SPH Notice - Gough Investment Capital Ltd

1
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 Rua Bioscience Limited
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: 20 January 2026
Date last disclosure made: n/a
Substantial product holder(s) giving disclosure
Full name(s): Gough Investment Capital Limited
Summary of substantial holding
Class of quoted voting products: Ordinary Shares in RUA NZX Code: RUA
Summary for Gough Investment Capital Limited
For this disclosure,—
(a) total number held in class: 17,383,344
(b) total in class: 338,041,705
(c) total percentage held in class: 5.14%
For last disclosure,—
(a) total number held in class: n/a
(b) total in class: n/a
(c) total percentage held in class: n/a
Details of transactions and events giving rise to relevant event
Details of the transactions or other events requiring disclosure:

2
Rua Bioscience offered New Shares to shareholders as part of a pro-rata rights offer in
November and December 2025. Gough Investment Capital Limited did not participate in
the capital raise. As a result, the shareholding percentage has decreased by more than
1%. No change occurred to the number of shares held.

Details after relevant event
Details for Gough Investment Capital Limited
Nature of relevant interest(s): Registered holder of shares as below.
For that relevant interest,—
(a) number held in class: 17,383,344
(b) percentage held in class: 5.14%
(c) current registered holder(s): Gough Investment Capital Limited
(d) registered holder(s) once transfers are registered: n/a
For a derivative relevant interest, also—
(a) type of derivative: Not Applicable
(b) details of derivative: Not Applicable
(c) if the substantial product holder is not a party to the derivative, the nature of the
relevant interest in the derivative:
Additional information
Address(es) of substantial product holder(s): Gough Investment Capital Limited,
Level, 4, 48 Hereford St, Christchurch 8013
Contact details: Kirsten Farrelly, Kirsten.farrelly@gough.co.nz, ph (03) 379 7213
Certification

I, Kirsten Farrelly, 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.