Introducing Vezstar

Vezstar offers investors a structured way to invest in short-term rental properties (STR).

Our objective is to build and operate a professionally managed portfolio of well-located, feature-rich residential properties designed for short-term accommodation. Through active management and dynamic pricing, we aim to generate income levels above those typically achieved through traditional long-term residential rentals.

We have already started building our portfolio with our first property located in central Hamilton, which has been generating income from short stays since 5 December 2025.

Current Portfolio

Vezstar has already commenced operations with its first property located at 21/391 Victoria Street, Hamilton Central. The property has been fully operational as a short-term rental since acquisition.

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Since Acquisition:

• The property occupancy was greater than 90% for the last 3 months.

• Guest stays have predominantly been multi-night bookings, including both leisure and business travellers.

• The property has received consistent 4.9 star reviews, reflecting strong guest satisfaction and repeatable demand.

This early performance provides live operational data supporting the STR model in the Hamilton market.

Growth Strategy

Capital raised through this Offer will be applied toward acquiring additional properties.

Target properties have already been identified within Hamilton. Our immediate focus is to establish a concentrated portfolio within the Hamilton CBD and surrounding high-demand locations to benefit from:

• Corporate travel demand

• Event-driven accommodation demand

• University and regional business activity

• Tourism and domestic travel

Hamilton has been chosen as our starting market deliberately. Airbnb data shows it has minimal seasonal demand fluctuations, strong domestic demand from the business sector, proximity to major tourism activities, major annual events, a large university, and a major hospital, providing multiple independent, year-round demand sources.

Over the next five years, Vezstar intends to scale its operating model beyond Hamilton and establish itself as a nationwide short-term accommodation operator, targeting a portfolio of at least 50 properties with a stretch goal exceeding 100. Future acquisitions will be funded through regular offers of new shares on the Catalist Public Market.

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Why Short-Term Rental?

Rather than relying on fixed weekly rent, the short stay approach allows for flexible, dynamic pricing that responds to corporate travel, events, and seasonal demand. It attracts both corporate and holiday guests, and gives us the ability to adapt to changing arket conditions. Vezstar targets properties capable of delivering 1.5 to 2.0 times the income of an equivalent long-term rental on conservative assumptions.

Vezstar can be thought of as a "virtual hotel". A singular brand offering a wide range of upscale to luxury residential properties that cater to families, couples, solo travellers, and business guests alike, without the constraints of occupying a single building.

Why Vezstar?

Vezstar is professionally managed through a centralised structure, already has real operating performance in place, and is taking a disciplined approach by building first in Hamilton before expanding further.

Every property must meet strict acquisition criteria before purchase including a minimum of three independent year-round demand drivers, proximity to established accommodation hubs, modern construction, and favourable pricing relative to STR revenue potential.

Properties are also deliberately targeted in geographically clustered zones, so cleaning, linen, maintenance and guest services can be centralised as the portfolio grows, keeping costs down and quality consistent.

Unlike the majority of STR accommodation in New Zealand, which is offered seasonally or part-year by individual owners, Vezstar operates on a continuous, professionally managed basis.

Operating Model

Vezstar operates through a structured and professional management framework designed to deliver consistent guest experience and operational efficiency.

This includes:

• Professional guest communication and booking management

• Established cleaning and maintenance systems

• Dynamic pricing tools to respond to market demand

• Active management of body corporate relationships

• Ongoing review management and platform optimisation

• Geographically clustered properties, enabling centralised servicing that lowers costs and improves consistency as the portfolio grows.

Our focus is on disciplined operations, strong guest satisfaction, and maintaining asset quality across the portfolio.

The Offer

Vezstar is offering investors Redeemable Preference Shares and Ordinary Shares in the Company.

Shares are offered in a fixed 1:1 ratio, so every $2.00 invested gives you one Ordinary Shares and one Redeemable Preference Shares. This offer is open to all investors. The two share classes serve different purposes and work together to provide both income and growth potential.

• Redeemable Preference Shares will receive a Preferred Dividend at the rate determined by the Board from time to time, initially 6.5% per annum. The Board currently intends to redeem the Redeemable Preference Shares on 28 February 2031, at the issue price of $1.00 per Share in accordance with the Constitution. Redemption is at Vezstar's option and subject to the Companies Act solvency test.

• Ordinary Shares carry no intended dividend but are designed to capture increases in the value of Vezstar and its Property Portfolio.

Vezstar will pay an annual Performance Fee to the Manager if the Total Shareholder Return (TSR) exceeds 8.0% per annum, aligning management incentives with investor outcomes.

Both share classes carry equal voting rights. Vezstar intends to hold quarterly Secondary Market Trading Events on the Catalist Public Market to enable Shareholders to trade Shares. Once issued, Shareholders may buy and sell Shares in any proportion they choose. There is no obligation to maintain a holding of both Ordinary Shares and Redeemable Preference Shares post issue.

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From the Directors

We established Vezstar with a long-term mindset.

Our focus is on disciplined growth, thoughtful capital deployment, and building a portfolio that is managed professionally and responsibly. We are committed to maintaining strong governance, clear communication with investors, and careful selection of properties aligned with our strategy.

We recognise that short-term rental income can vary over time, and we approach each acquisition with prudence and data-informed decision making.

Thank you for taking the time to review this opportunity. We encourage you to read the Information Memorandum carefully and consider how Vezstar may fit within your broader investment portfolio.

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