Letter from Crown on Air NZ capital raise

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


12 February 2021

Letter from Crown on Air NZ capital raise


Air New Zealand has actively engaged with the Crown as the Company has continued
to assess its longer-term capital structure and funding needs. Air New Zealand has
recently reconfirmed to the Crown its intention to complete an equity capital raise before
30 June 2021.

Given the critical role the Company has in New Zealand’s economy and society, the
Crown has, in that context, confirmed in a letter to the Air New Zealand Chairman
received today its longstanding commitment to maintaining a majority shareholding in Air
New Zealand. This letter also confirmed that, subject to Cabinet being satisfied with the
terms of Air New Zealand’s proposed equity capital raise, it would participate in that
equity capital raise in order to maintain a majority shareholding in Air New Zealand.

Ends.

Therese Walsh
Chairman
Jennifer Page
General Counsel and Company Secretary
jennifer.page@airnz.co.nz
+64 27 909 0691
Leila Peters
General Manager Corporate Finance
leila.peters@airnz.co.nz
+64 21 743 057