Manawa Energy (MNW) Scheme Meeting 2025 summary

Opening remarks and agenda

• Chair welcomed shareholders and introduced board members, senior management, auditors, and registrar; meeting held both in-person and online.

• Quorum confirmed and meeting officially opened; procedures for Q&A and voting explained.

Shareholder proposals

• Contact Energy proposed to acquire all shares via a scheme of arrangement, offering NZD 1.12 cash and 0.5830 Contact shares per Manawa share.

• Ineligible overseas shareholders will receive net proceeds from sold scrip consideration.

• Implied consideration set at $6.37 per share as of 30 April 2025, subject to market fluctuations.

Board and executive committee updates

• Board unanimously recommended shareholders vote in favor of the scheme, citing value and strategic benefits.

• Two largest shareholders, holding 77.9% of shares, agreed to support the scheme.

• Directors who hold shares intend to vote in favor of the scheme.