Contact Energy (CEN) investor relations material

Strategic vision and leadership

• Launched Contact31+, a strategy to lead New Zealand's renewable energy future, building on the success of Contact26 and focusing on geothermal, wind, solar, and battery storage expansion.

• Leadership team refreshed and organizational capabilities strengthened to support ambitious growth and transformation goals.

• Focus shifted from decarbonizing electricity to fundamentally transforming and leading the nation's renewable energy supply, with a broader, more ambitious scope.

• Strong stakeholder relationships, empowered people, and advanced technology are central enablers for the strategy.

Market context and opportunity

• New Zealand's energy market is experiencing rapid electrification, increased volatility, and growing demand, driven by industrial conversions, EVs, and declining gas supply.

• Industry has addressed key risks, such as the Aluminium Smelter deal and Huntly Firming Option, providing stability for further renewable build-out.

• The company’s diversified portfolio and cost leadership position it to capture new demand and manage volatility.

Growth targets and investment priorities

• Targeting 250 MW+ new geothermal, 500 MW batteries, 500 MW+ wind, and 450 MWac solar delivered or committed by FY31.

• Major geothermal projects (Te Mihi Stage 2, Tauhara 2/3) and greenfield exploration are underway, with a focus on cost reduction and sustainability.

• Wind and solar growth will leverage large-scale projects, joint ventures, and innovative procurement to lower costs and share risk.

• Battery storage pipeline aims for 900–1,200 MW by 2030, with the first 100 MW online in Q1 CY26 and further expansion planned.

• Capital allocation prioritizes operational reliability, financial strength, disciplined growth, and dividends, with a focus on high-return projects and off-balance sheet financing for wind and solar.