FY2023 EBITDAF Guidance revised up by $40m

21 October 2022 - Mercury announced today that it has revised its FY2023 EBITDAF guidance up $40m to $620m. Normalised EBITDAF also increases by $40m to $795m after adjusting for the non-cash unwind of acquired swaps relating to the Norske Skog, Tilt and Trustpower transactions. The lift in performance is largely due to higher FY23 hydro generation, now forecast at 4,500GWh (previously 4,350GWh), higher yields in commercial industrial sales and improved trading results. 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: William Meek Chief Financial Officer 0275 173 470 investor@mercury.co.nz For media queries, please contact: Shannon Goldstone Head of Communications 027 210 5337 media@mercury.co.nz End CA:00400948 For:MCY Type:MKTUPDTE Time:2022-10-21 08:30:35