Infratil’s strategic review of its shareholding in Tilt

7 December 2020 - Mercury NZ Limited (Mercury) notes that Infratil Limited (Infratil) has announced a strategic review of its shareholding in Tilt Renewables Limited (Tilt). Mercury acknowledges that the Infratil initiated strategic review may result in an offer for all shares in Tilt. Mercury owns almost 20% of Tilt. There is currently no arrangement between Infratil and Mercury in relation to Infratil's strategic review. Mercury is very satisfied with the performance to-date of its investment in Tilt and has not reached a position on the future of that investment. The directors of Mercury will monitor developments closely. ENDS For further information: Investors - Tim Thompson 0275 173 470 Media - Craig Dowling 0272 105 337 End CA:00364534 For:MCY Type:GENERAL Time:2020-12-07 08:35:56