Manawa Energy Chief Executive Changes

Infratil Limited 5 Market Lane, PO Box 320, Wellington, New Zealand Tel +64-4-473 3663 www.infratil.com
29 August 2023


Manawa Energy Chief Executive Changes

Manawa Energy Limited (Manawa Energy), in which Infratil is a 51% shareholder, today
announced that Chief Executive, Dr David Prentice, has resigned from his position with effect
from 8th September 2023.

Manawa Energy also announced that Mr Clayton Delmarter will become interim Chief Executive
from 11th September 2023.

A copy of the Manawa Energy release is attached.



Any enquiries should be directed to:

Mark Flesher, Investor Relations, Infratil Limited
info@infratil.com

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ANNOUNCEMENT
29 August 2023

Manawa Energy announces Chief Executive change
Manawa Energy Chief Executive Dr David Prentice has resigned from his position with effect from 8th
September 2023, after the Manawa Energy Board agreed to a shortened notice period.
Dr Prentice first joined the company as a director in 2019 and agreed to become interim Chief Executive in
early 2020, with his permanent position being confirmed in 2021.
Manawa Energy Chair Deion Campbell said: “During his time with Manawa Energy, David has successfully
steered the company through the unprecedented Covid-19 related disruptions and then led the strategic
change process, which resulted in the sale of the Trustpower retail business in 2022 and subsequent
rebranding to Manawa Energy. The challenges associated with this scale of corporate change cannot be
underestimated and the company’s smooth transition to New Zealand’s largest independent power producer
is thanks to David’s leadership.
“In the short time since the retail business was sold, David has driven the growth of Manawa Energy’s now
significant pipeline of renewable generation development options, which strongly positions the company to
create value by taking a role in the ongoing decarbonisation of New Zealand’s economy.
“The Board thanks David for his leadership and wishes him well for his future endeavours. We believe his
ongoing interest in the reduction of greenhouse gas emissions will mean our paths will cross again and we
look forward to that.”
Dr Prentice said: “The last four years, first as a director, then as Chief Executive of Manawa Energy have been
an incredible privilege and I am very proud of what we have achieved in that time. However, now that we
have successfully set up Manawa Energy, it's time for someone else to lead the company on the next phase
of its growth and allow me some time back to spend with family prior to working on the next opportunity.
“I’d like to thank the Board for allowing me this opportunity and everyone in Manawa Energy for making the
last four years so memorable.”
Manawa Energy also announces that Clayton Delmarter will become interim Chief Executive from 11
September 2023. He is currently seconded to Manawa Energy for three days a week and is an employee of
HRL Morrison & Co, which manages Manawa Energy’s largest shareholder Infratil Limited (NZX:IFT). He will
be seconded full-time into the Chief Executive role until the position is permanently filled, following a
comprehensive recruitment process, which the Board will commence shortly.
Mr Delmarter has a long history with Manawa Energy, having started in the Generation team in 2002 where
he was instrumental in the development and execution of the renewable energy and irrigation projects
undertaken by Trustpower until the demerger of Tilt Renewables in 2016. He was Executive General Manager
Renewables Development at Tilt Renewables and successfully executed on several growth opportunities until
the sale of that company in 2021. He has been with HRL Morrison & Co since early in 2022.

Mr Campbell said: “The Board is pleased HRL Morrison & Co has made Clayton available to Manawa Energy
for this interim role. Clayton is an outcome-focused and commercially astute executive leader, with a very
good understanding of the Manawa Energy business, and his efforts will ensure the company maintains
momentum with the efficiency and growth opportunities currently available to it.”
-ends-


Investor enquiries:
Phil Wiltshire
GM Corporate Services
Ph 027 582 6600
investor.relations@manawaenergy.co.nz

Media enquiries:
Paul Ford
Head of Corporate Relations
Ph 021 809 589
paul.ford@manawaenergy.co.nz

NOTES
About Manawa Energy Limited
Manawa Energy is Aotearoa New Zealand’s largest independent electricity generator and renewables
developer. We have 26 power schemes throughout New Zealand and a total installed capacity of 510
megawatts, generating an average of 1942 gigawatt hours of electricity per year. We supply around 650
commercial and industrial customers via 6,400 electricity connections.
Manawa (meaning ‘heart’) acknowledges our heritage establishing electricity generation on the Omanawa
River in the Kaimai area during the early 1900s. Our name was gifted by Ngāti Hangarau hapū, mana whenua
of the area where our Kaimai hydro-electric power scheme is located.