Contact Energy : $325 million placement fully subscribed

Contact Energy Limited (NZX/ASX:CEN) ('Contact') is pleased to announce that it has successfully completed the bookbuild for the NZ$325 million institutional Placement component of the NZ$400 million equity raising announced on 15 February 2021. The Placement was strongly supported by existing institutional shareholders and also attracted significant bids from other institutional investors.

The Placement was fully subscribed at the fixed price of NZ$7.00 per share. This price represents a discount of 2.8% to the last close price of NZ$7.20 per share on 12 February 2021 and a discount of 7.8% to the 5-day VWAP of NZ$7.60 (up to and including 12 February 2021).

Contact undertook the Placement with the key objectives of treating all shareholders fairly and prioritising existing shareholders. All existing eligible institutional shareholders who bid for their pro-rata allocation of the Placement were allocated at least that amount of new shares.

Settlement of the Placement is expected to occur on 18 February 2021 for ASX and on 19 February 2021 for NZX, with the allotment of all shares and the commencement of trading on the NZX and ASX expected to occur on 19 February 2021. The new shares to be issued under the Placement will rank equally in all respects with Contact's existing ordinary shares.

As announced on 15 February 2021, Contact is also undertaking a non-underwritten NZ$75 million Retail Offer (with the ability to accept oversubscriptions at Contact's discretion). A Retail Offer document, together with an application form, will be sent to eligible New Zealand and Australian resident shareholders on 18 February 2021 and will also be available at www.contactshareoffer.co.nz from that date. All eligible shareholders are encouraged to visit that website and apply online.

Key dates for the Retail Offer are set out in the Appendix to this announcement.

Investor enquiries
Matthew Forbes
Ph [phone]

Media enquiries
Paul Ford
[email protected]
Ph [phone]

Appendix

Key Dates for Retail Offer[1]	Date
Record Date	7:00pm NZDT (5:00pm AEDT) Friday, 12 February 2021
Expected dispatch of Offer Document and application form	Thursday, 18 February 2021
Retail Offer opens	Thursday, 18 February 2021
Retail Offer closes	5:00pm NZDT (3:00pm AEDT) Friday, 5 March 2021
Announcement of results of Retail Offer	Thursday, 11 March 2021
NZX and ASX settlement	Friday, 12 March 2021
Retail Offer shares allotted and commence trading on NZX	Friday, 12 March 2021
Retail Offer shares commence trading on ASX	Monday, 15 March 2021

_{[1] The timetable presented is indicative only and subject to change without notice (subject to applicable laws and the NZX Listing Rules and ASX Listing Rules). All dates and times are New Zealand times (unless stated otherwise).}