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Investor Presentaiton

INFRASTRUCTURE FOR THE FUTURE CAPITAL EXPENDITURE (100% BASIS) Victoria Power $m SA Power Networks Trans Grid Totals Networks 2020 2019 2020 2019 2020 2019 2020 2019 Growth capex 387.2 342.6 138.2 138.4 291.9 58.4 817.3 539.4 Growth capex-non prescribed 207.2 238.6 207.2 238.6 Non-network capex (1) 38.2 35.8 38.2 35.8 Maintenance capex 198.0 165.0 230.5 267.2 170.9 160.6 599.4 592.8 Total 585.2 507.6 368.7 405.6 708.2 493.4 1,662.1 1,406.6 Spark Infrastructure share 286.8 248.7 180.7 198.7 106.3 74.1 573.7 521.5 Change vs pcp (%) 15.3% -9.1% 43.5% 10.0% Maintenance capex Regulatory Less inflation uplift Net regulatory $m spend depreciation on RAB depreciation 2020 2019 2020 2019 2020 2019 2020 2019 Victoria Power Networks SA Power Networks TransGrid Total Spark Infrastructure share 198.0 165.0 402.1 389.5 (100.0) (126.4) 302.2 263.1 230.5 267.2 328.0 321.0 (52.2) (74.7) 275.8 246.3 170.9 160.6 282.1 265.3 (62.2) (126.5) 219.9 138.8 599.4 592.8 1012.2 975.8 (214.4) (327.6) 797.9 648.2 235.6 235.9 400.1 388.0 (83.9) (117.5) 316.2 270.5 (1) Non-network capex includes NCIPAP Spark Infrastructure I Investor Presentation | February 2021 49
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