Meridian Energy monthly operating report for November 2022

Attached is Meridian Energy Limited's monthly operating report for the month of November 2022. Highlights this month include: ? In the month to 8 December 2022, national hydro storage decreased from 149% to 138% of historical average ? South Island storage decreased to 138% of average and North Island storage increased to 137% of average by 8 December 2022 ? Meridian's November 2022 monthly total inflows were 131% of historical average ? Waiau catchment inflows in November 2022 were lower, at 90% of historical average ? Meridian's Waitaki catchment water storage at the end of November 2022 was 175% of historical average ? Water storage in Meridian's Waiau catchment was 89% of average at the end of November 2022 ? Waitaki snow storage in late November 2022 was 92% of historical average ? National electricity demand in November 2022 was 1.5% lower than the same month last year ? November 2022 was the warmest November on record. While rainfall was below average in Fiordland and Eastern Otago, most of the country saw above average rainfall totals ? New Zealand Aluminium Smelter's average load during November 2022 was 578MW ? Meridian's New Zealand retail sales volumes in November 2022 were 1.4% higher than November 2021 ? Compared to November 2021, segment sales increased in small medium business +10.1%, large business +23.2% and corporate +1.7%. Sales were lower in residential -2.0% and agricultural -8.4% End CA:00404184 For:MEL Type:MKTUPDTE Time:2022-12-16 08:30:32