SPH Notice - Te Turanga Ukaipo Charitable Trust (TTUCT)

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Disclosure of movement of 1% or more in substantial holding
or change in nature of relevant interest, or both
Sections 277 and 278, Financial Markets Conduct Act 2013
To NZX Limited
and
To Being AI Limited
Relevant event being disclosed: change in nature of relevant interest
Date of relevant event: 2 October 2026
Date this disclosure made: 6 October 2026
Date last disclosure made: 3 April 2024
Substantial product holder giving disclosure
Full name: Te Turanga Ukaipo Charitable Trust (TTUCT)
Summary of substantial holding
Class of quoted voting products: Ordinary shares (BAI)
Summary for Te Turanga Ukaipo Charitable Trust
For this disclosure,—
(a) total number held in class: 25,000,000
(b) total in class: 175,471,901
(c) total percentage held in class: 14.247%
For last disclosure,—
(a) total number held in class: 250,000,000
(b) total in class: 1,868,018,828
(c) total percentage held in class: 13.383%
Details of transactions and events giving rise to relevant event
On 2 October 2026, TTUCT unconditionally agreed to sell 16,243,952 fully paid ordinary
shares and all entitlements attached to the shares, in BAI to Excalibur Capital Partners
Limited for $0.25 in total. No “relevant agreement” is required to be disclosed.
This transaction is due to complete on 12 October 2026. At that point, TTUCT will hold
8,756,048 shares on issue in BAI (4.99%).
Evan Christian and Katherine Allsopp-Smith have effective control of the voting rights in all
BAI shares held by TTUCT.

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Details after relevant event
Details for TTUCT
Nature of relevant interest(s): Registered holder and beneficial owner of financial products
For that relevant interest,—
(a) number held in class: 25,000,000
(b) percentage held in class: 14.247%
(c) current registered holder: Te Turanga Ukaipo Charitable Trust
(d) registered holder once transfers are registered: N/A
Additional information
Address of substantial product holder: 9 Rarere Road, Takapuna, Auckland, 0622, New
Zealand
Contact details: Evan Christian – +64 21 963463 – evanchristian@wilshire.co.nz
Name of any other person believed to have given, or believed to be required to give, a
disclosure under the Financial Markets Conduct Act 2013 in relation to the financial
products to which this disclosure relates: Not applicable.
Disclosure has effect for purposes of directors’ and senior managers’ disclosure
Katherine Allsopp-Smith is a director of Being AI Limited and Evan Christian is her
alternate director. These disclosures also constitute disclosure for the purposes of the
directors’ and senior managers’ disclosure obligations
Certifications
I, Evan Russell Christian, certify that, to the best of my knowledge and belief, the
information contained in this disclosure is correct and that I am duly authorised to make
this disclosure by all persons for whom it is made.