Operational Performance for 9 Months Ended 31 March 2019

OPERATIONAL PERFORMANCE FOR THE 9 MONTHS ENDED 31 MARCH 2019 9 months ended 31 March 2019 2018 % change Electricity Customers1, 5 568,897 561,233 1.4% New connections Net movement in customers2 7,889 5,821 8,421 6,133 (6.3%) (5.1%) Volume distributed (GWh) 6,304 6,264 0.6% SAIDI (minutes) - 12 months to 31 March3 Normal operations4 198.6 226.2 (12.2%) Extreme events 347.1 31.2 n/a Total 545.7 257.4 112.0% Gas Distribution Distribution customers1, 5 110,867 108,738 2.0% New distribution connections Net movement in distribution customers2 2,374 1,638 2,137 2,068 11.1% (20.8%) Distribution volume (PJ) 10.6 10.5 1.0% Gas Trading Natural gas sales (PJ)6 12.0 14.0 (14.3%) Gas liquid sales (tonnes)7 59,278 56,615 4.7% 9kg LPG bottles swapped8 Liquigas LPG tolling (tonnes)9 508,157 115,064 495,205 129,340 2.6% (11.0%) Technology Electricity: smart meters1, 10 1,517,677 1,362,210 11.4% 1. As at 31 March. 2. Net number of customers added during the period, includes disconnected, reconnected and decommissioned ICPs. 3. SAIDI (minutes) for the 12 months ended 31 March 2019 is an unaudited value and subject to change. 4. Normal Operations SAIDI includes the impact of 7 Major Event Days at the cap of 3.37 SAIDI minutes for each event. 5. Billable ICPs. 6. Excludes gas sold as gas liquids. These sales are included within the gas liquids sales tonnages. 7. Total of retail and wholesale LPG and natural gasoline. Includes wholesale volumes from Kapuni and retail volumes via OnGas. Product sold from Kapuni to OnGas is counted twice for the purpose of this metric. 8. Number of 9kg LPG bottles swapped and sold during the year. 9. Product tolled in Taranaki and further tolled in the South Island is counted twice for the purposes of this metric. 10. The number of smart meters deployed as at 31 March 2019 includes 151,472 meters managed but not owned by Vector (31 March 2018: 125,472). The Excel version can be found at: http://vector.co.nz/news ENDS About Vector Vector is New Zealand's leading network infrastructure company which runs a portfolio of businesses delivering energy and communication services to more than one million homes and commercial customers across the country. Vector is leading the country in creating a new energy future for customers and continues to grow and invest in the growth of Auckland and in a wide range of activities and locations. Vector is listed on the New Zealand Stock Exchange with ticker symbol VCT. Our majority shareholder, with voting rights of 75.1%, is Entrust. For further information, visit www.vector.co.nz Contact MEDIA QUERIES: Elissa Downey External Relations Mobile 021-866-146 ANALYST QUERIES: Cameron Baudinet Corporate Development Mobile 021-400-498 End CA:00333583 For:VCT Type:GENERAL Time:2019-04-23 08:30:57