SBS Bank Retail Bond Offer - Interest Rate Set

3 October 2024 SBS BANK RETAIL BOND OFFER – INTEREST RATE SET Southland Building Society, trading as SBS Bank (SBS Bank) today announced that following the successful bookbuild process for its offer of 5.5 year, unsecured, senior, fixed rate bonds (Bonds) maturing on 10 April 2030, $125,000,000 of Bonds have been allocated to participants in the bookbuild process. The interest rate for the Bonds has been set at 4.98% per annum. This reflects an issue margin of 1.45% per annum over the underlying base rate. The Bonds are expected to be quoted on the NZX Debt Market under the ticker code SBS030. The issue date is 10 October 2024. A copy of the final terms sheet (updated for the interest rate set out above) will be provided to NZX shortly. 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