Scobie Dickinson Ward, a substantial holder in Xref, has increased their stake through a series of on-market purchases.

Their voting power has moved from 8.54% to 9.64% of Xref's shares on issue, following purchases made between November 2025 and September 2026. The two most recent trades, both on 2 September 2026, accounted for the bulk of the increase, adding just over 2.28 million shares between them.

All 21,207,073 shares are held directly, registered through Forsyth Barr Custodians in New Zealand.

This is a routine substantial holder notice, the kind of filing that's required whenever a holder's stake crosses certain thresholds. It tells us that an existing substantial shareholder has been adding to their position over time, but it doesn't come with any commentary from Xref itself on the reasons behind the buying.

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