Capital Change Notice

Release






M e r i d i a n E n e r g y L i m i t e d ( A R B N 1 5 1 8 0 0 3 9 6 ) A c o m p a n y i n c o r p o r a t e d i n N e w Z e a l a n d
287-2 9 3 D u r h a m S t r e e t N o r t h , C h r i s t c h u r c h 8 0 1 3

m e r i d i a n e n e r g y . c o . n z
Stock Exchange Listings NZX (MEL) ASX (MEZ)
Capital Change Notice

24 October 2023
Meridian Energy Limited provides the attached Capital Change Notice pursuant to NZX listing rule
3.13.1. This Notice relates to the issue of 866,246 performance share rights for senior executives and
members of Meridian’s senior management. The performance share rights are being issued pursuant to
the Meridian Executive Long-Term Incentive Scheme.


ENDS
Jason Woolley
General Counsel and Company Secretary
Meridian Energy Limited


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

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Capital Change Notice

Updated as at 17 October 2021


Section 1: Issuer information
Name of issuer Meridian Energy Limited
NZX ticker code MEL
Class of financial product Share rights which give the holder
options to acquire ordinary shares
ISIN (If unknown, check on NZX website) NZMELE0002S7
Currency NZD
Section 2: Capital change details
Number issued/acquired/redeemed 866,246
Nominal value (if any) Nil
Issue/acquisition/redemption price per security No consideration is payable for the
issue of the share rights.
Nature of the payment (for example, cash or other
consideration)
Nil
Amount paid up (if not in full) Nil
Percentage of total class of Financial Products
issued/acquired/redeemed/ (calculated on the number
of Financial Products of the Class, excluding any
Treasury Stock, in existence)
1

If all share rights vest and the options
are exercised, 0.0335% of the
ordinary shares in Meridian Energy
Limited (based on the number of
ordinary shares currently on issue)
plus the Dividend Adjustment
(described at 'Principal terms of
Conversion' below).
For an issue of Convertible Financial Products or
Options, the principal terms of Conversion (for example
the Conversion price and Conversion date and the
ranking of the Financial Product in relation to other
Classes of Financial Product) or the Option (for
example, the exercise price and exercise date)
Each Share Right entitles the holder,
upon the vesting and exercise of the
Share Right, to one ordinary share in
the Company. Each Share Right also
entitles the holder to an additional
number of shares equal to the value of
gross cash dividends per share which
would have been paid to a New
Zealand tax resident who held a share
for the duration of the vesting period,
calculated using a 10-day volume
weighted average price (Dividend
Adjustment).
The number of Share Rights that vest
depend on Meridian Energy Limited’s
total shareholder return over a 3-year
performance period from 1 July 2024
to 30 June 2026, relative to the
company’s cost of equity and

1
The percentage is to be calculated immediately before the issue, acquisition, redemption or Conversion.

performance of the S&P/NZX50 index
over the same period.
Share Rights will lapse where the
performance hurdles are not met.
Share Rights will also lapse if the
holder ceases to be employed by
Meridian during the vesting period
subject to the Board’s discretion to
determine that Share Rights will vest
on death, redundancy, total
permanent illness, injury or any other
circumstance the Board determines.
There is no amount payable by
holders on grant or vesting of the
Share Rights or on the transfer of
shares.
Share Rights do not entitle the holder
to receive dividends or other
distributions from shares or to vote in
respect of shares.
Holders of Share Rights cannot
transfer the Share Rights.
The ordinary shares transferred upon
the vesting and exercise of Share
Rights will rank equally with all other
ordinary shares then on issue.
Reason for issue/acquisition/redemption and specific
authority for issue/acquisition/redemption/ (the reason
for change must be identified here)
Issued under the Meridian Energy
Limited Long Term Incentive Plan,
approved by the Meridian Board on 23
August 2019.
Total number of Financial Products of the Class after
the issue/acquisition/redemption/Conversion (excluding
Treasury Stock) and the total number of Financial
Products of the Class held as Treasury Stock after the
issue/acquisition/redemption.
2,226,405 Share Rights
In the case of an acquisition of shares, whether those
shares are to be held as treasury stock
N/A
Specific authority for the issue, acquisition, or
redemption, including a reference to the rule pursuant
to which the issue, acquisition, or redemption is made
Meridian Energy Limited Executive
Long Term Incentive Scheme Rules
and Board Resolution for the
purposes of Listing Rule 4.6.1, dated
11 October 2023.
Terms or details of the issue, acquisition, or redemption
(for example: restrictions, escrow arrangements)
See 'Principal terms of Conversion'
above.
The terms and details of the issue are
contained in the Meridian Energy
Limited Long Term Incentive Scheme
Rules.

Capital Change Notice

Updated as at 17 October 2021
Date of issue/acquisition/redemption
2
24 October 2023
Section 3: Authority for this announcement and contact person
Name of person

authorised to make this
announcement
Jason Woolley
Contact person for this announcement Jason Woolley
Contact phone number +64 21 309 962
Contact email address Jason.Woolley@meridianenergy.co.nz
Date of release through MAP

24 October 2023




2
Continuous issuers using this form in reliance on Rule 3.13.2, please indicate the period during which the relevant
issue/acquisition/redemptions were made (for example, 1 January 2019 to 31 January 2019).

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities
Notification of Issue, Conversion or Payment up of Unquoted
Equity Securities
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Announcement Summary
Entity name
MERIDIAN ENERGY LIMITED
Date of this announcement
Tuesday October 24, 2023
The +securities the subject of this notification are:
Total number of +securities to be issued/transferred
ASX +security
codeSecurity description
Total number of
+securities to be
issued/transferredIssue date
MEZAJPERFORMANCE SHARE RIGHTS866,24624/10/2023
Refer to next page for full details of the announcement
+Other securities issued under an +employee incentive scheme that are not intended to be quoted on ASX

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities
Notification of Issue, Conversion or Payment up of Unquoted
Equity Securities
2 / 6
Part 1 - Entity and announcement details
1.1 Name of entity
MERIDIAN ENERGY LIMITED
We (the entity named above) give notice of the issue, conversion or payment up of the following unquoted +securities.
1.2 Registered number type
ARBN
Registration number
151800396
1.3 ASX issuer code
MEZ
1.4 The announcement is
1.5 Date of this announcement
24/10/2023
New announcement

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities
Notification of Issue, Conversion or Payment up of Unquoted
Equity Securities
3 / 6
Part 2 - Issue details
2.1 The +securities the subject of this notification are:
2.2a This notification is given in relation to an issue of +securities in a class which is not quoted on ASX and
which:
has an existing ASX security code ("existing class")
+Other securities issued under an +employee incentive scheme that are not intended to be quoted on ASX

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities
Notification of Issue, Conversion or Payment up of Unquoted
Equity Securities
4 / 6
Part 3B - number and type of +securities the subject of this notification (existing class) where issue has not previously been notified to
ASX in an Appendix 3B
ASX +security code and description
MEZAJ : PERFORMANCE SHARE RIGHTS
Date the +securities the subject of this notification were issued
24/10/2023
Will these +securities rank equally in all respects from their issue date with the existing issued
+securities in that class
Were any of the +securities issued to +key management personnel (KMP) or an +associate?
Provide details of the KMP or +associates being issued +securities.
Name of KMPName of registered holderNumber of +securities
Neal BarclayNeal Barclay
142,180
Jason SteinJason Stein
46,924
Guy WaiparaGuy Waipara
49,706
Mike RoanMike Roan
59,124
Tania PalmerTania Palmer
46,924
Lisa HannifinLisa Hannifin
47,248
Chris EwersChris Ewers
37,868
Claire ShawClaire Shaw
33,784
Jason WoolleyJason Woolley
35,734
Bharat RatanpalBharat Ratanpal
36,488
Please provide a URL link for a document lodged with ASX detailing the terms of the +employee incentive scheme
or a summary of the terms
A summary of the terms of the Company's Long Term Incentive Scheme is set out in the remuneration section on pages
135-136 and Note F on page 239 of the Company's 2023 Integrated Report:
https://announcements.asx.com.au/asxpdf/20230829/pdf/05t5t4vnxn0xg4.pdf
Yes
Yes

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities
Notification of Issue, Conversion or Payment up of Unquoted
Equity Securities
5 / 6
Any other information the entity wishes to provide about the +securities the subject of this notification
Issue details
Number of +securities
866,246

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities
Notification of Issue, Conversion or Payment up of Unquoted
Equity Securities
6 / 6
Part 4 - +Securities on issue
Following the issue, conversion or payment up of the +securities the subject of this application, the +securities of
the entity will comprise:
(A discrepancy in these figures compared to your own may be due to a matter of timing if there is more than one
application for quotation/issuance currently with ASX for processing.)
4.1 Quoted +Securities (Total number of each +class of +securities quoted)
ASX +security code and description
Total number of
+securities on issue
MEZ : ORDINARY FULLY PAID FOREIGN EXEMPT NZX1,266,374,569
4.2 Unquoted +Securities (Total number of each +class of +securities issued but not quoted on ASX)
ASX +security code and description
Total number of
+securities on issue
MEZAK : TREASURY STOCK1,565,008
MEZAI : ORDINARY FULLY PAID1,318,674,646
MEZAJ : PERFORMANCE SHARE RIGHTS2,226,405