FY2022 EBITDAF Guidance revised to $570 million

28 January 2022 - Mercury announced today that it has revised its FY2022 EBITDAF guidance from $590 million to $570 million. This reflects an expected 150 GWh decrease in full year hydro generation to 3,750 GWh due to dry weather in the Taupo catchment since the end of Q1-FY2022. Guidance does not include the impacts of: the contribution of the Trustpower retail business from completion of that transaction; acquisition accounting for the Tilt and Trustpower acquisitions; and a likely interim insurance payment arising from the unplanned outage of the Kawerau geothermal power station in June / July 2021. The impacts of these adjustments are yet to be finalised and Mercury expects to provide an update with our FY2022 Interim Results announcement on 22 February 2022. 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: Shannon Goldstone Head of Communications Media phone: 027 210 5337 End CA:00386509 For:MCY Type:MKTUPDTE Time:2022-01-28 08:30:42