SPH Notice - Fisher Funds Management Limited

Disclosure of beginning to have substantial holding
Section 276, Financial Markets Conduct Act 2013

To NZX Limited
and
To Delegat Group Limited (DGL)

Date this disclosure made: 11 February 2026
Date on which substantial holding began: 10 February 2026

Substantial product holder(s) giving disclosure
Full name(s): Fisher Funds Management Limited

Summary of substantial holding
Class of quoted voting products: Ordinary Shares

Summary for: Fisher Funds Management Limited

For this disclosure,—
(a) total number held in class: 5,106,549
(b) total in class: 101,130,192
(c) total percentage held in class: 5.049%

Details after relevant event
Details for Fisher Funds Management Limited

Nature of relevant interest(s): Fisher Funds Management Limited is the registered holder
and non-beneficial owner of these securities. No relevant agreement documentation is
required to be attached as the investment management contract exemption under
regulation 14 applies.

For that relevant interest,—
(a) number held in class: See below.
(b) percentage held in class: See below.
(c) current registered holder(s): See below.
(d) registered holder(s) once transfers are registered: Unknown

No. held in class Percentage held in class Current registered holders
5,106,549 5.049%
TEA Custodians on behalf of the Fisher Institutional New Zealand
Equity Fund, Fisher Institutional Trans Tasman Equity Fund,
Kingfish Limited

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: Not applicable

Details of transactions and events giving rise to substantial holding
Details of the transactions or other events requiring disclosure:
Date of change Nature of change
Consideration given in
relation to change
Class and number of
securities affected
Other party,
if known
10/10/2025 to
10/02/2026
On market
purchases
$1,907,581 426,555 Ordinary Shares
N/A


Additional information
Address(es) of substantial product holder(s): Fisher Funds Management Limited, Level 1,
67-73 Hurstmere Road, Takapuna, Auckland

Contact details: Mahia Pepper, mahia.pepper@fisherfunds.co.nz, +64 9 941 5986

Nature of connection between substantial product holders: Fisher Funds Management
Limited is the registered holder and non-beneficial owner of these securities
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
I, Mahia Pepper, 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.