SPH Notice - Craigs Investment Partners Limited (CIP)

1
Disclosure of beginning to have substantial holding
Section 276, Financial Markets Conduct Act 2013
To NZX Limited
and
To Property For Industry Limited
Date this disclosure made: 8 May 2026
Date on which substantial holding began: 6 May 2026
Substantial product holder(s) giving disclosure
Full name(s): Craigs Investment Partners Limited (CIP)
Summary of substantial holding
Summary for Property For Industry Limited Ordinary Shares
For this disclosure,—
(a) total number held in class: 25,228,044
(b) total in class: 502,379,030
(c) total percentage held in class: 5.02%
Details of relevant interests
Details for CIP
Nature of relevant interest(s): The relevant interest arises under various investment
management agreements to which CIP is a party in its capacity as a provider of
discretionary investment management services (DIMS) and as manager of
Smartshares CIP NZ Core Equity Fund and Smartshares CIP NZ Yield Equity Fund
(Funds). The relevant interest exists solely due to the investment powers granted
under those agreements, including the authority to control voting rights attached
to the shares and to manage the disposal of those shares.
A copy of the relevant agreement does not need to be attached under
regulation 139.
For that relevant interest, —
(a) number held in class: 25,228,044
(b) percentage held in class: 5.02%
(c) current registered holder(s): Not applicable
(d) registered holder(s) once transfers are registered: Custodial Services Limited (CSL)
(23,797,159 shares) / Smartshares CIP (1,430,885 shares)

2
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 in the 6 January 2026 to 6
May 2026.
Nature of event Consideration
Number of
financial
products
Current
registered
holder(s)
Registered
holder(s) once
transfers are
registered
On-market sales $1,858,886 724,083
CSL
(23,797,159
shares) /
Smartshares
CIP (1,430,885
shares)
Unknown
On-market
purchases
$6,201,114 2,570,384 Unknown CSL
Off-market
transfers out of
DIMS
Nil 301,717 CSL Unknown
Off-market
transfers into
DIMS
Nil 544,621 Unknown CSL


Additional information
Address(es) of substantial product holder(s): Craigs Investment Partners House,
158 Cameron Road, Tauranga
Contact details: Regan Carey
T: +64 7 927 7926
Email: compliance@craigsip.com

3
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, Regan Carey, 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.