Settlement of Navaa Holdings Investment Stage 1

3 November 2026

Settlement of Stage One of the strategic investment by Navaa Holdings in WasteCo
Further to the announcement made by WasteCo Group Limited (NZX: WCO) on Thursday 29 October
2026, WasteCo is pleased to advise that it has today:
• Completed the issue of 287,714,754 new shares in WasteCo to Navaa Holdings Pte Limited
(Navaa Holdings) at an issue price of $0.007 per share for $2,014,003 in aggregate; and
• Drawn down upon an unsecured term loan of $985,997 from Navaa Holdings.
In total Navaa Holdings has made an initial investment of $3 million into WasteCo to date.
Under the terms of the subscription agreement, Navaa Holdings has a right to appoint a person as an
additional director of WasteCo.
Subsequent Subscription
In addition to the initial investment, Navaa Holdings has also conditionally agreed to subscribe for
867,761,547 further shares at $0.007 per share for a further equity investment of $6,074,330.83 on 3 May
2027 (Subsequent Subscription), subject to:
• WasteCo shareholder approval under rule 7(d) of the Takeovers Code and the NZX Listing Rules);
and
• Navaa Holdings’ completion of due diligence of WasteCo to its satisfaction by 15 February 2027,
so as to result in a total shareholding of 50.01% of WasteCo, and with rights to subscribe for further
shares to avoid dilution/maintain that shareholding. The other terms of the subsequent subscription
agreement are detailed in the announcement of 29 October 2026.
About Navaa Holdings
Navaa Holdings Pte Limited (UEN 202229901C) is a company incorporated under the laws of Singapore
and having its registered office located at 16 Jalan Kilang, #02-01, HOI HUP Building, Singapore 159416.
Navaa Holdings Pte Limited is a part of the Ramky Group and is a wholly owned subsidiary of Renvion
Solutions Private Limited which has international expertise in the waste and industrial services sector.
WasteCo Chair Sean Joyce says:
Successful completion of the first stage of Navaa Holdings’ investment into WasteCo represents
satisfaction of another meaningful milestone in the WasteCo turnaround plan. We are grateful for
the financial and strategic support of Navaa Holdings and the confidence that they have shown in
our business. We look forward to developing our partnership with Navaa Holdings in the future.”
For more information please contact:
Sean Joyce
Chair
WasteCo Group Limited

M: +64 21 865 704
E: sean@corporate-counsel.co.nz

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Capital Change Notice

Updated as at February 2025
100754305/3501-7029-8706.1

Please do not amend or delete individual rows. As this template relates to prescribed content, changes to content
should only be made where it is clearly indicated that this is permitted, otherwise, if an Issuer considers a particular
element does not apply, mark the row as N/A. Any other changes to this prescribed form must first be approved by
NZX as required under NZX Listing Rule 3.26.1.

Section 1: Issuer information
Name of issuer WasteCo Group Limited
NZX ticker code WCO
Class of financial product Ordinary shares
ISIN (If unknown, check on NZX website) NZSNKE0001S9
Currency NZD
Section 2: Capital change details
Number issued 287,714,754
Nominal value (if any) N/A
Issue price per security $0.007 (average)
Nature of the payment (for example, cash or other
consideration)
Cash
Amount paid up (if not in full) Fully paid up
Percentage of total class of Financial Products
issued (calculated on the number of Financial
Products of the Class, excluding any Treasury
Stock, in existence)
24.999%
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
Reason for issue and specific authority for issue
(the reason for change must be identified here)
To provide further funding as described in
announcement dated 29 October 2026.
Total number of Financial Products of the Class
after the issue (excluding Treasury Stock) and the
total number of Financial Products of the Class
held as Treasury Stock after the issue.
1,438,578,375

NIL 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
Shareholder approval under listing rule
4.2.1 obtained at Annual Meeting on
22 September 2026 and part placement
under listing rule 4.5.1 (15% rule).
Terms or details of the issue, acquisition, or
redemption (for example: restrictions, escrow
arrangements)
N/A
Date of issue 3/11/2026

Section 3: Disclosure required for Placements made under Rule 4.5.1
[Issuers may opt to release Section 3 information (if not already done so) in a separate announcement within five Business Days of
the issuance. Delete this Section 3 if capital change is not the result of a Placement under Rule 4.5.1]

Details of the approach in identifying investors who
were able to participate in the offer and how their
respective allocations in the offer were determined.

The explanation must set out the key objectives
and criteria the Issuer adopted in the allocation
process, whether one of those objectives was a
best effort to allocate on a pro rata basis to existing
holders of the Issuer’s Equity Securities, and any
significant exceptions or deviations from those
objectives and criteria.
Targeted placement to strategic investor
as described in announcement dated
29 October 2026 following on from an
offer process initiated on 2 September
2026, and as to part completed under
shareholder approval authority.
Section 4: Authority for this announcement and contact person
Name of person

authorised to make this
announcement
Sean Joyce
Contact person for this announcement Sean Joyce, Chair
Contact phone number 021 865 704
Contact email address sean@corporate-counsel.co.nz
Date of release through MAP

3/11/2026