KMD BRANDS LIMITED — Major Shareholding Notification 2026

May 12, 2026

1

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 NZX Limited

and

To KMD Brands Limited ("KMD")

Relevant event being disclosed: Disclosure of more than 1% movement in substantial holdings

Date of relevant event: 11 May 2026

Date this disclosure made: 13 May 2026

Date last disclosure made: 30 April 2026

Substantial product holder(s) giving disclosure

Full name(s): New Zealand Superannuation Fund Nominees Limited as nominee for the New Zealand Superannuation Fund being property of His Majesty the King in right of New Zealand and managed by the Guardians of New Zealand Superannuation ("NZSF").

Summary of substantial holding

Class of quoted voting products: Ordinary Shares in KMD (ISIN: NZKMDE0001S3)

Summary for NZSF

For this disclosure,—

(a) total number held in class: 181,681,225
(b) total in class: 1,799,415,022
(c) total percentage held in class: 10.097%

For last disclosure,—

(a) total number held in class: 201,502,056
(b) total in class: 1,799,415,022
(c) total percentage held in class: 11.198%

Details of transactions and events giving rise to relevant event

Details of the transactions or other events requiring disclosure:

Between 29 April 2026 to 11 May 2026, NZSF (through its internal portfolios and account managed by Mint Asset Management Limited) sold an aggregate of 19,820,831 ordinary shares in KMD on market for aggregate consideration of $1,252,406.98

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2

Details after relevant event

Details for NZSF

Nature of relevant interest(s): Beneficial owner of shares and/or power to control the acquisition/disposal of, and voting rights attached to, shares.

For that relevant interest,—

(a) number held in class: 181,681,225
(b) percentage held in class: 10.097%
(c) current registered holder(s): New Zealand Central Securities Depository Limited (for NZSF). These shares are within NZSF’s internal equities portfolios
(d) registered holder(s) once transfers are registered: N/A

For a derivative relevant interest, also—

(a) type of derivative: N/A
(b) details of derivative: N/A
(c) 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(es) of substantial product holder(s):

Chief Post Office, Level 1
12 Queen Street
Auckland Central 1010
New Zealand

Contact details:

Lara Utatao
Ph: +64 9 373 8955
Email: operations@nzsuperfund.co.nz

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, Lara Utatao, 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.