Amendments to Master Trust Deed

Z Energy (NZX:ZEL ASX:ZEL) (Z) has amended its Master Trust Deed dated 11 August 2010 (as amended and/or restated from time to time including as amended and restated by deed dated 17 March 2021) (Master Trust Deed) under which Z issues debt securities from time to time. Z currently has two series of fixed rate bonds issued under the Master Trust Deed (and supplemental trust deeds) quoted on the NZX Debt Market, with NZX ticker codes ZEL050 and ZEL060. Ends Matt Hardwick Corporate Affairs Manager Z Energy Limited 027 787 4688 matt.hardwick@z.co.nz End CA:00391574 For:ZEL Type:GENERAL Time:2022-05-05 13:48:49