Meridian Energy monthly operating report for February 2018

Attached is Meridian Energy Limited's monthly operating report for the month of February 2018. Highlights this month include: - In the month to 11 March 2018, national hydro storage increased from 92% to 107% of historical average - South Island storage sat at 100% of average and North Island storage at 158% of average on 11 March 2018 - Meridian's February 2018 monthly total inflows were 148% of historical average - Meridian's Waitaki catchment storage at the end of February 2018 was 96% of historical average - Storage in Meridian's Waiau catchment was above average at the end of February 2018 - Meridian made calls on load under the Genesis Swaption during early February 2018 - National electricity demand in February 2018 was 2.4% lower than the same month last year, with all the reduction being seen in the South Island - February 2018 saw the influence of two ex-tropical cyclones, with South Island rainfall totals as high as 300%-400% of average in places and notably lower irrigation usage - Meridian's retail sales volumes in February 2018 decreased by 12.7% compared to February 2017 End CA:00315413 For:MEL Type:MKTUPDTE Time:2018-03-13 08:30:09