PMG | 390 Prestons Road

P R E STO N S ROA D L P

Bespoke large format retail opportunity, for wholesale investors only

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The opportunity To acquire a share of a prime large format retail property in Christchurch upon its completion, at a purchase price below a current as-if-complete market valuation.

Objective Deliver investors a total pre-tax compounded annual rate of return of at least 12% per annum on capital contributions over the Limited Partnership’s (LP) life.

20 year initial lease term

12%+ p.a.* target gross 3 year internal rate of return

6% p.a.* target gross cash return, paid quarterly

Investment highlights Strategy •

Prior to development, secure Mitre 10 as a tenant at the property, and commit to the acquisition of 60% of the property (Property Share) and provision of development funding;

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During development, advance funding over time to generate interest income;

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At development completion, acquire the Property Share with the lease to Mitre 10 commenced, at the effective cost of development; and

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Dispose of the Property Share over a three year period from initial capital commitment.

Secured fully net lease with national home improvement brand Mitre 10;

Structured acquisition and funding terms to generate value while protecting capital;

Development from a renowned, expert local builder, Tuatara Structures under a fixed-price contract; and

Attractive long-term location, set to serve a growing catchment with supportive demographics.

*Indicative targets only, are subject to change, and based on certain assumptions. There is no guarantee of future performance.

A commercial property investment with an exceptional tenant With over 80 independently owned stores, Mitre 10 is one of New Zealand’s most recognised and trusted brands. Their proven track record in the home improvement sector makes them an ideal tenant.

Delivered by a trusted developer and builder To be developed by Tuatara Structures, this project is backed by an industry leader with a proven track record in delivering high-quality commercial developments on time and within budget.

Other key information Target size

Seeking up to $14.0 million of equity commitments, with a minimum of $100,000 per investor.

Up to $6.0 million of equity has been conditionally committed to the LP.

Investment risks Primary risks associated with development execution, market value, and saleability of the property over time. Other risks will apply.

Target dates November 2024 Capital commitment date and first capital call.

March 2025 First quarterly distribution declared.

December 2025 Development completion and acquisition of the Property Share.

Regular distributions Targeted gross distributions of 6.00% per annum on capital called, paid quarterly. On disposal, a final distribution will be paid from any residual surplus after performance fees (if any).

Liquidity A PMG fund will co-invest alongside the LP to acquire the remaining 40% of the property, and intends to own the entire property long term.

Intent is to provide investor liquidity within three years of equity commitment through sale via an embedded option mechanism to the PMG fund.

Fees and costs Key fees to be paid to PMG (as manager) by the LP include contribution, establishment, disposal and performance fees. Other fees and third-party expenses will apply.

Further information related to this opportunity will be made available only to wholesale investors in an upcoming Information Memorandum.

Matt McHardy GM Investor Relationships

Ben Cant Investor Relationships Manager

Rory Diver Investor Relationships Manager

021 193 4550 matt.mchardy@pmgfunds.co.nz

027 700 9970 ben.cant@pmgfunds.co.nz

027 700 6979 rory.diver@pmgfunds.co.nz

This document is made available commercially in confidence directly by PMG Management Limited to the intended party only. It is intended to be made available only to persons in New Zealand that qualify as a “wholesale investor” within the meaning of the Financial Markets Conduct Act 2013 (Wholesale Investor). Any offer of a financial product will only be open to persons who fall within the exclusions applicable to offers made to Wholesale Investors as set out in Schedule 1, clause 3 of the Financial Markets Conduct Act 2013. Additional considerations may apply to investors not resident in New Zealand.

The information contained within is provided for general purposes only, and is not and should not be construed as an offer of financial products. This document is not a product disclosure statement, prospectus, or disclosure document. The key terms of, and further information on, the investment opportunity will be made available in an Information Memorandum, which will only be provided to wholesale investors. This investment is not suitable for retail investors. Investors should take their own legal advice as to their status under the Financial Markets Conduct Act 2013, and should consider obtaining their own tax, legal and financial advice before making any investment decision.

Some images in this document are renders only.