Vector Limited (NS) — AGM Information 2021

Sep 29, 2021

29 SEPTEMBER 2021

Annual Meeting

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Disclaimer

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.

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Jonathan Mason Chair

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Asking questions online

Written Questions:

Questions may be submitted ahead of the meeting. If you have a question to submit during the live meeting, please select the Q&A tab on the right half of your screen at anytime. Type your question into the field and press submit. Your question will be immediately submitted.

Help:

The Q&A tab can also be used for immediate help. If you need assistance, please submit your query in the same manner as typing a question and a Computershare representative will respond to you directly.

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Voting online

Shareholder & Proxyholder Voting:

Once the voting has been opened, the resolutions and voting options will allow voting.

To vote, simply click on the Vote tab, and select your voting direction from the options shown on the screen. You can vote for all resolutions at once or by each resolution. Your vote has been cast when the tick appears. To change your vote, select ‘Change Your Vote’.

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‘Change Your Vote’.
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Agenda

• Ordinary business

• Chair’s Address

• Group Chief Executive’s Address

• Resolution and Final chance for voting

• General Business

• Questions & Answers

• Meeting Close

Vector’s Vision

Southern Paprika A commercial customer in Warkworth

Decarbonisation

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We aim to provide solutions that give our customers the choice and opportunities to help lower their emissions

Public policy

We will continue to engage as final decisions are worked through on the best possible transition plan

Jonathan Mason Chair

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Simon Mackenzie Group Chief Executive

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Thank you to our essential workers for continuing to deliver for our customers

Overview of financial performance

FY21 FINANCIAL PERFORMANCE ($M)

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1,294.0 1,279.3
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FY20
FY21
529.5
490.0 513.5 488.7 499.1
397.3
194.6
165.0 167.5
97.3
Revenue Adjusted EBITDA Capital Expenditure Net Profit Operating Cash Flow Full Year Dividend
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Adjusted EBITDA is not a GAAP measure of profit. For a reconciliation of adjusted EBITDA to EBITDA and net profit refer to page 29 of this presentation.

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Highlights

$529.5m Gross capex

Vector Technology Services

10.9% EBITDA growth in Metering business

EV Smart Charging

Smart, dynamic charging, helps make EVs more affordable

Strategic alliance

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Vector has an innovation track record and is experienced in working with, and is culturally aligned, with AWS

Vector and X strategic collaboration

A strategic collaboration between Vector and X will include virtualising New Zealand’s largest electricity network

Taskforce on Climate-related Financial Disclosure

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Climate change brings both risks and opportunities for Vector

Simon Mackenzie Group Chief Executive

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Jonathan Mason Chair

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Ordinary business

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Election and re-election of Directors

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Anne Urlwin BCom, FCA, CFInstD, MAICD, ACIS, FNZIM Anne is a professional director with experience in a diverse range of sectors including construction, health, infrastructure, telecommunications, renewable energy, regulation and financial services. Her current governance roles include directorships of Precinct Properties New Zealand, Summerset Group Holdings, Queenstown Airport Corporation and City Rail Link. Anne is a former director of Tilt Renewables, Chorus, and Meridian Energy, and a former Chair of national commercial construction group Naylor Love Enterprises and the New Zealand Blood Service. Anne is a Chartered Accountant with experience in senior finance management roles in addition to her governance roles.

Election of Anne Urlwin

Prox votin Votes y g For 802,653,668 Against 130,216 Discretionary 4,795,077 Abstain 72,881

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Bruce Turner

BE (Hons), ME, BCom

Bruce Turner is a highly experienced senior executive with deep experience across the dairy and energy sectors, both in New Zealand and internationally.

Working in the energy industry for more than 30 years, Bruce was extensively involved in the development of the energy industry in New Zealand, Singapore and Europe as a member of the dispatch rules working group, the NZEM Rules Committee, the MARIA governance board and the development of industry common quality standards. He was a member of the Electricity Authority’s Security and Reliability Council and heavily involved in sector reforms. As well as the Vector board, Bruce’s governance experience includes joint venture boards for both Mercury and Fonterra.

Bruce is an advisory board member at the University of Colorado’s JP Morgan Center for Commodities, and was a member of the AUT Business School Industry Advisory Board (retired by rotation).

Re-election of Bruce Turner

Prox votin Votes y g For 802,197,188 Against 615,751 Discretionary 4,821,129 Abstain 17,774

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Tony Carter BE (Hons), ME, MPhil

Tony Carter was Managing Director of Foodstuffs New Zealand Ltd for 10 years until he retired in 2010. Tony is currently Chair of Datacom Ltd, My Food Bag Group Ltd and TR Group Ltd. He was previously Chair of Air New Zealand Ltd until 2019, Chair of Fisher & Paykel Healthcare Limited until August 2020 and a director of ANZ Bank New Zealand Ltd until August 2021. He was made a Companion of the New Zealand Order of Merit in 2020.

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Re-election of Tony Carter

Prox votin Votes y g For 802,444,037 Against 366,054 Discretionary 4,803,722 Abstain 38,029

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Appointment and remuneration of auditor

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Appointment and remuneration of auditor

Prox votin Votes y g For 802,151,951 Against 528,094 Discretionary 4,931,795 Abstain 40,002

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General business

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Final chance for voting

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Thank you

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