Completion of Retail Entitlement Offer

NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES


Completion of Retail Entitlement Offer

15 March 2022 - NZX Limited ("NZX") announces that it has completed the retail entitlement offer component ("Retail
Entitlement Offer”) of its underwritten 1 for 9 accelerated pro-rata renounceable entitlement offer ("Entitlement Offer") of
new fully paid ordinary shares in NZX.
The Retail Entitlement Offer closed on Friday, 11 March 2022 and raised gross proceeds of approximately NZ$10 million.
Eligible Retail Shareholders elected to take up approximately 34% of their Entitlements.
The Institutional Entitlement Offer was accelerated, closing on Friday, 25 February 2022 and raised c. NZ$16 million.
Approximately 68% of Eligible Institutional Shareholders elected to take up their Entitlements.
Retail Bookbuild
NZX will offer approximately 13.2 million entitlements for sale under the retail shortfall bookbuild (“Retail Bookbuild”). These
entitlements are those attributable to Eligible Retail Shareholders that did not take up their entitlements in full and Retail
Shareholders who were ineligible to participate in the Retail Entitlement Offer.
Any proceeds achieved above the Application Price from the sale of Retail Entitlements will be paid (less applicable taxes) on a
pro-rata basis to those Eligible Retail Shareholders who did not take up their entitlements in full or Retail Shareholders who
were ineligible to participate in the Retail Entitlement Offer. There is no guarantee that any amount will be realised for the
sale of Retail Entitlements through the Retail Bookbuild.
The Retail Bookbuild will be conducted today and is open to institutional investors and brokers acting on behalf of retail
clients in New Zealand. NZX's ordinary shares are being placed in a trading halt today while the Retail Bookbuild is conducted.
Trading is expected to recommence on market open tomorrow, Wednesday 16 March 2022, with the announcement of the
outcome of the Retail Bookbuild.
Settlement and allotment of all shares for the Retail Entitlement Offer is expected to occur on Friday, 18 March 2022. Trading
of those shares is expected to commence on the NZX on Friday, 18 March 2022. The new shares to be issued under the Retail
Entitlement Offer will rank equally in all respects with NZX’s existing ordinary shares. Holding statements for the new shares
issued under the Retail Entitlement Offer will be dispatched on Monday, 21 March 2022.
Further information

Further details of the Equity Raising are set out in the Investor Presentation provided on Thursday, 17 February 2022.

Any enquiries should be directed to:

Graham Law
Chief Financial Officer, NZX
graham.law@nzx.com

IMPORTANT INFORMATION
The distribution of this announcement in jurisdictions outside New Zealand and Australia may be restricted by law and you
should observe any such restrictions. Any failure to comply with such restrictions may constitute a violation of applicable
securities laws. In particular, this announcement may not be distributed or released in the United States. This announcement
does not constitute an offer to sell, or the solicitation of an offer to buy, any securities in the United States or in any
jurisdiction in which such an offer would be illegal. The new shares offered and sold in the Retail Entitlement Offer have not
been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) or the securities laws
of any state or other jurisdiction of the United States, and may not be offered or sold, directly or indirectly, in the United
States or to any person that is acting for the account or benefit of a person in the United States (to the extent such person is
acting for the account or benefit of a person in the United States).