Update on Vector Metering strategic review

creating a new energy future


Update on Vector Metering strategic review and response to media speculation

As announced on 6 April 2022, Vector has commenced a strategic review of its smart
metering business, Vector Metering. The business provides innovative smart meter data
services from more than two million electricity and gas meters throughout New Zealand and
Australia.

Vector is aware of media speculation in the Australian media in relation to what is described
as an upcoming “auction” of the Vector Metering business. The media names potentially
interested parties, refers to Vector offering a 50% stake in the business and to the business’
potential enterprise value.

Vector’s strategic review of the metering business has progressed to the point that Vector
has commenced a process inviting proposals for a potential partner to invest in the business
alongside Vector.

There is no certainty that the strategic review will result in any transaction, nor if a transaction
were to occur, its terms or the transaction value achieved.

Vector expects to announce the outcome of the strategic review by the end of the calendar
year. Other than to the extent required by its continuous disclosure obligations, Vector does
not intend to address any further media speculation on the review.

ENDS

Investor contact
Jason Hollingworth, Chief Financial Officer, Vector
Jason.hollingworth@vector.co.nz, 021 312 928

Media contact
Matthew Britton, Senior Communications Partner
Matthew.britton@vector.co.nz, 021 224 2966

About Vector
Vector is an innovative New Zealand energy company which runs a portfolio of businesses
delivering energy and communication services to more than one million homes and
commercial customers across Australasia, and the Pacific. Vector is leading the country in
creating a new energy future through its Symphony strategy which puts customers at the
heart of the energy system. Vector is listed on the New Zealand Stock Exchange with ticker
symbol VCT. Our majority shareholder, with voting rights of 75.1%, is Entrust. For further
information, visit www.vector.co.nz




market release
12 August 2022