Property for Industry grants performance share rights for FY26 incentive

Property for Industry Limited (PFI) has issued 321,813 unquoted performance share rights (PSRs) under its Executive Long Term Incentive Plan FY26 Grant. These PSRs are convertible to ordinary PFI shares and represent 100% of the financial products in this specific class for the FY26 Grant. No consideration is payable for the PSRs, which have a set exercise price of $0.

The PSRs will vest in three tranches on 30/06/2026, 30/06/2027, and 30/06/2028, provided performance hurdles are met. Upon vesting and exercise, each PSR entitles the holder to one fully paid ordinary PFI share, ranking equally with existing ordinary shares. PSRs do not carry dividend or voting rights but will be adjusted to reflect dividends paid to PFI shareholders prior to exercise.

This issuance was authorized by a directors' resolution dated 18 September 2025 and falls under NZX Listing Rule 4.6.1. The total number of PSRs of this class after the issue is 321,813. The announcement was made on 26 September 2025 by Brendan Wright.