February 2023 Operating Report

Monthly Operating Report
February 2023

Contact Energy / Monthly Operating Report
2
»The Customer business recorded:
•Mass market electricity and gas sales of 251GWh
(February 2022: 262GWh)
•Mass market netback of $119.90/MWh (February 2022:
$109.14/MWh)
»The Wholesale business recorded:
•Contracted Wholesale electricity sales, including that
sold to the Customer business, totalled 509GWh
(February 2022: 557GWh)
•Electricity and steam net revenueof $99.80/MWh
(February 2022: $93.65MWh)
•Electricity generated (or acquired) of 542GWh
(February 2022: 597GWh)
•The unit generation cost, which includes acquired
generation was $37.30/MWh (February 2022:
$36.80/MWh)
•Own generation cost in the month of
$37.30/MWh (February 2022: $32.10/MWh)
»Tauhara project progress vs. target for
February 2023 was 87% vs. 89%
2
»Otahuhu futures settlement wholesale price
for the 2
nd
quarter of 2023 (ASX):
•As at 10 March 2023: $195/MWh
•As at 28 February 2023: $202/MWh
•As at 31 January 2023: $215/MWh
»As at 12
th
March 2023, South Island controlled
storage was 95% of mean and North Island
controlled storage was 193% of mean
•As at 12
th
March 2023, total Clutha
scheme storage was 75% of mean
•Inflows into Contact’s Clutha catchment
for February 2023 were 19% of mean.
(January 2023: 50%, December 2022: 76%,
November 2022: 117%)
»Contact’s contracted gas volume (including
contracted swaps) for the next 12 months is
14.6PJ
3
For the month of February 2023
3
Forecast gas volumes as notified by suppliers, actual gas received is dependent
on field delivery. This excludes gas available at AGS.
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.
1
All amounts in this operating report are shown excluding a $120 million onerous contract provision ($86 million
after tax) for AGS recognized in December 2022.
2
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
30/06/202231/01/202328/02/2023
0
100
200
300
CY23CY24CY25CY26
$/MWh
30/06/202231/01/202328/02/2023
New Zealand controlled hydro storage against mean
ASX futures settlement
Contact Energy / Monthly Operating Report
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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
Feb-23Feb-22Jan-23
Wholesale electricity pricing
Otahuhu
Contact Energy / Monthly Operating Report
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Benmore
Distribution of wholesale market price by trading periods

-
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
JulAugSepOctNovDecJanFebMarAprMayJun
GWh
NZASSouth Island (exc. NZAS)North Island
Contact Energy / Monthly Operating Report
5
Total national demand
Regional demand change (%) on February 2022
»New Zealand electricity demand was down 0.1% on February 2022
(down 2.4% on February 2022)
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
February 2023 were
18.5ºC, 0.7ºC warmer
than February 2022:
17.8ºC

-
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
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Retail
Generation mix, gross sales position and unit generation cost (FY22 and 23
respectively)
Retail sales volumes and netback (FY22 and 23 respectively)

Contact Energy / Monthly Operating Report
7
Measure
The month ended The month ended The month ended Eight months endingEight months ending
February 23February 22January 23February 23February 22
RetailMass market electricity salesGWh
216 226 232 2,314 2,260
Retail gas salesGWh
35 36 35 491 523
Mass market electricity and gas salesGWh
251 262 268 2,805 2,782
Average electricity sales price$/MWh
284.83 263.85 290.23 264.30 251.79
Electricity direct pass thru costs$/MWh
(131.44)(123.60)(135.10)(120.16)(117.35)
Cost to serve$/MWh
(21.97)(22.80)(20.69)(16.34)(16.12)
Customer netback$/MWh
119.90 109.14 124.05 114.07 104.49
Energy cost$/MWh
(117.88)(101.72)(110.31)(112.33)(96.70)
Actual electricity line losses%
7%9%6%6%7%
Retail gas salesPJ
0.1 0.1 0.1 1.8 1.9
Electricity ICPs#
425,500 426,500 424,500 428,000 418,000
Gas ICPs#
69,500 69,500 69,500 70,500 67,500
Broadband connections#
82,000 66,000 79,000 76,500 59,500
WholesaleElectricity sales to Customer businessGWh
233 249 248 2,470 2,426
Electricity sales to Commercial and IndustrialGWh
123 112 135 1,084 946
Electricity CFD salesGWh
152 196 187 1,397 2,049
Contracted electricity salesGWh
509 557 570 4,951 5,421
Steam salesGWh
53 50 41 430 456
Total electricity and steam net revenue$/MWh
99.80 93.65 97.18 99.91 98.21
C&I netback (at the ICP)$/MWh
110.58 97.01 107.20 115.11 86.59
C&I line losses%
4%12%4%4%5%
Thermal generationGWh
35 37 61 341 446
Geothermal generationGWh
235 235 268 2,109 2,164
Hydro generationGWh
264 294 239 2,556 2,973
Spot electricity salesGWh
534 566 568 5,007 5,583
Electricity sales – DirectGWh
8 7 9 62 63
Acquired generationGWh
023-131 219
Electricity generated (or acquired)GWh
542 597 577 5,200 5,865
Unit generation cost (including acquired generation)
1
$/MWh
(37.26)(36.78)(38.30)(34.65)(33.24)
Spot electricity purchasesGWh
(349)(354)(374)(3,493)(3,310)
CFD sale settlementsGWh
(152)(196)(187)(1,397)(2,049)
Spot exposed purchases / CFD settlementGWh
(501)(550)(562)(4,890)(5,358)
Spot revenue and settlement on acquired generation (GWAP)$/MWh
151.84 138.59 114.66 73.87 112.56
Spot purchases and settlement on CFDs sold (LWAP)$/MWh
(158.50)(146.98)(128.89)(82.19)(121.49)
LWAP/GWAP%
104%106%112%111%108%
Gas used in internal generationPJ
0.5 0.5 0.8 4.8 5.6
Gas storage net movement (extraction) / injectionPJ
0.1 0.1 0.0 2.2 2.0
Tauhara progress tracking actual (target)
87% (89%)N/A84% (85%)N/AN/A
ContactTotal customer connections#
583,000 568,000 579,000 580,000 552,500
1
Unit generation costs is calculated excluding a $120 million onerous contract provision ($86 million after tax) for AGS.
7

Contact Energy / Monthly Operating Report
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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
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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