May 2024 Operating Report

Monthly Operating Report
May 2024

2
May 2024 overview
»The Customer business recorded:
•Mass market electricity and gas sales of 413GWh (May 2023:
362GWh)
•Mass market netback of $128.51/MWh (May 2023: $127.11/MWh)
»The Wholesale business recorded:
•Contracted Wholesale electricity sales, including that sold to
the Customer business, totalled 776GWh (May 2023: 741GWh)
•Electricity and steam net revenue of $163.52/MWh (May 2023:
$134.43/MWh)
•Electricity generated (or acquired) of 821GWh (May 2023:
665GWh)
•The unit generation cost, which includes acquired generation
was $56.78/MWh (May 2023: $29.34/MWh)
•Own generation cost in the month of $49.06/MWh (May
2023: $27.55/MWh)
»Tauhara is currently undergoing its 30-day power station
reliability run (EPC contractor process). Construction tracking
data has been removed from this report.
»Te Huka 3 project progress vs. target for May 2024 was 87% vs.
89%
1
.
»Otahuhu futures settlement wholesale price for the 3
rd
quarter
of 2024 (ASX):
•As at 13 June 2024: $252/MWh
•As at 31 May 2024: $243/MWh
•As at 30 April 2024: $225/MWh
»As at 11
th
June 2024, South Island controlled storage was 72% of
mean and North Island controlled storage was 65% of mean.​
»As at 11
th
June 2024, total Clutha scheme storage was
62% of mean.​
»Inflows into Contact’s Clutha catchment for May 2024
were 44% of mean. (April 2024: 197%, March 2024: 68%,
February 2024: 93%)
»Contact’s contracted gas volume (including contracted swaps)
for the next 12 months is 7.1PJ
2
.
1
The progress target for Te Huka 3 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 andactual
progress as the projects near completion. Figures rounded to the nearest percentage.
Note: Mean hydro references on this page are based on the mean of all reported periods
(i.e. both pre- and post-market data), sourced from NZX.
2
This incorporates the lower bound of the range notified by our suppliers as disclosed to the market on 7 April 2024. Of
note, if drilling results and well performance are lower than expected we could see a further reduction to this forecast.
.

New Zealand controlled hydro storage
against mean / 12 months
ASX futures settlement
Hydro storage and forward prices
3
Benmore
Otahuhu
Contact Energy / Monthly Operating Report
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
CY24CY25CY26CY27
$/MWh
30/06/202330/04/202431/05/2024
0
50
100
150
200
250
CY24CY25CY26CY27
$/MWh
30/06/202330/04/202431/05/2024

Wholesale electricity pricing
Otahuhu
Contact Energy / Monthly Operating Report
4
Benmore
Distribution of wholesale market price by trading periods
Wholesale market
0%
20%
40%
60%
80%
100%
<$35$36-$60$61-$85$86-$110$111-$135$136-$160>$160
% of trading
periods
May-24May-23Apr-24
0%
20%
40%
60%
80%
100%
<$35$36-$60$61-$85$86-$110$111-$135$136-$160>$160
% of trading
periods
May-24May-23Apr-24
0
50
100
150
200
250
300
JulAugSeptOctNovDecJanFebMarAprMayJun
$/MWh
FY23 BENFY24 BENFY23 OTAFY24 OTA

5
Total national demand
Regional demand change (%) on May 2023
»New Zealand electricity demand was up 6.6% on May 2023 (up 8.3% on May 2022)

.
»According to NIWA's Climate Summary for May 24, this May was the coldest in 15 years.
Source: Contact and Electricity Authority grid demand (reconciled) http://www.emi.ea.govt.nz
FY22, 23 and 24 respectively
Regional demand is excluding NZAS
The nationwide
average temperature
for May 2024 was
9.8ºC, 3.3ºC lower than
May 2023: 13.1ºC
Electricity demand
Contact Energy / Monthly Operating Report
-
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
JulAugSepOctNovDecJanFebMarAprMayJun
GWh
NZASSouth Island (exc. NZAS)North Island
(5%)
7%
6%
10%
9%
4%
18%
9%
13%
10%
0%
7%
15%
0%
4%
2%
16%
14%
22%

Wholesale
Contact Energy / Monthly Operating Report
6
Retail
Generation mix, gross sales position and unit generation cost (FY23 and 24
respectively)
Retail sales volumes and netback (FY23 and 24 respectively)
Business performance
-
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
160
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
1
C&I netback is impacted by an accounting adjustment in May to correct for volume allocations in prior months.
2
Unit generation costs are calculated excluding the impact of an onerous contract provision for the Ahuroa Gas Storage facility (AGS). From the month of May 2024, Contact now excludes the impact from asset write-offs and impairments from EBITDAF to better indicate underlying
performance. The impact of the change will be an increase to EBITDAF in FY24 in the July to April period of $7.9m ($4.0m within wholesale and $3.9m corporate). The $4.0m reallocation is reflected within the May 2024 operating data (unit generation cost).
3
This includes market making activity and is reported outside of EBITDAF.
7
Operational data
Measure
The month ended The month ended The month ended Eleven months endingEleven months ending
May 24May 23April 24May 24May 23
RetailMass market electricity salesGWh350 307 264 3,202 3,128
Retail gas salesGWh62 56 45 594 636
Mass market electricity and gas salesGWh413 362 309 3,796 3,764
Average electricity sales price$/MWh277.53 279.34 297.22 287.62 269.56
Electricity direct pass thru costs$/MWh(123.21)(124.16)(139.50)(125.90)(122.21)
Cost to serve$/MWh(15.02)(16.34)(18.90)(17.71)(16.76)
Customer netback$/MWh128.51 127.11 136.31 132.38 117.33
Energy cost$/MWh(167.34)(146.62)(139.29)(135.11)(117.78)
Actual electricity line losses%6%8%6%6%7%
Retail gas salesPJ0.2 0.2 0.2 2.1 2.3
Electricity ICPs#437,000 426,500 434,500 432,000 427,500
Gas ICPs#72,000 70,000 71,500 71,000 70,000
Telco connections#105,000 85,000 101,000 94,000 78,500
WholesaleElectricity sales to Customer businessGWh374 334 281 3,413 3,345
Electricity sales to Commercial and IndustrialGWh118 127 132 1,332 1,469
Electricity CFD salesGWh284 281 261 3,168 2,107
Contracted electricity salesGWh776 741 675 7,913 6,921
Steam salesGWh14 31 12 177 567
Total electricity and steam net revenue$/MWh163.52 134.43 137.02 127.91 108.18
C&I netback (at the ICP)
1
$/MWh196.73 131.01 137.19 130.17 117.07
C&I line losses%3%4%4%4%4%
Thermal generationGWh142 18 59 1,451 421
Geothermal generationGWh323 269 275 3,025 2,910
Hydro generationGWh278 361 333 3,391 3,546
Spot electricity salesGWh743 648 667 7,868 6,877
Electricity sales – DirectGWh- 3 - - 77
Acquired generationGWh78 14 91 511 145
Electricity generated (or acquired)GWh821 665 758 8,378 7,099
Unit generation cost (including acquired generation)
2
$/MWh(56.78)(29.34)(48.79)(47.37)(33.56)
Spot electricity purchasesGWh(493)(457)(413)(4,745)(4,738)
CFD sale settlementsGWh(284)(281)(261)(3,168)(2,107)
Spot exposed purchases / CFD settlementGWh(776)(738)(675)(7,913)(6,844)
Spot revenue and settlement on acquired generation (GWAP)$/MWh297.01 68.91 216.35 170.30 80.95
Spot purchases and settlement on CFDs sold (LWAP)$/MWh(318.91)(72.50)(225.86)(178.47)(88.71)
LWAP/GWAP%107%105%104%105%110%
Gas used in internal generationPJ1.1 0.3 0.5 11.8 6.0
Gas storage net movement (extraction) / injectionPJ(0.4)0.2 0.1 (1.4)2.9
Progress tracking actual (target) for Te Huka 3%87% (89%)N/A85% (86%)N/AN/A
ContactTotal customer connections#619,000 587,000 612,000 601,500 581,500
Realised gains / (losses) on market derivatives not in a hedge relationship
3
$m(0.66) (3.59)0.55 (2.97)(20.49)

8
Material themeMeasureUnit
Q3 FY24Q3 FY23
Climate Change*
Greenhouse Gas (GHG) Emissions from generation assets
1
kt CO
2
-e
234157
GHG intensity of generation
2
kt CO
2
-e /
GWh
0.1130.091
Water
Freshwater take
3
Million cubic
metres
0.800.52
Non-consumptive water usage
4
Million cubic
metres
3,3543,256
Geothermal fluid discharge to awa (rivers)
Million cubic
metres
4.113.70
Biodiversity
Native rākau (trees) planted by Contact
5
#
01,000
Pests caught
6
#
761691
Community
Community initiatives and organisations supported#
1510
Inclusion and
Diversity
Board
% Women/ %
Men
43% / 57%57% / 43%
Inclusion and
Diversity
Key Management Personnel
% Women/ %
Men
20% / 80%20% / 80%
Inclusion and
Diversity
Employee Gender balance
7
% Women/ %
Men
47% / 53%46% / 53%
Note: This information is updated quarterly (September, January, April, June)
1
Scope 1 – Stationary combustion. In FY23 stationary combustion was 99.94% of Contact’s total Scope 1 emissions. There was more thermal generation in Q3 compared to previous quarters.
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. There was more thermal generation in Q3 compared to previous quarters, therefore more cooling water required.
4
Water that flows through our Roxburgh power station and cooling water for our geothermal power stations
5
Does not include DrylandCarbon/Forest Partners activities
6
Predominantly stoats, rats and possums
7
Includes all permanent, fixed term and casual employees. 1.8% and 1.3% unspecified in Q3 FY24 and Q3 FY23 respectively.
Contact Energy / Monthly Operating Report
Environment, Social and Governance (ESG)

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
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