Clarification: Data in earlier release

Mercury wishes to clarify two statements in its release earlier today on the opening of the Turitea wind farm. Mercury's development pipeline of over 8,000GWh was described as "either in construction, consented or in consenting." This figure is inclusive of approximately 4,840GWh of projects actively being developed and secured, and therefore not in the consenting phase. The release also refers to Turitea as a $465m project. This was the projected capital cost in 2019. As set out in Mercury's results presentation released to the market on 21 February 2023, the total forecast project cost is now $450m (excluding capitalised interest). ENDS Howard Thomas General Counsel and Company Secretary Mercury NZ Limited For investor relations queries, please contact: Paul Ruediger Head of Business Performance and Investor Relations 0275 173 470 investor@mercury.co.nz For media queries, please contact: Shannon Goldstone Head of Communications Media phone: 027 210 5337 media@mercury.co.nz End CA:00410902 For:MCY Type:GENERAL Time:2023-05-04 14:32:34