales –
Gross Consideration
$2,297,984.64 N/A

Details after relevant event:
Details for: Harbour Asset Management Limited BNZ Investment Services Limited
Number held in class
after the relevant
event:
18,809,633
4,417,061
Percentage held in
class:
15.062% 3.537%
Current registered
holder of financial
products:
For on market purchases: Unknown
For on market sales: Various
nominees or custodians for and on
behalf of Harbour Asset
Management Limited
For on market purchases: Unknown
For on market sales: Various
nominees or custodians for and on
behalf of Harbour Asset
Management Limited
Registered holder of
financial products
once transfer is
registered:
For on market purchases: Various
nominees or custodians for and on
behalf of Harbour Asset
Management Limited
For on market sales: Unknown
For on market purchases: Various
nominees or custodians for and on
behalf of Harbour Asset
Management Limited
For on market sales: Unknown

041898866/4160982.2

Additional information:

Address(es) of substantial
product holder(s):
Level 21, 171 Featherston Street, Wellington
Contact details:
Madeleine Pumphrey
M +64 27 376 8309
madeleine.pumphrey@jbwere.co.nz

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: none.

Certification:
I, Madeleine Pumphrey, certify that, to the best of my knowledge and belief, the
information contained in this disclosure is correct and that I am duly authorised to make
this disclosure by all persons for whom it is made.