Issue of Restricted Share Rights

Air New Zealand Limited, 185 Fanshawe Street, Auckland
Private Bag 92007 Telephone +64-9-336 2914 Facsimile +64-9-336 2667


T O
Listed Company Relations
NZSX Market
V I A N Z M A P

C C
Company Announcements Office
Australian Stock Exchange
V I A A S X
O N L I N E

F R O M
Liz Lawless
Corporate Legal Services
D A T E
15 October 2018
N U M B E R O F P A G E S I N C L U D I N G C O V E R S H E E T
One
S U B J E C T
ISSUE OF RESTRICTED SHARE RIGHTS

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 242,643 restricted share rights under the
plan to Christopher Luxon. These restricted share rights were issued on 12 October 2018.
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 the
Company on the vesting date. The vesting date for this issue of restricted share rights is
31 December 2019 for 145,586 of the rights and 31 December 2020 for the balance (97,057)
of the rights.
When considering whether to issue restricted share rights under the Plan in respect of a
financial 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 year
ending 30 June 2020.

---

NEW ISSUE ANNOUNCEMENT,
APPLICATION FOR QUOTATION OF
ADDITIONAL SE C1.1RITIE S
AND AGREEMENT
APPENDIX 3B
Into final!'o11 or doci, merits ,101 available flow inns! be given to AsX OS soon OS aunt/able. I'dbr, ,10/10/1 and
doct, me, ,!s given to AsXbecome, SX's property and hidy be modepub/It
Introduced 1796. Origin: Appendix 5. Amended 1798.1999.172000.3092001.1132002. I 12003Name of entity
11< NEW ZEALAND LIMITED
anN
70000 312685
We (the entity) give AsX the following inforrnation.
PART I
you nit, SI coinp/e!e Ihe relev0,11 seci, 'ons @110ch sheers tithere is nor enough space)
ALL ISSUES
'Class of 'securities issued or to be Restricted Share Rights to acquire Ordinary
issued
Shares
Number of 'securities issued or to
be issued (if known) or maximumnumber which may be issuedPrincipal 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
and due dates for payment; if consideration. Restricted Share Rights will
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 priceconversion)
Rights Plan, being 145,586 on 31 December 2019
and 97,057 on 31 December 2020, provided the
CEO remains in the role of CEO at these dates.
242,643 Restricted Share Rights under Air NewZealand CEO Resincted Share Rights Plan
+ See chapter 19 for defined rerms
Appendix 3B Page I

4
Do the securities rank equally in all The Ordinary Shares issued on vesting of the
respects 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 thedistribution) or interest payment
. the extent to which they do not
rank equally, other than in
relation to the next dividend,
distribution or interest payment
case
Issue price or consideration
6
Purpose of the issue
(If issued as consideration for the
acquisition of assets, clearly identifythose assets)
NIL
Dates of entering securities into
uricertificated holdings or despatch
of certificates
Restricted Share Rights under the Air NewZealand CEO Resincted Share Rights Plan.
Number and class of all
quoted
AsX
securities
on
Uricl"at"g the securities in clause2 if applicable)
12 October 2018
Number
I, 122,81 0,044
34,183
1,122,844,227
Class
Ordinary Shares quotedPlus Treasury StockTotal Securities
+ See chap!er 19 for defined rerms
Appendix 38 Page 2

Number and class of all
securities not quoted on AsX
On CIMdrng the securities in clause2 if applicable)
Number
12,699,760
Dividend policy (in the case of a Refer to Distribution Policy on Company Web site
trust, distribution policy) on theincreased capital (interests)
Class
Kiwi Share
753,451
Perfonnance Rights
under the Air New
Zealand Long Tenri
incentive Perfonnance
Rights Plan
Resincted Share Rights
under the Air New
Zealand CEO Resincted
Share Rights Plan
+ See chopier 19 for defined rerms
Appendix 38 Poge 3

PART 2
11
Is securityrequired?
BONUS ISSUE OR PRO RATA ISSUE
Is the issue renounceable or non- N A
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
Record date
entitlementsWill holdings on different registers N/A
(or subregisters) be aggregated for
calculating entitlements?Policy for deciding entitlements in N/Arelation to fractions
to
determine
Names of countries in which the N/A
entity has security holders whowill not be sent
new Issue
documents
Note: Security holders In us I be told now 111eirentitlements are to be dealt with
Cross reference: rule 7.7
NA
Closing date for receiptacceptances or renunciations
of N/A
+ See chopier 19 for defined terms
Appendix 38 Page 4

20
Names of any undervriters
21
Amount of any underuriting fee or N/A
22
coinmission
Names of any brokers to the issueFee or commission payable to the N/A
broker to the issue
24
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 meeting
Date 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 terms entitle option holders to
participate on exercise, the date on
which notices will be sent to option
holders
N/A
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 lull through a
broker?
31
How do security holders sell parr N/A
of their entitlements tlrrough a
broker and accept for the balance?
+ See chop!er 19 for defined refms
Appendix 38 Page 5

32
How do security holders dispose
of their entitlements (except by salethrough a broker)?
Despatch date
33
QUOTATION OF SECURITIES
PART 3
you need only coinp/eie Ihis seeri'on ryou rife applying. for quoioiio" of securiii^s
34 Type of securities
(tick one)
Securities described in Part I (Ordinary Shares only)
N/A
(a)
.
.
N/A
(b)
ENTITIES THAT HAVE TICKED Box 34(A)
All other securities
Example: restricted securities at 111e end of 111e escrowed period. partly paid securities Inai be coine fully paid. employee
incentive share securities WITen restriction ends. securities issued on expiry or conversion of convertible securities
ADDITIONAL SECURITIES FORMING A NEW CLASS OF
SECURITIES
nck to indicaie you ore providrng Ihe Informnii'0, , or
documents
35
If the securities are equity securities, the names of the 20 largest holders of the
additional securities, and the number and percentage of additional securities held by
those holders
If the securities are equity securities, a distribution schedule of the additional
securities setting out the number of holders in the categories
I - 1,000
1,001 - 5,000
5,001 - 10,000
10,001 - 100,000100,001 and over
36
37
A copy of any trust deed for the additional
securities
+ See chop!er 19 for defined Ierms
Appendix 38 Page 6

ENTITIES THAT HAVE TICKED Box 34(B)
38
Number of securities for which
quotation is sought
39
Class of securities
quotation is sought
Do the securities rank equally in allrespects from the date of allotment
with 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,
(in the
of a trust,
distribution) or interest payment
. the extent to which they do not
rank equally, other than inrelation to the next dividend,distribution or interest payment
case
Reason for request for quotationnow
Example: In Ihe 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 (litchidihg thesecurities in clause 38)
Number
Class
+ See chop!er 19 for defined rerms
Appendix 3B Page 7

QUOTATION AGREEMENT
Quotation of our additional securities ism 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 willnot require disclosure under section 707(3) or section 10/2C(6) of the
Corporations Act.
Note: An entity may need to obtain appropriate warranties from subscribers for the securities in order to be able to give
111is 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 andthat 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 confirmation is required under section 10/7F 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 112003
+ See chopier 19 for defined refms
Appendix 38 Foge 8

We will indenrriify AsX to the fullest extent peruiitted 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 fomi. If any
information or document not available now, will give it to AsX before quotation ofthe securities begins. We acknowledge that AsX is relying on the infonnation anddocuments. We warrant that they are (will be) true and complete.
Sign here:
Print name: Karen Clayton
Date: ... 15 0 tober2018
(Company secretary)
11/12003
+ See chop!er 19 for defined terms
Appendix 3B Page 9