Investor Presentaiton

INFRASTRUCTURE FOR THE FUTURE INVESTMENT GRADE FUNDING Issuer Credit Rating (S&P / Moody's) Weighted Average Maturity (31 December 2019) (1) Net Debt at 31 December 2020 (31 December 2019) Net Debt/ RAB at 31 December 2020 (31 December 2019) Net Debt/ RAB + CAB at 31 December 2020 (31 December 2019) FFO / Net Debt at 31 December 2020 (31 December 2019) Gross Debt at 31 December 2020 (31 December 2019) Victoria Power Networks A- / n/a 4.6 yrs (5.4 yrs) $4.799bn ($4.494bn) 72.3% (70.9%) SA Power Networks A-/n/a 5.9 yrs (6.9 yrs) $3.247bn ($3.232bn) 73.9% (74.5%) Trans Grid n/a / Baa2 (2) (on AMTN and USPP notes) 5.1 yrs (2) (5.1 yrs) $6.064bn (3) ($5.718bn) 89.5% (2) (88.9%) 80.7% (3) (80.2%) 7.4% (2) (8.1%) N/A N/A 13.8% 15.9% (15.2%) (16.7%) $4.928bn ($4.555bn) $3.322bn ($3.262bn) $6.183bn (4) ($5.846bn) Spark Infrastructure has increased corporate facilities to $400m; rated Baa1 by Moody's (1) Weighted average maturity calculation is based on drawn debt at 31 December 2020 (2) Relates to the Obligor Group (i.e. excludes TGS) (3) Net Debt is calculated using gross debt less cash and adjusted for prescribed revenue over/(under) collection and includes TransGrid Services (4) Includes TransGrid Services Spark Infrastructure | Investor Presentation I February 2021 50

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