Contact Energy (CEN) AGM 2025 summary

Opening remarks and agenda

• The meeting was opened by the Chair, welcoming shareholders in person and online, and introducing the Board and senior leadership team, including new members from the Manawa Energy acquisition.

• The agenda included Chair and CEO addresses, three resolutions, and opportunities for shareholder questions.

Financial performance review

• EBITDA reached $774 million, up 17% year-on-year, with underlying profit after tax at $261 million, excluding one-off items.

• $1.2 billion invested in new geothermal capacity, with baseload geothermal generation up 34% to 4.5 TWh.

• Annual dividend increased to $0.39 per share, up 5% from the previous year.

• Volatile market conditions due to gas supply decline and hydro variability were managed through risk strategies and flexible generation.

Board and executive committee updates

• Elena Trout is stepping down after nine years of service; Deion Campbell, former Manawa Chair, is standing for election as a director.

• New Chief Retail Officer Carolyn Lui and CFO Matthew Forbes were welcomed to the leadership team.