• Strong mass market electricity and gas sales, up 24% and 157% respectively
• Wholesale electricity sales up 36%, with higher netbacks
• Renewable development projects progressing as planned
• Hydro storage levels remain healthy across both islands

Contact Energy's December 2025 operating report shows solid performance across the business. In the Customer business, mass market electricity and gas sales were up 24% and 157% respectively compared to December 2024, with mass market netbacks also improving. The Wholesale business recorded a 36% increase in contracted electricity sales, with higher electricity and steam net revenue. Contact's renewable development projects, including the Glenbrook-Ohurua BESS, Kowhai Park Solar, and Te Mihi Stage 2 geothermal, are progressing as planned. Hydro storage levels remain healthy, with South Island controlled storage at 129% of mean and North Island controlled storage at 145% of mean as of 19 January 2026. Inflows into Contact's Clutha catchment were also strong, at 128% of mean in December 2025. The company's contracted gas volume for the next 12 months is 9.0PJ, with some optionality on a portion of this gas.