Capital Change Notice

Capital Change Notice

Updated as at February 2025

Section 1: Issuer information
Name of issuer Scales Corporation Limited (Scales)
NZX ticker code SCL
Class of financial product Ordinary Shares
ISIN (If unknown, check on NZX website) NZSCLE0002S8
Currency NZD
Section 2: Capital change details
Number issued/acquired/redeemed 270,293 ordinary shares issued

Nominal value (if any) N/A
Issue/acquisition/redemption price per security Nil
Nature of the payment (for example, cash or other
consideration)
322,956 unquoted Performance Share
Rights (PSRs) were issued pursuant to
the 2023 Grant (2023 Grant) made under
Scales’ Performance Share Rights
Scheme (Scheme).
Upon the exercise of each PSR which
becomes eligible for exercise as a result
of achievement of the performance
hurdles applicable to the PSRs (Eligible
PSRs) under the 2023 Grant, the
participant is entitled to receive one fully
paid ordinary share in Scales, as well as
an additional number of shares to reflect
dividends paid on Scales ordinary shares
prior to vesting, in each case ranking
equally with all other Scales ordinary
shares for nil cash payment.
Further details on the 2023 Grant are
included within Scales’ financial
statements.
Amount paid up (if not in full) Fully paid ordinary shares
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)
0.019%
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)
Not applicable
Reason for issue/acquisition/redemption and
specific authority for issue/acquisition/redemption/
(the reason for change must be identified here)
The issue is made upon the exercise of
288,080 PSRs under the 2023 Grant
authorised by a board resolution dated 15
December 2023.

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.
145,766,303 ordinary shares (excluding
Treasury Stock)

0 ordinary shares held as Treasury Stock

0 PSRs of the same Class of the 2023
Grant remain on issue with 34,876 PSRs
having lapsed due to performance hurdles
not being satisfied and 37,954 PSRs
being withheld and cancelled to account
for participant tax liability arising as a
result of the exercise of Eligible PSRs.
In the case of an acquisition of shares, whether
those shares are to be held as treasury stock
Not applicable
Specific authority for the issue, acquisition, or
redemption, including a reference to the rule
pursuant to which the issue, acquisition, or
redemption is made
Board resolution dated 15 December 2023
and NZX Listing Rules 4.6.1 and 4.9.1(b).
Terms or details of the issue, acquisition, or
redemption (for example: restrictions, escrow
arrangements)
The shares issued are quoted ordinary
shares ranking equally with the existing
ordinary shares on issue of Scales.
Date of issue/acquisition/redemption 10/06/2026
Section 3: Disclosure required for Placements made 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.
Not applicable
Section 4: Authority for this announcement and contact person
Name of person

authorised to make this
announcement
Steve Kennelly
Contact person for this announcement Steve Kennelly
Contact phone number +64 3 3712263
Contact email address steve.kennelly@scalescorporation.co.nz
Date of release through MAP

10/06/2026