Update on sale of 50% interest in Vector Metering

Market Release
Date: 4 April 2023


Update on sale of 50% interest in Vector Metering – financing condition
satisfied
As stated in Vector’s 21 December 2022 announcement, Vector (NZX:VCT) has
entered into a conditional agreement with QIC Private Capital Pty Limited (QIC) for
the sale of a 50% interest in Vector’s New Zealand and Australian metering business
(Vector Metering) to investment vehicles managed and advised by QIC.
The announcement stated that the parties expected to enter into definitive
documentation in respect of the sale in Q1 2023, with completion conditional on
consent under the Overseas Investment Act in New Zealand, approval under the
Foreign Acquisitions & Takeovers Act in Australia, and finalisation of third-party
financing arrangements.
Vector confirms that definitive sale documentation has been executed and the
condition relating to finalisation of third-party financing arrangements has now been
satisfied. Completion of the sale remains conditional on Overseas Investment Act
and Foreign Acquisitions & Takeovers Act approvals. Assuming those regulatory
approvals are obtained, completion of the sale is expected to occur in Q2 2023.


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

Media contact
Matthew Britton, Senior Communications Partner, Vector
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