Corporate Governance - Company Principles & Framework

CORPORATE GOVERNANCE.

At Mercury we have genuine focus on the long term. This drives the way we do business, our investment decisions, services to customers and our partnerships with stakeholders.

OUR CORPORATE GOVERNANCE FRAMEWORK

This sets out how our Board is accountable to shareholders for the Company’s actions and performance – along with the delegation of responsibilities to the Chief Executive and management team. Through this framework we create the objectives and direction for the business, identify and manage our risks and assess and continuously improve our performance.

We focus on building trust and confidence through a clear purpose and responsibilities; effective culture built on integrity, honesty and transparency; a well-balanced and experienced Board; management accountability; and effective management of current and future risks.

Our approach is based on best practice Corporate Governance and supported by a regular review process. For more information take a look at our Corporate Governance Statement and other Corporate Governance Policies below.

CORPORATE GOVERNANCE REVIEW PROCESS

Being listed on the New Zealand stock exchange and the ASX as a foreign exempt listed company, we regularly review our corporate governance policies and practices to ensure compliance with NZX and ASX standards. Our corporate governance practices comply with the ASX Corporate Governance Principles and Recommendations and are in substantial compliance with the NZX Corporate Governance Code.

We also consider our corporate governance practices and procedures to substantially reflect the guidelines set out in the ICGN Global Governance Principles, the BlackRock Corporate Governance Guidelines and Engagement Principles, and the Organisation for Economic Co-operation and Development Principles of Corporate Governance.