Meridian Energy Limited Investor Presentation

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Stock Exchange Listings NZX (MEL) ASX (MEZ)
Meridian Energy Limited Investor Presentation

7 September 2022
Attached is a presentation Meridian Energy will be making to investors during September
2022.


ENDS
Neal Barclay
Chief Executive
Meridian Energy Limited

For investor relations queries, please contact:
Owen Hackston
Investor Relations Manager
021 246 4772
For media queries, please contact:
Rheilli Uluilelata
External Communications Advisor
022 589 1052

SEPTEMBER 2022
2022 Investor Presentation

20%
36%
33%
19%
15%
60%
10%
12%
-8%
-20%
0%
20%
40%
60%
80%
201420152016201720182019202020212022
Financial Year ended 30 June
Total shareholder return
1
Meridian TSRNZX50 Index
2
SEPTEMBER 20222022 INVESTOR PRESENTATION
Meridian Energy
Twizel
Source: Meridian, Refinitiv
1
share price change plus gross dividend yield
Harapaki(construction)

3
Meridian Energy
SEPTEMBER 20222022 INVESTOR PRESENTATION

4

Harapakiwind farm – Hawkes Bay
$448m capital costs
T
o power the equivalent of 70,000 homes
L
ocal iwi are integral part of our team
S
ustainability focus to design out emissions
5
SEPTEMBER 20222022 INVESTOR PRESENTATION

6
The renewable growth challenge
SEPTEMBER 20222022 INVESTOR PRESENTATION
30
35
40
45
50
55
60
65
70
199719992001200320052007200920112013201520172019202120232025202720292031203320352037203920412043204520472049
TWh
Financial Year ended 30 June
Annual market demand for generation
Source: Meridian
history
range of future growth
20 in 28

7
Meridian’s renewable development pipeline
SEPTEMBER 20222022 INVESTOR PRESENTATION
Deep pipeline of 2.3 GW (5.4 TWh) of development options
1.1 GW secured, 1.2 GW in advanced prospects, further battery site acquired
North Island focus, flexibility on South Island options maintained

8
Green hydrogen
SEPTEMBER 20222022 INVESTOR PRESENTATION
final
responses
and
selection
late 2022
commercial
development
2023-2024
final
investment
decision
late 2024

9
Evolving our customer approach
SEPTEMBER 20222022 INVESTOR PRESENTATION
4,000
5,000
6,000
7,000
8,000
20182019202020212022
GWh
Financial Year ended 30 June
Mass market and corporate sales volumes
50%
growth
in 3
years
From sales growth
Source: Meridian

10
Evolving our customer approach
SEPTEMBER 20222022 INVESTOR PRESENTATION
To energy solutions that enable customers to decarbonise

0
10,000
20,000
30,000
40,000
2021202220232024202520262027202820292030
tCO2e
Financial Year ended 30 June
Progress against our Half by 30 goal
land transportfarmsfugitive emissions
air travelferryother (scope 3)
reduction target
11
Half by 30
Goal to halve our 2021 operational emissions
by 2030
An approved science-based target
Today all Meridian’s operational emissions are
offset
Source: Meridian
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12
Forever forests
Creating a carbon sink by planting 1.5 million
trees
Will offset the emissions we can’t remove
through Half by 30
A mixed planting model of natives and exotics
To act as an effective carbon sink and leave a
native forest legacy
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13
Why Meridian?
SEPTEMBER 20222022 INVESTOR PRESENTATION
Green
Finance
Framework
Greenhouse Gas
Emissions
Inventory
Report
Leading sustainability performance

14
Why Meridian?
SEPTEMBER 20222022 INVESTOR PRESENTATION
High quality investment
quality, scale
assets
high free cash
flow
progressive
ordinary
dividend
balance sheet
headroom
strong growth
outlook
deep
renewable
development
pipeline

Questions
15
SEPTEMBER 20222022 INVESTOR PRESENTATION

16
Disclaimer
The information in this presentation was prepared by Meridian Energy with
due care and attention. However, the information is supplied in summary
form and is therefore not necessarily complete, and no representation is
made as to the accuracy, completeness or reliability of the information. In
addition, neither the company nor any of its directors, employees,
shareholders nor any other person shall have liability whatsoever to any
person for any loss (including, without limitation, arising from any fault or
negligence) arising from this presentation or any information supplied in
connection with it.
This presentation may contain forward-looking statements and projections.
These reflect Meridian’s current expectations, based on what it thinks are
reasonable assumptions. Meridian gives no warranty or representation as to
its future financial performance or any future matter. Except as required by
law or NZX or ASX listing rules, Meridian is not obliged to update this
presentation after its release, even if things change materially.
This presentation does not constitute financial advice. Further, this
presentation is not and should not be construed as an offer to sell or a
solicitation of an offer to buy Meridian Energy securities and may not be
relied upon in connection with any purchase of Meridian Energy securities.
This presentation contains a number of non-GAAP financial measures,
including Energy Margin, EBITDAF, Underlying NPAT and gearing. Because
they are not defined by GAAP or IFRS, Meridian's calculation of these
measures may differ from similarly titled measures presented by other
companies and they should not be considered in isolation from, or construed
as an alternative to, other financial measures determined in accordance with
GAAP. Although Meridian believes they provide useful information in
measuring the financial performance and condition of Meridian's business,
readers are cautioned not to place undue reliance on these non-GAAP
financial measures.
The information contained in this presentation should be considered in
conjunction with the company’s financial statements, which are included in
Meridian’s integrated report for the year ended 30 June 2022 and is available
at:
www.meridianenergy.co.nz/investors
All currency amounts are in New Zealand dollars unless stated otherwise.
SEPTEMBER 20222022 INVESTOR PRESENTATION