SBS Bank Retail Bond Offer - Books Closed

3 October 2024 SBS BANK RETAIL BOND OFFER – BOOKS CLOSED Following the successful bookbuild process for its offer of 5.5 year, unsecured, senior, fixed rate bonds (Bonds), Southland Building Society, trading as SBS Bank (SBS Bank) confirmed today that the offer has closed and $125,000,000 of Bonds have been allocated to participants (or their clients) in the bookbuild process. This includes oversubscriptions of $25,000,000 which is 100% of the amount available for oversubscriptions. There was no public pool for the offer, with all Bonds allocated to clients of the Joint Lead Managers, NZX Participants and other approved financial intermediaries. The issue margin for the Bonds has been set at 1.45% per annum and the interest rate will be announced via NZX later today, along with the release of the final terms sheet. For further details investors can contact one of the Joint Lead Managers listed below, or their usual financial advice provider. Arranger and Joint Lead Manager Westpac Banking Corporation 0800 772 142 Joint Lead Manager Forsyth Barr 0800 367 227 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