August Operating Report

Monthly Operating Report
August2025

2
August 2025 overview
»The Customer business recorded:
•Mass market electricity and gas sales of 454GWh (August 2024:
456GWh)
•Mass market netback of $148.36/MWh (August 2024:
$131.36/MWh)
»The Wholesale business recorded:
•Contracted wholesale electricity sales, including that sold to the
Customer business, totalled 830GWh (August 2024: 840GWh)
•Electricity and steam net revenue of $172.23/MWh (August
2024: $204.53/MWh)
•Electricity generated (or acquired) of 918GWh (August 2024:
875GWh)
•Unit generation cost, which includes acquired generation was
$52.89/MWh (August 2024: $80.39/MWh)
•Own generation cost in the month of $41.4/MWh (August
2024: $64.1/MWh)
»Otahuhu futures settlement wholesale price for the 4
th
quarter of
2025 (ASX):
•As at 11 September 2025: $151.45/MWh
•As at 29 August 2025: $145.35/MWh
•As at 31 July 2025: $137.50/MWh
»As at 11
th
September 2025, South Island controlled storage was
71% of mean and North Island controlled storage was 97% of
mean.​
»As at 11
th
September 2025, total Clutha scheme storage
was 64% of mean.​
»Inflows into Contact’s Clutha catchment for August 2025
were 72% of mean. (July: 108%, June: 84%, May: 100%).
»Contact’s contracted gas volume (including contracted swaps)
for the next 12 months is 8.8PJ.
»Contact’s current renewable development projects under
construction:
ProjectExpected OnlineProject Costs
1
Glenbrook-Ohurua BESSQ1-CY26$163m
Kowhai Park Solar
2
Q2-CY26$273m
Te Mihi Stage 2 geothermalQ3-CY27$712m
1
Total approved project costs. For inclusions and exclusions from total, see Contact’s full disclosures
associated with investment announcements.
2
Being delivered by Contact’s 50/50 Joint Venture with Lightsource bp.
The August Operating Report has been prepared on a Contact
standalone basis. As the Manawa integration progresses, we will
look to provide combined reporting over time.

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
SepOctNovDecJanFebMarAprMayJunJulAugSep
GWh
South Island ActualNorth Island Actual
South Island post-market meanNational post-market mean
0
100
200
CY25CY26CY27CY28
$/MWh
28/06/202431/07/202529/08/2025
0
100
200
CY25CY26CY27CY28
$/MWh
28/06/202431/07/202529/08/2025

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
FY25 BENFY26 BENFY25 OTAFY26 OTA
0%
20%
40%
60%
80%
100%
<$35$36-$60$61-$85$86-$110$111-$135$136-$160>$160
% of trading
periods
Aug-25Aug-24Jul-25
0%
20%
40%
60%
80%
100%
<$35$36-$60$61-$85$86-$110$111-$135$136-$160>$160
% of trading
periods
Aug-25Aug-24Jul-25

5
Total national demand
Regional demand change (%) on August 2024
»New Zealand electricity demand was up 5.6% on August 2024. When compared to
August 2023, demand was down 0.8%.
Source: Contact and Electricity Authority grid demand (reconciled) http://www.emi.ea.govt.nz
FY24, 25 and 26 respectively
Regional demand is excluding NZAS
The nationwide
average temperature
for August 2025 was
8.7ºC, 0.2ºC below the
1991-2020 August
average.
Electricity demand
Contact Energy / Monthly Operating Report
4%
1%
4%
3%
2%
6%
(2%)
(1%)
0%
5%
2%
2%
6%
0%
3%
(20%)
2%
7%
17%
-
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 (FY25 and 26
respectively)
Retail sales volumes and netback (FY25 and 26 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
180
0
100
200
300
400
500
600
700
Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
$/Mwh
GWh
Axis Title
Mass market electricity salesRetail gas salesNetback

Contact Energy / Monthly Operating Report
7
1
FY25 unit generation cost is shown including monthly unwinds of the AGS onerous contract provision. It excludes the $98m provision release which was recognized in June 2025.
Note: EBITDAF contribution from Manawa was $15.4m in August and $25.2m YTD (post transaction completion on 11
th
July 2025).
7
Operational data
Measure
The month ended The month ended The month ended Two months endingTwo months ending
August 25August 24July 25August 25August 24
RetailMass market electricity salesGWh
380 383 386 766 780
Retail gas salesGWh
74 73 70 145 148
Mass market electricity and gas salesGWh
454 456 456 911 928
Average electricity sales price$/MWh
311.74 275.90 312.90 312.33 275.71
Electricity direct pass thru costs$/MWh
(141.83)(121.69)(140.42)(141.12)(118.86)
Cost to serve$/MWh
(12.47)(12.83)(15.76)(14.12)(13.80)
Customer netback$/MWh
148.36 131.36 148.69 148.53 132.39
Energy cost$/MWh
(199.73)(168.78)(227.10)(213.44)(177.88)
Actual electricity line losses%
6%5%7%6%6%
Retail gas salesPJ
0.3 0.3 0.3 0.5 0.5
Electricity ICPs#
449,000 443,500 447,000 448,000 442,500
Gas ICPs#
72,500 73,500 73,000 73,000 73,500
Telco connections #
129,000 111,000 127,000 128,000 110,500
WholesaleElectricity sales to Customer business

GWh
404 404 413 817 831
Electricity sales to Commercial and IndustrialGWh
136 126 121 257 252
Electricity CFD salesGWh
290 310 278 568 591
Contracted electricity salesGWh
830 840 812 1,642 1,674
Steam salesGWh
22 23 23 45 46
Total electricity and steam net revenue$/MWh
172.23 204.53 188.71 180.39 189.42
C&I netback (at the ICP)$/MWh
180.87 160.08 185.56 183.02 169.95
C&I line losses%
3%3%8%5%4%
Thermal generationGWh
116 219 29 145 427
Geothermal generationGWh
459 393 428 887 784
Hydro generationGWh
287 187 324 611 405
Spot electricity salesGWh
862 800 781 1,643 1,616
Acquired generationGWh
55 75 72 127 150
Electricity generated (or acquired)GWh
918 875 852 1,770 1,766
Unit generation cost (including acquired generation)
1
$/MWh
(52.89)(80.39)(42.45)(47.86)(69.62)
Spot electricity purchases

GWh
(540)(530)(534)(1,074)(1,083)
CFD sale settlementsGWh
(290)(310)(278)(568)(591)
Spot exposed purchases / CFD settlementGWh
(830)(840)(812)(1,642)(1,674)
Spot revenue and settlement on acquired generation (GWAP)$/MWh
170.60 465.77 106.38 139.67 410.32
Spot purchases and settlement on CFDs sold (LWAP)$/MWh
(181.69)(480.85)(111.79)(147.11)(428.90)
LWAP/GWAP%
107%103%105%105%105%
Gas used in internal generationPJ
1.0 1.6 0.3 1.2 3.1
Gas storage net movement (extraction) / injectionPJ
(1.0)0.3 (0.2)(1.2)(0.5)
ContactTotal customer connections#
655,000 632,000 651,000 653,000 630,500
Realised gains / (losses) on market derivatives not in a hedge relationship$m
(0.03)(11.44)(2.45)(2.47)(14.79)

8
Material themeMeasureUnit
Q4 FY25Q4 FY24
Climate Change
Greenhouse Gas (GHG) Emissions from generation assets
1
kt CO
2
-e190250
GHG intensity of generation
2
kt CO
2
-e /
GWh
0.0810.115
Water
Freshwater take
3
Million cubic
metres
0.550.60
Non-consumptive water usage
4
Million cubic
metres
3,2453,433
Geothermal fluid discharge to awa (rivers)
Million cubic
metres
4.665.15
Biodiversity
Native rākau (trees) planted by Contact
5
#
14,303
6,017
Pests caught
6
#
1,395
903
Community
Community initiatives and organisations supported#
26
33
Inclusion and
Diversity
Board
% Women/ %
Men
43% / 57%43% / 57%
Inclusion and
Diversity
Key Management Personnel
% Women/ %
Men
11% / 89%20% / 80%
Inclusion and
Diversity
Employee Gender balance
7
% Women/ %
Men
46% / 52%47% / 52%
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, hedgehogs, cats and possums.
7
Includes all permanent, fixed term and casual employees. 1.5% unspecified in each of Q4 FY25 and Q4 FY24.
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
Head of Corporate Finance (Acting)
contact.co.nz
Instagram.com/Contact_Energy
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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