Meridian Energy monthly operating report for January 2023

Attached is Meridian Energy Limited's monthly operating report for the month of January 2023. Highlights this month include: ? In the month to 14 February 2023, national hydro storage decreased from 116% to 111% of historical average ? South Island storage decreased to 103% of average and North Island storage increased to 166% of average by 14 February 2023 ? Meridian's January 2023 monthly total inflows were 46% of historical average ? Waiau catchment inflows in January 2023 were 19% of historical average, the lowest January inflows on record ? Meridian's Waitaki catchment water storage at the end of January 2023 was 99% of historical average ? Water storage in Meridian's Waiau catchment was 29% of average at the end of January 2023 ? National electricity demand in January 2023 was 1.2% lower than the same month last year ? January 2023 saw above average temperatures. Unprecedented North Island rainfall totals contrasted with South Island rainfall that was well below average ? New Zealand Aluminium Smelter's average load during January 2023 was 575MW ? Meridian's New Zealand retail sales volumes in January 2023 were 1.8% lower than January 2022 ? Compared to January 2022, segment sales increased in residential +0.4%, small medium business +2.5%, agriculture +0.3%, large business +15.5%. Sales were lower in corporate -7.3% End CA:00406846 For:MEL Type:MKTUPDTE Time:2023-02-17 08:30:46