CEN - Waiver from NZX Listing Rule 3.14.1(c)

NZ RegCo

0


22 October 2026
NZ RegCo Decision
Contact Energy Limited (CEN)
Application for waiver from NZX Listing Rule 3.14.1(c)

NZ RegCo

1


Background
1. The information on which this decision is based is set out in Appendix One to this decision. This
waiver will not apply if that information is not, or ceases to be, full and accurate in all material
respects.
2. The NZX Listing Rule (Rule) to which this decision relates is set out in Appendix Two.
3. Capitalised terms that are not defined in this decision have the meanings given to them in the
Rules.
Waiver from Rule 3.14.1(c)
Decision
4. Subject to the conditions set out in paragraph 5 below, and on the basis that the information
provided by Contact Energy Limited (CEN) is complete and accurate in all material respects, NZ
RegCo grants CEN a waiver from Rule 3.14.1(c) such that CEN shall not be required to release
through MAP a Corporate Action Notice in relation to CEN's potential redemption of its capital
bonds which are quoted on the NZX Debt Market under the ticker CEN060 (CEN060 Bonds) five
business days before the Record Date.
5. The waiver in paragraph 4 above is provided on the conditions that if CEN elects to redeem its
CEN060 Bonds on 19 November 2026 (being the first reset date for the CEN060 Bonds), CEN will
release both the notice of redemption and the Corporation Action Notice to the market through
MAP on the date on which the notice of redemption is issued (being 5 November 2026 if CEN
exercises its option to redeem).
Reasons
6. In coming to the decision to provide the waiver set out in paragraph 4 above, NZ RegCo has
considered that:
a. The policy behind Rule 3.14.1(c) is to ensure investors have sufficient notice regarding an
Issuer's intended call on Quoted Financial Products.
b. On 19 October 2026, CEN made a pre-offer market announcement in relation to its proposed
offer of new capital bonds. In that pre-offer announcement, CEN indicated that, if the offer is
successful, CEN will exercise its option to redeem the CEN060 Bonds on 19 November 2026
(being the first reset date for the CEN060 Bonds). On 19 October 2026 CEN (via the registrar
of the CEN060 Bonds) also sent a separate letter (by email or post) to investors in the
CEN060 Bonds to advise them of the potential redemption of the CEN060 Bonds.
c. On the basis of the above, there will be no material disadvantage to investors in the CEN060
Bonds as a result of granting the waiver, due to the earlier communication of the intention to
redeem the CEN060 Bonds.
d. NZX will suspend the trading of CEN060 Bonds from market close on 5 November 2026
(being the day the offer of new capital bonds closes) to facilitate an orderly redemption and
settlement process for the CEN060 Bonds.
e. Should CEN exercise its option to redeem the CEN060 Bonds, CEN will release a Corporate
Action Notice to the market via MAP by end of day on 5 November 2026. NZX has confirmed
that this will provide sufficient operational notice ahead of the Record Date.
f. There is precedent for this decision.

NZ RegCo

2


Confidentiality
7. CEN has requested that this application and any decision be kept confidential until such time as is
agreed with NZ RegCo.
8. In accordance with Rule 9.7 NZ RegCo grants CEN's request.

NZ RegCo

3


Appendix One
Background
1. Contact Energy Limited (CEN) is a Listed Issuer with securities Quoted on the NZX Debt Market,
including unsecured, subordinated green capital bonds with ticker CEN060 (CEN060 Bonds).
2. CEN lodged a product disclosure statement for a proposed new capital bond offer on 22 October
2026 (Offer), which is intended to refinance the CEN060 Bonds. CEN has the right to redeem
the CEN060 Bonds on the first reset date, being 19 November 2026.
3. The Offer is scheduled to open on 2 November 2026 and close on 5 November 2026. CEN has
advised that, if the Offer is successful, it will issue a Corporate Action Notice in respect of the
redemption of the CEN060 Bonds on the date the Offer closes (5 November 2026).
4. The next Record Date for the CEN060 Bonds is 9 November 2026.
5. On the basis of the above dates, CEN is unable to release details of its call on the CEN060
Bonds in the form of Corporate Action Notice prescribed by NZX and in the timing required by
Rule 3.14.1(c) as this would require the MAP release to be made prior to the notice of redemption
being published by CEN060.

NZ RegCo

4


Appendix Two
Rule 3.14.1(c) Distributions, conversion and calls
Rule 3.14.1 An Issuer must release through MAP, at least 5 Business Days before the
Record Date, the details of a proposal to
(a) pay or distribute a benefit on Quoted Financial Products,
(b) proceed with a Conversion of Quoted Financial Products, or a
Conversion of any Financial Products into Quoted Financial
Products, or
(c) make a call on a Quoted Financial Product,
in the form prescribed by NZX from time to time.