South Port New Zealand Ltd Employee Share Rights Plan

NZX Announcement

NZX: SPN: South Port New Zealand

24/08/2026, OFFER

South Port New Zealand Limited employee share rights plan
The Board of South Port New Zealand Limited (SPNZ) is pleased to announce that it has
approved a performance share rights plan (Plan) to execute on its retention and incentive
commitments to employees who are eligible to participate in the Plan and have agreed to
participate (Participants) to align Participants’ and shareholders’ interests.
The Plan grants Participants rights to be issued or transferred shares (Rights), after a certain
vesting period and the satisfaction of vesting hurdles imposed on those Rights.
The Plan is adopted today, with the Rights to be granted to Participants on 31 August 2026 and
will vest in approximately three years’ time, subject to Participants remaining employed. During
that period, the Participants will be subject to the terms of their employment or engagement
by SPNZ.
The long-term performance incentive component consists of a grant of Rights which will have
the following vesting conditions:
• total shareholder return exceeding a cost of equity target;
• total shareholder return falling above a target percentile of the NZX50 peer group
companies;
• earnings per share compound annual growth rate exceeding a target rate, over a three-
year vesting period.
Rights will automatically lapse if vesting hurdles are not satisfied by the end of the vesting
period. The Board has discretion to determine, in certain events where a Participant ceases
employment or engagement with SPNZ, whether some or all of the Rights granted to the
Participant will not lapse. All Rights lapse automatically in the event of fraud, dishonesty or
wilful default.

For further information contact:

Mr Derek Nind
Chief Executive Officer
South Port New Zealand Ltd
Tel: (03) 212 8159
Email: dnind@southport.co.nz

Mr Philip Cory-Wright
Chair
South Port New Zealand Ltd
Mobile: 021 767 828
Email: philip@cory-wright.co.nz