Meridian Energy monthly operating report for April 2018

Attached is Meridian Energy Limited's monthly operating report for the month of April 2018. Highlights this month include: ? In the month to 11 May 2018, national hydro storage increased from 113% to 121% of historical average ? South Island storage sat at 121% of average and North Island storage at 123% of average on 11 May 2018 ? Meridian's April 2018 monthly total inflows were 123% of historical average ? Meridian's Waitaki catchment storage at the end of April 2018 was 120% of historical average ? Storage in Meridian's Waiau catchment was well above average at the end of April 2018 ? National electricity demand in April 2018 was 2.3% higher than the same month last year, with Good Friday public holiday falling in March this year and April last year ? April 2018 saw near average temperatures punctuated by a mid-month cold snap. Most parts of the country recorded above average rainfall for the month ? Meridian's retail sales volumes in April 2018 decreased by 0.6% compared to April 2017 End CA:00317969 For:MEL Type:MKTUPDTE Time:2018-05-15 08:40:20