SPH Notice - Douglas Irrevocable Descendants Trust

1
Disclosure of movement of 1% or more in substantial holding or change in nature of relevant
interest, or both
Section 277 and 278, Financial Markets Conduct Act 2013
To: NZX Limited
and
To: South Port New Zealand Limited

Relevant event being disclosed: Movement of 1% or more in substantial holding
Date of relevant event: 4 November 2026
Date of this disclosure: 6 November 2026
Date last disclosure made: 24 December 2009*
Substantial product holder(s) giving
disclosure:

Full name(s): Douglas Irrevocable Descendants Trust
Douglas Family Trust
K&M Douglas Trust
Douglas Irrevocable Trust for the benefit of Jake Douglas
Douglas Irrevocable Trust for the benefit of Summer Douglas
Douglas Irrevocable Trust for the benefit of Amanda Douglas
Douglas Irrevocable Trust for the benefit of Alexander Douglas
Summary of substantial holding
Class of quoted voting products: Ordinary Shares

For this disclosure,—
(a) total number held in class: 2,256,663
(b) total in class: 26,263,148
(c) total percentage held in class:

8.59%
For last disclosure,—
(a) total number held in class: 2,044,663
(b) total in class: 26234,898
(c) total percentage held in class: 7.8%*

* Subsequent to the disclosure dated 24 December 2009, there were transactions which reduced the
total number held in class to 1,706,663, being 6.51% of the class (as noted in the 2023 annual report
for the company). This notice is being filed on the basis that immediately before the transactions
giving rise to this disclosure, that was the number of shares held and, as such, the transactions giving
rise to this disclosure constitute a movement of 1% or more in the substantial holding.

2

Details of transactions and events giving rise to relevant event
Date of
event
Nature of
event
Consideration Number of
financial
products
Current
registered
holder(s)
Registered
holder(s) once
transfers are
registered
3 and 4
November
2026
On-market
purchases
$4,427,803.20 550,000 Unknown
Forsyth Barr
Custodians Limited

Details after relevant event
Details for Douglas Irrevocable Descendants Trust, Douglas Family Trust, K&M Douglas Trust,
Douglas Irrevocable Trust for the benefit of Jake Douglas, Douglas Irrevocable Trust for the benefit
of Summer Douglas, Douglas Irrevocable Trust for the benefit of Amanda Douglas, Douglas
Irrevocable Trust for the benefit of Alexander Douglas
Nature of relevant interest(s):

Beneficial owners
For that relevant interest,—
(a) number held in class: 2,256,663
(b) percentage held in class: 8.59%
(c) current registered holder(s): See above
(d) registered holder(s) once transfers are
registered:
See above
For a derivative relevant interest, also—
(a) type of derivative: Not applicable
(b) details of derivative: Not applicable
(c) parties to the derivative: Not applicable
(d) if the substantial product holder is not a
party to the derivative, the nature of the
relevant interest in the derivative:
Not applicable

Additional Information

Address(es) of substantial product holder(s): c/o – Douglas Telecommunications, Inc.
300 A Drakes Landing Road
Suite 200
Greenbrae 94904
UNITED STATES OF AMERICA

3
Contact details: David Price
T: +64 4 495 1323
E: david.price@forsythbarr.co.nz

Nature of connection between substantial
product holders:
Related trusts
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

Certification
I, David Graeme Price, 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.