Investor Presentaiton

INFRASTRUCTURE FOR THE FUTURE TRANSGRID Financial ($m) (1) Regulated revenue Unregulated revenue HY 2020 HY 2019 Change CPI-X(2) $5.7m 381.5 379.0 STPIS (3) 63.0 74.4 $8.3m Other Revenue (8) (3.8) 1.2 Total Revenue 440.7 454.6 -3.1% RAB(4) Growth 2.3% Regulated operating costs (81.3) (78.4) CAB(4)(5) Unregulated operating and other costs (32.8) (24.2) 43.1% Growth EBITDA 326.6 352.0 -7.2% Other FTE Change(4) 3.0% Net finance costs Regulated capital expenditure Contracted capital expenditure Distributions received by Spark Infrastructure (108.2) (111.3) 204.6 124.3 105.7 106.1 11.6 21.5 -46.0% FFO / Net Debt(7) 7.7% Net Debt / RCAB(5)(6) 79.8% Capital Expenditure for HY2020 increased $79.9m or 34.7% (1) 100% basis (2) Relates to period 1 January 2020 to 30 June 2020 and includes an adjustment relating to the revocation and substitution of TransGrid's revenue determination for the 2014-2018 regulatory period (3) 2018 STPIS result to be recovered from 1 July 2019 (4) Compared with June 2019 (5) CAB comprises of unregulated infrastructure and telecommunication assets and investment property (6) Net Debt is calculated using gross debt less cash and adjusted for prescribed revenue over/(under) collection and includes TransGrid Services (TGS) (7) Relates to TransGrid Obligor Group (8) HY2020 amount of ($3.8m) relates to revaluation of investment property Spark Infrastructure I Investor Presentation | August 2020 15

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