2022 Long-Term Incentive Scheme and Financial Assistance

Establishment of Bremworth Limited 2022 Long-Term Incentive Scheme and Financial Assistance Disclosure Bremworth Limited ("Bremworth") (NZX: BRW) today announces that the Board has approved the establishment of the Bremworth 2022 Long-Term Incentive Scheme ("LTI Scheme") which eligible employees may be invited to participate in. The LTI Scheme is designed to encourage and incentivise employees and align their interests with Bremworth's shareholders by providing them with equity interests in Bremworth. LTI Scheme Participation under the LTI Scheme will give those selected eligible employees the right to receive ordinary shares in the Company ("Scheme Shares") on the achievement of certain performance conditions. In accordance with the terms of the Scheme, the Scheme Shares will be issued to Bremworth Share Scheme Limited ("Trustee") which will act as trustee of the LTI Scheme and will hold the Shares on behalf of the participating employees until the relevant vesting date. The Board has approved, upon acceptance of the invitation to participate in the LTI Scheme by the eligible employees, the issue of 890,328 Scheme Shares to the Trustee which will hold those Scheme Shares on behalf of those employees until the vesting date. Financial Assistance Disclosure Pursuant to the rules of the LTI Scheme, Bremworth will provide financial assistance by: (a) paying all costs, charges and expenses incurred in the administration of the LTI Scheme; and (b) indemnifying the Trustee for costs incurred by the Trustee in the administration and operation of the LTI Scheme. In accordance with section 80(1)(b) of the Companies Act 1993, Bremworth discloses: 1. Class and number of shares: The financial assistance will be provided in respect of 890,328 ordinary shares of Bremworth. 2. Consideration: The consideration payable for the issue of the Scheme Shares will be nil. 3. Recipients: The Trustee will be receiving financial assistance in connection with the issue and holding of shares on behalf of the relevant participants (being, as at the date of this notice, Rochelle Flint, Kirstine Hulse, Dean Chandler, Jason Howearth, Andrew Karl, Garth Clarke, Trevor Jones, Shane Eades and Victor Tan). 4. Nature and amount of the financial assistance: The financial assistance will be in respect of the costs, charges and expenses incurred in the administration and operation of the LTI Scheme. As at the date of this notice, the amount of the financial assistance provided to the Trustee is nil. 25 October 2022 ENDS For further information please contact: George Adams Chairman gadams@bremworth.co.nz +64 21 555 040 Greg Smith Chief Executive Officer gregsmith@bremworth.co.nz +64 21 711 622 End CA:00401100 For:BRW Type:ADMIN Time:2022-10-25 17:21:20