Spark New Zealand issues options under incentive scheme

Spark New Zealand Limited has issued 623,425 options convertible into ordinary shares on a 1:1 ratio, under its Transformation Delivery Incentive (TDI) Scheme. These options, if fully exercised upon vesting, represent approximately 0.03% of Spark NZ's ordinary shares currently on issue. The issuance is authorized by a board resolution dated September 9, 2025, and complies with NZX Listing Rule 4.6.1.

The options will vest upon the achievement of specific performance conditions determined by the board, allowing holders to subscribe for one ordinary share in Spark NZ at nil cash consideration. The terms of the options prevent transfer, assignment, or disposal for a two-year period, and upon exercise, the ordinary shares will rank pari passu with existing shares.

Following this issuance, the total number of options outstanding in the class is 5,734,089. The company's total ordinary shares after this action stand at 1,889,322,507. This capital change, effective September 22, 2025, reflects the company's approach to performance-linked remuneration.