March 2023 Operating Report

Monthly Operating Report
March 2023

Contact Energy / Monthly Operating Report
2
»The Customer business recorded:
•Mass market electricity and gas sales of 296GWh
(March 2022: 298GWh)
•Mass market netback of $128.76/MWh (March 2022:
$107.97/MWh)
»The Wholesale business recorded:
•Contracted Wholesale electricity sales, including that
sold to the Customer business, totalled 629GWh (March
2022: 627GWh)
•Electricity and steam net revenueof $114.60/MWh
(March 2022: $95.52MWh)
•Electricity generated (or acquired) of 638GWh (March
2022: 691GWh)
•The unit generation cost, which includes acquired
generation was $35.18/MWh (March 2022: $53.93/MWh)
•Own generation cost in the month of
$35.20/MWh (March 2022: $48.40/MWh)
»Tauhara project progress vs. target for March
2023 was 90% vs. 92%
2
»Otahuhu futures settlement wholesale price
for the 3
rd
quarter of 2023 (ASX):
•As at3 April 2023: $193/MWh
•As at31 March 2023: $191/MWh
•As at28 February 2023: $209/MWh
»As at10
th
April 2023, South Island controlled
storage was 110% of mean and North Island
controlled storage was 193% of mean
•As at10
th
April 2023, total Clutha scheme
storage was 89% of mean
•Inflows into Contact’s Clutha catchment
for March 2023 were 134% of mean.
(February 2023: 119
3,
January 2023: 50%,
December 2022: 78%)
»Contact’s contracted gas volume (including
contracted swaps) for the next 12 months is
14.5PJ
4
For the month of March 2023
3
Correction of data –was listed incorrectly in the February Operating Report
4
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
500
1000
1500
2000
2500
3000
3500
4000
4500
AprMayJunJulAugSepOctNovDecJanFebMar
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
100
200
300
CY23CY24CY25CY26
$/MWh
30/06/202228/02/202331/03/2023
0
50
100
150
200
CY23CY24CY25CY26
$/MWh
30/06/202228/02/202331/03/2023

Wholesale electricity pricing
Otahuhu
Contact Energy / Monthly Operating Report
4
Benmore
Distribution of wholesale market price by trading periods
0
50
100
150
200
250
JulAugSeptOctNovDecJanFebMarAprMayJun
$/MWh
FY22 BENFY23 BENFY22 OTAFY23 OTA
0%
20%
40%
60%
80%
100%
<$35$36-$60$61-$85$86-$110$111-$135$136-$160>$160
% of trading
periods
Mar-23Mar-22Feb-23
0%
20%
40%
60%
80%
100%
<$35$36-$60$61-$85$86-$110$111-$135$136-$160>$160
% of trading
periods
Mar-23Mar-22Feb-23

Contact Energy / Monthly Operating Report
5
Information for March 2023 was not available at
the time of preparing this operating report.

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)
-
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)
-
20
40
60
80
100
120
140
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

Contact Energy / Monthly Operating Report
7
Measure
The month ended The month ended The month ended Nine months endingNine months ending
March 23March 22February 23March 23March 22
RetailMass market electricity salesGWh
253 251 216 2,567 2,511
Retail gas salesGWh
43 47 35 534 569
Mass market electricity and gas salesGWh
296 298 251 3,101 3,080
Average electricity sales price$/MWh
286.95 259.01 284.83 266.53 252.52
Electricity direct pass thru costs$/MWh
(126.87)(126.01)(131.44)(120.82)(118.22)
Cost to serve$/MWh
(20.33)(19.00)(21.97)(16.72)(16.40)
Customer netback$/MWh
128.76 107.97 119.90 115.48 104.82
Energy cost$/MWh
(129.90)(106.73)(117.88)(114.01)(97.67)
Actual electricity line losses%
8%5%7%6%7%
Retail gas salesPJ
0.2 0.2 0.1 1.9 2.0
Electricity ICPs#
426,000 428,000 425,500 427,500 419,000
Gas ICPs#
69,500 70,000 69,500 70,000 68,000
Broadband connections#
83,000 67,000 82,000 77,000 60,000
WholesaleElectricity sales to Customer businessGWh
274 265 233 2,744 2,691
Electricity sales to Commercial and IndustrialGWh
140 121 123 1,224 1,067
Electricity CFD salesGWh
216 241 152 1,612 2,289
Contracted electricity salesGWh
629 627 509 5,581 6,048
Steam salesGWh
59 61 53 489 517
Total electricity and steam net revenue$/MWh
114.60 95.52 99.80 101.58 97.93
C&I netback (at the ICP)$/MWh
122.27 110.13 110.58 115.94 89.22
C&I line losses%
4%7%4%4%5%
Thermal generationGWh
50 156 35 391 602
Geothermal generationGWh
269 272 235 2,379 2,437
Hydro generationGWh
311 209 264 2,867 3,182
Spot electricity salesGWh
630 638 534 5,637 6,221
Electricity sales –DirectGWh
7 8 8 69 71
Acquired generationGWh
045-131 265
Electricity generated (or acquired)GWh
638 691 542 5,837 6,557
Unit generation cost (including acquired generation)
1
$/MWh
(35.18)(53.93)(37.26)(34.70)(35.42)
Spot electricity purchasesGWh
(406)(378)(349)(3,899)(3,688)
CFD sale settlementsGWh
(216)(241)(152)(1,612)(2,289)
Spot exposed purchases / CFD settlementGWh
(622)(618)(501)(5,512)(5,977)
Spot revenue and settlement on acquired generation (GWAP)$/MWh
144.77 196.24 151.84 81.61 121.38
Spot purchases and settlement on CFDs sold (LWAP)$/MWh
(155.59)(210.14)(158.50)(90.47)(130.67)
LWAP/GWAP%
107%107%104%111%108%
Gas used in internal generationPJ
0.7 1.4 0.5 5.5 7.0
Gas storage net movement (extraction) / injectionPJ
(0.1)(0.7)0.1 2.1 1.4
Tauhara progress tracking actual (target)
90% (92%)N/A87% (89%)N/AN/A
ContactTotal customer connections#
584,000 571,000 583,000 580,500 554,500
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
8
Material themeMeasureUnit
Q3 FY23Q3 FY22
Climate Change
Greenhouse Gas (GHG)Emissions from generation assets
1
kt CO
2
-e
157236
GHG intensity of generation
2
kt CO
2
-e /
GWh
0.0910.131
Water
Water Freshwater take
3
Million cubic
metres
0.520.58
Non-consumptive water usage
4
Million cubic
metres
3,2563,138
Geothermal fluid discharge to awa (rivers)
Million cubic
metres
3.703.06
Biodiversity
Native rakau(trees) planted by Contact
5
#
1,000-
Pests caught
6
#
810989
Community
Community initiatives and organisations supported#
1015
Inclusion and
Diversity
Board
% Women/ %
Men
57% / 43%57% / 43%
Inclusion and
Diversity
Key Management Personnel
% Women/ %
Men
20% / 80% 20% / 80%
Inclusion and
Diversity
Employee Gender balance
7
% Women/ %
Men
46% / 53%46% / 53%
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.1.3% and 1%unspecified in Q3FY23 and Q3FY22 respectively.
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