September 2024 Operating Report

Monthly Operating Report
September 2024

2
September 2024 overview
»The Customer business recorded:
•Mass market electricity and gas sales of 389GWh (September
2023: 371GWh)
•Mass market netback of $130.58/MWh (September 2023:
$121.93/MWh)
»The Wholesale business recorded:
•Contracted Wholesale electricity sales, including that sold to
the Customer business, totalled 814GWh (September 2023:
689GWh)
•Electricity and steam net revenue of $174.51/MWh (September
2023: $127.96/MWh)
•Electricity generated (or acquired) of 859GWh (September
2023: 784GWh)
•The unit generation cost, which includes acquired generation
was $52.04/MWh (September 2023: $54.22/MWh)
•Own generation cost in the month of $31.4/MWh
(September 2023: $47.7/MWh)
»Te Huka 3 project progress vs. target for September 2024 was 96% vs.
97%
1
.
»Otahuhu futures settlement wholesale price for the 1
st
quarter
of 2025 (ASX):
•As at 7 October 2024: $171.05/MWh
•As at 30 September 2024: $195/MWh
•As at 30 August 2024: $217/MWh
»As at 13
th
October 2024, South Island controlled storage was
119% of mean and North Island controlled storage was 109% of
mean.​
»As at 13
th
October 2024, total Clutha scheme storage was
117% of mean.​
»Inflows into Contact’s Clutha catchment for September
2024 were 193% of mean. (August 2024: 86%; July 2024:
74%, June 2024: 54%)
2
.
»Contact’s contracted gas volume (including contracted swaps)
for the next 12 months is 6.2PJ.
2
The inflows in the Clutha catchment for August differ from previously reported due to data/access issues with the
NZX Hydro platform at the time of the August Operating Report.
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
OctNovDecJanFebMarAprMayJunJulAugSep
GWh
South Island ActualNorth Island Actual
South Island post-market meanNational post-market mean
0
100
200
300
CY24CY25CY26CY27
$/MWh
30/06/202330/08/202430/09/2024
0
100
200
300
CY24CY25CY26CY27
$/MWh
30/06/202330/08/202430/09/2024

Wholesale electricity pricing
Otahuhu
Contact Energy / Monthly Operating Report
4
Benmore
Distribution of wholesale market price by trading periods
Wholesale market
0
50
100
150
200
250
300
350
400
450
500
JulAugSeptOctNovDecJanFebMarAprMayJun
$/MWh
FY24 BENFY25 BENFY24 OTAFY25 OTA
0%
20%
40%
60%
80%
100%
<$35$36-$60$61-$85$86-$110$111-$135$136-$160>$160
% of trading
periods
Sep-24Sep-23Aug-24
0%
20%
40%
60%
80%
100%
<$35$36-$60$61-$85$86-$110$111-$135$136-$160>$160
% of trading
periods
Sep-24Sep-23Aug-24

5
Total national demand
Regional demand change (%) on September 2023
»New Zealand electricity demand was down 5.1% on September 2023 (down 6.8%
on September 2022). Of this, 4.1% related to reduced consumption by NZAS
following the activation of demand response mechanisms.
Source: Contact and Electricity Authority grid demand (reconciled) http://www.emi.ea.govt.nz
FY23, 24 and 25 respectively
Regional demand is excluding NZAS
The nationwide
average temperature
for September 2024
was 11.2ºC, 0.7ºC lower
than September 2023:
11.9ºC
Electricity demand
Contact Energy / Monthly Operating Report
(4%)
(2%)
1%
(2%)
4%
(1%)
(6%)
(19%)
(0%)
9%
(1%)
4%
(0%)
(2%)
0%
(61%)
(4%)
4%
23%
-
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
JulAugSepOctNovDecJanFebMarAprMayJun
GWh
NZASSouth Island (exc. NZAS)North Island

Wholesale
Contact Energy / Monthly Operating Report
6
Retail
Generation mix, gross sales position and unit generation cost (FY24 and 25
respectively)
Retail sales volumes and netback (FY24 and 25 respectively)
Business performance
-
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
-
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)

Contact Energy / Monthly Operating Report
7
1
Retail netback and energy costs per MWh have been amended in this operating report (including comparative historic periods), to reflect an update in the allocation of retail gas related carbon costs in the operating report which were previously shown as reducing netback rather than
as part of energy costs which they are now. There is no change to EBITDAF.
2
This includes market making activity and is reported outside of EBITDAF.
7
Operational data
Measure
The month ended The month ended The month ended Three months endingThree months ending
September 24September 23August 24September 24September 23
RetailMass market electricity salesGWh318 302 383 1,098 1,090
Retail gas salesGWh71 69 73 219 237
Mass market electricity and gas salesGWh389 371 456 1,317 1,327
Average electricity sales price$/MWh287.09 276.85 275.90 279.01 268.60
Electricity direct pass thru costs$/MWh(131.10)(124.79)(121.69)(122.41)(114.10)
Cost to serve$/MWh(14.64)(19.61)(12.83)(14.04)(15.67)
Customer netback
1
$/MWh130.58 121.93 131.36 131.85 127.09
Energy cost
1
$/MWh(140.18)(125.84)(168.78)(166.75)(148.49)
Actual electricity line losses%4%4%5%6%6%
Retail gas salesPJ0.3 0.3 0.3 0.8 0.9
Electricity ICPs#444,500 433,000 443,500 443,000 432,500
Gas ICPs#73,000 71,000 73,500 73,000 71,000
Telco connections#113,000 89,000 111,000 111,500 88,000
WholesaleElectricity sales to Customer businessGWh332 316 404 1,163 1,160
Electricity sales to Commercial and IndustrialGWh125 114 126 377 345
Electricity CFD salesGWh356 259 310 948 837
Contracted electricity salesGWh814 689 840 2,487 2,342
Steam salesGWh21 18 23 67 61
Total electricity and steam net revenue$/MWh174.51 127.96 204.53 185.57 142.99
C&I netback (at the ICP)$/MWh138.13 124.70 160.08 159.38 143.55
C&I line losses%4%4%3%4%4%
Thermal generationGWh26 174 219 454 626
Geothermal generationGWh362 265 393 1,145 851
Hydro generationGWh398 287 187 803 836
Spot electricity salesGWh787 726 800 2,403 2,312
Electricity sales – DirectGWh- - - - -
Acquired generationGWh72 58 75 223 64
Electricity generated (or acquired)GWh859 784 875 2,625 2,376
Unit generation cost (including acquired generation)$/MWh(52.04)(54.22)(80.39)(64.87)(49.10)
Spot electricity purchasesGWh(457)(430)(530)(1,540)(1,505)
CFD sale settlementsGWh(356)(259)(310)(948)(837)
Spot exposed purchases / CFD settlementGWh(814)(689)(840)(2,487)(2,342)
Spot revenue and settlement on acquired generation (GWAP)$/MWh78.86 115.06 465.77 301.88 122.50
Spot purchases and settlement on CFDs sold (LWAP)$/MWh(90.51)(122.70)(480.85)(318.20)(129.94)
LWAP/GWAP%115%107%103%105%106%
Gas used in internal generationPJ0.3 1.4 1.6 3.4 4.9
Gas storage net movement (extraction) / injectionPJ1.2 (0.0)0.3 0.8 (0.8)
Progress tracking actual (target) for Te Huka 3%96% (97%)61% (59%)94% (95%)N/AN/A
ContactTotal customer connections#635,000 598,000 632,000 632,000 597,000
Realised gains / (losses) on market derivatives not in a hedge relationship
2
$m(0.18)0.66 (11.44)(14.97)(2.60)

8
Material themeMeasureUnit
Q1 FY25Q1 FY24
Climate Change
Greenhouse Gas (GHG) Emissions from generation assets
1
kt CO
2
-e
313
325
GHG intensity of generation
2
kt CO
2
-e /
GWh
0.130
0.141
Water
Freshwater take
3
Million cubic
metres
0.570.69
Non-consumptive water usage
4
Million cubic
metres
3,6713,643
Geothermal fluid discharge to awa (rivers)
Million cubic
metres
4.543.91
Biodiversity
Native rākau (trees) planted by Contact
5
#
46,165
42,679
Pests caught
6
#
851
458
Community
Community initiatives and organisations supported#
2621
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
46% /53%48% / 51%
Note: This information is updated quarterly (September, January, April, June)
1
Scope 1 – Stationary combustion. Q1 emissions from combustion of natural gas in our gas fired power stations reduced by 31% YoY.
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 DrylandCarbon/Forest Partners activities.
6
Predominantly rats, possums and hedgehogs.
7
Includes all permanent, fixed term and casual employees. 1.4% and 1.5% unspecified in Q1 FY25 and Q1 FY24 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
Contact Energy / Monthly Operating Report
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