Annual Meeting | 26 July 2019
Welcome and agenda for the meeting Afternoon tea Chief Executive Resolutions, Wrap up Welcome and Overview including and Questions presentation director from the Chair appointments 2. Trustpower Annual Meeting | 26 July 2019
Paul Ridley-Smith | Chair
• Majority independent directors • Audit & Risk Committee, Governance & Nominations Committee, and People & Remuneration Committee all majority independent directors and all chaired by an independent director 4. Trustpower Annual Meeting | 26 July 2019
Key strategic issues Conduct and culture License to operate Electrification of the NZ economy Respect for the environment and local communities Lake Coleridge 5. Trustpower Annual Meeting | 26 July 2019
Shareholder returns Total Shareholder Return since Demerger 200 180 Since 1 st November 2016, Trustpower has delivered a Total Shareholder Return (TSR) 160 of over 91%, compared to the NZX50 benchmark return of 51.5%. 140 NOTE: TSR includes share price change, and assumes dividends 120 are reinvested in stock on the day they are paid. 100 80 Nov-16 Feb-17 May-17 Aug-17 Nov-17 Feb-18 May-18 Aug-18 Nov-18 Feb-19 May-19 TPW.NZ .NZ50 6. Trustpower Annual Meeting | 26 July 2019
Vince Hawksworth | Chief Executive
Proud to be a Tauranga Company that serves all New Zealand AIMS Games team huddle Durham St Head Office Lloyd Mandeno reunion tour hosted by Trustpower Trustpower TECT rescue helicopter Generation team planting day on Mauao Trustpower Tauranga Christmas Parade 8. Trustpower Annual Meeting | 26 July 2019
Supporting communities throughout New Zealand TOTAL CUSTOMERS BY REGION Bay of Plenty Metro Regional Donated Trustpower vehicle for Community group in Timaru Trustpower’s Oamaru Fire and Steam Festival 22% 48% 29% Trustpower National Community Award Winners, Matipo Wellington Performance Arcade Visiting Trustpower’s Room at Ronald McDonald House in Christchurch Development Trust, Whanganui 9. Trustpower Annual Meeting | 26 July 2019
A focus on excellent customer service 0 20 40 60 80 100 Phone Email 2020 YTD Webchat Virtual Agent FY 2019 Trustpower App Online account self service SMS Balance FY 2018 IVR Outages Chat Bot FY 2017 Re-engagement rate of 80% Facebook (pm) 10. Trustpower Annual Meeting | 26 July 2019
Respecting our Environment – being a good neighbour Some of our team planting natives on Mauao for the fourth year running. That’s over 6,000 plants to date! 11. Trustpower Annual Meeting | 26 July 2019
Respecting our Environment Our generation business Taking care of our taonga fish species – elver transfers and native birds through habitat improvement and pest trapping. 12. Trustpower Annual Meeting | 26 July 2019
What a great place to work – what great people to work with 13. Trustpower Annual Meeting | 26 July 2019
Regulatory environment • Interim Climate Change Committee Report published • The Government’s Electricity Price Review • The Electricity Authority’s Transmission Pricing Methodology Page 12 of the Accelerated Electrification report by ICCC, 30 April 2019 14. Trustpower Annual Meeting | 26 July 2019
FY-20 quarter 1 – unfavourable weather conditions Wholesale Electricity Prices Generation Volumes (excl KCE) 250 160 200 Monthly average $/MWh @ Haywards 150 140 100 120 50 0 100 Apr-19 Jul-19 Oct-19 Jan-20 Forecast volume at time of original guidance Actual/Current forecast 80 Total Retail Sales Volumes 60 400 350 40 300 250 GWh 20 200 150 100 0 Apr-19 Jul-19 Oct-19 Jan-20 50 0 Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar ASX pricing - at time of original guidance ASX pricing - Actual/Current Forecast FY-19 Mass Market/SME FY-19 C&I FY-20 Mass Market/SME FY-20 C&I 15. Trustpower Annual Meeting | 26 July 2019
Alan Bickers | Director Richard Aitken | Director
Disclaimer While all reasonable care has been taken in the preparation of this presentation, Trustpower Limited and its related entities, directors, officers and employees (collectively "Trustpower") do not accept, and expressly disclaim, any liability whatsoever (including for negligence) for any loss howsoever arising from any use of this presentation or its contents. No representation or warranty, expressed or implied, is made as to the accuracy, completeness or thoroughness of the content of the information. All information included in this presentation is provided as at the date of this presentation. Except as required by law or NZX listing rules, Trustpower is not obliged to update this presentation after its release, even if things change materially. The reader should consult with its own legal, tax, investment or accounting advisers as to the accuracy and application of the information contained herein and should conduct its own due diligence and other enquiries in relation to such information. The information in this presentation has not been independently verified by Trustpower. Some of the information set out in the presentation relates to future matters, that are subject to a number of risks and uncertainties (many of which are beyond the control of Trustpower), which may cause the actual results, performance or achievements of Trustpower or the Trustpower Group to be materially different from the future results set out in the presentation. The inclusion of forward-looking information should not be regarded as a representation or warranty by Trustpower or any other person that those forward-looking statements will be achieved or that the assumptions underlying any forward-looking statements will in fact be correct. This presentation may contain a number of non-GAAP financial measures. Because they are not defined by GAAP or IFRS, they should not be considered in isolation from, or construed as an alternative to, other financial measures determined in accordance with GAAP. Although Trustpower believes they provide useful information in measuring the financial performance of the Trustpower Group, readers are cautioned not to place undue reliance on any non-GAAP financial measures. This presentation is for general information purposes only and does not constitute investment advice or an offer, inducement, invitation or recommendation in respect of Trustpower securities. The reader should note that, in providing this presentation, Trustpower has not considered the objectives, financial position or needs of the reader. The reader should obtain and rely on its own professional advice from its legal, tax, investment, accounting and other professional advisers in respect of the reader’s objectives, financial position or needs 21. Trustpower Annual Meeting | 26 July 2019
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