Meridian Energy monthly operating report for March 2018

Attached is Meridian Energy Limited's monthly operating report for the month of March 2018. Highlights this month include: - In the month to 10 April 2018, national hydro storage increased from 107% to 113% of historical average - South Island storage sat at 110% of average and North Island storage at 135% of average on 10 April 2018 - Meridian's March 2018 monthly total inflows were 113% of historical average - Meridian's Waitaki catchment storage at the end of March 2018 was 109% of historical average - Storage in Meridian's Waiau catchment was well above average at the end of March 2018 - National electricity demand in March 2018 was 0.5% lower than the same month last year, with most of the reduction being seen in the Canterbury region - March 2018 was a warm month across New Zealand. Rainfall was variable, with heavy rain leading to flooding in some areas and lower irrigation use - Meridian's retail sales volumes in March 2018 decreased by 8.6% compared to March 2017 End CA:00316689 For:MEL Type:MKTUPDTE Time:2018-04-13 08:30:16