December 2022 Operating Report

Monthly Operating Report
December 2022

Contact Energy / Monthly Operating Report
2
»The Customer business recorded:
•Mass market electricity and gas sales of 283GWh
(December 2021: 288GWh)
•Mass market netback of $122.17/MWh (December 2021:
$106.73/MWh)
»The Wholesale business recorded:
•Contracted Wholesale electricity sales, including that
sold to the Customer business, totalled 568GWh
(December 2021: 644GWh)
•Electricity and steam net revenueof $84.10/MWh
(December 2021: $83.33/MWh)
•Electricity generated (or acquired) of 612GWh
(December 2021: 684GWh)
•The unit generation cost, which includes acquired
generation was $27.01/MWh (December 2021:
$20.03/MWh)
•Own generation cost in the month of
$26.32/MWh (December 2021: $18.30/MWh)
»Tauhara project progress vs. target for December 2022 was
79% vs. 74% *
»Otahuhu futures settlement wholesale price
for the 1st quarter of 2023 (ASX):
•As at18 January 2023: $187/MWh
•As at30 December 2022: $167/MWh
•As at30 November 2022: $138/MWh
»As at18 January 2023, South Island controlled
storage was 107% of mean and North Island
controlled storage was 149% of mean
•As at18 January 2023, total Clutha
scheme storage was 84% of mean
•Inflows into Contact’s Clutha catchment
for December 2022 were 76% of mean.
(November 2022: 117% October 2022: 73%
September 2022: 112%)
»As at1 January 2023, Contact’s contracted gas
volume (including contracted swaps) for the
next 12 months is 13.45PJ**
»In light ofthe reduction in modelled storage
capacity at AGS, announced 21 December
2022, Contact is reviewing the contract with
AGS to determine potential onerous contract
treatment
For the month of December 2022
** Forecast gas volumes as notified by suppliers, actual gas received is dependent
on field delivery
Prior periods restated to account for metering costs, previously included within ‘Cost to serve’, have been
reclassified to ‘Electricity direct pass thru costs’ to better reflect the direct nature of these costs and to improve
comparability with the industry.
*The progress target for Tauhara follows an S-Curve model in line with standard project management practice
(for large scale infrastructure projects). This will result in more gradual increments in the reporting of target and
actual progress as the project nears completion in Q4 of 2023.

0
50
100
150
200
CY23CY24CY25CY26
$/MWh
30/06/202230/11/202230/12/2022
0
100
200
300
CY23CY24CY25CY26
$/MWh
30/06/202230/11/202230/12/2022
0
500
1000
1500
2000
2500
3000
3500
4000
4500
JanFebMarAprMayJunJulAugSepOctNovDec
GWh
South Island ActualNorth Island Actual
South Island post-market meanNational post-market mean
New Zealand controlled hydro storage against mean
ASX futures settlement
Contact Energy / Monthly Operating Report
3
12 MONTHS
Otahuhu
Benmore

0%
20%
40%
60%
80%
100%
<$35$36-$60$61-$85$86-$110$111-$135$136-$160>$160
% of trading
periods
Dec-22Dec-21Nov-22
0%
20%
40%
60%
80%
100%
<$35$36-$60$61-$85$86-$110$111-$135$136-$160>$160
% of trading
periods
Dec-22Dec-21Nov-22
0
50
100
150
200
250
JulAugSeptOctNovDecJanFebMarAprMayJun
$/MWh
FY22 BENFY23 BENFY22 OTAFY23 OTA
Wholesale electricity pricing
Otahuhu
Contact Energy / Monthly Operating Report
4
Benmore
Distribution of wholesale market price by trading periods

(3%)
(2%)
(4%)
(3%)
7%
(1%)
2%
14%
(0%)
(9%)
(16%)
(3%)
(1%)
(1%)
1%
(7%)
3%
11%
-
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
JulAugSepOctNovDecJanFebMarAprMayJun
GWh
North IslandSouth Island (exc. NZAS)NZAS
Contact Energy / Monthly Operating Report
5
Total national demand
Regional demand change (%) on December 2021
»New Zealand electricity demand was down 0.4% on December 2021
(down 2.5% on December 2020)
Source: Contact and Electricity Authority grid demand (reconciled) http://www.emi.ea.govt.nz
FY21, 22 and 23 respectively
Regional demand is excluding NZAS
Nationwide
temperatures for
December 2022 were
17.0ºC, 0.4ºC cooler
than December 2021:
17.4ºC

-
20
40
60
80
100
120
0
100
200
300
400
500
600
Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
$/MWh
GWh
Mass market electricity salesRetail gas salesNetback
-
10
20
30
40
50
60
70
80
90
100
-
100
200
300
400
500
600
700
800
900
1,000
Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
$/MWh
GWh
GeothermalHydroThermal
Acquired generationContracted electricity salesUnit generation cost (RHS)
Wholesale
Contact Energy / Monthly Operating Report
6
Retail
Generation mix, gross sales position and unit generation cost (FY22 and 23
respectively)
Retail sales volumes and netback (FY22 and 23 respectively)
(RHS)

Contact Energy / Monthly Operating Report
7
Measure
The month ended The month ended The month ended Six months endingSix months ending
December 22December 21November 22December 22December 21
RetailMass market electricity salesGWh
240 244 236 1,866 1,800
Retail gas salesGWh
43 44 49 421 444
Mass market electricity and gas salesGWh
283 288 285 2,286 2,244
Average electricity sales price$/MWh
284.66 257.30 280.32 258.69 248.80
Electricity direct pass thru costs$/MWh
(133.09)(125.18)(126.81)(116.99)(115.27)
Cost to serve$/MWh
(20.04)(17.90)(21.28)(15.21)(14.80)
Customer netback$/MWh
122.17 106.73 118.59 112.27 103.76
Energy cost$/MWh
(97.82)(86.34)(99.68)(111.96)(96.61)
Actual electricity line losses%
6%6%6%6%7%
Retail gas salesPJ
0.2 0.2 0.2 1.5 1.6
Electricity ICPs (average)#
424,000 422,000 426,000 429,000 415,500
Gas ICPs (average)#
69,500 68,000 70,000 70,500 67,000
Broadband connections (average)#
78,000 62,000 76,000 75,000 57,500
WholesaleElectricity sales to Customer businessGWh
256 261 252 1,988 1,928
Electricity sales to Commercial and IndustrialGWh
140 126 142 826 718
Electricity CFD salesGWh
172 257 169 1,057 1,654
Contracted electricity salesGWh
568 644 563 3,872 4,300
Steam salesGWh
60 53 53 336 361
Total electricity and steam net revenue$/MWh
84.10 83.33 91.10 100.32 100.68
C&I netback (at the ICP)$/MWh
98.63 68.49 101.45 117.07 85.43
C&I line losses%
4%13%4%4%4%
Thermal generationGWh
14 22 12 246 360
Geothermal generationGWh
242 259 239 1,606 1,659
Hydro generationGWh
347 383 404 2,053 2,391
Spot electricity salesGWh
603 665 656 3,905 4,411
Electricity sales - DirectGWh
9 9 8 45 47
Acquired generationGWh
011-131 162
Electricity generated (or acquired)GWh
612 684 664 4,081 4,620
Unit generation cost (including acquired generation)$/MWh
(27.01)(20.03)(29.83)(33.78)(32.15)
Spot electricity purchasesGWh
(387)(379)(385)(2,770)(2,599)
CFD sale settlementsGWh
(172)(257)(169)(1,057)(1,654)
Spot exposed purchases / CFD settlementGWh
(559)(636)(555)(3,827)(4,253)
Spot revenue and settlement on acquired generation (GWAP)$/MWh
17.51 53.66 39.22 57.81 103.64
Spot purchases and settlement on CFDs sold (LWAP)$/MWh
(21.94)(60.26)(43.87)(65.34)(112.59)
LWAP/GWAP%
125%112%112%113%109%
Gas used in internal generationPJ
0.4 0.4 0.4 3.4 4.3
Gas storage net movement (extraction) / injectionPJ
0.4 0.4 0.3 2.0 2.0
Tauhara progress tracking actual (target)
79% (74%)N/A76% (71%)N/AN/A
ContactTotal customer connections (average)#
577,000 559,000 578,000 580,000 548,000

Contact Energy / Monthly Operating Report
8
Material themeMeasureUnit
Q2 FY23Q2 FY22
Climate Change
Greenhouse Gas (GHG)Emissions from generation assets
1
kt CO
2
-e111118
GHG intensity of generation
2
kt CO
2
-e /
GWh
0.0600.058
Water
Water Freshwater take
3
Million cubic
metres
0.600.76
Non-consumptive water usage
4
Million cubic
metres
4,6304,801
Geothermal fluid discharge to awa (rivers)
Million cubic
metres
2.903.58
Biodiversity
Native rakau(trees) planted by Contact
5
#26,36418,434
Pests caught
6
#6431,893
Community
Community initiatives and organisations supported#2223
Inclusion and
Diversity
Board
% Women/ %
Men
57% / 43%57% / 43%
Inclusion and
Diversity
Key Management Personnel
% Women/ %
Men
20% / 80%27% / 73%
Inclusion and
Diversity
Employee Gender balance
7
% Women/ %
Men
46% / 53%45% / 54%
1 Scope 1 –Stationary combustion. In FY22 stationary combustion was 99.96% of Contact’s total Scope 1 emissions
2 Carbon equivalent from stationary combustion / electricity generated and sold via the spot wholesale market
3 Freshwater taken to support operations at geothermal and thermal
4 Water that flows through our Roxburgh power station and cooling water for our geothermal power stations
5 Does not include DrylandsCarbon/Forest Partners activities
6 Predominantly stoats, rats and possums
7 Includes all permanent, fixed term and casual employees. 1.4% and 0.5% unspecified in Q1 FY23 and Q1 FY22 respectively.
* Data has not historically been collected by quarter
Note: This information is updated quarterly (September, December, March, June)

Contact Energy / Monthly Operating Report
9
investor.centre@contactenergy.co.nz
contact.co.nz/aboutus/investor-centre
Investors
Shelley Hollingsworth – Investor Relations &
Strategy Manager
contact.co.nz
@ContactEnergy
Linkedin.com/company/contact-energy-ltd
Facebook.com/ContactEnergy
Youtube.com/ContactEnergy
To find out more about Contact Energy
+64 27 227 2429