Slides
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CLP Holdings 2026 Interim Results Presentation 6 August 2026 CLP ● 中 電 | 125 Power Brighter Tomorrows
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CLP Holdings Limited (the “Company”, together with its subsidiaries, the “Group”, or “we”, “our” or “us” as the context requires) is providing this document and making an oral presentation thereon (together, this presentation) for information only. We do not represent or warrant (expressly or impliedly) the fairness, accuracy, completeness or correctness of the information contained in this presentation. You should not rely on this presentation for any investment decisions. We and our affiliates, advisors or representatives do not assume any liability whatsoever for any loss howsoever arising from the use of, or in connection with, this presentation or its contents. We may make comments and statements in this presentation that are forward looking, which by definition, relate to future events. While we made such comments and statements based on our current and genuinely-held views, circumstances may turn out differently in the future. The matters and events we discuss in the forward-looking statements might not occur in the way we expect, or at all. You should not consider any of such comments or statements as forecasts, or place undue reliance on these comments or statements. Further, we do not undertake to update or revise any comments or statements, whether as a result of new information, future events or otherwise. This presentation is not, and is not intended to be, for publication, distribution, release or dissemination, directly or indirectly, in or into any other jurisdiction which to do so would be restricted, unlawful or a breach of a legal or regulatory requirement. This presentation does not constitute an offer or invitation to purchase or subscribe for any securities or financial instruments or the provision of any investment advice, and no part of it shall form the basis of or be relied upon in connection with any contract, commitment or investment decision in relation thereto. Further, this presentation is not a recommendation regarding any securities or financial instruments of the Company. By attending or reading this presentation, you will be deemed to have agreed to the terms, obligations and restrictions set out herein. NOTES You are reminded to read and construe this presentation in conjunction with the announcement of the Company dated 6 August 2026 in relation to its interim results for the six months ended 30 June 2026. Maps included in the presentation are indicative only. They are provided for the purpose of showing the approximate location of our assets, and do not purport to show the official political borders between different countries. The English version of this document shall prevail over the Chinese version of this document, should there be any inconsistency or discrepancy in terms of the content contained in, and between, the English and Chinese versions of this document. Disclaimer 2
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Overview TK Chiang, Chief Executive Officer Financial Performance and Outlook Alex Keisser, Chief Financial Officer Strategy and Roadmap TK Chiang, Chief Executive Officer Questions and Answers Appendices Agenda CLP’s 125th anniversary celebration ceremony. 3
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Overview 4 Sandu II Wind Farm located in Guizhou, Chinese Mainland. Commenced commercial operation in March 2026.
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1H2026 highlights Led by regulated Hong Kong’s continued capital investments, and improved performances from all regions. Active asset rotation: decarbonisation milestone delivered with sale of Jhajjar. Capital efficient funding: inaugural Panda bond issuance enabling self-funded structure for Chinese Mainland renewables platform. Growth capital directed to enabling infrastructure of the energy transition in fast-growing Asia Pacific markets. Group wide efficiency and digitalisation agenda delivering recurring benefits Transformation programmes advancing to unlock next phase of performance. Portfolio value creation and capital discipline Operational excellence and transformation agenda 5 Strong earnings performance
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Operational Highlights 1H2026 highlights 6 Change Financial Highlights Customer Accounts Generation Safety & Customers Change Total recordable injury rate 2 0.12 0.03 Unplanned customer minutes lost in Hong Kong 3 1.83 min 0.48 min Hong Kong 2.92 million 59k Australia 2.23 million 99k Electricity sent out 4 36.0TWh 1% Capacity 4 22.7GW 2% Dividend & Yield Dividend yield 1 4.4% Second interim dividend HK$0.63 per share Total 1H2026 dividend HK$1.26 per share - - 7%Total Earnings HK$5,997 million Operating Earnings (before Fair Value Movements) HK$5,733 million 10% 1. Dividend yield is calculated as the recent four quarters dividend per share divided by closing share price on 30 June 2026. 2. Total recordable injury rate refers to the number of total recordable injuries per 200,000 work hours in the period. 3. Unplanned customer minutes lost is based on the average of the past 36 months. If taking out the impact due to major event da y (Typhoon Saola in 2023, Wipha & Ragasa in 2025), the average for the past 36 months was 1.1 minutes. 4. On an equity plus long-term capacity and energy purchase basis. Covers CLP’s generation and energy storage portfolio.
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7 Financial Performance And Outlook Ma Sik Road Substation in Fanling, located within Northern Metropolis in Hong Kong.
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1H2026 financial overview HK$5,733 million 10% HK$5,997 million 7%HK$13,575 million 9% 1 EBITDAF = Earnings before interest, taxes, depreciation and amortisation, and fair value movements. Recurring EBITDAF and Ope rating Earnings exclude items affecting comparability. 2 On cash basis. HK$0.63 Second Interim DPS Declared HK$1.26 Total DPS Declared for 1H2026 HK$7,319 million 11% Operating Earnings 1 before Fair Value MovementsEBITDAF 1 8 Total Earnings Capital Investment 2 Dividend Per Share (DPS)
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HK$M 1H2026 1H2025 Change Hong Kong energy and related activities 4,830 4,568 6% Chinese Mainland 899 870 3% EnergyAustralia 223 167 34% Apraava Energy 105 79 33% Taiwan Region and Southeast Asia 71 19 274% Other earnings and unallocated items (395) (476) 17% Operating Earnings (before Fair Value Movements) 5,733 5,227 10% Fair value movements (92) (35) Operating Earnings 5,641 5,192 9% Items affecting comparability 356 432 Total Earnings 5,997 5,624 7% Operating earnings by business unit 9 Strong earnings performance led by regulated Hong Kong and improved performances from all regions Continued capital investments and lower interest costs Mainly fair value movements of EnergyAustralia’s forward energy contracts (after tax) Solid Ho-Ping performance offset devex for advancing regional growth platform Nuclear reliability and renewable additions offset sector-wide supply-demand (curtailment and tariff) headwinds Jhajjar sold; non-carbon platform scaling; earnings lifted by one-off items Retail uplift & strong fleet commercial availability offset softer market conditions & transformation costs Corporate cost optimisation Mainly gain on divestment of Jhajjar Power Station Details on slide 27
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4,568 - 176 147 ( 61 ) 4,830 - 2,000 4,000 6,000 1H2025 FX Return on higher fixed assets Lower interest costs Others * 1H2026 Hong Kong Operating Earnings (HK$M) Continued capital investments and lower interest costs * Includes non-SoC items and CLPe operations in Hong Kong 6% • Operating earnings: Strong contribution driven by higher average net fixed assets and lower interest costs through proactive refinancing at lower market rates. • SoC capex (HK$4.8b): Generation (HK$1.1b); T&D/services (HK$3.7b) including Northern Metropolis power infrastructure, data centre connections, network infrastructure upgrades, completion of Clean Energy Transmission System upgrade, and grid modernisation. • Local electricity sales: Up 3.6% led by stronger economic demand. Demand from data centres (+11.8%) and transport electrification continue to accelerate. • 2024-2028 HK$52.9b Development Plan execution: Continued investments in infrastructure to support growth, supply reliability and grid resilience, with near- term delivery of data centres and Northern Metropolis build-out. • Supporting Hong Kong’s zero carbon target: Working with government to increase zero carbon energy imports, with government progressing Tseung Kwan O Area 132 reclamation tender for the receiving terminal. • Fuel cost and tariff management: Diversified fuel sourcing continues to underpin supply security. Average Net Tariff up 4% (Jan-Aug 2026) on higher international fuel costs, with global fuel price volatility expected to continue to impact electricity tariffs. Customer affordability supported by a three-month special fuel rebate of ~HK$80-90m for eligible residential customers from Aug 2026. • HK Govt’s First Five-Year Plan (2026-2030): CLP recommended electricity as “strategic economic infrastructure” underpinning Hong Kong’s long-term growth, decarbonisation and energy security priorities. 10 Performance Outlook
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Nuclear reliability and renewable additions offset sector-wide supply-demand (curtailment and tariff) headwinds • Transformation programme: Initiatives to strengthen operational and financial performance and support sustainable growth: (1) centralised offices in Beijing and Qianhai; (2) cost optimisation; (3) self-funded capital structure anchored on Panda bond issuance and Clean Energy Fund under development. • Nuclear: Maintain safe operation and strong generation with Daya Bay delivering reliable earnings. Continued tariff pressure for Yangjiang. • Renewables: Disciplined value over volume additions expected to add to earnings – focus on national load centres, with revenue quality underpinned by fixed Mechanism Tariff, corporate PPAs and GECs. Supply-demand imbalance remains a near-term headwind on curtailment and tariffs; policy support and storage scale-up expected to improve system integration. • Thermal: Reduced generation and lower tariffs on continued market competition, partly offset by stable coal prices. 11 870 51 10 7 ( 21 ) ( 18 ) (28) (184) 320 791 (300) - 300 600 900 1,200 1H2025 FX Nuclear Renewables Thermal Others * 1H2026 Operating Earnings (HK$M) 899 Nuclear Renewables Thermal Corporate expenses & others 3% * Includes corporate expenses and CLPe operations in the Greater Bay Area Performance Outlook • Nuclear: Daya Bay and Yangjiang delivered strong generation and reliable operations. Earnings were impacted by lower tariff at Yangjiang. • Renewables: Contributions from 5 new projects (2 commissioned, 3 in pre- commissioning) offset increased curtailment (15%) and lower average tariffs reflecting sector-wide supply-demand imbalance, as well as lower resources. • Thermal: Stable generation at lower tariffs reflecting market competition, partially offset by lower fuel prices. • Projects in execution: 0.9GW of renewables in execution including largest wind to date (0.3G W, Shandong). Chinese Mainland
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EnergyAustralia 232 (808) 2,647 (1,848) 167 19 (255) 392 ( 51 ) ( 90 ) ( 4 ) 45 223 (200) - 200 400 1H2025 FX Energy EBITDAF (Wholesale) Customer EBITDAF (Retail) Enterprise EBITDAF (Corporate) D&A Net finance costs Taxation 1H2026 Operating Earnings (HK$M) 22% Energy EBITDAF Customer EBITDAF Enterprise EBITDAF Interest, tax, depreciation and amortisation Performance Outlook 12 Retail uplift and strong fleet commercial availability offset softer market conditions and transformation costs • Energy: Strong fleet commercial availability across Yallourn, Mt Piper and gas portfolio were offset by softer pricing, lower price volatility, higher fuel cost and non- repeat of Lake Lyell gain in 2025. • Customer: Improved retail margins from re-pricing and recontracting in line with 2025-26 market and default offers combined with lower bad and doubtful debts more than offsetting softer customer demand. • Enterprise: Continued investment in multi-year enterprise optimisation including partnership with Tata Consultancy Services and customer transformation programme delivering benefits and savings progressively over the years. • D&A: Capitalisation of Yallourn and Mt Piper maintenance works. • Flexible capacity in execution: 0.7GW BESS (Wooreen, Hallett, Mt Piper) and 0.3GW pumped hydro (Kidston). • Energy: Wholesale prices and volatility have softened materially over the past 6 months reflecting increasing renewable and storage penetration and warmer winter, with average NSW/VIC FY27 forward electricity and cap pricing down 16% and 40% respectively. Fleet reliability and flexibility remain key drivers of earnings resilience and value capture across market conditions. • Customer: Retail electricity tariffs will reduce following 2026-27 DMO/VDO and regulatory reforms towards dynamic pricing. Focus on cost efficiency, improving customer outcomes, and advancing customer platform modernisation. • Transformation: Enterprise-wide transformation to deliver a structurally lower operating cost base. • Enabling the energy transition: Advance self-funded portfolio of high-quality flexible capacity projects, supported by disciplined capital allocation and strategic partnerships.
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(7)17 19 13 74 (11) (50) - 50 100 150 79 ( 6 ) ( 52 ) ( 10 ) 84 ( 1 ) 11 105 - 50 100 150 200 1H2025 FX Thermal Renewables Transmission AMI Group adjustment & corporate expenses 1H2026 • Thermal: Planned overhaul of Jhajjar in March, and absence of any contribution from April 2026 following its divestment. • Renewables: Lower wind resources and generation. • Transmission: Solid operations from 2 operating assets. KMTL one-off impairment in 1H25 (-HK$83m) not repeated. • Advanced Metering Infrastructure (AMI): Lower than planned revenue realisation due to delayed project execution. • Group adjustments and corporate expenses: Interest income on delayed payment relating to the resolution of Paguthan dispute. • Non-carbon projects in execution: Equivalent of 2GW in execution: 4 renewable energy (including largest solar (0.3GW)), 3 transmission and 9 AMI projects (~3.7m meters installed to date and 6m meters to be deployed across seven states). • Zero carbon portfolio earnings mix: Growing diversified non-carbon platform underpinned by stable, long-dated, contracted cashflows: - Renewables: Near-term performance subject to monsoon-driven seasonality. - Transmission: Extending regulated asset base with two new project awards (~800 MW equivalent, ~HK$4.5b). - AMI: Emerging earnings stream as installed base grows. - Portfolio breadth: Evaluating opportunities in commercial & industrial solutions and battery storage. 13 Apraava Energy Group adjustments & corporate expenses Operating Earnings (HK$M) Jhajjar sold; non-carbon platform scaling; earnings lifted by one-off items Renewables Thermal AMI Group adjustments Corporate expenses Transmission 41% Performance Outlook
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19 - 93 - ( 41 ) 71 (54) 4 121 (100) (50) - 50 100 150 1H2025 FX Thermal Solar Corporate expenses 1H2026 Taiwan Region and Southeast AsiaOperating Earnings (HK$M) • Thermal: Higher contribution from Ho-Ping driven by favourable coal cost recovery and higher generation. • Solar: Lopburi delivered steady output and stable operations in line with 2025. • Corporate expenses: Higher development and operating expenses in line with execution of growth strategy in the region. • Thermal: Increasing coal costs expected to normalise Ho-Ping’s coal margin benefit in 2H26. Evaluating options for extension of PPA (2027 expiry) to deliver reliable returns. • Renewables: Continue to maintain reliable plant operations for Lopburi. 14 Solid Ho-Ping performance offset higher devex for advancing regional growth platform 274% Thermal Corporate expenses Solar Performance Outlook
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(5.8) EBITDAF 13.6 7.8 1.0 8.8 1H2026 Proceeds from divestment Free cash flow (deducting maint. capex) Recurring EBITDAF Others 4.8 4.9 5.1 5.3 1.9 1.6 11.8 11.8 1H2025 1H2026 Growth capex and others SoC capex Dividend payments 7.1 EBITDAF 12.4 (5.3) 7.1 1H2025 Cash inflows and outflows 15 Increase in free cash flow: • Higher EBITDAF from higher contributions across the portfolio. Proceeds from divestment: • Jhajjar Power Station divestment proceeds received through dividends from Apraava Energy: HK$1.0 billion. Cash outflows of HK$11.8b (1H2025: HK$11.8b) Cash inflows of HK$8.8b (1H2025: HK$7.1b) Capital investment (excl. maintenance capex) of HK$7.0 billion: • SoC capex: HK$5.3 billion. • Growth capex & others : HK$1.6 billion. Mainly for RE projects on the Chinese Mainland. Dividend payments of HK$4.9 billion. HK$ billion HK$ billion Strong free cash flow to support growth and dividends 1. Others mainly consist of working capital movements, interest & tax payments and maintenance capex. 1
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50%50% HK$62.2billion Financial structure and liquidity Net Debt Leverage Ratios Liquidity Position Debt Maturity Debt Composition HK$4.4billion Undrawn committed facilities Bank balances HK$15.1billion Credit Ratings S&P Moody’s CLP Holdings A Stable A2 Stable CLP Power A+ Stable A1 Stable CAPCO AA- Stable A1 Stable Sound balance sheet and low risk profile (31 Dec 2025: HK$57.9b) (31 Dec 2025: HK$23.2b) (31 Dec 2025: HK$3.9b) 34.0% (31 Dec 2025: 33.0%) Net Debt / Total Capital 34.0% Within 1 year 1-2 years 2-5 years Beyond 5 years FFO / Debt – FY20251 1. FFO to debt as disclosed in credit rating report of CLP Holdings, per calculation methodology adopted by S&P Global. Floating rate Fixed rate 16 Total debt: HK$66.6b Total debt: HK$66.6b 18% 35%25% 22%
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Strategy and Roadmap 17 CLP Power has completed its upgrade of the Clean Energy Transmission System (CETS) in 2026.
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2024-28 Development Plan 72% 25% 3% Transmission and distribution Generation Customer and corporate services development HK$52.9b 18 Completed / achieved to date Planned for the D-Plan period Strategic growth plan Hong Kong – foundation for growth and long-term stability Maintaining 99.999% world-class reliability with infrastructure upgrades and grid resilience. AI-powered grid monitoring and optimisation. Around 18 data centre substations planned to be commissioned during the current D-Plan period, including Sandy Ridge Data Facility Cluster. Maintaining world-class reliability Continuing decarbonisation Completed the installation of over 2.8 million smart meters. Building a resilient smart city Powering Hong Kong’s economic growth & new industries Meeting needs of new development areas & housing growth Low carbon transportation Energy efficiency Black start facility at Black Point Power Station. Hydrogen pilot project. Completion of Clean Energy Transmission System (CETS) upgrade for future zero carbon energy imports. Enhanced digital customer platform for usage management and energy efficiency promotion. Demand response programme peak demand reduction of 249MW (residential customers). Regulated stability Long-term infrastructure assets Operational excellence as an enabler Visible demand load and capex growth CLP advocates positioning electricity as a ‘strategic economic infrastructure’ in Hong Kong’s Five-Year Plan Energised 8 data centre substations in 2024-2026 (compared to 3 in 2019-2023 D-Plan cycle). Development of the Northern Metropolis. Supporting government policy and powering substantial increase in public housing production. Launched EV Time of Use Tariff. Partnering with CNOOC for LNG bunkering. EV penetration at 27% for private vehicles (1H25: 20%). First full electric high-speed EV charging station converted from a petrol filling station site in operations.
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19 Strategic growth plan Chinese Mainland renewable energy 1. Includes projects that have achieved Final Investment Decision and includes projects currently under construction and project s to commence construction in the next 6 months. 2. Equity return on a leveraged and project basis. All GW figures reflect CLP's equity ownership stake in the gross installed capacity of projects. Clear policy mandates (greenhouse emissions pledge and 15th 5-Year Plan) and rising energy demand for renewable energy growth. Transformation initiatives to strengthen operational and cost efficiency, enhance returns, and drive sustainable growth. Value over volume at a measured pace: • Minimum rate of return – low double-digit IRR%2. • Focusing on geographic load centres. • Securing long-term fixed tariffs – Mechanism Tariff contracts, Corporate PPAs, GECs. Self-funding growth platform with low-cost Panda Bonds and Clean Energy Fund expected in 2H26. Dec-25 Jun-26 Dec-25 Jun-26 0.1 BESS 0.2 0.6 Solar 0.6 1.2 Wind 1.4 0.5 Hydro 0.5 2030 Target: ~5GW renewables In operation (GW) In execution 1 (GW) Pipeline Dec-25 Jun-26 0.0 BESS - 0.4 Solar 0.2 1.0 Wind 0.6 0.9 GW1.4 GW ~1.2 GW ~1.5 GW 2.5 GW 2.6 GW Project highlights in 1H2026: Pipeline actively managed for value: - Mazhang (100MW) pending market development in Guangdong - Shenzhou (200MW) construction rephased to 1H27; mechanism tariff secured Pre-commissioning: - Guanxian I wind (125MW) - Juancheng I wind (300MW) - Hepu solar (139MW) Commissioned: - Sandu II wind (100MW) with BESS (10MW) - Xundian III wind (50MW) with BESS (5MW)
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20 Strategic growth plan Apraava Energy non-carbon investments 1. Includes projects that have achieved Final Investment Decision and commenced construction or have been awarded/contracted in FY23, FY24 and FY25. No new bids were won in 1H26. 2. Equity return on a leveraged and project basis. All GW figures reflect the gross installed capacity of projects. Clear national long-term roadmap set by ambitious national goals: 500GW non-carbon capacity by 2030. Growth funded through disciplined capital stack – self-generated cash and recycled Jhajjar divestment proceeds reinvested as need be to support pipeline. Scaling non-carbon platform. Projects underpinned by long-term PPAs/agreements with government linked entities. Minimum rate of return – Low-to-mid double-digit IRR%2. Dec-25 Jun-26 Dec-25 Jun-26 0.3 Tx 0.4 0.3 Solar 0.3 1.2 Wind 1.2 2030 Target: ~9GW non-carbon In operation (GW) In execution 1 (GW) Pipeline Dec-25 Jun-26 0.7 AMI 0.7 0.5 Tx 0.5 0.6 Solar 0.6 0.3 Wind 0.3 2.0 GW2.1 GW ~5 GW ~4 GW 1.8 GW 1.8 GW ~0.8 GW * Project highlights in 1H2026: * New project wins in July 2026: Awarded 2 transmission projects (~800MW equivalent, HK$4.5b) in Andhra Pradesh and Maharashtra. In execution: - 300MW wind (Karnataka) - Transmission: Fatehgarh III, Karera and Rajasthan IV - Solar: NHPC Bhanipura I and NTPC Bhanipura II Commissioned: Fatehgarh IV transmission (57MW equiv.)
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21 Strategic growth plan 1. Includes projects that have achieved Final Investment Decision and projects currently under construction. 2. Orana achieved commercial operations in June 2026, with tolling agreement commencing in July 2026. 3. Equity return on a leveraged and project basis. All GW figures reflect the gross installed capacity of projects, except for contracted BESS which represent contracted capaci ty. Critical investments to capture value in growing volatility, supporting renewable firming and enhancing grid resilience. Executable pipeline of high-quality opportunities. Execution underpinned by repeated success winning Federal Capacity Incentive Scheme. Strategic partnerships for capital efficiency. Minimum rate of return – High single-digit IRR%3. Transformation supporting a more efficient and competitive business. EnergyAustralia flexible capacity Dec-25 Jun-26 0.4 GW 2 2030 Ambition: ~3GW flexible capacity Pipeline Dec-25 Jun-26 0.2 BESS (contracted) 0.4 Dec-25 Jun-26 0.3 Pumped Storage 0.3 0.2 BESS (contracted) 0.0 0.7 BESS 0.7 In operation (GW) In execution 1 (GW) 0.9 GW1.1 GW ~1.8 GW ~1.8 GW 0.2 GW Project highlights in 1H2026: Progressing: - Mt Piper BESS (250MW/1,000MWh): progressing towards Final Investment. Decision, subject to government approval. - Lake Lyell pumped hydro energy storage (385MW/3,170MWh): Environmental Impact Statement concluded and final government determination expected in 2H26. In construction: - Hallett BESS (50MW/245MWh) - Wooreen BESS (350MW/1,400MWh) Commissioned: Orana BESS (200MW/800MWh) and Ausgrid community battery.
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22 Strategic growth plan Repurposing Yallourn for future opportunities The Yallourn Energy Security Precinct — a strategic advantage: 5,500 hectares of freehold land (≈ Melbourne CBD and inner suburbs combined), existing high-voltage transmission (220kV & 500kV), water access and a skilled local workforce — repurposing an existing energy site. Up to 300MW of gas-fired capacity near the existing Yallourn 'W' site, providing dispatchable generation for regional power grid. Gas powered generation Flexible capacity & firming Up to 2.7GW of new battery energy storage systems to support reliability and capture value from growing renewable penetration. Initial data-centre configuration of up to two 1GW facilities, with potential to scale as demand grows. Data centres and new-economy demand These are early-stage opportunities subject to further assessment, commercial evaluation, and approvals.
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01 Earnings resilience Regulated Hong Kong anchoring a diversified Asia-Pacific portfolio, with regional platforms building towards sustained earnings growth. 02 Portfolio value creation and capital efficient growth Active asset rotation, portfolio management and disciplined capital deployment to enable the infrastructure of the Asia-Pacific energy transition. 03 Operational excellence and transformation- driven Group-wide cost optimisation, digitalisation and multi-year transformation programmes delivering recurring benefits. 04 Shareholder returns Consistent dividend track record underpinned by earnings resilience, balance sheet strength and disciplined capital allocation. Anchored in Hong Kong. Growing across Asia-Pacific’s energy transition Our investment proposition 23
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CLP Power’s Smart Meter Replacement Programme – Customers can now manage their electricity consumption more effectively by using the CLP One mobile app to check their hourly electricity consumption anytime, anywhere, and set personalised usage alerts. 24 Questions and Answers
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25 Celebrating 30 years of partnership between CLP and CNOOC in natural gas supply for Hong Kong – CLP management visited CNOOC’s natural gas pipeline facilities at Zhuhai Gaolan Terminal, exchanging views on business cooperation. Appendices
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1H2026 1H2025 Change Revenue (HK$M) 42,856 42,854 - Operating Earnings (before Fair Value Movements) (HK$M) 5,733 5,227 +10% Operating Earnings (HK$M) 5,641 5,192 +9% Total Earnings (HK$M) 5,997 5,624 +7% Operating Earnings per share (HK$) 2.23 2.06 +9% Total Earnings per share (HK$) 2.37 2.23 +7% Dividends per share (HK$) 1.26 1.26 - First interim dividend Second interim dividend 0.63 0.63 0.63 0.63 - - Capital Investments (HK$M) - Cash basis 7,319 8,213 -11% SoC Capex Other Capital Investments 5,340 1,979 5,081 3,132 +5% -37% Leverage 30 Jun 2026 31 Dec 2025 Net Debt (HK$M) 62,209 57,901 +7% Net Debt/Total Capital (%) 34.0% 33.0% +1.0pts Financial highlights 26
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Items affecting comparability HK$M 1H2026 1H2025 Hong Kong – Profit from sale of properties 55 74 Hong Kong – Revaluation loss on investment property (17) (37) Apraava Energy – Gain on divestment of Jhajjar 318 - EnergyAustralia – Realisation of Wooreen BESS - 395 Items affecting comparability 356 432 27 Hong Kong Profit from sale of properties Sale of properties relating to Argyle Street. Hong Kong Revaluation loss on investment property Retail portion of the Laguna Mall. Apraava Energy Gain on divestment of Jhajjar Gain on divestment of Jhajjar Power Station. EnergyAustralia Realisation of Wooreen BESS Realisation of Wooreen energy storage system post partnership with Banpu Energy Australia.
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HK$M 1H2026 1H2025 Change Recurring EBITDAF 13,575 12,404 9% Less: Depreciation and amortisation (5,163) (4,721) Net finance costs (815) (798) Income tax expense (1,332) (1,150) Distribution to perpetual capital securities holders (107) (93) Non-controlling interests (425) (415) Operating earnings before fair value movements 5,733 5,227 10% Fair value movements (92) (35) Operating Earnings 5,641 5,192 9% Reconciliation of EBITDAF and Operating Earnings Depreciation and amortisation • Hong Kong: Higher depreciation mainly reflected commissioning of T&D assets. • Chinese Mainland: Higher depreciation followed commissioning of renewable energy assets. • Australia: Higher depreciation mainly due to timing of capitalisation of outage costs at Yallourn and Mt Piper Power Stations. Net finance costs • Net finance costs increased mainly due to higher net finance costs in Australia and Chinese Mainland, partially offset by lower net finance costs in Hong Kong. Income tax expense • Higher taxation in line with higher earnings. Distribution to perpetual capital securities holders • Issued by CLP Power. Non-controlling interests • CSG’s 30% share of CAPCO. Fair value movements • Unfavourable fair value movements of EnergyAustralia’s forward energy contracts (after tax). 28
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HK$M Hong Kong energy and related activities Chinese Mainland EnergyAustralia Apraava Energy Taiwan Region and Southeast Asia Other earnings & unallocated items Group total 2026 Interim Recurring EBITDAF 10,134 1,505 2,071 155 72 (362) 13,575 Depreciation and amortisation (3,189) (358) (1,575) - - (41) (5,163) Net finance (costs)/income 1 (522) (92) (222) 6 - 15 (815) Income tax expense (1,064) (153) (51) (56) (1) (7) (1,332) Distributions to perpetual capital securities holders (107) - - - - - (107) Non-controlling interests (422) (3) - - - - (425) Operating Earnings before fair value movements (as per this presentation pack) 4,830 899 223 105 71 (395) 5,733 Fair value movements 2 (2) - (90) - - - (92) Operating Earnings 4,828 899 133 105 71 (395) 5,641 Reallocation of PSDC & HK Branch Line (94) 94 - - - - - Reallocation of other earnings (5) - - - - 5 - Operating Earnings (as per Segment Information in Interim Report) 4,729 993 133 105 71 (390) 5,641 2025 Interim Recurring EBITDAF 9,586 1,389 1,791 78 20 (460) 12,404 Depreciation and amortisation (3,034) (301) (1,340) - - (46) (4,721) Net finance (costs)/income 1 (560) (76) (197) 1 - 34 (798) Income tax expense (919) (139) (87) - (1) (4) (1,150) Distributions to perpetual capital securities holders (93) - - - - - (93) Non-controlling interests (412) (3) - - - - (415) Operating Earnings before fair value movements (as per this presentation pack) 4,568 870 167 79 19 (476) 5,227 Fair value movements 2 23 - (58) - - - (35) Operating Earnings 4,591 870 109 79 19 (476) 5,192 Reallocation of PSDC & HK Branch Line (99) 99 - - - - - Reallocation of other earnings (45) - - - - 45 - Operating Earnings (as per Segment Information in Interim Report) 4,447 969 109 79 19 (431) 5,192 1. Including net fair value loss/(gain) on debt related derivative financial instruments, and other net exchange loss/(gain) on financing activities. 2. Including net fair value loss/(gain) on non-debt derivative financial instruments relating to transactions not qualified for hedge accounting and ineffectiveness and discontinuation of cash flow hedges. Reconciliation of EBITDAF and Operating Earnings by business units 29
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Cash flow and financial structure 30 1. Excluding items affecting comparability. 2. PCS holders refers to perpetual capital securities holders. 3. Capital investments include i) capital expenditure in fixed assets, right-of-use assets, investment property, intangible assets; ii) changes in investments in and advances to joint ventures and associates; and iii) acquisitions of asset / business. 4. Capital expenditure on fixed assets and right-of-use assets are analysed into: i) SoC capex - capital expenditure related to the SoC business; ii) Growth capex - capital expenditure (other than SoC capex) spent on expansion of business; and (iii) Maintenance capex - capital expenditure other than the above. 5. Others include capital investments on intangible assets and investments in / advance to joint ventures. Free Cash Flow • Hong Kong: Modestly lower operating cash inflow from SoC operations (-HK$0.2 billion) reflecting unfavourable working capital movements, partially offset by higher EBITDAF contributions. • Chinese Mainland: Resilient cash generation, supported by robust dividends from nuclear associates and higher collection of national subsidies. • Australia: stronger free cash flow, reflecting lower maintenance capex at Yallourn and Mount Piper power stations. Proceeds from divestment of Jhajjar Power Station received through dividends from Apraava Energy. Capital Investments • SoC capex mainly related to the capital works for the generation fleet, network infrastructure enhancements and development. • Growth capex primarily deployed into renewable energy projects on the Chinese Mainland. • Maintenance capex mainly represented improvement works and outages at Yallourn and Mount Piper power stations in Australia.
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0.63 0.63 0.63 0.63 0.63 0.63 0.63 0.63 0.63 0.63 0.63 0.63 0.63 0.63 0.63 0.63 0.63 0.63 0.63 0.63 1.21 1.21 1.21 1.21 1.26 1.31 3.10 3.10 3.10 3.10 3.15 3.20 - 0.50 1.00 1.50 2.00 2.50 3.00 3.50 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 HK$ Q1 Q2 Q3 Final / Q4 Institutional Investors 35% 30% 35% * Adjusted for share capital change throughout the period and change of accounting year in 1999. A history of returning cash to shareholders Dividends 31 Retail investors Interests associated with Kadoorie Family CLP Ordinary Dividend Per Share* (1987 – 1H2026) and Shareholding by Category (as at 31 December 2025) For more information As at 31 Dec 2025
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HK$M 30 Jun 2026 31 Dec 2025 HONG KONG Total borrowings of CLPH, CLPP , CAPCO & PSDC 52,294 50,266 Minus: Bank balances and liquid funds (407) (1,892) Net debt – Hong Kong 51,887 48,374 OUTSIDE HONG KONG Total borrowings of subsidiaries (non-recourse to CLPH) 14,349 11,563 Minus: Bank balance and liquid funds (4,027) (2,036) Net debt – Outside Hong Kong 10,322 9,527 CONSOLIDATED Consolidated total borrowings 66,643 61,829 Minus: Consolidated bank balance and liquid funds (4,434) (3,928) Net Debt – Consolidated 62,209 57,901 Total Debt/Total Capital 35.6% 34.5% Net Debt/Total Capital 34.0% 33.0% Financial obligations at a glance 32 Increase in net debt at 30 Jun 2026 mainly due to capital investments and dividends paid, partially offset by cash generated from operations and one-off proceeds from Jhajjar’s divestment in 1H2026.
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Credit ratings CLP Holdings CLP Power CAPCO EnergyAustralia S&P Moody’s S&P Moody’s S&P Moody’s Moody’s Long-term Rating Foreign Currency A A2 A+ A1 AA- A1 Baa2 Outlook Stable Stable Stable Stable Stable Stable Positive Local Currency A A2 A+ A1 AA- A1 Baa2 Outlook Stable Stable Stable Stable Stable Stable Positive Short-term Rating Foreign Currency A-1 P-1 A-1 P-1 A-1+ P-1 - Local Currency A-1 P-1 A-1 P-1 A-1+ P-1 - S&P re-affirmed the A, A+ and AA- credit ratings of CLP Holdings, CLP Power and CAPCO respectively in May 2026 with stable outlooks. Moody’s re-affirmed the Baa2 credit rating of EnergyAustralia with positive outlook in July 2026. 33
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For more information on CLP Climate Action Finance Framework Highlights of financing activities CLP Holdings: Ample liquidity in the Group as of 30 June 2026 • The Group maintained adequate liquidity with undrawn committed loan facilities of HK$15.1 billion and bank balances of HK$4.4 billion. • CLP Holdings had HK$2.8 billion of liquidity at the end of June. Scheme of Control: Cost effective refinancing • CLP Power arranged a total of HK$1.7 billion medium term loan facilities to refinance existing borrowings and support business requirements. • CAPCO secured HK$6.5 billion loan facilities and HK$640 million in three-year private placement bond under the CLP’s Climate Action Finance Framework to refinance existing borrowings at competitive margins amid strong liquidity in the banking system. The loan facilities included HK$2.5 billion in emission reduction-linked loan facilities and HK$3.7 billion in energy transition loan facilities. • To mitigate exchange rate risk, all foreign currency financings in the Scheme of Control business were swapped back to Hong Kong dollars. • CLPP and CAPCO maintained Medium Term Note programmes with issuance limits of US$4.5 billion and US$2.0 billion respectively. As at 30 June, outstanding notes issued under these programmes amounted to approximately US$3.2 billion (HK$25 billion) for CLP Power and US$1.6 billion (HK$12.2 billion) for CAPCO. Chinese Mainland: Major financing to support business growth • CLP China issued its inaugural RMB1.0 billion (HK$1.2 billion) three-year Panda bond in the China interbank bond market to support renewable energy development, competitively priced at 1.85% p.a., with RMB1.3 billion of demand at final price. EnergyAustralia: Adequate liquidity and timely refinancing • Maintained adequate liquidity to support its business operations and retained sufficient financial headroom to manage potential contingencies. • Secured an A$600 million corporate syndicated facility to refinance its existing A$450 million syndicated loan facility following strong bank demand. 34
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52%48% 50% 50% Fixed rate Floating rate Jun 2026 Dec 2025 1. Loan balance represents bank loans and other borrowings. 2. The maturity of revolving loans is in accordance with the maturity dates of the respective facilities instead of the current loan drawdown tenors. 3. For floating rate borrowings, if assuming 1% increase in interest rate and based on outstanding debt balance as of 30 June 20 26, the additional interest payment is around HK$335 million per annum. CLP continues to obtain debt (re)financing at very cost-effective interest rates. Some representative examples in 1H2026 are hig hlighted on the previous slide (“Highlights of financing activities”). Proportion of Debt on Fixed and Floating RateLoan Balance 1 – Type Loan Balance 1 – Maturity 2 Loan balances by type and maturity 35 3% 2% 60% 57% 32% 40% 5% 1% 0 10,000 20,000 30,000 40,000 50,000 60,000 70,000 Dec 2025 Jun 2026 HK$MHK$MHK$M 24% 18% 31% 35% 29% 25% 16% 22% 0 10,000 20,000 30,000 40,000 50,000 60,000 70,000 Dec 2025 Jun 2026 Within 1 year 1 - 2 years 2 - 5 years Beyond 5 years HK$M Floating rate (3) Fixed rate
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Generation Transmission Distribution Retail Hong Kong – Growing business scale 9,464MW * generation portfolio > 17,500 km of transmission and high voltage distribution lines 262 primary and > 16,000 secondary substations 17,038GWh sold and 2.922 million customer accounts During 1H2026: • Local electricity sales increased 3.6% to 17,038GWh as compared with 1H2025. • No. of customer accounts increased by 59k to 2,922k as compared with June 2025. • Major infrastructure projects ongoing: • Northern Metropolis power infrastructure • Data centres connection • Upgrade of Clean Energy Transmission System (CETS) • Network infrastructure upgrades and grid modernisation. • Over 190 km of new transmission and high voltage distribution lines & 110 new substations added. We generate, transmit and distribute electricity to over 80% of Hong Kong’s population supplying Kowloon, the New Territories and Lantau Island. * On an equity plus long-term capacity and energy purchase basis. 36
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0 2,000 4,000 6,000 8,000 10,000 12,000 14,000 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1H 2026 Total of CLP 6,983 6,887 6,603 7,004 7,569 7,743 7,576 9,316 10,603 10,197 9,976 9,783 4,436 CAPCO - JV partner 817 743 689 1,064 1,353 1,354 1,306 1,906 1,970 1,473 842 776 326 CAPCO - CLP's share 1,368 1,735 1,607 2,481 3,158 3,159 3,048 4,447 4,596 3,438 1,966 1,812 759 CLP Power 5,615 5,152 4,996 4,523 4,411 4,584 4,528 4,869 6,007 6,759 8,010 7,971 3,677 HK$M * Including CAPCO’s 70% share of fixed asset additions in Hong Kong LNG Terminal Limited. Hong Kong – Electricity sales, earnings and capex HK$M 1H2026 1H2025 Change CLP Power 3,677 3,307 11.2% CAPCO * 1,085 1,222 11.2% Total Capex 4,762 4,529 5.1% Capital expenditure (Accrual basis)Electricity sales Operating earnings (before Fair Value Movements) for Hong Kong GWh 1H2026 1H2025 Change Proportion Residential 4,300 4,222 1.8% 25% Commercial 6,860 6,560 4.6% 40% Infrastructure & Public Services 5,139 4,940 4.0% 30% Manufacturing 739 731 1.1% 5% Total Local Sales 17,038 16,453 3.6% 100% HK$M 1H2026 1H2025 Change Hong Kong energy business 4,792 4,530 5.8% PSDC and Hong Kong Branch Line 94 99 5.1% CLPe (56) (61) 8.2% Hong Kong energy & related activities 4,830 4,568 5.7% Note: Data centres represent 7.1% of load in 1H2026 (1H2025: 6.6%), +11.8%yoy. TSF and FCA balances HK$M Jun 2026 Dec 2025 Tariff Stabilisation Fund (TSF) 2,756 2,786 Fuel Clause Account (FCA) 1,055 1,043 Capex approved under the 2024-28 DP from Jan 2024 to Dec 2028: HK$52.9b. Capex incurred in 2024-28 DP from Jan 2024 to Jun 2026: HK$26.1b. 37
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0.0 1.0 2.0 3.0 4.0 CLP Power Singapore Sydney New York London Remarks: Comparison based on monthly domestic consumption of 275kWh. Tariff and exchange rate in January 2026. CLP Power +16% New York +20% Singapore +31% Sydney +34% London +64% Remarks: (1) *2023-2025 average for CLP Power was 1.8 minutes; Taking out the impact due to Major Event Day (such as Typhoon Saola in 2023, Typhoons Wipha & Ragasa in 2025), the three-year average was 1.1 minutes. (2) 2022-2024 average for all other cities. (3) There are no overhead lines in Singapore. 0.2 11 18 18 0 10 20 30 1.8* 1.1* -100% -50% 0% 50% 100% 1990 1995 2000 2005 2010 2015 2020 2025 NOx Emission SO2 Emission RSP EmissionSO2 EmissionNOx Emission Hong Kong – Tariff, reliability, fuel prices and environmental improvement Environmental improvement Fuel prices over the last 2 years Residential tariff % increase from Jan 2021 to Jan 2026 Remarks: Comparison based on monthly domestic consumption of 275kWh. Unplanned customer minutes lost per year High reliability (FY2025) More Reliable Less Reliable Low tariff - Over 94% in Emissions + 91% in Electricity Sales HK$/kWh 38 76% 81% 77% 50% 100% 150% Dec-23 Mar-24 Jun-24 Sept-24 Dec-24 Mar-25 Jun-25 Sept-25 Dec-25 Coal Market Price. US$/mt Brent Crude Oil Price, US$/bbl LNG Market Price, US$/mmbtu Dec-23 = 100% New YorkLondonSingapore CLP Power Sydney (CBD)
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Chinese Mainland Operating / Total Earnings HK$M RMB M 1H2026 1H2025 1H2026 1H2025 Nuclear 791 761 692 706 - Daya Bay 480 433 420 402 - Yangjiang 311 328 272 304 Renewables 320 295 280 274 - Wind 224 161 196 150 - Solar 53 84 46 78 - Hydro 43 50 38 46 Thermal (28) (7) (24) (6) - Guohua (28) (7) (24) (6) Operating & development expenditure and Others (179) (161) (189) (149) CLPe (5) (18) (4) (17) Total / Operating earnings 899 870 755 808 Chinese Mainland – Financials Outstanding receivables ^ 30 Jun 2026 31 Dec 2025 HK$M 2,767 2,517 RMB M 2,399 2,256 The average foreign exchange rates used to convert Chinese Mainland Segment earnings to Hong Kong dollars are 1.07711 for 1H2025 and 1.14232 for 1H2026. Note that in the variance analysis presented in the body of the presentation, period-on-period variances are adjusted for changes in foreign exchange rates. ^ Relating to the unpaid national subsidies owed to our renewable energy subsidiaries. 39
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56% 44% 40% 60% 47% 53% Fixed Tariff versus Market-Based Tariff （% share of generation） Fixed Tariff 1H2026 2024 33% Mechanism Tariff- Benchmark 14% Mechanism Tariff-Bidding 53% Market- Based Tariff Fixed Tariff versus Market-Based Tariff 1H2026 Fixed Tariff 1. Indicates tariffs for CLP China’s majority-owned wind and solar assets. 2. All tariffs refer to pre-tax tariffs and excluding national subsidies. Chinese Mainland – Renewable energy tariffs 2025 0.0 0.1 0.2 0.3 0.4 2024 2025 1H2026 Wind and Solar Fixed tariff versus Market-Based Tariff （Price） 0.0 0.1 0.2 0.3 0.4 2024 2025 1H2026 Wind Fixed tariff versus Market-Based Tariff （Price） 0.0 0.1 0.2 0.3 0.4 2024 2025 2026 1H Solar Fixed tariff versus Market-Based Tariff (Price) Ave Market-Based Tariff Ave Fixed Tariff Blended RMB/kWh RMB/kWh RMB/kWh 1H2026 40
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EnergyAustralia – Financials HK$M A$M 1H2026 1H2025 1H2026 1H2025 EBITDAF (before items affecting comparability) Customer (Retail) 232 (144) 42 (29) Energy (Wholesale) 2,647 2,618 481 528 Enterprise (Corporate) (808) (683) (147) (138) Total EBITDAF 2,071 1,791 376 361 Depreciation & Amortisation (1,575) (1,340) (286) (270) Net finance costs (222) (197) (41) (40) Income tax expense (51) (87) (9) (17) Operating earnings (before fair value movements) 223 167 40 34 Fair value movements, net of tax (90) (58) (16) (12) Operating earnings 133 109 24 22 Realisation of 50% Wooreen BESS - 395 - 77 Total earnings 133 504 24 99 The average foreign exchange rates used to convert EnergyAustralia earnings to Hong Kong dollars are 4.963 for 1H2025 and 5.501 for 1H2026. Note in the Operating earnings before fair value movements variance analysis presented in the body of the presentation, period-on-period variances are adjusted for changes in foreign exchange rates. EnergyAustralia 41
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42 EnergyAustralia – Wholesale market conditions • The generation mix continued to shift towards renewables in the first half of 2026, with the majority of new capacity coming from wind, solar and battery storage. • Increased storage penetration supported system reliability, reduced intraday price volatility and helped meet demand as aging thermal assets further declined in market share. • The elevated renewable output, particularly over the summer period, contributed to periods of softer wholesale prices. NEM Generational Capacity and Operational Demand Source: Data from AEMO's Electricity Market Management System Increased renewables and storage capacity continues to reshape wholesale market dynamics Market Trends in Physical Supply
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EnergyAustralia – Wholesale market prices Wholesale prices moderating in the near-term amid stronger renewable and storage penetration 43
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40,000 45,000 50,000 55,000 60,000 65,000 70,000 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Range 2022-2026 Avg 2025 2026 (partial) EnergyAustralia – Portfolio flexibility capturing value Flexible assets increasingly critical as negative pricing accelerates • Negative wholesale price events have risen sharply. In Victoria, the frequency of negative spot prices has increased nearly seven times since 2020. • This highlights the value of flexible storage, dispatchable peaking and demand-response capabilities - both in supporting reliability and optimising portfolio returns. Changing patterns of demand • The NEM has progressively shifted toward stronger winter peaks relative to summer. • EnergyAustralia’s diversified generation and storage portfolio is optimally positioned to respond to these dynamics with gas-fired peakers and flexible storage assets providing value across market conditions. 44 Negative Spot Price Trend in Victoria Demand (MW) Stronger realised prices • EnergyAustralia’s assets realised a premium compared to the time-weighted average market price. • While lower intraday volatility was observed in the first half of 2026, EA benefited from its increasingly flexible portfolio when responding to market needs. Premium to Market Price 0% 5% 10% 15% 20% 25% 30% Percentage Occurrence Negative Prices 60% 70% 80% 90% 100% 110% 120% 130% 2023 2024 2025 2026 H1 Shape % Impact Coal (Generation -Weight ed) Total Fleet (Generation -Weight ed) EnergyAustralia’s diversified portfolio is strongly positioned for evolving market dynamics
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Customer Accounts 2.2M Total accounts ↓ 4% Gross Margin $0.2B Gross Margin 21% EnergyAustralia – Customer operations 45 1H2026 1H2025 Electricity (TWh) Gas (PJ) Electricity (TWh) Gas (PJ) Mass Market 3.9 10.9 4.2 12.1 Commercial & Industrial 2.3 0.2 2.1 0.3 Total Sales Volume 6.2 11.1 6.3 12.3 Sales Revenue (A$m) 1,845.3 490.8 1,859.3 494.8 Gross Margin (A$m) 125.6 95.8 84.8 98.8 1. Represents the average accounts of the mass market customer base during the period. Sales Volume and Revenue (000s) 1H2026 1H2025 Electricity Gas Total Electricity Gas Total Mass Market 1,443.7 782.2 2,225.9 1,510.4 815.9 2,326.4 Commercial & Industrial 5.0 0.1 5.1 3.9 0.1 4.0 Total Accounts 1,448.7 782.3 2,231.0 1,514.3 816.1 2,330.4 Weighted Average Accounts 1 1,474.3 790.2 2,264.6 1,531.5 825.5 2,357.0 Customer Account Numbers Dec-24 Dec-24 Dec-24 Dec-24 Jun-25 Jun-25 Jun-25 Jun-25 Dec-25 Dec-25 Dec-25 Dec-25 Jun-26 Jun-26 Jun-26 Jun-26 Dec-24 Dec-24 Dec-24 Dec-24 Jun-25 Jun-25 Jun-25 Jun-25 Dec-25 Dec-25 Dec-25 Dec-25 Jun-26 Jun-26 Jun-26 Jun-26 0.9 1.2 0.1 0.1 0.0 0.2 0.4 0.6 0.8 1.0 1.2 1.4 0% 5% 10% 15% 20% 25% 30% VIC NSW SA QLD Customer Churn and Accounts Jun-26 Jun-26 EA Customer Acct (million)Rest of Market EA Sales Volume 11.1 PJ Gas ↓ 10% Sales Volume 6.2 TWh Electricity ↓ 2% Retail operations impacted by increased competition across the market
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EnergyAustralia – Customer operations +92% Customer Satisfaction improvement since 2019 -67% Ombudsman Complaints reduction since 2015 73% E-billing Adoption compared to 1% in 2015 68k Customer Accounts on hardship support Supporting Customers Through the Energy Transition Strong customer uptake across • AFL/AFLW & Marvel Stadium partnership • 7-Eleven Fuel Discount Programme • EV Night Boost Programme • Disney+ NSW Offering Strong participation in Demand Response programmes • 643K+ household customers • 609 business & large industrial customers • 544MW Demand Response capacity Community Battery Expansion • 40MW additional contracts secured. Growing operational capacity across multiple networks, building a strong pipeline with new network partners. • Strong participation in the community battery ease programme. Targeted programmes & operational improvements are strengthening affordability, support and customer experience 46
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Operating / Total Earnings HK$M Rs M 1H2026 1H2025 1H2026 1H2025 Thermal (Jhajjar) 19 77 227 848 Renewables 74 90 1,245 991 Transmission 13 (77) 156 (848) AMI (7) (6) (84) (66) Group adjustments & corporate expenses 1 6 (5) (287) (55) Operating earnings 105 79 1,257 870 Gain on divestment of Jhajjar 318 - 3,830 - Total earnings 423 79 5,087 870 Apraava Energy Apraava Energy – Financials The average foreign exchange rates used to convert Apraava Energy’s earnings to Hong Kong dollars are 0.09080 for 1H2025 and 0.08355 for 1H2026. Note that in the operating earnings variance analysis presented in the body of the presentation, period-on-period variances are adjusted for changes in foreign exchange rates. 1. Corporate expenses mainly include Paguthan, corporate expenses in India, withholding tax on dividends received, and group operating expenses in Hong Kong. 47
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Operating / Total Earnings HK$M Local Currency (M) 1H2026 1H2025 1H2026 1H2025 Thermal 121 28 NT$487 NT$112 Renewables 4 4 THB18 THB18 Corporate expenses 1 (54) (13) Operating / Total earnings 71 19 Taiwan Region and Southeast Asia Taiwan Region and Southeast Asia – Financials 1. Corporate expenses mainly include development expenses and group operating expenses. The average foreign exchange rates used to convert Taiwan Region and Southeast Asia Segment earnings to Hong Kong dollars are 0.2468 and 0.2337 for 1H2025 and 0.2478 and 0.2425 for 1H2026 for New Taiwan Dollars and Thai Baht respectively. Note that in the variance analysis presented in the body of the presentation, period-on-period variances are adjusted for changes in foreign exchange rates. 48
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Decarbonising our operations 49 Notes: 1. Capital investment includes: i) capital expenditure in fixed assets, right-of-use assets, investment property, intangible assets; ii) changes in investments and advances to joint ventures and associates; and iii) acquisitions of asset/business. Any minor discrepancy in total is due to rounding of percentages. 2. Renewables include wind, solar, hydro and waste-to-energy. 3. Others include oil, other businesses outside of power generation, transmission, distribution and retail, as well as corporate or enterprise items. CLP’s Past and Projected Greenhouse Gas Emissions Intensity CLP’s Past and Projected Absolute Greenhouse Gas Emissions of Electricity Sold and Phase-out Schedule of Fossil Fuel Assets CLP’s total planned capital investment for 2026-2030 by asset type Notes: 1. CLP’s trajectory from 2007 to 2020 was based on the Group’s carbon emissions intensity (kg CO 2/kWh). Since 2021, in line with global best practices, CLP has reported its GHG emissions intensity based on kg CO2e/kWh. 2. CLP’s trajectory from 2017 to 2050 is on an equity plus capacity and energy purchase basis. Notes: 1. The figures are on an equity plus capacity and energy purchase basis. 2. Numbers have been subject to rounding. Any discrepancies between the total shown and the sum of the amounts listed are due to rounding. 2019 (The baseline year of CLP’s science-based targets) 2025 2030 (Projected) Transmission, distribution and retail 44% Renewables 32% Nuclear 1% Coal 5% Gas 7% Energy Storage 2% Energy Services 8% Others 1% Support Hong Kong’s journey to reach carbon neutrality 2020-2050 2028 Retire coal-fired Yallourn Power Station in Australia Before 2035 Increase the share of non-carbon energy in CLP Power’s fuel mix to support Hong Kong’s 2035 carbon reduction target Before 2040 Phase out coal-fired generation across the Group’s portfolio 2050 and beyond Consider engaging in carbon markets if CLP is unable to further reduce its value chain emissions 2017 Capacity and energy purchase integrated into the Group’s targets 2 2007 Launch of Climate Vision 2050 Projected greenhouse gas emissions intensity of electricity sold based on CLP’s Climate Vision 2050 (2024 edition) Actual greenhouse gas emissions intensity Science-based target — well-below 2oC pathway Targets achieved Decarbonisation targets Fangchenggang Power Station Divested in 2022 Black Point Power Station Studying options to convert gas-fired generation before 2050 to the use of hydrogen produced from non-carbon emitting sources and/or deploy carbon capture and storage facilities Jhajjar Power Station Planned divestment in 2026 Yallourn Power Station To be phased out in mid-2028 Mount Piper Power Station To be phased out before 2040 Minority-owned coal-fired assets on the Chinese Mainland and in Taiwan Region To be phased out before 2040 EnergyAustralia’s gas-fired assets Operate the assets for their technical lives to support a net-zero grid EnergyAustralia’s purchase from the National Electricity Market Subject to market developments Purchased energy and assets other than minority-owned coal-fired assets (2030 only) Castle Peak Power Station Three of the eight units have been retired; remaining units to progressively reduce generation, targeting coal phase-out by 2035 Science-based target — 1.5oC pathway
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Asset type: (c) coal-fired (w) wind (ws) waste-to-energy (bs) battery storage (g) gas-fired (s) solar (d) diesel (n) nuclear (h) hydro (p) pumped storage CLP Group – Capabilities along the value chain 1. On an equity plus long-term capacity and energy purchase basis. 2. Presented in ‘Gross / CLP’s share through equity ownership and long-term capacity and energy purchase’. 3. Counting transmission/ distribution lines in operation only. 4. 49% CLP’s equity interest, 70% owned by Castle Peak Power Company Limited. 5. Examples include Energy-as-a-Service, Cooling-as-a-Service, and EV charging, with offerings varying across HONG KONG Generation 1,2 total 7,222 MW * Operational 7,222 MW* Castle Peak – A & B (i) 3,058 / 3,058* (c) Black Point – C & D 3,850 / 3,850* (g) Penny's Bay 300 / 300* (d) Waste-to-Energy 14 / 14* (ws) Transmission & distribution 1,2,3 (km) 17.5k / 17.5k Retail Customers Accounts 2.9 million Smart Meters (connected) 2.9 million Hong Kong Offshore LNG Terminal 4 Others Smart Energy Services 5 ENERGYAUSTRALIA Generation and storage 1,2 total 5,941 MW * Operational 5,716 MW* Yallourn 1,480 / 1,480 (c) Mount Piper 1,430 / 1,430 (c) Hallett 235 / 235 (g) Newport 500 / 500 (g) Jeeralang 445 / 445 (g) Tallawarra A & B 780 / 780 (g) Wind Projects 647 / 407 * (w) Solar Projects # 362 / 294* (s) Battery Projects (iii) 145 / 145 * (bs) Construction Project 225 MW Battery Projects (iv) 400 / 225 (bs) Retail Customers Accounts 2.2 million New South Wales 1.2 million Victoria 0.9 million South Australia 0.1 million Queensland 0.1 million Smart Meters (connected) 0.9 million Smart Energy Services 5 CHINESE MAINLAND Generation and storage 1,2 total 7,910 MW * Operational 7,240 MW * Daya Bay 2,052 / 1,642 * (n) Yangjiang 6,516 / 1,108 (n) Pumped Storage 1,200 / 600 * (p) Guohua 7,470 / 1,248 (c) Hydro Projects 509 / 489 (h) Wind Projects 1,801 / 1,359 (w) Solar Projects # 638 / 638 (s) Battery Projects (ii) 157 / 157 (bs) Construction Project 670 MW Wind Projects 531 / 531 (w) Solar Project 140 / 139 (s) Smart Energy Services 5 TAIWAN REGION Generation 1,2 total 264 MW Operational 264 MW Ho-Ping 1,320 /264 (c) THAILAND Generation 1,2 total 21 MW Operational 21 MW Lopburi Solar # 63 / 21 (s) APRAAVA ENERGY Generation 1,2 total 1,314 MW Operational 1,039 MW Paguthan (v) 655 / 328 (g) Wind Projects 1,173 / 587 (w) Solar Projects # 250 / 125 (s) Construction Project 275 MW Solar Projects # 550 / 275 (s) Transmission 1,2,3 (km) 516 / 258 STPL (intra-state) 240 / 120 KMTL (inter-state) 254 / 127 Fatehgarh IV 22/11 Smart Meters (in execution) 9.7 million 22,672 MW (17,962 Equity MW and 4,711 MW Long Term Purchase) Generation and energy storage capacity 1 Over 17,800 km transmission/ distribution lines 1,2,3 Over 5.1 million customer accounts Over 3.8 million smart meters connected in Hong Kong and Australia; 9.7 million smart meters in execution, with ~ 3.7 million installed in India i. From Apr 2024, Castle Peak Units A1, A2 and A3 (total 1,050 MW) have been retired. ii. Including Guanxian (100 MW), Yixing I & II (14 MW), Huai’an Nanzha (10 MW), Sandu II (10 MW), Xundian II & III (10 MW), Yangzhou Gongdao (8 MW), and Qian’an III (5 MW). iii. Including Riverina & Darlington Point (90 MW), Ballarat (30 MW), Gannawarra (25 MW). iv. Including Wooreen (175 MW) and Hallet (50MW). v. Paguthan is under preservation following the expiry of its PPA in 2018 and is currently not in operation. * including long-term capacity and energy purchase # Solar projects in AC output As at 30 Jun 2026 business units. 50
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CHINESE MAINLAND total 3,156 MW Operational 2,486 MW Wind 1,359 MW Hydro 489 MW Solar 638 MW Weihai I & II Wind 69 / 31 Nanao II & III Wind 60 / 15 Shuangliao I & II Wind 99 / 48 Datong Wind 50 / 24 Huadian Laizhou I Wind 38 / 17 Changling II Wind 50 / 22 Guohua Wind 395 / 194 Qian'an I, II & III Wind 199 / 199 Penglai I Wind 48 / 48 Chongming Wind 48 / 14 Laiwu I, II & III Wind 149 / 149 Xundian I, II & III Wind 150 / 150 Sandu I & II Wind 199 / 199 CLP Laizhou I & II Wind 99 / 99 Bobai Wind 150 / 150 Jiangbian Hydro 330 / 330 Huaiji Hydro 129 / 110 Dali Yang_er Hydro 50 / 50 Jinchang Solar # 85 / 85 Xicun I & II Solar # 84 / 84 Sihong Solar # 93 / 93 Huai’an Solar # 13 / 13 Lingyuan Solar # 17 / 17 Meizhou Solar # 36 / 36 HONG KONG total 14 MW * Operational 14 MW * West New Territories Landfill 14/14 * ENERGYAUSTRALIA total 701 MW * Operational 701 MW * Wind 407 MW * Solar 294 MW * Waterloo Wind 111 / 111 * Cathedral Rocks Wind 62 / 31 Boco Rock Wind 113 / 113 * Bodangora Wind 113 / 68 * Golden Plains Wind 248 / 84 * Gannawarra Solar # 50 / 50 * Ross River Solar # 116 / 93 * Manildra Solar # 46 / 46 * Coleambally Solar # 150 / 105 * CLP Group – Renewable generation portfolio 1,2 Australia India Chinese Mainland Thailand Wind Projects Hydro Projects Solar Projects Waste-to-Energy 1. On an equity plus long-term capacity and energy purchase basis. 2. Presented in ‘Gross / CLP’s share through equity ownership and long-term capacity and energy purchase’. THAILAND total 21 MW Operational 21 MW Lopburi Solar # 63 / 21 APRAAVA ENERGY total 987 MW Operational 712 MW Wind 587 MW Solar 125 MW Khandke Wind 50 / 25 Samana I & II Wind 101 / 50 Saundatti Wind 72 / 36 Theni I & II Wind 97 / 49 Harapanahalli Wind 40 / 20 Andhra Lake Wind 106 / 53 Sipla Wind 50 / 25 Bhakrani Wind 102 / 51 Mahidad Wind 50 / 25 Jath Wind 60 / 30 Tejuva Wind 101 / 50 Chandgarh Wind 92 / 46 Sidhpur Wind 251 / 125 Veltoor Solar # 100 / 50 Gale Solar # 50 / 25 Tornado Solar # 20 / 10 Vikarabad Solar # 30 / 15 Nirmal Solar # 50 / 25 Under Construction 275 MW Solar 275 MW NHPC Bhanipura I Solar # 250 / 125 NTPC Bhanipura II Solar # 300 / 150 CHINESE MAINLAND Operational (cont’d) Yangzhou Gongdao Solar # 74 / 74 Huai’an Nanzha Solar # 96 / 96 Yixing I & II Solar # 140 / 140 Under Construction 670 MW Wind 531 MW Solar 139 MW Juancheng I Wind 300 / 300 Juancheng II Wind 106 / 106 Guanxian I Wind 125 / 125 Hepu Solar # 140 / 139 As at 30 Jun 2026 * including long-term capacity and energy purchase # Solar projects in AC output 4,878 MW (4,204 Equity MW and 674 MW Long Term Purchase) 21.5% of CLP total generation and storage portfolio 51
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Capacity by Asset Type Total MW (a) + (b) % Operational MW (a) % Under construction MW (b) % Coal 7,480 33% 7,480 33% - - Gas 6,138 27% 6,138 27% - - Nuclear 2,750 12% 2,750 12% - - Wind 2,884 13% 2,353 10% 531 2% Solar 1,491 7% 1,077 5% 414 2% Hydro 489 2% 489 2% - - Others 2 1,441 6% 1,216 5% 225 1% Total 22,672 100% 21,502 95% 1,170 5% CLP Group – Generation and energy storage capacity 1 by asset type 22,672 MW Attributable to CLP Group 1. On an equity plus long-term capacity and energy purchase basis. 2. Others include diesel, waste-to-energy, energy storage. Note: Individual items and totals are rounded to the nearest appropriate number. Some totals may not add down the page due to rounding of individual components. 52
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CLP Group – Energy sent out 1 by asset type – 1H2026 1. On an equity plus long-term capacity and energy purchase basis. Covers CLP’s generation and energy storage portfolio. * Based on geographical location of assets. 53 -4 0 4 8 12 16 1H2025 1H2026 1H2025 1H2026 1H2025 1H2026 1H2025 1H2026 1H2025 1H2026 Hong Kong Chinese Mainland EnergyAustralia Apraava Energy Taiwan Region and Southeast Asia TWh Pumped Storage Nuclear Coal Gas Renewables Others 36% 27%10% 27% 37% 22%10% 31% CLP 1H2026 Generation as Sent Out (1) 1H2025: 36.5 TWh 1H2026: 36.0 TWh 1H2026 1H2025 10.9 10.4 14.4 15.5 7.9 1.5 2.6 7.9 0.8 0.7
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Introductory Pack August 2026 Additional Resources Scan or click on the QR codes to go to appropriate pages * To be published in August 2026. Annual Results Presentation February 2026 Interim Report 2026 * Sustainability Report 2025 Materiality Assessment Report 2025 Climate Vision 2050 2024 Edition Annual Report 2025 54
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If you have any questions, please contact IR team or email ir@clp.com.hk . You can access this presentation and other materials through our website or CLP IR App which can be downloaded onto your mobile device by clicking here or by scanning this code below. Thank you！ 55