Issue of LTI Restricted Share Rights

Capital Change Notice


28 September 2026

Issue of LTI Restricted Share Rights

This notice is given under NZX Listing Rule 3.13.1 and relates to the issue of unlisted restricted
share rights (“RSRs”) in SkyCity Entertainment Group Limited (the “company”) to senior
executives of the company pursuant to the rules of the SkyCity Restricted Share Rights Long
Term Incentive Plan (FY26) & (FY27) (separately and together, the Plan Rules).

Each RSR confers a right to receive one ordinary share in the company, which will only vest if
the relevant senior executive remains continuously employed by the company (or a company
within the SkyCity Group) from the date of issue until the vesting date, as further described
below, and provided that certain financial and non-financial performance measures are met.
To the extent that those vesting conditions are not met, the RSRs will lapse and no shares will
vest to the participating senior executive. Dividends are not payable in connection with the
RSRs.

This issue of these FY26 RSRs has been made to the CEO, on the same terms as those issued
to other senior executives earlier in the year. FY26 LTI RSRs had not previously been issued to
the CEO, and this issue represents all FY26 LTI arrangements for the CEO.

Section 1: Issuer Information
Name of issuer SkyCity Entertainment Group Limited
NZX ticker code SKC
Class of financial product Restricted share rights
ISIN Not quoted
Currency N/A
Section 2: Capital Change Details
Number issued
2,377,696 restricted share rights (FY27 RSRs)
1,704,545 restricted share rights (FY26 RSRs)
Nominal value N/A
Issue price per security Nil
Nature of the payment (for example,
cash or other consideration)
Non-cash consideration is provided in the form of
services rendered and to be rendered by the holders as
employees of the company.
Amount paid up (if not in full) N/A
Percentage of total class of financial
products issued
FY27 RSRs: 100%
FY26 RSRs: 39%
Conversion price Nil
Conversion terms The RSRs will convert into ordinary shares in the
company on: (a) 3 September 2029 with respect to the
FY27 RSRs; and (b) 9 September 2028 with respect to the
FY26 RSRs, each conditional on a participating senior
executive remaining continuously employed up to this

date and provided that prescribed financial and non-
financial performance hurdles are met.

The ordinary shares issued on vesting of RSRs will rank
pari passu with existing ordinary shares of the company.
Reason for issue and specific authority
for issue
Authorised by resolution of the SkyCity Entertainment
Group Limited Board.
The issue of RSRs in accordance with the Plan Rules is
intended to incentivise holders and align their interests
with those of shareholders of the company.
Total number of financial products of
the class after the issue (excluding
treasury stock) and total number of
financial products of the class held as
treasury stock after the issue
2,377,696 FY27 RSRs
4,425,129 FY26 RSRs
None held as treasury stock
Specific authority for the issue,
including reference to the rule
pursuant to which the issue is made
Pursuant to NZX Listing Rule 4.6.1.

Terms or details of the issue The terms of the FY27 RSRs and the FY26 RSRs are set
out in their respective Plan Rules.
The FY27 and FY26 RSRs have the following
performance hurdles:
• in respect of 60% of the RSRs, a comparison of
SkyCity’s total shareholder return over the restrictive
period against the cost of equity for the SkyCity
Group over the restrictive period as determined by
the Board; and
• in respect of 40% of the RSRs, an assessment by the
Board of the achievement of the company against
various prescribed transformation and risk targets.
The FY26 RSRs and FY27 RSRs are also subject to
“malus” and “clawback” provisions, as well as a general
condition whereby the Board may exercise a discretion
to adjust the number of applicable RSRs which vest,
including to reflect the company’s performance or non-
performance in meeting its regulatory, risk and
compliance obligations.
Date of issue FY27 RSRs: 28 September 2026
FY26 RSRs: 28 September 2026
Section 3: Authority for this Announcement and Contact Person
Name of person authorised to make
this announcement
Phil Leightley
General Counsel & Company Secretary
Contact person for this announcement Phil Leightley
Contact phone number
(09) 971 5506
Contact email address
phil.leightley@skycity.co.nz
Date of release through MAP 28 September 2026