Investor Presentaiton

VICTORIA POWER NETWORKS – HY 2013 Business update - Powercor Electricity sales volumes Residential/Domestic Small Business Large Business Unmetered Total Q CITIPOWER Residential/Domestic Small Business Large Business Unmetered Total HY 2013 Quantity (GW h) HY 2012 Variance 1,655 1,711 (3.3%) 989 977 2,622 53 5,319 2,633 1.2% (0.4%) 52 1.9% 5,373 (1.0%) Quantity (GW h) HY 2013 HY 2012 Variance 613 618 (0.8%) 958 975 (1.7%) 1,430 1,363 4.9% 20 19 5.3% 3,021 2,975 1.5% Appeal revenues recovered from 1 January 2013 - Additional $149.0 million (nominal) appeal revenue due over the remainder of the current regulatory period (reflected in the X-Factors applied from 1 January 2013 until 31 December 2015) PNS external revenue - higher level of activity, particularly Endeavour Energy and TransGrid in New South Wales and the Elaine Terminal Station project in Victoria Service Target Performance Incentive Scheme (STPIS) - No revenue accrued in HY 2013 with respect to the 2012 regulatory year. Outperformance in 2011 regulatory year will see the recovery of ~$15 million during FY 2013 Advanced Metering Infrastructure At 30 June 2013 -88% (31 December 2012 ~77%) of the planned smart meter roll-out was complete across Citi Power and Powercor. Equates to ~1 million meters Residential solar penetration - June 2013: Citi Power 2.3%, Powercor 10.4%. December 2012: CitiPower 1.8%, Powercor 8.0% SPARK INFRASTRUCTURE INVESTOR PRESENTATION - NOVEMBER 2013 28 sparkinfrastructure

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