Share Rights Vested

20/11/2024 16:05 NZDT, GENERAL

In accordance with Listing Rule 3.15.1, the Meridian Board advises that the share rights (Share Rights) held by certain employees (Participants) under its Executive Long Term Incentive Scheme, implemented by Meridian on 23 August 2019 (Scheme), vested on 21 October 2024 and are now convertible into ordinary shares of Meridian (Shares). Participants will have until 19 November 2024 to exercise their respective rights to have transferred to them their entitled Shares which are held by Meridian as treasury stock.

For each Share Right exercised a Participant is entitled to one Share in the Company, plus an additional number of Shares equal to the value of gross cash dividends per Share which would have been paid to a New Zealand tax resident who held a Share for the duration of the vesting period, calculated using the volume weighted average price over the 10 business days up to and including 21 October 2024 (being the last day of the vesting period).

Meridian expects to transfer Shares to Participants the business day following the end of the Exercise Period on 20 November 2024.