NZX Limited — Board/Management Information 2021

Aug 25, 2021

NEWS RELEASE

26 August 2021

NZX senior leadership changes

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NZX has the ambition to be a diversified financial markets infrastructure and services business. Our purpose is to deliver enduring markets, capital pathways and investment opportunities that help deliver economic success for New Zealand.

We see opportunity to deliver additional value for our business, and support the development of New Zealand’s capital markets more generally, by leveraging further the products, services and capability we have across our business areas.

To deliver on this opportunity, NZX Chief Executive, Mark Peterson has completed a review of the NZX Senior Leadership Team and has made several adjustments to better position the business to deliver on its strategic ambitions.

Mr Peterson said: “I am very proud of the calibre and experience of the Senior Leadership Team we have attracted to NZX. The composition of the team supports strong alignment of focus and expertise toward serving new and existing customers; sales and origination; relationship management with the market; and creating market growth”. The team now comprises the following roles:

• Sarah Minhinnick – General Manager Capital Markets Origination

• Jeremy Anderson – General Manager Capital Markets Development

• Felicity Gibson – General Manager Market Operations

• Robert Douglas – Chief Technology Officer

• Graham Law – Chief Financial and Corporate Officer

• Hamish Macdonald – Chief Strategic Delivery Officer

• Hugh Stevens – Chief Executive, Smartshares

• Lisa Turnbull – Chief Executive, NZX Wealth Technologies

• Joost Van Amelsfort – Chief Executive, NZ RegCo

Alongside these direct reports to the NZX Chief Executive, Lara Robertson has been appointed General Manager People and Sustainability reporting to Graham Law.

“In addition, NZX now has dedicated executive leadership focusing on high value strategic opportunities, which includes growing our dairy and environmental markets,” Mr Peterson said.

“The creation of an operations centre of excellence across capital markets, electricity and carbon will support reliable and efficient market operations. We have also been mindful to deliver a stronger focus on risk management, build a diverse group of perspectives and skills, and create possible succession opportunities for the future.”

No changes have been made to the leadership of NZ RegCo, Smartshares or NZX Wealth Technologies.

As previously announced, the Board has extended the term of Mr Peterson’s employment to April 2024. In tandem with the establishment of the New Zealand Capital Markets Centre as NZX’s new Auckland office, Mr Peterson will be based out of Auckland in the coming months.

In connection with the extension of Mr Peterson's employment, a further tranche of performance rights will be issued to Mr Peterson under NZX's Long Term Incentive Plan. Vesting of the performance rights is dependent on NZX meeting a performance hurdle in respect of total shareholder return (TSR) growth, and on Mr Peterson remaining an employee of NZX for the duration of the vesting period. There is a cap on the maximum value of performance rights that can vest.

NZX Chair, James Miller, commented: “The long-term incentives granted to Mr Peterson are aligned to the delivery of NZX’s strategy and to ensure the company is committed to generating long-term value for its shareholders. The information on the CEO's remuneration, including his base salary and short-term incentives, will be included in NZX's annual reports”.

A capital change notice under NZX Listing Rule 3.13.1 will be released upon issue of the performance rights.

NZX also advises that given the changes to the Senior Leadership Team, that it has reassessed who are senior managers of NZX for the purposes of the Financial Markets Conduct Act 2013 (FMCA) and NZX Listing Rule 3.20.1. Effective immediately the company will treat its NZX Chief Executive and Chief Financial and Corporate Officer as senior managers. The persons holding these positions will disclose relevant interests and dealings in relevant interests in accordance with section 297 of the FMCA.

ENDS.

For further information, please contact:

Media – David Glendining 027 301 9248 Investors – Graham Law 029 494 2223

About NZX

For more than 150 years we have been creating opportunities for Kiwis to grow their personal wealth and helping businesses prosper. As New Zealand’s Exchange, we are proud of our record in supporting the growth and global ambitions of local companies.

NZX operates New Zealand's equity, debt, funds, derivatives and energy markets. To support the growth of our markets, we provide trading, clearing, settlement, depository and data services for our customers. We also own Smartshares, New Zealand's only issuer of listed Exchange Traded Funds (ETFs), and KiwiSaver provider SuperLife. NZX Wealth Technologies is a 100%-owned subsidiary delivering rich online platform functionality to enable New Zealand investment advisors and providers to efficiently manage, trade and administer their client's assets. Learn more about us at: www.nzx.com