Southern Cross NEXT transaction complete

MARKET RELEASE 3 October 2019 Southern Cross NEXT transaction complete Subsequent to its announcement on 1 October 2019, Spark New Zealand confirms that the Southern Cross NEXT transaction has now completed following the satisfaction of all conditions. As a result: o Telstra is now a 25% shareholder of the Southern Cross Cable Network (Southern Cross) and an anchor customer of the Southern Cross NEXT undersea data cable (SX NEXT); and o The build of SX NEXT will commence As a consequence of Telstra becoming a Southern Cross shareholder, Spark's shareholding in Southern Cross will be diluted from 50% to approximately 40%. - ENDS - For media queries, please contact: Andrew Pirie Lead, Corporate Relations +64 (0) 27 555 0275 For investor relations queries, please contact: Dean Werder Finance Lead Partner, Product and Performance +64 (0) 27 259 7176 End CA:00342138 For:SPK Type:GENERAL Time:2019-10-03 17:06:28