Spark to take full ownership of Connect 8

Spark New Zealand Limited
ARBN 050 611 277 Spark City, 167 Victoria Street West, Private Bag 92028, Auckland, New Zealand


MARKET RELEASE
Wednesday 22 December 2021

Spark to take full ownership of Connect 8
Spark announced today that it has signed a conditional agreement to purchase back
50% of the shares in Connect 8 from electricity distribution company Electra Group.

The transaction means that Connect 8, an infrastructure provider to the
telecommunications, water, and power sectors, will again be wholly owned by Spark.

Spark Technology Director Mark Beder says, “We believe now is the right time to
bring Connect 8 back into the Spark group, to support the acceleration of our 5G
rollout and the sharp uplift we have seen in IoT connections.

“Over the past three years, Connect 8 has expanded into water and power, which
further supports our deployment of IoT networks and customer solutions in these
sectors.”

Electra Chief Executive Neil Simmonds says, “It’s been a pleasure working with the
Connect 8 team. We have improved our understanding of future telecommunications
technologies through our involvement with Connect 8 but have decided to increase
our business focus on our core Kapiti and Horowhenua regions.”

The transaction is expected to complete in early 2022. Connect 8 will continue to
operate as construction contractor for telecommunications and other utility sectors.


Authorised by:
Alastair White
GM Capital Markets

- ENDS –

For media queries, please contact:
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+64 (0) 22 630 0665

Spark New Zealand Limited
ARBN 050 611 277 Spark City, 167 Victoria Street West, Private Bag 92028, Auckland, New Zealand


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