Valuation of Snowy Hydro Ltd

The contractor is required to provide each shareholder with a “fit for purpose” certified report, detailing the valuation of Snowy Hydro Limited's (SHL's) equity at fair value as at 30 June 2017 and 30 June 2018. The report will detail the scope, methodology, procedure and outcomes as well as all relevant assumptions, definitions and limiting conditions appropriate to the procurement. The contractor will supply the three shareholders with the preliminary and final versions of the valuation report in both written and electronic format. The report is to include explanations of movements in the valuations from year to year and take into account the interest holdings of the Commonwealth, NSW and Victorian Governments. The contractor will undertake the valuation as at 30 June 2017 and 30 June 2018 as a Limited Scope Valuation Engagement in accordance with the requirements of the
professional standard “APES 225 Valuation Services” using the methodologies stated in Schedule 1.