Fast-Track Consent Submitted for the Aokautere Project

20 October 2023 NZX Announcement For immediate release NZ WINDFARMS LIMITED: FAST-TRACK CONSENT APPLICATION SUBMITTED FOR THE AOKAUTERE EXTENSION PROJECT NZ Windfarms Ltd (NZX code: NWF) is pleased to confirm that resource consents have been lodged for the Aokautere Extension Project (the Project) with the Environmental Protection Authority (EPA), under the COVID-19 Recovery (Fast-track Consenting) Act 2020 (FTCA). This follows intentions announced in our FY2023 NZX announcement on 29 August 2023. NWF is seeking resource consents for the Project, which will expand a repowered Te Rere Hau Wind Farm to the north-east onto the Aokautere Forest Block in Palmerston North, which is owned by Ernslaw One Limited (Ernslaw). NWF has signed an option to enter into a wind rights agreement with Ernslaw. The Project will significantly increase the generation capacity of Te Rere Hau wind farm, through the construction of up to nine large 3-bladed turbines (in addition to the 30 which were consented as part of Te Rere Hau Repowering project). The Project will complement the recently consented Te Rere Hau Repowering Project, utilising the existing wind farm's infrastructure (as well as that to be constructed as part of the consented Te Rere Hau Repowering project). The Project is a referred project under the FTCA. As a referred project, it satisfies the purpose of the FTCA through generation of employment, provision of renewable energy infrastructure, contribution to the mitigation of climate change effects and a faster progression than otherwise provided for by the standard resource consenting process under the Resource Management Act 1991 (RMA). The Project seeks to increase renewable electricity generation capacity, adding power to the national grid via an expanded and repowered Te Rere Hau wind farm. The Project (9 x turbines) will increase the capacity of Te Rere Hau, generating an additional 170 GWh per year, which equates to: - 0.4% of New Zealand's overall electricity generation; - 0.5% of New Zealand's renewable generation; and - 6.0% of New Zealand's wind generation. The increased generation capacity from the Aokautere Extension Project equates to the charging of 73,000 electric vehicles per year or the powering of 22,300 households per year. Following the completion of the Project, alongside Te Rere Hau Repowering project, Te Rere Hau wind farm will generate up to 740 GWh per annum (170 GWh + 570 GWh) and contribute up to 20% of the total wind generation in New Zealand. The Project will provide a significant contribution to New Zealand's immediate future needs in terms of the required generation capacity needed to match growth. NZ Windfarms has built on its consultation efforts from the first fast-track consent and has again engaged with iwi/hapu, Councils, landowners, neighbours, business and government organisations. Chairman Mr Craig Stobo says "By continuing to create opportunities that complement our already consented TRH repowering project, it positions the Company on a pathway that can deliver meaningful future strategic growth opportunities". There are legislative timeframes embodied in the FTCA, including provisions for the expert consenting panel to seek time extensions and we therefore anticipate a consenting decision in the March 2024 quarter. The consenting application will be available on the Company's website www.nzwindfarms.co.nz once it is live on the EPA's website, www.epa.govt.nz. This could take a period of weeks to enact based on other applications. For further information, contact Warren Koia, Chief Executive, by phone on 06 280 2773, or by email at info@nzwindfarms.co.nz. Thank you Craig Stobo Chairman End CA:00420291 For:NWF Type:MKTUPDTE Time:2023-10-20 09:36:34