DRP price and AUD dividend rate

Chorus Limited
Level 10, 1 Willis Street
P O Box 632
Wellington
New Zealand

Email: company.secretary@chorus.co.nz

STOCK EXCHANGE ANNOUNCEMENT

26 March 2019


DRP price and AUD dividend rate

The price at which shares will be allotted under Chorus’ Dividend Reinvestment Plan
(DRP) for the FY19 interim dividend is NZ$5.57556. The shares will be issued on 16 April
2019.

The price was set based on the volume weighted average sale price of price setting
trades of Chorus shares on the NZX Main Board taking place over a period of five trading
days commencing on 18 March 2019, less a discount of 3%.

The foreign exchange rate used for Chorus’ FY19 interim dividend payable to Australian
investors has been set at (NZD/AUD) $0.96823. The interim dividend of NZ$0.095 cents
per share will be paid on 16 April 2019. A supplementary dividend of NZ$0.01677 cents
per share will also be paid on 16 April 2019 to shareholders who are not resident in New
Zealand.

A copy of Chorus’ updated ASX Appendix 3A.1 is attached.


ENDS


For further information:

Brett Jackson
Investor Relations Manager
Phone: +64 4 896 4039
Mobile: +64 (27) 488 7808
Email: Brett.Jackson@chorus.co.nz

Nathan Beaumont
Stakeholder Communications Manager
Phone: +64 4 896 4352
Mobile: +64 (21) 243 8412
Email: Nathan.Beaumont@chorus.co.nz

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Update Summary
Entity name
CHORUS LIMITED
Security on which the Distribution will be paid
CNU - ORDINARY FULLY PAID FOREIGN EXEMPT NZX
Announcement Type
Update to previous announcement
Date of this announcement
Tuesday March 26, 2019
Reason for the Update
Confirmation of the price at which shares will be allotted under the Chorus Dividend Reinvestment Plan for the
FY19 interim dividend. The price has been set at NZD 5.57556. The shares will be issued on 16 April 2019.
Confirmation of the foreign exchange rate used for the FY19 interim dividend payable to Australian investors which
has been set at NZD AUD 0.96823. The dividend will be paid on 16 April 2019.
Refer to below for full details of the announcement
Announcement Details
Part 1 - Entity and announcement details
1.1 Name of +Entity
CHORUS LIMITED
1.2 Registered Number Type
ARBN
Registration Number
152485848
1.3 ASX issuer code
CNU
1.4 The announcement is
Update/amendment to previous announcement
1.4a Reason for update to a previous announcement
Confirmation of the price at which shares will be allotted under the Chorus Dividend Reinvestment Plan for the
FY19 interim dividend. The price has been set at NZD 5.57556. The shares will be issued on 16 April 2019.
Confirmation of the foreign exchange rate used for the FY19 interim dividend payable to Australian investors which
has been set at NZD AUD 0.96823. The dividend will be paid on 16 April 2019.
1.4b Date of previous announcement(s) to this update
Monday February 25, 2019
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1.5 Date of this announcement
Tuesday March 26, 2019
1.6 ASX +Security Code
CNU
ASX +Security Description
ORDINARY FULLY PAID FOREIGN EXEMPT NZX
Part 2A - All dividends/distributions basic details
2A.1 Type of dividend/distribution
Ordinary
2A.2 The Dividend/distribution:
relates to a period of six months
2A.3 The dividend/distribution relates to the financial reporting or payment period ending
ended/ending (date)
Monday December 31, 2018
2A.4 +Record Date
Tuesday March 19, 2019
2A.5 Ex Date
Monday March 18, 2019
2A.6 Payment Date
Tuesday April 16, 2019
2A.7 Are any of the below approvals required for the dividend/distribution before business day 0
of the timetable?
Security holder approval
Court approval
Lodgement of court order with +ASIC
ACCC approval
FIRB approval
Another approval/condition external to the entity required before business day 0 of the
timetable for the dividend/distribution.
No
2A.8 Currency in which the dividend/distribution is made ("primary currency")
NZD - New Zealand Dollar
2A.9 Total dividend/distribution payment amount
per +security (in primary currency) for all
dividends/distributions notified in this form
NZD 0.11176500
2A.9a AUD equivalent to total
dividend/distribution amount per +security
0.10821423

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2A.9b If AUD equivalent not known, date for
information to be released
Tuesday March 26, 2019
Estimated or Actual?
Actual
2A.9c FX rate (in format AUD 1.00 / primary
currency rate): AUD
AUD 1.00
FX rate (in format AUD rate/primary currency
rate) Primary Currency rate
NZD 1.03281245
2A.10 Does the entity have arrangements
relating to the currency in which the
dividend/distribution is paid to securityholders
that it wishes to disclose to the market?
Yes
2A.11 Does the entity have a securities plan for
dividends/distributions on this +security?
We have a Dividend/Distribution Reinvestment
Plan (DRP)
2A.11a If the +entity has a DRP, is the DRP
applicable to this dividend/distribution?
Yes
2A.11a(i) DRP Status in respect of this
dividend/distribution
Full DRP
2A.12 Does the +entity have tax component
information apart from franking?
No
2A.13 Withholding tax rate applicable to the dividend/distribution
15.000000
Part 2B - Currency Information
2B.1 Does the entity default to payment in certain currencies dependent upon certain attributes
such as the banking instruction or registered address of the +securityholder? (For example NZD
to residents of New Zealand and/or USD to residents of the U.S.A.).
Yes
2B.2 Please provide a description of your currency arrangements
Payment to Australian residents calculated as the AUD equivalent of the NZD.
Payments to other shareholders in NZD.
2B.2a Other currency/currencies in which the dividend/distribution will be paid:
AUD - Australian DollarAUD 0.10821423
2B.2b Please provide the exchange rates used for non-primary currency payments
NZD/AUD 0.96823
2B.2c If payment currency equivalent and
exchange rates not known, date for information
to be released
Tuesday March 26, 2019
Estimated or Actual?
Actual

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2B.3 Can the securityholder choose to receive a currency different to the currency they would
receive under the default arrangements?
No
Part 3A - Ordinary dividend/distribution
3A.1 Is the ordinary dividend/distribution
estimated at this time?
No
3A.1a Ordinary dividend/distribution estimated
amount per +security
NZD
3A.1b Ordinary Dividend/distribution amount per
security
NZD 0.09500000
3A.2 Is the ordinary dividend/distribution
franked?
No
3A.3 Percentage of ordinary
dividend/distribution that is franked
0.0000 %
3A.4 Ordinary dividend/distribution franked
amount per +security
NZD 0.00000000
3A.5 Percentage amount of dividend which is
unfranked
100.0000 %
3A.6 Ordinary dividend/distribution unfranked
amount per +security excluding conduit foreign
income amount
NZD 0.09500000
Part 3F - NZD declared dividends/distributions - supplementary dividend/distribution
3F.1 Is a supplementary dividend/distribution payable?
Yes
3F.2 Is the supplementary dividend/distribution
estimated at this time?
No
3F.2a Supplementary dividend/distribution
estimated amount per +security
NZD
3F.2b Supplementary dividend/distribution amount per +security
NZD 0.01676500
3F.3 Is the Supplementary dividend/distribution
franked?
No
3F.4 Percentage of Supplementary
dividend/distribution that is franked
0.0000 %
3F.4a Applicable corporate tax rate for franking
credit (%)
%
3F.5 Supplementary dividend/distribution
franked amount per +security
NZD 0.00000000
3F.6 Percentage of Supplementary
dividend/distribution that is unfranked
100.0000 %

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3F.7 Supplementary dividend/distribution unfranked amount per security
NZD 0.01676500
Part 4A - +Dividend reinvestment plan (DRP)
4A.1 What is the default option if +security holders do not indicate whether they want to
participate in the DRP?
Do not participate in DRP (i.e. cash payment)
4A.2 Last date and time for lodgement of
election notices to share registry under DRP
Wednesday March 20, 2019 15:00:00
4A.3 DRP discount rate
3.0000 %
4A.4 Period of calculation of reinvestment price
Start Date
Monday March 18, 2019
End Date
Friday March 22, 2019
4A.5 DRP price calculation methodology
The volume weighted average sale price of Chorus shares calculated on all price setting trades of Chorus shares
through the NZX over a period of five business days commencing on the ex date, less the discount noted above
and subject to the adjustment in accordance with the DRP Offer Document.
4A.6 DRP Price (including any discount):
NZD 5.57556
4A.7 DRP +securities +issue date
Tuesday April 16, 2019
4A.8 Will DRP +securities be a new issue?
Yes
4A.8a Do DRP +securities rank pari passu from
+issue date?
Yes
4A.9 Is there a minimum dollar amount or number of +securities required for DRP participation?
No
4A.10 Is there a maximum dollar amount or number of +securities required for DRP participation?
No
4A.11 Are there any other conditions applying to DRP participation?
No
4A.12 Link to a copy of the DRP plan rules
https://company.chorus.co.nz/financials
4A.13 Further information about the DRP
Part 5 - Further information
5.1 Please provide any further information applicable to this dividend/distribution
The total dividend distribution amount per security referred to in 2A.9 relates to ordinary dividend of NZD
0.09500000 plus a supplementary dividend of NZD 0.01676500 payable to non-New Zealand resident
shareholders.

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5.2 Additional information for inclusion in the Announcement Summary