MERCURY NZ LIMITED — Capital/Financing Update 2021

Mar 7, 2021

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

NEWS RELEASE

Mercury considers green bond offer

8 March 2021

Mercury NZ Limited (Mercury) is considering making an offer (Offer) of up to $200 million (with the ability to accept up to an additional $50 million of oversubscriptions at Mercury’s discretion) of 5.5 year unsecured, unsubordinated fixed rate green bonds (Green Bonds) to institutional investors and New Zealand retail investors.

It is expected that full details of the Offer will be released in the week commencing 15 March 2021, when the Offer is expected to open.

Mercury has a corporate credit rating from S&P Global Ratings of BBB+ (stable outlook). The Green Bonds are expected to be assigned a credit rating of BBB+.

The proceeds of the Green Bonds are intended to be earmarked to finance and refinance Eligible Projects in accordance with Mercury’s Green Financing Framework dated August 2020.

In relation to the Offer, Mercury has appointed Westpac Banking Corporation (ABN 33 007 457 141) (acting through its New Zealand branch) (Westpac) as Arranger and Green Bond Co-ordinator, and ANZ Bank New Zealand Limited, Craigs Investment Partners Limited, Forsyth Barr Limited and Westpac as Joint Lead Managers.

There is no public pool for the Offer, with all of the Green Bonds being reserved for clients of the Joint Lead Managers, NZX participants and other approved financial intermediaries.

Investors can register their interest by contacting a Joint Lead Manager or their usual financial adviser.

This Offer is being made in accordance with the Financial Markets Conduct Act 2013 and the Green Bonds are expected to be quoted on the NZX Debt Market.

Arranger, Green Bond Co-ordinator for this offer and Joint Lead Manager

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0800 772 142

Joint Lead Managers

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0800 269 476

0800 226 263

0800 367 227

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

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

mercury.co.nz

ENDS

Howard Thomas General Counsel and Company Secretary Mercury NZ Limited For investor relations queries, please contact: For media queries, please contact: Tim Thompson Craig Dowling Head of Treasury and Investor Relations 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

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