April 2023 Operating Report

Monthly Operating Report
April 2023

Contact Energy / Monthly Operating Report
2
»The Customer business recorded:
•Mass market electricity and gas sales of 300GWh (April
2022: 312GWh)
•Mass market netback of $124.68/MWh (April 2022:
$104.59/MWh)
»The Wholesale business recorded:
•Contracted Wholesale electricity sales, including that
sold to the Customer business, totalled 600GWh (April
2022: 622GWh)
•Electricity and steam net revenueof $112.68/MWh (April
2022: $98.69MWh)
•Electricity generated (or acquired) of 597GWh (April
2022: 684GWh)
•The unit generation cost, which includes acquired
generation was $27.08/MWh (April 2022: $60.25/MWh)
•Own generation cost in the month of
$27.20/MWh (April 2022: $50.10/MWh)
»Please note:
•Contact has decided to not proceed with the C6
overhaul of its TCC plant and will run the plant to the
end of the operating hours or as market needs dictate.
We have adequate gas supply contracted to run TCC
through to the end of winter 2024.
»Tauhara project progress vs. target for April
2023 was 94% vs. 95%
2.
. We have commenced
pre-commissioning activities in preparation
for first steam.
»Otahuhu futures settlement wholesale price
for the 3
rd
quarter of 2023 (ASX):
•As at5 May 2023: $165/MWh
•As at28 April 2023: $177/MWh
•As at31 March 2023: $191/MWh
»As at7
th
May 2023, South Island controlled
storage was 112% of mean and North Island
controlled storage was 195% of mean
•As at7
th
May 2023, total Clutha scheme
storage was 80% of mean
•Inflows into Contact’s Clutha catchment
for April 2023 were 94% of mean. (March
2023: 134%, February 2023: 119%, January
2023: 50%)
»Contact’s contracted gas volume (including
contracted swaps) for the next 12 months is
14.3PJ
3
For the month of April 2023
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.
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.

New Zealand controlled hydro storage against mean
ASX futures settlement
Contact Energy / Monthly Operating Report
3
12 MONTHS
Otahuhu
Benmore
0
500
1000
1500
2000
2500
3000
3500
4000
4500
MayJunJulAugSepOctNovDecJanFebMarApr
GWh
South Island ActualNorth Island Actual
South Island post-market meanNational post-market mean
0
100
200
300
CY23CY24CY25CY26
$/MWh
30/06/202231/03/202328/04/2023
0
100
200
CY23CY24CY25CY26
$/MWh
30/06/202231/03/202328/04/2023

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
Apr-23Apr-22Mar-23
0%
20%
40%
60%
80%
100%
<$35$36-$60$61-$85$86-$110$111-$135$136-$160>$160
% of trading
periods
Apr-23Apr-22Mar-23

Contact Energy / Monthly Operating Report
5
Total national demand
Regional demand change (%) onApril 2022
»New Zealand electricity demand was down 0.3% on April 2022 (down
2.7% on April 2021)
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 April
2023 were 14.4ºC, 0.1ºC
cooler than April 2022:
14.5ºC
-
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
JulAugSepOctNovDecJanFebMarAprMayJun
GWh
NZASSouth Island (exc. NZAS)North Island
2%
7%
0%
3%
5%
(1%)
(9%)
(12%)
3%
(9%)
2%
(1%)
1%
2%
4%
1%
3%
1%

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 Ten months endingTen months ending
April 23April 22March 23April 23April 22
RetailMass market electricity salesGWh
254 256 253 2,821 2,767
Retail gas salesGWh
46 55 43 581 625
Mass market electricity and gas salesGWh
300 312 296 3,402 3,392
Average electricity sales price$/MWh
288.33 258.00 286.95 268.49 253.03
Electricity direct pass thru costs$/MWh
(133.85)(125.37)(126.87)(121.99)(118.88)
Cost to serve$/MWh
(17.70)(18.69)(20.33)(16.81)(16.61)
Customer netback$/MWh
124.68 104.59 128.76 116.29 104.80
Energy cost$/MWh
(121.91)(98.94)(129.90)(114.71)(97.79)
Actual electricity line losses%
5%7%8%6%7%
Retail gas salesPJ
0.2 0.2 0.2 2.1 2.2
Electricity ICPs#
426,000 428,500 426,000 427,500 420,000
Gas ICPs#
70,000 70,500 69,500 70,000 68,000
Broadband connections#
84,000 67,000 83,000 78,000 61,000
WholesaleElectricity sales to Customer businessGWh
268 277 274 3,012 2,969
Electricity sales to Commercial and IndustrialGWh
118 133 140 1,342 1,201
Electricity CFD salesGWh
214 211 216 1,826 2,500
Contracted electricity salesGWh
600 622 629 6,180 6,670
Steam salesGWh
46 35 59 536 552
Total electricity and steam net revenue$/MWh
112.68 98.69 114.60 102.65 98.00
C&I netback (at the ICP)$/MWh
113.49 115.23 122.27 115.72 92.23
C&I linelosses%
4%4%4%4%5%
Thermal generationGWh
12 139 50 403 741
Geothermal generationGWh
263 280 269 2,641 2,716
Hydro generationGWh
318 178 311 3,185 3,360
Spot electricity salesGWh
592 596 630 6,229 6,817
Electricity sales –DirectGWh
5 5 7 74 76
Acquired generationGWh
083-131 348
Electricity generated (or acquired)GWh
597 684 638 6,434 7,240
Unit generation cost (including acquired generation)
1
$/MWh
(27.08)(60.25)(35.18)(34.00)(37.77)
Spot electricity purchasesGWh
(381)(406)(406)(4,281)(4,093)
CFD sale settlementsGWh
(214)(211)(216)(1,826)(2,500)
Spot exposed purchases / CFD settlementGWh
(595)(617)(622)(6,107)(6,594)
Spot revenue and settlement on acquired generation (GWAP)$/MWh
87.89 191.63 144.77 82.20 128.04
Spot purchases and settlement on CFDs sold (LWAP)$/MWh
(92.46)(208.25)(155.59)(90.67)(137.93)
LWAP/GWAP%
105%109%107%110%108%
Gas used in internal generationPJ
0.3 1.3 0.7 5.7 8.3
Gas storage net movement (extraction) / injectionPJ
0.5 (0.6)(0.1)2.7 0.8
Tauhara progress tracking actual (target)
94% (95%)N/A90% (92%)N/AN/A
ContactTotal customer connections#
586,000 572,000 584,000 581,000 556,000
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 Q3FY22respectively.
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