NWF agrees a new Variable Volume Fixed Price Agreement

19 October 2020 NZX Announcement For immediate release NZ WINDFARMS LIMITED (NWF) AGREES A NEW VARIABLE VOLUME FIXED PRICE AGREEMENT (VVFPA) Variable Volume Fixed Price Agreement: The Company is pleased to announce it has agreed the terms of its second Variable Volume Fixed Price Agreement (VVFPA) for 100% of its production from 1 January 2021 to 31 December 2021. The identity of the counterparty and price are commercially sensitive and remain confidential. The agreement is subject to normal legal documentation and commercial terms. The Company will inform the market once legal documentation has been completed. NWF's Chairman, John Southworth, said he was pleased with the level of interest in the VVFPA renewal process with multiple parties submitting bids over varying tenures. Mr Southworth said the New Zealand Market has matured with respect to these types of contracts and expects them to become common place going forward. FY2021 EBITDAF Guidance: The Company will provide an FY2021 EBITDAF guidance range shortly after the legal documentation has been completed. For more information, contact: John Southworth Chairman DDI: +64 21 930 451 End CA:00361654 For:NWF Type:MKTUPDTE Time:2020-10-19 09:19:16