Completion of Retail Bookbuild and Equity Raising

NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES

Completion of Retail Bookbuild, concluding the Equity Raising

16 March 2022 - NZX Limited ("NZX") advises that it has completed the retail shortfall bookbuild component ("Retail
Bookbuild") of its underwritten 1 for 9 accelerated pro-rata renounceable entitlement offer ("Entitlement Offer”). As a result,
NZX has now completed its equity raising, as originally announced on Thursday, 17 February 2022 (“Equity Raising”).

Approximately NZ$44 million was raised via the Equity Raising. The proceeds of the Equity Raising will be used to fund our
investment into Global Dairy Trade, replenish our balance sheet following the settlement of the acquisition of the
management rights to the ASB Superannuation Master Trust on 11 February 2022, and also provide capacity to support the
investment across our market platform as we continue to scale our growth businesses.

The 12,912,670 new shares not taken up under the retail shortfall bookbuild will be distributed to the institutions who sub-
underwrote of the Entitlement Offer. These institutions included a number of long-term existing shareholders and new
shareholders.

NZX CEO Mark Peterson said, “We are very pleased to have completed the equity raise in the face of the significantly adverse
market conditions observed over the last few weeks. Prior to the developments in the Ukraine / Russia situation, we were
delighted with the strong support shown by institutional investors in the institutional offer and institutional shortfall
bookbuild, which saw a clearing price achieved which was well in excess of the offer price. While demand in the retail
component of the offer has been impacted by market conditions, we are pleased with the strong support for NZX from a
number of existing institutional shareholders who sub-underwrote the majority of the retail component of the equity raise.
The proceeds from the capital raise allows us to continue to invest across our market platform and deliver on our strategic
priorities whilst retaining a very strong balance sheet.”

The NZX settlement date for new shares issued under the Retail Entitlement Offer and Retail Bookbuild is Friday, 18 March
2022. Allotment of the New Shares on the NZX, is also expected to occur on Friday, 18 March 2022. 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 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).