Update on constitutional ownership restrictions

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

Email: company.secretary@chorus.co.nz



STOCK EXCHANGE ANNOUNCEMENT

10 August 2026

Update on constitutional ownership restrictions
As contemplated in the Ministry for Regulation Telecommunications Regulatory Review recommendations
published in March this year Chorus and the Crown have now executed an unconditional variation to Chorus'
Deed of Operational and Governance Undertakings as the next step toward removing the legacy ownership
caps included in Chorus’ constitution.
The current ownership restrictions require Ministerial approval for ownership of more than 10 per cent of
Chorus’ voting shares or over 49.9 per cent if the proposed owner is not a New Zealand national. The executed
variation allows Chorus to propose an amendment to its Constitution to remove the ownership restrictions. It
is intended that shareholders will be asked to vote on a special resolution on this matter at the upcoming
Annual Shareholder Meeting in November 2026
Authorised by:

Kristel McMeekin
General Counsel

ENDS

For further information:

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

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