FY2021 EBITDAF guidance revised to $520 million

23 February 2021 - Mercury announced today that it has revised its FY2021 EBITDAF guidance from $535 million to $520 million. This reflects an expected 100 GWh decrease in full year hydro generation to 3,800 GWh due to dry weather in the Taupo catchment since mid-January and ASX electricity futures indicating wholesale prices will remain elevated for the remainder of the financial year. FY2021 stay-in-business capital expenditure guidance has also been revised from $80 million to $70 million with the deferral of non-urgent investment. FY2021 ordinary dividend guidance remains at 17.0 cents per share. Guidance may change and remains subject to any material events, significant one-off expenses or other unforeseen circumstances including changes to hydrological conditions. ENDS Howard Thomas General Counsel and Company Secretary Mercury NZ Limited For investor relations queries, please contact: Tim Thompson Head of Treasury and Investor Relations 0275 173 470 For media queries, please contact: Craig Dowling Head of Communications 0272 105 337 End CA:00368000 For:MCY Type:MKTUPDTE Time:2021-02-23 08:32:15