Notice of Allotment of Options

Capital Change Notice




Section 1: Issuer information
Name of issuer Summerset Group Holdings Limited
NZX ticker code SUM
Class of financial product Option to acquire ordinary shares
ISIN (If unknown, check on NZX website) N/A. The Options will not be quoted.
Currency NZD
Section 2: Capital change details
Number issued/acquired/redeemed 361,630 Options
Nominal value (if any) N/A
Issue/acquisition/redemption price per security N/A
Nature of the payment (for example, cash or other
consideration)
No consideration is payable in accordance
with the Summerset Share Option Plan
Rules.
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)
41.9400% of all Options currently on
issue.

If, on vesting, all Options are exercised,
0.14905108% of the ordinary shares in
Summerset Group Holdings Limited
(based on the number of ordinary shares
currently on issue).
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)
Subject to each Option holder’s continued
employment by Summerset and the
achievement of certain performance
hurdles, the Options will vest on 31
December 2028. Options will
automatically be exercised and convert to
ordinary shares following the vesting date
and confirmation of satisfaction of
performance hurdles, in accordance with
the Summerset Share Option Plan Rules.
The exercise price for the Options is nil.
Reason for issue/acquisition/redemption and
specific authority for issue/acquisition/redemption/
(the reason for change must be identified here)
The board of Summerset has resolved to
offer the Options to selected employees in
order to:
(a) reward and retain key employees;
(b) drive longer-term performance and
alignment of incentives of participants
with the interests of Summerset’s
shareholders; and
(c) encourage longer term decision-
making by participants.
Total number of Financial Products of the Class
after the issue/acquisition/redemption/Conversion
1,223,832

(excluding Treasury Stock) and the total number of
Financial Products of the Class held as Treasury
Stock after the issue/acquisition/redemption.
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
Summerset Share Option Plan Rules;
Directors’ resolution dated 26 February
2026; Listing Rule 4.6.14
Terms or details of the issue, acquisition, or
redemption (for example: restrictions, escrow
arrangements)
As above. The Options have been issued
in accordance with the terms of the Share
Option Plan Rules in the form approved by
the Board.
Date of issue/acquisition/redemption 15 March 2026
Section 4: Authority for this announcement and contact person
Name of person

authorised to make this
announcement
Robyn Heyman
Contact person for this announcement Robyn Heyman
Contact phone number +64 27 506 5562
Contact email address robyn.heyman@summerset.co.nz
Date of release through MAP

16 March 2026