Kiwi Property: More employee share rights issued, performance-based

Kiwi Property Group Limited (NZX:KPG) has issued 85,654 unlisted Performance Share Rights (PSRs). These rights were issued without any cash consideration payable by recipients and are denominated in New Zealand dollars. The issuance was authorized by a board resolution dated September 26, 2025.

Following this issuance, the total number of unlisted Performance Share Rights stands at 5,244,984. If all these PSRs vest and are exercised, they could convert into 5,244,984 Ordinary Shares in Kiwi Property. The company confirmed that there is no treasury stock held.

The newly issued PSRs have a three-year vesting period, commencing April 1, 2025, and concluding March 31, 2028. Vesting is contingent upon the satisfaction of specific hurdles. Upon vesting, each PSR grants the right to one Ordinary Share in Kiwi Property without any cash payment, and these rights are not transferable. The official date of this capital change is September 26, 2025.