Notice of Allotment of Unsecured Subordinated Notes

Refining NZ
Port Marsden Highway, Ruakaka, Northland 0171, Private Bag 9024, Whangarei 0148, New Zealand
Telephone: +64 9 432 5100 Email: corporate@refiningnz.com www.refiningnz.com



14 December 2018
NOTICE OF ALLOTMENT OF UNSECURED SUBORDINATED NOTES
For the purposes of Listing Rule 7.12.1, The New Zealand Refining Company
Limited (Refining NZ) advises the following securities have been issued on 14
December 2018.

(a)
Class of security and ISIN Unsecured subordinated Notes (Notes)
(ISIN NZNZRDT001C8).



(b)
Number issued
75,000,000.



(c)
Issue price
$1.00.



(d)
Payment terms
Cash.



(e)
Amount paid up
Fully paid.



(f)
Principal terms of securities

Not applicable.
(g)
Percentage of class of securities
100% (post allotment).



(h)
Reason for issue
Applications received and processed under
Product Disclosure Statement for the offer of
unsecured subordinated notes dated 20
November 2018.



(i)
Authority for issue
Product Disclosure Statement dated 20
November 2018 authorised by resolution of the
board of directors of Refining NZ dated 7
November 2018.



(j)
Terms of issue
As set out in the Product Disclosure Statement
dated 20 November 2018.



(k)
Number of securities in existence
after the issue
75,000,000.

(l)
Date of issue
14 December 2018

Refining NZ
Port Marsden Highway, Ruakaka, Northland 0171, Private Bag 9024, Whangarei 0148, New Zealand
Telephone: +64 9 432 5100 Email: corporate@refiningnz.com www.refiningnz.com

For further information, please contact:
Arranger and Joint Lead Manager
First NZ Capital Securities Limited

Phone: 0800 005 678

Joint Lead Managers
ANZ Bank New Zealand Limited Bank of New Zealand


Phone: 0800 269 476 Phone: 0800 284 017

Forsyth Barr Limited


Phone: 0800 367 227

Refining NZ
Denise Jensen
Chief Financial Officer / Company Secretary
T: +64 9 432 8311
E: corporate@refiningnz.com