Issue of Restricted Share Rights

A S AR ALLIANCL MEMBER v >
To
cc
Listed Company RelationsNZSX Market
FROM
Company Announcements Office
Australian Stock EXchange
NUMBER OF PAGES INCLUDING COVER SHEET
Liz Lawless
Cor orate Le al Services
SUBJECT
In 2016 Air New Zealand Limited (the Company) adopted a Chief Executive Officer Restricted
Share Rights Plan (Plan).
The Company advises that it has made a grant of 216,954 restricted share rights under the
plan to Christopher Luxon. These restricted share rights were issued on 30 November 2017.
Each restricted share right issued under the Plan gives the holder the right to receive one fully
paid ordinary share in the Company, subject to the holder remaining employed by theCompany on the vesting date. The vesting date for this issue of restricted share rights is31 December 2018 for 86,782 of the rights and 31 December 2019 for the balance (130,172)of the rights.
When considering whether to issue restricted share rights under the Plan in respect of afinancial year, the Board will assess the Chief Executive Officer's performance against the
individual objectives set for that financial year. Future issues of restricted share rights will be
considered on an annual basis. The Plan is expected to continue through to the financial yearending 30 June 2020.
ISSUE OF RESTRICTED SHARE RIGHTS
^.^
AIR NEW ZEALAND ^'~
VIA NZ MAP
VIA Asx
ON LIN E
One
DAT E
7 December 2017
Air New Zealand Limited, 785 Fanshawe Street, AUGkland
Private Bag 92007 Telephone +64-9-3362974 Facsimile +64-9-3362667

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NEW Is S LIE ANN 01.1N C EMENT,
APPLICATION FOR QUOTATION OF
ADDITIONAL SEC 1.1RITIE S
AND AGREEMENT
APPENDIX 3B
fillbr", orion or docume"!s not ami/able now mus! be given 10'sXus soon OS drollob/e. 1,116r", orion rind
documents given 10 AsXbecome AsX's property und may be modepub/IC
Introduced 1796. Origin: Appendix 5. Amended 1798.1999.172000.3092001.1132002. I 12003Name of entity
ER NEW ZEALAND LIMITED
ABN
70000 312685
We (the entity) give AsX the following infonnation.
PART I
you innsi con, PIe!e Ihe relevon! sec!lolls folioch sheeis dinere is nor enoi, gh spoce)
ALL ISSUES
'Class of 'securities issued or to be
issued
Number of 'securities issued or to
be issued (if known) or maximum
number which may be issued
Principal ternis of the securities
(eg, if options, exercise price and
Restricted Share Rights under Air New Zealand
expiry date; if partly paid
CEO Restricted Share Rights Plan issued for nil
securities, the amount outstanding
consideration. Restricted Share Rights will
and due dates for payment; if
the convert to shares on the dates set out in the rules
convertible
securities,
and dates for
of the Air New Zealand CEO Resincted Share
conversion price
conversion)
Rights Plan, being 86,782 on 31 December 2018
and 130,172 on 31 December 2019, provided theCEO remains in the role of CEO at these dates.
Restricted Share Rights to acquire Ordinary
Shares
216,954 Restricted Share Rights under Air NewZealand CEO Restricted Share Rights Plan
+ See chop!er 19 for defined refms
Appendix 3B Page I

Do the securities rank equally in all The Ordinary Shares issued on vesting of therespects from the date of allotment
Restricted Share Rights will rank equally with
with an existing class of quoted
existing Ordinary Shares on issue.
securities?
If the additional securities do not
rank equally, please state:
. the date from which they do. the extent to which they
participate for the next dividend,
of a trust,
(in the
case
distribution) or interest payment
. the extent to which they do not
rank equally, other than in
relation to the next dividend,
distribution or interest payment
Issue price or considerationPurpose of the issue
(If issued as consideration for theacquisition of assets, clearly identifythose assets)
NIL
Dates of entering securities intouricertificated holdings or despatchof certificates
Resincted Share Rights under the Air New
Zealand CEO Resincted Share Rights Plan.
Number and class of all
quoted
Asx
securities
on
Uric/uding the securities in clause2 if applicable)
30 November 2017
Number
1,122,775,861
34,183
I, 122,81 0,044
Class
Ordinary Shares quoted
Plus Treasury StockTotal Securities
+ See chap!er 19 for defined rerms
Appendix 38 Page 2

Number and class of all
securities not quoted on AsX
Uriclud^^g the securities in clause2 if applicable)
Number
415,735
12,529,494
Class
Kiwi Share
Dividend policy (in the case of a Refer to Distribution Policy on Company Web sitetrust, distribution policy) on the
increased capital (interests)
Options under the Air
New Zealand Long Terni
incentive Plan
876,669
Perfonnance Rightsunder the Air NewZealand Long Tenri
incentive PerfonnanceRights PlanRestricted Share Rightsunder the Air NewZealand CEO Resincted
Share Rights Plan
+ See chop!er 19 for defined rerms
Appendix 38 Page 3

PART 2
11
Is security
required?
BONUS ISSUE OR PRO RATA ISSUE
Is the issue renounceable or non-renounceable?
holder
Ratio in which the securities will N/Abe offered
14
approval N/A
Class of securities to which the N/A
offer relates
15
Record date
entitlements
N/A
Will holdings on different registers
(or subregisters) be aggregated for
calculating entitlements?
to
Policy for deciding entitlements in N/A
relation to fractions
determine
Names of countries in which the
entity has security holders who
will not be sent new issue
documents
Note: Security 1101ders In us I be told now tileir
entitlements are 10 be dealt willI
Cross reference: rule 77
N/AN/A
19
Closing date for receiptacceptances or renunciations
N/A
of N/A
+ See chap!er 19 for defined Ierms
Appendix 3B Page 4

20
Names of any undervriters
21
Amount of any underuriting fee or N/A
22
cornmission
Names of any brokers to the issue
Fee or commission payable to the N/Abroker to the issue
N/A
Amount of any handling feepayable to brokers who lodge
acceptances or renunciations onbehalf of security holders
If the issue is contingent on N/A
security holders' approval, the date
of the meetingDate entitlement and acceptance N/A
form and prospectus or Product
Disclosure Statement will be sent topersons entitled
If the entity has issued options, and N/Athe ternis entitle option holders to
participate on exercise, the date on
which notices will be sent to optionholders
NA
N/A
28
Date rights trading will begin Of N/A
applicable)Date rights trading will end Of N/A
applicable)
29
30
How do security holders sell their N/A
entitlements in fill through abroker?
31
How do security holders sell port N A
of their entitlements through abroker and accept for the balance?
+ See chap!er 19 for defined rerms
Appendix 38 Page 5

32
How do security holders dispose N/A
of their entitlements (except by sale
through a broker)?
Despatch date
33
PART 3 - QUOTATION OF SECURITIES
you need only coinple!e Ihis sec!ton ryou are OPPlying/by quoio!ion of securi'!I^s
Type of securities
34
(t^^k one)
Securities described in Part I (Ordinary Shares only)
(a)
.
.
N/A
(b)
ENTITIES THAT HAVE TICKED Box 34(A)
All other securities
Example: restricted securities at the end of tile escrowed period. partly paid securities Inai beeoine fully paid. employee
incentive snare securities when restriction ends. securities issued on expiry or conversion of convertible securities
ADDITIONAL SECURITIES FORMING A NEW CLASS OF
SECURITIES
nck to inched!e yo!, ore providing 1/1e i, !!bin, o110/1 or
docu", en!s
35
..
36
If the securities are equity securities, the names of the 20 largest holders of theadditional securities, and the number and percentage of additional securities held bythose holdersIf the securities are equity securities, a distribution schedule of the additional
securities setting out the number of holders in the categories
I - 1,0001,001 - 5,000
5,001 - 10,000
10,001 - 100,000100,001 and over
A copy of any trust deed for the additional securities
37
.
+ See chop!er 19 for defined refms
Appendix 3B Page 6

ENTITIES THAT HAVE TICKED Box 34(B)
38
Number of securities for which
quotation is sought
39
Class of securitiesquotation is soughtDo the securities rank equally in allrespects from the date of allotmentwith an existing class of quoted
securities?
for which
If the additional securities do notrank equally, please state:
. the date from which they do. the extent to which they
participate for the next dividend,
of a trust,
(in the
case
distribution) or interest payment
. the extent to which they do not
rank equally, other than inrelation to the next dividend,
distribution or interest payment
Reason for request for quotationnow
Example: In the case of restricted securities. end of
restriction period
(if issued upon conversion ofanother security, clearly identify that
other security)
Number and class of all securities
quoted on AsX (litc/udrng the
securities in clause 38)
Number
Class
+ See choprer 19 for defined Ierms
Appendix 3B Page 7

QUOTATION AGREEMENT
Quotation of our additional securities is in AsX's absolute discretion. AsX may
quote the securities on any conditions it decides.
We warrant the following to AsX.
The issue of the securities to be quoted complies with the law and is not for
an illegal purpose.
There is no reason why those securities should not be granted quotation.All offer of the securities for sale within 12 months after their issue will
not require disclosure under section 707(3) or section 10/2C(6) of theCorporations Act.
Note: An entity Inay need to obtain appropriate warranties from subscribers for the securities in order 10 be able to give
this warranty
Section 724 or section 10/6E of the Corporations Act does not apply to any
applications received by us in relation to any securities to be quoted and
that no-one has any right to return any securities to be quoted under
sections 737,738 or 10/6F of the Corporations Act at the time that we
request that the securities be quoted.We warrant that if confinnation is required under section I0 17F of the
Corporations Act in relation to the securities to be quoted, it has been
provided at the time that we request that the securities be quoted.
If we are a trust, we warrant that no person has the right to return the
securities to be quoted under section 10/9B of the Corporations Act at the
time that we request that the securities be quoted.
I I 2003
+ See chopier 19 for defined rerms
Appendix 3B Page 8

We will in dellmify AsX to the fullest extent pennitted by law in respect of any
claim, action or expense arising from or connected with any breach of the warrantiesin this agreement.
We give AsX the infonnation and documents required by this form. If any
information or document not available now, will give it to AsX before quotation of
the securities begins. We acknowledge that AsX is relying on the infonnation and
documents. We wa ant that t ey are ( '11 be) true and complete.
Date: ... 7 December 2017
Sign here:
Print name: Karen Clayton
(Company secret
I I 2003
+ See chop!er 19 for defined Ierms
Appendix 38 Page 9