Results of Scheme Meeting

Manawa shareholders vote in favour of Scheme

Manawa Energy Limited (“Manawa”) advises that the proposed scheme of arrangement under which Contact Energy Limited will, subject to the satisfaction of certain conditions, acquire all of the shares in Manawa (the “Scheme”), has been approved by shareholders at the Scheme Meeting today. In total, 99.97% of all votes cast at the Scheme Meeting (excluding abstentions), and 84.83% of the total voting rights in the company, were in favour of the Scheme.

Details of the voting thresholds required to approve the Scheme, and the voting results are set out below. Copies of the Scheme Meeting materials can be viewed on Manawa’s website at https://www.manawaenergy.co.nz/soa-information.

The final steps in the Scheme process will now be undertaken, including applying to the High Court for final orders. If the High Court grants final orders approving the Scheme, and subject to the outstanding conditions being satisfied or waived and the Scheme Implementation Agreement not being terminated, the last day of trading in Manawa shares is expected to be 7 July 2025. The record date for participation in the Scheme is expected to be 5.00pm on 9 July 2025 and implementation of the Scheme is expected to occur on 11 July 2025.

Manawa thanks all shareholders for their interest and engagement in the Scheme process.

Voting Results
To proceed, the Scheme required:
• 75% or more of the votes in each interest class who were entitled to vote and who actually voted to have been voted in favour of the Scheme Resolution; and
• more than 50% of the total number of Manawa shares on issue to have been voted in favour of the Scheme Resolution.
At the Scheme Meeting, all shareholders voted in a single interest class and the voting results were as follows:

Scheme Resolution: “That the Scheme (the terms of which are described in the Scheme Booklet) be and is hereby approved.”

Refer to the table in the NZX announcement document

For:
265,504,715 shares

(99.97% of votes cast on the Scheme Resolution)

(84.83% of total shares in Manawa)

Against:
83,883 shares

(0.03% of votes cast on the Scheme Resolution)

(0.03% of total shares in Manawa)

Abstained:
23,512 shares

NOTE: For and against percentages are calculated excluding abstentions.

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Investor enquiries:
Phil Wiltshire Chief Financial Officer
Ph 027 582 6600
[email protected]

Media enquiries:
Jen Spence Communications
Ph 027 306 2618
[email protected]

About Manawa Energy Limited Manawa Energy is Aotearoa New Zealand’s largest independent electricity generator and renewables developer. We have 26 power schemes throughout New Zealand and a total installed capacity of 512 megawatts, generating an average of 1944 gigawatt hours of electricity per year. We supply around 550 commercial and industrial customers. Manawa (meaning ‘heart’) acknowledges our heritage establishing electricity generation on the Omanawa River in the Kaimai area during the early 1900s. Our name was gifted by Ngāti Hangarau hapū, mana whenua of the area where our Kaimai hydro-electric power scheme is located.

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Announcement PDF