Meridian Energy monthly operating report for May 2022

Attached is Meridian Energy Limited's monthly operating report for the month of May 2022. Highlights this month include: ? In the month to 10 June 2022, national hydro storage increased from 76% to 85% of historical average ? South Island storage increased to 79% of average and North Island storage increased to 122% of average by 10 June 2022 ? Meridian's May 2022 monthly total inflows were 81% of historical average ? Waiau catchment inflows were 85% of historical average in May 2022 ? Water storage in Meridian's Waiau catchment remained below average at the end of May 2022 ? Meridian's Waitaki catchment water storage at the end of May 2022 was 69% of historical average ? National electricity demand in May 2022 was 3.0% lower than the same month last year ? May 2022 was the third warmest May on record. Rainfall was mixed, with below average totals in Canterbury, Otago, and southwestern Southland ? Meridian made calls under the Genesis swaption in May 2022 ? New Zealand Aluminium Smelter's average load during May 2022 was 565MW ? Meridian's New Zealand retail sales volumes in May 2022 were 4.4% higher than May 2021 ? Compared to May 2021, segment sales increased in small medium business +7.6%, large business +8.6%, agricultural +11.3% and corporate +3.8%. Residential volumes were -1.0% lower than May 2021 End CA:00393667 For:MEL Type:MKTUPDTE Time:2022-06-14 08:30:36