Kiwi Group Capital and Kiwibank Board updates

29 September 2025 Kiwi Group Capital Limited (KGC) and Kiwibank Limited Board update KGC and Kiwibank are pleased to announce the following updates to their respective Boards. KGC Chair term extended KGC Shareholding Ministers have reappointed David McLean as Chair and Independent Director of KGC for a further term of one year effective from the current term expiry date of 1 November 2025 to 31 October 2026. KGC Director appointment KGC Shareholding Ministers have appointed Scott Pickering as a Director of KGC for a term of three years effective from 1 October 2025 to 30 September 2028. In taking up this role Mr Pickering has resigned from his position as an Independent Director of Kiwibank effective from 30 September 2025. He has been a Director since November 2016. KGC and Kiwibank extend their gratitude to Mr Pickering for his dedicated service to Kiwibank over the past nine years. They are pleased to retain his expertise for the continued benefit of the wider group. Kiwibank Chair appointment process As previously announced, Jon Hartley will not seek reappointment as Chair of Kiwibank when his current term ends on 29 November 2025. The process to appoint a new Chair of Kiwibank is well progressed and KGC expects to provide an update on an appointment in due course. - ENDS For investor relations queries, please contact: Geoff Martin Email: geoff.martin@kiwibank.co.nz Michael Thompson Email: michael.thompson@kiwibank.co.nz For media enquiries, please contact: Ben Mabon Email: ben.mabon@kiwibank.co.nz