Spark welcomes clearance for Connexa mobile towers deal

Spark New Zealand Limited
ARBN 050 611 277 Spark City, 167 Victoria Street West, Private Bag 92028, Auckland, New Zealand




MARKET RELEASE – FRIDAY, 5 MAY 2023

Spark New Zealand welcomes Commerce
Commission approval received for Connexa to
acquire 2degrees’ tower assets

Following its announcement on 15 December 2022, Spark New Zealand (“Spark”) has today
confirmed that Connexa has been granted clearance by the Commerce Commission to acquire
the passive mobile telecommunications tower assets of 2degrees Mobile Limited and
2degrees Networks Limited (“2degrees”) from its owners Macquarie Asset Management and
Aware Super Limited.

Connexa is the independent mobile towers business in which Spark is a shareholder.

As confirmed at the time of announcement, Spark will not contribute equity to the acquisition,
which will result in its shareholding in Connexa being diluted from 30% to approximately 17%
(of the resulting larger business) following completion of the acquisition. Ontario Teachers’
Pension Plan will provide funding for the deal and its shareholding will increase to
approximately 83%. Spark will retain certain governance rights including Board
representation and will benefit from the value accretive expansion of the business.

Spark CEO Jolie Hodson says, “We welcome the Commerce Commission’s approval of the
acquisition, which we believe will support the faster deployment of new digital infrastructure
across Aotearoa through greater efficiencies created by infrastructure sharing.”

Completion is subject to approval from the Overseas Investment Office (OIO) which is well
advanced at this stage.

Authorised by:
Alexa Preston
Finance Lead Partner – Group Performance & Investor Relations

For more information contact
For media queries please contact:
Althea Lovell
Corporate Relations Partner
(64) 21 222 2992
althea.lovell@spark.co.nz

For investor queries please contact:
Alexa Preston
Finance Lead Partner – Group Performance
& Investor Relations
(64) 21 997 902
Alexa.Preston@spark.co.nz

About Spark
Spark is New Zealand's largest telecommunications and digital services company, with a
purpose to help all of New Zealand win big in a digital world. Spark provides mobile, broadband,
and digital services to millions of New Zealanders and thousands of New Zealand businesses.
www.sparknz.co.nz