Meridian Energy monthly operating report for December 2017

Attached is Meridian Energy Limited's monthly operating report for the month of December 2017. Highlights this month include: - In the month to 17 January 2018, national hydro storage decreased from 90% to 79% of historical average - South Island storage sat at 72% of average and North Island storage at 122% of average on 17 January - Meridian's December 2017 monthly total inflows were 70% of historical average - Meridian's Waitaki catchment storage at the end of December 2017 was 81% of historical average - Storage in Meridian's Waiau catchment was also well below average at the end of December 2017 - Waiau catchment inflows were 68% of average in December 2017 - Meridian has made calls on load under the Genesis Swaption during both December 2017 and January 2018 - National electricity demand in December 2017 was 2.4% higher than the same month last year - December 2017 was a very warm and dry month with temperatures well above average and rainfall well below average across most of New Zealand - Meridian's retail sales volumes in December 2017 increased by 20.5% compared to December 2016 End CA:00313241 For:MEL Type:MKTUPDTE Time:2018-01-19 16:14:27