Standard & Poor’s Outlook Revision

Standard & Poor's Global Ratings has revised its credit rating outlook for Meridian Energy Limited (MEL) to BBB+/Stable from BBB+/Negative. Standard & Poor's stated that the revised outlook to stable reflects their view that Rio Tinto's decision to continue operations at its NZAS smelter until at least 31 December 2024, eases previously forecast pressure on earnings and energy margins. At the same time, Standard & Poor's affirmed Meridian's 'BBB+' long-term issuer credit rating and 'A2' short term issuer credit rating. End CA:00368227 For:MEL Type:CREDIT Time:2021-02-25 10:53:17