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Investor Presentaiton

Waipori Outage For five months during FY-22, our Waipori scheme in Otago underwent significant planned upgrades and maintenance. • Works completed in challenging COVID times. with a high focus on pre-planning to achieve excellent health and safety outcomes and environmental compliance. ● • Works spanned all four stations, encompassing over 20 individual projects and workstreams, with work force peaking at 91 people, and was the largest outage at Waipori over the last 10 years No loss of water through careful planning and timing. Maintenance works at 2a station Upgrading intake structure for 4 station wwwww MANAWA ENERGY

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