Contact Energy : 2022 Integrated Report

About this update from Contact Energy Limited

only Building a better use Aotearoa New Zealand personal 2022 Integrated Report r Contact INTEGRATED REPORT 2022 r personal use only Welcome to our third integrated report. This report explains how Contact creates value over time, or as we say in our company vision, how we are building a better Aotearoa New Zealand. Our leadership team has reviewed the report and our CEO Mike Fuge and the Board have confirmed it is a true and accurate picture of how Contact created value for our stakeholders in the 12 months to 30 June 2022. We expect it to be of interest to our people, customers, investors, suppliers, business partners, local communities, tangata whenua, legislators, regulators, policymakers and all other stakeholders. It follows the principles-based approach of the Integrated Reporting Framework and reflects our ongoing journey towards integrated thinking, focused on value creation. This report is dated 15 August 2022 and is signed on behalf of the Board of Directors of Contact Energy: Robert McDonald Sandra Dodds Chair Chair, Audit and Risk Committee Our Chair Robert McDonald and the Board of Directors will host shareholders at the Contact Energy AGM in November 2022. The notice of meeting and agenda will be provided to shareholders in October 2022. More than 98 percent of Contact Energy shareholders receive digital reports from us. We are very keen for shareholders to move to digital, and in the meantime, we have ensured the 1,500 integrated reports we print use environmentally responsible paper and inks. We are listed on both the NZX and the ASX. Contact INTEGRATED REPORT 2022 only Contents usepersonal CONTENTS FY22 SUMMARY WHO WE ARE CREATING VALUE STRATEGIC THEMES STRATEGIC ENABLERS GOVERNANCE MATTERS ADDITIONAL DISCLOSURES FINANCIAL STATEMENTS 3 r Contents Jargon buster 4 STRATEGIC THEMES 28 Financial statements 101 Glossary for Te Reo Māori 5 Combined Independent Auditors 127 Grow demand 29 FY22 summary 6 and Limited Assurance Report Grow renewable development 33 Corporate directory 131 Key activity in FY22 6 Decarbonise our portfolio 36 Chair and CEO report 7 Creating outstanding customer 38 Who we are 10 experiences STRATEGIC ENABLERS 42 Our Board 11 Progress against strategic enablers 43 Our leadership team 12 Environment, social and governance 44 Ngā Tikanga 13 Transformative ways of working 53 Our operations 14 Operational excellence 59 Creating value 16 Governance matters 63 What matters most 18 Our Board 64 Our supply chain 22 Code of Conduct and policies 66 External environment 23 Risk management and assurance 66 Energy trilemma 23 Remuneration report 68 Our business model 24 Additional disclosures 75 Our strategy: Contact26 25 Statutory disclosures 76 Progress against strategic themes 27 Sustainability disclosures 81 TCFD index 95 GRI index 96 Contact INTEGRATED REPORT 2022 onlyuse busterJargon personal CONTENTS FY22 SUMMARY WHO WE ARE CREATING VALUE STRATEGIC THEMES STRATEGIC ENABLERS GOVERNANCE MATTERS ADDITIONAL DISCLOSURES FINANCIAL STATEMENTS 4 r Jargon buster ASX Australian Securities Exchange. CEN Contact's stock ticker on NZX and ASX. Contact The company called Contact Energy Limited. Unless otherwise stated, all activities and indicators in this report are for Contact. Contact26 Contact's strategy which sets out the company's priorities and key activities for the five years from 2021-2026. EBITDAF Earnings before interest, tax, depreciation, amortisation, and changes in fair value of financial instruments. EBITDAF is a non-GAAP (generally accepted accounting practice) measure. Information regarding the usefulness, calculation and reconciliation of this measure is provided within note A2 to the financial statements. ESG The environmental, social and governance factors used to evaluate performance. FY21 The financial year ended 30 June 2021. FY22 The financial year ended 30 June 2022. GRI The Global Reporting Initiative is an international independent standards organisation that helps businesses, governments and other organisations understand and communicate their impacts on things like climate change, human rights and corruption. The Group This is Contact Energy Limited, Contact Energy Trustee Company Limited (a subsidiary), Contact Energy Risk Limited (a subsidiary), Simply Energy Limited (a subsidiary), Western Energy Services Limited (a subsidiary), Drylandcarbon One Limited Partnership (an associate) and Forest Partners Limited Partnership (an associate). HSE Health Safety and Environment. An abbreviation for The Integrated Reporting Framework, a principles-based framework for corporate reporting. NZAS Aotearoa New Zealand's Aluminium Smelter is the country's only aluminium smelter and is located on Tiwai Peninsula, across the harbour from Bluff in Southland. NZX New Zealand Stock Exchange. SDGs Sustainable Development Goals are 17 global goals designed to be a "blueprint to achieve a better and more sustainable future for all". The SDGs were set in 2015 by the United Nations General Assembly and intended to be achieved by 2030. TCFD The Task Force for Climate-related Financial Disclosures provides a framework for climate-related financial risk disclosures. Terrawatt A unit of energy equal to outputting one million million watts hour (TWh) for one hour. TISR Total Incident Severity Rate is a leading indicator measure that assesses the potential severity of HSE and process safety incidents. TRIFR Total Recordable Injury Frequency Rate is a globally recognised measure of injury rates that can be benchmarked. TWoW Transformative Ways of Working is one of our major strategic themes. It is focused on reimagining our traditional ways of working. Contact INTEGRATED REPORT 2022 reo Māori Glossary of commonly used Te Reo Māori (Māori language) use Glossary only f lymmoc used te Ākonga Student Aotearoa New Zealand Awa River, stream Hapū Kinship group, subtribe Iwi Extended kinship group, tribe Kaitiaki Guardian, steward Kaitiakitanga Guardianship, stewardship Kaumātua Elder, elderly person, person of status within the whānau Māori Indigenous Peoples of Aotearoa New Zealand Mahi Work, activity Mana whenua The hapū and iwi groups that have territorial rights and authority over land Marae Traditional Māori meeting house Rangatahi Youth Taonga Treasure, anything prized Tangata People of the land, in Aotearoa New Zealand whenua Māori as the Indigenous People are known as the tangata whenua Te Tiriti o The Treaty of Waitangi, Aotearoa New Zealand's Waitangi founding document between the British Crown and Māori chiefs Tikanga Custom, protocol Whakapapa Genealogy, lineage, descent Whānau Extended family, family group Whenua Land, ground personal CONTENTS FY22 SUMMARY WHO WE ARE CREATING VALUE STRATEGIC THEMES STRATEGIC ENABLERS GOVERNANCE MATTERS ADDITIONAL DISCLOSURES FINANCIAL STATEMENTS 5 r Translations have primarily been sourced from Te Aka Māori Dictionary. 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