Mercury Nz Ltd. · NZX:MCY
Mercury Nz — Shareholder Meeting (September 2025)
31 slides from Mercury Nz's shareholder meeting presentation, September 2025
Slide 1: Mercury NZ Limited Annual Shareholders' Meeting
MERCURY NZ LIMITED ANNUAL SHAREHOLDERS’ MEETING scam Mercurg®
Slide 2: Online Q&A
ONLINE Q&A Questions * Select the Q&A tab on the right half of your screen at any time. * Type your question into the field xnd press submit. Help * Submit your query in the Q&A tab and a Computershare representative will respond to you directly. * Or call Computershare on 0800 650 034.
Slide 3: Online Voting
ONLINE VOTING Once voting has been opened, the resolutions Computershare and voting options will allow voting. To vote, click on the ‘Vote’ tab, and select your voting direction from the options shown. You can vote for all resolutions at once or by each resolution. Your vote has been cast when the t
Slide 4: Chair's Address – Scott St John
CHAIR'S ADDRESS Scott St John
Slide 5: Agenda
AGENDA Chair’s address Chief Executive’s address Executive presentations on key business activity Resolutions and voting Q&A on general business matters
Slide 6: Your Board
YOUR BOARD & 3 JAMES MILLER RACHEL TAULELE! ROB HAMILTON sco DIRECTOR DIRECTOR DIRECTOR j MIKE TAITOKO ADRIAN LITTLEWOOD HANNAH HAMLING MARK BINNS DIRECTOR DIRECTOR DIRECTOR DIRECTOR SUSAN PETERSON DIRECTOR
Slide 7: Financial Overview
FINANCIAL OVERVIEW SIM Net profit $786M —_EBITDAF $396M Operating expenditure 24 CPS FY25 ordinary dividend $1B FY26 EBITDAF guidance 25 CPS FY26 dividend guidance
Slide 8: Securing Our Energy Future
SECURING OUR ENERGY FUTURE S) — AFFORDABILITY 2 EE SUSTAINABILITY vay a SECURITY
Slide 9: A Fast-Changing Gas Picture
A FAST-CHANGING GAS PICTURE Remaining 2P Gas Reserves 27% . decline in mn 0F28 nag 2020 2021 2022 2023 2024 2025
Slide 10: Market and Policy Evolution
MARKET AND POLICY EVOLUTION * Critical to take whole-of-energy system view. * Evolution needs to support the pace and scale of investment = required for the country’s futag aa energy needs. es
Slide 11: Transition
VT TRANSITION
Slide 12: Chief Executive's Address – Stew Hamilton
CHIEF EXECUTIVE'S ADDRESS Stew Hamilton
Slide 13: Our New Strategic Framework
OUR NEW STRATEGIC FRAMEWORK ASPIRATIONS OUR PURPOSE Tiakina te anamata, ma te tuhono i nga tangata me nga wahio te inamata. connecting people and place today. Taking care of tomorrow, S KAITIAKITANGA Stewardship Our assets and the natural environment are thriving ARUMONI Commercial We are leaders in
Slide 14: A Capable and Multi-Disciplined Executive Team
A CAPABLE AND MULTI-DISCIPLINED EXECUTIVE TEAM STEW HAMILTON CHIEF EXECUTIVE OFFICER > CATHERINE THOMPSON CHIEF SUSTAINABILITY OFFICER TIM THOMPSON Op He <q ¢ RICHARD HOPKINS CHIEF FINANCIAL OFFICER CRAIG NEUSTROSKI CHIEF STRATEGY AND TRANSFORMATION OFFICER MATT TOLCHER EXECUTIVE GM - fi > GENERATIO
Slide 15: Delivering Renewables and Reliability
DELIVERING RENEWABLES AND RELIABILITY S1B Current investment in renewable generation development 3.5TWh New renewables by 2030 5.0 TWh Post 2030 geothermal potential
Slide 16: Delivering Value and Care for Customers
DELIVERING VALUE AND CARE FOR CUSTOMERS * Enabling customers to shift consumption and lower costs. * Providing additional support to those who need it.
Slide 17: Executive Presentation – Tim Thompson
EXECUTIVE PRESENTATION 1 Tim Thompson Executive General Manager, Wholesale
Slide 18: Our Advantaged Portfolio
OUR ADVANTAGED PORTFOLIO NATIONAL DEMANDVS. CATCHMENT INFLOWS 140% _ 130% 4 120% J nlo% | 100% | ——__. 90% —_ 80% PN 70% % of average 50% : 1 2 3 4 5 6 7 8 9 10 N 2 Month of year ( } NATIONAL LOAD e WAIKATO CATCHMENT INFLOWS ‘SI INFLOWS,
Slide 19: Building Value for Tomorrow
BUILDING VALUE FOR TOMORROW 7 4 HIGHER CONFIDENCE OPTIONS > i OPTIONALITY MAINTAINED -> 35 PLAN TO DELIVER 3.5 TWh BY 2030 ' 3.0 J 25 | 150MW BESS £ t z H e 1 2.0 4 1 15 J 1 MH2 WF 1 MH2 WF MH2 WF IN CONSTRUCTION ' eee ee eee eee eee ee 1.0 J KAIWAIKAWE WF KAIWAIKAWE WF t KAIWAIKAWE WF KAIWAIKAWE WF
Slide 20: Executive Presentation – Richard Hopkins
EXECUTIVE PRESENTATION 2 Richard Hopkins Chief Financial Officer
Slide 21: Investing in the Future
INVESTING IN THE FUTURE FY25 MOVEMENT IN NET DEBT 750 (437) 150 (256) 50 (17) “50 (189) (7) -250 EBITDAF Investing Dividends Paid _Interest Tax Working Capital Increase in with Cash Net Debt
Slide 22: Sharpening Our Performance
SHARPENING OUR PERFORMANCE OPERATING EXPENSES 420 5 400 + 380 4 370 370 370 & 360 | 340 4 320 4 300 FY23 FY24 FY25 FY26 FY27 FY28
Slide 23: Business and Resolutions
BUSINESS AND RESOLUTIONS
Slide 24: Re-election of Susan Peterson
That Susan Peterson, who retires and is eligible for re-election, be re-elected as a director of the company.
Slide 25: Re-election of Scott St John
That Scott St John, who retires and is eligible for re-election, be re-elected as a director of the company.
Slide 26: Election of Rob Hamilton
That Rob Hamilton (appointed by the Board as a director on 1 April 2025), who retires and is eligible for election, be elected as a director of the company.
Slide 27: Election of Rachel Taulelei
That Rachel Taulelei (appointed by the Board as a director on 20 August 2025), who retires and is eligible for election, be elected as a director of the company.
Slide 28: Voting
VOTING
Slide 29: Q&A: General Business
Slide 30: Annual Shareholders' Meeting September 2025
ANNUAL SHAREHOLDERS’ MEETING 19 SEPTEMBER 2025
Slide 31: Mercury
Mercury™