Pursuant to section 160(3) of the Crown Entities Act 2004 (“Act”), I, Bernice Smith, Senior Solicitor, The Treasury, give notice that, with effect from 1 September 2025 the Rt Honourable Winston Peters, Minister for Rail, the Honourable Christopher Bishop, Minister of Transport, and the Honourable Nicola Willis, Minister of Finance gave approval under section 160(1)(b) of the Act, for Ferry Holdings Limited to enter into derivatives with New Zealand Debt Management to manage its foreign exchange risk in procuring two 200 metre rail enabled ferries.

For the purposes of section 158(6) of the Act, I, Bernice Smith, Senior Solicitor, The Treasury, give notice that the Minister of Finance has approved Ferry Holdings Limited holding money denominated in Euros, Great British pounds and United States dollars with its domestic banks to undertake transactions with overseas parties as required.

Dated at Wellington this 11th day of September 2025.

BERNICE SMITH, Senior Solicitor, The Treasury.