Turners has record uptake of employee share program

Company Announcement
14 September 2026



Turners has record uptake of employee share program

Turners has issued shares under its 2026 Employee Share Scheme (ESS) and 2023 Long Term Incentive
programme (LTIP).

ESS
CEO Todd Hunter said “in our 5
th
year of running the employee share scheme we now have 72% of our
wider team with shareholdings in the company. This is a fantastic outcome for our team and for our
broader shareholder base. The ownership mindset combined with our high team engagement levels
continues to be a powerful combination and a strong advantage for the Turners organisation. It is an
important competitive advantage for us as a business.”

In the 2026 ESS round, employees have applied for a total of 104,139 shares and, after utilising shares
already held by the Share Scheme Trustees, a total of 77,978 new shares have been issued representing
0.09% of issued capital.

The scheme provides the opportunity for permanent (part-time and full-time) employees of the business
to invest $1,000 and receive $2,0 00 worth of shares at the completion of a 3-year vesting period. In order
to encourage broad participation, the company also offers a 3-year interest-free loan to all staff to
acquire the shares.

LTIP
The company is also issuing 85,562 LTIP shares to 23 leaders across the wider business to reward
performance, loyalty and tenure, and to ensure retention of key talent essential to Turners’ future
success.




ENDS



About Turners

Turners Automotive Group Limited is an integrated financial services group, primarily operating in the
automotive sector www.turnersautogroup.co.nz

For further information, please contact:

Aaron Saunders, Group Chief Financial Officer, Turners Automotive Group Limited, Mob: 027 493 8794
Todd Hunter, Group Chief Executive Officer, Turners Automotive Group Limited, Mob: 021 722 818

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Template
Capital Change Notice

Updated as at February 2025


Section 1: Issuer information
Name of issuer Turners Automotive Group Limited
90554422NZX ticker code TRA
Class of financial product Ordinary shares
ISIN (If unknown, check on NZX website) NZVNLE0001S1
Currency NZD
Section 2: Capital change details
Number issued Employee Share Scheme – 77,978
Long-Term Incentive Plan – 85,562
Nominal value (if any) n/a
Issue/acquisition/redemption price per security Employee Share Scheme - $7.5636
Long-Term Incentive Plan - $8.2977
Nature of the payment (for example, cash or other
consideration)
Employee Share Scheme - cash
Long-Term Incentive Plan - non-cash
consideration
Amount paid up (if not in full) n/a
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)
0.179%
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
Reason for issue/acquisition/redemption and
specific authority for issue/acquisition/redemption/
(the reason for change must be identified here)
85,562 shares issued under the
Company's Long-Term Incentive Plan and
77,978 shares issued under the
Company’s Employee Share Scheme.
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.
91,676,801
In the case of an acquisition of shares, whether
those shares are to be held as treasury stock
n/a
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 resolutions dated 19 August 2026.

Terms or details of the issue, acquisition, or
redemption (for example: restrictions, escrow
arrangements)
Ordinary shares issued rank pari passu
with existing ordinary shares
Date of issue/acquisition/redemption 14/09/2026
Section 3: Disclosure required for Placements made under Rule 4.5.1
[Issuers may opt to release Section 3 information (if not already done so) in a separate announcement within five Business Days of
the issuance. Delete this Section 3 if capital change is not the result of a Placement 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.
n/a
Section 4: Authority for this announcement and contact person
Name of person

authorised to make this
announcement
Barbara Badish
Contact person for this announcement Todd Hunter
Contact phone number 021 722 818
Contact email address Todd.Hunter@turners.co.nz
Date of release through MAP

14/09/2026