MERCURY NZ LIMITED — Capital/Financing Update 2021

Mar 14, 2021

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

NEWS RELEASE

Mercury Cleansing Notice

15 March 2021

Mercury NZ Limited (Mercury) gives notice under clause 20(1)(a) of schedule 8 of the Financial Markets Conduct Regulations 2014 (Regulations) that it proposes to make an offer for the issue of unsecured, unsubordinated fixed rate green bonds (Green Bonds) in reliance upon the exclusion in clause 19 of schedule 1 of the Financial Markets Conduct Act 2013 (FMCA).

Except for the redemption date and interest rate, the Green Bonds will have identical rights, privileges, limitations and conditions as Mercury’s unsecured, unsubordinated green bonds maturing on 14 September 2027, which are quoted on the NZX Debt Market under the ticker code MCY030 (MCY030 Bonds).

The MCY030 Bonds have been continuously quoted on the NZX Debt Market over the preceding 3 months and trading in the MCY030 Bonds has not been suspended for a total of more than five trading days during that threemonth period.

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

• (a) the continuous disclosure obligations that apply to it in relation to the MCY030 Bonds; and

• (b) its financial reporting obligations (as defined in the Regulations).

As at the date of this notice, there is no information that is “excluded information” required to be disclosed for the purposes of the Regulations.

As at the date of this notice, there is no information that would be required to be disclosed under a continuous disclosure obligation or which would be excluded information for the purposes of the Regulations if the MCY030 Bonds had had the same redemption date or interest rate as the Green Bonds.

Without limiting the preceding paragraphs, Mercury notes that it is a 19.92% shareholder in Tilt Renewables Limited (Tilt) (NZX ticker code TLT). In its market announcement of 15 March 2021, Mercury confirmed that it had, together with the Powering Australian Renewables Fund (PowAR), entered into a Scheme Implementation Agreement (SIA) with Tilt. Under the terms of the transaction, PowAR will acquire all the shares of Tilt (including Mercury’s shares) for NZ$7.80 per share, and Mercury will acquire all of Tilt’s New Zealand operations, including development options, for an enterprise valuation of approximately NZ$770m. PowAR will retain ownership of all of Tilt’s Australian assets.

The Scheme remains subject to Court approval and other regulatory approvals.

The above information is not “excluded information” required to be disclosed by Mercury under the Regulations, and is not information that is required to be disclosed under a continuous disclosure obligation or which would be excluded information for the purposes of the Regulations if the MCY030 Bonds had had the same redemption date or interest rate as the Green Bonds.

ENDS

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

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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