Air New Zealand provides update on share buyback programme

Stock exchange listings: New Zealand (NZX: AIR) / Australia (ASX: AIZ) / ADR (OTC: ANZLY)


MARKET ANNOUNCEMENT

Air New Zealand postal address: Private Bag 92007, Auckland, 1142, New Zealand
Investor Relations email: investor@airnz.co.nz
Investor website: www.airnewzealand.co.nz/investor


21 November 2025
Air New Zealand provides update on share buyback programme


Air New Zealand Limited (the Company) announces that, pursuant to section 4.14.2 of the NZX Listing
Rules, it will cancel its on-market share buyback programme with effect from close of trading on
Tuesday 25 November 2025.

The programme commenced in March 2025 and provided for repurchases of up to NZ$100 million over
a period of up to 12 months.

The buyback has been a mechanism to return surplus capital to shareholders after funding the airline’s
operational, growth and liquidity needs. To date, the Company has acquired approximately 133 million
shares for an aggregate consideration of $80 million.

As the airline expects to be within the liquidity target range set out in its Capital Management Framework
by the end of the 2026 financial year, no further purchases will be made under the current programme
after close of trading on Tuesday 25 November 2025.

The Company will continue to manage capital in line with its Capital Management Framework and
preserve flexibility for future opportunities.

Ends.

This announcement is authorised for release on the NZX and ASX by Jennifer Page, General Counsel
& Company Secretary.

For investor relations queries, please contact: For media enquiries, please contact:
Kim Cootes, Head of Investor Relations Air New Zealand Communications
kim.cootes@airnz.co.nz media@airnz.co.nz
+64 272 970 244 +64 21 747 320