Quotation Notice – Z Energy Limited Bonds (“ZEL060”)

QUOTATION NOTICE: NZX DEBT MARKET Z ENERGY LIMITED ("ZEL060") FIXED RATE BONDS Company: Z Energy Limited ("ZEL") Security Code: ZEL060 ISIN: NZZELD0060L4 Details of Issue: An offer of NZ$125 million of secured, unsubordinated, fixed rate bonds Opening Date: Monday, 20 August 2018 Closing Date: Friday, 24 August 2018 Interest Rate: 4.00% per annum Maturity Date: Tuesday, 3 September 2024 Interest Payment Dates: 3 March, 3 June, 3 September and 3 December of each year up to and including the Maturity Date Date of First Interest Payment: Monday, 3 December 2018 First Interest Paid To: Holder on Record Date Record Date: 10 calendar days prior to the relevant payment date or, if that date is not a business day, the immediately preceding business day Minimum Application Amount: $5,000 and in multiples of $1,000 thereafter Minimum Holding: $5,000 Face Value: $1.00 per Bond Organising Participant: Westpac Banking Corporation (ABN 33 007 457 141) (acting through its New Zealand branch) Joint Lead Managers: Deutsche Craigs Limited, Forsyth Barr Limited and Westpac Banking Corporation (ABN 33 007 457 141) (acting through its New Zealand branch) Trust Deed: Master Trust Deed dated 11 August 2010 (as amended from time to time) as modified by a Supplemental Trust Deed dated 20 August 2018 Issue Date: Monday, 3 September 2018 Registrar: Link Market Services Limited (LNKT) Settlement Status: NZCDC Settlement System Expected Commencement of Trading on the NZX Debt Market: Tuesday, 4 September 2018 Mark Peterson Chief Executive Officer NZX Limited 24 August 2018 End CA:00322763 For:ZEL Type:OFFER Time:2018-08-24 15:08:13