NZL – Accelerated Offer

New Zealand Rural Land Company Limited (NZX:NZL) has announced that it will undertake a pro rata 1 for 3 accelerated renounceable entitlement offer of fully paid ordinary shares of the same class as already quoted on the NZX Main Board (Shares) to raise approximately $38.5 million. In addition, 1 warrant (Warrant) will be issued for every 3 Shares allotted under the entitlement offer. A Warrant may be exercised in the future to receive a Share of the same class as already quoted on the NZX Main Board (together, the Offer). Pursuant to clause 20(1)(a) of Schedule 8 to the Financial Markets Conduct Regulations 2014 (the Regulations), and the Financial Markets Conduct Act 2013 (FMCA), NZL advises that: 1 NZL is making the Offer to investors in reliance upon the exclusion in clauses 19(1) and 19(1A) of Schedule 1 to the FMCA and is giving this notice under clause 20(1)(a) of Schedule 8 to the Regulations. 2 As at the date of this notice: a) NZL is in compliance with the continuous disclosure obligations that apply to it in relation to its quoted ordinary shares; b) NZL is in compliance with its "financial reporting obligations" (as defined in clause 20(5) of Schedule 8 of the Regulations); and c) there is no information that is "excluded information" (as defined in clause 20(5) of Schedule 8 of the Regulations). 3 The Offer is not expected to have any material effect or consequence on the control of NZL. Please refer to the Offer Document and Investor Presentation for more information. End CA:00407533 For:NZL Type:OFFER Time:2023-03-01 08:30:27