PACIFIC EDGE LIMITED — Capital/Financing Update 2021

Aug 27, 2021

Template Capital Change Notice

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Updated as at 17 October 2019

Section 1: Issuer information
Name of issuer	Pacific Edge Limited
NZX ticker code	PEB
Class of financial product	Options to acquire Ordinary Shares
ISIN (If unknown, check on NZX website)	NZPEBE0002S1
Currency	NZD
Section 2: Capital change details
Number issued/acquired/redeemed	682,500
Nominal value (if any)	Not applicable
Issue/acquisition/redemption price per security	Incentive Options have an exercise price of NZD$1.23 per share payable in cash.
Nature of the payment (for example, cash or other consideration)	Not applicable
Amount paid up (if not in full)	Not Applicable
Percentage of total class of Financial Products issued/acquired/redeemed/ (calculated on the number of Financial Products of the Class, excluding any Treasury Stock, in existence)1	If 100% of the options were to vest and be exercised on the date of this notice of allotment, it would represent 0.0936% of the Ordinary Shares on issue.
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)	a. Subject to the continuous employment of the relevant Option Holder with either the Company or a subsidiary of the Company, one third of the Incentive Options available to the relevant Option Holder will vest in the Option Holder each year, on the first three anniversaries of their Date of Employment/Effective Date as recorded in the Schedule of the relevant Option Agreement. If the Option Holder's employment ceases then they will receive a fractional entitlement based on their

1 The percentage is to be calculated immediately before the issue, acquisition, redemption or Conversion.

	length of service during the relevant year. b. The Incentive Options may be exercised within a period of six years from their vesting date. c. Consideration of NZD$1.23 per share is payable in cash on the exercise of any of the Incentive Options. Any shares issued pursuant to the Incentive Options will rank pari passu with existing ordinary shares in the Company.
Reason for issue/acquisition/redemption and specific authority for issue/acquisition/redemption/ (the reason for change must be identified here)	Issue of options as part of Pacific Edge Limited’s long term incentive plan for employees
Total number of Financial Products of the Class after the issue/acquisition/redemption/Conversion (excluding Treasury Stock) and the total number of Financial Products of the Class held as Treasury Stock after the issue/acquisition/redemption.	729,076,899 ordinary shares and 15,337,288 options outstanding
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, acquisition, or redemption, including a reference to the rule pursuant to which the issue, acquisition, or redemption is made	Resolution of Directors dated 26 August 2021 and Listing Rule 4.6.1.
Terms or details of the issue, acquisition, or redemption (for example: restrictions, escrow arrangements)	Detailed above
Date of issue/acquisition/redemption2	26 August 2021
Section 3: Authority for this announcement and contact person
Name of person authorised to make this announcement	Grant Gibson
Contact person for this announcement	Grant Gibson
Contact phone number	+64 3 479 5800
Contact email address	grant.gibson@pelnz.com
Date of release through MAP	27 August 2021

2 Continuous issuers using this form in reliance on Rule 3.13.2, please indicate the period during which the relevant issue/acquisition/redemptions were made (for example, 1 January 2019 to 31 January 2019).