VCT announces conditional sale agreement for its LPG assets

Market Release
26 July 2024
Vector announces conditional sale agreement
for its LPG assets

Vector (NZX: VCT) advises that is has entered into a conditional agreement for the sale of its
liquified petroleum gas (LPG) business, Vector Ongas, and its 60.25% shareholding in
Liquigas Limited, for $150 million.

Vector Ongas is one of New Zealand’s largest suppliers of LPG to homes and businesses
throughout the country. Liquigas provides infrastructure services to support the bulk
distribution and storage of LPG throughout New Zealand.

Vector group chief executive Simon Mackenzie said “Vector has grown Ongas over the years
and the timing is right to sell it now. A process was run, which led to an offer for Vector Ongas
and the Liquigas shareholding.”

“This will enable us to concentrate on leading the energy transition, through our networks and
technology solutions.”

The agreement has a number of regulatory approvals and commercial conditions to satisfy. It
is anticipated this will take until late 2024/early 2025 to complete. We will work with the buyer
to ensure a smooth handover for Ongas staff and customers.



Investor contact
Jason Hollingworth, Chief financial officer
Jason.hollingworth@vector.co.nz 021 312 928

Media contact
Jane Luscombe, GM PR and communications
jane.luscombe@vector.co.nz 021 76 79 70



About Vector
Vector is an innovative New Zealand energy company, which runs a portfolio of businesses
delivering energy and communication services to more than 600,000 residential and
commercial customers across New Zealand. Vector has a leading role 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.