New employee share plan

Kiwi Property Group Limited (Kiwi Property) has implemented a new employee share plan designed to better drive long-term performance and promote employee retention. The plan features two components: 1.Performance share rights Performance share rights have been offered to executives and other invited employees, and vest if return on capital employed and relative shareholder return thresholds are met. Vesting occurs equally over a three-year period, calculated as a percentage of the participant's fixed annual remuneration. Performance share rights do not carry a dividend entitlement. The scheme replaces the previous executive long-term incentive (LTI) plan. 2.Restricted share rights Restricted share rights have been offered to all permanent full time and part time employees, helping to align the interests of shareholders and participants. It is expected that rights will be granted each year on 1 April and vest after three years, provided the employee is still working for Kiwi Property or a related company. The restricted share rights scheme replaces the previous employee share option plan (ESOP). A notice of allotment of performance share rights and restricted share rights accompanies this announcement. > Ends Contact us for further information Campbell Hodgetts Campbell.hodgetts@kp.co.nz 0275634985 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 20 Index. We've been around for over 25 years and we proudly own and manage a $3.3 billion portfolio of real estate, comprising some of New Zealand's best mixed-use, retail and office buildings. Our objective is to provide investors with a reliable investment in New Zealand property 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 one of the highest rated New Zealand companies within CDP (Carbon Disclosure Project) and is a member of FTSE4 Good, a series of benchmarks and tradeable indices for ESG (Environmental, Social and Governance) investors. Kiwi Property is licensed under the Real Estate Agents Act 2008. To find out more, visit our website kp.co.nz End CA:00346412 For:KPG Type:SHINTR Time:2019-12-20 12:17:51