Kiwi Property issues new restricted share rights for employee incentive plan

Kiwi Property Group Limited has issued 104,166 new unlisted restricted share rights, increasing the total number of such rights to 236,034. This issuance represents 78.99% of all existing restricted share rights, as per the company's capital change notice. The rights were issued under the Kiwi Property Group Limited Share Rights Plan and were authorized by a board resolution dated March 26, 2025.

These new restricted share rights are subject to a one-year vesting period, commencing on August 4, 2025. Vesting is contingent upon the participant's continued employment with Kiwi Property throughout this period. No cash consideration is payable for the rights, and upon vesting, each right can be converted into one ordinary share in Kiwi Property without any cash payment. The restricted share rights are non-transferable.

The number of restricted share rights granted was determined by dividing a specified grant value by the closing share price of Kiwi Property's shares on the NZX Main Board on August 4, 2025. If all restricted share rights vest and are exercised, it would result in 236,034 ordinary shares, with no treasury stock held. The effective date of issue is September 26, 2025.