Commerce Commission clearance for Trustpower acquisition

Mercury NZ Limited (Mercury) welcomes the Commerce Commission's decision to grant clearance for the acquisition of Trustpower Limited's (Trustpower) retail business. Trustpower shareholders approved the acquisition on 22 September. The transaction remains conditional, including on the implementation of the Tauranga Energy Consumer Trust Deed restructure. Completion of the transaction is expected in the first half of 2022. Background Mercury announced it had entered into binding agreements with Trustpower to acquire its retail business for NZ$441 million on 21 June this year. Once complete, the combined business will have approximately 780,000 connections across both energy and telco services. 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: Shannon Goldstone Head of Communications 027 210 5337 media@mercury.co.nz End CA:00379896 For:MCY Type:GENERAL Time:2021-09-28 08:58:42