Capital Change Notice – DRP & Excercise of Options

Company Announcement
29 January 2026



Capital Change Notice – DRP & Options

Turners Automotive Group Limited (NZX/ASX: TRA) provided the attached Capital Change Notice
pursuant to the NZX listing rule 3.13.1. This Notice relates to the issue of:
• 130, 849 ordinary shares under Turners Automotive Group’s Dividend Reinvestment Plan, dated May
2023, in respect of the FY26 second quarter dividend; and
• 50,000 ordinary shares following the exercise of 50,000 share options under the Turners Automotive
Group Limited Option Plan. Following the exercise of the options the number of unlisted share
options in the company has reduced by 50,000 unlisted share options to 50,000 unlisted share
options.

ENDS


About Turners

Turners Automotive Group Limited is an integrated financial services group, primarily operating in the
automotive sector www.turnersautogroup.co.nz

For further information, please contact:

Todd Hunter, Chief Executive Officer, Turners Automotive Group Limited, Mob: 021 722 818

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Template
Capital Change Notice

Updated as at February 2025


Section 1: Issuer information
Name of issuer Turners Automotive Group Limited
90554422NZX ticker code TRA
Class of financial product Ordinary shares
ISIN (If unknown, check on NZX website) NZVNLE0001S1
Currency NZD
Section 2: Capital change details
Number issued 180,849
n/a n/a
Issue price per security 130,849 shares - $8.17
50,000 shares - $2.00
Nature of the payment (for example, cash or other
consideration)
Cash
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

0.199%
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)
n/a
Reason for issue/acquisition/redemption and specific
authority for issue/acquisition/redemption/ (the reason
for change must be identified here)
130,849 shares were issued pursuant to the
Dividend Reinvestment Plan dated May 2023
in respect of the second quarterly dividend for
the year ended 31 March 2026.
50,000 options exercised under the Turners
Automotive Group Limited Option Plan
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.
91,025,265
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
Dividend Repayment Plan dated May 23 and
Board resolution dated 20 October 2025.
Options - board resolution dated 6 July 2020
and NZX Listing Rule 4.6.1
Terms or details of the issue, acquisition, or redemption
(for example: restrictions, escrow arrangements)
Ordinary shares issued rank pari passu with
existing ordinary shares
Date of issue 29/01/2026

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

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 Barbara Badish
Contact person for this announcement Todd Hunter
Contact phone number 021 722 818
Contact email address Todd.Hunter@turners.co.nz
Date of release through MAP 29/01/2026