Dividend information

Air New Zealand's dividend policy is to pay an ordinary dividend equal to 40% to 70% of underlying net profit after tax, subject to the Board's consideration of a range of business and financial factors.

These factors may include:

• current and forecast credit metrics
• earnings
• operating cash flows
• debt repayment requirements
• capital investment requirements, including fleet investments

The 40%–70% payout range provides flexibility to maintain dividends through changing economic conditions while supporting Air New Zealand's long-term investment profile.

Dividends are generally expected to be paid as:

• Interim dividend – March
• Final dividend – September

Dividends are paid in both New Zealand dollars (NZD) and Australian dollars (AUD).

Where available, the Board intends to attach imputation credits to dividends.

If excess capital becomes available, the Board may choose to return additional value to shareholders through:

• special dividends
• share buybacks

These decisions are made at the Board's discretion and are separate from the ordinary dividend policy.

The Board retains absolute discretion to:

• increase or reduce dividends
• change the dividend policy
• decide not to declare a dividend

Future dividends are not guaranteed.

If you require a historical dividend statement, please contact MUFG Pension & Market Services (NZ) Limited, Air New Zealand's share registrar.