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Investor Presentaiton

INFRASTRUCTURE FOR THE FUTURE SHARE OF EQUITY PROFITS TO NPAT 100% Basis $m Spark Victoria Power Networks SA Power Networks TransGrid Infrastructure Share Regulated revenue Other revenue Total Income Operating costs EBITDA Depreciation and amortisation Net interest expense (excl subordinated debt) Subordinated debt interest expense Net Profit/(Loss) before Tax Tax expense 490.4 430.0 367.8 506.2 191.3 197.1 59.2 199.2 681.7 627.0 427.1 705.4 (252.5) (265.4) (114.1) (270.9) 429.2 361.6 313.0 434.5 (161.0) (155.1) (168.2) (180.2) (82.7) (72.2) (108.1) (92.1) (50.9) (36.1) (33.0) (47.6) 134.7 98.2 3.7 114.6 (42.0) (2.2) (21.7) Net Profit/(Loss) after Tax 92.7 95.9 3.7 93.0 Less: additional share of profit from preferred partnership capital (PPC) (1) (34.7) (17.0) Net Profit for Equity Accounting 92.7 61.2 3.7 76.0 Spark Infrastructure Share 45.4 30.0 0.6 76.0 Add: additional share of profit from PPC(1) 34.7 34.7 (2) Less: additional adjustments made to share of equity accounted profits 0.1 0.8 1.1 2.0 Share of Equity Accounted Profits 45.5 65.5 1.7 112.7 - Add: interest income from associates Total Income from Associates Interest income - other Interest expense (including borrowing costs) Interest expense Loan Notes General and administrative expenses Unrealised gain on derivatives - PPA Profit before Income Tax Income tax expense Net Profit after Income Tax Attributable to Securityholders (1) Under the partnership agreement, Spark Infrastructure is entitled to an additional share of profit in SA Power Networks (2) Includes adjustments made to distribution/transmission revenues to defer/accrue for amounts in excess of/under the regulated revenue cap to reflect that these amounts will be returned to/recovered from electricity consumers in future periods via adjustments to tariffs Spark Infrastructure I Investor Presentation | August 2020 24.9 4.9 29.9 70.4 65.5 6.6 142.6 0.4 (7.9) (58.8) (11.0) 8.1 73.4 (23.7) 49.7 61
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