Precinct Completes Share Consolidation

Capital Change Notice

Updated as at February 2025


Section 1: Issuer information
Name of issuer Precinct Properties Group
NZX ticker code PCT
Class of financial product A stapled security comprising one ordinary
share in Precinct Properties New Zealand
Limited and one ordinary share in Precinct
Properties Investments Limited, stapled so
that they may only be dealt with as a
single equity security
ISIN (If unknown, check on NZX website) NZAPTE0001S3
Currency NZD
Section 2: Capital change details
Number issued/acquired/redeemed 109,067,808
Nominal value (if any) N/A
Issue/acquisition/redemption price per security N/A
Nature of the payment (for example, cash or other
consideration)
N/A
Amount paid up (if not in full) N/A
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

5.9%
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/acquisition/redemption and
specific authority for issue/acquisition/redemption/
(the reason for change must be identified here)
Share consolidation where every 17
stapled shares were consolidated into 16
stapled shares as approved by board
resolution and announced on 30 October
2026
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.
1,745,086,848

Nil treasury stock.
In the case of an acquisition of shares, whether
those shares are to be held as treasury stock
N/A

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

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 resolution
Terms or details of the issue, acquisition, or
redemption (for example: restrictions, escrow
arrangements)
N/A
Date of issue/acquisition/redemption
2
9/11/2026
Section 3: Authority for this announcement and contact person
Name of person

authorised to make this
announcement
Richard Hilder
Contact person for this announcement Martin Boys
Contact phone number +64 22 1941 263
Contact email address martin.boys@precinct.co.nz
Date of release through MAP

9/11/2026




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).

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Precinct Properties New Zealand Limited
hello@precinct.co.nz
0800 400 599
precinct.co.nz
Auckland Office
Level 12, 188 Quay Street, Auckland 1010
PO Box 5140, Auckland 1141, New Zealand
Wellington Office
Level 3, 31 Waring Taylor Street
PO Box 2, Wellington 6140, New Zealand
NZX announcement – 9 November 2026

Precinct Completes Share Consolidation

Further to the announcement on 30 October 2026, Precinct Properties Group (Precinct)
(NZX: PCT) advises that the consolidation of every 17 stapled shares held at 5.00pm NZDT
on 6 November 2026 into 16 stapled shares has now been completed.

The total number of stapled shares on issue following the consolidation is 1,745,086,848 as
set out in the attached capital change notice.

Precinct’s share registry, Computershare, will be sending out holding statements to
shareholders on Tuesday, 10 November 2026 confirming their new shareholdings.

Precinct’s stapled shares will commence trading on NZX on a post-consolidation basis
today.

ENDS

For further information, please contact:

Scott Pritchard
Chief Executive Officer
Mobile: +64 21 431 581
Email: scott.pritchard@precinct.co.nz

George Crawford
Deputy Chief Executive Officer
Mobile: +64 21 384 014
Email: george.crawford@precinct.co.nz

Richard Hilder
Chief Financial Officer
Mobile: +64 29 969 4770
Email: richard.hilder@precinct.co.nz

Precinct Properties New Zealand Limited
hello@precinct.co.nz
0800 400 599
precinct.co.nz
Auckland Office
Level 12, 188 Quay Street, Auckland 1010
PO Box 5140, Auckland 1141, New Zealand
Wellington Office
Level 3, 31 Waring Taylor Street
PO Box 2, Wellington 6140, New Zealand
About Precinct

Listed on the NZX Main Board under the ticker code PCT and ranked in the NZX top 30, Precinct is the largest
owner, manager, developer and investment partner of premium city-centre real estate in Auckland and
Wellington. Precinct’s markets span office, retail, flexible workspace and living, which includes purpose-built
student accommodation and high-end, multi-unit residential development.

As at 30 June 2026 on a pro forma basis following completion of the PwC Tower transaction, Precinct's directly-
held portfolio totals $3.0 billion and Precinct has a further $2.2 billion of committed capital partnering assets
under management; Precinct is co-invested in $2.0 billion of these assets, with the balance being managed
on behalf of third-party partners (all amounts presented on a committed, completion value basis).

Shareholders in Precinct hold an equal number of shares in Precinct Properties New Zealand Limited and
Precinct Properties Investments Limited and these shares can only be dealt with together. The stapled issuers
are described as “Precinct Properties NZ & Precinct Properties Investments Ltd” on NZX systems and the ticker
code for the stapled securities is PCT.

For more information visit: www.precinct.co.nz.