New Zealand Professional Investment Services Firm

Forsyth Barr

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

New Zealand Professional Investment Services Firm, Forsyth Barr

Equity Bottom-Up

<ul><li>Mercury’s (MCY) geothermal investor day fleshed out its near-term geothermal development opportunities, highlighting two projects at Ngā Tamariki and Rotokawa respectively.</li><li>The two targeted developments add up to 125MW and ~+1TWh of generation to MCY’s portfolio.</li><li>Geothermal is our preferred renewable generation development technology as it does not face the same intermittency challenges as wind and solar, making it lower risk.</li></ul>

Mercury’s (MCY) geothermal investor day fleshed out its near-term geothermal development opportunities, highlighting two projects at Ngā Tamariki and Rotokawa respectively.The two targeted developments add up to 125MW and ~+1TWh of generation to MCY’s portfolio.Geothermal is our preferred renewable generation development technology as it does not face the same intermittency challenges as wind and solar, making it lower risk.

Mercury Full Steam Ahead—Geothermal Investor Day

Mercury NZ Ltd

Mercury Full Steam Ahead—Geothermal Investor Day