Issue of options under the Skellerup Share Option Plan

Capital Change Notice
Section 1: Issuer information
Name of issuer Skellerup Holdings Limited (Skellerup)
NZX ticker code SKL
Class of financial product Unquoted share options (Options), convertible to
Skellerup Holdings Limited ordinary shares
(Shares) pursuant to Skellerup’s Share Option Plan.
ISIN (If unknown, check on NZX website) N/A
Currency NZD
Section 2: Capital change details
Number issued/acquired/redeemed 1,300,000
Nominal value (if any) Nil
Issue/acquisition/redemption price per security Nil
Nature of the payment No consideration is payable for the Options.
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)
The Options comprise 100% of the financial
products of that Class (being the FY26 Grant).
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)
The exercise price for the Options is NZD7.45 per
Option (Exercise Price), being the volume-weighted
average price of Shares on the NZX Main Board for
the twenty-trading-day period beginning on 24
August 2026.
Options vest if the holder remains employed by
Skellerup or a subsidiary of Skellerup (as
applicable) on the vesting date of 3 September
2029.
Provided this condition is met, Option holders may
exercise their Options within the period beginning
on 3 September 2029 and ending on 1 November
2029.
Upon exercise, Option holders will be issued one
Share per Option exercised. Alternatively, on
exercise, Option holders have the opportunity to
direct Skellerup to facilitate a cashless (net settled)
exercise by issuing to the Option holder such
number of Shares as is equal to the difference
between the market value of a Share and the

Exercise Price per Option, multiplied by the
number of Options being exercised, and divided by
the market value of a Share.
The Options will lapse where the participant
ceases to be employed by Skellerup on the vesting
date (except where the Board determines
otherwise).
Reason for issue/acquisition/redemption and
specific authority for
issue/acquisition/redemption/ (the reason for
change must be identified here)
Issue of Options in the FY26 Grant under
Skellerup’s Share Option Plan pursuant to a
directors’ resolution dated 21 September 2026.
Total number of Financial Products of the Class
after the issue/acquisition/redemption/onversion
(excluding Treasury Stock) and the total number of
Financial Products of the Class held as Treasury
Stock after the issue/acquisition/redemption.
1,300,000 Options
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
Directors’ resolution dated 21 September 2026
and NZX Listing Rule 4.6.1.
Terms or details of the issue, acquisition, or
redemption (for example: restrictions, escrow
arrangements)
Options do not entitle the holder to receive
dividends or other distributions or vote in respect
of Shares.
Holders of Options cannot transfer or grant
security interests over their Options without prior
Board approval.
Date of issue/acquisition/redemption Monday, 5 October 2026
Section 3: Authority for this announcement and contact person
Name of person authorised to make this
announcement
Tim Runnalls
Contact person for this announcement Tim Runnalls
Contact phone number +64 27 807 5080
Contact email address tim.runnalls@skellerupgroup.com
Date of release through MAP Tuesday, 6 October 2026