Notification of Allotment of Securities

Section 1: Issuer information Name of issuer: Heartland Group Holdings Limited NZX ticker code: HGH Class of financial product: Fully paid ordinary shares ISIN: NZHGHE0007S9 Currency: NZD Section 2: Capital change details Number issued/acquired/redeemed: 3,511,020 Nominal value (if any): N/A Issue/acquisition/redemption price per security: $1.59485594 Nature of the payment (for example, cash or other consideration): Consideration satisfied pursuant to the Dividend Reinvestment Plan Amount paid up (if not in full): Fully paid up 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): 0.61% of the total number of fully paid ordinary shares prior to this issue 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): N/A Reason for issue/acquisition/redemption and specific authority for issue/acquisition/redemption/ (the reason for change must be identified here): Dividend Reinvestment Plan 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: 580,979,106 In the case of an acquisition of shares, whether those shares are to be held as treasury stock: N/A Specific authority for the issue, acquisition, or redemption, including a reference to the rule pursuant to which the issue, acquisition, or redemption is made: Director's resolution. Issue of Ordinary Shares under Listing Rule 4.8.1 Terms or details of the issue, acquisition, or redemption (for example: restrictions, escrow arrangements): Pursuant to the Dividend Reinvestment Plan Offer Document dated 10 December 2018 Date of issue/acquisition/redemption: 11/03/2020 Section 3: Authority for this announcement and contact person Name of person authorised to make this announcement: Michael Drumm Contact person for this announcement: Michael Drumm Contact phone number: 09 927 9136 Contact email address: Michael.Drumm@heartland.co.nz Date of release through MAP: 11/03/2020 End CA:00349770 For:HGH Type:SECISSUE Time:2020-03-11 09:22:45