Notice of Annual Meeting

propertyforindustry.co.nz


18 September 2026

NZX and media
announcement
Property for Industry
Limited (PFI)

NOTICE OF ANNUAL MEETING


The annual meeting of shareholders of Property for Industry Limited (PFI) will be held on Tuesday, 20 October 2026
at 11.00am.

PFI has provided NZX with a copy of the Notice of Meeting and Voting / Proxy form.

These materials will also be emailed or mailed per shareholders’ standing communications preference and are
available on the PFI website: https://www.propertyforindustry.co.nz/investor-relations/annual-meeting.

Attendees have the option of attending the Annual Meeting online, or in person at the Tuhono Room, Ground Floor
Lobby, HSBC Tower, 188 Quay Street, Auckland CBD, Auckland 1010.

ENDS

Authorised by:
Brendan Wright, General Counsel & Company Secretary







ABOUT PFI
PFI is an NZX listed industrial property specialist,
owning over 90 quality properties worth more than
$2 billion. Our well diversified portfolio is focused on
strategic locations that drive value and growth for
the industrial sector, for our tenants, and for our
investors. Since listing on the NZX in 1994, we’ve
built a strong track record of delivering consistent
returns. We invest for the long-term, combining our
capital and specialist industry capability to deliver
the successful outcomes all our stakeholders need.

CONTACT
SIMON WOODHAMS

Chief Executive Officer
—
+64 21 749 770
woodhams@pfi.co.nz
CRAIG PEIRCE

Chief Finance and
Operating Officer
—
+64 21 248 6301
peirce@pfi.co.nz
PROPERTY FOR
INDUSTRY LIMITED

—
Level 4, Hayman
Kronfeld Building,
15 Galway Street,
Auckland 1010
—
PO Box 1147,
Shortland Street,
Auckland 1140

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a
PROPERTY FOR INDUSTRY LIMITED ANNUAL MEETING — 2026
NOTICE OF 2026 ANNUAL
MEETING OF SHAREHOLDERS
Attendees have the option of attending online or in person at the
Tuhono Room, Ground Floor Lobby, HSBC Tower, 188 Quay Street,
Auckland CBD, Auckland 1010
NOTICE IS GIVEN THAT THE ANNUAL MEETING OF THE
SHAREHOLDERS OF PROPERTY FOR INDUSTRY LIMITED
(PFI, THE COMPANY) WILL BE HELD ON:
ANNUAL
MEETING.
TUESDAY, 20 OCTOBER 2026,
COMMENCING AT 11.00 AM

By order of the Board of Directors.
Dean Bracewell
Chair
BOARD AND
MANAGEMENT TEAM
PRESENTATIONS
SHAREHOLDER
DISCUSSION
ORDINARY
RESOLUTIONS
GENERAL
BUSINESS
RESOLUTION 1: That David Thomson, who retires and is
eligible for election, be elected as a Director of the Company.
RESOLUTION 2: That Jeremy Simpson, who retires and is
eligible for election, be elected as a Director of the Company.
RESOLUTION 3: That Murray Jordan (appointed by the Board
as a Director with effect from 1 April 2026), who retires and is
eligible for election, be elected as a Director of the Company.
RESOLUTION 4: That the Directors are authorised to fix the
fees and expenses of the auditors, PricewaterhouseCoopers.
The Board recommends that you vote in
favour of each of the above resolutions.
PROPERTY FOR INDUSTRY LIMITED ANNUAL MEETING — 2026
1
01.
02.
03.
04.

2
EXPLANATORY NOTES.
ORDINARY RESOLUTIONS.
RESOLUTION 01
RE-ELECTION OF DAVID THOMSON
The NZX Listing Rules state that Directors
must not hold office (without re-election)
past the third annual meeting following
the Director’s appointment, or three years,
whichever is longer. Accordingly, David
Thomson is required to retire at this meeting.
David, being eligible, offers himself for
re-election, and the Board unanimously
supports his re-election.
Having regard to the factors described in
the NZX Corporate Governance Code that
may impact director independence, the
Board considers David Thomson will be an
Independent Director, if re-elected.
David has been a Director of PFI since 2018
and was last re-elected in April 2024. David
is a senior partner at law firm Buddle Findlay,
where he specialises in corporate and
commercial law with considerable experience
in mergers and acquisitions, joint ventures,
governance, shareholding arrangements and
commercial contracts. David has more than
30 years of transactional experience across
a wide range of industry sectors.
David advises a number of multi-national
companies in respect of their
New Zealand businesses.
David completed commerce and law degrees
at the University of Canterbury. He then
practiced law in Wellington and London,
before returning to Buddle Findlay in 2000.
David is currently Chair of the
People Committee.

3
PROPERTY FOR INDUSTRY LIMITED ANNUAL MEETING — 2026
RESOLUTION 02
RE-ELECTION OF JEREMY SIMPSON
The NZX Listing Rules state that Directors
must not hold office (without re-election)
past the third annual meeting following
the Director’s appointment, or three years,
whichever is longer. Accordingly, Jeremy
Simpson is required to retire at this meeting.
Jeremy, being eligible, offers himself for
re-election, and the Board unanimously
supports his re-election.
Having regard to the factors described in
the NZX Corporate Governance Code that
may impact director independence, the
Board considers Jeremy Simpson will be an
Independent Director, if re-elected.
Jeremy joined the Board of PFI in February
2024, and was elected in April 2024. Jeremy
has had a career of over 30 years in financial
markets in New Zealand and Australia,
including 27 years as an equity analyst
culminating with a Senior Equity Analyst /
Director role at Forsyth Barr from 2002 to 2021.
Among the various sectors he researched, the
listed property sector was a particular focus,
and Jeremy had a top three market analyst
rating for many of those years.
Jeremy completed a BCA in Accounting
from Victoria University of Wellington. He
is a Chartered Financial Analyst (CFA) and
for around 10 years was a Director of the
Chartered Financial Analyst Society of NZ.
Jeremy is also a Chartered Member of
the Institute of Directors, a Trustee for the
Cancer Rehabilitation Foundation (PINC &
STEEL) and Chair of Rongotai BEST Academy
Charitable Trust.
Jeremy is currently a member of the Audit and
Risk Committee.
EXPLANATORY NOTES.
ORDINARY RESOLUTIONS.

4
RESOLUTION 04
AUDITOR’S FEES AND EXPENSES
Section 207T of the Companies Act
1993 provides that a company’s auditor
is automatically reappointed unless the
shareholders resolve to appoint a replacement
auditor or there is some other reason for the
auditor not to be reappointed.
The Company wishes PricewaterhouseCoopers
to continue as the auditor of the Company,
RESOLUTION 03
ELECTION OF MURRAY JORDAN
The Company’s constitution and the NZX
Listing Rules require that any person appointed
as a Director by the Board must retire at the
next annual meeting but shall be eligible for
election at the meeting. Murray Jordan, being
eligible to do so, is seeking election, and the
Board unanimously supports his election.
Having regard to the factors described in
the NZX Corporate Governance Code that
may impact director independence, the
Board considers Murray Jordan will be an
Independent Director, if elected.
Murray joined the Board of PFI in April 2026.
Murray is currently Chair of Metlifecare
and a Director of Stevenson Group, and
previously served on the Board of Southern
Cross Healthcare. Prior to establishing his
governance career, Murray was Managing
Director of Foodstuffs North Island, GM of
Property Strategy for Foodstuffs and General
Manager of AMP’s unlisted New Zealand
property portfolio. Murray holds a Masters
degree in Property Administration from the
University of Auckland.
Murray is currently a member of the Audit and
Risk Committee.
and PricewaterhouseCoopers has indicated its
willingness to continue in office.
Section 207S of the Companies Act 1993
provides that the fees and expenses of the
auditor are to be fixed in such manner as the
company determines at the annual meeting.
The Board recommends that, consistent with
usual practice, the auditor’s fees and expenses
be fixed by the Directors.
EXPLANATORY NOTES.
ORDINARY RESOLUTIONS.

5
PROPERTY FOR INDUSTRY LIMITED ANNUAL MEETING — 2026
Hybrid Meeting
PFI will host its annual meeting online and in
person this year. Shareholders can participate
in the annual meeting virtually through the
web platform https://meetnow.global/nz by
selecting the required meeting.
Please refer to the Virtual Meeting Guide
available at www.computershare.com/vm-
guide-nz for more information.
To participate, shareholders will need
their CSN/Holder Number and post code.
Shareholders can find their CSN numbers on
their Voting/Proxy Form. Shareholders will
be able to view presentations, ask questions,
cast their vote and view meeting materials
from their own computers, mobiles or
similar devices.
Voting
Voting at the annual meeting shall be decided
by a poll of PFI shareholders entitled to vote
and voting. Set out below are details on voting
matters for the annual meeting.
A Voting/Proxy Form for use at the
annual meeting is enclosed with this
notice of meeting.
If you are attending in person, you should bring
this form to the meeting as it also constitutes
your voting paper.
Entitlement to Vote
Every PFI shareholder whose name is
registered in the share register as at
5.00pm on Friday, 16 October 2026 and
who is present at the meeting in person,
virtually, by proxy, or in the case of a body
corporate shareholder, by representative,
can vote in respect of Resolutions 1 through 4
and shall have one vote in respect of every fully
paid PFI share held by that PFI shareholder at
that time.
How to vote
PFI shareholders can vote in any one of
the following ways:
• virtually (please refer to the instructions in
the Virtual Meeting Guide);
• in person;
• by appointing a proxy online at
www.investorvote.co.nz;
• by appointing a proxy using the enclosed
form; or
• by representative (if the shareholder is a
body corporate).
Proxies and Corporate Representatives
Any shareholder who is entitled to vote at
the annual meeting may appoint a proxy
(or in the case of a corporate shareholder,
a representative) to attend and vote in your
place. A proxy or representative need not
be a shareholder of the Company. You may
direct your proxy or representative to vote,
or give your proxy or representative a discretion
to vote how he/she sees fit. If you wish to give
your proxy or representative such discretion
you should mark the box accordingly. If you
do not mark any box then your direction is
to abstain.
A Voting/Proxy Form is enclosed with
this notice of meeting. If you wish to appoint
a proxy to vote on your behalf, you must
complete the Voting/ Proxy Form and produce
it to the Company so as to be received (either
by post or online) no later than 11.00am on
Sunday, 18 October 2026.
PROCEDURAL NOTES.

6
Alternatively, shareholders can appoint
a proxy online at www.investorvote.co.nz
in accordance with the instructions set out
in the enclosed Voting/Proxy Form.
The Chair of the Meeting is willing to act
as proxy. If you appoint the Chair as proxy
but do not direct him how to vote on any
particular matter, then the Chair intends to
vote in favour of each of the resolutions. If,
in appointing a proxy, you have inadvertently
not named someone to be your proxy but
otherwise completed the Voting/Proxy Form
in full, or your named proxy does not attend the
meeting, the Chair of the Meeting will be your
proxy and will vote in accordance with your
express direction.
If your proxy is not the Chair of the Meeting
or any other director of the Company, please
ensure that you provide their contact details
(phone and email address) on the Voting/Proxy
Form or when appointing your proxy online.
If this information is not provided, we cannot
guarantee remote admission to the virtual
meeting for your proxy.
Required Votes
Resolutions 1 through 4 are ordinary
resolutions that each require a simple majority
of more than 50% of the valid votes cast at the
annual meeting. No voting restrictions apply to
any of the resolutions.
Shareholder Questions
Shareholders present at the meeting will have
the opportunity to ask questions during the
meeting. Please refer to the instructions in the
Virtual Meeting Guide on how shareholders
can ask a question if attending virtually.
In addition, shareholders have the opportunity
to ask questions in advance of the meeting.
If you would like to ask a question please
either email your question to the General
Counsel & Company Secretary: wright@
propertyforindustry.co.nz with ‘Annual Meeting
Question’ in the subject line, or post your
question to the General Counsel & Company
Secretary, Property for Industry Limited, PO
Box 1147, Shortland Street, Auckland 1140.
Please include your name and CSN/Holder
Number. During the meeting, the Board intends
to answer as many of the most frequently
asked questions as is reasonably practicable.
All questions should be received by PFI
by 5.00pm on Monday, 12 October 2026.
Presentations
The presentations from the annual meeting
will be released to the NZX and published
on the Company’s website at https://www.
propertyforindustry.co.nz/investor-relations/
annual-meeting prior to, or during, the
meeting. A summary of the meeting and the
results of voting will be released to the NZX
as soon as practicable following the close
of the annual meeting.
More Information
If you have any questions, or for more
information, please contact PFI’s
General Counsel & Company Secretary,
Brendan Wright on +64 9 303 9450 or
email wright@propertyforindustry.co.nz.
PROCEDURAL NOTES.

7
PROPERTY FOR INDUSTRY LIMITED ANNUAL MEETING — 2026
TUHONO ROOM, GROUND FLOOR LOBBY, HSBC TOWER,
188 QUAY STREET, AUCKLAND CBD.
TUESDAY, 20 OCTOBER 2026 11.00AM
TRANSPORT AND PARKING
Shareholders may use the public transport options available to get to the venue, including bus,
train and ferry. For those who are driving, parking is available in the Downtown Carpark, entry at
31 Customs Street West. From Downtown Carpark, attendees can walk directly through to the
lobby of the HSBC tower at 188 Quay Street. Please refer to the schedule of fees at the carpark
entry. Mobility parking is available in the Downtown Carpark.
Property for Industry Limited
Level 4, Hayman Kronfeld Building,
15 Galway Street,
Auckland 1010
PO Box 1147,
Shortland Street,
Auckland 1140
09 303 9450
info@propertyforindustry.co.nz
propertyforindustry.co.nz
LOCATION.
QUAY ST
LOWER ALBERT ST
STURDEE ST
CUSTOMS ST WEST
LOWER HOBSON ST
Tuhono
Room
Commercial Bay
Quay St entrance
DOWNTOWN CARPARK
Entrance
Walk through
via carpark
HSBC TOWER
AON Centre
M Social Auckland
Lower Albert St
Bus Interchange
Britomart Train Station
Lift
Lobby

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Your secure access information
Control Number: CSN/Shareholder Number:
PLEASE NOTE: You will need your CSN/Shareholder Number and post code to appoint your proxy online.
Go online to appoint your proxy, or turn over to complete the form
Voting/Proxy Form: Property for Industry Limited Annual Meeting, 11am on 20 October 2026.
Voting
Voting at the annual meeting shall be decided by a poll of PFI shareholders entitled to
vote and voting. Set out below are details on voting matters for the annual meeting.
Every PFI shareholder whose name is registered in the share register as at 5.00pm on
Friday, 16 October 2026 and who is present at the meeting in person, virtually, by
proxy, or in the case of a body corporate shareholder, by representative, can vote in
respect of Resolutions 1 through 4 and shall have one vote in respect of every fully
paid PFI share held by that PFI shareholder at that time.
Resolutions 1 through 4 are ordinary resolutions that each require a simple majority of
more than 50% of the valid votes cast at the annual meeting. No voting restrictions apply
to any of the resolutions.
How to Vote
PFI shareholders can vote in any one of the following ways:
§ virtually (please refer to the instructions in the “Virtual Meeting Guide”);
§ in person;
§ by appointing a proxy online at www.investorvote.co.nz;
§ by appointing a proxy using this form; or
§ by representative (if the shareholder is a body corporate).
Appointment of Proxy
Any shareholder who is entitled to vote at the annual meeting may appoint a proxy (or in the
case of a corporate shareholder, a representative) to attend and vote in your place. A proxy or
representative need not be a shareholder of the Company. You may direct your proxy or
representative to vote, or give your proxy or representative a discretion to vote how he/she
sees fit. If you wish to give your proxy or representative such discretion you should mark the
boxes overleaf accordingly. If you do not mark any box then your direction is to abstain.
The Chair of the Meeting is willing to act as proxy. If you appoint the Chair as proxy but do not
direct him how to vote on any particular matter, then the Chair intends to vote in favour
of each of the resolutions. If, in appointing a proxy, you have inadvertently not named someone
to be your proxy but otherwise completed the Voting/Proxy Form in full, or your named proxy
does not attend the meeting, the Chair of the Meeting will be your proxy and will vote in
accordance with your express direction.
Signing Instructions for Postal Forms
Individual
Where a shareholder is an individual, this Voting/Proxy Form must be signed by the shareholder
or his or her duly authorised attorney.
Companies
Where a shareholder is a company, this Voting/Proxy Form must be signed by a director or a
duly authorised attorney or officer.
Trusts
Where a shareholder is a trust, this Voting/Proxy Form should be signed as above by at least
one trustee in accordance with the relevant trust deed (using the rules for an individual or a
company, depending upon whether the trustee is an individual or a company).
Partnerships
Where a shareholder is a partnership, this Voting/Proxy Form should be signed as above by at
least one partner in accordance with the rules governing the partnership (using the rules for an
individual or a company, depending upon whether the partner is an individual or a company).
Joint Shareholders
At least one joint shareholder should sign this Voting/Proxy Form (on behalf of all joint
shareholders). In the case of joint shareholders, if the shareholders appoint different voting
proxies, the vote of the proxy appointed by the first named joint shareholder will be counted.
Seniority shall be determined by the order in which names stand in Property for Industry
Limited’s share register.
Power of Attorney
If this Voting/Proxy Form is completed by an attorney, the power of attorney or a certified copy
must, if not previously produced to Property for Industry Limited, accompany the Voting/Proxy
Form together with a completed certificate of non-revocation of authority.
Body Corporate
A body corporate shareholder may appoint a representative on its behalf in the same manner
as if it were appointing a proxy, provided that the Chair of the meeting, the Board, or the persons
checking the entitlement of people to attend a meeting, shall waive any time limit for prior notice
in respect of a corporation in favour of a person who at a meeting can produce reasonable
evidence of their authority to represent the corporation.
Appoint your proxy
Online
www.investorvote.co.nz
By Mail
Computershare Investor Services Limited
Private Bag 92119, Victoria Street West,
Auckland, New Zealand 1142.
For all enquiries contact
+64 9 488 8777
corporateactions@computershare.co.nz
Appoint your proxy online, 24 hours a day, 7 days a week:
www.investorvote.co.nz
Scan the QR code to appoint your proxy now.
Smartphone?
For your vote to be effective by proxy, the Voting/Proxy Form must be received by 11.00am on Sunday, 18 October 2026.
HYBRID MEETING
PFI will host its Annual Meeting online as well as in person this year. Shareholders can participate in the annual meeting virtually
through the web platform https://meetnow.global/nz by selecting the required meeting. Please refer to the Virtual Meeting Guide available at
www.computershare.com/vm-guide-nz for more information.

ATTENDANCE SLIP
Proxy/Corporate Representative Form
Appoint a Proxy to Vote on Your Behalf
STEP 1
hereby appointof
or failing him/herof
as my/our Proxy to exercise my/our vote in accordance with my/our directions at the Annual Meeting of the Shareholders of Property for Industry Limited to be held
at the Tuhono Room, Ground Floor Lobby, HSBC Tower, 188 Quay Street, Auckland CBD, Auckland 1010, or virtually, on Tuesday, 20 October 2026 commencing at
11.00am and at any adjournment of that meeting, and to vote as my/our proxy thinks fit on any resolution to amend the resolution, on the resolution so amended and on any
other resolution proposed at the meeting (or any adjournment) so as to give effect to my/our intention as set out below where possible.
I/We being a shareholder/s of Property for Industry Limited
Items of Business - Voting Instructions/Ballot Paper
STEP 2
Please note: Unless otherwise instructed, the proxy may vote or abstain from voting as he or she thinks fit.
Signature of Shareholder(s) This section must be completed.
SIGN
or director or duly authorised officer or attorney
Shareholder1Shareholder2Shareholder3
Contact Name Contact Daytime Telephone Date
Resolutions: Annual Meeting
1.

That David Thomson, who retires and is eligible for election, be elected as a Director of the Company.
2.

That Jeremy Simpson, who retires and is eligible for election, be elected as a Director of the Company.
3.

That Murray Jordan (appointed by the Board as a Director with effect from 1 April 2026), who retires and is eligible for
election, be elected as a Director of the Company.
4.
That the Directors are authorised to fix the fees and expenses of the auditors, PricewaterhouseCoopers.
For
Against
Abstain
Proxy
Discretion
If your proxy is not the Chair of the Meeting or any other director of the Company, please ensure that you provide their contact details (phone and email
address). If this information is not provided, we cannot guarantee remote admission to the virtual meeting for your proxy.
Proxy contact Details (Phone): and (Email):
Shareholders can still attend the meeting electronically, even if they have appointed a proxy
(although they will not be able to vote if a proxy has been appointed).
Annual Meeting of the Shareholders of Property for
Industry Limited to be held at the Tuhono Room, Ground
Floor Lobby, HSBC Tower, 188 Quay Street, Auckland
CBD, Auckland 1010, or virtually, on
Tuesday, 20 October 2026 commencing at 11.00am.