Meridian Energy monthly operating report for February 2024

Attached is Meridian Energy Limited's monthly operating report for the month of February 2024.

Highlights this month include:

▪ In the month to 11 March 2024, national hydro storage decreased from 101% to 93% of historical average
▪ South Island storage decreased to 87% of average and North Island storage decreased to 140% of average by 11 March 2024
▪ Meridian’s February 2024 monthly total inflows were 94% of historical average
▪ Waiau catchment inflows in February 2024 were 149% of historical average
▪ Meridian’s Waitaki catchment water storage at the end of February 2024 was 85% of historical average
▪ Water storage in Meridian’s Waiau catchment was 141% of average at the end of February 2024
▪ National electricity demand in February 2024 (which includes a leap day) was +7.1% higher than the same month last year
▪ February 2024 was a dry month across the country with temperatures near average for many areas. Below normal rainfall occurred in most regions, with above average rainfall in the lower South Island
▪ New Zealand Aluminium Smelter’s average load during February 2024 was 580MW
▪ Meridian’s retail sales volumes in February 2024 were +9.6% higher than February 2023
▪ Compared to February 2023, segment sales increased in residential +5.8%, small medium business +9.0%, large business +17.4%, agriculture +27.6% and corporate +1.7%

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