Investor Presentaiton

INFRASTRUCTURE FOR THE FUTURE TRANSGRID Key Financial Drivers - Regulated Business Regulated Revenue Up by 2.5% Regulated Asset Base Up by 3.2% CPI of 1.80% from 1 July 2020 (1 July 2019: CPI of 1.80%) X-factor from 1 July 2020 was -0.17% and from 1 July 2019 was -0.97% representing a real increase in revenues before CPI $15.3m STPIS payment RAB increased to $6,697m Increase driven by capital expenditure of $433m, less regulatory depreciation of $282m, and includes CPI uplift of $62m Operating Costs • Lower labour costs, consulting and other operational costs as a result of operating efficiencies gained Down 2.1% (3) Capital Expenditure Up by 96.7% • Growth/Augmentation capex (1) of $291.9m (up 399.8%) Maintenance capex of $170.9m (up 6.4%) Non-network(2) capex of $38.2m (up 6.7%) Increase was mainly due to investment in augmentation projects including Powering Sydney's Future, Stockdill Switching Station and ISP projects, and higher maintenance capex TransGrid has seen RAB growth of 3.2% over the 12 months (1) Includes Integrated System Plan (ISP) projects (2) Includes Network Capability Incentive Project Action Plan (NCIPAP) capex (3) Excluding $12.8m bushfire costs incurred during FY2020 for remediation of damage sustained during the bushfires in November and December 2019, expected to be recovered through cost pass-through provisions. Spark Infrastructure I Investor Presentation | February 2021 18

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