Issue of Performance Rights

Capital Change21 October 2019AIRIndustrials

Stock exchange listings: New Zealand (NZX: AIR) / Australia (ASX: AIZ) / ADR (OTC: ANZLY)

MARKET ANNOUNCEMENT

Air New Zealand postal address: Private Bag 92007, Auckland, 1142, New Zealand
Investor Relations email: investor@airnz.co.nz
Investor website: www.airnewzealand.co.nz/investor

21 October 2019

Issue under Air New Zealand Long Term Incentive Performance Rights Plan

In 2015, Air New Zealand Limited (AIR) (the Company) adopted a new Long Term Incentive Performance
Rights Plan (the Plan).
The Company advises that it has issued 4,746,580 performance rights for no consideration to the Chief
Executive Officer and selected executives under the Plan. The performance rights were issued on 21
October 2019 as approved by the directors of the Company on 25 September 2019.
The performance rights issued under the Plan give participants the right to receive ordinary shares in the
Company subject to certain vesting conditions being met on or after 10 September 2022. The vesting of
performance rights is subject to the Company’s share price outperforming a comparison index made up
50:50 between the NZX All Index and the Bloomberg World Airline Index over a three year measurement
period from the date of issue. In particular:
(a) 50% of performance rights will vest if the Company’s share price has matched the index over the
measurement period; and

(b) for each 1% the share price outperforms the index, a further 2.5% of performance rights will vest
until reaching the maximum 100%.

If the share price does not match the index on the third anniversary of the issue date, there will be a
further six-month opportunity for the performance rights to vest.

In connection with the issue of these performance rights, Air New Zealand advises the following details:
(a) Class of security and ISIN: Performance Rights- ISIN: N/A
(b) Number of Performance
Rights issued: 4,746,580
(c) Issue Price: NIL
(d) Payment in cash: NIL
(e) Amount paid up: N/A
(f) Percentage of total
class of securities: 43% (of Performance Rights on issue)

Disclosure of Director and Senior Mngrs Relevant Interests Disclosure of Relevant Interests

Data sourced from publicly available filings. Our datasets may not be complete. Automated analysis can produce errors. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz. For informational purposes only. Not investment advice.

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