Chorus Limited (NS) — Earnings Release 2020

Jul 9, 2020

Chorus Limited Level 10, 1 Willis Street P O Box 632 Wellington New Zealand

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Email: company.secretary@chorus.co.nz

STOCK EXCHANGE ANNOUNCEMENT

10 July 2020

Q4 FY20 overview

COVID-19 constrains Q4 fibre growth

Lockdown period had a significant impact on Q4 fibre activity and uptake

1. restrictions on non-essential activity reduced fibre installations by ~15k and halted UFB2 rollout

2. reduced fibre installations and constraints on door to door marketing saw Q4 fibre connection growth drop to 27k from 32k in Q3

3. Chorus provided $5 million financial support to service companies to assist with reduced field force workflow/revenue and help retain workforce for rapid resumption of work in Alert Level 3

Total fixed line connections declined by 4k to 1,415,000* (Q3 FY20: -13k) Broadband connections returned to Q2 level of 1,206,000, with 4k growth* (Q3 FY20:-4k)

*totals exclude 10,000 free broadband connections provided to student households

Authorised by: JB Rousselot Chief Executive Officer

ENDS

For further information:

Steve Pettigrew Head of External Communications Mobile +64 (27) 258 6257 Email: Steve.Pettigrew@chorus.co.nz

Brett Jackson Investor Relations Manager Phone: +64 4 896 4039 Mobile: +64 (27) 488 7808 Email: Brett.Jackson@chorus.co.nz