Arvida Group Limited advises that the Board agreed to vest a pro-rata share to Bill McDonald of the 2019 Tranche of its long-term incentive (‘LTI’) plan. The calculation period covered the period from 1 April 2019 to 30 September 2021. The methodology compares Total Shareholder Return (‘TSR’) performance to a listed retirement village and care peer group and an NZX50 group. Details of the LTI plan are contained within the annual report.

In this Tranche, Arvida’s TSR was second out of the four companies in the peer group and 8th out of 46 companies in the NZX50 group. The overall result was that 80% of the Tranche entitlement, moderated by a pro-rata share for 30 months, vested into ordinary shares.

As such, 88,283 ordinary shares were issued on Friday.

For the 2021 Tranche LTI, a revised set of plan rules were issued. A copy of the rules is attached.

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