Kiwi Property launches Green Bond offer

Kiwi Property Group Limited (Kiwi Property) today announced it is offering up to NZ$150
million (plus up to NZ$50 million of oversubscriptions at its discretion) of 7-year fixed-rate
senior secured green bonds (Green Bonds) to institutional and New Zealand retail
investors.

The offer opens today and will be made pursuant to the Financial Markets Conduct Act
2013 as an offer of debt securities of the same class as existing quoted debt securities.

The indicative margin range for the Green Bonds is 1.20% to 1.30% per annum, subject to a
minimum interest rate of 5.55% per annum. An announcement of the actual margin and
interest rate is expected to be made via NZX on 23 October 2026 following a bookbuild
process.
Full details of the Green Bond offer are contained in the attached indicative terms
sheet.

The Green Bonds are expected to be quoted on the NZX Debt Market and are expected
to be assigned an issue credit rating of BBB+ by S&P Global Ratings.
1

There is no public pool for the offer, with all the Green Bonds reserved for clients of the
Joint Lead Managers, NZX participants and other approved financial intermediaries.
Interested investors should contact their usual financial adviser for more details.

The offer is expected to close on 23 October 2026.

Arranger and Joint Lead Manager:
Craigs Investment Partners Limited

Joint Lead Managers:
ANZ Bank New Zealand Limited ( Green Bond Co-ordinator)
Bank of New Zealand
Forsyth Barr Capital Markets Limited


ENDS

1
Further information about S&P Global Ratings’ credit rating scale is available at www.spglobal.com/ratings. A
rating is not a recommendation by any rating organisation to buy, sell or hold Kiwi Property securities. Kiwi
Property’s corporate credit rating is current as at the date of this announcement and (together with any rating
ascribed to the Green Bonds) may be subject to suspension, revision or withdrawal at any time by S&P Global
Ratings.
NZX RELEASE
20 October 2026

Kiwi Property launches Green Bond offer

2

For further information:
Fraser Gunn
Head of Strategic Finance and Investor Relations
fraser.gunn@kp.co.nz
+64 21 973 534


About us:
Kiwi Property (NZX: KPG) is one of the largest listed property companies on the New
Zealand Stock Exchange and is a member of the S&P/NZX 20 Index. We have been
around for over 30 years and proudly own and manage a significant real estate portfolio
comprising some of New Zealand’s best mixed-use, retail and office buildings. Our
objective is to provide investors with a reliable investment in New Zealand property
through the ownership and active management of a diversified, high-quality portfolio.
Kiwi Property is licensed under the Real Estate Agents Act 2008. To find out more, visit our
website, kp.co.nz

---

KPG080
Green Bond
Presentation
20 October 2026

Important information
2
This Presentation (Presentation) has been prepared by Kiwi Property Group Limited (Kiwi
Property) in relation to the offer of fixed-rate senior secured green bonds (Green Bonds) by Kiwi
Property (Offer). The Offer is made in reliance upon the exclusion in clause 19 of schedule 1 of
the Financial Markets Conduct Act 2013 (FMCA).
The Green Bonds which are the subject of the Offer have identical rights, privileges, limitations
and conditions (except for the interest rate and maturity date) as Kiwi Property’s:
•$125 million fixed-rate senior secured green bonds maturing on 27 September 2029 (with a
fixed interest rate of 6.24% per annum), which are quoted on the NZX Debt Market under
the ticker code KPG060 (KPG060 Bonds), and
•$125 million fixed-rate senior secured green bonds maturing on 19 June 2030 (with a fixed
interest rate of 5.35% per annum), which are quoted on the NZX Debt Market under the
ticker code KPG070 (KPG070 Bonds).
(together, the Existing Bonds)
Kiwi Property is subject to a disclosure obligation that requires it to notify certain material
information to NZX Limited (NZX) for the purpose of that information being made available to
participants. See: www.nzx.com/companies/KPG/announcements
.
The Existing Bonds are the only debt securities of Kiwi Property that are in the same class as the
Green Bonds and are currently quoted on the NZX Debt Market. Investors should look to the
market price of the Existing Bonds to find out how the market assesses the returns and risk
premium for those bonds.
Capitalised terms used in this Presentation but not defined have the meaning given to them in
the indicative terms sheet dated 20 October 2026.
Disclaimer
The information in this Presentation is given in good faith and has been obtained from sources
believed to be reliable and accurate at the date of preparation, but its accuracy, correctness
and completeness cannot be guaranteed. The information in this Presentation is of a general
nature and does not constitute financial product advice, investment advice or any
recommendation by Kiwi Property, the Supervisor, the Arranger, the Green Bond
Co-ordinator, the Joint Lead Managers, or any of their respective directors, officers, employees,
affiliates, agents or advisers to subscribe for or purchase the Green Bonds.
None of the Supervisor, the Arranger, the Green Bond Co-ordinator, the Joint Lead Managers, or
any of their respective directors, officers, employees, affiliates, agents or advisers:
(a) accept any responsibility or liability whatsoever for any loss arising from this Presentation or its
contents or otherwise arising in connection with the Offer, (b) authorised or caused the issue of,
or made any statement in, any part of this Presentation, or (c) make any representation,
recommendation or warranty, express or implied, regarding the origin, validity, accuracy,
adequacy, reasonableness or completeness of, or any errors or omissions in, any information,
statement or opinion contained in this Presentation. You must make your own independent
investigation and assessment of the financial condition and affairs of Kiwi Property before
deciding whether or not to invest in the Green Bonds.
To the extent that certain statements contained in this Presentation may constitute “forward-
looking statements”, the information reflects Kiwi Property's intent, belief or expectations at the
date of this Presentation. Kiwi Property gives no undertaking to update this information over time
(subject to legal or regulatory requirements). Forward-looking statements involve known and
unknown risks, uncertainties and other factors that may cause Kiwi Property's actual results,
performance or achievements to differ materially from any future results, performance or
achievements expressed or implied by these forward-looking statements. Any forward-looking
statements, opinions and estimates in this Presentation are based on assumptions and
contingencies which are subject to change without notice, as are statements about market and
industry trends, which are based on interpretations of current market conditions. Neither Kiwi
Property nor any other person gives any representation, assurance or guarantee that the
occurrence of the events expressed or implied in any forward-looking statements in this
Presentation will actually occur.
All data in this Presentation is as at 30 June 2026, unless otherwise indicated. Figures as at
31 March 2026 have been audited, all other figures included in this Presentation have not been
subject to audit or review procedures and represent the best information available to Kiwi
Property at the time this Presentation was prepared but may be subject to change. The property
valuations reflect the properties’ book values as at 30 September 2026 and remain subject to
finalisation and review. Property statistics represent owned assets only and exclude development
property; property interests managed on behalf of third parties are excluded. Owned assets
include assets any member of the Group owns outright or in part (for example, through an
unincorporated joint venture).All retail sales data includes GST. Retail sales information has been
obtained from third parties or, where such information has not been provided by third parties,
estimated by Kiwi Property Group based on information available to it. Retail sales information
has not been independently verified and may not be complete where third parties have not
provided complete sales information and Kiwi Property has not estimated retail sales information.
This presentation should not be relied upon as a representation, warranty or undertaking in
relation to the currency, accuracy, reliability or completeness of the sales information contained
in this presentation. All amounts are in New Zealand dollars. Due to rounding, numbers within this
Presentation may not add precisely to the totals provided and percentages may not precisely
reflect the absolute figures.

Kiwi Property overview
3

Retail-focused strategy
4
Ambition to be New Zealand’s leading creator of retail-led destinations, delivering superior experiences and returns.
We deliver compelling
experiences that meet the
evolving needs of
customers and tenants
We actively manage the
balance sheet and allocate
capital with discipline to
fund growth and deliver
superior returns
We operate a high-
performing organisation
with the people and
systems to deliver
consistently and adapt
with confidence
We own and operate a
portfolio of the best
retail-led mixed-use assets
in the best locations
AssetsCapitalCustomerCapability

Our investment portfolio
5
$3.0b
Total property
portfolio
1
Sylvia Park
Sylvia Park precinct
Resido
Sylvia Park precinct
Aurora Centre
Sylvia Park Lifestyle
Sylvia Park precinct
LynnMall
Vero Centre
3.6 years
Weighted average
lease expiry (WALE
2
)
97.5
%
Portfolio
occupancy
392,166
Square metres
net lettable area
37m
Annual customer
visits
Retail-led
mixed-use
OfficeOther
1: Includes Drury land classified as inventories.
2: Excludes Resido, our build-to-rent residential development.
Geneva House
Sylvia Park precinct
The Base Te Awa
ANZ Raranga
Sylvia Park precinct
Centre Place North
The Base LFR

Trading update
6
Sales and foot traffic growth
•IKEA continues to drive strong foot traffic at Sylvia Park,
particularly on Level 1
•Annualised portfolio pedestrian counts to 30 September
2026 lifted 3.7% to 37 million
•Portfolio sales for the 12 months to 30 September 2026
were $1.9 billion, up 1.9% on the prior year
Furniture precinct building at Sylvia Park Lifestyle
•Furniture sales at Sylvia Park Lifestyle were a standout
performer, up over 15% across the 12 months to 30
September 2026
Leasing update
•STACKS Supermarket and BBQ opened in Sylvia Park’s
northern precinct in July, attracting strong customer
demand from day one
•Sylvia Park enhanced its retail mix with the openings of
Adidas and LEGO, alongside Mecca’s expanded flagship
store

Focus on long-term value creation
7
Disciplined capital allocation
•Capital is prioritised towards earnings accretive, appropriately
risk-adjusted opportunities aligned with our strategic objectives,
and actively recycled to continuously improve portfolio quality
•Selective investment into higher-return opportunities where risk
is well understood and supported by proven capability
Investment focus areas
•Strong, sustainable earnings supported by defensible demand
drivers, with resilience through the cycle underpinned by scale,
location, quality and income durability
Core
Value Add
Opportunistic
7-9% p.a.
9-15% p.a.
15%+ p.a.
Investment type
Target property
returns
(pre-tax IRR)
Typical return focus
Stable, lower-risk income
Enhanced returns through leasing,
re -mixing & densification
Capital-led returns
Kiwi Property’s investment decision-making framework:
Developing the future
•Kiwi Property's Drury development comprises
~53.4 hectares of gross land area
•~77% of large-format retail land intended to
be sold at Drury is now under contract, with
settlement and profit recognition expected in
the next two years

Our sustainability priorities
8
Manage investments for
sustainability performance
•Sustainable developments
•Energy efficiency
•Sustainable finance
Decarbonise and reduce
our footprint
•Emissions reduction
•Environmental impact
Demonstrate resilience
•Climate risk mitigation
•Adaptation
2026 highlights
•6 star NABERSNZ shopping
centre energy pilot rating for
Sylvia Park
•6 star NABERSNZ rating for
ANZ Raranga
•5.5 star NABERSNZ rating for
Geneva House and Aurora
Centre

Geneva HouseANZ RarangaAurora CentreVero CentreResido
Asset class:
Office OfficeOfficeOfficeBuild-to-rent
Location:
AucklandAucklandWellingtonAucklandAuckland
Owned since:
March 2023December 2018
April 2004April 2001June 2024
Book Value (30 Sep 26):
$64.9m
$84.0m
$146.7m$460.6m$200.0m
Capitalisation rate:
6.25%
6.25%
6.88%6.13%N/A
Net lettable area:
7,277 sqm
11,620 sqm
24,505 sqm39,720 sqm295 apartments
Occupancy:
98.7%
100.0%
100.0%94.8%95.7%
WALE:
8.0 years
2.6 years
7.5 years4.7 yearsN/A
Rating:
5.5 star NABERSNZ
6 Green Star
6 star NABERSNZ
5 Green Star Design
5.5 star NABERSNZ4.5 star NABERSNZ9 star Homestar
Key tenants:
Geneva Finance, IWG,
Local Doctors, ASB
ANZ, IAGMinistry of Social
Development
Suncorp, Craigs,
Russell McVeagh
Urban Rest
Current green asset portfolio
9
Current green asset pool
Current combined green asset pool is $956m, representing 1.6x green asset bond cover
1
1: Pro forma green asset bond cover including current bond on offer. Eligible Projects for the purposes of the green asset bond cover are determined in accordance with the eligibility criteria set out in the Sustainable
Debt Framework and are assessed as at the bond issue date.

NABERSNZ Energy Rating for Shopping Centres
10
Sylvia Park
1
The Base Te Awa
Asset class:
Shopping CentreShopping Centre
Location:
AucklandHamilton
Owned since:
June 2007May 2016
Book Value (30 Sep 26):
$1,145.0m
$111.4m
2
Capitalisation rate:
5.88%
N/A
Net lettable area:
93,687 sqm
33,937 sqm
Occupancy:
99.3%
100.0%
WALE:
2.9 years
2.8 years
Rating:
6 star Pilot NABERSNZ5 star Pilot NABERSNZ
Key tenants:
Farmers, Kmart, H&M, Zara,
HOYTS, PaknSave
Farmers, HOYTS, JB Hi-Fi,
Timezone
Pilot rated shopping centres
1: Excludes Sylvia Park Lifestyle.
2: Valuation is calculated based on the notional split of The Base components undertaken in March 2026, applied to the 30 September 2026 valuation; represents Kiwi Property’s 50% ownership interest.
NABERSNZ Energy Rating for Shopping Centres
•Historically, Kiwi Property'sgreen asset portfolio consisted
primarily of office assets, due to rating availability
•In 2026, the New Zealand Green Building Council (NZGBC),
with the support of Kiwi Property, introduced the NABERSNZ
Shopping Centre Energy Rating tool to New Zealand
•Pilot ratings using the newly introduced tool were
undertaken at Sylvia Park and The Base Te Awa
Pilot ratings
•Sylvia Park achieved a 6 star NABERSNZ Shopping Centre
Energy Pilot rating and The Base Te Awa achieved a 5 star
Pilot rating
•NABERSNZ ratings range from 1 to 6 stars, with 6 stars
representing market-leading performance
•Sylvia Park and The Base Te Awa are not currently part of
Kiwi Property’s green asset portfolio. If the Pilot ratings are
confirmed as final ratings, Kiwi Property intends to include
these assets as Eligible Projects under its Sustainable Debt
Framework

Financial overview
11

Pro forma
1
debt maturity profile as at 30 September 2026 ($m)
%
FY27
0%
FY28
0%
FY29
16.0%
FY30
24.0%
FY31
28.7%
FY32
18.0%
FY33
0%
FY34
13.3%
-
270
305
235
90
-
-
125
125
150
-
-
200
-
-
-
Capital management – debt profile
12
Bank facilities
•$200m of bank debt facilities were
cancelled following the divestment of ASB
North Wharf in May 2026
•Bank facility refinance recently completed
in August 2026
•Gearing at 30 September 2026 was 34.4%
Bonds and banking profile
Sep 2026
$m
Mar 2026
$m
Total bonds outstanding 400.0400.0
Bank facility drawn655.0816.0
Total debt outstanding 1,055.01,216.0
Banking facility limit900.01,100.0
Headroom245.0284.0
Weighted average term to maturity3.5 years2.9 years
BondBankBond currently on offer
1: As at 30 September 2026 as if the current bond offer had been completed as at that date.

Capital management – cost of debt
13
Fixed-rate profile (including $400m of bonds)
Percentage of drawn finance debt at fixed rates78%74%
Weighted average interest rate of active fixed-rate debt (excl. fees and
margins)
3.61%3.59%
Weighted average term to maturity of active fixed-rate debt (years)
2.292.36
Fixed-rate debt maturity profile
Weighted average interest rate of 5.00%
•Bank refinance extended bank debt
facility tenor for no material increase in
cost of debt, and positions Kiwi Property
with a stronger maturity profile
Fixed-rate profile
•The hedging level increased following
settlement of the ASB North Wharf sale
•This provides fixed cover for the year
ahead in an uncertain interest rate
environment
Bond and bank facilitiesSep 2026Mar 2026
Weighted average interest rate (inclusive of bonds, active interest rate
derivatives, margins and line fees)
5.00%4.81%
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
-
100
200
300
400
500
600
700
800
900
Sep 26Sep 27Sep 28Sep 29Sep 30Sep 31
Face value of active hedges (including bonds) ($m) (LHS)
Weighted average interest rate of fixed-rate debt (excl. fees and margins) (%) (RHS)

Fixed-rate Green Bond offer
Arranger and
Joint Lead Manager:
Joint Lead Managers:
Green Bond Co-ordinator and
Joint Lead Manager:
14

Green Bond offer details
15
Up to $150m fixed-rate senior secured
Green Bonds (with the ability to accept
oversubscriptions of up to an additional $50m)
7 year term, maturing on 2 November 2033
Secured against $3.0b of property assets
including $956m of current green assets
1
1: Draft book values as at 30 September 2026 of current Eligible Projects under Kiwi Property’s Sustainable Debt Framework.

Green Bond offer details
16
Issuer:Kiwi Property Group Limited (Kiwi Property).
Description:Fixed-rate senior secured green bonds (Green Bonds).
Offer amount:Up to $150m (with the ability to accept oversubscriptions of up to an additional $50m at Kiwi Property’s discretion).
Term and Maturity Date:7 years, maturing on 2 November 2033.
Interest Rate:
To be determined on the Rate Set Date following a bookbuild process. The Interest Rate will be the greater of the Minimum Interest Rate (5.55%
per annum) and the sum of the Base Rate plus the Margin.
Indicative Margin range:1.20% to 1.30% per annum.
Interest payments:Semi-annual in arrear on 2 May and 2 November.
Credit rating:
The Green Bonds are expected to be assigned a BBB+ credit rating from S&P Global Ratings Australia Pty Limited, consistent with the rating of
the Existing Bonds.
Minimum application amount:$5,000 and in multiples of $1,000 thereafter.
Quotation:It is expected that the Green Bonds will be quoted under the ticker code KPG080 on the NZX Debt Market.
Events of Default:
Events of Default include (among others):
•Non-payment of interest or principal
•An unremedied gearing ratio breach
•Insolvency

Green Bond offer details (continued)
17
Sustainable Debt
Framework:
Kiwi Property intends to notionally allocate an amount equal to the proceeds of the Offer to finance or refinance its direct and indirect investments in low
carbon and energy efficient buildings that meet the eligibility criteria set out in the Sustainable Debt Framework (being Eligible Projects). Consistent with
this, Kiwi Property will apply the net proceeds of the Green Bonds to repay bank debt. Kiwi Property intends to ensure that the aggregate value of the pool
of Eligible Projects is at least equal to the aggregate amount of all its outstanding green bonds and green loans.
Guarantors:
Kiwi Property and its wholly-owned subsidiaries, Kiwi Property Holdings Limited, Kiwi Property Holdings No. 2 Limited, Kiwi Property Holdings No. 3 Limited,
Kiwi Property Holdings No. 4 Limited, Kiwi Property Holdings No. 5 Limited, Kiwi Property Holdings No. 7 Limited, Sylvia Park Business Centre Limited, Kiwi
Property Te Awa Limited and Kiwi Property Centre Place Limited on a joint and several basis.
Ranking:
In an insolvency of a Guarantor, the claims of the senior secured creditors (including the holders of Green Bonds) will, by virt ue of the security granted in
favour of the Security Trustee, rank ahead of all unsecured creditors of the relevant Guarantor other than certain statutorily preferred creditors.
No green
Event of Default:
No Event of Default will occur if Kiwi Property fails to comply with the Sustainable Debt Framework or the Green Bonds cease to satisfy the Green Bond
Principles.
Security:
The Green Bonds are issued by Kiwi Property and guaranteed by the Guarantors on a joint and several basis. The Guarantors have granted security over all
of their assets in favour of the Security Trustee:
•Security interest over all personal property
•Charge over all real property
•Registered mortgages over substantially all real property owned by the Guarantors
The Security Trustee holds this security for the benefit of the holders of the Green Bonds and certain other secured creditors of the Group (including the
holders of Kiwi Property’s existing green bonds, the Group's bank facility lenders and hedging providers, the Supervisor, the Security Trustee and any new
future secured creditors) on an equal ranking basis. The security secures all amounts owing to the secured creditors.
Gearing ratio: The Group’s finance debt must not exceed 50% of the Group’s total tangible assets.

Key dates
18
Opening Date:20 October 2026
Closing Date:11:00am on 23 October 2026
Rate Set Date:23 October 2026
Issue Date:2 November 2026
Expected Date of Initial Quotation on NZX Debt Market:3 November 2026
Maturity Date:2 November 2033

Thank you
Thank you

---

Indicative Terms Sheet
Indicative
Terms Sheet
Indicative Terms Sheet for an offer of
7-year fixed-rate senior secured green
bonds by Kiwi Property Group Limited
20 October 2026
Green Bond
Co-ordinator and
Joint Lead Manager:
Joint Lead
Managers:
Arranger and
Joint Lead
Manager:

Kiwi Property2Indicative Terms Sheet
Indicative Terms Sheet dated
20 October 2026
This indicative terms sheet (Terms Sheet) sets out the key terms of the offer (Offer) by Kiwi Property Group Limited
(Kiwi Property) of up to NZ$150 million (with the ability to accept oversubscriptions of up to an additional NZ$50 million at Kiwi
Property’s discretion) of 7-year (maturing on 2 November 2033) fixed-rate senior secured green bonds (Green Bonds). The
Green Bonds will be issued under a master trust deed dated 30 June 2014 (as amended from time to time) (Master Trust Deed)
and supplemented by a supplemental trust deed dated 20 October 2026 entered into between Kiwi Property as issuer and
Public Trust as supervisor (Supervisor) (together, the Bond Trust Documents). Unless the context otherwise requires,
capitalised terms used in this Terms Sheet have the same meaning given to them in the Bond Trust Documents.
Important notice
The Offer by Kiwi Property is made in reliance upon the exclusion in clause 19 of schedule 1 of the Financial Markets Conduct Act
2013 (FMCA).
The Offer contained in this Terms Sheet is an offer of Green Bonds that have identical rights, privileges, limitations and conditions
(except for the interest rate and maturity date) as Kiwi Property’s:
(a) NZ$125 million fixed-rate senior secured green bonds maturing on 27 September 2029 (with a fixed interest rate of 6.24% per
annum), which are currently quoted on the NZX Debt Market under the ticker code KPG060; and
(b) NZ$125 million fixed-rate senior secured green bonds maturing on 19 June 2030 (with a fixed interest rate of 5.35% per
annum ), which are currently quoted on the NZX Debt Market under the ticker code KPG070,
(together, the Existing Bonds).
The Green Bonds are of the same class as the Existing Bonds for the purposes of the FMCA and the Financial Markets Conduct
Regulations 2014.
Kiwi Property is subject to a disclosure obligation that requires it to notify certain material information to NZX Limited (NZX) for
the purpose of that information being made available to participants in the market and that information can be found by visiting
www.nzx.com/companies/KPG/announcements.
The Existing Bonds are the only debt securities of Kiwi Property that are in the same class as the Green Bonds and are currently
quoted on the NZX Debt Market.
Investors should look to the market price of the Existing Bonds to find out how the market assesses the returns and risk premium
for those bonds.
The dates set out in this Terms Sheet are indicative only and are subject to change. Kiwi Property has the right in its absolute
discretion and without notice to close the Offer early, to extend the Closing Date (subject to the NZX Listing Rules), or to choose
not to proceed with the Offer. If the Closing Date is changed, subsequent dates may be changed accordingly.
Copies of the Bond Trust Documents will be made available by Kiwi Property for inspection during usual business hours at Kiwi
Property’s registered office listed on the final page of this Terms Sheet (or such office as Kiwi Property may notify the holders of
the Green Bonds (Holders) from time to time).
Investors should seek qualified, independent financial and taxation advice before deciding to invest.
For further information regarding Kiwi Property, visit www.nzx.com/companies/KPG.
IssuerKiwi Property Group Limited.
GroupKiwi Property and each of its subsidiaries.
DescriptionFixed-rate senior secured green bonds of Kiwi Property.
Offer amountUp to NZ$150 million (with the ability to accept oversubscriptions of up to an additional
NZ$50 million at Kiwi Property’s discretion).
The Offer is not underwritten.
Issue Price and Principal
Amount
NZ$1.00 per Green Bond.
Term and Maturity Date7 years, maturing on 2 November 2033.
Opening Date Tuesday, 20 October 2026.
Closing Date11.00am, Friday, 23 October 2026.
Rate Set DateFriday, 23 October 2026.

Kiwi Property3Indicative Terms Sheet
Issue DateMonday, 2 November 2026.
Credit ratingsExpected Issue Credit RatingKiwi Property Credit
Rating
S&P Global Ratings Australia Pty
Limited (S&P)
BBB+BBB (stable outlook)
S&P is expected to assign a BBB+ issue credit rating to the Green Bonds. S&P has also assigned
a BBB (stable outlook) long-term credit rating for Kiwi Property.
A rating is not a recommendation by any rating organisation to buy, sell or hold Green Bonds.
The above ratings are current as at the date of this Terms Sheet and may be subject to
suspension, revision or withdrawal at any time.
Sustainable Debt Framework,
use of proceeds and Green
Bond Principles
In accordance with Kiwi Property’s Sustainable Debt Framework dated October 2026
(as amended from time to time) (the Sustainable Debt Framework), Kiwi Property intends
to notionally allocate an amount equal to the proceeds of the Offer to finance or refinance its
direct and indirect investments in low carbon and energy efficient buildings that qualify as
“Eligible Projects” under the Sustainable Debt Framework. Consistent with this, Kiwi Property
will apply the net proceeds of the Offer to repay bank debt.
To qualify as an Eligible Project, a building must meet one or more of the eligibility criteria set
out in the Sustainable Debt Framework. For the purposes of the Green Bonds:
• the eligibility criteria that apply during the term of the Green Bonds are those in place as at
the Issue Date; and
• a building that qualifies as an Eligible Project on the Issue Date will not cease to be an
Eligible Project for the purposes of the Green Bonds solely because it does not meet
different criteria applicable to green debt issued on a later date (including as set out in the
Sustainable Debt Framework for green debt issued from 1 January 2027).
In accordance with the Sustainable Debt Framework, Kiwi Property intends to:
• ensure that the aggregate value of the pool of Eligible Projects is at least equal to the
aggregate amount of all of its outstanding green bonds (including the Green Bonds) and
green loans; and
• maintain a register that (among other things) outlines the current value of the Eligible
Projects and the allocation of proceeds (including an amount equal to the proceeds of the
Green Bonds).
As at the date of this Terms Sheet, in accordance with the Sustainable Debt Framework, Kiwi
Property has processes in place to identify and evaluate its Eligible Projects and manage the
use of proceeds of the Green Bonds in accordance with the Green Bond Principles (the Green
Bond Principles) as published by the International Capital Market Association.
Kiwi Property intends to seek assurance from a limited assurance provider on an annual basis
in relation to its green debt (including the Green Bonds).
The Sustainable Debt Framework does not form part of the contractual terms of the Green
Bonds. If Kiwi Property fails to comply with the Sustainable Debt Framework or the relevant
market standards described in the Sustainable Debt Framework (including the Green Bond
Principles) or if the Green Bonds cease to satisfy the Green Bond Principles:
• this does not constitute an Event of Default or any other breach in relation to the Green
Bonds;
• there is no requirement on Kiwi Property to repay the Green Bonds early; and
• the Green Bonds may cease to be labelled as “green”.
This means there is no legal obligation for Kiwi Property to comply with the Sustainable Debt
Framework or the relevant market standards described in the Sustainable Debt Framework
(including the Green Bond Principles) on an ongoing basis.
A copy of the Sustainable Debt Framework (and the most recent use of proceeds report and
assurance statement) is available on Kiwi Property’s website at https://www.kiwiproperty.com/
investors/sustainable-debt-framework/.

Kiwi Property4Indicative Terms Sheet
Interest Rate
Th
e Green Bonds will pay a fixed rate of interest until the Maturity Date.
The Interest Rate will be no lower than a minimum Interest Rate of 5.55% per annum (Minimum
Interest Rate).
The Interest Rate will be determined by Kiwi Property (in consultation with the Joint Lead
Managers) on the Rate Set Date (23 October 2026) following a bookbuild process (Bookbuild)
and will be the greater of:
•the Minimum Interest Rate; and
•the sum of the Base Rate plus the Margin.
The Interest Rate will be announced by Kiwi Property via NZX on or about the Rate Set Date.
Indicative Margin range
1
.20% to 1 .30% per annum.
MarginThe Margin (which may be within, above or below the indicative Margin range) is the rate
(expressed as a percentage rate per annum) determined by Kiwi Property (in consultation with
the Joint Lead Managers) following the Bookbuild. The Margin will be announced by Kiwi
Property via NZX on or about the Rate Set Date.
Base RateThe semi-annual mid-market rate for an interest rate swap of a term matching the period from
the Issue Date to the Maturity Date as calculated by the Joint Lead Managers in consultation
with Kiwi Property, according to market convention, with reference to ICAP New Zealand
Limited (Bloomberg ICNZ2) (or any successor page) on the Rate Set Date (rounded to 2 decimal
places if necessary, with 0.005 being rounded up).
Interest paymentsSemi-annually in arrear in equal payments.
Interest Payment DatesInterest is payable on each semi-annual Interest Payment Date, being 2 May and 2 November in
each year during the term of the Green Bonds, starting on 2 May 2027 and until and including
the Maturity Date.
If an Interest Payment Date is not a Business Day, Kiwi Property will make payment on the next
Business Day, but no adjustment will be made to the amount of the interest payable.
Entitlement to paymentsPayments of interest on the Green Bonds will be made to the persons who are the Holders as
at 5pm (New Zealand time) on the 10th calendar day before the relevant Interest Payment Date.
Payments of any other amount will be made to the persons who are the Holders as at 5pm
(New Zealand time) on the day determined by Kiwi Property and notified to NZX.
If such a day is not a Business Day, payments will be made to the persons who are the Holders
as at 5pm (New Zealand time) on the immediately preceding Business Day.
GuarantorsCertain of Kiwi Property’s wholly-owned subsidiaries guarantee the obligations of Kiwi
Property in relation to the Green Bonds pursuant to a global security deed dated 5 November
1998 (as amended from time to time) (GSD).
At the date of this Terms Sheet, the guaranteeing subsidiaries are Kiwi Property Holdings
Limited, Kiwi Property Holdings No. 2 Limited, Kiwi Property Holdings No. 3 Limited, Kiwi
Property Holdings No. 4 Limited, Kiwi Property Holdings No. 5 Limited, Kiwi Property Holdings
No. 7 Limited, Sylvia Park Business Centre Limited, Kiwi Property Te Awa Limited and Kiwi
Property Centre Place Limited (together with Kiwi Property, the Guarantors).
The total assets held by the Guarantors must equal or exceed 90% of the total assets of the
consolidated Group.
GuaranteeEach Guarantor guarantees the due and punctual payment of all amounts payable by Kiwi
Property in respect of the Green Bonds on a joint and several basis. There are no limits on the
obligations of the Guarantors in respect of the amounts owing under the guarantee.
SecurityEach Guarantor (including Kiwi Property) has granted security over all of its assets under the
GSD in favour of New Zealand Permanent Trustees Limited acting as security trustee (Security
Tr u stee). The security granted under the GSD includes a security interest over all personal
property and a charge over all real property, and secures all amounts owing to the Group’s
senior secured creditors (including Holders of the Green Bonds, holders of Kiwi Property’s
other senior secured bonds and the Group’s bank facility lenders and hedging providers).
Under the Group’s bank facility documentation, subject to certain limited exceptions, each
Guarantor undertakes in favour of the Group’s bank facility lenders to grant a registered
mortgage over any real property it owns (being land and the buildings and other fixtures on
that land) in favour of the Security Trustee.
While the registered mortgages secure all amounts owing to the Group’s senior secured
creditors (including Holders of the Green Bonds), the undertaking in the Group’s bank facility
documentation to grant registered mortgages is given for the benefit of the Group’s bank
facility lenders only. This undertaking may be amended or waived by the Group’s bank facility
lenders at any time without the consent of the Holders of the Green Bonds, or expire if the
Group’s bank facility documentation terminates before the Maturity Date.

Kiwi Property5Indicative Terms Sheet
RankingIn an insolvency of Kiwi Property or a Guarantor, the claims of the senior secured creditors
(including Holders of the Green Bonds) will, by virtue of the security granted in favour of the
Security Trustee, rank ahead of all unsecured creditors of Kiwi Property or the relevant
Guarantor other than certain creditors preferred by law (for example, certain amounts payable
to the Inland Revenue).
Gearing ratioUnder the Master Trust Deed, Kiwi Property undertakes to ensure that, for so long as the Green
Bonds are outstanding, finance debt of the Group does not exceed 50% of the total tangible
assets of the Group.
Further indebtedness and
other covenants
The Group can create further liabilities (including by issuing new secured bonds and by
incurring additional bank debt) without the consent of Holders. However, there are covenants
in the Master Trust Deed and other documents that have the effect of restricting the Group's
ability to create further liabilities that rank equally with or in priority to the Green Bonds.
No early repaymentKiwi Property must repay all of the Green Bonds on the Maturity Date. Kiwi Property has no
right to repay your Green Bonds before the Maturity Date. Similarly, you have no right to require
that your Green Bonds be repaid before the Maturity Date unless an Event of Default
has occurred.
Business DaysA day (other than a Saturday or Sunday) on which registered banks are generally open for
business in Wellington and Auckland.
Minimum application amountNZ$5,000 with multiples of NZ$1,000 thereafter.
Tra nsfersYou may only transfer your Green Bonds in multiples of NZ$1,000 in aggregate Principal
Amount and after any transfer you and the transferee must each hold Green Bonds with an
aggregate Principal Amount of at least NZ$5,000 (or no Green Bonds).
ISINNZKPGD0080L0.
NZX Debt Market QuotationIt is a term of the Offer that Kiwi Property will take any necessary steps to ensure that the Green
Bonds are, immediately after being issued, quoted on the NZX Debt Market.
Application has been made to NZX for permission to quote the Green Bonds on the NZX Debt
Market and all the requirements of NZX relating thereto that can be complied with on or before
the distribution of this Terms Sheet have been duly complied with. However, NZX accepts no
responsibility for any statement in this Terms Sheet. NZX is a licensed market operator, and the
NZX Debt Market is a licensed market under the FMCA.
NZX Debt Market Ticker CodeKPG080.
Expected Date of Initial
Quotation and Trading on
NZX Debt Market
Tuesday, 3 November 2026.
Who may apply for Green
Bonds
There is no public pool for the Green Bonds. All of the Green Bonds (including any
oversubscriptions) will be reserved for subscription by clients of the Joint Lead Managers,
Primary Market Participants and other approved financial intermediaries invited to participate
in the Bookbuild.
Retail investors should contact a Joint Lead Manager, their financial adviser or any Primary
Market Participant for details on how they may acquire Green Bonds. You can find a Primary
Market Participant by visiting www.nzx.com/services/market-participants.
Each investor’s broker or financial adviser will be able to advise them as to what arrangements
will need to be put in place for the investor to trade the Green Bonds including obtaining a
common shareholder number (CSN), an authorisation code (FIN) and opening an account with
a Primary Market Participant, as well as the costs and timeframes for putting such
arrangements in place.
SupervisorPublic Trust.
Security TrusteeNew Zealand Permanent Trustees Limited.
RegistrarMUFG Pension & Market Services (NZ) Limited.
Arranger Craigs Investment Partners Limited.
Green Bond Co-ordinatorANZ Bank New Zealand Limited.
Joint Lead ManagersANZ Bank New Zealand Limited, Bank of New Zealand, Craigs Investment Partners Limited and
Forsyth Barr Capital Markets Limited.
Governing lawNew Zealand.

Kiwi Property6Indicative Terms Sheet
Singapore Securities and
Futures Act Product
Classification
Solely for the purposes of its obligations pursuant to sections 309B(1)(a) and 309B(1)(c) of the
Securities and Futures Act 2001 (Singapore), as modified or amended from time to time (SFA),
Kiwi Property has determined, and hereby notifies all relevant persons (as defined in Section
309A of the SFA) that the Green Bonds are “prescribed capital markets products” (as defined
in the Securities and Futures (Capital Markets Products) Regulations 2018 (Singapore)).
Selling restrictions Kiwi Property has not taken and will not take any action which would permit a public offering of
Green Bonds, or possession or distribution of any offering material in respect of the Green
Bonds, in any country or jurisdiction where action for that purpose is required (other than
New Zealand).
Part A - Initial selling restrictions
If sold in New Zealand, the Green Bonds may only be offered in New Zealand in conformity with
all applicable laws and regulations in New Zealand. In respect of the initial offer of the Green
Bonds by Kiwi Property under this Terms Sheet (Initial Offer), no Green Bonds may be offered
in any other country or jurisdiction except in conformity with all applicable laws and
regulations of that country or jurisdiction and the applicable selling restrictions set out in this
section headed “Part A - Initial selling restrictions”. This Terms Sheet and any offering material
or any documents prepared in connection with the Green Bonds may not be published,
delivered or distributed in or from any country or jurisdiction except under circumstances
which will result in compliance with all applicable laws and regulations in that country or
jurisdiction and the applicable selling restrictions set out in this section headed “Part A - Initial
selling restrictions”. For the avoidance of doubt, the selling restrictions set out in this section
headed “Part A - Initial selling restrictions” apply only in respect of the Initial Offer.
United States of America
The Green Bonds have not been and will not be registered under the Securities Act of 1933, as
amended (Securities Act) and may not be offered or sold within the United States or to, or for
the account or benefit of, U.S. persons (as defined in Regulation S under the Securities Act
(Regulation S)). No person may engage in any directed selling efforts (as defined in Regulation
S) in relation to the Green Bonds, and persons must comply with the offering restrictions in
Regulation S.
The Green Bonds will not be offered or sold within the United States or to, or for the account or
benefit of, U.S. persons (i) as part of their distribution at any time, or (ii) otherwise until 40 days
after the completion of the distribution of all Green Bonds, as determined and certified by the
Joint Lead Managers. Any Green Bonds sold to any distributor, dealer or person receiving a
selling concession, fee or other remuneration during the distribution compliance period require
a confirmation or notice to the purchaser at or prior to the confirmation of the sale to
substantially the following effect:
“The Green Bonds covered hereby have not been registered under the United States Securities
Act of 1933, as amended (the Securities Act) or with any securities regulatory authority of any
state or other jurisdiction of the United States and may not be offered or sold within the United
States, or to or for the account or benefit of, U.S. persons (i) as part of their distribution at any
time or (ii) otherwise until 40 days after the later of the commencement of the offering of the
Green Bonds and the closing date. Terms used above have the meaning given to them by
Regulation S.”
Member States of the European Economic Area
Public Offer Selling Restriction under the EU Prospectus Regulation
In relation to each Member State of the European Economic Area, no Green Bonds have been
offered and no Green Bonds will be offered that are the subject of the offering contemplated
by this Terms Sheet in relation thereto to the public in that Member State except that an offer
of Green Bonds to the public in the Member State may be made:
(a) to any legal entity which is a qualified investor as defined in the EU Prospectus Regulation;
(b) to fewer than 150 natural or legal persons (other than qualified investors as defined in the
EU Prospectus Regulation) subject to obtaining the prior consent of the relevant Joint Lead
Manager and/or Joint Lead Managers nominated by Kiwi Property for any such offer; or
(c) in any other circumstances falling within Article 1(4) of the EU Prospectus Regulation,
provided that no such offer of the Green Bonds shall require Kiwi Property or any Joint Lead
Managers to publish a prospectus pursuant to Article 3 of the EU Prospectus Regulation or
supplement a prospectus pursuant to Article 23 of the EU Prospectus Regulation.
For the purposes of this provision, the expression an “offer of the Green Bonds to the public”
in relation to any Green Bonds in any Member State means the communication in any form and
by any means of sufficient information on the terms of the offer and the Green Bonds to be
offered so as to enable an investor to decide to purchase or subscribe for the Green Bonds
and the expression “EU Prospectus Regulation” means Regulation (EU) 2017/1129.

Kiwi Property7Indicative Terms Sheet
Selling restrictions
(continued)
United Kingdom
Prohibition of Offers under the POATRs
No Green Bonds have been offered and no Green Bonds will be offered that are the subject of
this Terms Sheet in relation thereto to the public in the United Kingdom except that an offer of
Green Bonds to the public in the United Kingdom may be made:
(a) to any legal entity which is a qualified investor as defined in paragraph 15 of Schedule 1 to
the POATRs;
(b) to fewer than 150 persons (other than qualified investors as defined in paragraph 15 of
Schedule 1 to the POATRs) in the United Kingdom subject to obtaining the prior consent of
the relevant Joint Lead Manager and/or Joint Lead Managers nominated by Kiwi Property
for any such offer; or
(c) in any other circumstances falling within Part 1 of Schedule 1 to the POATRs.
For the purposes of this provision, the expression an “offer of the Green Bonds to the public”
in relation to any Green Bonds means the communication in any form and by any means of
sufficient information on the terms of the offer and the Green Bonds to be offered so as to
enable an investor to decide to buy or subscribe for the Green Bonds and the expression
“POATRs” means the Public Offers and Admissions to Trading Regulations 2024.
Other UK regulatory restrictions
No communication, invitation or inducement to engage in investment activity (within the
meaning of section 21 of the FSMA) has been or may be made or caused to be made or will be
made in connection with the issue or sale of the Green Bonds in circumstances in which
section 21(1) of the FSMA applies to Kiwi Property.
All applicable provisions of the FSMA with respect to anything done in relation to the Green
Bonds in, from or otherwise involving the United Kingdom must be complied with.
Japan
The Green Bonds have not been and will not be registered in Japan pursuant to Article 4,
Paragraph 1 of the Financial Instruments and Exchange Act of Japan (Act No. 25 of 1948, as
amended, the FIEA) in reliance upon the exemption from the registration requirements since
the offering constitutes the small number private placement as provided for in “ha” of Article 2,
Paragraph 3, Item 2 of the FIEA. A Japanese Person who transfers the Green Bonds shall not
transfer or resell the Green Bonds in Japan or to a Japanese person except where the
transferor transfers or resells all the Green Bonds en bloc to one transferee. For the purposes
of this paragraph, “Japanese Person” shall mean any person resident in Japan, including any
corporation or other entity organised under the laws of Japan. No more than 49 offerees in
aggregate may be offered Green Bonds in Japan.
Singapore
This Terms Sheet has not been registered as a prospectus with the Monetary Authority of
Singapore. Accordingly, no Green Bonds may be offered or sold or be made the subject of an
invitation for subscription or purchase, and none of this Terms Sheet or any other document or
material in connection with the offer or sale, or invitation for subscription or purchase of the
Green Bonds may be circulated or distributed, whether directly or indirectly, to any person in
Singapore other than:
(a) to an institutional investor (as defined in Section 4A of the Securities and Futures Act 2001
of Singapore (SFA) pursuant to Section 274 of the SFA); or
(b) to an accredited investor (as defined in Section 4A of the SFA) pursuant to and in
accordance with the conditions specified in Section 275 of the SFA.
Hong Kong
No Green Bonds have been offered or sold or will be or may be offered or sold in Hong Kong, by
means of any document other than (a) to “professional investors” as defined in the Securities
and Futures Ordinance (Cap. 571) of Hong Kong (the SFO) and any rules made under the SFO; or
(b) in other circumstances which do not result in the document being a “prospectus” as
defined in the Companies (Winding Up and Miscellaneous Provisions) Ordinance (Cap. 32) of
Hong Kong (the C(WUMP)O) or which do not constitute an offer to the public within the
meaning of the C(WUMP)O.
No advertisement, invitation or document relating to the Green Bonds may be issued or in the
possession of any person or will be issued or be in the possession of any person in each case
for the purpose of issue, whether in Hong Kong or elsewhere, which is directed at, or the
contents of which are likely to be accessed or read by, the public of Hong Kong (except if
permitted to do so under the securities laws of Hong Kong) other than with respect to the
Green Bonds which are or are intended to be disposed of only to persons outside Hong Kong
or only to “professional investors” as defined in the SFO and any rules made under the SFO.

Kiwi Property8Indicative Terms Sheet
Selling restrictions
(continued)
Australia
No prospectus or other disclosure document (as defined in the Corporations Act 2001 of
Australia (Corporations Act)) in relation to the Green Bonds has been, or will be, lodged with,
or registered by, the Australian Securities and Investments Commission (ASIC) or any other
regulatory authority in Australia. No person may:
(a) make or invite (directly or indirectly) an offer of the Green Bonds for issue, sale or purchase
in, to or from Australia (including an offer or invitation which is received by a person in
Australia); and
(b) distribute or publish, this Terms Sheet, any information memorandum, prospectus or any
other offering material or advertisement relating to the Green Bonds in Australia,
unless:
(i) the aggregate consideration payable by each offeree or invitee is at least A$500,000
(or its equivalent in an alternative currency and, in either case, disregarding moneys
lent by the offeror or its associates) or the offer or invitation otherwise does not require
disclosure to investors under Part 6D.2 or Chapter 7 of the Corporations Act;
(ii) the offer or invitation does not constitute an offer to a “retail client” within the meaning
of section 761G of the Corporations Act;
(iii) such action complies with all applicable laws, regulations and directives (including,
without limitation, the licensing requirements set out in Chapter 7 of the Corporations
Act); and
(iv) such action does not require any document to be lodged with ASIC or any other
regulatory authority in Australia.
By applying for the Green Bonds under the Offer, each person to whom the Green Bonds are
issued (an Investor):
(a) will be deemed by Kiwi Property and each Joint Lead Manager to have acknowledged that
if the Investor on-sells the Green Bonds within 12 months from their issue, the Investor will
be required to lodge a prospectus or other disclosure document (as defined in the
Corporations Act) with ASIC unless either:
(i) that sale is to an investor within one of the categories set out in sections 708(8) or
708(11) of the Corporations Act to whom it is lawful to offer the Green Bonds in Australia
without a prospectus or other disclosure document lodged with ASIC; or
(ii) the sale offer is received outside Australia; and
(b) will be deemed by Kiwi Property and each Joint Lead Manager to have undertaken not to
sell those Green Bonds in any circumstances other than those described in paragraphs (a)
(i) and (a)(ii) above for 12 months after the date of issue of the Green Bonds.
This Terms Sheet is not, and under no circumstances is to be construed as, an advertisement
or public offering of any Green Bonds in Australia.
Part B - General selling restrictions
The Green Bonds may only be offered for sale or sold in compliance with all applicable laws
and regulations in any country or jurisdiction in which they are offered, sold or delivered.
This Terms Sheet and any offering material or any documents prepared in connection with
the Green Bonds may only be published, delivered or distributed in or from any country or
jurisdiction under circumstances which will result in compliance with all applicable laws and
regulations in that country or jurisdiction.
By subscribing for Green Bonds, you agree to comply with the above selling restrictions and
to indemnify Kiwi Property, the Supervisor, the Arranger, the Green Bond Co-ordinator, the
Joint Lead Managers and their respective directors, officers, employees and agents for any
loss, cost, liability or expense sustained or incurred as a result of you breaching the above
selling restrictions.
Important Information
The Arranger, the Green Bond Co-ordinator, the Joint Lead Managers and their respective directors, officers, employees
and agents:
(a) have not authorised or caused the issue of, or made any statement in, any part of this Terms Sheet;
(b) do not make any representation, recommendation or warranty, express or implied, regarding the origin, validity, accuracy,
adequacy, reasonableness or completeness of, or any errors or omissions in, any information, statement or opinion contained
in this Terms Sheet; and
(c) to the extent permitted by law, do not accept any responsibility or liability for this Terms Sheet or for any loss arising from
this Terms Sheet or its contents or otherwise arising in connection with the Offer.
This Terms Sheet does not constitute financial advice or a recommendation from the Arranger, the Green Bond Co-ordinator, any
Joint Lead Manager or any of their respective directors, officers, employees, agents or advisers to purchase any Green Bonds.
You must make your own independent investigation and assessment of the financial condition and affairs of Kiwi Property before
deciding whether or not to invest in the Green Bonds.

Kiwi Property9Indicative Terms Sheet
Issuer
Kiwi Property Group Limited
Level 7, Vero Centre
48 Shortland Street
AUCKLAND 1010
Telephone: +64 9 359 4000
Email: info@kp.co.nz
Supervisor
Public Trust
SAP Tower
Level 16
151 Queen Street
AUCKLAND 1010
Telephone: 0800 371 471
Registrar
MUFG Pension & Market Services (NZ) Limited
Level 30, PwC Tower
15 Customs Street West
AUCKLAND 1010
Toll Free: 0800 377 388
Telephone: +64 9 375 5998
Email: enquiries.nz@cm.mpms.mufg.com
Security Trustee
New Zealand Permanent Trustees Limited
SAP Tower
Level 16
151 Queen Street
AUCKLAND 1010
Telephone: 0800 371 471
Green Bond Co-ordinator
ANZ Bank New Zealand Limited
Level 26, ANZ Centre
23 – 29 Albert Street
AUCKLAND 1010
Directory
Arranger
Craigs Investment Partners Limited
Level 36, Vero Centre
48 Shortland Street
AUCKLAND 1010
Joint Lead Managers
ANZ Bank New Zealand Limited
Level 26, ANZ Centre
23 – 29 Albert Street
AUCKLAND 1010
Bank of New Zealand
Level 4, 80 Queen Street
AUCKLAND 1010
Craigs Investment Partners Limited
Level 36, Vero Centre
48 Shortland Street
AUCKLAND 1010
Forsyth Barr Capital Markets Limited
Level 23, Shortland & Fort
88 Shortland Street
AUCKLAND 1010