Capital change notice of allotment

Capital Change Notice from Precinct Properties New Zealand Limited ("Precinct") pursuant to Listing Rule 3.13.1 for the issue of 10,005,120 ordinary shares under Listing Rule 4.1.2(a)/4.3.1(c) and 4,800,427 ordinary shares under Listing Rule 4.1.2(b)/4.5 as a result of the $21.9 million raised through the Retail Share Offer which forms part of Precinct's $150 million capital raising announced on 19 February 2019. Pursuant to Listing Rule 3.13.1, Precinct advises that the following securities have been issued on 11 March 2019: Section 1: issuer information Name of issuer Precinct Properties New Zealand Limited NZX ticker code PCT Class of Financial Product Ordinary Shares ISIN NZAPTE0001S3 Section 2: capital change details Number issued/acquired/redeemed/ 14,805,547 Nominal value (if any) Not applicable Issue/acquisition/redemption/ price $1.48 Nature of the payment (for example, cash or other consideration) Cash Amount paid up (if not in full) Paid in full Percentage of total class of Financial Products issued/acquired/redeemed/ (calculated on the number of Financial Products of the Class, excluding any Treasury Stock, in existence) 1.140% For an issue of Convertible Financial Products or Options, the principal terms of Conversion (for example the Conversion price and Conversion date and the ranking of the Financial Product in relation to other Classes of Financial Product) or the Option (for example, the exercise price and exercise date) Not applicable Reason for issue/acquisition/redemption and specific authority for issue/acquisition/redemption/ (the reason for change must be identified here) Allotment under Retail Share Offer conducted by Precinct Properties New Zealand Limited, as previously disclosed to the market including in the offer document dated 20 February 2019 Total number of Financial Products of the Class after the issue/acquisition/redemption/ Conversion (excluding Treasury Stock) and the total number of Financial Products of the Class held as Treasury Stock after the issue/acquisition/ redemption. 1,313,764,049 In the case of an acquisition of shares, whether those shares are to be held as treasury stock Not applicable Specific authority for the issue, acquisition, or redemption, including a reference to the rule pursuant to which the issue, acquisition, or redemption is made Directors' resolutions dated 18 February 2019 o 10,005,120 ordinary shares were issued under Listing Rule 4.1.2(a)/4.3.1(c) (Share Purchase Plan) o 4,800,427 ordinary shares were issued under Listing Rule 4.1.2(b)/4.5 (15% placement) Terms or details of the issue, acquisition, or redemption (for example: restrictions, escrow arrangements) New ordinary shares which rank equally with all other fully paid ordinary shares in Precinct Properties New Zealand Limited Date of issue/acquisition/redemption 11 March 2019 Section 3: authority for this announcement Name of person authorised to make this announcement Richard Hilder Contact phone number +64 29 969 4770 Contact email address Richard.Hilder@precinct.co.nz Date of release via MAP 11 March 2019 End CA:00331717 For:PCT Type:OFFER Time:2019-03-11 08:47:57