Capital Change Notice - Unquoted Share Rights

Capital Change Notice



Section 1: Issuer information
Name of issuer Precinct Properties Group
NZX ticker code PCT
Class of financial product Unquoted Performance Share Rights
ISIN (If unknown, check on NZX website) NZAPTE0001S3
Currency New Zealand Dollars
Section 2: Capital change details
Number issued/acquired/redeemed 4,533,718 Performance Share Rights
Nominal value (if any) N/A
Issue/acquisition/redemption price per security Performance Share Rights are issued for nil
consideration
Nature of the payment (for example, cash or
other consideration)
N/A
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)
1

68% of all existing Performance Share Rights
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)
Performance Share Rights convert on a 1:1
basis for nil consideration into fully paid
ordinary shares subject to Precinct’s TSR and
FFO performance over a vesting period
between 1 July 2026 and 30 June 2029, and
the participant’s continued employment during
the vesting period.
Performance Share Rights rank behind
Precinct’s ordinary shares, are non-
transferable, cannot be encumbered, and have
no voting or other share rights. Performance
Share Rights are otherwise subject to the
terms of individual award agreements and the
rules of the Precinct Employee Share Scheme
including that Performance Share Rights lapse
at the Board’s discretion in the event of a
material breach of the participant’s
employment obligations, fraud or dishonesty.
Shares will be issued on the first trading day
after vesting of the relevant Performance
Share Right.
Reason for issue/acquisition/redemption and
specific authority for
issue/acquisition/redemption/ (the reason for
change must be identified here)
Issue of Performance Share Rights under
Precinct’s Employee Share Scheme to align
employees’ and shareholders’ interests,
promote retention and facilitate and encourage
employee share ownership.

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

Authorised by a board resolution dated 26
August 2026.
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.
11,199,933 Performance Share Rights

There is no treasury stock.
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 resolution dated 26 August 2026.

NZX Listing Rule 4.6.1 and 4.9.1(b)
Terms or details of the issue, acquisition, or
redemption (for example: restrictions, escrow
arrangements)
No cash consideration is payable by the
participants on the grant of Performance Share
Rights or on the issue of fully paid ordinary
shares following vesting of Performance Share
Rights. As noted above, vesting of
Performance Share Rights is subject to
continued employment and satisfaction of
certain performance hurdles (as applicable).
Date of issue/acquisition/redemption
2
16/09/2026
Section 3: Authority for this announcement and contact person
Name of person

authorised to make this
announcement
Louise Rooney (General Counsel and
Company Secretary)

Contact person for this announcement
Louise Rooney (General Counsel and
Company Secretary)

Contact phone number +64 21 294 3189
Contact email address Louise.Rooney@precinct.co.nz
Date of release through MAP

16/09/2026




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).