PLP – Property Valuation Review

PLP - Property Valuation Review 30 March 2021 The Manager has undertaken a periodic review of the properties in the Private Land and property Portfolio, the wholesale fund into which the PLP invests. Following that review, the net valuation adjustment reflected in the unit price has been increased by $922,000, which represents a change of 1.44% to the net asset value of the PLP. The primary driver of the change is in respect of the carrying value of the kiwifruit orchard in Northland, which was purchased by the Fund in September 2019. As the kiwifruit orchard was, at the time of purchase, recently planted/ grafted, the Manager is recognising the increase in the value of the orchard as the plants approach maturity. The Manager has also reviewed the expected yield and long-term grape prices of the vineyards owned in Awatere and has adjusted its estimates accordingly. This adjustment will be reflected in the unit price for 29 March 2021 and this price will be published on 31 March 2021. For more information, please contact: Gary Scott Company Secretary Booster Investment Management Limited 04 8944300 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 $3.5 billion on behalf of more than 120,000 New Zealanders. PLP is a managed investment fund that invests in land and property-based investments by investing in units in Booster's Private Land and Property Portfolio. PLP only holds these units. For more information, including a copy of the Product Disclosure Statement, please visit www.booster.co.nz End CA:00369974 For:PLP Type:GENERAL Time:2021-03-31 08:30:16