MERCURY NZ LIMITED — Capital/Financing Update 2021

Mar 29, 2021

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Capital Change Notice

Section 1: Issuer information
Name of issuer	Mercury NZ Limited(”Mercury”)
NZX ticker code	MCY040
Class of financial product	Unsecured, unsubordinatedfixed rate green bonds (“GreenBonds”)
ISIN	NZMCYDG004C6
Currency	New Zealand Dollars ($)
Section 2: Capital change details
Number issued	200,000,000
Nominal value (if any)	$1.00
Issue price per security	$1.00
Nature of the payment (for example, cash or otherconsideration)	Cash
Amount paid up (if not in full)	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, theprincipal terms of Conversion (for example the Conversionprice and Conversion date and the ranking of the FinancialProduct in relation to other Classes of Financial Product) or theOption (for example, the exercise price and exercise date)	Not applicable
Reason for issue and specific authority for issue (the reasonfor change must be identified here)	The proceeds of this offer areintended to be earmarked tofinance or refinance new orexisting projects andexpenditures relating torenewable energy and othereligible projects in accordancewith Mercury’s GreenFinancing Framework.Specific authority for issue:Board Resolutions dated 15March 2021
Total number of Financial Products of the Class after the issue(excluding Treasury Stock) and the total number of FinancialProducts of the Class held as Treasury Stock after the issue.	200,000,000
In the case of an acquisition of shares, whether those sharesare to be held as treasury stock	Not applicable

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Specific authority for the issue, acquisition, or redemption,including a reference to the rule pursuant to which the issue,acquisition, or redemption is made	Specific authority for issue:Board Resolutions dated 15March 2021Rule 3.13.1
Terms or details of the issue, acquisition, or redemption (forexample: restrictions, escrow arrangements)	As set out in the terms sheetdated 19 March 2021 for theoffer of the Green Bonds
Date of issue	29 March 2021
Section 3: Authority for this announcement and contact person
Name of person authorised to make this announcement	William Meek, Chief FinancialOfficer
Contact person for this announcement	William Meek
Contact phone number	0275 173 470
Contact email address	investor@mercury.co.nz
Date of release through MAP	29 March 2021

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