Disclosure of Ceasing to have Substantial Holding

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Disclosure of ceasing to have substantial holding
Section 279, Financial Markets Conduct Act 2013

To NZX Limited
and
To EROAD Limited

Date this disclosure made: 15 August 2025
Date last disclosure made: 19 June 2025
Date on which substantial holding ceased: 13 August 2025

Substantial product holder(s) giving disclosure
Full name(s): Steven Newman and NMC Trustees Limited as trustee of the NMC
Investment Trust

Summary of previous substantial holding
Class of quoted voting products: Ordinary shares in EROAD Limited (NZX Code: ERD)
(“EROAD”)

Summary for Steven Newman

For last disclosure, —
(a) total number held in class: 10,020,952
(b) total in class: 187,410,632
(c) total percentage held in class: 5.347%

For current holding after ceasing to have substantial holding,—
(a) total number held in class: 8,020,952
(b) total in class: 184,469,855
(c) total percentage held in class: 4.279%

Summary for NMC Trustees Limited as trustee of the NMC Investment Trust

For this disclosure, —
(a) total number held in class: 7,853,024
(b) total in class: 187,469,855
(c) total percentage held in class: 4.189%

For last disclosure, —
(a) total number held in class: 9,853,024
(b) total in class: 187,410,632

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(c) total percentage held in class: 5.257%

Details of transactions and events giving rise to ceasing of substantial holding
On August 13, 2025, NMC Trustees Limited as trustee of the NMC Investment Trust sold a
total of 2,000,000 ordinary shares in EROAD via on-market trades for total consideration
received of A$3,800,000 (being approximately NZ$4,169,000).

Details after relevant event
Details for Steven Newman
Nature of relevant interest(s): Steven Newman as registered holder and beneficial owner
of ordinary shares in EROAD.

For that relevant interest, —
(a) number held in class: 167,928
(b) percentage held in class: 0.090%
(c) current registered holder(s): Steven Newman
(d) registered holder(s) once transfers are registered: N/A

Nature of relevant interest(s): Steven Newman is the holder of 20% or more of the shares
in NMC Trustees Limited and has the power to control dealings and voting of ordinary
shares in EROAD held by NMC Trustees Limited as trustee of the NMC Investment Trust.
For that relevant interest, —
(a) number held in class: 7,853,024
(b) percentage held in class: 4.189%
(c) current registered holder(s): NMC Trustees Limited
(d) registered holder(s) once transfers are registered: Unknown

Details for NMC Trustees Limited as trustee of the NMC Investment Trust
Nature of relevant interest(s): NMC Trustees Limited is the registered holder of ordinary
shares in EROAD.

For that relevant interest, —
(a) number held in class: 7,853,024
(b) percentage held in class: 4.189%
(c) current registered holder(s): NMC Trustees Limited
(d) registered holder(s) once transfers are registered: Unknown

Additional information
Address(es) of substantial product holder(s):
91 Taylor Road, Waimauku, 0882, Auckland, New Zealand

Contact details:
Steven Newman Phone: +64 21 424 493 Email: steven.newman@orbtek.org

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Nature of connection between substantial product holders: Steven Newman is the holder of
20% or more of the shares in NMC Trustees Limited and has the power to control dealings
and voting of shares held by NMC Trustees Limited as trustee of the NMC Investment
Trust.
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: N/A
Certification
I, Steven Newman, 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.