Contact Energy Limited · NZX:CEN
Contact Energy — Debt Investor Presentation (October 2026)
25 slides from Contact Energy's debt investor presentation, Oct 22, 2026
Slide 1: Contact Energy Capital Bond – Investor Presentation
Contact Energy Capital Bond – Investor Presentation October 2026 1
Slide 2: Disclaimer and important information
Disclaimer and important information Important Notice Issuer Important Information This presentation has been prepared by Contact Energy Limited (Issuer) in relation to the offer of unsecured, subordinated, redeemable, Neither the Issuer, nor any of its respective directors, officers, employees, aff
Slide 3: Contents
Contents 1 New Zealand electricity sector overview 4–7 2 Introduction to Contact Energy 8 – 14 3 Capital structure, funding and sustainable finance 15 – 17 4 Key terms and dates 18 – 24 3 3
Slide 4: 1. New Zealand electricity sector overview
1. New Zealand electricity sector overview 4 4
Slide 5: New Zealand enjoys a reliable, affordable and environmentally sustainable electricity system
New Zealand enjoys a reliable, affordable and environmentally sustainable electricity system Competitive Regulated monopolies Competitive Spot 4 electricity pool 1 29 8 2.4 Major generators1 National Distribution Retailers over Million consumers transmission businesses 50k connections grid operator
Slide 6: New Zealand’s electricity supply is highly renewable
New Zealand’s electricity supply is highly renewable Stored energy reserves, including gas and coal, remain important sources of system resilience in dry periods Generation share by technology1, % Average controlled hydro lake storage volumes, GWh Solar Gas Wind Coal 3,700 9% 6% Total 1% 1% 3,600 na
Slide 7: NZ market context: Impacts of energy transition apparent
NZ market context: Impacts of energy transition apparent Gas supply is declining New demand is The electricity market is Pricing volatility and seasonal rapidly emerging increasingly renewable spread have increased Domestic gas production has Since 2021 (last 5 years) demand Thermal share of generat
Slide 8: 2. Introduction to Contact Energy
2. Introduction to Contact Energy 8 8
Slide 9: Contact is one of New Zealand’s most significant companies
Contact is one of New Zealand’s most significant companies We own, operate and develop low-cost, long-life renewable generation and storage assets, meeting the evolving needs of our customers 12TWh 3 mean thermal generation1 7 1 peaking stations ~98% renewable geothermal battery stations 26 1 + 1 un
Slide 10: Leading New Zealand’s renewable energy future
Leading New Zealand’s renewable energy future Strategic pillars Lead on new flexibility in NZ Build into new demand Extend our advantage as Accelerate batteries, build advantage in with wind and solar Lead the energy NZ’s geothermal leader hydro flex and maintain gas flex, Deliver lowest-cost divers
Slide 11: New Zealand electricity market was 93% renewable in FY26
New Zealand electricity market was 93% renewable in FY26 High inflows, energy storage and record renewable generation have led to subdued pricing Inflows and hydro: Energy storage: ASX futures soften: Hydro inflows 118% of post market mean.1 FY26 ended with hydro lakes at 135% of Winter 2026 pricing
Slide 12: Renewable investment programme continues
Renewable investment programme continues Current projects under construction represent ~$1.3b of investment1, ~0.5TWh of net new generation Under construction: Glorit • Financial close reached in Solar June 2026. Glorit 150MWac / 287GWh p.a. • Early works underway. Target online Q4 CY28 • Notice to
Slide 13: We are advancing 4TWh+ of priority development options to meet new demand opportunities
We are advancing 4TWh+ of priority development options to meet new demand opportunities And can draw additional projects from our 11TWh+ total pipeline to meet acceleration in customer needs Contact31+ priority Tauhara 2 Total uncommitted generation pipeline of 11TWh+ 50 – 70MW | 415 – 580GWh develo
Slide 14: Strong result with $1,011M EBITDAF reflecting investments in renewable generation
Summary of key financial performance measures Strong result with $1,011M EBITDAF reflecting investments in renewable generation Twelve months ended 30 Twelve months ended Key themes from the results June 2026 (FY26)1 30 June 2025 (FY25)1 Reported Against underlying2 Revenue $3,206M ↓ 3% from $3,306M
Slide 15: 3. Capital structure, funding and sustainable finance
3. Capital structure, funding and sustainable finance 15 15
Slide 16: Streamlined balance sheet
Streamlined balance sheet Post the equity raise and debt consolidation, Contact is well positioned to accelerate investments aligned with Contact31+ Approach and FY26 highlights Closing net debt, $M Borrowing maturities, $M Face value of borrowings less cash Average tenor of 7.2 years as at 30 June
Slide 17: Sustainable Finance Framework overview
Sustainable Finance Framework overview Net proceeds from the proposed green capital bond offering will be allocated against eligible green assets • Contact’s Sustainable Finance Framework dated October 2025 was established in alignment with the principles and recommendations set forth by the Interna
Slide 18: 4. Key terms and dates
4. Key terms and dates 18 18
Slide 19: Key terms of the Capital Bonds
Key terms of the Capital Bonds Issuer Contact Energy Limited (Contact) Instrument Unsecured, subordinated, redeemable, cumulative, interest-bearing, green capital bonds The proceeds from the issue of the Capital Bonds will be used by Contact for the financing and refinancing of renewable generation
Slide 20: Interest payments
Interest payments Interest Rate Interest deferral The Initial Margin and the initial Interest Rate for the period until An interest payment may be deferred at Contact's sole discretion the First Reset Date (19 May 2032) will be determined following for up to five years the Bookbuild If deferred, an
Slide 21: Issuer Redemption rights
Issuer Redemption rights Contact must Redeem the Capital Bonds on the The Redemption price will be: Maturity Date or if an Event of Default occurs If Redemption is on the Maturity Date, following an Event of Default, on a Contact also has a right to Redeem some or all of the Capital Bonds Reset Date
Slide 22: CEN100 vs CEN090 summary
CEN100 vs CEN090 summary New CEN100 Issuance Existing CEN090 Issuance Ranking Unsecured and subordinated Unsecured and subordinated Interest payments Quarterly Quarterly Interest deferral Yes Yes Distribution Stopper Yes Yes Cumulative Yes Yes Term 30.5 years 30 years First Reset Date 5.5 years 5 ye
Slide 23: Key early redemption drivers
Key early redemption drivers 2032 2037 2052 Year 5.5 Year 10.5 Year 25.5 Contact can Redeem the Capital Bonds on 19 May First Step-up Date 19 May 2037 Second Step-up Date 19 May 2052 2032 • The Applicable Margin will increase by 0.25% • The Applicable Margin will increase by 0.75% • Capital Bonds ar
Slide 24: Key information and timeline
Key information and timeline The Offer Bookbuild process Joint Lead Managers, institutional investors and other primary Thursday, 22 October PDS lodged market participants to be invited to participate in the Bookbuild process Opening Date Monday, 2 November No public pool Indicative pricing released
Slide 25: Thank you
Thank you O contact y\
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