Capital Change Notice – Green Bonds Allotment

Pursuant to NZX Listing Rule 3.13.1, Mercury NZ Limited announces that the following securities have been issued: Name of issuer: Mercury NZ Limited NZX ticker code: MCY030 Class of financial product: Unsecured, unsubordinated fixed rate green bonds ("Green Bonds") ISIN: NZMCYDG003C8 Currency: New Zealand Dollars ($) Number issued: 200,000,000 Nominal value (if any): $1.00 Issue price per security: $1.00 Nature of the payment (for example, cash or other consideration): Cash Amount paid up (if not in full): Fully paid up Percentage of total class of Financial Products issued (calculated on the number of Financial Products of the Class, excluding any Treasury Stock, in existence): 100% For an issue of Convertible Financial Products or Options, the principal terms of Conversion (for example the Conversion price and Conversion date and the ranking of the Financial Product in relation to other Classes of Financial Product) or the Option (for example, the exercise price and exercise date): Not applicable Reason for issue and specific authority for issue (the reason for change must be identified here): The proceeds from the issue of the Green Bonds are intended to be earmarked to finance or refinance new or existing projects and expenditures relating to Eligible Projects in accordance with Mercury's Green Financing Framework. Issue pursuant to Board Resolutions on 24 February 2020 and 17 August 2020 Total number of Financial Products of the Class after the issue (excluding Treasury Stock) and the total number of Financial Products of the Class held as Treasury Stock after the issue: 200,000,000 In the case of an acquisition of shares, whether those shares are to be held as treasury stock: Not applicable Specific authority for the issue, acquisition, or redemption, including a reference to the rule pursuant to which the issue, acquisition, or redemption is made: Board Resolutions on 24 February 2020 and 17 August 2020. Rule 3.13.1 Terms or details of the issue, acquisition, or redemption (for example: restrictions, escrow arrangements): As set out in the product disclosure statement dated 21 August 2020 for the offer of the Green Bonds Date of issue: 14/09/2020 Name of person authorised to make this announcement: William Meek, Chief Financial Officer Contact person for this announcement: William Meek Contact phone number: 0275 173 470 Contact email address: investor@mercury.co.nz Date of release through MAP: 14/09/2020 End CA:00359717 For:MCY Type:SECISSUE Time:2020-09-14 14:40:40