NZX : 2023 Annual Meeting Chair & CEO's Address

NZX - Annual Shareholders' Meeting

19 April 2023

[SLIDE: 2023 Annual Shareholders' Meeting]

Sara Wheeler

[SLIDE: Today's Meeting]

[Housekeeping: Health and safety, emergency/evacuation and exits/bathroom directions]

[Agenda for the meeting]

Kia ora, good morning and welcome to NZX's 2023 ASM.

I am Sara Wheeler, the General Counsel & Company Secretary at NZX.

Before we begin, I will quickly go through some housekeeping.

• Toilets are located behind you, on the left when you came in [point out toilets]
• In the event of an emergency, please follow the green signs or follow me or one of our team, who will help direct you outside.

In terms of agenda: first, we will hear from NZX's Chair James Miller who will give a welcome and strategic overview.

Secondly, we move to NZX CEO, Mark Peterson who will provide a report on financial and business performance.

We will then move to the formal part of the meeting.

We have five resolutions today:

• The usual resolution to authorise Directors to set audit fees for 2023
• The election of Rachel Walsh as a Director and similarly for Dame Paula Rebstock

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• The re-election of Frank Aldridge as a Director
• And the proposal for the total annual remuneration payable to all directors to be increased by $42,000 from $522,000 to $564,000 with effect from 1 July 2023.

We will attend to voting and then we will move to any general business.

If you are intending to ask a question, please signal to us and we will bring a microphone to you. We would kindly ask that questions relate to the business and operations of the NZX Group - as we are unable to answer questions relating to other companies listed on the exchange.

Shareholders participating online will also be able to ask questions, and you can submit these at any time using the tab at the bottom of your screen.

I encourage shareholders who have questions relating to the business of the meeting, to send their questions through as soon as possible.

Please note that only shareholders, proxy holders or shareholder company representatives may vote. Shareholders will be able to cast their vote online using the voting tab, where you will need to enter you CSN/Holder number for validation.

Please refer to the virtual meeting online portal guide or contact the team at Link on 0800 200 220 if you require any assistance.

Following the meeting we invite you to stay for refreshments.

I will now hand over to James Miller.

…………………………………………….

James Miller

[SLIDE: Welcome]

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Kia ora, good morning, I am delighted to welcome you all here today to NZX's 2023 Annual Shareholders' Meeting.

Welcome to those attending - either in-person or online.

This meeting is being held as a hybrid ASM.

[SLIDE: Board Introduction]

We are pleased to be holding the meeting today in New Zealand's Capital Markets Centre that was officially opened in November last year.

The new centre celebrates New Zealand's capital markets past, present and future.

Already, the centre has been home to many special occasions such as IPOs, direct listings, debt issues, company anniversaries and new product lines.

We've also had a number of school and university students from New Zealand - and internationally - visit the New Zealand Capital Markets Centre to learn more about our stock exchange and the proud history of New Zealand's public markets.

We look forward to the centre being a focus point for more schools and university students in years to come.

For those of you in the room, our Directors and management team always enjoy these opportunities to chat with you, so please stay on after today's meeting for refreshments.

Now to the introductions.

I am pleased to introduce to you the NZX Board: Rachel Walsh, Dame Paula Rebstock, Frank Aldridge, Elaine Campbell, Peter Jessup, Lindsay Wright , and Sarah Miller, our Future Director.

I will explain our recent Director changes shortly.

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Also sitting with the Board are our CEO Mark Peterson and Company Secretary Sara Wheeler and we have most of the Senior Leadership Team in the audience here at the meeting.

NZX's auditor, KPMG, is represented here today by Brent Manning.

I am pleased to confirm that we have a quorum and therefore declare the 2023 Annual Shareholders' Meeting of NZX Limited open.

[SLIDE: Strategic overview: Growing, Connecting Adding Value]

I am pleased to outline the continuing progress NZX is making in delivering to its strategy.

I am proud of what NZX has achieved to grow the business and implement a strategic plan that is bearing fruit in terms of our global ambitions and value for shareholders.

Through our 2.0 Strategy: Growing, Connecting, Adding Value, we are positioning NZX for the future.

In 2022, right across the NZX Group, we showed our purpose by being committed to connecting people, businesses and capital every day.

Smartshares, Wealth Technologies, the international partnerships with Fonterra and European Energy Exchange (EEX) in Global Dairy Trade, the SGX Group in dairy derivatives, alongside our growing information services business, the Emissions Trading Scheme and carbon auction, are all adding value or considerable bench strength to our core markets business.

I take personal pride in the international partnerships and warm friendships which ensure that NZX is well connected to the world and the exciting opportunities that exist.

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Likewise, I am proud of our achievements in growing the Smartshares business with a diversified client base, smart acquisitions and achieving default status as a KiwiSaver provider.

Funds under Management that were circa $1.7 billion when I became Chair are now $10.3 billion.

In my view, Smartshares will lead the passive market in New Zealand in the years to come.

Given the KiwiSaver market is around $96 billion, and most global markets have approximately 20% allocated to passive, the business has a clear path to grow to $20 billion without factoring in industry growth factors.

This is exciting for NZX and New Zealand's capital markets and gives us greater control of our destiny.

In 2022 the Board reaffirmed the next stage of the strategy.

This included encouraging stronger global connections and opportunities.

It is about bringing more size, scale and efficiencies to our capital market operations, and our funds management (Smartshares) and funds under administration (Wealth Technologies) businesses.

I want to thank my fellow Directors and NZX Chief Executive Mark Peterson and his dedicated team for all their hard work and perseverance this year.

There is of course much more to be done to deliver to our growth aspirations.

NZX's Vision is to be a trusted New Zealand business delivering sustainable wealth, value and opportunities for all.

[SLIDE: Governance and regulation]

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