Mercury Announces Interest Rate for Capital Bond Offer

19 June 2019 - Mercury NZ Limited ("Mercury") confirmed today that, following the successful bookbuild for its offer of subordinated capital bonds ("Capital Bonds"), NZ$300 million of Capital Bonds have been allocated to New Zealand retail and institutional investors. The interest rate for the Capital Bonds to the First Reset Date (11 July 2024) will be 3.60% p.a., which is the minimum interest rate set out in the terms sheet for the Capital Bonds dated 12 June 2019. The margin has been set at 2.10% p.a. The Capital Bonds will be issued on 11 July 2019 and are expected to be quoted on the NZX Debt Market. As a result of the successful bookbuild process, Mercury will redeem its existing subordinated capital bonds which are quoted on the NZX Debt Market under the ticker code MCY010 ("MCY010 Bonds"). The updated terms sheet for the offer is attached. For further information please contact: BNZ - 0800 284 017 Deutsche Craigs - 0800 226 263 Forsyth Barr - 0800 367 227 ENDS For further information: Media - Craig Dowling 0272 105 337 Investors - Tim Thompson 0275 173 470 End CA:00336285 For:MCY Type:GENERAL Time:2019-06-19 14:20:06