• Launched Contact31+ strategy to lead New Zealand's renewable energy future
• Completed Manawa acquisition, more than 80% of announced cost synergies secured
• Offer made to purchase the remaining 25% of King Country Energy

Contact Energy has reported a net profit of $205m in 1H26 and operating earnings (EBITDAF) of $500m. The period includes the acquisition of Manawa Energy from 11 July 2025, which contributed to the uplift in earnings. Excluding Manawa transaction and integration costs, EBITDAF was $522m, up 26% on 1H25. The improved operating result was driven by a significant lift in renewable generation, with output 97% renewable in 1H26. Contact has announced a $525 million equity raise to advance the execution and potential upsizing of renewable energy projects which would accelerate the Contact31+ strategy. This includes funding for pre-FID drilling on Tauhara 2 to advance steamfield development and explore upsizing capacity from 50MW to 60-70MW, the Glenbrook battery 2.0 (200MW, 400MWh) and Contact's investment in the Glorit solar farm (150MWac / 285GWh p.a.). The proceeds are also expected to enhance Contact's ability to accelerate development pipeline opportunities. Contact has maintained a continuous infrastructure build programme since 2021 with the Tauhara and Te Huka 3 geothermal plants completed and three solar, geothermal and battery projects underway. Contact expects to be rapidly demonstrating the execution of key elements of its Contact31+ strategy, powering expected market growth and bringing new flexibility to support the system as it transitions.

Contact expects to be rapidly demonstrating the execution of key elements of its Contact31+ strategy, powering expected market growth and bringing new flexibility to support the system as it transitions.