June 2024 Operating Report

Monthly Operating Report
June 2024

2
June 2024 overview
»The Customer business recorded:
•Mass market electricity and gas sales of 421GWh (June 2023:
430GWh)
•Mass market netback of $123.21/MWh (June 2023: $123.07/MWh)
»The Wholesale business recorded:
•Contracted Wholesale electricity sales, including that sold to
the Customer business, totalled 799GWh (June 2023: 757GWh)
•Electricity and steam net revenue of $167.01/MWh (June 2023:
$162.06/MWh)
•Electricity generated (or acquired) of 842GWh (June 2023:
672GWh)
•The unit generation cost, which includes acquired generation
was $54.53/MWh (June 2023: $27.28/MWh)
•Own generation cost in the month of $42.08/MWh (June
2023: $25.66/MWh)
»Te Huka 3 project progress vs. target for May 2024 was 89% vs.
91%
1
. Steamfield commissioning activity is underway on Te Huka 3.
»Otahuhu futures settlement wholesale price for the 4
th
quarter
of 2024 (ASX):
•As at 8 July 2024: $217/MWh
•As at 28 June 2024: $173/MWh
•As at 31 May 2024: $162/MWh
»As at 15
th
July 2024, South Island controlled storage was 60% of
mean and North Island controlled storage was 63% of mean.​
»As at 15
th
July 2024, total Clutha scheme storage was
49% of mean.​
»Inflows into Contact’s Clutha catchment for June 2024
were 54% of mean. (May 2024: 44%, April 2024: 197%,
March 2024: 68%)
»Contact’s contracted gas volume (including contracted swaps)
for the next 12 months is 7.1PJ
2
.
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.
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.
.
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.

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
JulAugSepOctNovDecJanFebMarAprMayJun
GWh
South Island ActualNorth Island Actual
South Island post-market meanNational post-market mean
0
100
200
300
CY24CY25CY26CY27
$/MWh
30/06/202331/05/202428/06/2024
0
100
200
300
CY24CY25CY26CY27
$/MWh
30/06/202331/05/202428/06/2024

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
Jun-24Jun-23May-24
0%
20%
40%
60%
80%
100%
<$35$36-$60$61-$85$86-$110$111-$135$136-$160>$160
% of trading
periods
Jun-24Jun-23May-24
0
50
100
150
200
250
300
JulAugSeptOctNovDecJanFebMarAprMayJun
$/MWh
FY23 BENFY24 BENFY23 OTAFY24 OTA

5
Total national demand
Regional demand change (%) on June 2023
»New Zealand electricity demand was down 1.6% on June 2023 (down
1.3% on June 2022).
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 June 2024 was
9.9ºC, 0.2ºC lower
than June 2023: 10.1ºC
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
(9%)
(3%)
(2%)
0%
3%
(1%)
2%
0%
1%
1%
(7%)
1%
0%
(8%)
(3%)
4%
4%
(2%)
13%

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.
Note: Impairments and write-offs in FY24 (reported outside EBITDAF) total $50m, including $8m reported at the FY24 interim results.. The majority is associated with peaker damage and Tauhara in line with the increase in cost associated with steam plant rework announced in 2023.
7
Operational data
Measure
The month ended The month ended The month ended Twelve months endingTwelve months ending
June 24June 23May 24June 24June 23
RetailMass market electricity salesGWh354 354 350 3,556 3,481
Retail gas salesGWh67 76 62 661 713
Mass market electricity and gas salesGWh421 430 413 4,216 4,194
Average electricity sales price$/MWh275.20 266.09 277.53 286.38 269.20
Electricity direct pass thru costs$/MWh(125.23)(114.17)(123.21)(125.83)(121.39)
Cost to serve$/MWh(15.36)(14.21)(15.02)(17.47)(16.50)
Customer netback$/MWh123.21 123.07 128.51 131.47 117.92
Energy cost$/MWh(173.86)(151.15)(167.34)(138.97)(121.20)
Actual electricity line losses%6%7%6%6%7%
Retail gas salesPJ0.2 0.3 0.2 2.4 2.6
Electricity ICPs#439,000 428,000 437,000 432,500 427,500
Gas ICPs#72,500 70,000 72,000 71,000 70,000
Telco connections#109,000 86,000 105,175 95,000 79,000
WholesaleElectricity sales to Customer businessGWh378 382 374 3,791 3,727
Electricity sales to Commercial and IndustrialGWh124 107 118 1,456 1,577
Electricity CFD salesGWh297 268 284 3,465 2,375
Contracted electricity salesGWh799 757 776 8,712 7,678
Steam salesGWh17 20 14 194 587
Total electricity and steam net revenue$/MWh167.01 162.06 163.52 131.49 113.25
C&I netback (at the ICP)
1
$/MWh177.80 144.05 196.73 134.23 118.99
C&I line losses%4%4%3%4%4%
Thermal generationGWh168 19 142 1,620 439
Geothermal generationGWh363 276 323 3,388 3,185
Hydro generationGWh237 372 278 3,628 3,919
Spot electricity salesGWh768 667 743 8,635 7,544
Electricity sales – DirectGWh- 1 - - 78
Acquired generationGWh74 5 78 585 150
Electricity generated (or acquired)GWh842 672 821 9,220 7,772
Unit generation cost (including acquired generation)
2
$/MWh(54.53)(27.28)(56.78)(48.02)(33.02)
Spot electricity purchasesGWh(502)(488)(493)(5,247)(5,226)
CFD sale settlementsGWh(297)(268)(284)(3,465)(2,375)
Spot exposed purchases / CFD settlementGWh(799)(756)(776)(8,712)(7,600)
Spot revenue and settlement on acquired generation (GWAP)$/MWh256.90 93.74 297.01 178.21 82.06
Spot purchases and settlement on CFDs sold (LWAP)$/MWh(267.06)(95.86)(318.91)(186.59)(89.42)
LWAP/GWAP%104%102%107%105%109%
Gas used in internal generationPJ1.3 0.2 1.1 13.1 6.2
Gas storage net movement (extraction) / injectionPJ(0.5)0.2 (0.4)(1.9)3.1
Progress tracking actual (target) for Te Huka 3%89% (91%)N/A87% (89%)N/AN/A
ContactTotal customer connections#625,000 590,000 619,000 603,500 582,000
Realised gains / (losses) on market derivatives not in a hedge relationship
3
$m0.70 (6.46)(0.66)(2.26)(26.95)

8
Material themeMeasureUnit
Q4 FY24Q4 FY23
Climate Change
Greenhouse Gas (GHG) Emissions from generation assets
1
kt CO
2
-e
250
83
GHG intensity of generation
2
kt CO
2
-e /
GWh
0.115
0.043
Water
Freshwater take
3
Million cubic
metres
0.600.42
Non-consumptive water usage
4
Million cubic
metres
3,4334,723
Geothermal fluid discharge to awa (rivers)
Million cubic
metres
5.154.27
Biodiversity
Native rākau (trees) planted by Contact
5
#
6,017
6,707
Pests caught
6
#
903
761
Community
Community initiatives and organisations supported#
3329
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% /52%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 Q4 compared to previous quarters. Tauhara generation began in Q4.
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 Q4 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 rats, possums and hedgehogs
7
Includes all permanent, fixed term and casual employees. 1.5% and 1.2% unspecified in Q4 FY24 and Q4 FY23 respectively. Q4 data now includes Simply Energy employees.
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
Contact Energy / Monthly Operating Report
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