Heartland completes acquisition of StockCo Australia

NZX/ASX release 1 June 2022 Heartland completes acquisition of StockCo Australia Heartland Group Holdings Limited (Heartland) (NZX/ASX: HGH) is pleased to confirm the completion of the acquisition of StockCo Holdings 2 Pty Ltd and StockCo Australia Management Pty Limited (together, StockCo Australia) on 31 May 2022. Heartland announced on 1 April 2022 that it had signed conditional documentation to acquire the StockCo Australia business. Total consideration (which includes A$1.6m of deferred consideration payable subject to performance hurdles) is A$154.4 million. Existing operational funding for StockCo Australia has been refinanced by a new two-year committed securitisation warehouse funded by two major Australian financial institutions with additional capacity secured for growth. The acquisition of StockCo Australia is strategically aligned and financially compelling, representing a critical milestone in expanding Heartland's 'best or only' product and channel offering in Australia. Heartland's focus is to build on StockCo Australia's position as a market-leading provider of specialist livestock finance for cattle and sheep farmers across Australia, delivering capital for growth, digital enhancements to the existing product offering, and expansion into new market segments. - ENDS - For further information, please contact the person(s) who authorised this announcement: Andrew Dixson Chief Financial Officer +64 21 2632 666 andrew.dixson@heartland.co.nz Level 3, Heartland House, 35 Teed Street, Newmarket, Auckland, New Zealand For media enquiries, please contact: Nico Schlichting Group Senior Communications Advisor +64 20 4143 8797 nico.schlichting@heartland.co.nz End CA:00393081 For:HGH Type:TRANSACT Time:2022-06-01 08:52:55