18 March 2022 New Zealand Rural Land Company Limited (NZX.NZL) provides the attached Capital Change Notice pursuant to NZX Listing Rule 3.13.1. This Notice relates to the issue of 162,004 ordinary shares under NZL’s Dividend Reinvestment Plan, dated 8 February 2022, in respect of the FY22 interim dividend.

ENDS For further information please contact: Christopher Swasbrook Director Mobile: 021 928 262 Email: [email protected]

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