June Operating Report

Monthly Operating Report
June 2025

2
June 2025 overview
»The Customer business recorded:
•Mass market electricity and gas sales of 410GWh (June 2024:
416GWh)
•Mass market netback of $146.32/MWh (June 2024:
$126.34/MWh)
»The Wholesale business recorded:
•Contracted wholesale electricity sales, including that sold to the
Customer business, totalled 810GWh (June 2024: 795GWh)
•Electricity and steam net revenue of $186.08/MWh (June 2024:
$167.12/MWh)
•Electricity generated (or acquired) of 846GWh (June 2024:
842GWh)
•Unit generation cost, which includes acquired generation was
$54.27/MWh (June 2024: $54.53/MWh)
•Own generation cost in the month of $47.3/MWh (June
2024: $42.1/MWh)
»Otahuhu futures settlement wholesale price for the 4
th
quarter of
2025 (ASX):
•As at 15 July 2025: $138.3/MWh
•As at 30 June 2025: $133.05/MWh
•As at 30 May 2025: $137.35/MWh
»As at 14
th
July 2025, South Island controlled storage was 95% of
mean and North Island controlled storage was 148% of mean.​
»As at 14
th
July 2025, total Clutha scheme storage was
105% of mean.​
»Inflows into Contact’s Clutha catchment for June 2025
were 84% of mean. (May: 100%, April: 106%, March: 75%).
»Contact’s contracted gas volume (including contracted swaps)
for the next 12 months is 7.5PJ.
»Contact’s current renewable development projects under
construction:
ProjectExpected OnlineProject Costs
1
Glenbrook 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.

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
28/06/202430/05/202530/06/2025
0
100
200
CY25CY26CY27CY28
$/MWh
28/06/202430/05/202530/06/2025
0
500
1000
1500
2000
2500
3000
3500
4000
4500
JulAugSepOctNovDecJanFebMarAprMayJunJul
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
Jun-25Jun-24May-25
0%
20%
40%
60%
80%
100%
<$35$36-$60$61-$85$86-$110$111-$135$136-$160>$160
% of trading
periods
Jun-25Jun-24May-25

5
Total national demand
Regional demand change (%) on June 2024
»New Zealand electricity demand was up ~1.2% on June 2024. When compared to June
2023, demand was down ~0.5%.
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 June 2025 was
9.4ºC, 0.7ºC above
the 1991-2020 June
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
2%
3%
2%
1%
4%
2%
3%
0%
2%
5%
1%
1%
2%
2%
1%
(61%)
6%
3%
5%

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
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
1
FY24 unit generation cost is shown on an underlying basis i.e. excluding the net impact of changes in an onerous contract provision for the Ahuroa Gas Storage Facility (AGS).
2
FY25 unit generation cost is shown including monthly unwinds of the AGS onerous contract provision. Given widening winter/summer price separation and an increase in the assessment of operationally accessible storage at AGS, we will be effecting a further release of the provision as at the
30 June 2025 balance date. This amount is subject to review and has not been included in operating report figures.
Note: In FY25, Contact incurred $17.9m of unallocated (corporate) costs associated with the proposed acquisition of Manawa. This includes $10.9m of transaction costs and $6.9m of integration preparation costs.​
7
Operational data
Measure
The month ended The month ended The month ended Twelve months endingTwelve months ending
June 25June 24May 25June 25June 24
RetailMass market electricity salesGWh
348 350 310 3,460 3,551
Retail gas salesGWh
62 67 55 588 661
Mass market electricity and gas salesGWh
410 416 365 4,048 4,212
Average electricity sales price$/MWh
316.79 278.53 325.42 311.85 286.72
Electricity direct pass thru costs$/MWh
(145.16)(126.74)(156.32)(140.42)(125.98)
Cost to serve$/MWh
(17.33)(15.52)(17.58)(18.18)(17.49)
Customer netback$/MWh
146.32 126.34 145.07 145.16 133.32
Energy cost$/MWh
(200.89)(177.53)(189.39)(157.18)(140.84)
Actual electricity line losses%
7%7%6%6%7%
Retail gas salesPJ
0.2 0.2 0.2 2.1 2.4
Electricity ICPs#
444,500 439,000 443,500 443,000 432,500
Gas ICPs#
73,000 72,500 73,000 73,000 71,000
Telco connections #
124,000 109,000 122,000 117,000 95,000
WholesaleElectricity sales to Customer business

GWh
374 375 331 3,689 3,801
Electricity sales to Commercial and IndustrialGWh
120 124 142 1,566 1,456
Electricity CFD salesGWh
315 297 295 3,629 3,465
Contracted electricity salesGWh
810 795 768 8,883 8,721
Steam salesGWh
22 17 21 229 194
Total electricity and steam net revenue$/MWh
186.08 167.12 169.49 152.07 131.36
C&I netback (at the ICP)$/MWh
182.26 177.80 171.20 137.43 134.23
C&I line losses%
-1%4%4%3%4%
Thermal generationGWh
123 168 105 1,088 1,620
Geothermal generationGWh
420 363 432 4,543 3,388
Hydro generationGWh
275 237 279 3,297 3,628
Spot electricity salesGWh
818 768 816 8,928 8,635
Acquired generationGWh
28 74 26 462 585
Electricity generated (or acquired)GWh
846 842 842 9,390 9,220
Unit generation cost (including acquired generation)
1,2
$/MWh
(54.27)(54.53)(49.26)(54.40)(48.01)
Spot electricity purchases

GWh
(495)(498)(473)(5,255)(5,256)
CFD sale settlementsGWh
(315)(297)(295)(3,629)(3,465)
Spot exposed purchases / CFD settlementGWh
(810)(795)(768)(8,883)(8,721)
Spot revenue and settlement on acquired generation (GWAP)$/MWh
122.43 256.90 198.17 197.88 178.21
Spot purchases and settlement on CFDs sold (LWAP)$/MWh
(130.15)(268.33)(208.05)(206.88)(186.39)
LWAP/GWAP%
106%104%105%105%105%
Gas used in internal generationPJ
1.1 1.3 0.9 9.3 13.1
Gas storage net movement (extraction) / injectionPJ
0.6 (0.5)0.3 1.6 (1.9)
ContactTotal customer connections#
646,000 625,000 642,000 636,500 603,500
Realised gains / (losses) on market derivatives not in a hedge relationship$m
(0.67)0.70 4.05 (13.04)(2.26)

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% and 1.5% unspecified in Q4 FY25 and Q4 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
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
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