Capital Change Notice

Capital Change Notice

Updated as at February 2025



Section 1: Issuer information
Name of issuer Black Pearl Group Limited
NZX ticker code BPG
Class of financial product Ordinary Shares
ISIN (If unknown, check on NZX website) NZBPGE0004S2
Currency NZD
Section 2: Capital change details
Number issued/acquired/redeemed 71,428 ordinary shares (Shares)
Nominal value (if any) N/A
Issue/acquisition/redemption price per security $0.42
Nature of the payment (for example, cash or other
consideration)
The Shares have been issued fully paid
upon the conversion of restricted shares in
BPG (Restricted Shares) to Hugo Fisher
(Director of BPG) in consideration for his
specific period of service provided in
accordance with his individual director
appointment letter.
Amount paid up (if not in full) 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

0.11%
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)
Issued upon the conversion of Restricted
Shares in accordance with the terms of
Hugo Fisher’s individual director
appointment letter.
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.
64,722,312
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
Rule 4.9.1(b) and Board resolution per
section 47 of the Companies Act 1993.
Terms or details of the issue, acquisition, or
redemption (for example: restrictions, escrow
arrangements)
Issued in accordance with Hugo Fisher’s
individual director appointment letter.
Date of issue/acquisition/redemption
2
18/07/2025
Section 4: Authority for this announcement and contact person
Name of person

authorised to make this
announcement
Karen Cargill
Contact person for this announcement Karen Cargill
Contact phone number +64 21 135 5183
Contact email address karen.cargill@blackpearlmail.com
Date of release through MAP

18/07/2025




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).