Meridian Energy monthly operating report for December 2019

Attached is Meridian Energy Limited's monthly operating report for the month of December 2019. Highlights this month include: ? In the month to 13 January 2020, national hydro storage decreased from 175% to 123% of historical average ? South Island storage sat at 121% of average and North Island storage at 132% of average on 13 January 2020 ? Meridian's December 2019 monthly total inflows were 204% of historical average ? Meridian's Waitaki catchment storage at the end of December 2019 was 136% of historical average ? Storage in Meridian's Waiau catchment was well above average at the end of December 2019 ? Meridian made calls under the Genesis Swaption in early January 2020 ? National electricity demand in December 2019 was 4.9% higher than the same month last year ? December 2019 saw wet and cool South Island conditions, while the North Island was warmer and drier than average ? New Zealand Aluminium Smelter's load during December 2019 was below the contract level of 622MW ? Meridian's New Zealand retail sales volumes in December 2019 were 45.0% higher than December 2018 End CA:00347091 For:MEL Type:MKTUPDTE Time:2020-01-15 08:30:51