PLP – Distribution Notice

PLP Distribution Notice - 20 March 2020 Distribution Announcement Booster Investment Management Limited, in its capacity as manager of the Private Land and Property Fund, is pleased to announce the distribution for the year ended 31 March 2020. You must be a registered security holder of the Fund on the Record Date of 27 March 2020 to be eligible for this distribution. The distribution represents a pre-tax return of 3.1% and is based on the cash earnings of the Fund over the period 1 April 2019 to 31 March 2020. Over the period from 1 April 2019 to 18 March 2020, the annualised pre-tax return reflected in the unit price was 8.5% due to a combination of income and revaluation of property. This compares favourably with the long term expected pre-tax return of 8% as indicated in the Fund's Product Disclosure Statement. The Fund is currently generating a cash based pre-tax return of 4.5% from its lease income and grape supply contract, and continues to benefit from valuation gains on its land under development, which is reflected in the net asset value of the units. The Manager has recently assessed the impact on income and valuation of its property given the uncertain times arising from the COVID-19 outbreak. Whilst acknowledging the need to continually monitor developments, the Manager is comfortable that its income and property values are not adversely impacted by current events. For further information regarding the Private Land and Property Fund visit https://www.booster.co.nz/booster-investments/private-land-and-property-fund About Booster Booster Investment Management Limited (Booster) is the manager and issuer of the Fund, and part of the Booster Group which has been helping New Zealanders save since 1998. The group currently administers superannuation and investment funds of over $3 billion on behalf of more than 120,000 New Zealanders. For more information, including a copy of the Product Disclosure Statement, please visit www.booster.co.nz End CA:00350377 For:PLP Type:CORPACT Time:2020-03-20 16:53:29