Tenaga Nasional Bhd · MYX:TENAGA
Tenaga Nasional Bhd — Shareholder Meeting (May 2026)
55 slides from Tenaga Nasional Bhd's shareholder meeting presentation, May 21, 2026
Slide 1: Appendix C - 36th Annual General Meeting
APPENDIX C GH TENAGA NASIONAL Petter. Brighter. 36° ANNUAL GENERAL MEETING 21 MAY 2026 Delivering Tomorrow's Energy Transition
Slide 2: Pre-AGM/Online Questions
TENAGA , NASIONAL;, PRE-AGM/ONLINE QUESTIONS/
Slide 3: AGM Matters
TENAGA , NASIONAL;, AGM MATTERS (2 Qs)
Slide 4: Doorgift to shareholders attending AGM
QUESTION 1 36th AGM FONG LEE YONG TIAN BEE YUEN CHAN AH MOI LEE YEW THIAM YONG BUONG PEAH HOO SOCK MEE LOO YEO MING LEONG WAI SHUEN SIA KOI SOEW TAN LEE SIM YONG JOON FAH LOW SAI MOY SIA CHENG KHOO MENG CHEONG FOONG MUN KEEN NAME : YOON KET @ NG CHOK YOU YONG JOON FAH NG MAY CHIA TAN JING CHEN YIQIA
Slide 5: Request for TNB Integrated Annual Report
QUESTION 2 36th AGM FONG LEE YONG HO WING SENG NAME : LOO YEO MING PANG HENG CHEONG SOO WENG CHONG Q : Request For TNB Integrated Annual Report • In line with the on-going Group’s commitment to the environment, in promoting sustainable practice as well as to achieve greater cost efficiencies, TNB en
Slide 6: Strategy & Growth
36th AGM STRATEGY & GROWTH (5 Qs)
Slide 7: EV charging station market
QUESTION 3 36th AGM NAME : LEE YEW FEI As the EV market share is progressively growing in local, why TNB not dominant into EV charging station Q : market? • TNB’s role goes beyond just operating electric vehicle (EV) chargers, as TNB is responsible to support grid readiness, power infrastructure dev
Slide 8: Data centre contribution to profit
QUESTION 4 36th AGM CHEW CHIEN YUNG NAME : YAP ZHENG How much do the data centre in the country contribute to TNB's profit? Are they subjected to higher rate Q : compared to other industries? • Data centres contribute approximately 4% of TNB’s total electricity sales in FY2025 and continue to provid
Slide 9: Preparing for El Niño 2026-27
QUESTION 5 36th AGM NAME : CHAN WAI-SHIN We commend Tenaga for the transparency of its disclosures and the details provided in the Climate Response and Energy Transition Strategy section of its Sustainability Statement 2025. We would be grateful for further clarification of the following issues: Q :
Slide 10: El Niño preparedness (continued)
QUESTION 5 36th AGM NAME : CHAN WAI-SHIN iii. Furthermore, the extension of three gas power plants and new gas power plant awarded to TNB has strengthened Malaysia’s medium-term security of supply and reinforcing system reliability. iv. Underpinning TNB operational resilience is TNB's comprehensive
Slide 11: Tariffs in Peninsular Malaysia versus Sarawak
QUESTION 6 36th AGM NAME : MOHAMAD HARUSAINEE BIN MOHD TAYAZI Why are electricity tariffs in Peninsular Malaysia still significantly higher than in Sarawak despite Tenaga Q : Nasional Berhad continuing to record strong quarterly profits, and is the heavy dependence on coal and gas still the main fac
Slide 12: Pace of solar and renewable adoption
QUESTION 7 36th AGM NAME : MOHAMAD HARUSAINEE BIN MOHD TAYAZI Why is the adoption of solar energy and renewable energy is not being accelerated more aggressively to reduce Q : dependence on fossil fuels, stabilise electricity tariffs and ease the financial burden on consumers, especially the B40 and
Slide 13: Geopolitical Uncertainties
36th AGM GEOPOLITICAL UNCERTAINTIES (1 Q)
Slide 14: Impact of the Iran war
QUESTION 1 36th AGM DINESH A SADHWANI NAME : HAW CHONG YAN KUEH NGIE ANG What impact (if any) on TNB has been seen so far and is anticipated from the Iran war, whether for FY2026 or Q : moving forward? • We have addressed this in the earlier presentation of questions raised by PNB. A : 14
Slide 15: Strategy & Growth
36th AGM STRATEGY & GROWTH (1 Q)
Slide 16: Overseas investments in Ireland, UK, Saudi Arabia
QUESTION 2 36th AGM NAME : TAN KAN HOCK TNB has investments and power generation assets in Ireland, the United Kingdom, and Saudi Arabia, including renewable energy and fuel-based power plants. • May I know whether the electricity generated from these overseas power plants is physically transmitted
Slide 17: Reducing electricity theft and crypto losses
QUESTION 3 36th AGM NAME : MANOHARAN A/L PACKIAM PILLAI What further actions are being taken by Tenaga Nasional Berhad to reduce illegal electricity theft and Q : cryptocurrency-related losses? TNB has undertaken several initiatives to reduce illegal electricity theft and cryptocurrency-related loss
Slide 18: Modern theft detection technologies
QUESTION 4 36th AGM NAME : MANOHARAN A/L PACKIAM PILLAI Given concerns over weak monitoring and slow enforcement response, why does TNB still rely heavily on old Q : detection methods instead of more modern smart meter analytics, AI-based monitoring, and real-time detection systems? We are actively
Slide 19: Customer service quality and Customer Experience Index
QUESTION 5 36th AGM NAME : MANOHARAN A/L PACKIAM PILLAI With recurring complaints on billing, tenancy changes and Careline responsiveness, what specific actions are Q : management taking to ensure customer service quality genuinely reflects the reported 96% Customer Experience Index? • At TNB, we ta
Slide 20: Development of Jalan Bangsar land
QUESTION 6 36th AGM NAME : TAN KENG CHOK Q : Any plan to develop the vast piece of land at Jln Bangsar? • At the moment, the 70 acres Bangsar land is being used for TNB’s operational needs and requirements where we located our offices. • Future development plan on some portion of the land is subject
Slide 21: Sustainability
36th AGM SUSTAINABILITY (4 Qs)
Slide 22: Emissions-reduction targets and tracking
QUESTION 7 36th AGM NAME : TAN HUI SHIM TNB discloses its Scope 1 and Scope 2 carbon emissions and has articulated long-term decarbonisation ambitions. Could the Board clarify whether TNB has set time-bound, quantitative emissions-reduction targets Q : (including interim targets) aligned with its tr
Slide 23: Consistency of emissions reporting
QUESTION 8 36th AGM NAME : TAN HUI SHIM How does the Board ensure consistency and comparability of emissions reporting across the Group, including Q : subsidiaries such as SESB? • On consistency and comparability, TNB measures GHG emissions in accordance with internationally recognised methodologies
Slide 24: Sustainability KPIs and remuneration
QUESTION 9 36th AGM NAME : TAN HUI SHIM TNB has articulated clear sustainability and energy transition ambitions, including renewable expansion, grid resilience and just transition outcomes. Could the Board clarify which sustainability KPIs are treated as strategic Q : KPIs at Group and subsidiary l
Slide 25: Lahad Datu BESS performance and scaling
QUESTION 10 36th AGM NAME : TAN HUI SHIM TNB has highlighted the 100 MW / 400 MWh Lahad Datu Battery Energy Storage System (BESS) as a key sustainability and grid-stability initiative. Could the Board share how this BESS has performed to date against its Q : intended objectives, including the key KP
Slide 26: Questions from the Floor
TENAGA , NASIONAL;, QUESTIONS FROM THE FLOOR
Slide 27: Board comfort on debt levels and ROIC
QUESTION x1 36th AGM NAME : DR. ISMET YUSOFF (CHIEF EXECUTIVE OFFICER, MSWG) Q : What is the Board’s level of comfort in term of debt levels and also ROIC? • As of 31 December 2025, TNB Group’s gearing stood at 52.7%. • Gearing ratio should be viewed from 2 perspectives, i.e. at Regulated business a
Slide 28: Tariff structure and cost to consumers
QUESTION x2 36th AGM NAME : DR. ISMET YUSOFF (CHIEF EXECUTIVE OFFICER, MSWG) In terms of TNB’s tariff structure, it relies on the government instruction on how much can you charge the Q : customer. Will TNB increase its costs to consumers? • The electricity base tariff structure for Regulatory Perio
Slide 29: Transition scenario analysis
QUESTION x3 36th AGM NAME : DR. ISMET YUSOFF (CHIEF EXECUTIVE OFFICER, MSWG) There is no transition scenario analysis being provided in the FY2025 sustainability statement. When can we Q : expect that? • A comprehensive climate risk study is currently underway, covering both physical and transition
Slide 30: Vendor compliance with statutory labour law
QUESTION 4 36th AGM NAME : NURUL AZLINDA BINTI RAMLEE There have been concerns regarding the vendor whose handling TNB Careline; namely SRG Asia Pacific on their employees’ EPF contribution. Q : • What action does TNB take against vendor that fails to comply statutory labour law? • What measures wil
Slide 31: Labour law in vendor evaluation
QUESTION 55 36th AGM NAME : NURUL AZLINDA BINTI RAMLEE Does TNB include compliance with labour law and statutory contribution as part of vendor evaluation and Q : monitoring process? • Vendors must comply with the TNB Sustainable Procurement Code of Conduct (SPCC), which includes labour rights provi
Slide 32: Returns on RP4 capex investments
QUESTION 6 36th AGM NAME : MOHAMED SHAHREL BIN MOHD YUDIN TNB is embarking on one of the largest CAPEX expansion cycles in its history under RP4 and National Energy Transition Agenda. Q : How will the Board ensure that these very large investments generate returns above TNB cost of capital and creat
Slide 33: Balancing energy transition investment and dividends
QUESTION 7 36th AGM NAME : MOHAMED SHAHREL BIN MOHD YUDIN TNB renewable energy ambition are commendable and strategically important for Malaysia. However, many utility companies globally are facing lower returns from renewable investment combined with rising debt and Q : weaker dividend growth. Can
Slide 34: Board composition
QUESTION 8 36th AGM NAME : MOOTHA KUMARAN A/L BASS The current BOD composition is not reflecting 1 Malaysia. In future, if there is a vacancy, please look into filing Q : up the composition to reflect 1 Malaysia. • The Board reflects varied tenure and age distribution, with directors possessing dive
Slide 35: Chairman's KPI for FY2026
QUESTION x9 36th AGM NAME : MOOTHA KUMARAN A/L BASS Q : What is the Chairman’s KPI for FY2026? • It is a collective effort across the Group, involving both the Board and Management, to deliver the KPIs established at the beginning of the year while meeting the Government's expectations on security o
Slide 36: Tree trimming near power lines
QUESTION x10 36th AGM NAME : MOOTHA KUMARAN A/L BASS There are old trees near my residential area that appear to be too close to overhead power lines, which may Q : pose a safety risk. Can TNB arrange for the relevant team to inspect the area and carry out tree trimming or clearing where necessary t
Slide 37: Plans for nuclear energy
QUESTION x11 36th AGM NAME : ANDREW HERNANDO Q : Does TNB in the future have a plan or at least strive for nuclear energy? • TNB supports the Government’s initiatives to consider nuclear as one of potential future energy options and has established a dedicated Nuclear Energy Unit to undertake feasib
Slide 38: Policy on tenants not paying bills
QUESTION 12 36th AGM NAME : CHEW SING CHEONG Q : Does TNB has any policy for tenant not paying bills? • TNB has a structured process in place for managing accounts with outstanding bills. Disconnection is not carried out arbitrarily, it follows a defined escalation process that includes notices and
Slide 39: Decline in share of results of associates
QUESTION x13 36th AGM NAME : LIM JIT THIN Based on IAR page 471, can the Board explain why or how the share of results of associate dropped by Q : RM 20mil? • The decrease in share of results of associates from RM84 million to RM64 million in 2025 was mainly due to the expiry of the Power Purchase A
Slide 40: Joint venture with Technology Tenaga Perlis
QUESTION x14 36th AGM NAME : LIM JIT THIN Q : Will TNB join venture again with the Technology Tenaga Perlis Consortium? • The 21 years PPA concession which was awarded by the Regulator has expired. Any new generation planting up has to go through a process of selection or competitive bidding exercis
Slide 41: ROI and timeline for fibre business
QUESTION 15 36th AGM NAME : DEBORAH LIM CHEW LIN Q : Could the Board explain on the expectation of ROI and timeline for fibre business? • The foray into the fibre business is aimed at leveraging TNB’s existing infrastructure, with a business model that is inherently focused on medium to long-term ho
Slide 42: Disconnection when tenant does not pay
QUESTION 16 36th AGM NAME : DEBORAH LIM CHEW LIN Q : Why TNB does not cut off electricity when the tenant did not pay for more than 3 months? • TNB has a structured process in place for managing accounts with outstanding bills. Disconnection is not carried out arbitrarily, it follows a defined escal
Slide 43: Vendor engagement platform
QUESTION 17 36th AGM NAME : YAP ZHENG LYM I am a subcontractor and registered vendor with TNB and would like to enquire whether there is a platform or Q : channel available for engagement and dialogue with TNB to discuss and resolve certain issues. • This matter has been escalated to the relevant de
Slide 44: GSPARX business and solar pricing
QUESTION x18 36th AGM NAME : LEE TUCK VEONG Is GSPARX business doing well? Why is the solar panel by GSPARX appear to be priced higher compared to those Q : of other providers in the market? • Yes, GSPARX is a profitable business as rooftop solar PV Investor and Service Provider, where GSPARX provid
Slide 45: Reliance on Independent Power Producers
QUESTION x19 36th AGM NAME : MANOHARAN A/L PACKIAM PILLAI Why does TNB still depending on Independent Power Producers (IPPs) despite having technical experience, and Q : capable in developing and operating own power generation plant? Does the Management have a long-term plan to reduce IPP’s generati
Slide 46: Customer data protection
QUESTION x20 36th AGM NAME : MANOHARAN A/L PACKIAM PILLAI Theres concern on scammers accessing TNB account and IC address. How does TNB's ICT system protect Q : customer data? What actions does TNB plan to take to further strengthen data security and safeguard customer information? • TNB implemented
Slide 47: Borrowings currency mix
QUESTION 21 36th AGM NAME : KHAIRUL ANWAR MUHAMAD Majority of our borrowings are in USD Dollar. Does TNB have plan to change to different currency other than Q : USD e.g. Chinese Yuan? • As at December 2025, 78% of TNB's borrowings in MYR. • TNB aims to maintain a natural hedge by matching its reven
Slide 48: Circuit cut-off and tenant deposits
QUESTION x22 36th AGM NAME : WEE TON WANG Q : Why TNB does not cut off the circuit and take the deposit from the tenants? • TNB has a structured process in place for managing accounts with outstanding bills. Disconnection is not carried out arbitrarily, it follows a defined escalation process that i
Slide 49: Independent and non-independent director balance
QUESTION x23 36th AGM NAME : MOHD SYAZWAN BIN MOHD SEDEK Moving forward there will be more Non-Independent Directors compared to Independent Directors ratio – what Q : is the Board plans to re-balance the Board composition? • The Board, with the support of the TNB Board Nomination and Remuneration C
Slide 50: Operating cash flow, dividends and capex
QUESTION 24 36th AGM NAME : MOHAMAD SHAHREL BIN MOHD YUDIN Can the Board explain whether financial year 2025 operating cash flow sufficiently supports dividends and CAPEX requirements? How much future expansion depends on additional debt funding?Whether free cash flow Q : is expected to improve or w
Slide 51: Retirement age for directors and CEO
QUESTION 25 36th AGM NAME : LEE TUCK VEONG What is TNB's practice on the retirement age for the directors and CEO? Could you also comment on the recent Q : expiry of Ybhg. Datuk Ir Megat tenure? • TNB’s practice for the age limit of the appointed CEO is up to 60 years old. Any extension beyond that,
Slide 52: Youth perspective in energy transition planning
QUESTION 26 36th AGM NAME : ALFRED LOW BOON SIN How does TNB incorporate youth perspective and the future generation (Yayasan & UNITEN) into the Q : sustainability and energy transition planning? • We incorporate youth and future-generation perspectives through education, talent development programm
Slide 53: Coal pricing and supply from Indonesia
QUESTION 27 36th AGM NAME : REDHUAN KENG BIN ABDULLAH Understand that TNB is having a long-term supply and shipping of coal from Indonesia. Is the price fixed on the Q : coal from Indonesia? • The coal price is index linked. • TNBF safeguards against market volatility through a structured resilience
Slide 54: Dividend reinvestment plan
QUESTION 28 36th AGM NAME : CHOO SOK TENG Q : Would TNB consider dividend reinvestment plan in the future? • We do not have plan for Dividend Reinvestment Plan in the foreseeable future. However, continuous assessment will be carried out to ensure timely execution, if necessary. • It will be brought
Slide 55: Food pack for senior citizens
QUESTION 29 36th AGM NAME : CHOO SOK TENG The current food pack selection may not adequately meet the needs of senior citizens. Consideration could be Q : given to providing a more suitable and senior-friendly food pack combination in future events. • We take note of the comment and will improve F&B
Tenaga Nasional Berhad — Shareholder Meeting (May 2026) on 6ix