Quotation Notice – Transpower New Zealand Ltd (“TRP040”)

QUOTATION NOTICE: NZX DEBT MARKET TRANSPOWER NEW ZEALAND LIMITED ("TRP040") BONDS Issuer: Transpower New Zealand Limited ("TRP") Security Code: TRP040 ISIN: NZTRPD0040L2 Details of Issue: An offer of NZ$75,000,000 of unsubordinated, unsecured fixed rate bonds (with the ability to accept oversubscriptions of up to NZ$25,000,000 at Transpower's discretion) Opening Date: Wednesday, 8 March 2017 Closing Date: 2:00pm on Friday, 10 March 2017 Interest Rate: 4.069% Maturity Date: Friday, 16 September 2022 Issue/Allotment Date: Thursday, 16 March 2017 Interest Payment Dates: 16 September and 16 March in each year up to and including the Maturity Date Date of First Interest Payment: 16 September 2017 First Interest Paid To: Holders of Bonds as at the relevant Record Date Record Date: 10 calendar days before the relevant payment date (or, if that is not a business day, the immediately preceding business day) Minimum Application Amount: $5,000 and multiples of $1,000 thereafter Minimum Holding: $5,000 Face Value: $1.00 per bond Supervisor: The New Zealand Guardian Trust Company Limited Lead Manager: ANZ Bank New Zealand Limited Trust Deed Dated: Master Trust Deed dated 18 March 2011 (as amended from time to time) as modified and supplemented by Supplemental Trust Deed (no.5) dated 23 February 2017 Registrar: Link Market Services Limited ("LNKT") Settlement Status: NZCDC Settlement System Expected Commencement of Trading on the NZX Debt Market: Friday, 17 March 2017 Mark Peterson Interim Chief Executive Officer NZX Limited 10 March 2017 End CA:00298130 For:NZXR Type:LISTING Time:2017-03-10 16:23:27