Kiwibank Limited — Capital/Financing Update 2021

Nov 3, 2021

Kiwibank Limited Level 9, 20 Customhouse Quay, Private Bag 39888, Wellington 5045

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NZX Release

3 November 2021

Capital Change Notice under NZX Listing Rule 3.13.1 – Issue of Perpetual Preference Shares

Under Listing Rule 3.13.1 Kiwibank Limited advises that it has issued Perpetual Preference Shares as follows:

Section 1: Issuer information

Section 1: Issuer information	Section 1: Issuer information
Name of issuer	Kiwibank Limited
NZX ticker code	KWBHA
Class of financial product	Perpetual preference shares(redeemable, non-voting) (DebtSecurity for the purposes of theNZX Listing Rules)
ISIN (If unknown, check on NZX website)	NZKIWD0001S3
Currency	NZD
Section 2: Capital change details
Number issued	250,000,000
Nominal value (if any)	$250,000,000
Issue price per security	$1.00
Nature of the payment (for example, cash or otherconsideration)	Cash
Amount paid up (if not in full)	N/A – fully paid up
Percentage of total class of Financial Products issued(calculated on the number of Financial Products of the Class,excluding any Treasury Stock, in existence)	100%
For an issue of Convertible Financial Products or Options,the principal terms of Conversion (for example theConversion price and Conversion date and the ranking of theFinancial Product in relation to other Classes of FinancialProduct) or the Option (for example, the exercise price andexercise date)	N/A
Reason for issue and specific authority for issue (the reasonfor change must be identified here)	Reason for issue: The PerpetualPreference Shares will beAdditional Tier 1 Capital forKiwibank and will help meet itsregulatory capital requirements.Specific authority for issue:Board resolution dated 29September 2021

Total number of Financial Products of the Class after the	Total number of Financial Products of the Class after the	250,000,000
issue (excluding Treasury Stock) and the total number ofFinancial Products of the Class held as Treasury Stock after
the issue.
		Nil Treasury Stock
In the case of an acquisition of shares, whether those shares		N/A
are to be held as treasury stock
Specific authority for the issue including a reference to the		Board resolution dated 29
rule pursuant to which the issue is made		September 2021
Terms or details of the issue (for example: restrictions,		As set out in the Terms of the
escrow arrangements)		Perpetual Preference Shares
		and the Product Disclosure
		Statement dated 8 October 2021
Date of issue		2/11/2021
Section 3: Authority for this announcement and contact person
Name of person authorised to make this announcement		Edward McElrea
Contact person for this announcement		Edward McElrea
Contact phone number		04 439 6963
Contact email address		edward.mcelrea@kiwibank.co.nz
Date of release through MAP		3/11/2021