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: 26 January 2026
Date last disclosure made: 22 January 2026
Date on which substantial holding ceased: 22 January 2026

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: 9,431,807 shares
(b) total in class: 187,966,817 shares
(c) total percentage held in class: 5.02%

For current holding after ceasing to have substantial holding, —
(a) total number held in class 5,285,493 shares
(b) total in class: 187,966,817 shares
(c) total percentage held in class: 2.81%

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:

26 January 2026

Print Name:


Dominic Eichrodt

Capacity:

Authorised signatory


Sign Here:




Date:

26 January 2026

ERD - Appendix A
Date of
change
Person whose relevant interest changed
Nature of Change
Consideration given in
relation to change
Number of securities
Class
21-Jan-26
UBS AG Australia Branch
Change in right of rehypothecation
N/A
24,550

Ordinary
21-Jan-26
UBS Securities Australia Ltd
Buy
42,821
34,060

Ordinary
21-Jan-26
UBS Securities Australia Ltd
Sell
39,428
(30,824)

Ordinary
21-Jan-26
UBS Securities Australia Ltd
Buy
6,257
4,836

Ordinary
21-Jan-26
UBS Securities Australia Ltd
Sell
15,235
(11,958)

Ordinary
21-Jan-26
UBS Securities Australia Ltd
Sell
222
(175)

Ordinary
21-Jan-26
UBS Securities Australia Ltd
Buy
1,302
1,029

Ordinary
21-Jan-26
UBS Securities Australia Ltd
Buy
19,541
15,164

Ordinary
21-Jan-26
UBS Securities Australia Ltd
Sell
5,847
(4,465)

Ordinary
21-Jan-26
UBS Securities Australia Ltd
Sell
8,208
(6,326)

Ordinary
21-Jan-26
UBS Securities Australia Ltd
Buy
18,850
14,662

Ordinary
21-Jan-26
UBS Securities Australia Ltd
Sell
10,305
(7,932)

Ordinary
21-Jan-26
UBS Securities Australia Ltd
Buy
11,576
8,983

Ordinary
21-Jan-26
UBS Securities Australia Ltd
Buy
42,806
33,206

Ordinary
21-Jan-26
UBS Securities Australia Ltd
Sell
13,923
(10,850)

Ordinary
21-Jan-26
UBS AG London Branch
Sell
113
(88)

Ordinary
21-Jan-26
UBS AG London Branch
Enter Into Derivative Contract
N/A
10,850

Swaps
21-Jan-26
UBS AG London Branch
Enter Into Derivative Contract
N/A
(33,206)

Swaps
21-Jan-26
UBS AG London Branch
Enter Into Derivative Contract
N/A
(15,164)

Swaps
21-Jan-26
UBS AG London Branch
Enter Into Derivative Contract
N/A
11,958

Swaps
21-Jan-26
UBS AG London Branch
Enter Into Derivative Contract
N/A
(4,836)

Swaps
21-Jan-26
UBS AG London Branch
Enter Into Derivative Contract
N/A
30,824

Swaps
21-Jan-26
UBS AG London Branch
Enter Into Derivative Contract
N/A
(34,060)

Swaps
22-Jan-26
UBS AG Australia Branch
Change in right of rehypothecation
N/A
(4,169,240)

Ordinary
22-Jan-26
UBS AG London Branch
Sell
15,959
(12,648)

Ordinary
22-Jan-26
UBS Securities Australia Ltd
Sell
18,802
(14,969)

Ordinary
22-Jan-26
UBS Securities Australia Ltd
Buy
6,990
5,397

Ordinary
22-Jan-26
UBS Securities Australia Ltd
Buy
2,867
2,187

Ordinary
22-Jan-26
UBS Securities Australia Ltd
Buy
1,686
1,298

Ordinary
22-Jan-26
UBS Securities Australia Ltd
Sell
2,922
(2,322)

Ordinary
22-Jan-26
UBS Securities Australia Ltd
Buy
8,810
6,693

Ordinary
22-Jan-26
UBS Securities Australia Ltd
Sell
595
(466)

Ordinary
22-Jan-26
UBS Securities Australia Ltd
Sell
10,620
(8,138)

Ordinary
22-Jan-26
UBS Securities Australia Ltd
Buy
6,196
4,727

Ordinary
22-Jan-26
UBS Securities Australia Ltd
Sell
7,729
(5,955)

Ordinary
22-Jan-26
UBS Securities Australia Ltd
Buy
3,653
2,825

Ordinary
22-Jan-26
UBS AG London Branch
Enter Into Derivative Contract
N/A
(2,825)

Swaps
22-Jan-26
UBS AG London Branch
Enter Into Derivative Contract
N/A
5,955

Swaps
22-Jan-26
UBS AG London Branch
Enter Into Derivative Contract
N/A
(6,693)

Swaps
22-Jan-26
UBS AG London Branch
Enter Into Derivative Contract
N/A
(1,298)

Swaps
22-Jan-26
UBS AG London Branch
Enter Into Derivative Contract
N/A
2,322

Swaps
22-Jan-26
UBS AG London Branch
Enter Into Derivative Contract
N/A
14,969

Swaps
22-Jan-26
UBS AG London Branch
Enter Into Derivative Contract
N/A
(5,397)

Swaps