Z Energy Scheme of Arrangement completes

Z Energy Limited (NZX/ASX: ZEL) ("Z") advises that the Scheme of Arrangement ("Scheme") with Ampol Limited ("Ampol") has become unconditional, all shares in Z have been transferred to Ampol Holdings NZ Limited and direct credit payments to holders of Z shares as at 7:00pm (New Zealand time) on the Record Date of 3 May 2022 have commenced. Abby Foote, outgoing Chair of Z said, "On behalf of Z Energy I would like to thank everyone that has worked so diligently and tirelessly on the Scheme implementation. Thank you to our advisors Chapman Tripp and Goldman Sachs, the Z executive team led by Mike and Lindis and all the Z employees. Finally, thank you to my fellow Board members who have remained engaged and focussed on obtaining the best outcome for our shareholders throughout this process. I would like to extend a welcome to the incoming Board of Z and look forward to seeing the progression of Z under Ampol ownership and further momentum towards Z's purpose of solving what matters for a moving world," added Abby. Z shares will be de-listed from the NZX Main Board and ASX at the end of day today. Z bonds (ZEL050 and ZEL060) will remain quoted on the NZX Debt Market. Matt Hardwick Corporate Affairs Manager matt.hardwick@z.co.nz Ph +64 (0)27 787 4688 End CA:00391798 For:ZEL Type:TRANSACT Time:2022-05-10 11:55:48