LGFA Cleansing Notice Offer of 2030 Sustainable Financing Bond

NZX Announcement

11 April 2023

Notice pursuant to clause 7(1)(a) of the Financial Markets Conduct (New Zealand Local Government Funding Agency Limited Sustainable Financing Bond Offer) Exemption Notice 2023

New Zealand Local Government Funding Agency Limited ("LGFA") gives notice under clause 7(1)(a) of the Financial Markets Conduct (New Zealand Local Government Funding Agency Limited Sustainable Financing Bond Offer) Exemption Notice 2023 ("Exemption Notice") that it proposes to make an offer for the issue of fixed rate sustainable financing bonds due 15 May 2030 ("Sustainable Financing Bonds") in reliance upon the exemptions in clause 5 of the Exemption Notice.

The main terms of the offer and the Sustainable Financing Bonds are set out in the attached Series Notice. The Sustainable Financing Bonds will have identical rights, privileges, limitations and conditions except for the interest rate, the maturity date or both and their "sustainable financing" status, as LGFA's:

1. fixed rate bonds maturing on 15 April 2023, which are quoted on the NZX Debt Market under the ticker code LGF050;
2. fixed rate bonds maturing on 15 April 2027, which are quoted on the NZX Debt Market under the ticker code LGF060;
3. fixed rate bonds maturing on 15 April 2025, which are quoted on the NZX Debt Market under the ticker code LGF070;
4. fixed rate bonds maturing on 14 April 2033, which are quoted on the NZX Debt Market under the ticker code LGF080;
5. fixed rate bonds maturing on 15 April 2024, which are quoted on the NZX Debt Market under the ticker code LGF100;
6. fixed rate bonds maturing on 20 April 2029, which are quoted on the NZX Debt Market under the ticker code LGF110;
7. fixed rate bonds maturing on 15 April 2026, which are quoted on the NZX Debt Market under the ticker code LGF120;
8. fixed rate bonds maturing on 15 April 2037, which are quoted on the NZX Debt Market under the ticker code LGF130;
9. fixed rate bonds maturing on 15 May 2031, which are quoted on the NZX Debt Market under the ticker code LGF140;
10. fixed rate bonds maturing on 15 May 2028, which are quoted on the NZX Debt Market under the ticker code LGF150; and
11. fixed rate bonds maturing on 15 May 2035, which are quoted on the NZX Debt Market under the ticker code LGF160,

(together, the "Quoted Bonds"). The Quoted Bonds are not Sustainable Financing Bonds.  The Quoted Bonds with ticker code LGF050 (referred to in paragraph (i) above) have been suspended from trading since the close of 3 April 2023 and will mature on 15 April 2023.

As at the date of this notice, LGFA is in compliance with:

a) the continuous disclosure obligations that apply to it in relation to the Quoted Bonds; and
b) its financial reporting obligations (as defined in the Exemption Notice).

As at the date of this notice, there is no excluded information required to be disclosed for the purposes of the Exemption Notice.

As at the date of this notice, there is no information that would be required to be disclosed under a continuous disclosure obligation or which would be excluded information required to be disclosed for the purposes of the Exemption Notice if the Quoted Bonds had had the same redemption date, interest rate or "sustainable financing" status as the Sustainable Financing Bonds being offered (as applicable).

NZLGFA Sustainable Financing Bond Series Notice 15 May 2030

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For further information, please contact:

Mark Butcher
Chief Executive

04 974 6530