Investor Presentaiton
INFRASTRUCTURE FOR THE FUTURE
OUTLOOK AND DISTRIBUTIONS
Delivering strong growth and sustainable yield into the future
Outlook
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SAPN (May 2020) and VPN (April 2021) regulatory determinations deliver revenue certainty for next 5 years
Expecting good customer and regulatory support for opex and capex allowances for VPN determination; based on
SAPN recent outcomes
⚫ Growth agenda for regulated and contracted assets at TransGrid is substantial, supported by AEMO's 2020 ISP
Organic RCAB CAGR growth expected over the next 5 years of over 4% p.a.
• Well positioned and disciplined approach for further opportunities in contracted renewables and storage
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Substantial balance sheet capacity and on-going DRP expected to be sufficient to fund growth pipeline, whilst
maintaining investment grade rating
Will retain strongly defensive qualities, e.g. regulated assets to continue to exceed 85% of total assets
Other inorganic opportunities will be assessed on highly selective and disciplined basis
Distribution
guidance
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Reconfirmed distribution guidance for FY20 of at-least 13.5cps (2H20 at least 6.5cps), subject to business conditions
Distributions expected to be covered by look-through net operating cash flows
⚫ DRP to remain in operation, to fund growth pipeline
Investment mandate of essential services infrastructure incorporates electricity, gas and water, with a strong focus on growth and
supporting the energy transition to lower carbon emissions
Spark Infrastructure I Investor Presentation | August 2020
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