After logging into Catalist, your Dashboard shows your PFL holdings, approximate value, and transaction history. Use tabs like Portfolio, Orders/Trading, and Transactions to review and manage your activity.

At the top of the Portfolio tab you will see metrics related to your overall portfolio of investments on Catalist.

Scroll down and expand individual investments to reveal the performance metrics specific to each investment.

If you wish to transfer your shares (as opposed to selling them in a Catalist auction), for example, to a family member or trust, you may do so by contacting Catalist directly.

• Both parties must complete Catalist’s “Off Market Transfer Form”.
• It is quickest and easiest to complete an off-market share transfer if both parties already have Catalist accounts and have completed all necessary identity checks to activate their accounts.
• Once approved, the new shareholder’s name will be entered into the share register, and they will enjoy the same rights as other PFL shareholders.

Catalist hosts PFL’s investment offers, share registry, and periodic trading auctions.

The following is a step‑by‑step guide to creating a Catalist account:

1. Go to Catalist and select “Create Account”.
2. Complete identity verification (passport/driver licence and proof of address) to satisfy our Anti-money Laundering customer due diligence requirements.
3. Confirm your investor status, if required (e.g., eligible/wholesale).
4. Once Catalist has verified your account, go to the PFL Offer Page, click “Invest.” You will be prompted to read the current offer documentation and input how much you would like to invest. There is typically a minimum investment amount stated, and all investments need to divide evenly by the offer price per share, as we only issue whole shares.
5. Click “Submit” and you will be emailed a code to verify your investment followed by payment instructions.
6. Once payments are received, your PFL shares are issued to you, along with a transaction statement, both of which can be viewed from your Catalist Dashboard.

PFL aims to hold 3-4 share trading windows each year on Catalist Markets (a recognised exchange” under New Zealand law) to provide shareholder liquidity.

PFL notifies existing shareholders of upcoming share trading auctions via email.

PFL share auctions run for a defined period and close at a single clearing price. During the open window, you can place bids (to buy) or offers (to sell) and amend or cancel them. Catalist displays an indicative clearing price based on total supply and demand. Near the end of the open window, Catalist may extend and/or randomise the close timing to ensure fairness.

Orders not cancelled by the end of the open window are binding if successful. After a short pre‑close enhancement phase, trades settle within a few business days. Because auctions reflect supply/demand, prices can trade at a discount or premium to PFL’s investor Net Asset Value per share.

From December 2025, PFL will establish a “Treasury Stock Programme” enabling the fund to acquire its own shares during trading windows. Treasury stock-supported trading is intended to increase the trading liquidity of PFL shares, reduce the gap between the traded price of shares and PFL’s underlying intrinsic value per share, and to increase the value of remaining shares by purchasing shares at below their intrinsic value.

Learn more on Catalist’s Marketplace Mechanics.