SBS BANK SUBORDINATED BOND OFFER – FINAL TERMS SHEET

15 February 2024 SBS BANK SUBORDINATED BOND OFFER - FINAL TERMS SHEET Further to the announcement made earlier today by Southland Building Society, trading as SBS Bank (SBS Bank), the final terms sheet relating to its issue of unsecured, subordinated debt securities which are issued as redeemable shares (Bonds) is attached and available via www.sbsbank.co.nz/sbs-listed-capital-bonds. Details of the offer and the Bonds are contained in the Limited Disclosure Document dated 5 February 2024 (LDD), which is available on the Disclose Register at https://disclose-register.companiesoffice.govt.nz under SBS Bank's offer number OFR13709. A copy of the LDD is also available at www.sbsbank.co.nz/sbs-listed-capital-bonds, or by contacting one of the Joint Lead Managers to the offer (listed below) or your usual financial advice provider. For further information, please contact a Joint Lead Manager or your usual financial advice provider. Arranger and Joint Lead Manager Westpac Banking Corporation (0800 772 142) Joint Lead Managers: Bank of New Zealand (0800 284 017), Forsyth Barr Limited (0800 367 227), and Jarden Securities Limited (0800 005 678). ENDS For further information, please contact: Mandy Oosterbroek Marketing Manager 027 500 1247 Mandy.oosterbroek@sbsbank.co.nz This document has been authorised for release by Mark McLean, Group Chief Executive End CA:00426255 For:SBS Type:OFFER Time:2024-02-15 13:38:20