Meridian Energy monthly operating report for May 2023

Attached is Meridian Energy Limited's monthly operating report for the month of May 2023. Highlights this month include: ? In the month to 14 June 2023, national hydro storage increased from 121% to 143% of historical average ? South Island storage increased to 141% of average and North Island storage decreased to 158% of average by 14 June 2023 ? Meridian's May 2023 monthly total inflows were 190% of historical average, the third highest May inflows on record ? The Waitaki catchment recorded its second highest May month inflows on record ? Waiau catchment inflows in May 2023 were 188% of historical average ? Meridian's Waitaki catchment water storage at the end of May 2023 was 137% of historical average ? Water storage in Meridian's Waiau catchment was 187% of average at the end of May 2023 ? National electricity demand in May 2023 was 1.6% higher than the same month last year ? May 2023 saw the warmest May on record. Rainfall was above average across the country except in some east coast regions of both islands ? New Zealand Aluminium Smelter's average load during May 2023 was 574MW ? Meridian's retail sales volumes in May 2023 were 1.0% higher than May 2022 ? Compared to May 2022, segment sales increased in small medium business +3.7%, large business +11.4% and corporate +1.2%. Sales decreased in residential -0.5% and agricultural -8.5% ? Revised full year FY23 Capital Expenditure of $340m-$365m (previously $370m-$395m) End CA:00413230 For:MEL Type:MKTUPDTE Time:2023-06-19 08:30:28