BNZ announces amendments to Note Deed Poll

Exchange announcement 2 August 2018 BNZ announces amendments to Note Deed Poll Bank of New Zealand (BNZ) gives notice of amendments to the note deed poll dated 14 November 2013 (as amended and restated on 12 June 2017) (Deed Poll) under which BNZ may issue notes (Notes) from time to time. BNZ currently has three series of Notes issued under the Deed Poll quoted on the NZX Debt Market (NZX ticker codes BNZ100, BNZ110 and BNZ120). BNZ has made the amendments to: (a) update the Deed Poll to reflect the upcoming removal of the FINEWISS functionality from NZClear; (b) align with market practice the basis for determining the record date for payments under fixed rate Notes; and (c) make other minor amendments, including simplifying the wording of the "Interest Payment Date" definition in the terms and conditions of the Notes. The amendments apply to all Notes issued under the Deed Poll before, on or after the date of the amendments. BNZ has determined that the amendments are of a technical or administrative nature and/or not materially prejudicial to the interests of holders of the Notes as a whole. An investor may obtain a copy of the Deed Poll (as amended), free of charge, on request, from: Computershare Investor Services Limited Level 2, 159 Hurstmere Road Takapuna Auckland 0622 Private Bag 92119 Auckland 1142 Ends For further information, please contact: Neil Bradley, Treasurer, BNZ T. 09 976 5020, M. 021 968 944, E. Neil_Bradley@bnz.co.nz End CA:00321631 For:BNZ Type:ADMIN Time:2018-08-02 15:18:43