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    MCY   NZMRPE0001S2

MERCURY NZ LIMITED

(MCY)
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Mercury NZ : Dennis Barnes to join Mercury Board

07/19/2021 | 06:52pm EDT

STOCK EXCHANGE LISTINGS: NZX (MCY) / ASX (MCY)

NEWS RELEASE

Dennis Barnes to join Mercury Board

20 July 2021 - Senior Australasian energy sector leader, Dennis Barnes, has been appointed to the Mercury Board effective 1 September 2021.

Mr Barnes joins the Board as a replacement for Keith Smith, who retires at the 2021 Annual Shareholders' Meeting in September after more than 12 years' service.

Mr Barnes was most recently Chief Executive of Contact Energy, a nine year role during which he led that company's investment in renewable energy and flexible generation (including construction of the Te Mihi geothermal power station, the development of the Tauhara field and the introduction in 2011 of the Ahuroa gas storage facility and Stratford peaking plant). Before this role, Mr Barnes managed Origin Energy's significant portfolio of wholesale markets activities. Mr Barnes holds an MBA from Sheffield University Management School and a BSc (Hons) in Metallurgy and Microstructural Engineering from Sheffield Hallam University.

Mercury Chair, Prue Flacks, said she was delighted to be welcoming Mr Barnes to the Mercury Board.

"We have been working carefully towards an appointment that would ensure the Board added operational experience at the highest level in the New Zealand energy industry" Ms Flacks said.

"Mercury is entering a development phase, with the construction of our first wind farm and the potential for further development of assets currently held by Mercury and assets to be acquired from Tilt Renewables. Mercury is well placed to make a significant contribution to the decarbonisation of New Zealand, but it is critical that we have a Board with the necessary skills, knowledge and expertise to ensure we deliver this strategic objective for the benefit of New Zealand and all our stakeholders," said Ms Flacks.

Mercury's Chief Executive, Vince Hawksworth, welcomed the appointment.

"Dennis has a deep understanding of New Zealand's energy markets, large scale asset investment and delivery experience, as well as much to contribute to Mercury in a broader sense including Health and Safety and people leadership".

`

The Mercury Building, 33 Broadway, Newmarket 1023

PHONE: + 64 9 308 8200

mercury.co.nz

PO Box 90399, Auckland 1142

FAX:

+ 64 9 308 8209

New Zealand

"I know Dennis is looking forward to making an ongoing contribution to the decarbonisation of New Zealand and continuing his personal connection to Aotearoa," Mr Hawksworth said.

Under Mercury's constitution, Mr Barnes is required to retire before the next Annual Shareholders' Meeting in September 2021 and stand for election by shareholders at that meeting.

The Board has determined that Mr Barnes is an independent director for the purposes of the NZX Listing Rules.

ENDS

Howard Thomas

General Counsel and Company Secretary

Mercury NZ Limited

For investor relations queries, please contact:

For media queries, please contact:

Tim Thompson

Shannon Goldstone

Head of Treasury and Investor Relations

Communication Manager

0275 173 470

Media phone: 027 210 5337

ABOUT MERCURY NZ LIMITED

Mercury's mission is energy freedom. Our purpose is to inspire New Zealanders to enjoy energy in more wonderful ways and our goal is to be New Zealand's leading energy brand. We focus on our customers, our people, our partners and our country; maintain a long-term view of sustainability; and promote wonderful choices. Mercury is energy made wonderful. Visit us at: www.mercury.co.nz

| Page 2 of 2

Disclaimer

Mercury NZ Limited published this content on 19 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 July 2021 22:51:12 UTC.


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Sales 2022 1 990 M 1 397 M 1 397 M
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Managers and Directors
Vincent James Hawksworth Chief Executive Officer
William Thomas Meek Chief Financial Officer
Prudence Mary Flacks Chairman
Patrick Clifford Strange Independent Non-Executive Director
Keith Raymond Smith Independent Non-Executive Director