Grant of Performance Rights for FY24

My Food Bag Group Limited
My Food Bag Group Limited
NZCN 6113607
ARBN 646 807 301
3 July 2023
NZX Code: MFB
MY FOOD BAG – GRANT OF PERFORMANCE RIGHTS FOR FY24
6,922,230 Performance Rights have been issued to eligible senior employees of My Food Bag under
the company's long term incentive plan. A Capital Change Notice reflecting this grant accompanies
this announcement. As set out in the notice, there are now 7,987,834 Performance Rights on issue
under this LTI (after taking into account those Performance Rights that have lapsed due participants
failing to satisfy the vesting conditions – for example, as employees have left the business).
As noted in the Annual Report, My Food Bag's separate employee share ownership scheme has been
suspended for FY24. There are currently 331,436 Performance Rights on issue under this scheme.
Authorised by:
Leanne Dekker
Chief Financial Officer
Ends
For investor or analyst queries, please contact:
Leanne Dekker
+64 9 886 9840
ir@myfoodbag.co.nz

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Notice of issue of Performance Rights under the My Food Bag's Long Term Incentive Plan
This notice is given under NZX Listing Rule 3.13.1 and relates to the issue of Performance Rights to
certain senior employees under My Food Bag's long term incentive plan. If the Performance Rights vest
(based on certain vesting conditions, including the achievement of a performance hurdle(s)) the holder
may exercise an option to acquire ordinary shares in My Food Bag.
Section 1: Issuer information
Name of issuer My Food Bag Group Limited
NZX ticker code MFB
Class of financial product Performance Rights, each
representing an entitlement
(upon vesting and exercise) to
acquire an ordinary share in My
Food Bag Group Limited
ISIN (If unknown, check on NZX website) N/A (the ISIN of MFB's ordinary
shares is NZMFBE0004S1)
Currency N/A
Section 2: Capital change details
Number issued/acquired/redeemed 6,922,230 Performance Rights
Nominal value (if any) N/A
Issue/acquisition/redemption price per security Nil – Performance Rights are
issued under the plan for no
consideration
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
649.6% of Performance Rights on
issue (as a percentage of the
Performance Rights in existence
immediately prior to the issue,
but after cancellation of those
Performance Rights issued which
have previously lapsed).
If these Performance Rights vest
and are exercised, this would
equate to 2.9% of the ordinary
shares of My Food Bag Group
Limited currently on issue.
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
Issue of Performance Rights
pursuant to My Food Bag's long-
term incentive plan. The
1
The percentage is to be calculated immediately before the issue, acquisition, redemption or Conversion.

to other Classes of Financial Product) or the Option (for example,
the exercise price and exercise date)
Performance Rights give the
holder the right to acquire
ordinary shares in My Food Bag
Group Limited, which may be
exercised if the Performance
Rights vest.
For participating senior
employees other than the CEO,
50% of the Performance Rights
are subject to retention, with the
holder required to remain an
employee of My Food Bag for the
duration of a 24 month vesting
period. The other 50% of the
Performance Rights require this
retention condition to be
satisfied, as well as My Food Bag
to achieve a defined
performance hurdle in respect of
its total return to shareholders
over a two year performance
period relative to other
companies in the NZX50.
All of the 1,344,051 Performance
Rights issued to the CEO have this
TSR performance hurdle element
(in addition to retention).
There is no amount payable by
the holder either on the grant of
the Performance Rights or in
relation to the issue of ordinary
shares if those Performance
Rights vest and are exercised.
Reason for issue/acquisition/redemption and specific authority for
issue/acquisition/redemption/ (the reason for change must be
identified here)
Issue of Performance Rights
pursuant to My Food Bag's long
term incentive plan.
Board resolutions dated 16 June
2023 and permitted by NZX
Listing Rule 4.6.1.
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.
7,987,834 Performance Rights.
This does not include those
Performance Rights issued but
which have previously lapsed due
to a failure to satisfy the vesting
conditions.
There is no 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 16 June
2023 and permitted by NZX
Listing Rule 4.6.1.
Terms or details of the issue, acquisition, or redemption (for
example: restrictions, escrow arrangements)
As above. Any ordinary share
issued on the vesting and
exercise of the Performance
Rights will be credited as fully
paid up and rank equally in all
respects with the other ordinary
shares of My Food Bag Group
Limited.
Date of issue/acquisition/redemption 3 July 2023
Section 3: Authority for this announcement and contact person
Name of personauthorised to make this announcement
Leanne Dekker, Chief Financial Officer
Contact person for this announcement
Leanne Dekker, Chief Financial Officer
Contact phone number
+64 9 886 9840
Contact email address ir@myfoodbag.co.nz
Date of release through MAP3 July 2023