Change to Executive Team

Kiwi Property today announces the resignation of Chief Financial Officer Steve Penney,
from the company’s executive team.

Clive Mackenzie, Kiwi Property’s CEO, commented “I would sincerely like to thank Steve
for his contributions to the company over nearly five years, including three years as
Chief Financial Officer. Steve has been instrumental in the strategic and operational
transformation of the business. Steve’s commitment to fostering a culture of high
performance has driven improvements in our business, and I wish him the very best for
the future.”

Steve will remain with the company until early 2026, and Kiwi Property will provide the
market with a further update on this role in the coming months.

ENDS

For further information:
Fraser Gunn
Head of Corporate Finance and Investor Relations
fraser.gunn@kp.co.nz
+64 21 973 534


About us:
Kiwi Property (NZX: KPG) is one of the largest listed property companies on the New
Zealand Stock Exchange and is a member of the S&P/NZX 20 Index. We have been
around for over 30 years and proudly own and manage a significant real estate portfolio
comprising some of New Zealand’s best mixed-use, retail and office buildings. Our
objective is to provide investors with a reliable investment in New Zealand property
through the ownership and active management of a diversified, high-quality portfolio.
Kiwi Property is licensed under the Real Estate Agents Act 2008. To find out more, visit our
website, kp.co.nz

NZX RELEASE
11 December 2025

Change to Executive Team