New Zealand Professional Investment Services Firm

Forsyth Barr

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

New Zealand Professional Investment Services Firm, Forsyth Barr

Equity Bottom-Up

<ul><li>Contact Energy (CEN) announced with its FY26 result a potential data centre project at its Stratford site, joining the data centre rush.</li><li>While it is early days, we are positive on CEN’s move as it not only stimulates electricity demand, but is a low-risk way of participating in data centre upside, and ~50% of our +20cps target price increase is due to this opportunity.</li><li>The FY26 result itself and FY27 outlook were in line with expectations.</li></ul>

Contact Energy (CEN) announced with its FY26 result a potential data centre project at its Stratford site, joining the data centre rush.While it is early days, we are positive on CEN’s move as it not only stimulates electricity demand, but is a low-risk way of participating in data centre upside, and ~50% of our +20cps target price increase is due to this opportunity.The FY26 result itself and FY27 outlook were in line with expectations.

Contact Energy Powering Up Data Centre Growth: FY26 Result