SPH Notice - Vital Healthcare Properties Management Ltd

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Disclosure of movement of 1% or more in substantial holding or change
in nature of relevant interest, or both
Sections 277 and 278, Financial Markets Conduct Act 2013
To NZX Limited
and
To Vital Healthcare Property Trust
Relevant event being disclosed: Disclosure of movement of 1% or more in substantial
holding
Date of relevant event: 20 February 2026
Date this disclosure made: 29 June 2026
Date last disclosure made: 10 November 2025
Substantial product holder(s) giving disclosure
Full name(s): Vital Healthcare Properties Management Limited (NZCN 9377339) (the
Manager), the internalised manager since 31 December 2025 of the Vital Healthcare
Properties Trust (VHPT)
Summary of substantial holding
Class of quoted voting products: Ordinary Units (VHP)
Summary for the Manager
For this disclosure,—
(a)total number held in class: 80,176,631
(b)total in class: 807,127,133
(c)total percentage held in class: 9.934%
For last disclosure,—
(a)total number held in class: 191,708,036
(b)total in class: 680,799,774
(c)total percentage held in class: 28.159%
Details of transactions and events giving rise to relevant event
Details of the transactions or other events requiring disclosure:
On 9 November 2025 the Manager, Northwest Healthcare Properties Management Limited
(Previous Manager), and certain unitholders of VHPT connected with Northwest
Healthcare Properties REIT, namely NWI Healthcare Properties LP, NWI NZ Management
Company Limited and Northwest NZ Finance Holdings Limited (together, Northwest)
entered into the Northwest Restricted Security Agreement in the form attached to a

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substantial product holder noticed lodged with NZX by the Manager and the Previous
Manager on 10 November 2025 (7 pages) (the Restricted Security Agreement).
Under the Restricted Security Agreement, the Manager held a qualified power to control
the sale of, transfer, assignement or otherwise disposal of all units in VHPT held by
Northwest until 20 February 2026, the first business day after the release to NZX of Vital’s
results announcement for the half year ended 31 December 2025. The Previous Manager
ceased to hold its relevant interest when it was replaced by the Manager on 31 December
2025.
From 20 February 2026, under the Restricted Security Agreement, the Manager holds a
qualified power to control the sale of, transfer, assignement or otherwise disposal of 10%
of the units in VHPT held by Northwest on 19 February 2026 (being 80,176,631 units) until
the earlier of (i) the first business day after the release to NZX of Vital’s results
announcement for the full year ended 30 June 2026; and (ii) 31 August 2026.
Since 20 February 2026, the holdings of Northwest have also been diluted by VHPT issuing
units to third parties under VHPT’s distribution reinvestment plan and the total number of
units issued by VHPT has increased to 807,127,133 at the date of this notice. Accordingly,
at the date of this notice, the Manager’s relevant interest has also been diluted from 10%
on 20 February 2026 to 9.934% at the date of this notice.
Details after relevant event
Details for the Manager
Nature of relevant interest(s): The Manager has a relevant interest in financial products of
Northwest under the Restricted Security Agreement, as described above.
For that relevant interest,—
(a)number held in class: 80,176,631
(b)percentage held in class: 9.93%
(c)current registered holder(s): NWI Healthcare Properties LP, NWI NZ Management
Company Limited and Northwest NZ Finance Holdings Limited
(d)registered holder(s) once transfers are registered: N/A
For a derivative relevant interest, also—
(a)type of derivative: N/A
(b)details of derivative: N/A
(c)if the substantial product holder is not a party to the derivative, the nature of the
relevant interest in the derivative: N/A
Additional information
Address(es) of substantial product holder(s): Level 17, HSBC Tower, 188 Quay Street,
Auckland Central 1010
Contact details: Graham Stuart, +64 21 390 749, graham.stuart@outlook.com

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Nature of connection between substantial product holders: N/A
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: N/A
Certification
I, Roger Wallis, 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.