Precinct grants performance share rights to employees

Precinct Properties Group has issued 3,428,694 unquoted performance share rights, representing 56.09% of all existing performance share rights. These rights, granted for nil consideration under Precinct’s employee share scheme, aim to promote retention and foster employee and shareholder alignment. The issuance was authorized by a board resolution dated August 26, 2025.

The rights convert on a 1:1 basis into fully paid ordinary shares for nil consideration, subject to Precinct's TSR and FFO performance over a vesting period from July 1, 2025, to June 30, 2028, and the participant's continued employment. These rights rank behind ordinary shares, are non-transferable, and carry no voting rights. Shares will be issued on the first trading day after the relevant right vests, with the earliest vesting date being September 9, 2025.

Following this issuance, the total number of performance share rights in the class stands at 9,541,211. The terms also specify that rights lapse at the board's discretion for material breaches of employment obligations, fraud, or dishonesty.