Meridian shares vest for employees under long-term incentive scheme

Share rights held by Meridian employees under the Executive Long Term Incentive Scheme, established on August 23, 2019, vested on October 3, 2025. These vested rights are now convertible into ordinary Meridian shares, with participants having until October 17, 2025, to exercise their rights.

For each share right exercised, a participant will receive one company share and an additional number of shares equivalent to the gross cash dividends per share. This dividend calculation covers the period from the issue date to the allocation date (October 3, 2025), based on the volume-weighted average price over the 10 business days ending on October 3, 2025, and is applicable to a New Zealand tax resident shareholder.

Meridian anticipates transferring these shares to participants on October 20, 2025, the business day following the conclusion of the exercise period.