Capital Change Notice

Capital Change Notice
Section 1: Issuer information
Name of issuer Mercury NZ Limited (Mercury)
NZX ticker code MCY
Class of financial product Unquoted Performance Share Rights
(PSRs), convertible to Mercury NZ Limited
ordinary shares pursuant to Mercury NZ
Limited – Share Rights Plan in connection
with the FY26 Short Term Incentive Plan.
ISIN (If unknown, check on NZX website) N/A
Currency NZD
Section 2: Capital change details
Number issued/acquired/redeemed 91,791
Nominal value (if any) Nil
Issue/acquisition/redemption price per security Nil
Nature of the payment (for example, cash or other
consideration)
No consideration is payable for the PSRs.
The PSRs have a set exercise price of $0.
Amount paid up (if not in full) N/A
Percentage of total class of Financial Products
issued/acquired/redeemed/ (calculated on the
number of Financial Products of the Class,
excluding any Treasury Stock, in existence)
1

The PSRs comprise 100% of the financial
products of that class.
For an issue of Convertible Financial Products or
Options, the principal terms of Conversion (for
example the Conversion price and Conversion date
and the ranking of the Financial Product in relation
to other Classes of Financial Product) or the Option
(for example, the exercise price and exercise date)
Conversion of the PSRs is subject to
completion of a one-year deferral period
and satisfaction of any other applicable
conditions under the plan. On becoming
exercisable, each PSR entitles the holder
to one fully paid ordinary Mercury NZ
Limited share, ranking equally with all
other Mercury NZ Limited ordinary shares.
The PSRs have an exercise price of $0.
Reason for issue/acquisition/redemption and
specific authority for issue/acquisition/redemption/
(the reason for change must be identified here)
Issue of 91,791 PSRs under the Mercury
NZ Limited – Share Rights Plan in respect
of the FY26 Short Term Incentive Plan
share rights component, pursuant to
Directors’ resolutions dated 5 December
2025 and 17 August 2026.
Total number of Financial Products of the Class
after the issue/acquisition/redemption/Conversion
(excluding Treasury Stock) and the total number of
Financial Products of the Class held as Treasury
Stock after the issue/acquisition/redemption.
91,791 PSRs.
No PSRs are held as treasury stock.
In the case of an acquisition of shares, whether
those shares are to be held as treasury stock
N/A

Specific authority for the issue, acquisition, or
redemption, including a reference to the rule
pursuant to which the issue, acquisition, or
redemption is made
Directors’ resolutions dated 5 December
2025
Listing Rule 4.6.1
Terms or details of the issue, acquisition, or
redemption (for example: restrictions, escrow
arrangements)
Conversion of PSRs is subject to
completion of a one-year deferral period
and satisfaction of any other applicable
conditions under the plan.
On becoming exercisable, each PSR
entitles the holder to one fully paid
ordinary share in Mercury NZ Limited,
ranking equally with all other Mercury NZ
Limited ordinary shares. PSRs do not
entitle the holder to receive dividends or
other distributions, or to vote in respect of
Mercury NZ Limited ordinary shares.
Under the terms of the plan, an additional
number of shares will be issued on
conversion of fully vested PSRs to reflect
dividends paid on Mercury NZ Limited
ordinary shares during the deferral period.
Holders of PSRs cannot transfer them or
grant a security interest over them.
Date of issue/acquisition/redemption
2
27 August 2026
Section 4: Authority for this announcement and contact person
Name of person

authorised to make this
announcement
Howard Thomas, General Counsel &
Company Secretary
Contact person for this announcement Howard Thomas
Contact phone number 09 308 8270
Contact email address Howard.Thomas@mercury.co.nz
Date of release through MAP

27 August 2026