Contact Energy (CEN) investor relations material

Strategic positioning and asset base

• Operates a highly diversified, predominantly renewable generation portfolio with ~98% renewable mean output and 11.8TWh mean generation as of March 2026.

• Owns 7 geothermal stations (plus 1 under construction), 26 hydro schemes, 2 solar farms under construction, and multiple battery and thermal peaking assets.

• Serves 684,000 customer connections and supports over 50,000 shareholders and 114 community organizations.

• Maintains a strong balance sheet with S&P net debt/EBITDAF ratio targeted at 2.6x–2.8x.

• Delivered 13% annual total shareholder return over the past five years, consistently outperforming EBITDAF guidance.

Market context and demand outlook

• Domestic gas production has declined 31% since 2023, accelerating the shift to renewables.

• Electricity demand is set to rise by over 3TWh by 2030 from committed projects in metals, data centres, and dairy sectors.

• Additional large-scale opportunities could add up to 8TWh of demand, especially from data centres and dairy electrification.

• New Zealand is positioned as a competitive location for data centres, with rapid grid connection, low-cost renewable energy, and strong policy support.

Growth strategy and development pipeline

• Strategic pillars focus on geothermal leadership, battery and hydro flexibility, wind and solar expansion, customer empowerment, and operational excellence.

• Over 4TWh of priority renewable projects are advancing, with an 11TWh+ total uncommitted pipeline for future acceleration.

• Major projects include Glorit Solar (150MWac, online Q4 2028), Glenbrook-Ohurua Battery 2 (200MW/400MWh, online Q1 2028), and Te Mihi Stage 2 Geothermal (101MW, online Q3 2027).

• Southland Wind Farm (>325MW, >1,210GWh p.a.) is progressing with a strategic partner process and a non-binding LOI with Rio Tinto.

• Stratford site prioritized for hybrid solar and battery development, leveraging existing gas peaking and transmission capacity.