Mercury considers capital bond offer

Mercury considers capital bond offer
26 April 2022 – Mercury NZ Limited (Mercury) is considering making an offer (Offer) of up to $200 million (with the ability to
accept oversubscriptions of up to an additional $50 million at Mercury’s discretion) of unsecured, subordinated capital bonds
(Capital Bonds) to institutional investors and New Zealand retail investors.

It is expected that full details of the Offer will be released in the week commencing 2 May 2022, when the offer is expected to
open.

The Capital Bonds, if issued, are expected to be assigned an issue credit rating of BB+ by S&P Global Ratings.

The proceeds of the Capital Bonds are intended to be used to refinance drawn debt relating to the Trustpower Retail acquisition
and for general corporate purposes.

Mercury has appointed Forsyth Barr Limited as Arranger and Joint Lead Manager, and Bank of New Zealand and Craigs
Investment Partners as Joint Lead Managers in relation to the Offer.

There will be no public pool for the Offer, with all of the Capital Bonds to be reserved for clients of the Joint Lead Managers,
NZX participants and other financial intermediaries.

Investors should contact a Joint Lead Manager or their usual financial adviser for further details on how they may be able to
acquire Capital Bonds.

No money is currently being sought and no Capital Bonds can be applied for or acquired until the Offer opens. If the proposed
Offer is made, it will be in accordance with the Financial Markets Conduct Act 2013 as an offer of debt securities of the same
class as Mercury’s existing capital bonds quoted on the NZX Debt Market under the ticker code MCY020. The Capital Bonds
are expected to be quoted on the NZX Debt Market.

Joint Lead Managers





ENDS
Howard Thomas
General Counsel and Company Secretary
Mercury NZ Limited
For investor relations queries, please contact:
William Meek
Chief Financial Officer
0275 173 470
For media queries, please contact:
Shannon Goldstone
Head of Communications
Media phone: 027 210 5337

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
STOCK EXCHANGE LISTINGS: NEW ZEALAND (MCY) / AUSTRALIA (MCY)

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