Meridian Energy monthly operating report for March 2019

Attached is Meridian Energy Limited's monthly operating report for the month of March 2019. Highlights this month include: ? In the month to 5 April 2019, national hydro storage increased from 81% to 105% of historical average ? South Island storage sat at 109% of average and North Island storage at 67% of average on 5 April 2019 ? Meridian's March 2019 monthly total inflows were 136% of historical average ? Meridian's Waitaki catchment storage at the end of March 2019 was 107% of historical average ? Storage in Meridian's Waiau catchment was above average at the end of March 2019 ? National electricity demand in March 2019 was 3.6% higher than the same month last year ? Meridian made calls on load under the Genesis Swaption in March and early April 2019 ? March 2019 was New Zealand's second equal warmest March on record. It was a dry month for many locations, although extremely heavy rainfall occurred in the western South Island on March 25-27. Drier than normal soils were present across large parts of the country at the end of March ? New Zealand Aluminium Smelter's load during March 2019 was below the contract level of 622MW ? Meridian's retail sales volumes in March 2019 were 21.4% higher than March 2018 End CA:00333224 For:MEL Type:MKTUPDTE Time:2019-04-11 08:30:26