Meridian Energy monthly operating report for October 2022

Attached is Meridian Energy Limited's monthly operating report for the month of October 2022. Highlights this month include: ? In the month to 15 November 2022, national hydro storage increased from 146% to 149% of historical average ? South Island storage increased to 154% of average and North Island storage decreased to 132% of average by 15 November 2022 ? Meridian's October 2022 monthly total inflows were 70% of historical average ? Waiau catchment inflows in October 2022 were lower, at 58% of historical average ? Meridian's Waitaki catchment water storage at the end of October 2022 was 154% of historical average ? Water storage in Meridian's Waiau catchment was 73% of average at the end of October 2022 ? Waitaki snow storage in late October 2022 was 109% of historical average ? National electricity demand in October 2022 was 3.1% higher than the same month last year ? October 2022 was dry and mild for much of the country. Rainfall was below average for most of the South Island and southern and westerns parts of the North Island ? New Zealand Aluminium Smelter's average load during October 2022 was 573MW ? Meridian's New Zealand retail sales volumes in October 2022 were 11.0% higher than October 2021 ? Compared to October 2021, segment sales increased in residential +2.5%, small medium business +23.9%, agricultural +27.4% and corporate +7.2%. Large business sales decreased -7.9% End CA:00402587 For:MEL Type:MKTUPDTE Time:2022-11-18 08:30:23