Capital Change Notice – issue of securities under LTI Plan

Capital Change Notice

Updated as at February 2025


27 August 2026

Issue of securities under LTI Plan

This notice is given under NZX Listing Rules 3.13.1 and 3.15.2 and relates to the vesting and
lapse of Performance Share Rights under Precinct Properties' Long Term Incentive Plan under
which fully paid ordinary shares in Precinct Properties Group are issued on vesting of those
Performance Share Rights.

Section 1: Issuer information
Name of issuer Precinct Properties Group
NZX ticker code PCT
Class of financial product A stapled security comprising one ordinary
share in Precinct Properties New Zealand
Limited (PPNZ) and one ordinary share in
Precinct Properties Investments Limited
(PPIL), stapled so that they may only be
dealt with as a single equity security (a
Stapled Security).
ISIN (If unknown, check on NZX website) NZAPTE0001S3
Currency New Zealand Dollars
Section 2: Capital change details
Number issued/acquired/redeemed
1,020,361 Stapled Securities
Nominal value (if any) N/A
Issue/acquisition/redemption price per security Upon the vesting of Performance Share
Rights under Precinct Properties' Long
Term Incentive Plan (LTI Plan), the holder
is entitled to one Stapled Security for no
cash payment.
Nature of the payment (for example, cash or other
consideration)
N/A
Amount paid up (if not in full) Fully paid
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)
1

0.0551%
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)
N/A

1
The percentage is to be calculated immediately before the issue, acquisition, redemption or Conversion.

Reason for issue/acquisition/redemption and
specific authority for issue/acquisition/redemption/
(the reason for change must be identified here)
Vesting of 1,020,361 Performance Share
Rights under the LTI Plan (see details
above). Authorised by a board resolution
dated 22 August 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.
1,853,981,032 Stapled Securities

There is no treasury stock.
In the case of an acquisition of shares, whether
those shares are to be held as treasury stock
No
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 22 August 2023.

NZX Listing Rule 4.6.1
Terms or details of the issue, acquisition, or
redemption (for example: restrictions, escrow
arrangements)
Listed Stapled Securities ranking equally
with the existing Stapled Securities on
issue in Precinct Properties Group
Date of issue/acquisition/redemption
2
27/08/2026
Section 3: NZX Listing Rules 3.15.2 – Additional Details for Conversion of Financial
Products into Quoted Financial Products

Number of Financial Products converted and the
number and class of Quoted Financial Products
into which they have been converted
1,020,361 Performance Share Rights
have been converted into 1,020,361
Stapled Securities.

1,901,315 Performance Share Rights
have lapsed.

Interest or dividend conditions attaching to the
Financial Products into which they have been
converted
None
Number of Financial Products of the same class
remaining to be converted
6,666,215 Performance Share Rights
Section 4: Authority for this announcement and contact person
Name of person

authorised to make this
announcement
Louise Rooney

General Counsel & Company Secretary
Contact person for this announcement Louise Rooney
Contact phone number (09) 222 0070
Contact email address louise.rooney@precinct.co.nz
Date of release through MAP

27 August 2026




2
Continuous issuers using this form in reliance on Rule 3.13.2, please indicate the period during which the relevant
issue/acquisition/redemptions were made (for example, 1 January 2019 to 31 January 2019).