SPH Notice - Accident Compensation Corporation (ACC)

Disclosure of movement of 1% or more in substantial holding or change in
nature of relevant interest or both
Sections 277 and 278, Financial Markets Conduct Act 2013
To New Zealand Stock Exchange
and
To Argosy Property Ltd
Relevant event being disclosed: Movement of 1% or more
Date of relevant event: 30 January 2026
Date this disclosure made: 2 February 2026
Date last disclosure made: 30 October 2023
Substantial product holder(s) giving disclosure
Full Name(s): Accident Compensation Corporation (ACC)
Summary of substantial holding
Class of quoted voting products: Ordinary shares (ARG NZ)
Summary for: Accident Compensation Corporation (ACC)
For this disclosure,—
(a) Total number held in class: 71,683,876
(b) Total in class: 868,909,150
(c) Total percentage held in class: 8.250%
For last disclosure,—
(a) Total number held in class: 78,916,213
(b) Total in class: 847,168,744
(c) Total percentage held in class: 9.315%
Details of transactions and events giving rise to relevant event
Details of the transactions or other events requiring disclosure:
From 30 October 2023 to 30 January 2026, ACC had the following aggregated on-market
transactions in Argosy Property Ltd:
• Sales of 28,933,855 shares for consideration of NZD $33,138,379.14
• Purchases of 16,400,997 shares for consideration of NZD $17,856,664.93

From 30 October 2023 to 30 January 2026, ACC had the following off-market transactions in
Argosy Property Ltd:
Trade Date Transaction Ticker Shares Currency Price Consideration Other Party
2024-12-18 DRP ARG NZ 267,789 NZD 1.0291 275,581.92 N/A
2024-12-19 DRP ARG NZ 784,743 NZD 1.0291 807,578.34 N/A
2025-03-26 DRP ARG NZ 216,530 NZD 0.9733 210,749.06 N/A
2025-03-26 DRP ARG NZ 287,716 NZD 0.9733 280,033.91 N/A
2025-03-26 DRP ARG NZ 860,341 NZD 0.9733 837,369.61 N/A
2025-06-25 DRP ARG NZ 228,099 NZD 1.0396 237,131.54 N/A
2025-06-25 DRP ARG NZ 766,125 NZD 1.0396 796,463.73 N/A

2025-09-24 DRP ARG NZ 203,235 NZD 1.2024 244,370.04 N/A
2025-09-24 DRP ARG NZ 236,874 AUD 1.2024 284,817.19 N/A
2025-09-24 DRP ARG NZ 653,230 AUD 1.2024 785,443.73 N/A
2025-12-17 DRP ARG NZ 195,110 NZD 1.2193 237,896.83 N/A
2025-12-17 DRP ARG NZ 600,729 NZD 1.2193 732,469.10 N/A

Details after relevant event
Details for ACC
Nature of relevant interest(s):
Beneficial owner of securities under §235(1)(b) of the Financial Markets Conduct Act
No relevant agreement document needs to be attached under regulation 139.
For that relevant interest,—
(a) Number held in class: 71,683,876
(b) Percentage held in class: 8.250%
(c) Current registered holder(s): ACC via New Zealand Central Securities Depository Limited
(NZCSD)
(d) Registered holder(s) once transfers are registered: unknown

For a derivative relevant interest, also—
(a) type of derivative: n/a
(b) details of derivative: n/a
(c) parties to the derivative: n/a
(d) if the substantial product holder is not a party to the derivative, the nature of the relevant
interest in the derivative: n/a
Additional information
Address of substantial product holder(s):
ACC: Justice Centre, 19 Aitken Street, PO Box 242, Wellington, NZ
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 financial products 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.