Meridian Energy monthly operating report for November 2019

Attached is Meridian Energy Limited's monthly operating report for the month of November 2019. Highlights this month include: ? In the month to 10 December 2019, national hydro storage increased from 111% to 175% of historical average ? South Island storage sat at 186% of average and North Island storage at 124% of average on 10 December 2019 ? Meridian's November 2019 monthly total inflows were 174% of historical average ? Meridian's Waitaki catchment storage at the end of November 2019 was 126% of historical average ? Storage in Meridian's Waiau catchment was well above average at the end of November 2019 ? National electricity demand in November 2019 was 2.7%1 higher than the same month last year ? November 2019 was New Zealand's hottest November on record. Rainfall was well above average in the west and south of the South Island and much drier elsewhere ? New Zealand Aluminium Smelter's load during November 2019 was below the contract level of 622MW ? Meridian's New Zealand retail sales volumes in November 2019 were 26.9% higher than November 2018 End CA:00346103 For:MEL Type:MKTUPDTE Time:2019-12-17 08:30:52