Meridian Energy monthly operating report for February 2022

Attached is Meridian Energy Limited's monthly operating report for the month of February 2022. Highlights this month include: ? In the month to 10 March 2022, national hydro storage decreased from 117% to 102% of historical average ? South Island storage decreased to 97% of average and North Island storage decreased to 137% of average by 10 March 2022 ? Meridian's February 2022 monthly total inflows were 120% of historical average ? In February 2022, Meridian's Waitaki catchment inflows were 149% of average, while Waiau catchment inflows were 63% of average ? Meridian's Waitaki catchment water storage at the end of February 2022 was 113% of historical average ? Water storage in Meridian's Waiau catchment was well below average at the end of February 2022 ? Waitaki snow storage in late February 2022 was 63% of historical average ? National electricity demand in February 2022 was 2.3% lower than the same month last year ? February was a warm and very wet month. Temperatures were at or above average, while most of the country experienced above average rainfall ? New Zealand Aluminium Smelter's average load during February 2022 was 572MW ? Meridian's New Zealand retail sales volumes in February 2022 were 6.9% lower than February 2021 ? Compared to February 2021, segment sales increased in residential +16.2%, small medium business +21.7% and corporate +0.8%. Agricultural volumes were -47.2% lower and large business volumes were -8.6% lower than February 2021 End CA:00388831 For:MEL Type:MKTUPDTE Time:2022-03-15 08:30:35