Vector Limited (NS) — Capital/Financing Update 2017

Oct 30, 2017

MARKET RELEASE 30 October 2017

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VECTOR PROVIDES AUSTRALIAN SMART METERING UPDATE

At its recent annual results briefing on 24 August, Vector advised the success of its Australian metering programme was dependent on the outcome of various retailer procurement processes being run for competitive metering after the Power of Choice reforms come into effect on 1 December 2017.

Vector is today announcing it has executed a contract to provide metering services to EnergyAustralia with an initial three year deployment period that will commence before the end of 2017. Vector Limited Group Chief Executive, Simon Mackenzie, said, “We’re excited to be working with EnergyAustralia as part of our long-term commitment to the Australian market." Mr Mackenzie said, “We pride ourselves on our proven and innovative delivery of advanced metering services in New Zealand and Australia, alongside our huge focus on health and safety. Vector is looking forward to being part of EnergyAustralia’s new Power of Choice journey and supporting their aim to provide a world-class customer experience.”

Vector now expects to be deploying advanced meters on behalf of at least four leading electricity retailers in 2018 across New South Wales, Queensland, South Australia and the ACT.

About Vector

Vector is the country’s largest distributor of electricity and gas, owning the lines and pipes to households and businesses across Auckland. It is working innovatively to create a smarter and more affordable energy future. Vector is listed on the New Zealand Stock Exchange with ticker symbol VCT. Our majority shareholder, with voting rights of 75.4%, is Entrust (formerly Auckland Energy Consumer Trust).

For further information, visit www.vector.co.nz

MEDIA QUERIES: Richard Llewellyn External Relations Mobile 027 523 2362

ANALYST QUERIES: Dan Molloy Chief Financial Officer 64-9-213-5179 Mobile 021-441-311

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Contact

MEDIA RELEASE

30 October 2017

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