Air New Zealand Investor Update (Op Stats) – March 2022

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Contents
• March 2022 traffic highlights
• Operating statistics table
• Recent market announcements and media releases


March 2022 highlights



















Group traffic summary
20222021
% *20222021
% *
Passengers carried (000)624828(24.6%)4,9266,
038(18.4%)
Revenue Passenger Kilometres(m)
70548844.4%3,6443,923(
7.1%)
Available Seat Kilometres (m)1,16283439.3%6,4817,
143(9.3%)
Passenger Load Factor (%)60.7%58.6%2.1 pts56.2%54.
9%1.3 pts
Year-to-date RASK
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Group(12.4%)(12.3%)
Short Haul(16.3%)(
16.3%)
Long Haul(5.8%)(5.1%)
MARCH
% change in reported RASK
(incl. FX)
% change in underlying RASK
(excl. FX)
FINANCIAL YTD
* % change is based on numbers prior to rounding.
Please note that the available seat kilometre (capacity) numbers included in the tables within this disclosure do not include any cargo-only flights.
This is because these capacity numbers are used to calculate passenger load factors and passenger RASK
1
Reported RASK (unit passenger revenue per available seat kilometre) is inclusive of foreign currency impact, and underlying
RASK excludes foreign currency impact.
9 May 2022

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Operating statistics table




GroupMARCHFINANCIAL YTD
20222021% *20222021% *
Passengers carried (000)624828(24.6%)4,9266,038(18.4%)
Revenue Passenger Kilometres(m)70548844.4%3,6443,923(7.1%)
Available Seat Kilometres (m)1,16283439.3%6,4817,143(9.3%)
Passenger Load Factor (%)60.7%58.6%2.1 pts56.2%54.9%1.3 pts
Short Haul T otalMARCHFINANCIAL YTD
20222021% *20222021% *
Passengers carried (000)604822(26.6%)4,8675,979(18.6%)
Revenue Passenger Kilometres(m)49943714.1%3,0503,336(8.6%)
Available Seat Kilometres (m)80063725.5%4,8005,014(4.3%)
Passenger Load Factor (%)62.4%68.6%(6.2 pts)63.5%66.5%(3.0 pts)
DomesticMARCHFINANCIAL YTD
20222021% *20222021% *
Passengers carried (000)512811(36.9%)4,5955,853(21.5%)
Revenue Passenger Kilometres(m)265410(35.4%)2,3053,054(24.5%)
Available Seat Kilometres (m)495539(8.3%)3,4354,020(14.6%)
Passenger Load Factor (%)53.6%76.1%(22.5 pts)67.1%76.0%(8.9 pts)
Tasman / PacificMARCHFINANCIAL YTD
20222021% *20222021% *
Passengers carried (000)9211727.0%272125117.0%
Revenue Passenger Kilometres(m)23427773.1%744283163.5%
Available Seat Kilometres (m)30598211.7%1,36599337.4%
Passenger Load Factor (%)76.7%27.4%49.3 pts54.6%28.4%26.2 pts
Long Haul T otalMARCHFINANCIAL YTD
20222021% *20222021% *
Passengers carried (000)205302.9%5959(0.8%)
Revenue Passenger Kilometres(m)20651302.7%5945871.2%
Available Seat Kilometres (m)36219784.1%1,6822,129(21.0%)
Passenger Load Factor (%)56.9%26.0%30.9 pts35.3%27.6%7.7 pts
AsiaMARCHFINANCIAL YTD
20222021% *20222021% *
Passengers carried (000)52240.0%1728(39.3%)
Revenue Passenger Kilometres(m)4615207.9%151257(41.4%)
Available Seat Kilometres (m)132138(4.4%)8101,233(34.3%)
Passenger Load Factor (%)34.4%10.7%23.7 pts18.6%20.8%(2.2 pts)
AmericasMARCHFINANCIAL YTD
20222021% *20222021% *
Passengers carried (000)153332.1%423233.3%
Revenue Passenger Kilometres(m)16036341.3%44333034.5%
Available Seat Kilometres (m)23058294.7%871896(2.7%)
Passenger Load Factor (%)69.9%62.5%7.4 pts50.9%36.8%14.1 pts
* % change is based on numbers prior to rounding
Air New Zealand operates primarily in one segment, its primary business being the transportation of passengers and cargo on an integrated network of
scheduled airline services to, from and within New Zealand. The following operational data and statistics is additional supplementary information only.

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Market Announcements
(during the period 25 March 2022 to 8 May 2022)

Air New Zealand completes Shortfall Bookbuild, concluding 5 May 2022
its NZ$1.2 billion equity raise

Air New Zealand is pleased to announce that it has completed the shortfall bookbuild component of its 2 for
1 pro rata renounceable rights offer ("Rights Offer”) announced on 30 March 2022. A total of NZ$1.2 billion
was raised under the Rights Offer and shortfall bookbuild. These proceeds will be used to repay the airline’s
existing Crown loan, strengthen its balance sheet, improve liquidity and help position Air New Zealand for
recovery.

Shortfall Bookbuild

A bookbuild for shares not taken up under the Rights Offer, including the shares attributable to Ineligible
Shareholders, was conducted after market close on 3 May 2022 and on 4 May 2022 (“Shortfall Bookbuild”).
The Shortfall Bookbuild of approximately 274 million shares was well supported by existing shareholders and
new investors and a price of NZ$0.81 per share was determined (“Bookbuild Price”). This Bookbuild Price
represents a premium of NZ$0.28 per share over the Offer Price of NZ$0.53 per share. Eligible Shareholders
who elected not to take up their entitlements and Ineligible Shareholders will, therefore, receive NZ$0.28 for
each share sold for their benefit in the Shortfall Bookbuild. Payment of this premium is expected to be made
to those groups by Monday, 16 May 2022.

Eligible Shareholders who applied for Additional New Shares in the Shortfall Bookbuild will be allocated
shares at the Bookbuild Price.

As a result of the significant demand received in the Shortfall Bookbuild scaling has been applied (including
with respect to oversubscriptions) in accordance with the terms set out in the Offer Document dated 30 March
2022. Refunds from scaling of any extra application monies received for additional shares in the Shortfall
Bookbuild will be processed by 16 May 2022.

Air New Zealand Chair, Dame Therese Walsh, said: “The Rights Offer was structured to provide all eligible
Air New Zealand shareholders with a fair opportunity to participate in the equity raise or receive value for their
rights. We are delighted with the level of support shown for Air New Zealand by existing and new shareholders
and to have been able to return value to those shareholders who did not or were ineligible to participate.”

Settlement and allotment

ASX Shares: Settlement of ASX shares for the Rights Offer and Shortfall Bookbuild occurred on Friday, 6
May 2022, with allotment on Monday, 9 May 2022.

NZX Shares: Settlement and allotment of NZX shares are both expected to occur on Monday, 9 May 2022.

Trading of new shares commences: Trading of new shares issued under the Rights Offer and Shortfall
Bookbuild is expected to commence on NZX and on ASX on Monday, 9 May 2022.

Ranking of new shares: All new shares issued under the Rights Offer will rank equally with Air New Zealand’s
existing ordinary shares.

Defined terms in this announcement have the meaning given to them in the Offer Document.

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Air New Zealand announces opening of Rights Offer 6 April 2022

On 30 March 2022, Air New Zealand announced the launch of a 2 for 1 pro rata renounceable rights offer
(Rights Offer) of new fully paid ordinary shares in Air New Zealand (New Shares) to raise $1.2 billion as part
of its recapitalisation plan.

Air New Zealand is now pleased to invite eligible shareholders to apply to participate in this Rights Offer which
opens on 6 April and closes at 5.00pm (NZST) / 3.00pm (AEST) on 2 May 2022.

Under the Rights Offer, for each existing share held in Air New Zealand at 7.00pm (NZST) / 5.00pm (AEST)
on 5 April 2022 an eligible shareholder will receive one right to subscribe for 2 New Shares at the offer price
of NZ$0.53 per New Share (or A$0.49 per New Share) (a Right). Eligible shareholders who take up their
Rights in full also have the opportunity to apply for additional New Shares in a shortfall bookbuild process,
as described in the Offer Document.

Air NZ launches comprehensive recapitalisation package 30 March 2022
Air New Zealand is launching a comprehensive NZ$2.2 billion recapitalisation package to help position the
airline for recovery.
The recapitalisation has been sized with a view to maintaining Air New Zealand’s investment grade credit
rating (Moody’s Baa2 – stable outlook) and to support the execution of Air New Zealand’s strategic priorities.
The package includes a $1.2 billion pro rata renounceable Rights Offer, allowing eligible shareholders an
opportunity to buy additional shares in Air New Zealand at a discount relative to the prevailing share price.
Air New Zealand Chair Dame Therese Walsh, said: “While there will still be bumpy skies ahead over the next
few years, the moment is right for Air New Zealand to raise equity, recapitalise its balance sheet and repay
the loan it received from the Crown during the Covid crisis. This is an important step in refuelling for our
recovery. The Rights Offer we are launching today is structured to provide all eligible Air New Zealand
shareholders with a fair opportunity to participate.”
Details of the recapitalisation package
Air New Zealand’s recapitalisation comprises:
• A pro rata renounceable rights offer of ordinary shares to Eligible Shareholders to raise NZ$1.2 billion
(Rights Offer). The Crown has committed to supporting the Rights Offer and will participate in the
Offer to ensure it holds a 51% shareholding in Air New Zealand on completion of the Rights Offer.
The Rights Offer, other than the Crown participation, is underwritten
• NZ$600m of redeemable shares to be issued to the Crown under the existing subscription agreement
previously announced on 14 December 2021 (Redeemable Shares)
• A new committed unsecured 4-year Crown Loan of NZ$400 million (New Crown Loan)

Air New Zealand updates FY22 loss guidance
On 24 February 2022, Air New Zealand announced with its FY2022 interim results that its expectation at that
time was that the 2022 financial year will incur a loss before taxation and other significant items that exceeds
$800 million.

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Air New Zealand has seen some benefits from the limited period of sales after the Government’s recent
announcement accelerating the plan to open New Zealand’s borders, but a large degree of uncertainty
remains.
Air New Zealand now expects its FY2022 full year result to be a loss before other significant items and taxation
of less than $800 million. Beyond FY2022, further losses are expected to be incurred in the near-term with
the amount of such losses subject to the level and pace of the return of demand.
Air NZ awarded international cargo flights to March 2023 28 March 2022
Air New Zealand has been awarded a further twelve months of support for cargo flights under an extension
of the Government’s Maintaining International Air Connectivity scheme (MIAC scheme). This contract is for
freight capacity operating from 1 April 2022 through to 31 March 2023. The MIAC scheme has helped keep
New Zealand connected to its global trade partners and allow for essential international travel to continue
while international borders remain effectively closed.
The latest extension of the MIAC scheme was announced by the Government in March 2022. The scheme
continues to support a predictable and regular schedule of international air services during the Covid-19
pandemic. Under the scheme, the Government provides financial assistance to airlines that are awarded
cargo flights, to support maintaining critical air connectivity and provide a base schedule for the rebuilding of
international passenger services.
The MIAC scheme extension to March 2023 provides for the level of support to reduce over time to reflect an
expected recovery of international passenger demand over the period.
Under the most recent extension, the airline has been initially awarded support for approximately 60 flights
per week to destinations including Los Angeles, Vancouver, Hong Kong, Shanghai and key Pacific Islands
and Australian ports.
The Government financial support for flights within this twelve-month period is expected to contribute up to
approximately $180 million towards the airline’s cargo revenue. For context, in the first half of the current 2022
financial year, support from the scheme contributed $182 million to the airline’s total cargo revenue.
Media Releases
(during the period 25 March 2022 to 8 May 2022)

Air New Zealand to boost contact centre staff as Kiwis start to book travel 7 May 2022

Air New Zealand has seen an increase in bookings as customers rush to take advantage of open borders.
While it’s welcome news for the airline and New Zealand, it is not without challenge.

Air New Zealand Chief Customer and Sales Officer Leanne Geraghty says, “Bookings on our domestic
network are increasing as people start to travel again, and it’s fantastic to see international bookings flow in
as we restart popular routes like Honolulu, Vancouver and San Francisco. Just this week, we operated more
than 200 international flights, the highest in a long time.
“For a lot of our customers, these trips will be their first in more than two years, and it’s different to what it
used to be. The new travel environment is complex, and what we’re hearing from our customers is that they
have a preference to speak to a person rather than booking online or using an app.
“Previously around 1 in 8 customers called us before travel, now we are seeing around 1 in 3. This is leading
to not only more calls, but also longer call times, with the average call handling time being around 16 minutes

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– approximately 50% longer than pre-Covid. While we have been recruiting into our contact centre since
December last year, we just can’t keep up with the number of calls.”
The airline is looking to add 200 additional consultants, taking the total to more than 450 dedicated staff
answering customer queries once training is complete in 8 weeks’ time. It's also redeploying other staff to
help out where possible.
“At the moment, it’s taking us a lot longer to respond to customers than we would like, with some waiting
hours to speak to someone. This is frustrating for our customers and stressful for our teams and we’d like to
thank everyone for their patience. We want to get back to providing world class customer service and we’re
asking our loyal customers to bear with us over the next couple of months as we ramp up and get new team
members onboard.”

Air New Zealand highlights Māori culture and values in new safety video 5 May 2022

As New Zealand reopens to the world, Araraurangi Air New Zealand has launched a new safety video, and
this time it’s the story of the Tiaki Promise. A promise that encourages both New Zealanders and
international visitors to care for our place, our culture and our people.

The story follows Tiaki, a young man who boards a waka rererangi (flying canoe) and sets off on an
adventure across Aotearoa. With the help of Air New Zealand and Julie (a character that embodies the rest
of New Zealand), he visits four Māori guardians including Papatūānuku (the land), Tangaroa (sea), Tāne
Mahuta (forest) and Ranginui (sky). Along the way he seeks advice from these guardians on how better to
look after them.

Air New Zealand General Manager Brand and Marketing Jeremy O’Brien says as people start to return to
Aotearoa, this safety video is an invitation to them to act as guardians while they’re here.

“We want tourism to build back better than it was before and part of that is to share with our visitors a sense
of kaitiaki – to encourage them to act like guardians of our country. Our safety videos are world renowned
and through them, we have an opportunity to educate and inspire ourselves, our customers and Aotearoa
on the importance of Tiaki and everything it stands for. It’s about being good hosts, and good visitors.

“Julie’s character in the safety video is there to show that caring for New Zealand isn’t something Tiaki can
do alone. It requires all of us to follow the Promise and commit to protecting Aotearoa for future generations
to come.

“I’d like to thank Pou Tikanga and storyteller, Joe Harawira, New Zealand Māori Tourism and the New
Zealand Māori Arts & Crafts Institute for guiding us, right from concept to the building of the waka, and the
cultural formalities we followed throughout. The collaborative effort has helped us share this story and the
principles of Tiaki authentically.”

The airline worked closely with the New Zealand Māori Arts and Crafts Institute to design the waka and its
carvings. From there it was taken to the various filming locations and flown on wires to create real shadows
and textures for post-production.

Tiaki and the Guardians will be rolled out across Air New Zealand's international and domestic fleet from
Monday, 9 May 2022 and is available to view online here.



Air New Zealand to centralise its Auckland operation and invest for the future 27 April 2022

Air New Zealand will bring its central Auckland team into the heart of its operation, future-proofing its
infrastructure and reducing its property costs via a multi-year investment at its Auckland airport base.

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The airline will begin building a new aircraft hangar and has approved in-principle a project to centralise its
Auckland workforce at a refurbished airport campus. The four-year investment will create a world-class
aviation facility for Air New Zealand employees and its aircraft as the airline rebuilds.

Air New Zealand Chief Executive Officer Greg Foran says this dual investment is part of its long-term strategy
to unleash the airline’s full potential.

“We’ve spent the last two years looking at how we can set ourselves up for success as we revive our airline.
We know we work best when we work together, and we have plenty of underutilized space at the airport
campus to make that happen.”

“We’ll be creating an environment where the people who plan our future work alongside those who operate
our aircraft and work with our customers every day. Globally, this way of working is delivering exceptional
results for customers and shareholders, and this is the right time to get ready for a move as we prepare for
the global recovery in aviation.”

Mr Foran says the majority of Air New Zealanders are based in Auckland and it’s expected they’ll move to the
airport campus in 2024.

“We have more space than we need in the Auckland CBD and are already paying for a precinct at the airport
that has more than enough space to meet even our most ambitious growth projections. With building costs
increasing and our CBD leases coming to an end, this is the time to get started on the work to bring our people
together.

“The way people work has changed – this is our opportunity to set up a world class hybrid work environment,
with cutting edge digital technology so our people have the right tools to build on our history of innovation and
deliver great experiences for our customers.”

Moving the city office to the airport will consolidate office space, significantly reducing the airline’s property
footprint, and reducing costs by 20% over 15 years. After design and construction phases, the move is likely
to occur in 2024.

“Rather than building a brand-new space, we’re refurbishing the existing one to bring our people together.
There’s a lot of history in the current building, and if walls could talk, they’d have some terrific success stories
to tell. We want to hold on to that and celebrate the history of the airline.”


Air New Zealand resumes flights to more North American destinations 14 April 2022

Air New Zealand resumes its non-stop service to San Francisco on 14 April, and looks forward to resuming
services to Honolulu on 4 July and to Houston on 7 July.

This follows the airline recently announcing commencement of its new service between Auckland and New
York, JFK from 17 September 2022, and the airline carrying passengers daily between Auckland and Los
Angeles since March this year. Air New Zealand has also been flying three times a week to Vancouver since
February.

The services to San Francisco will initially operate three times a week with state-of-the-art Boeing 787
Dreamliner aircraft, meaning that customers flying these routes will be able to enjoy the airline’s uniquely kiwi
Business Premier, Premium Economy and Economy Skycouch product offerings.

The configuration of the Boeing 787 Dreamliner that will service these routes offers more Premium
seats than
other Dreamliners in the airline’s fleet.

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“Recommencing services across our North America routes as the border reopens is another step towards the
gradual resumption of flights to destinations across our international network,” says Air New Zealand Chief
Customer and Sales Officer Leanne Geraghty.

“Our North America network plays a key role in our Kia Mau Thrive strategy, so it’s great to be able to reopen
another important port into the region. San Francisco is a year-round destination for Kiwis and equally, an
important departure point for Americans looking to visit New Zealand and Australia.”

“With our strong partnership with United Airlines, our customers can fly daily to hundreds of domestic
destinations across the USA. And with our Star Alliance and other alliances partners, we also offer multiple
international connecting opportunities to Canada, UK and Europe.”


Air New Zealand welcomes Aussies back with open arms! 13 April 2022

It’s the day New Zealand has been waiting for, Air New Zealand is ready to welcome over 4,000 customers
on board as the border restrictions between Australia and New Zealand are removed.

The airline has eleven near-full flights arriving from Melbourne, Sydney, Gold Coast, Brisbane and Perth with
the first touching down at 6:00am from Perth into Auckland.

Air New Zealand Chief Customer and Sales Officer Leanne Geraghty says, “This is the first step in welcoming
international visitors back to our shores and we couldn’t be more excited for both New Zealand and Air New
Zealand”.

“We’ve seen high demand across the Tasman with Aussies keen to reconnect with friends and whānau both
in New Zealand and Australia.

To help with this, last week we added an extra 96 trans-Tasman flights for April through to June, an increase
of approximately 20,000 seats. We’ve also been ramping up capacity for the winter period so Aussies can
enjoy our fantastic ski slopes here in New Zealand.”

Air New Zealand is also gearing up its schedule from 11:59pm 1 May 2022 when visitors from visa waiver
countries can enter Aotearoa without isolation.


Air New Zealand adjusts travel requirements for orange traffic light setting 13 April 2022

As New Zealand moves through the peak of Omicron and the country moves to the orange traffic light setting,
Air New Zealand will be adjusting some of its travel requirements.

From 14 April, customers will no longer be required to show proof of vaccination or negative test to fly around
Aotearoa, and from 1 May 2022, it will remove its no jab, no fly vaccination policy for international customers.

The airline will also begin to welcome back its much-loved food and beverage offering on domestic flights
from Friday 15 April.

Air New Zealand Chief Executive Officer Greg Foran says as New Zealand has seen a drop in transmission
and is overall, a highly vaccinated population, removing some of the requirements makes sense.

“As Omicron took hold in the community, we put in place several temporary measures aimed at keeping our
employees, customers and New Zealand safe. After a careful risk assessment, we feel now is the right time
to step back some of those measures.

“New Zealand is moving back towards a sense of normality. We’re seeing customers return to our domestic
network and we’re welcoming back Australians from today. We’re aware that Covid is not behind us yet and

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we have taken a considered approach and will continue to revise safety measures depending on what we’re
seeing here in New Zealand and around the world.

“I would like to send a heartfelt thanks to our customers for the support they’ve shown us throughout the
pandemic, most notably while this requirement was in place.

“It’s terrific to finally be getting our food and beverage service back up and running again, we know it’s
something our customers look forward to when they fly with us.”
Masks will still be required onboard under the orange traffic light setting for customers and employees.

Air New Zealand’s Domestic Flexibility Policy is in place until 30 April meaning customers with a booking up
until 30 April 2022 who no longer wish to travel can opt into credit or change their flight with no change fees.

Singapore latest destination to resume as flight touches down 30 March 2022

The first Air New Zealand flight from Singapore in over 720 days arrived into Auckland on 29 March marking
the resumption of services to the Southeast Asian nation.

“This is a special moment for Air New Zealand and our two countries. Singapore is the gateway to Southeast
Asia, and a melting pot of people, business, design and ideas. Moreover, our customers can connect to 98
other destinations through alliance partner Singapore Airlines,” says Air New Zealand Chief Customer and
Sales Officer Leanne Geraghty.

“We're excited to bring Kiwis and Singaporeans back to New Zealand. Early response and demand since the
announcement on the reopening of borders have been positive for the first flights both in and out of Singapore.
Off the back of our New York launch last week, it's great to have one of our key Asia destinations back up
and running.”

“Air New Zealand, together with alliance partner Singapore Airlines, will fly up to 14 services every week
between Singapore and Auckland to meet demand for flights between the two destinations and beyond.”

Air New Zealand's first flight arrived just ahead of the Singaporean Government easing cross-border travel
restrictions from 1 April, meaning fully vaccinated customers will be able to enter the Lion City without needing
to quarantine or isolate.

Updated international flight schedule
Destination (from
Auckland)
Commencing from
Rarotonga Already operating
Nadi Already operating
Tonga Already operating
Apia Already operating
Sydney Already operating
Melbourne Already operating
Brisbane Already operating
Gold Coast Already operating
Perth Already operating
Los Angeles Already operating
Vancouver 16 February

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Singapore 27 March
San Francisco 14 April
Honolulu 4 July
Cairns 5 July
Tahiti 6 July
New Caledonia 6 July
Adelaide 6 July
Houston 7 July
Hobart 7 July
New York 17 September
Chicago 30 October
Christchurch

Brisbane
Already operating
Sydney
Already operating
Melbourne
Already operating
Gold Coast 3 July
Nadi 5 July
Wellington

Brisbane 31 March
Sydney 5 April
Melbourne 4 April
Nadi July
Queenstown

Brisbane 24 June
Melbourne 24 June
Sydney 25 June

Air New Zealand Airpoints™ renews its partnership with ANZ 25 March 2022

Air New Zealand and ANZ Bank New Zealand have renewed their existing partnership relating to the Air New
Zealand Airpoints™ programme for another five years.

The strategic partnership between the two iconic brands was first established in 2010 and since then has
provided thousands of ANZ Airpoints Visa cardholders with Airpoints Dollars™ and a range of other card
benefits.

Air New Zealand General Manager Loyalty Kate O’Brien says the re-signing of ANZ will breathe new life into
one of the oldest partnerships in the Airpoints™ programme.

"This renewed partnership comes at a pivotal moment for the Air New Zealand Airpoints programme and we’ll
be working closely with ANZ to explore new products and services to enhance the experience for our mutual
customers."

ANZ Managing Director for Personal Banking Ben Kelleher said it’s good timing for customers looking to build
their Airpoints balance as international travel starts to open up.

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“We’re delighted to continue our relationship with Air New Zealand Airpoints. It’s great news for many ANZ
New Zealand customers who continue to enjoy the range of benefits of using an ANZ Airpoints Visa for their
everyday banking needs, particularly those with their eye on an overseas holiday or other special purchase.”

With New Zealand’s border restrictions easing in the coming weeks, customers with an ANZ Airpoints Visa
card will be able to start flying more frequently again as they earn Airpoints Dollars faster. Airpoints credit
card holders on average earn nine times more Airpoints Dollars than non-Airpoints credit card holders.

The re-signing of ANZ strengthens the Airpoints programme. Following the recent announcement of a new
Airpoints earning partnership with Smiths City and increased product range on the Airpoints Store, Air New
Zealand’s loyalty programme offers more choice and greater rewards to valued Airpoints members.

Each year, 2.6 million Airpoints members in New Zealand enjoy access to a wide range of rewards they can
purchase with Airpoints Dollars, including flights, gifts and experiences from the Airpoints Store, and other
travel-related products.

For more information, visit www.airnewzealand.co.nz/airpoints-partner-anz or www.anz.co.nz/airpoints
.