Spark New Zealand announces on-market share buy-back

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




MARKET RELEASE - WEDNESDAY, 22 FEBRUARY 2023

Spark New Zealand announces on-market share buy-back

Spark New Zealand Limited (Spark) has announced today that it has allocated up to NZ$350
million to undertake an on-market share buy-back that will commence after the release of the
new 3-year strategy on 5 April 2023.

As mentioned in Spark’s H2 FY22 results and market announcement on 24 August 2022, in July
2022 the Ontario Teachers’ Pension Plan agreed to acquire a 70% interest in Spark’s “TowerCo”
business.

Spark received net cash proceeds of $911 million at completion of the TowerCo transaction,
which occurred on 14 October 2022.

Spark has considered options for returning a portion of the proceeds from this transaction to
shareholders and wishes to proceed with the on-market share buyback of up to $350 million. The
shares will be acquired on the NZX and ASX, at prices that are in line with the prevailing market
price from time to time during the period of the buy-back.

Spark will announce the commencement and further details of the buy-back in line with NZX
Listing Rules requirements (including NZX Listing Rule 4.14.2) in due course.

Leading up to and throughout the period of the buy-back, Spark will continue to assess market
conditions, its prevailing share price, available investment opportunities and all other relevant
considerations. Spark reserves the right to vary, suspend without notice, or terminate the buy-
back programme at any time.

-ENDS-

Authorised by:
Alastair White
GM Capital Markets

For more information contact

For media queries please contact:
Althea Lovell
Corporate Relations Partner
(64) 21 222 2992
althea.lovell@spark.co.nz

For investor queries please contact:
Chante Mueller
Head of Investor Relations
(64) 27 469 3062
chante.mueller@spark.co.nz


About Spark
As New Zealand's largest telecommunications and digital services company, Spark’s purpose is to
help all of New Zealand win big in a digital world. Spark provides mobile, broadband, and digital
services to millions of New Zealanders and thousands of New Zealand businesses.
www.sparknz.co.nz