2019 Annual Shareholder Meeting Barbara Chapman Agenda Chair - PowerPoint PPT Presentation

2019 Annual Shareholder Meeting

Barbara Chapman

Agenda Chair Chief Address Executive Address Shareholder Resolutions Questions and Voting

Board of Directors

Corporate Governance

Our electricity sector, the enabler of New Zealand’s low carbon future

NZ’s decarbonisation through electrification We need a system that is resilient to shocks and protects our economy and decarbonisation efforts source: MfE Greenhouse Gas Inventory 1990-2017

Marc England

Reaching 100% renewable electricity has challenges While others take early steps towards renewable electricity, NZ is near the summit

NZ’s transition to a low carbon future needs a low cost, low carbon and reliable electricity system More renewables New technologies Manage the transition

Enabling a more sustainable future 143% 714 1,000 School-gen 450 GWh 250,000 Whio pairs schools increase Trust per annum carbon since 2011 protected engaged established from 2021 offset As kaitiaki of The primary the natural objective is to resources we use produce a stable when producing supply of forestry 50% electricity, iwi 100% generated New relationships are of heavy light vehicle Zealand Unit (NZU) vehicle fleet valued and highly by 2020 carbon credits significant by 2025 to Genesis

Wholesale

National Storage Band NI Storage as % of Average SI Storage as % of Average 140% 140% 120% 120% 100% 100% 80% 80% 60% 60% 40% 40% Low national storage Low North Island storage 20% 20% Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 Dec-18 Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19

Retail

Bottle Gas Monitoring Launch 40% Electricity Power Monitoring Launch Energy IQ Shout I 35% Launch Genesis Power Power Move to the Brand 2.0 Shout III Shout II Future I 30% Dual Fuel Refresh Power 25% Power Shout V Shout IV 20% 15% 10% 5% 0% Jul-17 Aug-17 Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 Dec-18 Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19 Gross Churn Total Net Churn Single Fuel Dual Fuel

For dairy – an innovation proof point Their energy use + our generation Our innovation on = cost out for custom omer Farmers can save 5-25% on their bill A more sustain inable le choice ice Switch energy use times for better value Partner nering ng for success ss For Dairy is exclusive to Fonterra Farm Source farmers

Phone WebChat Email Digital FY19 30% 12% 58% FY18 40% 14% 47% FY17 44% 13% 43% FY16 52% 14% 34%

2020 Financial Year

Shareholder Questions

Resolutions 1. Votes held by the Chairman, Directors and other proxies. 2. This is 68.55% of the total issued shares of 1,023,646,556. 29