May 2026 Operating Report

Monthly Operating Report
May 2026

2
May 2026 overview
»The Customer business recorded:
•Mass market electricity and gas sales of 461GWh (May 2025:
365GWh)
•Mass market netback of $148.13/MWh (May 2025: $145.13/MWh)
»The Wholesale business recorded:
•Contracted wholesale electricity sales, including that sold to the
Customer business, totalled 1,027GWh (May 2025: 768GWh)
•Electricity and steam net revenueof $159.86/MWh (May 2025:
$169.49/MWh)
•Electricity generated (or acquired) of 1,034GWh (May 2025:
842GWh)
•Unit generation cost, which includes acquired generation was
$37.11/MWh (May 2025: $49.26/MWh)
•Own generation cost in the month of $24.31/MWh (May
2025: $42.27/MWh)
»Otahuhu futures settlement wholesale price for the 3
rd
quarter of
2026 (ASX):
•As at11 June 2026: $111.85/MWh
•As at29 May 2026: $118.7/MWh
•As at30 April 2026: $144/MWh
»As at11
th
June 2026, South Island controlled storage was 120% of
mean and North Island controlled storage was 149% of mean.​
»As at11
th
June 2026, total Clutha scheme storage was
127% of mean.​
»Inflows into Contact’s Clutha catchment for May 2026
were 89% of mean (April 2026: 123%, March 2026: 85%,
February 2026: 73%).
»Contact’s contracted gas volume (including contracted swaps)
for the next 12 months is 8.2PJ.
»Contact’s current renewable development projects under
construction:
Project Costs
1
Expected OnlineProject
$273mQ3-CY26Kōwhai Park Solar
2
$712mQ3-CY27Te Mihi Stage 2 geothermal
$235mQ1-CY28Glenbrook-Ohurua Battery 2
$316mQ4-CY28Glorit Solar
2
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.

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
JunJulAugSepOctNovDecJanFebMarAprMayJun
GWh
South Island ActualNorth Island Actual
South Island post-market meanNational post-market mean
0
100
200
CY26CY27CY28CY29
$/MWh
30/06/202530/04/202629/05/2026
0
100
200
CY26CY27CY28CY29
$/MWh
30/06/202530/04/202629/05/2026

Wholesale electricity pricing
1
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
May-26May-25Apr-26
0%
20%
40%
60%
80%
100%
<$35$36-$60$61-$85$86-$110$111-$135$136-$160>$160
% of trading
periods
May-26May-25Apr-26
1
Monthly average wholesale spot electricity price at the OTA and BEN nodes.

5
Total national demand
Regional demand change (%) on May 2025
»New Zealand electricity demand wasup 1.5% on May 2025. When compared to May
2024, demand was down 4.8%.
Source: Contact and Electricity Authority grid demand (reconciled) http://www.emi.ea.govt.nz
FY24, 25and 26 respectively
Regional demand is excluding NZAS
The nationwide
average temperature
for May2026 was
11.4ºC, 0.3ºC above
the 1991-2020 May
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
0%
4%
2%
(2%)
(1%)
(4%)
2%
4%
5%
12%
4%
(1%)
4%
(0%)
1%
4%
(0%)
13%
1%

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
-
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
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
1,100
1,200
Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
$/MWh
GWh
GeothermalHydroThermal
BatteryAcquired generation otherAcquired gen volume via PPA
Contracted electricity salesUnit generation cost (RHS)

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.
7
Operational data
Eleven months endingEleven months endingThe month ended The month ended The month ended
Measure
May 25May 26April 26May 25May 26
3,112 3,111 260 310 317
GWhMass market electricity salesRetail
526 1,025 112 55 143
GWhRetail gas sales
3,638 4,136 372 365 461
GWhMass market electricity and gas sales
311.29 349.82 375.34 325.42 357.60
$/MWhAverage electricity sales price
(139.89)(162.36)(180.45)(156.32)(174.71)
$/MWhElectricity direct pass thru costs
(18.28)(17.05)(17.80)(17.58)(14.27)
$/MWhCost to serve
145.03 154.07 153.24 145.13 148.13
$/MWhCustomer netback
(152.26)(158.05)(161.53)(189.39)(180.91)
$/MWhEnergy cost
6%6%5%6%7%
%Actual electricity line losses
1.9 3.7 0.4 0.2 0.5
PJRetail gas sales
443,000 453,500 460,000 443,500 462,000
#Electricity ICPs
73,000 75,000 78,000 73,000 78,500
#Gas ICPs
116,000 136,000 144,000 122,000 146,000
#Telco connections
3,314 3,311 275 331 341
GWhElectricity sales to Customer businessWholesale
1,446 2,003 199 142 205
GWhElectricity sales to Commercial and Industrial
3,314 5,083 424 295 481
GWhElectricity CFD sales
8,074 10,398 898 768 1,027
GWhContracted electricity sales
207 224 22 21 23
GWhSteam sales
148.66 138.98 148.95 169.49 159.86
$/MWhTotal electricity and steam net revenue
133.54 151.26 187.24 171.20 206.19
$/MWhC&I netback (at the ICP)
4%4%3%4%4%
%C&I line losses
-8 4 -4
GWhBattery output
966 215 7 105 1
GWhThermal generation
4,123 4,490 423 432 450
GWhGeothermal generation
3,022 4,492 418 279 464
GWhHydro generation
8,111 9,205 852 816 919
GWhSpot electricity sales
434 633 41 26 55
GWhAcquired generation other
-759 69 -60
GWhAcquired gen volume via PPA
8,545 10,597 962 842 1,034
GWhElectricity generated (or acquired)
(54.42)(45.66)(44.95)(49.26)(37.11)
$/MWhUnit generation cost (including acquired generation)
1
(4,760)(5,322)(477)(473)(550)
GWhSpot electricity purchases
(3,314)(5,083)(424)(295)(481)
GWhCFD sale settlements
(8,074)(10,405)(901)(768)(1,030)
GWhSpot exposed purchases / CFD settlement
205.35 84.71 100.33 198.17 76.76
$/MWhSpot revenue and settlement on acquired generation (GWAP)
(214.57)(85.53)(103.33)(208.05)(80.75)
$/MWhSpot purchases and settlement on CFDs sold (LWAP)
104%101%103%105%105%
%LWAP/GWAP
8.2 1.9 0.1 0.9 0.0
PJGas used in internal generation
0.9 0.5 (0.3)0.3 0.3
PJGas storage net movement (extraction) / injection
636,000 671,500 691,000 642,000 695,000
#Total customer connectionsContact
(12.37)4.23 (0.74)4.05 1.39
$mRealised gains / (losses) on market derivatives not in a hedge relationship

8
Q3 FY25Q3 FY26
UnitMeasureMaterial theme
27167kt CO
2
-eGreenhouse Gas (GHG)Emissions from generation assets
1
Climate Change
0.1360.032
kt CO
2
-e /
GWh
GHG intensity of generation
2
0.590.41
Million cubic
metres
Freshwater take
3
Water
2,2764,931
Million cubic
metres
Non-consumptive water usage
4
2.83.9
Million cubic
metres
Geothermal fluid discharge to awa (rivers)
2,430
352
#Native rākau(trees) planted by Contact
5
Biodiversity
982
1,621
#Pests caught
6
29
69
#Community initiatives and organisations supported
Community
43% / 57%29% / 71%
% Women/ %
Men
Board
Inclusion and
Diversity
11% / 89%25% / 75%
% Women/ %
Men
Key Management Personnel
Inclusion and
Diversity
46% / 52%42% / 57%
% Women/ %
Men
Employee Gender balance
7
Inclusion and
Diversity
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 hydro schemes and cooling water taken for Wairākeigeothermal power station. Data is not yet available for a small number of the hydro schemes acquired in purchase of Manawa Energy on a basis consistentwith Contact’s
reporting and has not been included.
5
Does not include DrylandCarbon/Forest Partners activities.
6
Predominantly rabbits, hares, rats and possums. Includes pests caught at King Country Energy sites. Pest data at other Manawa Energy sites is not yet available on a basis consistent with Contact’s reporting and has not been included.
7
Includes all permanent, fixed term and casual employees1.4% and 1.4% unspecified in Q3 FY26 and Q3 FY25 respectively.
Contact Energy / Monthly Operating Report
Environment, Social and Governance (ESG)
Note: This information is updated quarterly (October, January, April, July)

9
investor.centre@contactenergy.co.nz
contact.co.nz/aboutus/investor-centre
Investors
Shelley Hollingsworth
Head of Strategy and Investor Relations
contact.co.nz
Instagram.com/Contact_Energy
Linkedin.com/company/contact-energy-ltd
Facebook.com/ContactEnergy
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To find out more about Contact Energy
+64 27 227 2429
Contact Energy / Monthly Operating Report
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