MCY and PowAR enter into binding agreement to acquire TLT

$1
$2
$3
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$5
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$7
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Jul
2020
MERCURY’S TILT JOURNEY
1
May
2018
Feb
2019
Jul
2019
Aug
2018
Mar
2021
Acquires initial
stake of $144m
($2.30 per share)
Option to acquire a
further 6.8%
Joint takeover offer
taking Infratil
shareholding to >65%
(inclusive of exercise
of option)
Additional investment
of $55m through
Dundonnell
capital raising
($1.75 per share)
Mercury CE
appointed to Tilt
Board
Enter into binding
agreement with PowARto
acquire Tilt for NZ$7.80 per share.
Mercury to subsequently
acquire NZ operations
if scheme successful
($770m gross).
Mercury’s 19.92% share holding
in Tilt valued at $586.5m.
Receipt of $55m
via capital distribution
due to sale of
Snowtown II
Tilt Share Price (NZ$ per share)
1
1
Tilt Share Price (NZ$ per share) to 12 May 2021
Bid Price
(NZ$7.80 per share)
X

TILT NEW ZEALAND OPERATIONS
1
2
3
Omamari(wind)
Potential capacity: 70MW
Waipipi(wind)
Commissioned: 2021
Capacity: 133MW
TararuaI & II (wind)
Commissioned: 1998, 2004
Capacity: 68MW
TararuaIII (wind)
Commissioned: 2007
Capacity: 93MW
TararuaI & II repowering (wind)
Potential capacity: 140MW
MahinerangiII
Potential capacity: 160MW
Mahinerangi(wind)
Commissioned: 2011
Capacity: 36MW
KaiweraDowns
Potential capacity:
40MW (stage I)
200MW (stage II)
Operating assets
Development projects
AssetCommissionedCapacityAverage
Generation
Capacity
Factor
TararuaI & IIStage I: 1999
Stage II: 2004
68MW245GWh41%
TararuaIII200793MW318GWh39%
Mahinerangi201136MW101GWh32%
Waipipi2021133MW455GWh39%
Total330MW1,119GWh39%
OPERATING ASSETS
OptionPotential Capacity
TararuaI & II repowering140MW (vs. 68MW existing)
Omamari70MW
MahinerangiII160MW
KaiweraDownsStage I: 40MW; Stage II: 200MW
Other sitesSeveral early stage prospective sites
DEVELOPMENT OPTIONS