Chorus Limited (NS) — Capital/Financing Update 2020

Nov 20, 2020

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QUOTATION NOTICE: NZX DEBT MARKET CHORUS LIMITED BONDS (“CNU040”)

Company: Chorus Limited (“CNU”) Security Code: CNU040 ISIN: NZCNUDT005C1 Details of Issue: NZD $200 million of fixed rate, unsecured bonds ("Bonds") Opening Date: Tuesday, 17 November 2020 Closing Date: Friday, 20 November 2020 Maturity Date: Monday, 2 December 2030 Interest Rate: 2.51% per annum Interest Payment Dates: 2 March, 2 June, 2 September and 2 December in each year up to, and including, the Maturity Date. Date of First Interest Payment: Tuesday, 2 March 2021 First Interest Paid To: Holder on Record Date Record Date: 10 calendar days before the relevant payment date at 5:00pm (or, if that is not a business day, the immediately preceding business day) Minimum Application Amount: $5,000 and multiples of $1,000 thereafter Minimum Holding: $5,000 Minimum Transferable Amount: $1,000 Face Value: $1.00 per Bond Supervisor: The New Zealand Guardian Trust Company Limited Joint Lead Managers: ANZ Bank New Zealand Limited Craigs Investment Partners Limited Forsyth Barr Limited, and Westpac Banking Corporation (ABN 33 007 457 141) Trust Deed Dated: Master Trust Deed dated 30 March 2016 as amended and restated from time to time Supplemental Trust Deed dated 17 November 2020 Issue Date: Wednesday, 2 December 2020 Registrar: Computershare Investor Services Limited (RMLT)

NZX Limited, Level 1, NZX Centre, 11 Cable Street, PO Box 2959, Wellington 6140, New Zealand Tel +64 4 472 7599, www.nzx.com

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Settlement Status:

Expected Commencement of Trading on the NZX Debt Market:

NZCDC Settlement System Thursday, 3 December 2020

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Mark Peterson Chief Executive Officer NZX Limited

20 November 2020

NZX Limited, Level 1, NZX Centre, 11 Cable Street, PO Box 2959, Wellington 6140, New Zealand Tel +64 4 472 7599, www.nzx.com