Meridian Energy monthly operating report for May 2022

Attached is Meridian Energy Limited's monthly operating report for the month of May 2022.

Highlights this month include:

▪ In the month to 10 June 2022, national hydro storage increased from 76% to 85% of historical average
▪ South Island storage increased to 79% of average and North Island storage increased to 122% of average by 10 June 2022
▪ Meridian’s May 2022 monthly total inflows were 81% of historical average
▪ Waiau catchment inflows were 85% of historical average in May 2022
▪ Water storage in Meridian’s Waiau catchment remained below average at the end of May 2022
▪ Meridian’s Waitaki catchment water storage at the end of May 2022 was 69% of historical average
▪ National electricity demand in May 2022 was 3.0% lower than the same month last year
▪ May 2022 was the third warmest May on record. Rainfall was mixed, with below average totals in Canterbury, Otago, and southwestern Southland
▪ Meridian made calls under the Genesis swaption in May 2022
▪ New Zealand Aluminium Smelter’s average load during May 2022 was 565MW
▪ Meridian’s New Zealand retail sales volumes in May 2022 were 4.4% higher than May 2021
▪ Compared to May 2021, segment sales increased in small medium business +7.6%, large business +8.6%, agricultural +11.3% and corporate +3.8%. Residential volumes were -1.0% lower than May 2021

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