Meridian Energy Monthly Operating Report for May 2021

Attached is Meridian Energy Limited's monthly operating report for the month of May 2021.

Highlights this month include:

▪ In the month to 10 June 2021, national hydro storage increased from 67% to 70% of historical average
▪ South Island storage increased to 75% of average and North Island storage was unchanged at 35% of average by 10 June 2021
▪ Meridian’s May 2021 monthly total inflows were 111% of historical average
▪ Meridian’s Waitaki catchment water storage at the end of May 2021 was 66% of historical average
▪ Water storage in Meridian’s Waiau catchment was below average at the end of May 2021
▪ National electricity demand in May 2021 was 3.0% higher than the same month last year
▪ May 2021 was warmer than normal for most of the country. Rainfall was highly variable; it was dry in parts of the North Island while Canterbury experienced severe flooding late in the month
▪ Meridian made calls under the Genesis swaption in May and June 2021
▪ Outages have been confirmed out to December 2021 on the Roxburgh-Livingstone line as part of the Clutha Upper Waitaki Lines Project
▪ New Zealand Aluminium Smelter’s average load during May 2021 was 552MW
▪ Meridian’s New Zealand retail sales volumes in May 2021 were 23.4% higher than May 2020
▪ Compared to May 2020, sales increased in all segments: residential +5.7%, small medium business +49.2%, agricultural +1.4%, large business +11.1% and corporate +33.0%

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