May 2023 Operating Report

Monthly Operating Report
May 2023

Contact Energy / Monthly Operating Report
2
»The Customer business recorded:
•Mass market electricity and gas sales of 362GWh (May
2022: 384GWh)
•Mass market netback of $127.11/MWh (May 2022:
$108.00/MWh)
»The Wholesale business recorded:
•Contracted Wholesale electricity sales, including that
sold to the Customer business, totalled 741GWh (May
2022: 694GWh)
•Electricity and steam net revenueof $130.02/MWh (May
2022: $111.35MWh)
•Electricity generated (or acquired) of 665GWh (May
2022: 736GWh)
•The unit generation cost, which includes acquired
generation was $29.34/MWh (May 2022: $46.38/MWh)
•Own generation cost in the month of
$27.55/MWh (May 2022: $42.14/MWh)
»Tauhara project progress vs. target for May
2023 was 95% vs. 96%
2.
.
»Otahuhu futures settlement wholesale price
for the 3
rd
quarter of 2023 (ASX):
•As at13 June 2023: $150/MWh
•As at31 May 2023: $147/MWh
•As at28 April 2023: $177/MWh
»As at11
th
June 2023, South Island controlled
storage was 143% of mean and North Island
controlled storage was 164% of mean
•As at11
th
June 2023, total Clutha scheme
storage was 131% of mean
•Inflows into Contact’s Clutha catchment
for May 2023 were 158% of mean. (April
2023: 94%, March 2023: 135%, February
2023: 119%)
»Contact’s contracted gas volume (including
contracted swaps) for the next 12 months is
13.7PJ
3
For the month of May 2023
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.
3
Forecast gas volumes as notified by suppliers, actual gas received is dependent on field delivery.
This excludes gas available at AGS.

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
JunJulAugSepOctNovDecJanFebMarAprMay
GWh
South Island ActualNorth Island Actual
South Island post-market meanNational post-market mean
0
100
200
300
CY23CY24CY25CY26
$/MWh
30/06/202228/04/202331/05/2023
0
100
200
CY23CY24CY25CY26
$/MWh
30/06/202228/04/202331/05/2023

Wholesale electricity pricing
Otahuhu
Contact Energy / Monthly Operating Report
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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
May-23May-22Apr-23
0%
20%
40%
60%
80%
100%
<$35$36-$60$61-$85$86-$110$111-$135$136-$160>$160
% of trading
periods
May-23May-22Apr-23

Contact Energy / Monthly Operating Report
5
Total national demand
Regional demand change (%) onMay 2022
»New Zealand electricity demand was up 1.6% on May 2022 (down 1.4%
on May 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
The nationwide
average temperature
for May 2023 was
13.1ºC, 0.5ºC warmer
than May 2022: 12.6ºC
-
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
JulAugSepOctNovDecJanFebMarAprMayJun
GWh
NZASSouth Island (exc. NZAS)North Island
5%
12%
(1%)
0%
4%
1%
(8%)
(3%)
1%
9%
1%
1%
2%
6%
5%
11%
1%
8%

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)
-
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
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Measure
The month ended The month ended The month ended Eleven months endingEleven months ending
May 23May 22April 23May 23May 22
RetailMass market electricity salesGWh307 315 254 3,128 3,082
Retail gas salesGWh56 69 46 636 694
Mass market electricity and gas salesGWh362 384 300 3,764 3,776
Average electricity sales price$/MWh279.34 252.17 288.33 269.56 252.94
Electricity direct pass thru costs$/MWh(124.16)(117.57)(133.85)(122.21)(118.75)
Cost to serve$/MWh(16.34)(15.31)(17.70)(16.76)(16.47)
Customer netback$/MWh127.11 108.00 124.68 117.33 105.13
Energy cost$/MWh(146.62)(112.18)(121.91)(117.78)(99.25)
Actual electricity line losses%8%7%5%7%7%
Retail gas salesPJ0.2 0.2 0.2 2.3 2.5
Electricity ICPs#426,500 430,500 426,000 427,500 421,000
Gas ICPs#70,000 71,000 70,000 70,000 68,500
Broadband connections#85,000 69,000 84,000 78,500 61,500
WholesaleElectricity sales to Customer businessGWh334 338 268 3,345 3,307
Electricity sales to Commercial and IndustrialGWh127 131 118 1,469 1,331
Electricity CFD salesGWh281 225 214 2,107 2,725
Contracted electricity salesGWh741 694 600 6,921 7,363
Steam salesGWh31 25 46 567 577
Total electricity and steam net revenue$/MWh130.02 111.35 112.68 105.47 99.21
C&I netback (at the ICP)$/MWh131.01 132.28 113.49 117.07 96.35
C&I linelosses%4%4%4%4%5%
Thermal generationGWh18 141 12 421 881
Geothermal generationGWh269 289 263 2,910 3,006
Hydro generationGWh361 262 318 3,546 3,622
Spot electricity salesGWh648 692 592 6,877 7,509
Electricity sales –DirectGWh3 3 5 77 79
Acquired generationGWh1441-145 388
Electricity generated (or acquired)GWh665 736 597 7,099 7,976
Unit generation cost (including acquired generation)
1
$/MWh(29.34)(46.38)(27.08)(33.56)(38.56)
Spot electricity purchasesGWh(457)(466)(381)(4,738)(4,560)
CFD sale settlementsGWh(281)(225)(214)(2,107)(2,725)
Spot exposed purchases / CFD settlementGWh(738)(691)(595)(6,844)(7,285)
Spot revenue and settlement on acquired generation (GWAP)$/MWh68.91 208.87 87.89 80.95 135.54
Spot purchases and settlement on CFDs sold (LWAP)$/MWh(72.50)(219.35)(92.46)(88.71)(145.65)
LWAP/GWAP%105%105%105%110%107%
Gas used in internal generationPJ0.3 1.3 0.3 6.0 9.5
Gas storage net movement (extraction) / injectionPJ0.2 (0.9)0.5 2.9 (0.1)
Tauhara progress tracking actual (target)95% (96%)N/A94% (95%)N/AN/A
ContactTotal customer connections#587,000 577,000 586,000 581,500 558,000
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
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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