Arvida Group Limited — Share Issue/Capital Change 2021

Feb 21, 2021

Capital Change Notice

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Section 1: Issuer information
Name of issuer	Arvida Group Limited (”Arvida”)
NZX ticker code	ARV010
Class of financial product	Secured, unsubordinated fixed rate bonds(“Bonds”)
ISIN	NZARVDT001C7
Currency	New Zealand Dollars ($)
Section 2: Capital change details
Number issued	125,000,000
Nominal value (if any)	$1.00
Issue price per security	$1.00
Nature of the payment (for example, cash orother consideration)	Cash
Amount paid up (if not in full)	Fully paid up
Percentage of total class of Financial Productsissued (calculated on the number of FinancialProducts of the Class, excluding any TreasuryStock, in existence)	100%
For an issue of Convertible Financial Productsor Options, the principal terms of Conversion(for example the Conversion price andConversion date and the ranking of theFinancial Product in relation to other Classesof Financial Product) or the Option (forexample, the exercise price and exercise date)	Not applicable
Reason for issue and specific authority forissue (the reason for change must be identifiedhere)	The proceeds of this offer will be used for thepurpose of repaying a portion of Arvida’s (andthe companies it owns) existing drawn bankdebt, providing some diversification of fundingsources and tenor.Specific authority for issue: written resolutionsof the board of directors dated 20 January2021
Total number of Financial Products of theClass after the issue (excluding TreasuryStock) and the total number of FinancialProducts of the Class held as Treasury Stockafter the issue.	125,000,000
In the case of an acquisition of shares, whetherthose shares are to be held as treasury stock	Not applicable
Specific authority for the issue, acquisition, orredemption, including a reference to the rulepursuant to which the issue, acquisition, orredemption is made	Written resolutions of the board of directorsdated 20 January 2021Rule 3.13.1

Terms or details of the issue, acquisition, orredemption (for example: restrictions, escrowarrangements)	As set out in the product disclosure statementdated 28 January 2021 for the offer of theBonds
Date of issue	22/02/2021
Section 3: Authority for this announcement and contact person
Name of person authorised to make thisannouncement	Jeremy Nicoll,Chief Financial Officer
Contact person for this announcement	Jeremy Nicoll
Contact phone number	021 403 665
Contact email address	info@arvida.co.nz
Date of release through MAP	22/02/2021