Capital Change Notice – Capital Bonds Allotment

Pursuant to NZX Listing Rule 3.13.1, Mercury NZ Limited announces that the following securities have been issued: Section 1 - Issuer information Name of issuer: Mercury NZ Limited ("Mercury") NZX ticker code: MCY050 Class of financial product: Unsecured, subordinated interest bearing capital bonds ("Capital Bonds") ISIN: NZMCYDG005C3 Currency: New Zealand Dollars ($) Section 2 - Capital change details Number issued: 250,000,000 Nominal value (if any): $1.00 Issue price per security: $1.00 Nature of the payment (for example, cash or other consideration): Cash Amount paid up (if not in full): Fully paid up Percentage of total class of Financial Products issued (calculated on the number of Financial Products of the Class, excluding any Treasury Stock, in existence): 100% For an issue of Convertible Financial Products or Options, the principal terms of Conversion (for example the Conversion price and Conversion date and the ranking of the Financial Product in relation to other Classes of Financial Product) or the Option (for example, the exercise price and exercise date): Not applicable Reason for issue and specific authority for issue (the reason for change must be identified here): The proceeds of this Offer are intended to be used to refinance drawn debt relating to the acquisition of Trustpower Limited's retail business and for general corporate purposes. Specific authority for issue: Board Resolutions dated 8 February and 22 April 2022 Total number of Financial Products of the Class after the issue (excluding Treasury Stock) and the total number of Financial Products of the Class held as Treasury Stock after the issue: 250,000,000 In the case of an acquisition of shares, whether those shares are to be held as treasury stock: Not applicable Specific authority for the issue, acquisition, or redemption, including a reference to the rule pursuant to which the issue, acquisition, or redemption is made: Specific authority for issue - Board Resolutions dated 8 February and 22 April 2022. Rule 3.13.1 Terms or details of the issue, acquisition, or redemption (for example: restrictions, escrow arrangements): As set out in the terms sheet dated 5 May 2022 for the offer of the Capital Bonds Date of issue: 13 May 2022 Section 3 - Authority for this announcement and contact person Name of person authorised to make this announcement: William Meek, Chief Financial Officer Contact person for this announcement: William Meek Contact phone number: 0275 173 470 Contact email address: investor@mercury.co.nz Date of release through MAP: 13 May 2022 End CA:00392017 For:MCY Type:SECISSUE Time:2022-05-13 08:59:04