#1CLPG中電|120 years 同行望遠 of shared vision CLP Holdings 2021 Interim Results Analyst Briefing 2 August 2021 Energy for Brighter Tomorrows#2Disclaimer Potential investors, analysts and shareholders of CLP Holdings Limited (the Company) and other recipients of this document are reminded that this document and any oral discussion made together with this document (the presentation) are provided for your information purposes only and you may not forward, publish, distribute, release or disseminate any part of the presentation directly or indirectly to any other person. It is important to note that the contents of the presentation have not been audited or independently verified. Maps included in the presentation are indicative only. They are provided for the purpose of showing the approximate location of the Company's assets, and do not purport to show the official political borders between different countries. Some comments, including comments relating to future events and our expectations about the performance of CLP's business, are based on a number of factors that we cannot accurately predict or control. We do not make, and expressly disclaim, any representations and warranties in respect of any matters contained in the presentation. We cannot provide any assurance that the information contained in the presentation is or will be accurate or complete and so they should not be relied on. We assume no liability whatsoever for any loss howsoever arising from use of, or in connection with, any of the information and data contained in this presentation. From time to time as circumstances change we may update our website at www.clpgroup.com and will update the Hong Kong Stock Exchange when relevant to comply with our continuous disclosure obligations. 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CLP●中電|120 years 同行望遠 of shared vision 2#3Agenda Overview & Strategy Richard Lancaster Chief Executive Officer Financial Performance & Outlook Nicolas Tissot Chief Financial Officer#4GOOD THINGS. * 身邊人 CLP has joined the Government's Outreach Vaccination Programme to facilitate employees to get vaccinated against COVID-19 on company premises √苟你有份 CLP● 中電|120 years 同行望遠 of shared vision 外展疫用接種 CLP 中電 計劃 Outreach Vaccination Pilot Programme First Half Overview 齊齊慶兩針 健仁又放心。 Le t ImUNITY *齊打疫苗 Protect yourself and others Get Vaccinated 201924 CHICAG WHITE SOX 10 齊齊打兩針 健康又放心 Let's Get ImmUNITY I'm T Vaccinated 中 B#5Investing in the energy transition across our portfolio Progress on decarbonisation Safe and reliable operations and customer service Sustained investment to reduce carbon emissions Pursue growth with a focus on non-carbon investments in the Greater Bay Area New, flexible, clean energy projects to support the energy transition Low carbon investment along the electricity supply chain CLP●中電|120 years 同行望遠 of shared vision 5#6Lower Operating Earnings, dependable Dividend, reliable Operations Operating Earnings & Op. EPS HK$5,698 million 7.0% HK$2.26 per share Dividend & Yield 1st & 2nd interim dividend HK$0.63 Dividend yield (1) 4.0% Generation Customers Electricity sent out 44.9TWh 8.5% Reliability in Hong Kong (3) 0.97 0.29 In Operation (2) 24.2GW 0.7 Under Construction (2) 0.7GW 0.1 Customer Hong Kong 2.687m 37k Accounts Australia 2.435m 17k (1) CLP●中電|120 years 同行望遠 (2) of shared vision (3) Dividend Yield is calculated as dividend for the recent four quarters divided by closing share price on 30 June 2021 Equity basis plus long-term capacity and energy purchase arrangements. Includes battery discharge capacity Unplanned customer minutes lost - average of the past 36 months. Excluding Typhoon Mangkhut 9#7Commission of Laiwu III Wind Farm, Shandong, Mainland China, in September 2020 CLP 同行望遠 120 of shared vision 中電 Financial Performance & Outlook#8Financial Performance Highlights Revenue HK$40,729 million 5.2% EBITDAF (1) HK$12,953 million 1.6% ACOI (1) HK$8,379 million 2.8% Operating Earnings (1) Total Earnings Capital Investment (2) HK$5,698 million 7.0% HK$4,615 million HK$5,960 million 23.2% 3.3% 1 (1) EBITDAF, ACOI and Operating Earnings exclude items affecting comparability CLP●中電|120 years 同行望遠 of shared vision (2) On cash basis 88#9Hong Kong higher while Mainland China, Australia & one-offs lead earnings lower HK$M 1H2021 1H2020 Change Operating Earnings Hong Kong electricity and related activities 4,019 3,853 4.3% Mainland China 962 1,253 23.2% Australia India 837 1,194 29.9% 111 108 2.8% Southeast Asia and Taiwan 152 183 16.9% Other earnings and unallocated items (383) (462) 17.0% Operating Earnings 5,698 6,129 7.0% Items affecting comparability (1) (1,083) (119) Total Earnings 4,615 6,010 23.2% CLP●中電|120 years 同行望遠 of shared vision (1) Items affecting comparability in 1H2021 include the settlement of a litigation and provision for ensuring safe operation at the Yallourn coal mine following exceptional rainfall in Australia, together with the revaluation loss on investment property in Hong Kong. For details refer to slide 28 of this presentation pack 6#101H2021 1H2020 Hong Kong higher, thermal earnings lower in Mainland China and overseas HK$M Hong Kong electricity and related activities 5,877 5,603 Higher earnings and progress on decarbonisation Mainland China Australia India 1,250 996 1,533 Steady operations but high coal prices compress margins 1,284 Declining wholesale electricity prices drive earnings down 476 499 Southeast Asia and Taiwan 158 183 Major maintenance at Jhajjar more than offset higher renewables contribution Ho-Ping earnings reduced on lower energy tariff Other earnings and unallocated items (378) ACOI 8,379 8,622 (480) Largely driven by the net fair value gains on Innovation investments 2.8% decrease (6.7% decrease excluding FX) HK$m 10,000 8,622 361 266 102 8,379 8,000 (398) 6.7% excl. FX (506) (29) (39) 6,000 4,000 2,000 0 1H2020 FX (2,000) Hong Kong Mainland China Australia India SEA & Taiwan Unallocated and others 1H2021 SEA & Taiwan India Australia Mainland China I Hong Kong Other earnings & unallocated items CLP●中電|120 years 同行望遠 of shared vision 10 10#11Hong Kong: Higher earnings and progress on decarbonisation 8,000 5,603 6,000 ACOI (HK$m) 4,000 2,000 1H2020 8 FX 256 Return on higher fixed assets 10 5,877 4.7% excl. FX Others 1H2021 Performance Outlook • ACOI: Up 4.7% reflecting increased investment in fixed assets Capex: HK$4.8 bn: T&D HK$2.1 bn; Generation HK$2.7 bn ⚫ Local Sales up 4.4%: Higher sales to all sectors Decarbonisation: 1st CCGT (D1) on-line, D2 construction commenced, Offshore LNG Terminal progressed ⚫ Smart City: Milestones include >1 million smart meters & >100MW of feed-in tariff projects connected Progress major project investments under the current 5-year Development Plan for 2018-2023 ⚫ Accelerate transformation: Digitalisation, renewable energy, energy efficiency & conservation initiatives Maintain highly reliable power supply, and support our customers, communities and employees Continue to engage with Government on plans to decarbonise the electricity sector by 2050, leveraging on closer integration with the Greater Bay Area CLP●中電|120 years 同行望遠 of shared vision 11 14#12Mainland China: Steady operations but high coal prices compress margins 2,000 115 37 1,533 1,500 (67) 1,250 24.2% ACOI 1,000 (352) (16) excl. FX 522 (HK$m) 500 0 (500) 1H2020 FX Nuclear Renewables Thermal Others Renewables 945 Nuclear Thermal (121) Others (96) 1H2021 Performance ACOI down 24.2%: Higher nuclear & wind partially offset lower thermal and hydro Nuclear: >70% of Mainland China earnings. Higher YJ generation offset by DB planned refuelling outage Renewables: Lower hydro partially offset by new earnings from Laiwu III Wind and solar steady Thermal: Lower due to higher coal costs and higher costs as Shandong assets approach their end of life Continuing delay in payment of national subsidies for renewables impacting cash flow Outlook Develop energy infrastructure initiatives and energy-as-a-service opportunities in the Greater Bay Area Market competition anticipated to continue with increased pressure on margins on thermal Actively participate in the evolution of market regulations and carbon trading Pursue opportunities resulting from carbon neutral targets of Hong Kong and Mainland China as Hong Kong and the Greater Bay Area integration accelerates CLP++ 120 years 同行望遠 of shared vision 12#13Australia: Declining wholesale electricity prices drive earnings down 2,500 649 2,000 218 ACOI 1,500 1,284 (HK$m) 1,000 500 0 1H2020 FX Customer 295 Enterprise (867) 33.7% excl. FX 12 996 Energy (1,167) 1,568 Performance Outlook Customer Energy Enterprise 1H2021 ⚫ ACOI: 33.7% down after FX as Energy segment declines, partially offset by Customer cost improvements Customer: Lower energy procurement & hedging costs and lower bad debt. Slight reduction in customer accounts. Continuing emphasis on operational efficiency and cost reductions Energy: Margins declined as anticipated on lower wholesale prices and higher gas supply costs. Accelerated depreciation on Yallourn early closure & restriction in operations after extreme rainfall also impacted ACOI Progress assessment of Morwell River Diversion to ensure safe operation at the Yallourn coal mine following exceptional rainfall • Continued pressure on wholesale margins from lower forward prices and high gas supply costs Longer term: Continuing emphasis on service excellence and progressing towards a lower emission portfolio including Wooreen Battery, Tallawarra B, Kidston pumped hydro storage and customer-based distributed resources, and planning for the early closure of Yallourn CLP 中電 120 years 同行望遠 of shared vision 13#14India: Major maintenance at Jhajjar more than offset higher renewables contribution 600 499 500 ACOI 400 (HK$m) 300 200 100 0 1H2020 Performance 6 FX 9 17 476 5.7% (55) excl. FX 318 Renewables New Solar projects Thermal Renewables 13 Transmission Thermal 145 1H2021 Wind: Higher wind generation & interest received on delayed payment from renewable debtors in 1H2021 • Solar: Full 6-month contribution from two new solar projects totalling 48MW • Thermal: Lower capacity tariff & higher O&M costs at Jhajjar due to major planned maintenance Transmission: Reliable operation with stable earnings Outlook Renewable receivables: Continue to pursue outstanding receivables New projects: Progress Sidhpur wind farm construction & acquire inter-state transmission asset ⚫ Continue investments in non-carbon assets along the electricity supply chain CLP●中電|120 years 同行望遠 of shared vision 14#15SEA & Taiwan: Ho-Ping earnings reduced on lower energy tariff 250 5 14 200 183 ACOI 150 (HK$m) 100 50 0 (50) 1H2020 FX Renewables 19.8% 14 158 excl. FX (58) 127 39 (8) Thermal Others 1H2021 Thermal Renewables Others Performance Outlook • Renewables: Stable earnings with steady solar resource Thermal: Lower earnings from Ho-Ping reflecting lower energy tariff & lower generation Others: Lower development expenditure Thermal: Margins for the balance of 2021 under pressure as coal prices continue to rise Lopburi Solar: Reduction in contribution from late 2021 following tariff reduction under the PPA Renewables: Explore opportunities in the region CLP●中電|120 years 同行望遠 of shared vision 15#16Sound Cash Flow Generation HK$bn 12.0 Cash Inflows and Outflows 9.0 6.0 3.0 10.0 Growth capex 0.5 6.4 SoC capex 4.9 Free cash flow 6.4 1H2021 Dividends paid 4.6 Cash flow generation similar to 1H2020, following the normal yearly profile Dividend paid at HK$4.6 bn Total capital investment of HK$5.4 bn HK$4.9 bn SoC capex for network improvement and decarbonisation in Hong Kong HK$0.5 bn growth capex for development and upgrade of generation assets in Australia, and construction of wind projects in Mainland China and India CLP●中電|120 years 同行望遠 of shared vision 16#17Strong financial position Net Debt Credit Ratings S&P Moody's HK$47.9 billion CLP Holdings A Stable A2 Stable Net Debt/Total Capital CLP Power HK A+ Stable A1 • Stable 27.4% CAPCO AA- Stable A1 Stable Debt Maturity Within 1 1-2 years 14% year 18% 2-5 years 18% Debt Composition Floating rate Beyond 5 36% Fixed years 50% rate CLP●中電| 120 years 同行望遠 of shared vision 64% Strong financial position • Healthy level of net debt and net debt/total capital ratio Credit ratings reaffirmed in May and June Undrawn debt facilities of HK$29.3bn Bank balances of HK$8.6bn Net debt increased HK$5.3bn to HK$47.9bn in line with usual seasonal trend Successful financing initiatives with CAPCO's US$300m Energy Transition Bond and CLP Power Hong Kong's US$300m bond Geographical regions are self-funding non-recourse to CLP Holdings - All foreign currency bonds swapped into Hong Kong dollars, longer tenure and higher proportion of fixed rate borrowings mitigate foreign exchange and interest rate risks 17#18Corporate Video - A Clear Blue Sky: You and I. Together, we can help Hong Kong towards its goal of carbon neutrality by 2050, creating clearer bluer skies CLP 中電 120. years 同行望遠 of shared vision Strategy#19Accelerating the decarbonisation journey in Hong Kong Simulated D2 Simulated D1 Towards Carbon Neutral by 2050 Solar Feed-in Tariff Construction of D1 & D2 CCGTS Offshore Wind New Transmission Clean Energy Transmission System Green Energy Green Zero-Carbon Hydrogen Imports Simulated photo Construction of the Offshore LNG terminal CLP 中電 120 years 同行望遠 of shared vision Potential Offshore Wind Farm 19#20Leveraging Hong Kong capabilities and connecting with the Greater Bay Area บอก 00 Potential Offshore Clean Energy Wind Farm Transmission System Low carbon Energy District Cooling Data Centres LNG Bunkering in HK 创业邦 CY ZONE Smart energy technologies 南网能创基金 CLP joins CSG Energy Innovation Equity Investment Fund in GBA 启迪控股 TUSHOLDINGS Clean energy and smart city technology generation Infrastructure Investments & Energy as a Partnerships Service Corporate PPA Distributed Energy E-Transportation Integrated Smart Incremental Energy Management Home Concierge in HK Distribution Network CLP●中電 | 120 years 同行望遠 of shared vision 20#21Developing decarbonisation solutions for customers CLP 中電 120 years 同行望遠 of shared vision Decarbonise Energy Sources Improve Energy Efficiency Electrification Offset Carbon Emissions Smanage Carbon Credit Certificate 21#22Investing in the Energy Transition across our Operations Mainland China India Mahidad wind farm, Gujarat, India Qian'an III (100MW) wind project with 5MW battery storage, Jilin, Mainland China Australia Sidhpur (252MW) wind project in Gujarat, India Australia Battery Storage at Ballarat, Victoria, Australia Committed Wooreen (Jeeralang) 350MW four-hour battery, Victoria, Australia CLP●中電|120 years 同行望遠 of shared vision Tallawarra plant, NSW, Australia Tallawarra B open cycle gas/hydrogen fired power plant 316MW, NSW, Australia 22 22#23CP+ Building the Utility of the Future Offset Your Carbon Emissions 288888 Innovation for Sustainable Busk ad Smargy Conne CLP4 Digitalisation New Business Models Customer Centricity Decarbonisation CLP●中電|120 Workforce Transformation years 同行望遠 of shared vision 23#24Questions and Answers Installation of solar panel system by CLPe Solutions at campus of the English Schools Foundation (ESF), smart meter installation and the purchase of CLP Renewable Energy Certificates by Rosewood Hong Kong (clockwise from left) CLP ● 中電120. years 同行望遠 of shared vision Το 1 COAST CLPG 中電 468027 ROSEWOOD CONG KONG RENEWABLE ENERGY COLLABORATION TAKE A NEW STAND FOR GNER TOMORS LEED#25Appendices A new CLP E-Playground in Tai Po offers a new dimension in learning for young people curious about the electricity that powers their daily lives CLP 中電 120 years 同行望遠 of shared vision 222#26CLP Group - Financial Highlights 1H2021 1H2020 Change Operating earnings (HK$M) 5,698 6,129 -7.0% Total earnings (HK$M) 4,615 6,010 -23.2% Operating earnings per share (HK$) 2.26 2.43 -7.0% Total earnings per share (HK$) 1.83 2.38 -23.2% Dividends per share (HK$) First interim dividend Second interim dividend 0.63 0.63 0.63 0.63 Total interim dividends 1.26 1.26 Capex (HK$M) - Cash basis SoC Capex Other Capex Revenue (HK$M) Leverage Net Debt (HK$M) Net Debt/Total Capital (%) 4,861 4,722 +2.9% 1,099 1,047 +5.0% 40,729 38,701 +5.2% 30 Jun 2021 31 Dec 2020 47,912 27.4% 42,640 +12.4% 25.1% +2.3% 26#27CLP Group - Operating Highlights 1H2021 1H2020 Change Safety (Total Recordable Injury Rate) (1) 0.20 0.25 (1) -0.05 Electricity sent out (TWh) (2) 44.9 41.4 +8.5% Generation and Storage Capacity (GW) (2) Total in Operation 24.2 23.5 +0.7 Non-Carbon Emitting (3) 6.0 6.0 0.7 0.6 +0.1 Committed/Under Construction Customer Accounts (Thousand) Hong Kong Australia 2,687 2,650 +37 2,435 2,452 (4) -17 Hong Kong local electricity sales (TWh) 16.4 15.7 +0.7 Reliability in Hong Kong (minutes lost pa) (5) Excluding Typhoon Mangkhut Including Typhoon Mangkhut 0.97 9.74 1.26 10.03 -0.29 -0.29 (1) 2020 Figures were revised to reflect the reclassification of two cases & minor adjustments to the number of hours worked. From 2021, the figures are for work-related injury only. CLP●中電|120 years 同行望遠 (2) of shared vision (3) Equity basis plus long-term capacity and energy purchase arrangements. Includes battery discharge capacity Non-carbon emitting includes wind, hydro, solar and nuclear (4) Prior year adjustments (5) Unplanned customer minutes lost - average of the past 36 months 27#28Earnings for Hong Kong and Items affecting comparability HK$M Local electricity business PSDC and Hong Kong Branch Line Hong Kong electricity and related activities HK$M Australia Litigation Settlement Australia - Provision for Morwell River Diversion solution Hong Kong - Revaluation loss on investment property Items affecting comparability Australia Litigation Settlement 1H2021 1H2020 3,885 3,751 134 102 4,019 3,853 1H2021 1H2020 (777) (265) (41) (119) (1,083) (119) Litigation Settlement. For further details see page 25 of the Hong Kong Stock Exchange Announcement "CLP Holdings Limited 2021 Interim Results Announcement" which can be found here Australia • • Provision for Morwell River Diversion solution Provision for ensuring safe operation at the Yallourn coal mine following exceptional rainfall for EnergyAustralia. Further information see page 25 of the Hong Kong Stock Exchange Announcement "CLP Holdings Limited 2021 Interim Results Announcement" which can be found here Hong Kong Revaluation loss on investment property Retail portion of the Laguna Mall in Hong Kong CLP●中電|120 years 同行望遠 of shared vision 28#29Reconciliation of Operating Earnings to ACOI HK$M 1H2021 1H2020 Change Operating Earnings 5,698 6,129 7.0% (Attributable to CLP) Exclude: Fair value 264 397 adjustments Net finance costs (1) (925) (880) Income tax expense (1,571) (1,576) Non-controlling (449) (434) interests ACOI 8,379 8,622 2.8% (1) Included the distribution to perpetual capital securities holders Adjusted Current Operating Income or ACOI ACOI equals EBIT excluding items affecting comparability and fair value adjustments, and includes the Group's share in net earnings from joint ventures and associates Fair value adjustments Predominantly favourable movement as a result of EnergyAustralia's energy derivative contracts impacted by lower forward electricity prices in both periods Net finance costs (1) Moderate increase in net finance cost mainly attributable to higher average debt level partly offset by lower average interest rates Income tax expense Higher tax from higher earnings from Hong Kong, mostly offset by lower tax from lower earnings from Australia Non-controlling interests CSG's 30% share of CAPCO CLP ● 中電 120 years 同行望遠 of shared vision CDPQ's 40% share of CLP India 29#30CLP Group - Reconciliation of Operating Earnings and ACOI HK$M 1H2021 Hong Kong electricity Mainland China Australia and related India SEA & Taiwan Other earnings & unallocated items Group total Operating Earnings 3,905 1,096 837 111 152 (403) 5,698 (as per Segment Information in Annual Report) Reallocation of PSDC & HK Branch Line 134 (134) Reallocation of Other earnings (20) 20 Operating Earnings 4,019 962 837 111 152 (383) 5,698 (as per Management Reporting in this presentation pack) Add back Non-controlling interests Net finance costs * Income tax expense Fair value adjustments # ACOI 1H2020 Operating Earnings 371 2 76 449 530 127 63 201 4 925 950 159 367 88 6 1 1,571 7 (271) (264) 5,877 1,250 996 476 158 (378) 8,379 3,639 1,355 1,194 108 183 (350) 6,129 (as per Segment Information in Annual Report) Reallocation of PSDC & HK Branch Line 102 (102) Reallocation of Other earnings 112 (112) Operating Earnings 3,853 1,253 1,194 108 183 (462) 6,129 (as per Management Reporting in this presentation pack) Add back Non-controlling interests Net finance costs/(income) Income tax expense Fair value adjustments ACOI * 355 5 74 523 119 32 227 857 156 470 90 15 5,603 1,533 (412) 1,284 499 183 434 (21) 880 3 1,576 (397) (480) 8,622 * Including net fair value loss/(gain) on debt related derivative financial instruments, and other net exchange loss/(gain) on financing activities and distribution to perpetual capital securities holders CLP●中電|120 years 同行望遠 of shared vision # Including net fair value loss/(gain) on non-debt derivative financial instruments relating to transactions not qualifying as hedges and ineffectiveness of cash flow hedges 30#31CLP Group - Cash Flow and Financial Structure HK$M Cash Flow EBITDAF Less: Items affecting comparability Recurring EBITDAF 1H2021 1H2020 Cash Flow 11,423 12,628 1,530 119 12,953 12,747 Less: Movement in SoC items (3) (432) Less: Movement in working capital & others (4,501) (3,963) Funds from operations 8,449 Less: Tax paid (1,902) 8,352 (1,858) Less: Net finance costs paid (948) (1,003) Less: Maintenance capex (567) (465) Add: Dividends from joint ventures & an associate 1,413 1,265 Free Cash Flow 6,445 6,291 (1) Capital Investments (2) • SoC capex Higher free cash flow mainly reflected improved SoC inflows on higher sales and favourable working capital movements offset by higher maintenance capex in Australia Capital Investments HK$4.9 billion SoC capex related to enhancement of transmission and distribution networks and generation facilities including construction of CCGT units and Offshore LNG Terminal Growth capex mainly included our investments in renewable projects in Mainland China and India, as well as commencement of construction works for Tallawarra B and turbine upgrade at Mount Piper in Australia Maintenance capex mainly works at Yallourn and Ecogen in Australia Other capex mainly related to intangible additions in Australia offset by capital repayment after divestment of two minority-owned wind projects in China Capital investments include fixed assets, right-of-use assets, investment property, intangible assets, investments in and advances to joint ventures and associates, and acquisition of business/asset Capital expenditure on fixed assets and right-of-use assets are analysed into • • SoC capex capital expenditure related to the SoC business - Growth capex - capital expenditure for additional generation capacity Maintenance capex - capital expenditure other than the above (3) Capital investments on intangibles assets and investments in and loans to joint 4,861 4,722 Maintenance capex • Growth capex (2) (1) 567 465 (2) 483 248 ⚫ Others (3) (2) 49 126 • Acquisitions of businesses 208 Total (including Maintenance capex) 5,960 5,769 Total (excluding Maintenance capex) 5,393 5,304 Dividend paid 4,649 4,598 ventures and associates 31#32CLP Group - Dividend (1 3.5 3.0 2.5 25 2.0 1.5 1.0 0.5 History CLP Dividend 1990 – 1H2021 CLP's Dividend Policy aims to provide reliable and consistent ordinary dividend with steady growth when supported by our earnings while ensuring that a solid financial position can be maintained to fund our business growth. In line with our established practice, our ordinary dividends are paid four times a year in each of the quarters. 2000 2001 2002 2003 2004 2005 ■Final/ Q4 Special (2) (1) Dividend adjusted for one bonus share issued for every five existing shares in 1993 and 2001 (2) Special dividends mainly relate to major property development and one additional interim dividend due to change of accounting year in 1999 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 0.54 0.55 0.57 0.59 0.61 0.63 0.63 0.63 0.54 0.55 0.57 0.59 0.61 0.63 0.63 0.54 0.55 0.57 0.59 0.61 0.63 0.63 0.63 1.00 1.05 1.09 1.141.19 1.191.21 3.08 3.10 3.02 2.91 2.80 2.70 2.62 2020 2021 1990 ■Q1 1991 1992 Q2 1993 1994 Q3 1995 1996 CLP ● 中電120 years 同行望遠 of shared vision 1997 1998 1999 32 32#33CLP Group - Financial Obligations at a Glance HK$M HONG KONG Total borrowings of CLPP, CAPCO & PSDC 30 Jun 2021 31 Dec 2020 Minus: Bank balances and liquid funds Net Debt - Hong Kong 45,860 43,449 (4,633) (6,598) 41,227 36,851 OUTSIDE HONG KONG Total borrowings of India and Mainland China subsidiaries (non-recourse to CLPH) 10,630 10,899 Minus: Bank balance and liquid funds (3,945) (5,110) Net debt Outside Hong Kong 6,685 5,789 CONSOLIDATED total borrowings 56,490 54,348 Minus: Consolidated bank balance and liquid funds (8,578) (11,708) Consolidated Net debt Total Debt/Total Capital Net Debt/Total Capital 47,912 42,640 30.8% 30.0% 27.4% 25.1% CLP●中電|120 Increase in the Group's net debt to total capital was mainly due to higher net debt to finance capital expenditure for business growth years 同行望遠 of shared vision 33#34CLP Group - Credit Ratings CLP Holdings Long-term Rating Foreign Currency Outlook Local Currency Outlook Short-term Rating Foreign Currency Local Currency CLP Power CAPCO S&P Moody's S&P Moody's S&P Moody's EnergyAustralia S&P A A2 Stable Stable A+ Stable Stable A1 AA- A1 BBB+ Stable Stable Stable A A2 A+ A1 AA- A1 BBB+ Stable Stable Stable Stable Stable Stable Stable A-1 P-1 A-1 P-1 A-1+ P-1 A-1 P-1 A-1 P-1 A-1+ P-1 In May and June 2021, S&P and Moody's affirmed the credit ratings of CLP Holdings, CLP Power Hong Kong and CAPCO with stable outlooks. CLP 中電 12 years 同行望遠 of shared vision 34#35CLP Group - Highlights of Financing Activities CLP Holdings: Ample liquidity in the Group at 30 June 2021 Undrawn facilities HK$29.3 billion, bank balances HK$8.6 billion. Scheme of Control - Climate Action Financing: Successful financing for CCGT D2 project • For more information on CLP Climate Action Finance Framework CAPCO issued a US$300 million (HK$2.3 billion) 10-year, 2.125% energy transition bond in February. The bond carried a 0.875% credit spread over 10-year US Treasury Notes. The spread was the narrowest of all 10-year bonds previously offered by the CLP Group and reportedly the tightest among all non-public sector debt offerings by corporations in Hong Kong. The Energy Transition Bond was more than 4.6 times over-subscribed with over US$1.4 billion in orders from investors globally. CAPCO executed HK$5.3 billion one- and three-year energy transition revolving loan agreements with four banks at attractive interest rates. Scheme of Control - Cost effective financing arrangements CLP Power Hong Kong issued a US$300 million (HK$2.3 billion) 10-year, 2.25% bond in July. The bond was competitively priced at 0.9% credit spread over 10-year US Treasury Notes at the time of issuance. This offering was more than 1.6 times over-subscribed with over US$500 million in orders from investors globally. Issued a A$24 million (HK$144 million) 15-year private bond at a 2.99% coupon rate. Mainland China: Continued financing at competitive terms Arranged a RMB300 million (HK$360 million) two-year offshore revolving bank loan facility and a RMB587 million (HK$705 million) 15-year onshore non-recourse project loan facility at competitive terms. EnergyAustralia: Successful refinancing and healthy liquidity position Extended the maturity dates of a A$300 million (HK$1.7 billion) working capital facility by three years to June 2024 and a A$400 million (HK$2.3 billion) bank guarantee and reimbursement facility by three years to March 2024 at competitive terms. Maintained a bank balance equivalent to HK$1.8 billion with a zero debt balance at the end of June 2021. India: Supporting business portfolio expansion Arranged Rs12.9 billion (HK$1.3 billion) of bank facilities, mainly to support development of renewable energy projects, at competitive interest rates. Remark: The proceeds of all foreign currency bonds issued so far this year in Scheme of Control business were fully swapped into Hong Kong dollars at favourable fixed rates to fully mitigate foreign exchange and interest rate risks. 55 35#36CLP Group - Loan Balances by Type and Maturity HK$M 60,000 Loan Balance - Type Loan Balance - Maturity (1) HK$M 60,000 Proportion of debt on fixed and floating rate 2% 2% 50,000 22% 18% 24% 50,000 16% 11% 14% 40,000 40,000 Jun 2021 23% 18% 30,000 30,000 37% 63% 36% 64% 69% 20,000 68% 20,000 Dec 2020 50% 50% 10,000 10,000 6% 7% 0 0 Dec 2020 Jun 2021 Dec 2020 Export Credit Loan Term Loans ■Medium Term Notes / Private Placement / Bonds Money Market Line Within 1 year 2-5 years Jun 2021 1-2 years Beyond 5 years Floating rate (2) Fixed rate 1) The maturity of revolving loans is in accordance with the maturity dates of the respective facilities instead of the current loan drawdown tenors 2) For floating rate borrowings, if assuming 1% increase in interest rate and based on outstanding debt balance as at 30 June 2021, the additional interest payment is around HK$205 million per annum 3) CLP continues to obtain debt (re)financing at very cost effective interest rates. Some representative examples in 1H2021 are highlighted on slide 35 of this presentation pack ("CLP Group - Highlights of Financing Activities") CLP 中電 120 years 同行望遠 of shared vision 36#37Hong Kong - Growing Business Scale Generation 10,420 MW generation portfolio Transmission > 16,300 km of transmission and high voltage distribution lines During 1H2021: Distribution 236 primary and > 15,100 secondary substations Retail 16,421 GWh sold and 2.69 million customer accounts Guangzhou Pumped Storage Power Station at Conghua Local electricity sales increased 4.4% to 16,421GWh as compared with 1H2020 No. of customer accounts increased by 37k to 2,687k as compared with 1H2020 Major infrastructure projects ongoing A new 550MW gas-fired generation unit at Black Point Power Station was commissioned in 2020 Construction of a second CCGT unit at Black Point continued to make good progress. Early civil works are progressing well and engineering, procurement and construction contracting is under way The seventh unit of gas turbine upgrade project at Black Point Power Station completed with 25MW generation capacity added (175MW added in total) Over 50 km of new transmission and high voltage distribution lines & 70 new substations added We generate, transmit and distribute electricity to over 80% of Hong Kong's population in Kowloon, the New Territories and on Lantau Island CLP 中電 120 years 同行望遠 of shared vision Shekou Black Point, Power Station Castle Peak Power Station V Shenzhen Shenzhen China YSS New Territories stem Control Center Penny's Bay Power Station Airport Lantau Island You Ma 400KS Kowloon Hong Kong Island Daya Bay Nuclear Power Station Main Transmission Network (1H2021) Π CLP Supply Area Power Station 400kV Substation 132kV Substation System Control Centre 400kV Circuit 132kV Circuit 132kV Submarine Cable 37#38– Hong Kong - Electricity Sales and Capex Electricity Sales Capital Expenditure (Accrual basis) GWh 1H2021 1H2020 Change HK$M 1H2021 1H2020 Change Residential 4,561 4,361 4.6% CLP Power Hong Kong 2,080 1,854 12.2% Commercial 6,383 6,195 3.0% CAPCO * 2,712 2,318 17.0% Infrastructure & Public Services 4,666 4,396 6.1% Total Capex 4,792 4,172 14.9% Manufacturing 811 777 4.4% Including CAPCO's 70% share of fixed asset additions in Hong Kong LNG Terminal Limited HK$m Total Local Sales 16,421 Sales Mix 5% 5% 28% 28% 28% 28% 39% 39% CLPⓇ中電 120 years 同行望遠 of shared vision 15,729 4.4% Note: Data centres represent 5% of load in 1H2021 10,000 8,000 6,000 4,000 2,000 2014 2015 2016 2017 2018 2019 2020 1H2021 Residential Total of CLP 6,983 6,887 6,603 7,004 7,569 7,743 7,576 3,978 Commercial CAPCO JV partner 817 743 689 1,064 1,353 1,354 1,306 814 CAPCO - CLP's share 1H2021 Infra & Public Services 1,368 1,735 1,607 2,481 3,158 3,159 3,048 1,898 CLP Power 5,615 5,152 4,996 4,523 4,411 4,584 4,528 2,080 Manufacturing 1H2020 Total Capital Expenditure in line with Development Plan (DP) Capex incurred in 2018 DP from Oct 2018 to Jun 2021: HK$25.4bn Capex approved under the 2018 DP from Oct 2018 to Dec 2023: HK$52.9bn 38#39Hong Kong - Tariff, Reliability, Environmental and Carbon Intensity HK$/kWh 3.0 Low Tariff Unplanned customer High Reliability minutes lost per year 30 2.5 2.0 + 1.5 1.0 0.5 0.0 CLP Power Remarks: Change 100% 50% 0% Singapore London Sydney New York Comparison based on average monthly domestic consumption of 275kWh Tariff and exchange rate in Jan 2021 20 18 19 15 10 中 1.7 0.9 0 CLP Power Singapore London Sydney (CBD) New York More Reliable Less Reliable Remarks: (1) 2018-2020 average for CLP Power was 0.9 minutes excluding Super Typhoon Mangkhut impact (9.8 minutes including). 2017-2019 average for all other cities except for New York (2016-2018) Carbon Emission Intensity Environmental Improvement 0.6 +80% in Electricity Sales Over 90% in Emissions kg CO₂e/kWh 0.4 0.50 0.2 -26% 0.37 -50% 0.0 2020 -100% 1990 1995 2000 2005 2010 2015 2020 2019 Sulphur Dioxide (SO2) CLP●中電| 120 years 同行望遠 Respirable Suspended Particulates (RSP) of shared vision Nitrogen Oxide (NOx) 39#40Mainland China - Financials (HK$) HK$M Operating/Total Earnings ACOI 1H2021 1H2020 1H2021 1H2020 Renewables 320 341 522 538 - Wind 231 217 322 298 - Hydro (18) 27 19 74 - Solar 107 97 181 166 Nuclear 869 804 945 870 - Daya Bay 425 469 447 494 - Yangjiang 444 335 498 376 Thermal (129) 196 (121) 211 - Shandong (200) (14) (200) (12) - Guohua (54) 6 (54) 7 - Fangchenggang 125 204 133 216 Operating & development expenditure (98) (88) (96) (86) Operating earnings /ACOI 962 1,253 1,250 1,533 Mainland China Total earnings 962 1,253 CLP 中電 120 years 同行望遠 of shared vision The average foreign exchange rates used to convert Mainland China Segment earnings to Hong Kong dollars are 1.09746 for 1H2020 and 1.19963 for 1H2021. Note that in the ACOI variance analysis presented in the body of the presentation 1H2020 earnings are adjusted for changes in foreign exchange before year on year variance in underlying performance is illustrated. 40 40#41Mainland China - Financials (Local Currency) RMB'M Operating/Total Earnings ACOI 1H2021 1H2020 1H2021 1H2020 Renewables - Wind 267 311 435 490 193 198 268 272 - Hydro (15) 25 16 67 - Solar 89 88 151 151 Nuclear 724 732 788 793 - Daya Bay 354 427 373 450 - Yangjiang 370 305 415 343 Thermal (107) 179 (101) 192 - Shandong (166) (13) (167) (11) - Guohua (45) 6 (45) 6 - Fangchenggang 104 186 111 197 Operating & development (82) (80) (85) (78) expenditure Mainland China CLP 中電 120 of shared vision Operating earnings /ACOI 802 1,142 1,037 1,397 Total earnings 802 1,142 years 同行望遠 41#42Mainland China - Performance and Capacity Earnings and performance MW • Higher earnings from Yangjiang were mainly due to higher 10,000 generation, while lower earnings from Daya Bay were mainly due to planned refuelling outage in March and April 2021 8,000 CLP capacity (1) in Mainland China • . Lower earnings from renewables mainly due to lower hydro 6,000 resource and loss on divestment of its minority-owned 24.5% 4,000 interest in the aging Mazongshan and Qujiagou wind farms in the Liaoning province in March 2021, partially offset by the 2,000 contribution from Laiwu III Wind commissioned in September 2020 Earnings from Fangchenggang remained positive, benefitting from higher demand as well as rewards for active participation in market sales and final settlement of excess generation. This is offset by higher coal costs due to ongoing government measures to control local production Total receivables relating to the unpaid renewables national subsidy from our subsidiaries increased to HK$2,189 million (Dec 2020: HK$1,774 million). Consistent with the experience in past few years we expect higher settlements in the 4th quarter End of co-operation period of minority owned Shiheng coal (370 equity MW, part of our Shandong assets) by end of 2021 when the asset will be transferred to the majority shareholder CLP ● 中電120 years 同行望遠 of shared vision 0 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Jun-21 Thermal Nuclear Renewable PSDC Under construction (1) Equity basis plus long-term capacity and energy purchase arrangements Business development opportunities • • • • CLP's first grid-parity windfarm in China, Qian'an III Wind (100MW with 5MW battery storage system) in Jilin commenced site construction in March 2021, target for full commissioning by 1H2022 Fangchenggang Incremental Distribution Network (through TUS-CLP joint venture) began electricity supply to customers and is building customer base steadily as well as broadening its range of services In June, CLP secured a contract to upgrade the centralised cooling system at Po Park Shopping Plaza in Guangzhou, and to operate cooling services until 2036. It is the first integrated cooling system provisioning and services project for CLP in the Greater Bay Area Actively explore smart energy projects (centralised cooling, data centre, EV charging) in line with our strategy in the Greater Bay Area 42#43Mainland China - Market Sales in 1H2021 GANSU INNER MONGOLIA LIAONING HEBED TIANJIN Province Guangxi Yunnan Inner Mongolia Sichuan Gansu Projects with Market Sales (Equity MW) FCG Thermal (1,806MW) Xundian Wind (50MW) Xicun Solar (84MW) Dali Yang_er Hydro (50MW) Zhungeer Thermal (257MW) SICHUAN SHAANX Jiangbian Hydro (330MW) Jinchang Solar (85MW) SHANDONG Liaoning Suizhong Thermal (564MW) JIANGSU Lingyuan Solar (17MW) Hebei Sanhe Thermal (220MW) SHANGHAI Tianjin Panshan Thermal (207MW) Jilin Qian'an Wind (99MW) >90-100% market sales GUIZHOU >50-90% market sales YUNNAN >20-50% market sales No market sales GUANGXI GUANGDONG Market sales are prevailing in various forms in different provinces in Mainland China. Overall around 56% of our share of generation volumes were under market sales in 1H2021 (1H2020: 49%). Directionally market sales in Mainland China will continue to increase. CLP 中電 Note: Daya Bay Nuclear not included 120 years 同行望遠 of shared vision Shandong Changling II Wind (22MW) Datong Wind (24MW) Shuangliao Wind (48MW) Penglai Wind (48MW) CLP Laizhou Wind (99MW) Laiwu Wind (149MW) Shiheng Thermal (370MW) Weihai Wind (31MW) Laizhou Wind (18MW) Guohua Wind (194MW) in the calculation of market sales ratio Guangdong Yangjiang Nuclear (1,108MW) 43#44Australia - Financials Ting Goe Australia 4 CLP 中電 120 years 同行望遠 of shared vision HK$m Local Currency (A$m) 1H2021 1H2020 1H2021 1H2020 EBITDAF (before items affecting 2,127 2,267 363 444 comparability) Depreciation & Amortisation (1,131) (983) (189) (192) ACOI Customer (Retail) 295 (303) 49 (59) Energy (Wholesale) 1,568 2,338 270 458 Enterprise (Corporate) (867) (751) (145) (147) Total 996 1,284 174 252 Fair value adjustments (1) 271 412 45 81 Net finance costs (63) (32) (11) (6) Income tax expense (367) (470) (63) (92) Operating Earnings 837 1,194 145 235 Litigation Settlement (2) (777) (130) Provision for Morwell River Diversion solution (3) (265) (46) Total earnings (205) 1,194 (31) 235 (1) Fair value adjustments have been mainly driven by falling forward prices which favourably impact derivative contracts in both periods. (2) Litigation Settlement. For further details see page 25 of the Hong Kong Stock Exchange Announcement "CLP Holdings Limited 2021 Interim Results Announcement" which can be found here (3) Provision for ensuring safe operation at the Yallourn coal mine following exceptional rainfall. For further details see page 25 of the Hong Kong Stock Exchange Announcement "CLP Holdings Limited 2021 Interim Results Announcement" which can be found here The average foreign exchange rates used to convert Australian Segment earnings to Hong Kong dollars are 5.1068 for 1H2020 and 5.9721 for 1H2021. Note that in the ACOI variance analysis presented in the body of the presentation 1H2020 earnings are adjusted for changes in foreign exchange before year on year variance in underlying performance is illustrated. 44#45Australia - Customer Operations Customer Account Numbers (000s) Mass Market 1H2021 (2) 1H2020 Electricity 1,583.0 Gas 843.9 Commercial & Industrial 7.7 0.2 Total 2,426.9 7.9 Electricity 1,599.2 Gas 842.8 Total 2,442.0 9.7 0.3 9.9 Total Account Numbers 1,590.7 844.1 2,434.8 1,608.9 843.1 2,451.9 Weighted Average Mass Market (1) 1,585.5 844.2 2,429.7 1,605.0 844.2 2,449.2 1H2021 1H2020 Sales Volume & Revenue Electricity (TWh) Gas (PJ) Electricity (TWh) Gas (PJ) Mass Market 4.4 15.2 4.9 14.6 Commercial & Industrial 3.7 2.1 4.0 5.0 Total Sales Volume Sales Revenue (A$m) Customer Churn 8.1 17.3 9.0 19.6 1,747.2 422.9 2,005.9 452.1 Customer Customer Churn and Accounts Rest of Market Chum 1H2020 30% EA Churn 1H2020 ■Rest of Market Churn 1H2021 ■EA Churn 1H2021 Accounts (million) 3.0 20% 10% 0% • Account Numbers VIC CLP 中電 120 NSW years 同行望遠 (1) of shared vision (2) SA QLD Total 2.0 1.0 Mass Market Customer accounts have been reasonably stable and fallen 0.6%, with losses of 15,100. ■ Churn rates remain broadly flat compared to 1H2020, however there has been an increase in move home churn offset by a similar decrease in change of retailer churn. 0.0 Weighted Average Mass Market is the average accounts of our mass market customer base during the period Prior year adjustments Note: All numbers are rounded to the nearest appropriate digit. Some totals may not add down the page due to rounding of individual components 45#46Australia - Customer Operations Supporting customers experiencing hardship - 20.6k customers utilising EnergyAssist programme m 15 Ombudsman complaints/ ● 10k accounts • 76% reduction since 1H2015 19% reduction since 1H2020 Go Neutral, Largest certified carbon neutral programme for electricity customers 293.3k Go Neutral electricity customers, 16% increase on 1H2020 78.3k Go Neutral gas customers, 89% increase on 1H2020 CLP●中電|120 years 同行望遠 of shared vision 59% of bills issued in 1H2021 were E-bills • Compared with 1% in 1H2015 • Improving 6pts since 1H2020 28.6pts improvement in customer satisfaction since 2015 3.0pts improvement on 1H2020 Behind the meter supply • • 93.5MW Demand Response capacity with Commercial & Industrial customers Project underway to deploy 5,000 household batteries 46#47Australia - Wholesale Market Conditions SWAP Price $/MWh 120 100 80 40 20 0 Year Ahead Swap Prices (1) NSW ―VIC Jan-15 Jul-15 Dec-15 Jun-16 Dec-16 Jun-17 Dec-17 Jun-18 Dec-18 Jun-19 Dec-19 Jun-20 Dec-20 Jun-21 Victoria Swap Prices • Contrasting wholesale prices in 1H2021 with low summer prices resulting from cooler summer temperatures and increased renewables, and high winter prices impacted by less coal generation due to outages across the National Electricity Market. Low forward prices expected to continue with potential volatility from an ageing fleet. Focus remains on asset availability, reliability and efficiency of existing fleet whilst completing major maintenance, alongside new flexible generation ahead of major coal retirements including progressing construction of Tallawarra B and planning for Wooreen Battery. South Australia intraday price profile 18 June 2021 120 100 SWAP PRICE $/MWH 80 80 60 40 40 20 Jan-18 Jun-18 Dec-18 Jun-19 CAL 2020 CAL 2021 CAL 2022 CAL 2023 Dec-19 Jun-20 Dec-20 Jun-21 years 同行望遠 Generation/Demand MW 5,000 4,500 4,000 3,500 3,000 2,500 2,000 1,500 1,000 500 200 160 120 80 40 0 -40 -80 -120 -160 0 -200 12:30 2:00 AM AM 3:30 5:00 6:30 8:00 9:30 11:00 12:30 2:00 3:30 5:00 AM AM AM AM AM AM PM PM PM PM 6:30 8:00 9:30 11:00 PM PM PM PM Rooftop PV (LHS) Utility Solar (LHS) Demand (LHS) S/MWh (RHS) CLP 中電 120 of shared vision (1) Prices presented are the calendar year flat contract price S/MWh 47 12#48India - Financials India CLP 中電 | 120 years 同行望遠 of shared vision HK$m Local Currency (Rs M) 1H2021 1H2020 1H2021 1H2020 Renewables 318 288 3,004 2,756 Thermal (Jhajjar) 193 258 1,823 2,468 Thermal (Paguthan & (48) (60) (453) (574) Corporate) Transmission 13 13 123 124 ACOI 476 499 4,497 4,774 Renewables 83 58 784 555 Thermal (Jhajjar) 42 65 397 622 Thermal (Paguthan & (17) (19) (161) (182) Corporate) Transmission 3 4 28 38 Operating/Total earnings 111 108 1,048 1,033 The average foreign exchange rates used to convert Indian Segment earnings to Hong Kong dollars are 0.10452 for 1H2020 and 0.10586 for 1H2021. Note that in the ACOI variance analysis presented in the body of the presentation 1H2020 earnings are adjusted for changes in foreign exchange before period on period variance in underlying performance is illustrated. 48#49India - Performance and Projects Performance and recent acquisition As COVID-19 cases rose sharply in the second wave of the pandemic in India this year, CLP India strengthened its efforts to protect the health and safety of employees and maintain reliable operations in support of customers. Increased precautions including contact tracing and testing have been implemented in CLP India's operations. CLP Group and CLP India provided support for relief efforts in local communities, including the procurement of oxygen and other critical medical supplies The KMTL transmission asset (251km in Manipur, Nagaland and Assam States) is fully commissioned and all requisite approvals from Government agencies and procurers have been received. Certain other conditions precedents are pending and takeover of the assets is expected during the second half of the year Major overhaul at Unit 1 at Jhajjar was completed successfully and without any lost time injuries in 1Q2021 Expanding our renewable generation portfolio The project progress at Sidhpur had been severely affected due to the upsurge in the COVID-19 cases in the second wave which had resulted in lockdown of villages around the site. The situation improved towards the end of May 2021. Wind turbine generator foundation works commenced in July 2021 Total receivables relating to revenue from our renewable energy projects is HK$844 million (Dec 2020: HK$771 million). Average life of overdue receivables reduced by receipt of long dated payments. While there are delays in receiving revenue, we continue to receive payments and there is no history of default Our partnership with CDPQ has brought long-term strategic backing & additional resources to support continuing growth We are actively exploring further potential opportunities for acquisitions and investments in renewable energy and transmission, as the Government continues to implement energy industry reforms CLP●中電|120 years 同行望遠 of shared vision 49 49#50Southeast Asia & Taiwan - Financials HK$ Local Currency 1H2021 1H2020 1H2021 1H2020 HK$M HK$M M M ACOI Thermal 127 172 NT$458 NT$665 Renewables 39 33 THB159 THB137 Operating expenditure (7) (9) Development expenditure (1) (13) Total 158 183 ELLEE Operating earnings Thermal Renewables Operating expenditure Development expenditure Total 127 172 NT$458 NT$665 33 33 THB133 THB137 (7) (9) (1) (13) 152 183 SEA & Taiwan CLP 中電 120 years 同行望遠 of shared vision The average foreign exchange rates used to convert SEA & Taiwan Segment earnings to Hong Kong dollars are 0.2445 and 0.2584 for 1H2020 and 0.2504 and 0.2775 for 1H2021 for Thai Baht and New Taiwan Dollars respectively. Note that in the ACOI variance analysis presented in the body of the presentation 1H2020 earnings are adjusted for changes in foreign exchange before year on year variance in underlying performance is illustrated 50#51Operational Yallourn 1,480/1,480 (c) Mount Piper (ii) 1,430/1,430 (c) Hallett 235/235 (g) Newport 500/500 (g) Mainland China 440/440 (g) 420/420 (g) India 693/560* (w) G Hong Thailand Kong 362/294* (s) 55/55* (bs) 22/4 (g) Fuel Source: Total 1,890 MW (c) coal-fired Operational (g) gas-fired Jhajjar 1,320/792 (c) (w) wind (h) hydro Paguthan 655/393 (g) (n) nuclear Wind Projects 924/555 (w) (d) diesel Solar Project # 250/150 (s) (s) solar TAIWAN total 264 MW (ws) energy-from-waste (p) pumped Storage Operational (bs) Battery Storage Ho-Ping 1,320/264 (c) CLP Group - Generation and Storage Portfolio (i) - 30 Jun 2021 19,867 Equity MW and 5,035MW Long Term Purchase (total 24,902MW) AUSTRALIA Jeeralang Tallawarra Wind Projects Solar Projects # Battery Projects (iii) Minor Project INDIA total 5,419MW* HONG KONG Operational Castle Peak A&B Black Point C&D1 (ii) Penny's Bay Energy-from-Waste Under Construction Black Point D2 MAINLAND CHINA Operational Daya Bay total 8,243MW* 4,108/4,108* (c) 3,225/3,225* (g) 300/300* (d) 10/10* (ws) 600/600* (g) total 9,066 MW* 1,968/1,577* (n) Yangjiang 6,516/1,108 (n) Pumped Storage 1,200/600* (d) Fangchenggang I & II 2,580/1,806 (c) SZPC 3,060/900 (c) Guohua 7,470/1,248 (c) Hydro Projects 509/489 (h) Wind Projects (iv) 1,354 / 910 (w) Australia Solar Projects # 328/328 (s) Under Construction Wind Project 100/100* (w) Taiwan THAILAND total 21 MW Operational Lopburi Solar # 63/21 CLP 120 years 同行望遠 (i) Equity basis plus long-term capacity and energy purchase arrangements. Includes battery discharge capacity (s) (ii) Gas turbine upgrade of Mount Piper and Black Point Power Station of shared vision Units C3 and C4 (iii) Including Gannawarra (25MW/50MWh) and Ballarat (30MW/30MWh) (iv) Divestment of Qujiagou and Mazongshan • Station Name Gross MW/CLP Equity MW * including long-term capacity and energy purchase # Solar projects in AC output 51#52CLP Group - Renewable Generation Portfolio - 30 Jun 2021 2,593 Equity MW and 825 MW Long Term Purchase (total 3,418MW) - 14% of CLP total generation portfolio MAINLAND CHINA 854 MW* INDIA 705 MW 1,828 MW Operational Wind 910 MW Hydro 489 MW Solar Weihai I & II 328 MW AUSTRALIA Operational Wind Solar Waterloo 560 MW 294 MW 111/56* Operational Wind Solar Khandke 555 MW 150 MW 50/30 69/31 Mainland China Nanao II & III 60/15 Shuangliao I & II 99/48 Datong 50/24 Cathedral Rocks Boco Rock Taralga Mortons Lane 113/113* 64/32 Samana I & II Saundatti 101/60 72/43 107/107* Theni I & II 100/60 20/20* Harapanahalli 40/24 Laizhou I 41/18 India Changling II 50/22 Hong Kong ⚫Thailand Gullen Range I 166/166* Andhra Lake 106/64 Bodangora 113/68* Sipla 50/30 Guohua Wind 395/194 Gannawarra Solar # 50/50* Bhakrani 102/61 Qian'an I & II 99/99 Penglai I 48/48 Chongming I 48/14 Ross River Solar # Manildra Solar # Coleambally Solar # 116/93* Mahidad 50/30 46/46* Jath 60/36 150/105* Tejuva 101/60 Laiwu I, II & III 149/149 Chandgarh 92/55 Xundian I 50/50 Veltoor Solar # 100/60 Sandu I 99/99 Gale Solar # 50/30 Tornado Solar # 20/12 CLP Laizhou I & II 99/99 Jiangbian Hydro 330/330 CREPL Solar # 30/18 Huaiji Hydro 129/110 DSPL Solar # 50/30 Dali Yang_er Hydro 50/50 THAILAND total 21 MW Australia Jinchang Solar # 85/85 Xicun I & II Solar # Wind projects (w) 84/84 Operational Lopburi Solar # 63/21 Sihong Solar # 93/93 Hydro projects (h) HONG KONG total 10 MW Huai'an Solar # 13/13 Lingyuan Solar # 17/17 Meizhou Solar # 36/36 Under Construction Wind Qian'an III 100 MW 100/100 Solar project(s) Energy-from-waste (ws) • Station Name Gross MW/CLP Equity MW including long-term capacity and energy purchase #Solar projects in AC output Operational West New Territories Landfill 10/10 52 52#53CLP Group - Generation and Storage Capacity (1) by Fuel Mix 24,902 MW Attributable to CLP Group Under construction Capacity by Total MW % Operational MW % MW do % Energy Type (a) + (b) (a) (b) Coal 12,027 48% 12,027 48% Gas 5,817 23% 5,217 21% 600 2% Nuclear 2,685 11% 2,685 11% Wind 2,125 9% 2,025 8% 100 <1% Hydro 489 2% 489 2% Solar 793 3% 793 3% Others 965 4% 965 4% Total 24,902 100% 24,202 97% 700 (1) Equity basis plus long-term capacity and energy purchase arrangements. Includes battery discharge capacity Note: Individual items and totals are rounded to the nearest appropriate number. Some totals may not add down the page due to rounding of individual components CLP 中電 120 years 同行望遠 of shared vision 3% 53#54CLP Group - Energy Sent Out - 1H2021 Energy Sent Out (1) TWh 25 20 20 15 10 5 0 CLP 2021 Interim Generation as Sent Out (1) 17.0 16.0 14.2 13.3 21% 49% 52% 24% 1H2021 2% 1% 9.4 10.2 2% 2% 1H2020 5% 5% 14% 20% 1H2020: 41.4 TWh 1H2021: 44.9 TWh 2.7 -5 1H2020 1.8 0.9 0.9 1H2021 1H2020 1H2021 1H2020 1H2021 1H2020 1H2021 1H2020 1H2021 Hong Kong Pumped Storage Mainland China Australia India Southeast Asia & Taiwan Nuclear Coal Gas Wind Solar Hydro Others CLP ● 中電120 years 同行望遠 of shared vision (1) Equity basis plus long-term capacity and energy purchase arrangements. Includes battery discharge capacity 54#55Additional Resources Annual Report 2020 Sustainability Report Interim Report(1) 2021 CLP120 2020 Annual Report CLP ① 中華 2020 2020 Sustainability Report CLP 中華 | 120mm 120 2021 years Introductory Pack August 2021 Annual Results Presentation February 2021 CLP(中)中電 120 CLP Holdings Investor Presentation Introductory Pack M2021 Energy for Brighter Tomorrows CLP ① 中電 CLP Holdings 2020 Annual Results Analyst Briefing 22 February 2021 Scan or click on the QR codes to go to appropriate pages Website: www.clpgroup.com Investor Relations contact: [email protected] (1) To be published in August 2021 GETITION Google Play Download on the App Store 中 Investor Relations CLP●中電|120 years 同行望遠 of shared vision Energy for Brighter Tomorrows - 55