MERCURY NZ LIMITED — Capital/Financing Update 2020

Sep 23, 2020

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STOCK EXCHANGE LISTINGS: NZX (MCY) / ASX (MCY)

NEWS RELEASE

FY2021 EBITDAF guidance revised to $505 million

24 September 2020 – Mercury announced today that it has revised its FY2021 EBITDAF guidance from $515 million to $505 million. This reflects an expected 200 GWh decrease in full year hydro generation to 3,700 GWh due to dry weather conditions in the Taupo catchment in FY2021 to date.

Guidance may change and remains subject to any material events, significant one-off expenses or other unforeseen circumstances including changes to hydrological conditions.

ENDS

Howard Thomas General Counsel and Company Secretary Mercury NZ Limited

For investor relations queries, please contact: For media queries, please contact: William Meek Craig Dowling Chief Financial Officer Head of Communications 0275 173 470 0272 105 337

ABOUT MERCURY NZ LIMITED

Mercury’s mission is energy freedom. Our purpose is to inspire New Zealanders to enjoy energy in more wonderful ways and our goal is to be New Zealand’s leading energy brand. We focus on our customers, our people, our partners and our country; maintain a long-term view of sustainability; and promote wonderful choices. Mercury is energy made wonderful. Visit us at: www.mercury.co.nz

PHONE:[+ 64 9 308 8200 ] FAX: + 64 9 308 8209

The Mercury Building, 33 Broadway, Newmarket 1023 PO Box 90399, Auckland 1142 New Zealand

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mercury.co.nz