OIO consents to acquisition of Z

Z Energy Limited (NZX/ASX: ZEL) ("Z") has been advised by Ampol Limited ("Ampol") that the New Zealand Overseas Investment Office ("OIO") has granted Ampol consent to acquire 100% of Z, via Ampol Holdings NZ Limited (a wholly owned subsidiary of Ampol). Ampol's receipt of OIO consent is an important step in progressing Ampol's proposed acquisition of Z by way of a Scheme of Arrangement ("Scheme"). The remaining key condition is approval by the High Court. The application for Final Court Orders approving the Scheme is now scheduled to be considered before the presiding judge at the High Court in Wellington on Tuesday 26 April 2022 to allow for sufficient notice of the expected implementation of the Scheme to be provided to New Zealand Commerce Commission. If High Court approval is obtained, the Scheme is expected to be implemented in mid-May 2022. Z will release further announcements regarding dates in due course. Matt Hardwick Corporate Affairs Manager matt.hardwick@z.co.nz M: +64 (0)27 787 4688 End CA:00390487 For:ZEL Type:GENERAL Time:2022-04-12 13:09:46