Precinct Share Purchase Plan Closes Oversubscribed

Precinct Properties Group (Precinct) (NZX: PCT) is pleased to announce that its non-underwritten share purchase plan (SPP) targeting $25 million of new stapled shares (New Stapled Shares) has closed oversubscribed. The SPP was well supported by shareholders, with Precinct receiving valid applications totalling approximately $52 million. In recognition of the strong support from eligible shareholders and the desire to, as far as is practical, allow shareholders to maintain their proportionate ownership following the equity raising, Precinct has elected to accept oversubscriptions in accordance with the terms of the SPP. Precinct is accepting an additional $15 million of subscriptions, bringing the total amount raised under the SPP to $40 million. Under the SPP, each eligible shareholder who was recorded in Precinct’s share register as being a registered holder of Precinct’s stapled shares (Stapled Shares) and having an address in New Zealand as at 5:00pm (NZDT) on the record date of 10 October 2025 (Eligible Shareholder) could subscribe for up to $50,000 worth of New Stapled Shares. Over 8,950 Eligible Shareholders applied under the SPP, with an average application size of approximately $5,800. Applications will be scaled based on the holdings at the record date for the SPP, as per the terms of the SPP. The SPP was part of Precinct’s equity raise announced on 13 October 2025, under which Precinct also undertook a fully underwritten $285 million placement of New Stapled Shares to eligible investors in New Zealand, Australia and certain other jurisdictions (Placement). The New Stapled Shares under the SPP will be issued at a price of $1.2047 per New Stapled Share, being a 2.5% discount to the five-day volume weighted average price of Stapled Shares traded on the NZX during the five NZX trading days up to, and including, the closing date of the SPP. Settlement, allotment, and the commencement of trading of New Stapled Shares issued under the SPP is expected to occur on 4 November 2025. The New Stapled Shares to be issued under the SPP will rank equally in all respects with Precinct’s existing Stapled Shares on issue. End For further information, please contact: Scott Pritchard Chief Executive Officer Mobile: +64 21 431 581 Email: scott.pritchard@precinct.co.nz George Crawford Deputy Chief Executive Officer Mobile: +64 21 384 014 Email: george.crawford@precinct.co.nz Richard Hilder Chief Financial Officer Mobile: +64 29 969 4770 Email: richard.hilder@precinct.co.nz About Precinct Listed on the NZX Main Board under the ticker code PCT and ranked in the NZX top 30, Precinct is the largest owner, manager and developer of premium city centre real estate in Auckland and Wellington. Precinct is predominantly invested in office buildings and also includes investment in Precinct Flex, Commercial Bay retail and a multi-unit residential development business. As at 30 June 2025, Precinct's directly-held portfolio (on-completion value) totalled $3.2 billion and Precinct had a further $1.6 billion of capital partnering assets under management: $1.2 billion of these were assets in which Precinct holds a minority interest; with the balance being managed on behalf of third party partners. For more information visit: www.precinct.co.nz On 1 July 2023, Precinct effected a restructuring to create a stapled group structure. A stapled group comprises two listed parent companies whose shares are held by the same shareholders in equal proportions. The shares in each parent company can only be transferred or dealt with together. Shareholders in Precinct hold an equal number of shares in Precinct Properties New Zealand Limited and Precinct Properties Investments Limited and these shares can only be dealt with together. The stapled issuers are described as “Precinct Properties NZ & Precinct Properties Investments Ltd” on NZX systems and the ticker code for the Stapled Shares remains PCT. NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES This announcement has been prepared for publication in New Zealand and may not be released or distributed in the United States. This announcement does not constitute an offer to sell, or the solicitation of an offer to buy, any New Stapled Shares in the United States or in any jurisdiction in which such an offer or solicitation would be illegal. The New Stapled Shares have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (U.S. Securities Act) or under the securities laws of any state or other jurisdiction of the United States, and may not be offered, sold or otherwise transferred, directly or indirectly, in the United States or to any person acting for the account or benefit of a person in the United States, except, in the case of the Placement, in transactions exempt from, or not subject to, the registration requirements of the U.S. Securities Act and the securities laws of any state or other jurisdiction of the United States. The New Stapled Shares may be offered and sold outside the United States only in “offshore transactions” (as defined in Rule 902(h) under the U.S. Securities Act) in reliance on Regulation S under the U.S. Securities Act. You must not send copies of this announcement or any other material relating to the SPP to any person in the United States or elsewhere outside New Zealand. The release, publication or distribution of this announcement (including an electronic copy) outside New Zealand may be restricted by law. If you come into possession of this announcement, you should observe such restrictions. Any non-compliance with these restrictions may contravene applicable securities laws. Important Notice This announcement does not constitute investment or financial product advice, nor is it a recommendation to acquire New Stapled Shares. It is not intended to be used as the basis for making a financial decision, nor is it intended to constitute legal, tax, accounting or other advice. You should make your own enquiries and investigations regarding any investment, and should seek your own professional advice on the legal, financial, accounting, taxation and other consequences of investing in Precinct. This announcement is not a prospectus, product disclosure statement or any other disclosure or offering document under New Zealand law or any other law. This announcement is for information purposes only and is not an invitation or offer of securities for subscription, purchase or sale in any jurisdiction and neither this announcement nor anything in it shall form any part of any contract for the acquisition of New Stapled Shares.