Investor Presentaiton

INFRASTRUCTURE FOR THE FUTURE TRANSGRID Key Financial Drivers - Unregulated Business Contracted Capital Expenditure Down by $31.4m Unregulated Revenue Up by $4.1m • • • Infrastructure capex includes renewable connections projects delivered in FY2020 (Darlington Point, Kiamal and Bomen Solar Farm) Increase in telco capex primarily driven by NBN POI rollout Infrastructure connection revenue continued to increase in 2020 to $80.9m (FY2019: $50.7m) as construction of a number of connection assets was completed Decrease in line modification revenue to $12.8m (FY2019: $39.3m) as a result of the completion of a number of one-off projects in 2019 Connections revenue is expected to continue to grow with a number of new connections projects currently under construction and in the pipeline Increase in telecommunications revenue as a result of growth in data services and co-location facilities Unregulated Operating Costs Up by $18.8m Contracted Asset Base Up by $183.2m(1) • • Increase in new infrastructure connections partially offset by a decrease to the number of line modification projects • Additional project development costs supporting the acceleration of TransGrid's rapidly expanding non prescribed connections pipeline, which is delivering increased contracted revenue growth (i.e. pre-contract / proposal costs) CAB increased to $820m • Increase driven by capex of $208.7m less depreciation of $24m and revaluation decrement on investment property $1.7m TransGrid has seen CAB growth of 28.8% over the 12 months (1) From 31 December 2019 Spark Infrastructure | Investor Presentation | February 2021 19

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