Downtown Carpark Redevelopment Fast Track Approval Received

Precinct Properties New Zealand Limited
hello@precinct.co.nz
0800 400 599
precinct.co.nz
Auckland Office
Level 12, 188 Quay Street, Auckland 1010
PO Box 5140, Auckland 1141, New Zealand

Wellington Office
Level 3, 31 Waring Taylor Street
PO Box 2, Wellington 6140, New Zealand
Precinct Properties New Zealand Limited
hello@precinct.co.nz
0800 400 599
precinct.co.nz
Auckland Office
Level 12, 188 Quay Street, Auckland 1010
PO Box 5140, Auckland 1141, New Zealand

Wellington Office
Level 3, 31 Waring Taylor Street
PO Box 2, Wellington 6140, New Zealand
NZX announcement – 5 August 2026

Downtown Carpark Redevelopment Fast Track Approval Received

Precinct Properties Group (Precinct) (NZX: PCT) is pleased to announce that resource
consent approval has been granted for the development of the Downtown Carpark
under the Fast-track Approvals Act 2024.

The Expert Panel issued the final decision today, marking a significant milestone in
advancing the Downtown Carpark development opportunity.

Precinct Chief Executive Scott Pritchard said: “This approval represents an early but
important milestone in the development programme, and we are pleased with the
progress it reflects. We expect to provide the market with a more comprehensive update
at Precinct’s annual results in August.”

As previously announced, Precinct has partnered with a Main Contractor, Built, to
undertake Early Contractor Involvement (ECI) until April 2027. This key procurement
workstream together with preleasing and funding capacity progress, will inform any
commitment to the development.

ENDS

For further information, please contact:

Scott Pritchard
Chief Executive Officer
Mobile: +64 21 431 581
Email: scott.pritchard@precinct.co.nz

George Crawford
Deputy Chief Executive Office
r
Mobile: +64 21 384 014
Email: george.crawford@precinct.co.nz

Richard Hilder
Chief Financial Officer
Mobile: +64 29 969 4770
Email: richard.hilder@precinct.co.nz

Precinct Properties New Zealand Limited
hello@precinct.co.nz
0800 400 599
precinct.co.nz
Auckland Office
Level 12, 188 Quay Street, Auckland 1010
PO Box 5140, Auckland 1141, New Zealand

Wellington Office
Level 3, 31 Waring Taylor Street
PO Box 2, Wellington 6140, New Zealand
Precinct Properties New Zealand Limited
hello@precinct.co.nz
0800 400 599
precinct.co.nz
Auckland Office
Level 12, 188 Quay Street, Auckland 1010
PO Box 5140, Auckland 1141, New Zealand

Wellington Office
Level 3, 31 Waring Taylor Street
PO Box 2, Wellington 6140, New Zealand
About Precinct

Listed on the NZX Main Board under the ticker code PCT and ranked in the NZX top 30, Precinct is the largest
owner, manager and developer of premium city centre real estate in Auckland and Wellington. Precinct is
predominantly invested in office buildings and also includes investment in Precinct Flex, Commercial Bay retail
and a multi-unit residential development business.

As at 31 December 2025 on a pro forma basis following completion of the PwC Tower transaction, Precinct's
directly-held portfolio totals $2.7 billion and Precinct has a further $2.5 billion of committed capital partnering
assets under management; Precinct holds an interest in $2.0 billion of these assets, with the balance being
managed on behalf of third-party partners (all amounts presented on a committed, completion value basis).
For more information visit: www.precinct.co.nz.

Shareholders in Precinct hold an equal number of shares in Precinct Properties New Zealand Limited and
Precinct Properties Investments Limited and these shares can only be dealt with together. The stapled issuers
are described as “Precinct Properties NZ & Precinct Properties Investments Ltd” on NZX systems and the ticker
code for the Stapled Shares remains PCT.