Mercury NZ (MCY) Corporate presentation summary

Strategic priorities and business overview

• Focus on delivering reliable, renewable energy and accelerating the shift to a low-carbon future, with customers at the center of operations.

• Strategic objectives include generation development uplift, earnings transformation, and building sector confidence through partnerships.

• Operates as an electricity generator and multi-product retailer, with a 22% generation and 25% retail electricity market share in New Zealand.

• Maintains a diversified portfolio of hydro, geothermal, and wind assets, generating approximately 10 TWh annually.

• Achieved 17 consecutive years of ordinary dividend growth through FY25 and targets $1.05b EBITDAF for FY26.

Growth platforms and renewable asset expansion

• Growth driven by baseload geothermal, intermittent wind, and flexible hydro, with a focus on North Island generation near demand centers.

• Plans to expand geothermal and wind capacity, targeting up to 5 TWh geothermal generation, with 2.5 TWh under active development.

• Near-term geothermal projects at Ngā Tamariki and Rotokawa, with first generation targeted for 2030.

• Proven delivery capability demonstrated by on-time, on-budget project completions and disciplined capital allocation.

• Selective growth in third-party solar and battery energy storage systems to enhance portfolio resilience.

Leadership, governance, and remuneration

• Executive team brings extensive experience in energy, finance, sustainability, and customer strategy.

• Board includes recent appointments and ongoing recruitment to strengthen financial expertise.

• FY26 executive remuneration framework emphasizes competitive, performance-aligned, and transparent rewards linked to shareholder value.

• Board resolutions include re-election of key directors and election of an additional director.

• Governance structure supports long-term sustainable growth and sector leadership.