Investor Presentaiton

INFRASTRUCTURE FOR THE FUTURE KEY METRICS Distributions, RAB, credit metrics and gearing SECURITY METRICS Market price at 19 February 2021 Market capitalisation DISTRIBUTIONS 2020 actual Comprising: - Loan Note interest - Trust Distributions - Franking credits 2021 Guidance - Franking credits CREDIT RATINGS Investment portfolio credit ratings VICTORIA POWER NETWORKS $m $2.08 RAB(1) (including AMI) 6,635 $3.6 billion Net debt 4,799 Net debt/RAB 72.3% 13.50cps SA POWER NETWORKS $m 7.05cps RAB (1) 4,395 6.45cps Net debt 3,247 2.10cps Net debt/RAB 73.9% 12.50cps -25% TRANSGRID $m RAB(1) 6,697 CAB(1)(2) 820 SA Power Networks: A- Victoria Power Networks: A- RCAB(1)(2) 7,517 TransGrid: Baa2 Net debt (3) 6,064 Spark Infrastructure level credit rating SPARK INFRASTRUCTURE Baa1 Net debt/RAB (4) 89.5% Net debt/RCAB 80.7% $m Total RAB and CAB (Spark Infrastructure share) 6,704 Gross debt at Spark Infrastructure level 40 (1) December 2020 estimate (2) Includes WIP/partially completed assets and investment property (3) Net Debt is calculated using gross debt less cash and adjusted for prescribed revenue over/(under) collection and includes TransGrid Services (4) Relates to TransGrid Obligor Group Spark Infrastructure I Investor Presentation | February 2021 42

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