CEN announces opening of NZ$75 million Retail Offer

Thursday 19th February 2026

Contact Energy Limited (NZX/ASX: CEN) (Contact) is pleased to announce the opening of its non-underwritten Retail Offer (Retail Offer) to raise up to NZ$75 million (with the ability to accept oversubscriptions at Contact’s discretion). The Retail Offer forms part of the equity raise announced on 16 February 2026, which also included a fully underwritten placement of NZ$450 million (Placement).

Contact announced the successful completion of the NZ$450 million Placement on 17 February 2026. The Placement was strongly supported and fully subscribed at a price of NZ$8.75 per share. Settlement of the Placement is expected to occur on 19 February 2026 for the ASX and on 20 February 2026 for the NZX, with the allotment of all shares and the commencement of trading on NZX and ASX expected to occur on 20 February 2026.

The Retail Offer gives all Eligible Shareholders the opportunity to purchase up to NZ$100,000 (in the case of New Zealand Eligible Shareholders) and A$41,000 (in the case of Australian Eligible Shareholders1) of shares in Contact (subject to scaling) without incurring brokerage or other transaction costs, at a price to be determined, as described below and in more detail in the attached Retail Offer Document.

An Eligible Shareholder is (in summary) a person who was recorded in Contact’s share register at 7:00pm NZDT / 5:00pm AEDT on 13 February 2026 (Record Date) as holding Contact shares and having an address in New Zealand or Australia.

Contact may elect to accept oversubscriptions and/or scale back the number of shares to be allotted under this Retail Offer at Contact’s discretion. Any scaling of applications will be carried out according only to the number of fully paid ordinary shares held by Eligible Shareholders accepting the Retail Offer (or, in the case of an application made by a custodian, the relevant beneficial owner(s)) on the Record Date.

The new shares issued under the Retail Offer will rank equally in all respects with Contact’s existing ordinary shares, including those to be issued under the Placement. The new shares issued under Retail Offer (and the Placement) are not entitled to the interim dividend to be paid on 25 March 2026 (with a record date of 19 February 2026).

The Retail Offer issue price will be the lower of:

• The Placement price of NZ$8.75 per share; and

• A 2.5% discount to the volume weighted average market price of Contact shares traded on the NZX Main Board over the five business day period prior to and including the closing date for the Retail Offer, rounded down to the nearest cent

For the avoidance of doubt, persons in the United States are not eligible to participate in the Retail Offer, and persons who hold shares on behalf of persons in the United States are not eligible to participate in the Retail Offer in respect of those persons.

The Retail Offer of up to NZ$75 million (with the ability to accept oversubscriptions at Contact’s discretion) has been sized to reflect the retail shareholder base, with the objective of providing almost all Eligible Shareholders the opportunity to maintain their pro rata shareholding, should they choose to do so.

A letter will be sent to all Eligible Shareholders today via their preferred method of shareholder communications advising them of opening of the Retail Offer and providing further details regarding how to apply. No Retail Offer Document or Application Form will be sent to shareholders.

The Retail Offer Document will be available to Eligible Shareholders today at www.contactshareoffer.co.nz. All Eligible Shareholders are encouraged to visit that website and read all of the materials available or referred to on it (including the offer document, investor presentation and market announcement published by Contact on 16 February 2026) before making a decision whether to apply online. Eligible Shareholders who wish to participate in the Retail Offer should apply online before 5:00pm (NZDT) / 3:00pm (AEDT) on 6 March 2026.

Key dates relating to the Retail Offer are set out in the Appendix to this announcement. A copy of the Retail Offer booklet also accompanies this announcement.

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