CEN announces opening of NZ$75 million Retail Offer
19/02/2026 08:30 NZDT, OFFER
NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES
19 February 2026
Contact Energy announces opening of NZ$75 million Retail Offer
Contact Energy Limited (NZX/ASX: CEN) (Contact) is pleased to announce the opening of its non-underwritten Retail Offer (Retail Offer) to raise up to NZ$75 million (with the ability to accept oversubscriptions at Contact’s discretion). The Retail Offer forms part of the equity raise announced on 16 February 2026, which also included a fully underwritten placement of NZ$450 million (Placement).
Contact announced the successful completion of the NZ$450 million Placement on 17 February 2026. The Placement was strongly supported and fully subscribed at a price of NZ$8.75 per share. Settlement of the Placement is expected to occur on 19 February 2026 for the ASX and on 20 February 2026 for the NZX, with the allotment of all shares and the commencement of trading on NZX and ASX expected to occur on 20 February 2026.
The Retail Offer gives all Eligible Shareholders the opportunity to purchase up to NZ$100,000 (in the case of New Zealand Eligible Shareholders) and A$41,000 (in the case of Australian Eligible Shareholders1) of shares in Contact (subject to scaling) without incurring brokerage or other transaction costs, at a price to be determined, as described below and in more detail in the attached Retail Offer Document.
An Eligible Shareholder is (in summary) a person who was recorded in Contact’s share register at 7:00pm NZDT / 5:00pm AEDT on 13 February 2026 (Record Date) as holding Contact shares and having an address in New Zealand or Australia.
Contact may elect to accept oversubscriptions and/or scale back the number of shares to be allotted under this Retail Offer at Contact’s discretion. Any scaling of applications will be carried out according only to the number of fully paid ordinary shares held by Eligible Shareholders accepting the Retail Offer (or, in the case of an application made by a custodian, the relevant beneficial owner(s)) on the Record Date.
The new shares issued under the Retail Offer will rank equally in all respects with Contact’s existing ordinary shares, including those to be issued under the Placement. The new shares issued under Retail Offer (and the Placement) are not entitled to the interim dividend to be paid on 25 March 2026 (with a record date of 19 February 2026).
The Retail Offer issue price will be the lower of:
• The Placement price of NZ$8.75 per share; and
• A 2.5% discount to the volume weighted average market price of Contact shares traded on the NZX Main Board over the five business day period prior to and including the closing date for the Retail Offer, rounded down to the nearest cent
For the avoidance of doubt, persons in the United States are not eligible to participate in the Retail Offer, and persons who hold shares on behalf of persons in the United States are not eligible to participate in the Retail Offer in respect of those persons.
The Retail Offer of up to NZ$75 million (with the ability to accept oversubscriptions at Contact’s discretion) has been sized to reflect the retail shareholder base, with the objective of providing almost all Eligible Shareholders the opportunity to maintain their pro rata shareholding, should they choose to do so.
A letter will be sent to all Eligible Shareholders today via their preferred method of shareholder communications advising them of opening of the Retail Offer and providing further details regarding how to apply. No Retail Offer Document or Application Form will be sent to shareholders.
The Retail Offer Document will be available to Eligible Shareholders today at www.contactshareoffer.co.nz. All Eligible Shareholders are encouraged to visit that website and read all of the materials available or referred to on it (including the offer document, investor presentation and market announcement published by Contact on 16 February 2026) before making a decision whether to apply online. Eligible Shareholders who wish to participate in the Retail Offer should apply online before 5:00pm (NZDT) / 3:00pm (AEDT) on 6 March 2026.
Key dates relating to the Retail Offer are set out in the Appendix to this announcement. A copy of the Retail Offer booklet also accompanies this announcement.
- ends -
1 The lower limit on participation for Australian Eligible Shareholders reflects the legal rules applicable to offers of this nature in Australia.
Investor enquiries
Shelley Hollingsworth
Head of Strategy and Investor Relations
+64 27 227 2429
Investor.centre@contactenergy.co.nz
Media enquiries
Louise Wright
Head of Communications and Reputation
+64 21 840 313
media@contactenergy.co.nz
Appendix
Key dates
[See table in attached release]
The above timetable and all dates are indicative only and subject to change (subject to NZX Listing Rules, ASX Listing Rules and applicable laws).
NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES
This announcement has been prepared for publication in New Zealand and Australia and may not be released or distributed in the United States. This announcement does not constitute an offer, invitation or recommendation to subscribe for or purchase any security or financial product and neither this announcement nor anything attached to this announcement shall form the basis of any contract or commitment. In particular, this announcement does not constitute an offer to sell, or the solicitation of an offer to buy, securities in the United States or any other jurisdiction in which such an offer or solicitation would be illegal. Any securities described in this announcement have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”) or the securities laws of any state or other jurisdiction of the United States and may not be offered or sold, directly or indirectly, in the United States except in transactions exempt from, or not subject to, the registration requirements of the U.S. Securities Act and the securities laws of any state or other jurisdiction of the United States. The shares to be offered and sold in the Retail Offer may only be offered and sold outside the United States in “offshore transactions” (as defined in Rule 902(h) under the U.S. Securities Act) in reliance on Regulation S under the U.S. Securities Act.
You must not send copies of this announcement or any other material relating to the Retail Offer to any person in the United States or elsewhere outside New Zealand and Australia. The release, publication or distribution of this announcement (including an electronic copy) outside New Zealand and Australia may be restricted by law. If you come into possession of this announcement, you should observe such restrictions. Any non-compliance with these restrictions may contravene applicable securities laws.
Important Notice
This announcement does not constitute investment or financial product advice, nor is it a recommendation to acquire securities. It is not intended to be used as the basis for making a financial decision, nor is it intended to constitute legal, tax, accounting or other advice. You should make your own enquiries and investigations regarding any investment, and should seek your own professional advice on the legal, financial, accounting, taxation and other consequences of investing in Contact.
This announcement is not a prospectus, product disclosure statement or any other disclosure or offering document under New Zealand law, Australian law or any other law. This announcement is for information purposes only and is not an invitation or offer of securities for subscription, purchase or sale in any jurisdiction and neither this announcement nor anything in it shall form any part of any contract for the acquisition of securities.