December 2024 Operating Report (revised)

Monthly Operating Report
December 2024

2
December 2024 overview
»The Customer business recorded:
•Mass market electricity and gas sales of 274GWh (December
2023: 279GWh)
•Mass market netback of $156.56/MWh (December 2023:
$145.23/MWh)
»The Wholesale business recorded:
•Contracted Wholesale electricity sales, including that sold to
the Customer business, totalled 699GWh (December 2023:
692GWh)
•Electricity and steam net revenue of $98.75/MWh (December
2023: $96.02/MWh)
•Electricity generated (or acquired) of 765GWh (December 2023:
692GWh)
•The unit generation cost, which includes acquired generation
was $30.68/MWh (December 2023: $40.03/MWh)
•Own generation cost in the month of $26.3/MWh
(December 2023: $37.2/MWh)
»Te Huka 3 project progress vs. target for December 2024 was 98.5%
vs. 100%
1
.
»Battery Energy Storage System (BESS) project progress vs. target for
December 2024 was 39% vs. 41%
1
.
»Otahuhu futures settlement wholesale price for the 1
st
quarter
of 2025 (ASX):
•As at 20 January 2025: $174/MWh
•As at 31 December 2024: $124/MWh
•As at 30 November 2024: $122/MWh
»As at 20
th
January 2025, South Island controlled storage was
108% of mean and North Island controlled storage was 123% of
mean.​
»As at 20
th
January 2025, total Clutha scheme storage was
85% of mean.​
»Inflows into Contact’s Clutha catchment for December
2024 were 108% of mean. (November 2024: 143%;
October 2024: 145%, September 2024: 193%).
»Contact’s contracted gas volume (including contracted swaps)
for the next 12 months is 4.7PJ.
1
The progress target 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
100
200
300
CY25CY26CY27CY28
$/MWh
28/06/202429/11/202431/12/2024
0
50
100
150
200
CY25CY26CY27CY28
$/MWh
28/06/202429/11/202431/12/2024
0
500
1000
1500
2000
2500
3000
3500
4000
4500
JanFebMarAprMayJunJulAugSepOctNovDec
GWh
South Island ActualNorth Island Actual
South Island post-market meanNational post-market mean

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
Dec-24Dec-23Nov-24
0%
20%
40%
60%
80%
100%
<$35$36-$60$61-$85$86-$110$111-$135$136-$160>$160
% of trading
periods
Dec-24Dec-23Nov-24

5
Total national demand
Regional demand change (%) on December 2023
»New Zealand electricity demand was down 1.4% on December 2023 (up 1.6% on
December 2022) due to reduced consumption by NZAS following the activation
of demand response mechanisms. Demand excluding NZAS was up 0.7%.
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 December 2024
was 17.4ºC, 1.5ºC above
the 1991-2020
December average.
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
(3%)
1%
(1%)
(3%)
4%
(1%)
3%
(4%)
(1%)
10%
(0%)
4%
1%
(1%)
2%
(51%)
1%
4%
20%

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
-
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
FY24 unit generation cost is shown on an underlying basis i.e. excluding the impact of an onerous contract provision for the Ahuroa Gas Storage Facility (AGS) (which was $29m in 1H24).
2
From the month of May 2024, Contact excludes the impact of asset write-offs and impairments from EBITDAF to better indicate underlying performance. The impact of this change led to a $4.0m reallocation within the May 2024 operating data (unit generation cost). This impact has
now been reallocated to the period in which the write-off occurred (December 2023) to better align with the historic 1H24 data that will appear in the FY25 interim report (to be released on 17
th
February). The total unallocated costs in 1H24 were $23m.
Note:: In 1H25, Contact incurred $10.2m of unallocated (corporate) costs associated with the proposed acquisition of Manawa. This includes $8.6m of transaction costs and $1.6m of integration preparation costs.
7
Operational data
Measure
The month ended The month ended The month ended Six months endingSix months ending
December 24December 23November 24December 24December 23
RetailMass market electricity salesGWh239 240 248 1,861 1,870
Retail gas salesGWh35 39 42 339 384
Mass market electricity and gas salesGWh274 279 290 2,200 2,254
Average electricity sales price$/MWh328.03 310.60 307.43 292.23 280.27
Electricity direct pass thru costs$/MWh(146.40)(137.77)(142.42)(130.55)(120.44)
Cost to serve$/MWh(20.25)(18.44)(20.70)(16.48)(16.60)
Customer netback$/MWh156.56 145.23 134.39 135.47 131.21
Energy cost$/MWh(110.42)(102.85)(116.80)(147.01)(131.83)
Actual electricity line losses%9%6%10%7%6%
Retail gas salesPJ0.1 0.1 0.1 1.2 1.4
Electricity ICPs#441,500 428,500 442,500 443,000 431,500
Gas ICPs#73,000 70,500 73,000 73,000 71,000
Telco connections#116,000 93,000 115,000 113,500 89,500
WholesaleElectricity sales to Customer businessGWh263 256 274 1,991 1,989
Electricity sales to Commercial and IndustrialGWh131 119 138 777 686
Electricity CFD salesGWh306 316 321 1,849 1,727
Contracted electricity salesGWh699 692 733 4,618 4,402
Steam salesGWh18 18 20 127 118
Total electricity and steam net revenue$/MWh98.75 96.02 115.81 153.35 123.78
C&I netback (at the ICP)$/MWh96.83 93.06 98.63 129.16 123.07
C&I line losses%4%4%4%4%4%
Thermal generationGWh4 97 20 508 817
Geothermal generationGWh402 273 329 2,143 1,652
Hydro generationGWh359 297 391 1,952 1,916
Spot electricity salesGWh765 667 741 4,603 4,386
Acquired generationGWh0250 246 239
Electricity generated (or acquired)GWh765 692 741 4,849 4,624
Unit generation cost (including acquired generation)
1,2
$/MWh(30.68)(40.03) (34.43)(52.47)(43.49)
Spot electricity purchasesGWh(394)(375)(412)(2,769)(2,675)
CFD sale settlementsGWh(306)(316)(321)(1,849)(1,727)
Spot exposed purchases / CFD settlementGWh(699)(692)(733)(4,618)(4,402)
Spot revenue and settlement on acquired generation (GWAP)$/MWh30.32 177.49 30.77 181.61 131.91
Spot purchases and settlement on CFDs sold (LWAP)$/MWh(34.33)(180.02)(37.95)(192.06)(138.59)
LWAP/GWAP%113%101%123%106%105%
Gas used in internal generationPJ0.1 0.9 0.2 4.0 6.7
Gas storage net movement (extraction) / injectionPJ(0.1)(0.0)0.1 1.7 (0.6)
Progress tracking actual (target) for BESS%39%(41%)N/A33%(36%)N/AN/A
Progress tracking actual (target) for Te Huka 3%98.5%(100%)75%(72%)98%(99%)N/AN/A
ContactTotal customer connections#635,000 596,000 635,000 633,500 597,000
Realised gains / (losses) on market derivatives not in a hedge relationship$m0.67 0.30 0.12 (14.34)(2.33)

8
Material themeMeasureUnit
Q2 FY25Q2 FY24
Climate Change
Greenhouse Gas (GHG) Emissions from generation assets
1
kt CO
2
-e132144
GHG intensity of generation
2
kt CO
2
-e /
GWh
0.0600.069
Water
Freshwater take
3
Million cubic
metres
0.400.50
Non-consumptive water usage
4
Million cubic
metres
6,1424,285
Geothermal fluid discharge to awa (rivers)
Million cubic
metres
4.03.5
Biodiversity
Native rākau (trees) planted by Contact
5
#
80
2,516
Pests caught
6
#
643
508
Community
Community initiatives and organisations supported#
33
44
Inclusion and
Diversity
Board
% Women/ %
Men
43% / 57%50% / 50%
Inclusion and
Diversity
Key Management Personnel
% Women/ %
Men
22% / 78%20% / 80%
Inclusion and
Diversity
Employee Gender balance
7
% Women/ %
Men
46% / 53%47% / 53%
Note: This information is updated quarterly (September, January, April, June)
1
Scope 1 – Stationary combustion.
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 i.e., drinking water fire water, water for cooling towers.
4
Water that flows through our Roxburgh power station and cooling water taken for Wairākei geothermal power station.
5
Does not include DrylandCarbon/Forest Partners activities.
6
Predominantly rats, mice and possums.
7
Includes all permanent, fixed term and casual employees. 1.3% and 1.6% unspecified in Q2 FY25 and Q2 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
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