Non-Executive Director Fee Benchmarking Report

This document is a summary report detailing the findings of a benchmarking study conducted by Mercer for Contact Energy Limited regarding non-executive director (NED) remuneration. The report outlines the methodology used to gather data on NED fees from a peer group of comparable publicly listed companies on the New Zealand Exchange (NZX) and the Australian Securities Exchange (ASX). It presents the benchmarking outcomes, indicating Contact's positioning against the peer group in terms of various fee elements, including board fees and committee fees. The report also includes recommendations for adjustments to Contact's policy fees based on the analysis of the peer group data. Mercer suggests maintaining the current fees for certain committees while proposing an increase in the aggregate fee pool to ensure adequate remuneration for board members over the next several years. The document serves as a resource for shareholders and proxy advisors to review the remuneration practices of Contact Energy Limited.