Cleansing Notice

19 February 2019 NZX Limited Level 1, NZX Centre 11 Cable Street WELLINGTON NOTICE PURSUANT TO CLAUSE 20(1)(A) OF SCHEDULE 8 TO THE FINANCIAL MARKETS CONDUCT REGULATIONS 2014 1.Precinct Properties New Zealand Limited ("Precinct") intends to undertake an offer of new ordinary shares in Precinct by way of: 1.1.a fully underwritten placement to selected investors to raise approximately $130 million; and 1.2.a retail share offer to Precinct's existing shareholders with an address in New Zealand to raise up to $20 million (plus up to $10 million in oversubscriptions at its discretion) which is fully underwritten except for the discretionary oversubscription amount, (together, the "Offer"). 2.Pursuant to the Offer, an offer for issue is being made to investors in reliance upon the exclusion in clause 19 of schedule 1 to the Financial Markets Conduct Act 2013. 3.This notice is provided under subclause 20(1)(a) of schedule 8 to the Financial Markets Conduct Regulations 2014 ("Regulations"). 4.As at the date of this notice: 4.1.Precinct is in compliance with the continuous disclosure obligations that apply to it in relation to ordinary shares in Precinct; 4.2.Precinct is in compliance with its financial reporting obligations (as defined in subclause 20(5) of schedule 8 to the Regulations); and 4.3.there is no information that is "excluded information" as defined in subclause 20(5) of schedule 8 to the Regulations. 5.The Offer is not expected to have any effect on the "control" (within the meaning of clause 48 of schedule 1 to the Financial Markets Conduct Act 2013) of Precinct. On behalf of Precinct Properties New Zealand Limited Scott Pritchard Chief Executive Officer End CA:00330752 For:PCT Type:OFFER Time:2019-02-19 08:38:52