Changes to Kainga Ora financing arrangement

Today the joint Ministers of Finance and Housing announced Kainga Ora will no longer issue Wellbeing Bonds in the New Zealand debt capital market. Kainga Ora will finance its build programme directly from the Crown via New Zealand Debt Management. Kainga Ora, issuing under its subsidiary Housing New Zealand Limited, returned in 2018 to the New Zealand debt capital market, and since then have successfully raised close to $8.0 billion of Wellbeing Bonds through its sustainability financing programme. Kainga Ora has been a leader in New Zealand sustainable finance and a multi award-winning issuer. The change in source of financing will not have implications for the delivery of homes under the current Public Housing Plan. Kainga Ora remains committed to delivering warm, dry homes to New Zealanders in need. Kainga Ora will continue to develop and deliver its sustainability programme, and provide required impact reporting under its Sustainable Finance Framework. Kainga Ora would like to thank investors, intermediaries, and other market participants for their support over the past five years and will hold a global investor call later today regarding its business. The decision to change the financing arrangements of Kainga Ora is outlined in the Ministerial Statement (link 1 below). A change in financing arrangement Q+A (link 2 below), also released, provides additional information. Treasury and NZDM will respond to questions from investors regarding today's decision and implications for the Government borrowing programme. Global investor call details: Date: Friday 11 November 2022 Time: 2pm NZT Link: https://teams.microsoft.com/dl/launcher/launcher.html?url=%2F_%23%2Fl%2Fmeetu p-join&type=meetup-join&deeplinkId=0ff5e084-195c-4b50-9651-4a5a87e7c96e&direc tDl=true&msLaunch=true&enableMobilePage=true&suppressPrompt=true More information: LINK 1: https://kaingaora.cwp.govt.nz/assets/Investors-Centre/Media-statements/Minist erial-Statement-Kainga-Ora-Financing-Arrangement-11-November-2022.pdf LINK 2: https://kaingaora.cwp.govt.nz/assets/Investors-Centre/Media-statements/Change -in-Financing-arrangements-Q+A.pdf Nga mihi End CA:00402196 For:HNZ Type:GENERAL Time:2022-11-11 09:08:39