CHORUS LIMITED — Capital/Financing Update 2017

Oct 1, 2017

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Chorus Limited Level 10, 1 Willis Street P O Box 632 Wellington 6140 New Zealand

STOCK EXCHANGE ANNOUNCEMENT

Email: company.secretary@chorus.co.nz

2 October 2017

Cleansing notice for underwritten shares to be issued in connection with Chorus Dividend Reinvestment Plan

Chorus Limited (NZX: CNU, ASX: CNU) advised on 30 August 2017 that it planned to seek an underwriter of its final ordinary dividend reinvestment plan allotment.

Chorus has entered into an underwriting agreement with Macquarie Securities (NZ) Limited ( underwriter ), under which the underwriter will subscribe or procure subscriptions for shares not taken up under the dividend reinvestment plan ( DRP ) at the same price as issued under the DRP.

Pursuant to clause 20(1)(a) of Schedule 8 to the Financial Markets Conduct Regulations 2014 ( FMC Regulations ), the Financial Markets Conduct Act 2013 ( FMCA ), and ASIC Instrument 16-0140, Chorus states that:

1. Shares issued pursuant to the underwriting agreement are offered, and may be on-sold or transferred, in reliance upon the exclusion in clause 19 of Schedule 1 to the FMCA, and Chorus is giving this notice under clause 20(1)(a) of Schedule 8 to the FMC Regulations.

2. As at the date of this notice, Chorus is in compliance with the continuous disclosure obligations, and there is no “excluded information” (being information that has been excluded from a continuous disclosure notice in accordance with the NZX Main Board Listing Rules), as at the date of this notice.

3. As at the date of this notice, Chorus is in compliance with its financial reporting obligations.

4. The issue of shares pursuant to the underwriting agreement and any subsequent on-sale or transfer of such shares will have no effect on the control of Chorus.

5. This notice is being given under paragraph 708A(13) as notionally inserted by ASIC Instrument 16-0140.

ENDS

For further information:

Andrew Carroll Chief Financial Officer Phone: +64 4 896 4003 Mobile: +64 27 453 0001 Email: Andrew.Carroll@chorus.co.nz

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