CHORUS LIMITED — Capital/Financing Update 2016

Mar 29, 2016

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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

30 March 2016

Cleansing Notice

Chorus Limited (Chorus) gives notice under regulation 49G(2)(e) of the Financial Markets Conduct Regulations 2014 (Regulations) that it proposes to make an offer for the issue of fixed rate bonds (Bonds).

The offer of the Bonds is being made using short-form disclosure and Chorus is producing a simplified Product Disclosure Statement (PDS).

Chorus is permitted to produce a simplified PDS under Regulation 49G as the Bonds will rank in priority to its existing ordinary shares quoted on the NZX Main Board under ticker code CNU. Chorus’ shares have been continuously quoted on the NZX Main Board over the preceding three months and trading in its shares has not been suspended for a total of more than five trading days during that three month period.

As at the date of this notice, Chorus is in compliance with:

• a) the continuous disclosure obligations that apply in relation to its existing ordinary shares quoted on the NZX Main Board; and

• b) its financial reporting obligations (as defined in regulation 49H(7) of the Regulations).

As at the date of this notice, there is no information that is “excluded information” for the purposes of regulation 49H(2)(e) of the Regulations.

ENDS

For further information:

Andrew Hopkinson Brett Jackson Treasurer Investor Relations Manager Phone: +64 4 896 4014 Phone: +64 4 896 4039 Mobile: +64 (27) 249 5678 Mobile: +64 (27) 488 7808 Email: Andrew.hopkinson@chorus.co.nz Email: Brett.Jackson@chorus.co.nz