September 2026 Operating Report

Monthly Operating Report
September 2026

2
September 2026 overview
»The Customer business recorded:
•Mass market electricity and gas sales of 484GWh (September
2025: 372GWh)
•Mass market netback of $145.99/MWh (September 2025:
$150.12/MWh)
»The Wholesale business recorded:
•Contracted wholesale electricity sales, including that sold to the
Customer business, totalled 978GWh (September 2025:
986GWh)
•Electricity and steam net revenue of $147.46/MWh (September
2025: $162.48/MWh)
•Electricity generated (or acquired) of 1,069GWh (September
2025: 1,106GWh)
•Unit generation cost, which includes acquired generation was
$37.83/MWh (September 2025: $48.79/MWh)
•Own generation cost in the month of $27.57/MWh
(September 2025: $27.73/MWh)
»Otahuhu futures settlement wholesale price for the 1
st
quarter of
2027 (ASX):
•As at 13 October 2026: $115.50/MWh
•As at 30 September 2026: $102.25/MWh
•As at 31 August 2026: $88.50/MWh
»As at 13
th
October 2026, South Island controlled storage was
135% of mean and North Island controlled storage was 78% of
mean.​
»As at 13
th
October 2026, total Clutha scheme storage was
81% of mean.​
»Inflows into Contact’s Clutha catchment for September
2026 were 123% of mean (August 2026: 164%, July 2026:
132%, June 2026: 171%).
»Contact’s contracted gas volume (including contracted swaps)
for the next 12 months is 8.5PJ.
»Contact’s current renewable development projects under
construction:
ProjectExpected OnlineProject Costs
1
Te Mihi Stage 2 geothermalQ3-CY27$712m
Glenbrook-Ohurua Battery 2Q1-CY28$235m
Glorit Solar
2
Q4-CY28$316m
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
OctNovDecJanFebMarAprMayJunJulAugSeptOct
GWh
South Island ActualNorth Island Actual
South Island post-market meanNational post-market mean
0
100
200
CY26CY27CY28CY29
$/MWh
30/06/202531/08/202630/09/2026
0
100
200
CY26CY27CY28CY29
$/MWh
30/06/202531/08/202630/09/2026

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
Sept-26Sept-25Aug-26
0%
20%
40%
60%
80%
100%
<$35$36-$60$61-$85$86-$110$111-$135$136-$160>$160
% of trading
periods
Sept-26Sept-25Aug-26

5
Total national demand
Regional demand change (%) on September 2025
»New Zealand electricity demand was down 0.5% on September 2025. When compared
to September 2024, demand was up 6.0%.
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 September 2026
was 11.0ºC, 0.4ºC
above the 1991-2020
September 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
4%
6%
(0%)
1%
(4%)
(3%)
(3%)
(16%)
2%
6%
3%
(3%)
4%
(3%)
(1%)
1%
3%
0%
(2%)

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 endedThe month ended Three months endingThree months ending
1
September 26September 25August 26September 26September 25
RetailMass market electricity salesGWh
321 312 383 1,107 1,078
Retail gas salesGWh
163 61 167 507 205
Mass market electricity and gas salesGWh
484 372 550 1,613 1,283
Average electricity sales price$/MWh
352.39 325.56 339.23 342.26 316.15
Electricity direct pass thru costs$/MWh
(169.83)(152.25)(161.23)(163.14)(144.34)
Cost to serve$/MWh
(14.87)(16.20)(11.75)(12.46)(14.72)
Customer netback$/MWh
145.99 150.12 148.57 147.30 148.98
Energy cost$/MWh
(151.15)(175.43)(178.38)(176.69)(202.41)
Actual electricity line losses%
6%6%7%6%6%
Retail gas salesPJ
0.6 0.2 0.6 1.8 0.7
Electricity ICPs#
471,000 450,500 469,500 469,000 448,500
Gas ICPs#
80,500 73,000 80,500 80,000 73,000
Telco connections #
154,000 131,000 153,000 152,000 129,000
WholesaleElectricity sales to Customer business

GWh
341 331 411 1,183 1,148
Electricity sales to Commercial and IndustrialGWh
188 161 204 574 472
Electricity CFD salesGWh
449 493 473 1,387 1,443
Contracted electricity salesGWh
978 986 1,087 3,145 3,063
Steam salesGWh
22 22 23 68 68
Total electricity and steam net revenue$/MWh
147.46 162.48 164.59 164.25 168.32
C&I netback (at the ICP)$/MWh
190.72 167.27 205.56 208.86 181.38
C&I line losses%
4%4%3%3%5%
Battery outputGWh
3 - 3 8 -
Thermal generationGWh
3 28 8 26 173
Geothermal generationGWh
416 427 457 1,333 1,314
Hydro generationGWh
520 475 539 1,657 1,397
Spot electricity salesGWh
942 929 1,006 3,024 2,883
Acquired generation otherGWh
43 84 37 103 259
Acquired gen volume via PPAGWh
84 93 82 235 179
Electricity generated (or acquired)GWh
1,069 1,106 1,125 3,362 3,321
Unit generation cost (including acquired generation)$/MWh
(37.83)(48.79)(40.90)(38.57)(51.44)
Spot electricity purchases

GWh
(534)(493)(618)(1,769)(1,620)
CFD sale settlementsGWh
(449)(493)(473)(1,387)(1,443)
Spot exposed purchases / CFD settlementGWh
(983)(986)(1,091)(3,156)(3,063)
Spot revenue and settlement on acquired generation (GWAP)$/MWh
35.07 110.80 76.99 56.54 131.21
Spot purchases and settlement on CFDs sold (LWAP)$/MWh
(38.79)(117.16)(78.17)(59.11)(137.67)
LWAP/GWAP%
111%106%102%105%105%
Gas used in internal generationPJ
0.1 0.2 0.1 0.3 1.5
Gas storage net movement (extraction) / injectionPJ
(0.4)(0.1)(0.5)(1.5)(1.3)
ContactTotal customer connections#
715,000 659,000 712,000 711,000 655,000
Realised gains / (losses) on market derivatives not in a hedge relationship$m
0.07 0.97 0.80 1.60 (1.50)
1
Prior period includes Manawa from 11 July 2025.

Material themeMeasureUnit
Q1 FY27Q1 FY26
Climate Change
Greenhouse Gas (GHG) Emissions from generation assets
1
kt CO
2
-e64162
GHG intensity of generation
2
kt CO
2
-e /
GWh
0.0210.056
Water
Freshwater take
3
Million cubic
metres
0.380.42
Non-consumptive water usage
4
Million cubic
metres
8,5313,878
Geothermal fluid discharge to awa (rivers)
Million cubic
metres
3.164.59
Biodiversity
Native rākau (trees) planted by Contact
5
#
32,454
29,423
Pests caught
6
#
1,340
1,196
Community
Community initiatives and organisations supported#
107
37
Inclusion and
Diversity
Board
% Women/ %
Men
43% / 57%29% / 71%
Inclusion and
Diversity
Key Management Personnel
% Women/ %
Men
25% / 75%22% / 78%
Inclusion and
Diversity
Employee Gender balance
7
% Women/ %
Men
43% / 56%42% / 56%
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, rabbits/hares, 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 employees1.6% and 1.3% unspecified in Q1 FY27 and Q1 FY26 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
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Linkedin.com/company/contact-energy-ltd
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To find out more about Contact Energy
+64 27 227 2429
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