Issue of Performance Fee Shares

20/05/2026 17:04 NZST, SECISSUE

20 May 2026

Issue of Performance Fee Shares

New Zealand Rural Land Company (NZL.NZX) confirms it has issued 257,415 fully paid ordinary shares

to satisfy the Performance Fee for the period ending 31 December 2025 at an issue price of $1.6097

and a further 101,252 fully paid ordinary shares to satisfy the restated Performance Fee for the

period ending 31 December 2024 at an issue price of $1.6629.

The total number of shares on issue is now 146,497,193.

Rob Campbell

Independent Chair

For further information please contact:

Richard Milsom - Director, NZRLM

Mobile: 021 274 2476

Email: richard@nzrlm.co.nz