Meridian Energy monthly operating report for May 2018

Attached is Meridian Energy Limited's monthly operating report for the month of May 2018. Highlights this month include: ? In the month to 13 June 2018, national hydro storage decreased from 121% to 120% of historical average ? South Island storage sat at 117% of average and North Island storage at 138% of average on 13 June 2018 ? Meridian's May 2018 monthly total inflows were 105% of historical average ? Meridian's Waitaki catchment storage at the end of May 2018 was 129% of historical average ? Storage in Meridian's Waiau catchment was well above average at the end of May 2018 ? National electricity demand in May 2018 was 0.4% lower than the same month last year and included a major planned maintenance shutdown at the Marsden Point oil refinery ? May 2018 was a contrast of relatively warm, dry weather in the first half of the month, followed by colder, unsettled conditions ? Meridian's retail sales volumes in May 2018 increased by 0.9% compared to May 2017 End CA:00319334 For:MEL Type:MKTUPDTE Time:2018-06-14 08:41:49