July 2026 Operating Report

Monthly Operating Report
July 2026

2
July 2026 overview
»The Customer business recorded:
•Mass market electricity and gas sales of 579GWh (July 2025:
456GWh)
•Mass market netback of $147.19/MWh (July 2025: $148.69/MWh)
»The Wholesale business recorded
1
:
•Contracted wholesale electricity sales, including that sold to the
Customer business, totalled 1,079GWh (July 2025: 987GWh)
•Electricity and steam net revenue of $179.17/MWh (July 2025:
$178.62/MWh)
•Electricity generated (or acquired) of 1,168GWh (July 2025:
1,040GWh)
•Unit generation cost, which includes acquired generation was
$36.99/MWh (July 2025: $47.40/MWh)
•Own generation cost in the month of $27.11/MWh (July
2025: $30.66/MWh)
»Otahuhu futures settlement wholesale price for the 4
th
quarter of
2026 (ASX):
•As at 11 August 2026: $73/MWh
•As at 31 July 2026: $51/MWh
•As at 30 June 2026: $62.60/MWh
»As at 11
th
August 2026, South Island controlled storage was 137%
of mean and North Island controlled storage was 85% of mean.​
»As at 11
th
August 2026, total Clutha scheme storage was
109% of mean.​
»Inflows into Contact’s Clutha catchment for July 2026
were 132% of mean (June 2026: 171%, May 2026: 89%, April
2026: 123%).
»Contact’s contracted gas volume (including contracted swaps)
for the next 12 months is 7.7PJ.
»Contact’s current renewable development projects under
construction:
ProjectExpected OnlineProject Costs
2
Kōwhai Park Solar
3
Q3-CY26$273m
Te Mihi Stage 2 geothermalQ3-CY27$712m
Glenbrook-Ohurua Battery 2Q1-CY28$235m
Glorit Solar
3
Q4-CY28$316m
1
Prior period includes Manawa from 11 July 2025.
2
Total approved project costs. For inclusions and exclusions from total, see Contact’s full disclosures associated with investment announcements.
3
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
AugSeptOctNovDecJanFebMarAprMayJunJulAug
GWh
South Island ActualNorth Island Actual
South Island post-market meanNational post-market mean
0
100
200
CY26CY27CY28CY29
$/MWh
30/06/202530/06/202631/07/2026
0
100
200
CY26CY27CY28CY29
$/MWh
30/06/202530/06/202631/07/2026

Wholesale electricity pricing
1
Otahuhu
Contact Energy / Monthly Operating Report
4
Benmore
Distribution of wholesale market price by trading periods
Wholesale market
1
Monthly average wholesale spot electricity price at the OTA and BEN nodes.
0
50
100
150
200
250
JulAugSeptOctNovDecJanFebMarAprMayJun
$/MWh
FY26 BENFY27 BENFY26 OTAFY27 OTA
0%
20%
40%
60%
80%
100%
<$35$36-$60$61-$85$86-$110$111-$135$136-$160>$160
% of trading
periods
Jul-26Jul-25Jun-26
0%
20%
40%
60%
80%
100%
<$35$36-$60$61-$85$86-$110$111-$135$136-$160>$160
% of trading
periods
Jul-26Jul-25Jun-26

5
Total national demand
Regional demand change (%) on July 2025
»New Zealand electricity demand was up 1.9% on July 2025. When compared to July
2024, demand was up 1.4%.
Source: Contact and Electricity Authority grid demand (reconciled) http://www.emi.ea.govt.nz
FY25, 26 and 27 respectively
Regional demand is excluding NZAS
The nationwide
average temperature
for July 2026 was
8.9ºC, 0.8ºC above
the 1991-2020 July
average. New
Zealand’s 12th-
warmest July on
record
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
(1%)
0%
1%
2%
(5%)
(2%)
1%
2%
1%
(1%)
7%
(0%)
12%
(3%)
4%
6%
1%
2%
(1%)

Wholesale
Contact Energy / Monthly Operating Report
6
Retail
Generation mix, gross sales position and unit generation cost (FY26 and 27
respectively)
Retail sales volumes and netback (FY26 and 27 respectively)
Business performance
-
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)
-
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

Contact Energy / Monthly Operating Report
7
7
Operational data
Measure
The month ended The month ended
1
The month ended
July 26July 25June 26
RetailMass market electricity salesGWh
403 386 342
Retail gas salesGWh
177 70 153
Mass market electricity and gas salesGWh
579 456 495
Average electricity sales price$/MWh
337.08 312.90 347.86
Electricity direct pass thru costs$/MWh
(159.62)(140.42)(170.47)
Cost to serve$/MWh
(11.13)(15.76)(15.06)
Customer netback$/MWh
147.19 148.69 141.18
Energy cost$/MWh
(196.41)(227.10)(191.39)
Actual electricity line losses%
7%7%6%
Retail gas salesPJ
0.6 0.3 0.6
Electricity ICPs#
466,500 447,000 464,000
Gas ICPs#
79,500 73,000 79,000
Telco connections #
151,000 127,000 148,000
Wholesale
1
Electricity sales to Customer business

GWh
431 413 364
Electricity sales to Commercial and IndustrialGWh
183 142 186
Electricity CFD salesGWh
465 432 506
Contracted electricity salesGWh
1,079 987 1,056
Steam salesGWh
23 23 23
Total electricity and steam net revenue$/MWh
179.17 178.62 175.68
C&I netback (at the ICP)$/MWh
230.81 182.75 221.84
C&I line losses%
2%7%5%
Battery outputGWh
2 - 3
Thermal generationGWh
15 29 14
Geothermal generationGWh
461 428 424
Hydro generationGWh
598 458 540
Spot electricity salesGWh
1,076 915 981
Acquired generation otherGWh
23 92 52
Acquired gen volume via PPAGWh
69 34 69
Electricity generated (or acquired)GWh
1,168 1,040 1,101
Unit generation cost (including acquired generation)$/MWh
(36.99)(47.40)(38.16)
Spot electricity purchases

GWh
(617)(555)(552)
CFD sale settlementsGWh
(465)(432)(506)
Spot exposed purchases / CFD settlementGWh
(1,082)(987)(1,059)
Spot revenue and settlement on acquired generation (GWAP)$/MWh
56.49 107.72 39.29
Spot purchases and settlement on CFDs sold (LWAP)$/MWh
(58.37)(112.17)(43.42)
LWAP/GWAP%
103%104%111%
Gas used in internal generationPJ
0.2 0.3 0.1
Gas storage net movement (extraction) / injectionPJ
(0.6)(0.2)(0.0)
ContactTotal customer connections#
706,000 651,000 700,000
Realised gains / (losses) on market derivatives not in a hedge relationship$m
0.73 (2.45)0.15
1
Prior period includes Manawa from 11 July 2025.

Material themeMeasureUnit
Q4 FY26Q4 FY25
Climate Change
Greenhouse Gas (GHG) Emissions from generation assets
1
kt CO
2
-e64190
GHG intensity of generation
2
kt CO
2
-e /
GWh
0.0230.081
Water
Freshwater take
3
Million cubic
metres
0.410.55
Non-consumptive water usage
4
Million cubic
metres
6,6643,245
Geothermal fluid discharge to awa (rivers)
Million cubic
metres
4.274.66
Biodiversity
Native rākau (trees) planted by Contact
5
#
38,085
14,303
Pests caught
6
#
1,523
1,395
Community
Community initiatives and organisations supported#
38
26
Inclusion and
Diversity
Board
% Women/ %
Men
29% / 71%43% / 57%
Inclusion and
Diversity
Key Management Personnel
% Women/ %
Men
22% / 78%11% / 89%
Inclusion and
Diversity
Employee Gender balance
7
% Women/ %
Men
42% / 56%46% / 52%
Note: This information is updated quarterly (October, 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 hydro schemes and cooling water taken for Wairākei geothermal power station.
5
Does not include DrylandCarbon/Forest Partners activities.
6
Predominantly rats, mice 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 employees1.7% and 1.5% unspecified in Q4 FY26 and Q4 FY25 respectively.
Environment, Social and Governance (ESG)
8
Contact Energy / Monthly Operating Report

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
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To find out more about Contact Energy
+64 27 227 2429
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