Issue of Performance Rights

Capital Change Notice



Section 1: Issuer information
Name of issuer NZME Limited
NZX ticker code NZM
Class of financial product
Unquoted performance share rights
(PSRs), convertible to NZME Limited
ordinary shares pursuant to NZME’s
Total Incentive Plan 2025 Short Term
Incentive component (the 2025 STI
Grant).
ISIN (If unknown, check on NZX website) Not applicable
Currency NZD
Section 2: Capital change details
Number issued 234,975
Nominal value (if any) Nil
Issue price per security Nil
Nature of the payment (for example, cash or other
consideration)
No consideration is payable for the
PSRs
Amount paid up (if not in full) Not applicable
Percentage of total class of Financial Products issued
(calculated on the number of Financial Products of the
Class, excluding any Treasury Stock, in existence)
The PSRs for the 2025 STI Grant
comprise 100% of the financial
products of that class.
NZME has other PSRs of a different
class on issue from previous grants
under its Total Incentive Plan.
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)
Each PSR is issued pursuant to the
terms and conditions of the 2025 STI
Grant.
The issue of PSRs was subject to the
satisfaction of financial and non-
financial performance conditions set
for each role at the beginning of each
performance period.
Upon becoming exercisable, each
PSR will entitle the holder to one
ordinary share in the Company. The
PSRs have a set exercise price of
$0.00.


Reason for issue and specific authority for issue (the
reason for change must be identified here)
Issue of PSRs pursuant to the
Company’s Total Incentive Plan 2025
STI Grant.

Directors’ resolution dated 23
February 2026
Total number of Financial Products of the Class after
the issue (excluding Treasury Stock) and the total
number of Financial Products of the Class held as
Treasury Stock after the issue.
234,975 PSRs.
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, including a reference to
the rule pursuant to which the issue is made.
Resolution of Directors dated 23
February 2026 pursuant to NZX
Listing Rule 4.6.1.
Terms or details of the issue (for example: restrictions,
escrow arrangements)
Subject to the rules of the 2025 STI
Grant, the PSRs will be exercised on
4 January 2027.
On becoming exercisable, each PSR
entitles the holder to one fully paid
ordinary NZME share subject to
adjustment in accordance with the
plan rules, ranking equally with all
other NZME ordinary shares.
The PSRs have a set exercise price
of $0.00.
PSRs do not entitle the holder to
receive dividends or other
distributions, or vote in respect of
NZME’s ordinary shares.
Date of issue 24 February 2026
Section 3: Authority for this announcement and contact person
Name of person authorised to make this announcement Genevieve O’Halloran
Contact person for this announcement Genevieve O’Halloran
Contact phone number 027 4063 467
Contact email address genevieve.ohalloran@nzme.co.nz
Date of release through MAP 24 February 2026