HGH meets Challenger Bank milestone & NZ$210m equity raise

NZX/ASX release 8 April 2024 Heartland announces indicative regulatory approval of Challenger Bank acquisition, and NZ$210m equity raise Heartland Group Holdings Limited (Heartland) (NZX/ASX: HGH) is pleased to announce that it has received indicative regulatory approvals from the Australian Prudential Regulation Authority (APRA) and the Reserve Bank of New Zealand (RBNZ) for Heartland Bank Limited's acquisition of Challenger Bank Limited from Challenger Limited (ASX: CGF). Heartland also announces a NZ$210 million equity raise, comprising an NZ$105 million underwritten institutional placement (Placement) and a NZ$105 million underwritten 1 for 6.85 accelerated non-renounceable entitlement offer (Entitlement Offer). APRA and RBNZ's final regulatory approvals are conditional on the successful completion of the Placement and Entitlement Offer. Included in this announcement is: 1. Offer Announcement 2. Offer Document 3. Investor Presentation 4. NZX Corporate Action Notice 5. Cleansing Notice ENDS The person(s) who authorised this announcement: Jeff Greenslade Chief Executive Officer Andrew Dixson Chief Financial Officer For further information, please contact: Nicola Foley Group Head of Communications +64 27 345 6809 nicola.foley@heartland.co.nz Level 3, Heartland House, 35 Teed Street, Newmarket, Auckland, New Zealand End CA:00429163 For:HGH Type:OFFER Time:2024-04-08 08:30:16