Manawa Energy (MNW) Scheme Meeting 2025 summary

Opening remarks and agenda

• Chair opened the scheme meeting to consider a proposed scheme of arrangement for shareholders, with directors, CEO, CFO, auditor, and registrar present both in person and online.

• Quorum confirmed, meeting officially opened, and procedures for Q&A and voting explained.

Board and executive committee updates

• Board determined the scheme was in shareholders' best interests after extensive review and external advice.

• Directors who hold shares intend to vote in favor of the scheme.

• Board and management acknowledged for their work during a challenging year and transition.

Shareholder proposals

• Contact Energy proposed to acquire all shares via a scheme of arrangement, offering NZD 1.12 cash and 0.5830 Contact shares per Manawa share.

• Scrip consideration for ineligible overseas shareholders will be sold and proceeds paid out.

• Implied consideration is $6.37 per share as of April 30, 2025, subject to market fluctuations.