Investor Presentaiton

Financial summary Statement of profit or loss and other comprehensive income nom. $ million Revenue SCS ACS Unregulated Interest income Total revenue Expenses SCS ACS Unregulated Pass-through costs Unregulated energy costs Total operating expenses EBITDA Depreciation and amortisation Finance costs Impairment expense Loss on disposal of PP&E Profit for the year FY18 FY19 2,327 168 2,299 154 117 142 4 3 2,616 2,598 (465) (446) (76) (88) (87) (107) (435) (355) (1) (1064) (996) 1,552 1602 (543) (593) (482) (478) (348) (10) (21) 517 162 • • Key highlights Revenue decreased mainly due to a reduction in energy consumption for low voltage non-residential customer. Operating expenses decreased mainly due to lower transmission costs from TransGrid, lower consultancy and contractor expenditure, partially offset by higher IT maintenance costs and higher employee benefits costs. Employee benefit costs increased mainly due to higher reform costs primarily driven by the restructuring provision reassessments and the increase in long service leave costs as a result of a reduction in the discount rate from 4.00% at 30 June 2018 to 2.75% at 30 June 2019. EBITDA includes reform costs of $35 million in FY18 and $77 million in FY19. In FY19 an impairment of $348 million was recognised against the goodwill allocated to the NSP. The NSP impairment resulted mainly from the AER Final Determination. Ausgrid 22 22

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