Capital Change Notice - Issue of Performance Fee Shares

2 May 2025 Issue of Performance Fee Shares New Zealand Rural Land Company (NZL.NZX) confirms it has issued 411,772 fully paid ordinary shares to satisfy the Performance Fee for the period ending 31 December 2024 at an issue price of NZ$1.5986. Total number of shares on issue is now 145,024,724. An NZX Capital Change Notice is attached. For further information please contact: Richard Milsom - Director, NZRLM Mobile: 021 274 2476 Email: richard@nzrlm.co.nz