Q1 FY2023 DIVIDEND AND MARKET UPDATE

MKTUPDTE

Thu, Dec 08 2022 11:03 am

8 December 2022

NZX Announcement

For immediate release

NZ WINDFARMS LIMITED: Q1 FY2023 DIVIDEND AND MARKET UPDATE

Q1 FY2023 Dividend

NZ Windfarms Ltd (NZX code: NWF) is pleased to announce an unimputed FY2023 Q1 dividend of $0.0005 per share. The Board has taken the prudent approach to maintain higher cash levels to cover expected costs from repower consenting and feasibility workstreams. The Company’s dividend policy provides for quarterly dividends of 70% to 100% of free cash flow. For more details please refer to the accompanying NZX distribution notice also released today.

Market Update

Guidance issued on 29 August 2022 estimated EBITDAF to be in the range of $5.0m - $6.5m. This guidance range is reaffirmed today with the next scheduled market update to occur in February 2023 with the release of the Company’s interim results or if a material event occurs.

Following on from NZ Windfarms NZX announcement “Application Submitted for Fast-Track Consent - TRH Repower” on 17 November 2022, the Fast Track Consent Application and related correspondence is now available on the Environmental Protection Authority’s (EPA) website https://www.epa.govt.nz/fast-track-consenting/referred-projects/te-rere-hau-wind-farm-repowering/ A link to this information is also available on NWF’s website www.nzwindfarms.co.nz

On behalf of the Board and management, I would like to wish everybody a Merry Christmas and a prosperous New Year.

For further information, contact Warren Koia, Chief Executive, by phone on 06 280 2773, or by email at [email protected]

Nga mihi | Thank you

Craig Stobo
Chairman