Meridian Energy monthly operating report for November 2017

Attached is Meridian Energy Limited's monthly operating report for the month of November 2017. Highlights this month include: In the month to 12 December 2017, national hydro storage decreased from 104% to 90% of historical average South Island storage sat at 86% of average and North Island storage at 105% of average on 12 December 2017 Meridian's November 2017 monthly total inflows were 77% of historical average Meridian's Waitaki catchment storage at the end of November 2017 was 102% of historical average Storage in Meridian's Waiau catchment was below half the long-term average at the end of November 2017 Waiau catchment inflows were 54% of average in November 2017 Meridian has made short-term calls on load under the Genesis Swaption during December 2017 National electricity demand in November 2017 was 3.6% higher than the same month last year November 2017 saw hot, dry conditions across much of New Zealand with high irrigation load in the east of the South Island Meridian's retail sales volumes in November 2017 increased by 18.5% compared to November 2016 End CA:00311890 For:MEL Type:MKTUPDTE Time:2017-12-14 08:30:07