Meridian Energy monthly operating report for June 2020

Attached is Meridian Energy Limited's monthly operating report for the month of June 2020. Highlights this month include: - In the month to 20 July 2020, national hydro storage decreased from 103% to 75% of historical average - South Island storage sat at 75% of average and North Island storage at 76% of average on 20 July 2020 - Meridian's June 2020 monthly total inflows were 78% of historical average - Meridian's Waitaki catchment storage at the end of June 2020 was 73% of historical average - Storage in Meridian's Waiau catchment was below average at the end of June 2020 - National electricity demand in June 2020 was 1.1% lower than the same month last year - Weekly demand continued its relatively strong levels through Alert Level 1 - June 2020 was a warm start to winter across much of the country. While most of the North Island saw above average rainfall, southern and western parts of the South Island were comparatively dry - Meridian made calls under the Genesis swaption during June 2020 and July 2020 - New Zealand Aluminium Smelter's average load during June 2020 was 565MW as the 4th potline at Tiwai Point remains suspended in response to COVID-19 - Meridian's New Zealand retail sales volumes in June 2020 were 15.6% higher than June 2019 - Compared to June 2019, Meridian saw increased segment sales in all segments: residential (+6.0%), small medium business (+4.3%) agricultural (+19.4%), large business (+18.8%) and corporate (+26.3%) End CA:00356638 For:MEL Type:MKTUPDTE Time:2020-07-22 08:30:50