SPH Notice - Accident Compensation Corporation (ACC)

Disclosure of ceasing to have substantial holding
Section 279, Financial Markets Conduct Act 2013
To New Zealand Stock Exchange
and
To Scales Corp Ltd
Date this disclosure made: 19 December 2025
Date last disclosure made: 13 August 2025
Date on which substantial holding ceased: 18 December 2025
Substantial product holder(s) giving disclosure
Full Name(s): Accident Compensation Corporation (ACC)
Summary of previous substantial holding
Class of quoted voting products: Ordinary shares (SCL NZ)
Summary for: Accident Compensation Corporation (ACC)
For last disclosure:
(a) Total number held in class: 7,349,849
(b) Total in class: 144,033,226
(c) Total percentage held in class: 5.103%
For current holding after ceasing to have substantial holding:
(a) Total number held in class: 7,052,514
(b) Total in class: 145,018,818
(c) Total percentage held in class: 4.863%
Details of transactions and events giving rise to ceasing of substantial holding
Details of the transactions or other events requiring disclosure:

From 13 August 2025 to 18 December 2025, ACC had the following aggregated on-market
transactions in Scales Corp Ltd:
• Sales of 646,837 shares for consideration of NZD $3,761,481.33
• Purchases of 349,502 shares for consideration of NZD $1,809,077.83

Additional information
Address(es) of substantial product holder(s):
ACC: Justice Centre, 19 Aitken Street, PO Box 242, Wellington 6140.
Contact details: Matthew Cunliffe +64 4 816 5743 investmentscompliance@acc.co.nz
In accordance with the Financial Markets Authority’s Guidance Note: Guidance on Substantial
Product Holder Disclosures issued on 27 September 2017, ACC has not made disclosures for
employees who manage the financial products of which ACC is the beneficial owner.
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 securities to which
this disclosure relates: n/a
Certification
I, Matthew Cunliffe, 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.