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Investor Presentaiton

INFRASTRUCTURE FOR THE FUTURE INVESTMENT GRADE FUNDING Issuer Credit Rating (S&P / Moody's) Weighted Average Maturity (1) (31 December 2019) Net Debt at 30 June 2020 (31 December 2019) Net Debt/ RAB at 30 June 2020 (31 December 2019) Net Debt/ RAB + CAB at 30 June 2020 (31 December 2019) FFO / Net Debt at 30 June 2020 (31 December 2019) Victoria Power Networks A- / n/a 4.9 yrs (5.4 yrs) $4.666bn ($4.494bn) 71.6% (70.9%) SA Power Networks A- / n/a 6.4 yrs (6.9 yrs) $3.225bn ($3.232bn) 73.8% (74.5%) TransGrid n/a / Baa2 (2) (on USPP notes) 4.6 yrs (2) (5.1 yrs) $5.836bn (3) ($5.718bn) 87.4% (2) (88.9%) 79.8% (3) N/A N/A (80.2%) 14.4% (15.2%) Gross Debt at 30 June 2020 $4.737bn 17.8% (16.7%) $3.322bn 7.7% (2) (8.1%) $5.955bn (4) (31 December 2019) ($4.555bn) ($3.262bn) ($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 30 June 2020 (2) Relates to the Obligor Group (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 I Investor Presentation | August 2020 53
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