Q2 FY26 Connections Update

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

Email: company.secretary@chorus.co.nz


STOCK EXCHANGE ANNOUNCEMENT

30 January 2026


Q2 FY26 Connections Update

Chorus today released its connections update for the Q2 FY26 period from 30 September
2025 to 31 December 2025.

Data demand remains strong

Fibre usage continued its upward trajectory, with December 2025 average fibre usage at
highest ever levels of 699GB. This was despite the traditionally low Christmas holiday
period. Year on year, the monthly average data usage on fibre for December was up
9%.

Chorus recorded its highest ever data usage day on 30 November 2025 with over 31
petabytes (PB) of data transferred by Chorus fibre network following the Fortnite “Pacific
Break” game update.

Steady fibre connection growth

Total fibre connections were 1,129,000 at end December and increased by approximately
7,000 lines in the quarter. This growth offset a decline of approximately 6,000 copper
lines in Chorus’ fibre areas.

Fibre uptake across Chorus’ wider fibre network footprint, excluding other local fibre
company areas, lifted by 0.2% to 72.4%. Fibre uptake in UFB2 rollout areas, completed
between 2018 and the end of 2022, lifted slightly but remained at 63% due to rounding.

During the quarter, another 5,000 addresses were passed by fibre.

Copper retirement in Chorus fibre areas by mid-2026

Chorus’ total fixed line connections reduced by 8,000 lines, consistent with the trend in
the prior quarter. This continued to reflect the combination of lower copper connections,
partly offset by growth in fibre connections.

Another 15,000 copper lines disconnected in the quarter, leaving about 63,000 in service
nationwide at the end of December. Just 3,000 of these lines remain in service in Chorus’
fibre areas, with copper services in these areas on track to be retired by mid-2026.
In areas where fibre is not available, Chorus saw about 7,000 copper customers choose
to migrate to alternative network options in the quarter. This leaves approximately
54,000 copper lines outside of the existing fibre footprint.

As part of the copper network retirement by 2030, Chorus is committed to a clear,
consumer-centric retirement process that supports the transition of customers still on
copper to modern services.


Authorised by:

Mark Aue
Chief Executive Officer

ENDS


For further information:

Megan Heffield
Media and Content Manager
Phone +64 22 058 2619
Email: megan.heffield@chorus.co.nz

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

---

Quarterly Connections Report Q2FY26
Connections
Update
Q2 FY26
1

Quarterly Connections Report Q2FY26
Q2 FY26 overview
2
FIBRE CONNECTIONS: 1,129,000
Increased 7k (Q1 FY26: +7k) to 1,129,000(including non-
address points and LFC areas)
•in Chorus fibre areas, a 7k increase in fibre broadband connections
offset a 6k reduction in copper lines
•100/20Mbps plan connections grew by net 17k connections with 66%
of growth from new and offnet addresses
•residential connections of 1Gbps and above stable while business
connections of 500Mbps and 1Gbps and above were both up 1%
FIXED LINE CONNECTIONS*: 1,192,000
Decline in copper more than offset fibre connections; total down
8k vs Q1 (Q1 vs Q4: -7k) to 1,192,000
•copper broadband connections declined by 9k (Q1: -10k) and copper
voice connections declined 6k (Q1: -4k)
•copper lines in non-fibre areas declined by 7k (Q1: -7k) with 54k
remaining
FIBRE FOOTPRINT: 1,546,000
Now covers 1,546,000 addresses (excluding LFC areas)
•fibre passed another 5k addresses in Q2 (Q1: +9k),
•fibre passed included fibre to 1k addresses in smaller communities
•uptake in UFB2 areas lifted slightly but remained at 63%
•overall fibre uptake grew 0.2% to 72.4% of passed addresses in Q2
(Q1: +0.1%)
AVERAGE MONTHLY DATA USAGE: 699GB
Average fibre usage 699GB in Dec’25 vs 668GB in Sep’25:
•monthly average data usage on fibre up 9% year on year (Dec’24:
644GB)
•highest monthly average data usage of 699GB in Dec’25
•30 Nov’25 record day data usage >31petabytes of data transferred
by Chorus fibre network following Fortnite game update
•the proportion of fibre connections using more than 1 terabyte of
data was ~20% vs ~18% in Sep’25
*includes ~2k broadband connections Chorus is subsidising for lower socio-economic households

Quarterly Connections Report Q2FY26
Fibre connections uplift continues, 63k copper connections remain
3
30 Sep 202431 Dec 202431 Mar 202530 Jun 202530 Sep 202531 Dec 2025
Variance
31 Dec 2025 vs
30 Sep 2025
Baseband copper
(no broadband)
40,00034,00029,00024,000
20,00014,000(6,000)
Copper ADSL (includes
naked)
49,00044,00039,00034,000
29,00024,000(5,000)
VDSL
(includes naked)
49,00044,00039,00034,000
29,00025,000(4,000)
Data services (copper)1,0001,000NMNM
NMNM-
Total copper
139,000123,000107,00092,000
78,00063,000(15,000)
Fibre broadband (GPON)1,083,0001,089,0001,098,0001,106,000
1,113,0001,120,0007,000
Fibre premium (P2P)9,0009,0009,0009,000
9,0009,000-
Total Fibre1,092,0001,098,0001,107,0001,115,000
1,122,0001,129,0007,000
Total connections*1,231,0001,221,0001,214,0001,207,000
1,200,0001,192,000(8,000)
*includes ~2.5k broadband connections Chorus is subsidising for lower socio-economic households

Quarterly Connections Report Q2FY26
Fibre uptake reaches 72.4%
4
* based on independent address data and Chorus network data for addresses passed by fibre; excludes Chorus fibre in Local Fibre Company (LFC) areas
** not active at quarter end
71.2
71.4
71.6
71.8
72
72.2
72.4
72.6
0
250,000
500,000
750,000
1,000,000
1,250,000
1,500,000
31-Dec-2431-Mar-2530-Jun-2530-Sep-2531-Dec-25
Fibre connectionsInactive fibre sockets**
Addresses passedFibre uptake (%)
FIBRE UPTAKE IN CHORUS FIBRE AREA
(% ADDRESSES PASSED)
Addresses
passed
%
uptake
72.4% fibre uptake across 1,546,000 passed
addresses*
•uptake grew +0.2% in Q2
•+7k fibre connections to addresses
•+5k addresses passed in Q2
•uptake in UFB2 areas lifted 0.6% to 63%
•12k installations in Q2 (Q1:12k)
•247k inactive fibre sockets (Q1: 244k)

Quarterly Connections Report Q2FY26
Fibre uptake by city
5
Auckland
-0.2 to
76.1%
Wellington
+1.1 to
72.1%
Dunedin
-1.5 to
74.9%
UPTAKE, BY URBAN AREA, FOR FIBRE PASSED ADDRESSES
Note: uptake is measured across “urban areas” as defined by Statistics NZ, rather than the original UFB rollout areas
•Auckland down slightly from 76.3% in Q1 to 76.1%
in Q2 with address growth outpacing connection
growth
•Wellington uptake grew 1.1% from Q1 to 72.1% in
Q2
•Dunedin connections 1.5% lower than Q1 at 74.9%
in Q2 due to usual seasonal student disconnections
at end of year

Quarterly Connections Report Q2FY26
Continued stable plan activity
6
•100/20Mbps plan grew by17k to 119k in Q2FY26. Majority of growth from new/offnet and ~1/4 from higher speed plans
•demand for 1Gbps+ stable; 25% of residential and 33% of business connections on 1Gbps or faster
0
150,000
300,000
450,000
600,000
750,000
900,000
1,050,000
Dec-24Mar-25Jun-25Sept-25Dec-25
RESIDENTIAL
2Gbps+1Gbps500Mbps300Mbps
200Mbps100Mbps<100MbpsVoice
0
20,000
40,000
60,000
80,000
100,000
120,000
Dec-24Mar-25Jun-25Sep-25Dec-25
BUSINESS
2Gbps+1Gbps500Mbps300Mbps
200Mbps100Mbps<100MbpsVoice
500Mbps
58%
1Gbps+
25%
Note: Residential 50Mbps & 300Mbps plans were boosted to 100Mbps & 500Mbps respectively in
mid-June-25
500Mbps
62%
1Gbps+
33%

Quarterly Connections Report Q2FY26
Connection changes by zone*
7
Other fibre
company
(LFC) zone
Copper lines (no broadband)3,000Copper connections are declining
as Chorus retires its copper
network and customers migrate
to Local Fibre Company and fixed
wireless networks.
Copper broadband lines3,000
Fibre broadband lines (GPON)4,000
TOTAL10,000
Non-fibre
addresses
(i.e.
Chorus
fibre not
available)
Copper lines (no broadband)10,000Ongoing decline in copper
connections as customers migrate
to alternative mobile/fixed
wireless/satellite networks.
Copper broadband lines44,000
TOTAL54,000
Chorus
fibre zone
Copper lines (no broadband)1,000Covers all addresses outside of
LFC UFB rollout zone where
Chorus fibre is available. Fibre
footprint is growing as a result of
network expansion and new
property development. Copper
connections are reducing as
Chorus retires its copper network.
Copper broadband lines2,000
Fibre broadband lines (GPON)1,113,000
TOTAL1,116,000
-4
-2
-2
-4
-3
-1
-1
-2
-1
-2
-1
-1
-1
-1
-2
-2
-4
-5
-4
-6
-6
-5
-4
-4
-1
-2
-1
-1
-2
7
7
8
8
6
0
-10-50510
Q2 FY26
Q1 FY26
Q4 FY25
Q3 FY25
Q2 FY25
Q2 FY26
Q1 FY26
Q4 FY25
Q3 FY25
Q2 FY25
Q2 FY26
Q1 FY26
Q4 FY25
Q3 FY25
Q2 FY25
Copper line onlyCopper broadbandFibre broadband
* Indicative as at 31 Dec, excludes ~12k fibre premium and smart location connections
QUARTERLY CHANGE (‘000s) BY ZONE

Quarterly Connections Report Q2FY26
63k total copper lines remaining; 86% outside fibre footprint
8
Chorus’ fibre zone:
•3k copper lines in service, with full withdrawal expected by
mid-2026
Non-fibre zones:
•54k copper lines remaining (vs 61k in Q1 FY26)
0
10
20
30
40
50
60
70
80
Copper voiceCopper broadband
Chorus fibre
zone
LFC fibre zoneNon fibre zone
Copper connections able to be withdrawn with
6 months’ notice where fibre is available
Connections
(‘000)

Quarterly Connections Report Q2FY26
Monthly data usage on fibre up 9% year on year
9
339
699
0
100
200
300
400
500
600
700
Dec-20Dec-21Dec-22Dec-23Dec-24Dec-25
CopperFibre
MONTHLY AVERAGE DATA USAGE PER CONNECTION
(GIGABYTES)
•monthly average data usage on fibre 699 gigabytes (GB) in Dec’25
vs 668GB in Sep’25; up 9% year on year (Dec’24: 644GB)
•highest monthly average data usage of 699GB in Dec’25
•30 Nov’25 record day data usage >31petabytes of data transferred
by Chorus fibre network following Fortnite game update
•the proportion of fibre connections using more than 1 terabyte of
data was ~20% vs ~18% in Sep’25
•copper usage was 339GB (Sep’25: 312GB); up 12% year on year
AVERAGE THROUGHPUT IN DECEMBER (2020-2025) BY TIME
OF DAY
2025
2024
2023
2022
2021
2020