Contact Energy FY26 Result: A year of delivery

10 August 2026 Contact Energy FY26 Result: A year of delivery [See table in attached release] Strategic highlights • Completed Manawa acquisition and integration; adding 2.4TWh renewable output in-year.v • Added new flexibility with first 100MW battery online. Started construction on another 200MW. • Expanded flexible supply agreement to support NZ Steel’s electric arc furnace. • Progressed construction of Te Mihi Stage 2 geothermal and advanced Tauhara 2 drilling. • Entered commissioning of Kōwhai Park solar. Confirmed Glorit solar investment. • Secured consent for Southland Wind Farm with a pathway to supply NZAS potline 4. • Contracted 50MW HFO to manage dry year risk and support security of supply. • Entered All-of-Government gas supply agreement, for schools, hospitals and public entities. • Supported 165,000 retail customers to take advantage of off-peak energy.vi • Launched The Good Initiative; more than 60 community groups supported. Delivering financial performance through Manawa integration and renewable investment Contact Energy has reported net profit of $423m in FY26 and operating earnings (EBITDAF) of $1,011m. The period includes the acquisition of Manawa Energy from 11 July 2025, which contributed to the uplift in earnings. The improved operating result was driven by a significant lift in renewable output, up 2.9TWh including PPAs, with total output 98% renewable in FY26. This reflected the addition of the Manawa hydro assets and its contracted PPAs (wind and geothermal), which together contributed 2.4TWh, along with a full period of generation at Contact’s new Te Huka 3 geothermal plant. Higher renewable output supported increased contracted sales. With national hydro inflows in FY26 at 118% of mean, and New Zealand’s hydro storage ending the period 135% of mean, market conditions contrasted sharply with those of FY25. Average pricing on electricity sold was lower at $140/MWh, down 11% from $157/MWh in FY25, reflecting the normalisation of market conditions from a challenging FY25. CFD sales were at lower prices, reflecting generation costs. Contact spent less on gas purchases and acquired generation, costs of which were more expensive in FY25 when fuel was scarce. The acquired Manawa irrigation business contributed to a lift in other income. In FY25 other income was affected by losses on the sale of excess gas to Methanex. Operating costs reflected the combined operations of Contact and Manawa. Cost-reduction synergies of $28m have been secured on a run-rate basis, 100% of target, with $22m recognised in FY26 within other operating costs. “The 2026 financial year has been transformational for Contact, with the completion of the Manawa acquisition and the welcoming of its people and assets. The strong performance of the combined entity has set us up well as we move forward to execute the Contact31+ strategy,” said Chief Executive, Mike Fuge. Operating free cash flow of $648m was up 49% on FY25, driven by the acquisition, improved operating performance and a positive movement in working capital. This was partly offset by higher interest and tax paid and higher maintenance capex reflecting the larger asset base. In February 2026, Contact raised $575m of new equity. This reduced net debt and will enable Contact to advance the execution and potential upsizing of renewable energy projects which would accelerate the Contact31+ strategy. The Board declared a final dividend of 24 cents per share, taking the annual dividend declared for FY26 to 40 cents per share. Shareholders will have the option to participate in Contact’s dividend reinvestment plan at a two percent discount. Supporting New Zealand’s security of energy supply In FY26, Contact took pragmatic steps to support New Zealand’s security of energy supply both for electricity and gas. In August 2025 we entered into a 10-year agreement with Genesis for 50MW of Huntly Firming Options (HFOs), mirroring Genesis’ agreements reached in parallel with Meridian and Mercury. Collectively the agreements help keep Huntly’s Rankine units operational in the event of future supply constraints in a dry year. Contact has invested in two grid-scale batteries at Glenbrook near Auckland. The first 100MW battery came online this March and construction started on a second 200MW battery in that same month. The second battery is expected online in Q1 2028. This will take Contact’s installed battery capacity to 300MW, enabling Contact to free up natural gas used in peak periods, reallocating this to customers. In September 2025, Contact signed an agreement with the Ministry of Business, Innovation and Employment to supply gas to around 100 essential public services. The agreement, which runs for the seven years from 1 October 2025, sees Contact supply around 2PJ of gas a year, ensuring schools and hospitals have certainty of supply - and price. This was made possible by the seven-year supply agreement reached in July 2025 with Greymouth Gas. “Contact’s actions to secure gas for the medium term will support security of supply for essential institutions like schools and hospitals, as well as Kiwi businesses and homes. This way we can help them continue to operate and walk alongside them as they transition to a renewable energy future,” said Mr Fuge. Supporting customers backed by renewable growth In line with its strategy to lead New Zealand’s renewable energy future, Contact continued construction across its committed solar, geothermal and battery projects and has further advanced development options from its 11TWh p.a. pipeline. Contact continues to work closely with existing and potential customers to align proposed future developments with their requirements. In August 2025, Contact entered a new 11-year 50MW supply agreement with major industrial customer NZ Steel to cover periods of higher production from its new electric arc furnace. The agreement for additional energy mirrors the structure of the 30MW off-peak deal reached in 2023, giving NZ Steel long-term renewable energy supply for the ongoing operation of its wider business. “Long-term, flexible electricity supply solutions like these can work for a wide range of customers looking for reliable, renewable energy; all while supporting security of supply,” said Mr Fuge. Contact continues to extend its advantage as New Zealand’s geothermal leader, with construction well progressed at the Te Mihi Stage 2 geothermal development. The plant is scheduled to be online in Q3 CY2027 and will deliver baseload renewable generation to partly replace output from the 1950s-built Wairakei geothermal station. At Tauhara, pre-FID drilling has been underway to advance steamfield development for the proposed Tauhara 2 geothermal plant. Commissioning is underway on the Kōwhai Park solar farm built through Contact’s joint venture with Lightsource bp. The joint venture’s second project, the Glorit solar farm, reached financial close in June. The summer-weighted generation from these solar farms is well suited to support the ~0.5TWh p.a. of dairy electrification load that Contact has under contract. “Since 2021, Contact has maintained a continuous infrastructure build programme, with $2.4 billion committed to renewable projects in the last five years. Our investment has helped to bring the market back into supply and demand balance. Long-dated futures prices have reduced by around 30% since the start of the year, currently at the lower end of our view of long-run wholesale prices,” said Mr Fuge. In April, consent was granted for Contact’s proposed Southland Wind farm; expected to deliver an average annual output of more than 1.2TWh. Contact has signed a letter of intent with Rio Tinto for a PPA to support the potential restart of 50MW line 4 potline at NZAS, new demand that would be backed by generation at Southland Wind. Contact has also further advanced its process to identify a strategic wind partner for its extensive wind pipeline. Contact has today separately announced that it is working together with CDC Data Centres (CDC) to explore a potential data centre development at Stratford, Taranaki. For details see the release “Contact partners with CDC to explore data centre development”. Leading the energy transition at home Total retail connections reached more than 690,000 across electricity, gas, broadband and mobile, up 50,000 on FY25. The continued focus on multi-product customer growth saw the increase of around 15,000 in the period compared to FY25. Supporting New Zealanders, Contact continued to see growth in its Time-of-Use products with more than a third of customers on Good Plans that offer free, or discounted power in return for shifting usage to off peak periods. Around 165,000 households are taking part, up from 144,000 last year. Since launching in August 2021, customers have received more than 403 million hours of free power. We have expanded our Hot Water Sorter programme to 30,000 households, up around 50% on last year, shifting 13GWh of electricity use out of peak periods in FY26. Last winter, backed by $5m for FY26, Contact launched The Good Initiative, a grassroots programme to support communities and customers in need. In its first year, Contact has partnered with 60 community groups, covering the cost of energy, and provided more than 23,000 instances of support to New Zealand households and communities. Contact’s investment in The Good Initiative will increase to $7.5m in FY27 to further support customers in need. Our partnership with Women’s Refuge continues with Contact providing free power and broadband to all refuges and safehouses nationwide. Outlook Looking ahead, the next twelve months will see Contact advancing the execution of its Contact31+ strategy, launched in November 2025. “I have huge aspirations for New Zealand and the part the renewable energy economy must play in creating jobs, building regional communities, powering manufacturing, attracting new industry, and growing the country’s export earnings. We have a clear strategy, strong balance sheet and the proven execution capability to see us lead New Zealand’s renewable energy future,” said Mr Fuge. 1/ CONTACT DETAILS Investor enquiries Shelley Hollingsworth Head of Strategy and Investor Relations +64 27 227 2429 investor.centre@contactenergy.co.nz Media enquiries Louise Wright Head of Communications and Reputation +64 21 840 313 media@contactenergy.co.nz 2/ CONFERENCE CALL A conference call will be held at 11am NZDT on 10 August 2026 regarding Contact’s FY26 results announcement. If you would like to attend the live presentation, please see the details below to view the webcast off your chosen device: Click here to enter the webcast: LIVE EVENT LINK Or access this link via our website: https://contact.co.nz/aboutus/investor-centre i In FY25, the release of the Ahuroa Gas Storage (AGS) onerous contract provision increased reported EBITDAF by $98M and profit by $71M. These impacts have been removed from underlying performance. All variances reflect year-on-year changes in underlying performance. ii Refer to slide 46 of the FY26 results presentation for a definition and reconciliation between statutory profit and the non-GAAP performance measure earnings before net interest expense, tax, depreciation, amortisation, asset impairment and write-offs, and changes in fair value of financial instruments (EBITDAF). iii Refer to Note A3 of the 2026 Full Year financial statements for a definition and reconciliation between cash flow from operating activities and the non-GAAP measure operating free cash flow. Operating free cash flow represents cash available to repay debt, to fund distributions to shareholders and growth capital expenditure. iv Refer to slide 19 of the FY26 results presentation for a definition of average return on invested capital (ROIC). v Includes 0.8TWh renewable output acquired through long-term Power Purchase Agreements (PPAs). vi As at 30 June 2026.