Sale of UFB funding securities to proceed

Chorus Limited
Level 10, 1 Willis Street
P O Box 632
Wellington
New Zealand

Email: company.secretary@chorus.co.nz



STOCK EXCHANGE ANNOUNCEMENT

17 December 2025

Government announces sale process for UFB funding securities will proceed

The Minister of Finance and the Minister for Infrastructure have today announced that they have
accepted a recommendation from the board of National Infrastructure Funding and Financing
(NIFFCo) to commence a sale process in relation to the securities NIFFCo holds in Chorus Limited.

The securities have a total face value of $1.16 billion. This represents the remaining balance of the
funding the Crown provided to Chorus for the Ultra Fast Broadband rollout following the repayment
of $170 million by Chorus this year.

Chorus does not anticipate any material change to the terms and conditions on which the securities
were issued as a result of the sale process.

The Ministers announcement can be found here.

Authorised by:

Drew Davies
Chief Operating Officer

ENDS

For further information:

Shannon Goldstone
Head of Corporate Relations
Mobile: +64 (21) 712 679
Email: Shannon.Goldstone@chorus.co.nz

Aleida White
Head of Investor Relations
Mobile: +64 (21) 155 8837
Email: Aleida.White@chorus.co.nz