Issue of Rights Pursuant to Long Term Incentive Plan

Stride Investment Management Limited (SIML) advises that it has today issued 40,120 rights to executives of SIML pursuant to the executive long term incentive scheme for FY18 (the period 1 April 2017 to 31 March 2020), and 431,924 rights to executives of SIML pursuant to the executive long term incentive scheme for FY19 (the period 1 April 2018 to 31 March 2021). The following information is supplied pursuant to NZX Main Board Listing Rule 7.12.1: Class of Security: Rights to Ordinary Shares in each of Stride Investment Management Limited and Stride Property Limited ISIN: N/A Number issued: 472,044 (being 40,120 rights issued in respect of the FY18 LTI scheme and 431,924 rights issued in respect of the FY19 LTI scheme) Issue price: Nil Payment in cash: N/A Amount paid up (if not in full): N/A Principal terms of the Securities: Rights to be issued with one ordinary share in each of Stride Investment Management Limited and Stride Property Limited, subject to meeting the conditions set out in the long term incentive plan rules Percentage of the total Class of Securities issued: 51.8% of total Rights on issue. If all Rights issued pursuant to this notice were converted to shares in Stride Investment Management Limited and Stride Property Limited (if all conditions to the issue of the shares were met), such shares would represent 0.13% of the total shares on issue Reasons for issue: Rights issued pursuant to the long term incentive plan for SIML Specific authority for issue: Board resolution dated 21 December 2018 Terms or details of issue: As set out in the long term incentive plan rules Total number of Securities of the Class in existence after the issue: 911,964 Treasury stock: Not applicable Date of issue: 21 December 2018 End For further information please contact: Tim Storey, Chairman, Stride Investment Management Limited / Stride Property Limited Mobile: 021 633 089 - Email: tim.storey@strideproperty.co.nz Philip Littlewood, Chief Executive Officer, Stride Investment Management Limited Mobile: 021 230 3026 - Email: philip.littlewood@strideproperty.co.nz Jennifer Whooley, Chief Financial Officer, Stride Investment Management Limited Mobile: 021 536 406 - Email: jennifer.whooley@strideproperty.co.nz Louise Hill, General Manager Corporate Services, Stride Investment Management Limited and Company Secretary of Stride Property Group Mobile: 0275 580 033 - Email: louise.hill@strideproperty.co.nz A Stapled Security of the Stride Property Group comprises one ordinary share in Stride Property Limited and one ordinary share in Stride Investment Management Limited. Under the terms of the constitution of each company, the shares in each can only be transferred if accompanied by a transfer of the same number of shares in the other. Stapled Securities are quoted on the NZX Main Board under the ticker code SPG. Further information is available at www.strideproperty.co.nz or at www.nzx.com/companies/SPG. End CA:00328828 For:SPG Type:SECISSUE Time:2018-12-21 13:29:00