Capital change notice - share rights plan

Kiwi Property Group Limited
Capital Change Notice
Name of issuerKiwi Property Group Limited
NZX ticker codeKPG
Class of financial productUnlisted Performance Share Rights
ISINNZKPGE001S9
CurrencyNew Zealand Dollars
Number issued/acquired/redeemed85,654 issued
Nominal value (if any)Not applicable
Issue/acquisition/redemption price per securityNo cash consideration is payable
Nature of the payment (for example, cash or other consideration)Not applicable
Amount paid up (if not in full)Not applicable
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)
See terms of the issue below.
Reason for issue/acquisition/redemption and specific authority for
issue/acquisition/redemption/ (the reason for change must be identified here)
Performance Share Rights issued
pursuant to the Kiwi Property Group
Limited Share Rights Plan
5,244,984 unlisted Performance
Share Rights.
5,244,984 Ordinary Shares if all
Performance Share Rights vest or
are exercised.
There is no treasury stock.
In the case of an acquisition of shares, whether those shares are to be held as
treasury stock
Not applicable
Specific authority for the issue, acquisition, or redemption, including a reference to
the rule pursuant to which the issue, acquisition, or redemption is made
Authorised by board resolution
dated 26 September 2025 and
listing rule 4.6.
Terms or details of the issue, acquisition, or redemption (for example: restrictions,
escrow arrangements)
The Performance Share Rights
(PSRs) have a three-year vesting
period of 1 April 2025 to 31 March
2028. Vesting of the PSRs is subject
to satisfaction of hurdles. Upon
vesting, each PSR can be converted
into one Ordinary Share in Kiwi
Property on exercise for no cash
payment. The PSRs cannot be
transferred.
Date of issue/acquisition/redemption[2]
26 September 2025
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.
Section 1: Issuer information
Section 2: Capital change details
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]
1.66% of all existing Performance
Share Rights

Name of person authorised to make this announcement
Steve Penney
Contact person for this announcementSteve Penney
Contact phone number+64 9 359 4025
Contact email addresssteve.penney@kp.co.nz
Date of release through MAP29 September 2025
[1] The percentage is to be calculated immediately before the issue, acquisition, redemption or Conversion.
[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).
Section 3: Authority for this announcement and contact person

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Kiwi Property Group Limited
Capital Change Notice
Name of issuerKiwi Property Group Limited
NZX ticker codeKPG
Class of financial productUnlisted Performance Share Rights
ISINNZKPGE001S9
CurrencyNew Zealand Dollars
Number issued/acquired/redeemed382,295 redeemed
Nominal value (if any)Not applicable
Issue/acquisition/redemption price per securityNo cash consideration is payable
Nature of the payment (for example, cash or other consideration)Not applicable
Amount paid up (if not in full)Not applicable
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)
Not applicable
Reason for issue/acquisition/redemption and specific authority for
issue/acquisition/redemption/ (the reason for change must be identified here)
Lapsed Performance Share Rights
redeemed pursuant to the Kiwi Property
Group Limited Share Rights Plan.
5,159,330 unlisted Performance Share
Rights.
5,159,330 Ordinary Shares if all
Performance Share Rights vest or are
exercised.
There is no treasury stock.
In the case of an acquisition of shares, whether those shares are to be held as
treasury stock
Not applicable
Specific authority for the issue, acquisition, or redemption, including a reference to
the rule pursuant to which the issue, acquisition, or redemption is made
Authorised by board resolutions dated 19
May 2023, 24 May 2024 and 23 May 2025
and listing rule 4.6
Terms or details of the issue, acquisition, or redemption (for example: restrictions,
escrow arrangements)
Performance Share Rights which lapsed
because the relevant participants ceased to
meet the criteria set out in the Kiwi Property
Group Limited Share Rights Plan.
Date of issue/acquisition/redemption[2]26 September 2025
Name of person authorised to make this announcementSteve Penney
Contact person for this announcementSteve Penney
Contact phone number+64 9 359 4025
Contact email addresssteve.penney@kp.co.nz
Date of release through MAP29 September 2025
[1] The percentage is to be calculated immediately before the issue, acquisition, redemption or Conversion.
[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).
Section 3: Authority for this announcement and contact person
Section 1: Issuer information
Section 2: Capital change details
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]
6.90% of all existing Performance Share
Rights
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.