NZX to introduce performance metrics, confirms investor day

NZX Limited
Level 1, NZX Centre
11 Cable Street
PO Box 2959
Wellington 6140
New Zealand
Tel +64 4 472 7599

www.nzx.com

www.nzx.com 1 of 2
20 December 2018

NZX announces commitment to introduce performance metrics, increase
transparency & re-introduce annual Investor Day in 2019

The NZX has previously acknowledged that a group of shareholders had expressed public
concern about the exchange’s strategy and the perceived execution of it.

The NZX board has taken this feedback seriously and met with Elevation Capital on several
occasions in good faith. NZX has also engaged with a range of shareholders and market
stakeholders to understand broader views. Central to the themes which have emerged is the
importance of clear performance metrics, improved operational performance across all facets of
the business, increased transparency and a healthy capital markets ecosystem.

The NZX board is today providing an update on how it will address this feedback so it can
continue to execute on its strategy, which will improve market health and shareholder returns.

Accordingly, to provide increased clarity for shareholders and the market on NZX’s financial
performance and strategic progress a series of financial and non-financial metrics will be
implemented to improve the assessment of the exchange’s performance and delivery. As
indicated in its 2017 annual report, NZX will also adopt a formal sustainability reporting
framework as part of its 2018 full year results. This will be the Global Reporting Initiative (GRI)
framework.

The NZX board acknowledges Elevation Capital’s overarching desire to improve market health
and the exchange’s critical role in achieving this goal. NZX reiterates it has executed on several
measures in 2018 to assist with this, including finalising an updated market structure and rule
set to assist in the listing of financial products, and the implementation of several initiatives
designed to increase liquidity. This is complemented by a transformed issuer relationship
service offering and an increased global outlook for the exchange as it forms partnerships with
global peers.

NZX Chair James Miller commented: “Elevation Capital has agreed to engage constructively
with NZX to jointly improve New Zealand’s capital markets.”

NZX shareholders should expect execution of the current strategy to continue with increased
intensity. Below is a summary of NZX’s key reporting dates for 2019 where NZX expects to
update shareholders in a definitive way as to progress:

 2018 full year financial results released – Friday 15 February 2019
 Annual Meeting, and celebration of 150 years – Friday 5 April 2019
 Investor day – Tuesday 30 April 2019
 2019 half year financial results released – Tuesday 13 August 2019

For further information please contact:
Hannah Lynch
Head of Communications

T: 09 308 3710
M: 021 252 8990
E: hannah.lynch@nzx.com