Allotment of securities

Pursuant to Listing Rule 7.12.1, Kiwi Property Group Limited gives notice as follows: (a) Class of security and ISIN: Fully paid ordinary shares. The ISIN is NZKPGE0001S9 (b) Number of securities issued: 65,474 (c) Issue price: $1.3532 (d) Payment: Cash (e) Amount paid up: Fully paid (f) The principal terms of the securities (other than for quoted securities): Not applicable as quoted securities (g) % of the total class of securities issued: 0.005% of the shares on issue (including these new shares) (h) Reason for issue: Issue of shares pursuant to the Company's employee share ownership plan (i) Specific authority for issue: Board resolution dated 15 February 2018 (j) Terms or details of issue: Fully paid ordinary shares in the Company, issued in accordance with the Company's employee share ownership plan and held by the plan's trustee on behalf of eligible employees for the three-year vesting period. Each eligible employee has acquired a beneficial interest in 577 shares based on a contribution by the Company of $780 per eligible employee and an allocation price of $1.3532 per share. The subscription price payable by each eligible employee for the shares was $1.00 (k) Total number of securities of the class in existence after the issue: 1,420,480,299 (l) Treasury stock acquisition: Not applicable (m) Date of issue: 18 April 2018 > Ends Contact us for further information Stuart Tabuteau Chief Financial Officer stuart.tabuteau@kp.co.nz +64 9 359 4025 Gavin Parker Chief Operating Officer gavin.parker@kp.co.nz +64 9 359 4012 About us Kiwi Property (NZX: KPG) is the largest listed property company on the New Zealand Stock Exchange and is a member of the S&P/NZX 15 Index. We've been around for more than 20 years and we proudly own and manage a $3.1 billion portfolio of real estate, comprising some of New Zealand's best shopping centres and prime office buildings. Our objective is to provide investors with a reliable investment in New Zealand property by targeting superior risk-adjusted returns over time through the ownership and active management of a diversified, high-quality portfolio. S&P Global Ratings has assigned Kiwi Property a corporate credit rating of BBB (stable) and an issue credit rating of BBB+ for each of its fixed rate senior secured bonds. Kiwi Property is licensed under the Real Estate Agents Act 2008. To find out more, visit our website kp.co.nz End CA:00316914 For:KPG Type:GENERAL Time:2018-04-18 16:26:47