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FY2023 EBITDAF guidance confirmed

26 January 2023 – Mercury announced today that it has confirmed its FY2023 EBITDAF guidance of $620m or normalised

EBITDAF of $795m after adjusting for the non-cash unwind of acquired swaps relating to the Norske Skog, Tilt and Trustpower

transactions.

Very wet conditions across the Waikato catchment have lifted FY2023 hydro production forecasts to 4,700GWh (from

4,500GWh). This additional hydro production has mostly been generated during Q2 when spot electricity prices were low due to

nationally wet conditions and the Lake Taupō level was actively managed within the consented operating limits. The integration

of the Mercury and Trustpower retail businesses is ahead of schedule, but this is pulling forward integration costs from future

years into FY2023.

In December 2022, Mercury acquired the remaining shares of NOW New Zealand Limited. Mercury made an initial investment

for 48% of NOW back in March 2021. NOW provides telecommunications and broadband services to 24,000 residential and

small commercial customers throughout New Zealand.

Guidance may change and remains subject to any material events, significant one-off expenses or other unforeseen

circumstances including changes to hydrological conditions.

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( DYOR )

i hold MCY

hmmm ! diversifying into a telco provider

will have to think on this ( if a reason to add more )