Arvida Group Limited — Share Issue/Capital Change 2021

Jul 5, 2021

Capital Change Notice

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5 July 2021

Notice of issue of ordinary shares under Arvida’s Long Term Incentive plan

This notice is given under NZX Listing Rule 3.13.1 and 3.15.2 and relates to the exercise of performance share rights under Arvida’s Long Term Incentive Plan ( LTI Plan ) under which fully paid ordinary shares in Arvida Group Limited are issued on exercise of those performance rights.

This notice provides details of the exercise of 301,350 performance share rights under the 2018 tranche of the LTI Plan which covered the three-year period from 1 April 2018 to 22 June 2021 (the 2018 Tranche ).

In addition to the exercise of 301,350 performance share rights under the 2018 Tranche as detailed in this notice, 120,914 performance share rights under the 2018 Tranche have been cancelled as at 5 July 2021.

In relation to the 2021 tranche of the LTI Plan which covers the three-year period from 23 June 2021, 472,384 performance share rights have been issued as at 5 July 2021.

Arvida Group Limited now has 1,919,716 unlisted performance share rights (with varying exercise prices and expiry dates) on issue.

Section 1: issuer information

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----- Start of picture text ----- Name of issuer Arvida Group LimitedNZX ticker code ARVClass of Financial Product Ordinary SharesISIN NZARVE0001S5Currency New Zealand DollarsSection 2: capital change detailsNumber issued 301,350Nominal value (if any) Not applicableIssue price per security $2.12Nature of the payment (for example, Issued on exercise of 301,350 performance sharecash or other consideration) rights which have vested under the LTI Plan, for nocash consideration. The 2018 Tranche ofperformance rights, which had a vesting period ofthree years, vested on 22 June 2021. The LTI Planmethodology compares Total Shareholder Returnperformance to a listed retirement village and carepeer group and an NZX50 group. Upon exercise ofeach performance share right that has vested theholder is entitled to one ordinary share in ArvidaGroup Limited for no cash payment. Further detailsof the LTI Plan are included within Arvida’s annualreport.Amount paid up (if not in full) Fully paid ordinary shares----- End of picture text -----

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----- Start of picture text ----- Percentage of total class of Financial 0.06%Products issued (calculated on thenumber of Financial Products of theClass, excluding any Treasury Stock, inexistence)For an issue of Convertible Financial Not applicableProducts or Options, the principal termsof Conversion (for example theConversion price and Conversion dateand the ranking of the Financial Productin relation to other Classes of FinancialProduct) or the Option (for example, theexercise price and exercise date)Reason for issue specific authority for Vesting and exercise of 301,350 performance shareissue (the reason for change must be rights under the LTI Plan (see details above)identified here) authorised by a board resolution dated 1 July 2021Total number of Financial Products of 543,174,860the Class after the issue (excludingTreasury Stock) and the total number ofThere is no treasury stock.Financial Products of the Class held asTreasury Stock after theissue/acquisition/redemption.In the case of an acquisition of shares, Not applicablewhether those shares are to be held astreasury stockSpecific authority for the issue, Board resolution dated 1 July 2021 and listing ruleincluding a reference to the rule 3.15.2pursuant to which the issue is madeTerms of issue Listed ordinary shares ranking equally with theexisting ordinary shares on issue in Arvida GroupLimitedDate of issue 05/07/2021Section 3: authority for this announcementName of person authorised to make this Mark WellsannouncementContact person for this announcement Mark WellsContact phone number 021-327-054Contact email address mark.wells@arvida.co.nzDate of release via MAP 06/07/2021----- End of picture text -----

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