South Port NZ Ltd - Capital Change Notice

Capital Change Notice


Notice of issue of ordinary shares under the South Port New Zealand Limited Performance Share
Rights Plan

This notice is given under NZX Listing Rules 3.13.1 and 3.15.2 and relates to the vesting and conversion
of Performance Share Rights granted on 1 November 2023 under the South Port New Zealand Limited
Performance Share Rights Plan (Plan), pursuant to which Participants were granted Performance Share
Rights entitling them to receive fully paid ordinary shares in South Port New Zealand Limited (SPNZ) subject
to satisfaction of certain vesting conditions.

Following the Board's determination of the applicable vesting conditions on 28 October 2026:

(a) 28,250 Performance Share Rights have vested and converted into 28,250 fully paid ordinary
shares in SPNZ; and
(b) 2,678 Performance Share Rights did not vest and have lapsed.
There are no further Performance Share Rights from the 2023 grant remaining to vest or convert.

Section 1: Issuer information
Name of issuer South Port New Zealand Limited (SPNZ)
NZX ticker code SPN
Class of financial product Ordinary shares in SPNZ (Shares)
ISIN (If unknown, check on NZX website) NZSPNE0001S8
Currency NZ$
Section 2: Capital change details
Number issued/acquired/redeemed 28,250
Nominal value (if any) N/A
Issue/acquisition/redemption price per security Nil
Nature of the payment (for example, cash or other
consideration)
No consideration is payable for the issue
of the Shares.
Amount paid up (if not in full) N/A - the Shares are fully paid.
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)
1

28,250 Shares is approximately 0.1077%
of the ordinary shares on issue in SPNZ.
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)
N/A


1
The percentage is to be calculated immediately before the issue, acquisition, redemption or Conversion.

Reason for issue/acquisition/redemption and
specific authority for issue/acquisition/redemption/
(the reason for change must be identified here)
Shares issued on conversion of vested
Performance Share Rights granted under
the Plan on 1 November 2023.
Total number of Financial Products of the Class
after the issue/acquisition/redemption/Conversion
(excluding Treasury Stock) and the total number of
Financial Products of the Class held as Treasury
Stock after the issue/acquisition/redemption.
26,263,148 ordinary shares

Nil ordinary shares held as Treasury
Stock.
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
Board resolutions dated 19 October 2023
and 28 October 2026.
NZX Listing Rule 4.9.1(b), the
Performance Rights having been issued
under NZX Listing Rule 4.6.1.
Terms or details of the issue, acquisition, or
redemption (for example: restrictions, escrow
arrangements)
The Shares issued are quoted ordinary
shares ranking equally with SPNZ's
existing ordinary shares.
Date of issue/acquisition/redemption
2
29 October 2026
Section 3: Authority for this announcement and contact person
Name of person

authorised to make this
announcement
Derek Nind (Chief Executive Officer)
Contact person for this announcement Helen Young
Contact phone number +64 3 212 7827
Contact email address hyoung@southport.co.nz
Date of release through MAP

29 October 2026
Listing Rule 3.15.2 – Performance Share Rights granted on 1 November 2023

The following information is provided for the purposes of NZX Listing Rule 3.15.2:

(a) Financial Products converted
28,250 Performance Share Rights granted to Participants under the South Port New Zealand
Limited Performance Share Rights Plan on 1 November 2023 have vested and converted into
28,250 fully paid ordinary shares in SPNZ on a one-for-one basis.
(b) Interest or dividend conditions attaching to the Shares
There are no special interest or dividend conditions attaching to the Shares. The Shares rank
equally in all respects with existing ordinary shares in SPNZ, except in respect of any dividend or
other entitlement for which the record date occurred before the date the Shares were issued.
(c) Financial Products of the same Class remaining to be converted
Following the conversion and lapse referred to above, 109,072 Performance Share Rights remain
on issue and capable of conversion into ordinary shares in SPNZ.

2
Continuous issuers using this form in reliance on Rule 3.13.2, please indicate the period during which the relevant
issue/acquisition/redemptions were made (for example, 1 January 2019 to 31 January 2019).