Meridian Energy monthly operating report for October 2021

Attached is Meridian Energy Limited's monthly operating report for the month of October 2021. Highlights this month include: - In the month to 11 November 2021, national hydro storage decreased from 134% to 119% of historical average - South Island storage decreased to 116% of average and North Island storage increased to 130% of average by 11 November 2021 - Meridian's October 2021 monthly total inflows were 83% of historical average - Meridian's Waitaki catchment water storage at the end of October 2021 was 149% of historical average - Water storage in Meridian's Waiau catchment was below average at the end of October 2021 - Waitaki snow storage at the end of October 2021 was 119% of historical average - National electricity demand in October 2021 was 3.0% lower than the same month last year. More stringent lockdowns were in place this October compared to October 2020 - October 2021 was another mild month with temperatures above average for most of the country. Most South Island regions saw rainfall below average - New Zealand Aluminium Smelter's average load during October 2021 was 572MW - Meridian's New Zealand retail sales volumes in October 2021 were 0.2% lower than October 2020 - Compared to October 2020, segment sales increased in residential +16.8%, small medium business +12.4% and corporate +6.5%. Large business volumes were -5.6% lower and agricultural volumes were -33.0% lower than October 2020 End CA:00382742 For:MEL Type:MKTUPDTE Time:2021-11-12 08:30:57