Update and Withdrawal of Guidance

Vector confirms that a number of its businesses are considered to be essential businesses and continue to operate under COVID-19 Alert Level 4, these include: o Electricity distribution to Auckland customers o Natural gas distribution to 110,000 Auckland homes o Fibre network services o LPG and natural gas sales and distribution (including the nationwide distribution of bottled LPG gas) o Metering fault resolution, safety disconnections and reconnections Vector also confirms that it will be paying the 8.25 cents per share interim dividend as scheduled on 8 April 2020. Given the fluid nature and inherent uncertainty of the COVID-19 situation, the Board has determined that it is prudent to withdraw the FY20 earnings guidance and place this under review until such time that the impact on earnings can be properly assessed. ENDS Investor contact Jason Hollingworth, Chief Financial Officer, Vector Jason.hollingworth@vector.co.nz, 021 312 928 Media contact Sarah Williams, Chief Marketing and Communications Officer, Vector Sarah.williams@vector.co.nz, 021 928 125 About Vector Vector is New Zealand's leading network infrastructure company which runs a portfolio of businesses delivering energy and communication services to more than one million homes and commercial customers across the country. Vector is leading the country in creating a new energy future for customers and continues to grow and invest in the growth of Auckland, and in a wide range of activities and locations. Vector is listed on the New Zealand Stock Exchange with ticker symbol VCT. Our majority shareholder, with voting rights of 75.1%, is Entrust. For further information, visit www.vector.co.nz End CA:00350984 For:VCT Type:MKTUPDTE Time:2020-03-31 11:55:29