Meridian Energy monthly operating report for August 2023

Attached is Meridian Energy Limited's monthly operating report for the month of August 2023. Highlights this month include:

▪ In the month to 11 September 2023, national hydro storage decreased from 106% to 83% of historical average
▪ South Island storage decreased to 87% of average and North Island storage decreased to 68% of average by 11 September 2023
▪ Meridian’s August 2023 monthly total inflows were 84% of historical average
▪ Waiau catchment inflows in August 2023 were 102% of historical average
▪ Meridian’s Waitaki catchment water storage at the end of August 2023 was 107% of historical average
▪ Snow storage in Meridian’s Waitaki catchment was 90% of average in early September
▪ Water storage in Meridian’s Waiau catchment was 106% of average at the end of August 2023
▪ National electricity demand in August 2023 was 4.5% higher than the same month last year
▪ August 2023 was the coldest August in seven years with temperatures below average for most of the country. Rainfall was below average for eastern, central and northern parts of the North Island and most of the South Island
▪ New Zealand Aluminium Smelter’s average load during August 2023 was 568MW
▪ Meridian’s retail sales volumes in August 2023 were 4.1% higher than August 2022
▪ Compared to August 2022, segment sales increased in residential +4.3%, small medium business +6.4%, large business +3.2%, agricultural +1.9% and corporate +3.6%

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