FY2020 EBITDAF guidance revised to $510 million

FY2020 EBITDAF guidance revised to $510 million 18 October 2019 - Mercury announced today that it has revised its FY2020 EBITDAF guidance from $485 million to $510 million. This upgrade in guidance is due to: > changes to the composition of Mercury's electricity sales with an increased bias to higher yielding spot market and commercial and industrial (C&I) channels; > higher spot price expectations for FY2020 with actual prices to-date and ASX electricity futures in Auckland (Otahuhu grid reference point) indicating a spot price for the year in excess of $130/MWh; and > an expected 50 GWh increase in full year forecast hydro generation to 4,070 GWh due to wetter than average weather in the Taupo region. Guidance may change and remains subject to any material events, significant one-off expenses or other unforeseeable circumstances including changes in hydrological conditions. ENDS For further information: Media - Craig Dowling 0272 105 337 Investors - Tim Thompson 0275 173 470 End CA:00342811 For:MCY Type:MKTUPDTE Time:2019-10-18 08:30:56