Conversion of convertible notes

Media Release 22 May 2017



Conversion of convertible notes

For the purposes of Listing Rules 7.12.1 and 7.12.9 of the NZX Main Board Listing Rules,
Energy Mad advises that the following securities have been issued pursuant to the
conversion of the convertible notes issued on 25 November 2014:

a) Class of security: Ordinary Shares
ISIN: NZMADE0001S4
b) Number issued: 28,400,000
c) Issue Price: $0.01
d) Payment terms: Conversion of 284,000 convertible notes with a face
value of $284,000
e) Amount paid up: In full
f) Percentage of total class issued: 19.3% of the total shares on issue immediately prior
to the issue of the new shares
g) Reason for issue: Conversion of convertible notes in accordance with
the convertible note agreement dated 25 November
2014.
h) Authority for issue: Shareholder resolution passed at a special meeting
held on 25 February 2015.
i) Terms of issue: The shares will rank equally in all respects with
existing ordinary shares of the Company at the date
on which they are issued.
j) Total number of securities after issue: 175,836,635
k) Treasury stock: N/A
l) Date of issue: 22 May 2018
m) Details of interest or dividend Nil
conditions attaching to securities
converted and allotted on
conversion:

n) No of securities of same class Nil
still to be converted:

ENDS

For More Information Contact:

Aidan Johnstone
General Manager, Finance and Operations
+64 27 434 3108