MERCURY NZ LIMITED — Capital/Financing Update 2022

Sep 29, 2022

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

NEWS RELEASE

Capital Change Notice Relating to DRP

30 September 2022

Mercury NZ Limited provides the attached Capital Change Notice under NZX Listing Rule 3.13.1. This Notice relates to the re-issue of 3,949,542 ordinary shares from treasury stock under Mercury’s Dividend Reinvestment Plan (DRP), announced on 22 February 2022, in respect of the FY2022 final dividend.

ENDS

Howard Thomas

General Counsel and Company Secretary Mercury NZ Limited

For investor relations queries, please contact: For media queries, please contact: William Meek Shannon Goldstone Chief Financial Officer Head of Communications 0275 173 470 027 210 5337 investor@mercury.co.nz media@mercury.co.nz

ABOUT MERCURY NZ LIMITED

We generate electricity from 100% renewable sources – hydro, geothermal and wind. We also sell utility services to our customers through our retail brands – Mercury, Trustpower and GLOBUG.

We’re listed on the New Zealand Stock Exchange and the Australian Stock Exchange with foreign exempt listed status. We’re listed on both exchanges with the ticker symbol ‘MCY’. The New Zealand Government (the Crown) holds a legislated 51% shareholding in the Company.

Visit us at: www.mercury.co.nz

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Capital Change Notice

Section 1: Issuer information
Name of issuer	Mercury NZ Limited
NZX ticker code	MCY
Class of financial product	Ordinary Shares
ISIN (If unknown, check on NZX website)	NZMRPE0001S2
Currency	NZD
Section 2: Capital change details
Number issued/acquired/redeemed	3,949,542 ordinary shares (from treasury stock)
Nominal value (if any)	Not applicable
Issue/acquisition/redemption price per security	$5.9013
Nature of the payment (for example, cash or other consideration)	Cash, including reinvestment of dividend proceeds pursuant to the Dividend Reinvestment Plan
Amount paid up (if not in full)	Fully paid ordinary shares
Percentage of total class of Financial Products issued/acquired/redeemed/ (calculated on the number of Financial Products of the Class, excluding any Treasury Stock, in existence)	0.29%
For an issue of Convertible Financial Products or Options, the principal terms of Conversion (for example the Conversion price and Conversion date and the ranking of the Financial Product in relation to other Classes of Financial Product) or the Option (for example, the exercise price and exercise date)	Not applicable
Reason for issue/acquisition/redemption and specific authority for issue/acquisition/redemption/ (the reason for change must be identified here)	Transfer from treasury stock to existing shareholders of 3,949,542 shares pursuant to the terms of the Dividend Reinvestment Plan in respect of the FY2022 final ordinary dividend payable on 30 September 2022
Total number of Financial Products of the Class after the issue/acquisition/redemption/Conversion (excluding Treasury Stock) and the total number of Financial Products of the Class held as Treasury Stock after the issue/acquisition/redemption.	1,386,007,962 ordinary shares 14,004,555 treasury stock
In the case of an acquisition of shares, whether those shares are to be held as treasury stock	Not applicable
Specific authority for the issue, acquisition, or redemption, including a reference to the rule pursuant to which the issue, acquisition, or redemption is made	Directors’ resolution dated 28 September 2022 pursuant to NZX Listing Rule 4.8.1.

Terms or details of the issue, acquisition, or redemption (for example: restrictions, escrow arrangements)	The shares transferred are quoted ordinary shares ranking equally with the existing ordinary shares on issue of MCY
Date of issue/acquisition/redemption	30 September 2022
Section 3: Authority for this announcement and contact person
Name of person authorised to make this announcement	Howard Thomas, Company Secretary
Contact person for this announcement	Howard Thomas
Contact phone number	09 308 8720
Contact email address	Howard.Thomas@mercury.co.nz
Date of release through MAP	30 September 2022