Property for Industry Limited — Share Issue/Capital Change 2021

Feb 21, 2021

Template

==> picture [101 x 49] intentionally omitted <==

Capital Change Notice

Updated as at 17 October 2019

Section 1: Issuer information
Name of issuer	Property for Industry Limited
NZX ticker code	PFI
Class of financial product	Ordinary Shares
ISIN (If unknown, check on NZX website)	NZPFIE0001S5
Currency	NZD
Section 2: Capital change details
Number issued/acquired/redeemed	84,685
Nominal value (if any)	Not applicable
Issue/acquisition/redemption price per security	Nil
Nature of the payment (for example, cash or otherconsideration)	Upon the vesting ofperformance rights under thesecond tranche of Property forIndustry’s (PFI) ExecutiveLong Term Investment Plan2019 (2019 Grant) and firsttranche of PFI’s ExecutiveLong Term Investment Plan2020 Grant (2020 Grant), theholder is entitled to oneordinary share in PFI for nocash payment, together withan additional allocation ofshares equal to the dividendspaid over the vesting period.Further details of that trancheare included within PFI’sannual report.
Amount paid up (if not in full)	Fully paid ordinary shares
Percentage of total class of Financial Productsissued/acquired/redeemed/ (calculated on the number ofFinancial Products of the Class, excluding any Treasury Stock,in existence)	0.017%
For an issue of Convertible Financial Products or Options, theprincipal terms of Conversion (for example the Conversionprice and Conversion date and the ranking of the FinancialProduct in relation to other Classes of Financial Product) or theOption (for example, the exercise price and exercise date)	Not applicable.
Reason for issue/acquisition/redemption and specific authorityfor issue/acquisition/redemption/ (the reason for change mustbe identified here)	Vesting of 120,434 PSRs inthe 2019 and 2020 Grant.Directors’ resolution dated 22February 2021.

Total number of Financial Products of the Class after theissue/acquisition/redemption/Conversion (excluding TreasuryStock) and the total number of Financial Products of the Classheld as Treasury Stock after the issue/acquisition/redemption.	501,387,573 ordinary shares65,341 performance rights ofthe same Class from the 2019Grant remain on issue.110,186 performance rights ofthe same Class from the 2020Grant remain on issue.
In the case of an acquisition of shares, whether those sharesare to be held as treasury stock	N/A
Specific authority for the issue, acquisition, or redemption,including a reference to the rule pursuant to which the issue,acquisition, or redemption is made	Directors’ resolution dated 22February 2021 pursuant toNZX Listing Rule 4.6.1 and4.9.1(b).
Terms or details of the issue, acquisition, or redemption (forexample: restrictions, escrow arrangements)	The shares issued are quotedordinary shares rankingequally with the existingordinary shares on issue of PFI
Date of issue/acquisition/redemption1	22 February 2021
Section 3: Authority for this announcement and contact person
Name of person authorised to make this announcement	Craig Peirce
Contact person for this announcement	Craig Peirce
Contact phone number	09 303 9651
Contact email address	peirce@pfi.co.nz
Date of release through MAP	22 February 2021

1 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).