CHORUS LIMITED — Capital/Financing Update 2014

Apr 10, 2014

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Chorus Limited Level 10, 1 Willis Street P O Box 632 Wellington 6140 New Zealand Email: company.secretary@chorus.co.nz

STOCK EXCHANGE ANNOUNCEMENT

11 April 2014

Suspension of DRP

Upcoming ASX Listing Rule changes would require Chorus to amend its current Dividend Reinvestment Plan (DRP) Offer Document. The Chorus Board has decided to suspend the current DRP rather than incur the costs of amending the Offer Document at this time.

This decision follows the 24 February interim result announcement that Chorus had elected not to pay an interim dividend and that “capital management decisions will be communicated when there is sufficient certainty around the outcome of Chorus initiatives, CFH discussions, and regulatory reviews.”

Chorus does not, at this point, have sufficient certainty in respect of those outcomes to announce any capital management decisions and deferring any unnecessary DRP cost is therefore a logical step.

ENDS

For further information:

Ian Bonnar Corporate Affairs Manager Mobile: +64 (27) 215 7564 Email: ian.bonnar@chorus.co.nz

Brett Jackson Investor Relations Manager Mobile: +64 (27) 488 7808 Email: brett.jackson@chorus.co.nz