Meridian Energy monthly operating report for December 2018

Attached is Meridian Energy Limited's monthly operating report for the month of December 2018. Highlights this month include: ? In the month to 11 January 2019, national hydro storage decreased from 95% to 92% of historical average ? South Island storage sat at 92% of average and North Island storage at 89% of average on 11 January 2019 ? Meridian's December 2018 monthly total inflows were 68% of historical average ? Meridian's Waitaki catchment storage at the end of December 2018 was 98% of historical average ? Storage in Meridian's Waiau catchment was below average at the end of December 2018 ? National electricity demand in December 2018 was 4.5% lower than the same month last year, with low irrigation load this month ? December 2018 saw above average temperatures and rainfall across much of New Zealand except for drier lower South Island conditions. Soil moisture levels are elevated across much of the country ? New Zealand Aluminium Smelter's load averaged 611MW during December 2018 as new cells were cut in on potline 4 ? Meridian's retail sales volumes in December 2018 were 23.9% lower than December 2017 End CA:00329472 For:MEL Type:MKTUPDTE Time:2019-01-16 08:30:11