Meridian Energy monthly operating report for April 2022

Attached is Meridian Energy Limited's monthly operating report for the month of April 2022. Highlights this month include: ? In the month to 15 May 2022, national hydro storage decreased from 81% to 76% of historical average ? South Island storage was unchanged at 73% of average and North Island storage decreased to 101% of average by 15 May 2022 ? Meridian's April 2022 monthly total inflows were 71% of historical average ? The Waiau catchment has now seen seven consecutive months of below average inflows. Over that period inflows have been 61% of historical average ? Meridian's Waitaki catchment water storage at the end of April 2022 was 79% of historical average ? Water storage in Meridian's Waiau catchment remained below average at the end of April 2022 ? National electricity demand in April 2022 was 2.3% lower than the same month last year ? April was another warm, dry month for the country. Almost all regions experienced above average temperatures and below average rainfall ? Meridian made calls under the Genesis swaption in April 2022 and early May 2022 ? March was a warm month for most of the country. Rainfall was generally below average, the notable exception was the east of the North Island ? New Zealand Aluminium Smelter's average load during April 2022 was 561MW ? Meridian's New Zealand retail sales volumes in April 2022 were 3.1% higher than April 2021 ? Compared to April 2021, segment sales increased in residential +4.8%, small medium business +10.5%, large business +11.8% and corporate +6.8%. Agricultural volumes were -18.6% lower than April 2021 End CA:00392230 For:MEL Type:MKTUPDTE Time:2022-05-18 08:30:39