L&Q Notice – WEL Networks Limited Bonds (“WEL010”)

LISTING AND QUOTATION NOTICE: NZX DEBT MARKET WEL NETWORKS LIMITED BONDS ("WEL010") Company: WEL Networks Limited Issuer Code: WEL Security Code: WEL010 ISIN: NZWELD0010L6 Short Name: WEL Networks Registered Office: 114 Maui Street Te Rapa Hamilton, 3200 PO Box 925 Website: www.wel.co.nz Telephone Number: +64 7 850 3100 Financial Year End: 31 March Directors: Rob Campbell (Chairman), Barry Harris, Tony Steele, Carolyn Steele, Geoff Lawrie, Carolyn Luey and Tony Barnes Details of Issue: An offer of up to $125 million, unsecured, subordinated, fixed rate bonds, with the ability to accept oversubscriptions of up to $25 million at WEL's discretion. Opening Date: Tuesday, 10 July 2018 Closing Date: Friday, 27 July 2018 Interest Rate: 4.90% per annum Maturity Date: Wednesday, 2 August 2023 Interest Payment Dates: 2 November, 2 February, 2 May and 2 August each year up to and including the Maturity Date. Date of First Interest Payment: Friday, 2 November 2018 First Interest Paid To: Holder on record date Record Date: 10 calendar days prior to payment date, or, if that day is not a business day, the immediately preceding business day Minimum Application Amount: NZ$5,000 and multiples of $1,000 thereafter Minimum Holding: NZ$5,000 Minimum Amount Transferrable: NZ$1,000 Face Value: NZ$1.00 per Bond Lead Manager/Organising Participant: Forsyth Barr Limited Auditor: PricewaterhouseCoopers Solicitor: Russell McVeagh Trustee: The New Zealand Guardian Trust Company Limited Trust Deed: Trust Deed Dated 28 June 2018. Issue Date: Thursday, 2 August 2018 Registrar: Link Market Services Limited Settlement Status: NZCDC Settlement System Expected Commencement of Trading on the NZX Debt Market: Friday, 3 August 2018 Mark Peterson Chief Executive Officer NZX Limited 9 July 2018 End CA:00321677 For:WEL Type:OFFER Time:2018-08-03 09:54:08