Slides
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Annual Meeting 30 SEPTEMBER 2025
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This presentation contains forward-looking statements. Forward-looking statements often include words such as "anticipates", "estimates", "expects", "intends", "plans", "believes“ and similar words in connection with discussions of future operating or financial performance. The forward-looking statements are based on management's and directors’ current expectations and assumptions regarding Vector’s businesses and performance, the economy and other future conditions, circumstances and results. As with any projection or forecast, forward-looking statements are inherently susceptible to uncertainty and changes in circumstances. Vector’s actual results may vary materially from those expressed or implied in its forward-looking statements. Disclaimer 2
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Doug McKay Chair 3
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• Instructions for voting and asking questions • Ordinary business • Chair’s address • Group chief executive’s address • Election and re-election of directors • Increase to the directors’ fee pool • Appointment and remuneration of auditor • General business and shareholder questions • Final chance for voting • Meeting closes Agenda 4
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Questions may be asked at the relevant time during the meeting. Two questions only per person. The chair, CEO and staff will be available after the meeting for other questions. Online questions can be submitted at any time. Asking questions 5
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You may mark your voting paper at any time. A team member from Computershare will collect the voting forms at the conclusion of the meeting. The Chair will indicate the final opportunity for voting before the papers are collected. Online voting can be changed at any time, until voting closes. Voting 6
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843 shareholders, holding a total of more than 848,536,130 shares, have appointed proxies. Doug McKay, in his capacity as Chair and in his own name, holds proxies for 408 shareholders, representing 844,232,948 shares. Included in these proxies are 751,000,000 shares held by Entrust, our majority shareholder. Voting is open 7
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Solid performance Adjusted EBITDA ($M) 8 345 +57 +2 -3 401 FY24 Electricity Gas Distribution Other FY25
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Solid performance NPAT ($M) 9 76 +56 +15 -13 -20 +23 +18 155 FY24 Adj. EBITDA Capital Contributions Depreciation and Amortisation Net Interest Impairment Other FY25 ”Other” includes, share of associates, fair value changes on financial instruments and tax.
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Dividend Dividend (cents per share) 10 7.50 7.75 8.00 8.25 8.25 8.25 8.25 8.25 8.25 9.25 12.00 8.00 8.00 8.00 8.00 8.25 8.25 8.50 8.50 8.50 13.00 13.00 5.50 1.75 15.50 15.75 16.00 16.25 16.50 16.50 16.75 16.75 22.25 24.00 25.00 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 Interim Final Special
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Simon Mackenzie Group chief executive 11
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12 Prudent investment for affordability
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13 Developing AI tools
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14 Reducing emissions
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Simon Mackenzie Group chief executive 15
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Outlook 16 • As with the half year we will be providing guidance on adjusted EBITDA, gross capex and capital contributions. • For FY26 the guidance range is as follows: • Adjusted EBITDA: $470m - $490m – forecast increase on FY25 is driven primarily by the first full year of the electricity DPP4 period • Gross Capex: $520m - $590m – forecast increase on FY25 is linked to expected customer driven growth and our continued investment in the network • Capital Contributions: $180m – $230m
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Doug McKay Chair 17
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Questions on chair and CEO report and financial statements 18
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Election and re-election of directors 19
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Vaughan Busby Director 20
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Alastair Bell Director 21
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Paul Hutchison Director 22
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Doug McKay Director 23
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Paula Rebstock Director 24
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Election and re-election Q&A 25
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Proxy results: election and re- election of directors Proxy voting Busby Bell Hutchison McKay Rebstock For 843,919,142 837,342,398 843,931,524 836,498,353 841,068,587 Against 40,181 6,681,722 82,556 7,546,891 2,989,194 Discretionary 4,576,807 4,519,743 4,501,884 4,478,649 4,488,708 Abstain 36,290 28,557 56,456 48,527 25,931 26
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Increase to directors’ fee pool 27
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Proxy results: increase to directors’ fee pool Proxy voting Votes For 843,163,378 Against 835,092 Discretionary 4,484,058 Abstain 89,892 28
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Appointment and remuneration of auditor 29
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Proxy results: appointment and remuneration of auditor Proxy voting Votes For 843,639,674 Against 443,943 Discretionary 4,467,038 Abstain 21,765 30
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General business and Q&A 31
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Final chance for voting 32
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Thank you 33