Slide 1: Annual Meeting
29 SEPTEMBER 2022 Annual Meeting
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements. Forward-looking statements often include words such as "anticipates", "estimates", "expects", "intends", "plans", "believes“ and similar words in connection with discussions of future operating or financial performance. The forward-lo
Slide 3: Jonathan Mason, Chair
Jonathan Mason Chair
Slide 4: Asking questions: online
Asking questions: online Written Questions: Questions may be submitted ahead of the meeting. If you have a question to submit during the live meeting, please select the Q&A tab on the right half of your screen at anytime. Type your question into the field and press submit. Your question will be imme
Slide 5: Asking questions: in the room
Asking questions: in the room Questions may be asked at the relevant time during the meeting. At the relevant time, please raise your hand and wait for the Chair to acknowledge you. A microphone will then be brought to you by a staff member.
Slide 6: Voting: online
Voting: online Once the voting has been opened, the resolutions and voting options will allow voting. To vote, click on the Vote tab, and select your voting direction from the options shown on the screen. You can vote for all resolutions at once or by each resolution. Your vote has been cast when th
Slide 7: Voting: in the room
Voting: in the room You may mark your voting paper at any time. A team member from Computershare will collect the voting forms at the conclusion of the meeting. The Chair will indicate the final opportunity for voting before the papers are collected.
Slide 8: Voting is open
Voting is open
Slide 9: Agenda
Agenda • Ordinary business • Chair’s Address • Group Chief Executive’s Address • Resolution and Final chance for voting • General Business • Questions & Answers • Meeting Close
Slide 10: Dividend (cents per share)
Dividend (cents per share) 8.25 8.25 8.50 8.50 8.00 8.00 8.00 7.75 8.00 7.75 7.50 7.50 7.25 7.50 6.50 6.75 6.00 8.00 8.25 8.25 8.25 8.25 8.25 7.50 7.50 7.75 7.00 7.25 6.50 6.50 6.50 6.50 6.75 6.00 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 Interim Final
Slide 11: Total Shareholder Return (TSR)
Total Shareholder Return (TSR) 16.00% 14.00% 12.00% 10.00% 8.00% 6.00% 4.00% 2.00% 0.00% 5 year 10 year Vector NZX 50
Slide 12: Infrastructure investment and reliability
Infrastructure investment and reliability
Slide 13: Vector Metering: a success story
Vector Metering: a success story Vector Metering Smart Meter installs, NZ and Australia 1,600,000 1,400,000 New Zealand Australia 1,200,000 1,000,000 800,000 600,000 400,000 200,000 - FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 13
Slide 14: Vector's role in decarbonisation
Vector’s role in decarbonisation
Slide 15: Overview of financial performance
Overview of financial performance FY22 FINANCIAL PERFORMANCE ($M) 1,339.0 1,279.3 FY21 FY22 541.5 545.9 518.8 513.5 510.0 499.1 194.6 194.6 201.1 160.9 Revenue Adjusted EBITDA Capital Expenditure Net Profit Net Profit (excl Impairment) Operating Cash Flow -0.7% +0.8% -17.3% +3.3% +3.9% +0.0% Adjuste
Slide 16: Simon Mackenzie, Group Chief Executive
Simon Mackenzie Group Chief Executive
Slide 17: Slide 17
Slide 18: AEPB created 1922
AEPB created 1922
Slide 19: 2021 – 2022 Operational Performance
2021 – 2022 Operational Performance Electricity and Gas Distribution Metering Gas Trading • 600,112 electricity • 93k advanced meters • 7.4% decrease in 9kg connections deployed and billed LPG bottle swaps to in Australia 629,651 • 117,995 gas connections • 18k in New Zealand • LPG volumes down 1.6%
Slide 20: Decarbonisation achievements
Decarbonisation achievements 16.5% Reduction in our carbon footprint from the FY20 baseline (scope 1, 2 and 3) 53.5% Carbon cost abatement curve established which sets science aligned target of 53.5% reduction by 2030 TCFD REPORT 20
Slide 21: Accelerating decarbonisation
Accelerating decarbonisation
Slide 22: Significant investment is needed for energy transition
Significant investment is needed for energy transition Forecast capex 1200 1000 800 Annual capex ($m) 600 400 200 0 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 Non-exempt EDBs (incl Vector) Vector Transpower
Slide 23: Looking ahead
Looking ahead
Slide 24: Jonathan Mason, Chair
Jonathan Mason Chair
Slide 25: Ordinary business
Ordinary business
Slide 26: Election and re-election of Directors
Election and re-election of Directors
Slide 27: Paul Hutchison
Paul Hutchison MB, ChB, FRCOG, FACOG, Dip Com Health, Member of Institute of Directors Paul was elected to the AECT (now Entrust) in 2015. He is a clinician at East Tamaki Health Care, a former member of the New Zealand Medical Council as well as Director of a number of companies and a member of the
Slide 28: Election of Paul Hutchison
Election of Paul Hutchison Proxy voting Votes For 803,751,810 Against 10,152,097 Discretionary 4,587,680 Abstain 114,984
Slide 29: Jonathan Mason
Jonathan Mason MBA, MA, BA Jonathan Mason has extensive commercial experience. He has worked in financial management positions in the oil and gas, chemicals, forest products and dairy industries in New Zealand and the USA for International Paper, ExxonMobil Corporation, Cabot Corporation and Fonterr
Slide 30: Re-election of Jonathan Mason
Re-election of Jonathan Mason Proxy voting Votes For 807,428,235 Against 6,533,520 Discretionary 4,565,688 Abstain 79,128
Slide 31: Paula Rebstock
Paula Rebstock BSc (Econ), Dip & MSc (Econ) Dame Paula Rebstock is a leading Auckland-based economist and company director, who was made a Dame Companion of the New Zealand Order of Merit in 2015. She is Chair of NZ Healthcare Investments (Asia Pacific Healthcare Group), Kiwi Group Holdings, Nationa
Slide 32: Re-election of Paula Rebstock
Re-election of Paula Rebstock Proxy voting Votes For 810,214,088 Against 3,763,008 Discretionary 4,566,654 Abstain 62,821
Slide 33: Alastair Bell
Alastair Bell BCom, CA, CMInstD, PMP, JP Alastair Bell is a chartered accountant, chartered director and qualified member of the Project Management Institute. He has more than 30 years’ experience in the corporate, public and not-for-profit sectors. Alastair balances his professional life between bo
Slide 34: Re-election of Alastair Bell
Re-election of Alastair Bell Proxy voting Votes For 798,850,421 Against 15,093,738 Discretionary 4,555,470 Abstain 106,942
Slide 35: Doug McKay
Doug McKay ONZM, BA, AMP (HARVARD) Doug is Chairman of the Bank of New Zealand and Eden Park Trust Board and has directorships with Genesis, National Australia Bank (NAB), IAG New Zealand Limited and Fletcher Building Limited. Doug began his career with Procter & Gamble, working in a number of roles
Slide 36: Election of Doug McKay
Election of Doug McKay Proxy voting Votes For 813,645,859 Against 197,889 Discretionary 4,638,399 Abstain 124,424
Slide 37: Appointment and remuneration of auditor
Appointment and remuneration of auditor
Slide 38: Appointment and remuneration of auditor
Appointment and remuneration of auditor Proxy voting Votes For 813,534,649 Against 365,773 Discretionary 4,675,322 Abstain 30,827
Slide 39: Alterations to constitution
Alterations to constitution
Slide 40: Alterations to constitution
Alterations to constitution Proxy voting Votes For 775,987,630 Against 34,995,551 Discretionary 4,783,445 Abstain 2,839,945
Slide 41: Director remuneration
Director remuneration
Slide 42: Director remuneration
Director remuneration Proxy voting Votes For 812,677,672 Against 1,322,721 Discretionary 4,493,072 Abstain 113,106
Slide 43: General business and Q&A
General business and Q&A
Slide 44: Final chance for voting
Final chance for voting
Slide 45: Thank you
Thank you