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

23 October 2024
Meridian Energy Limited provides the attached Capital Change Notice pursuant to NZX listing rule
3.13.1. This Notice relates to the issue of 863,878 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
Head of Communications
027 838 5710

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Template
Capital Change Notice

Updated as at June 2023

Please do not amend or delete individual rows. As this template relates to prescribed content, changes to content
should only be made where it is clearly indicated that this is permitted, otherwise, if an Issuer considers a particular
element does not apply, mark the row as N/A, Any other changes to this prescribed form must first be approved by
NZX as required under NZX Listing Rule 3.26.1.

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 863,878
Nominal value (if any) N/A
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)
N/A
Amount paid up (if not in full) N/A
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, 0.0331% 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

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

period from 1 July 2025 to 30 June
2027, relative to the company’s cost of
equity and 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.
2,606,798,618 Ordinary Shares
1,865,008 Treasury Stock
3,090,283 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
14 October 2024.
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.
Date of issue/acquisition/redemption
2
23 October 2024

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).

Template
Capital Change Notice

Updated as at June 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

23 October 2024

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Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities
Appendix 3G - 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
Wednesday October 23, 2024
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 RIGHTS863,87823/10/2024
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

Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities
Appendix 3G - 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
23/10/2024
New announcement

Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities
Appendix 3G - 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

Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities
Appendix 3G - 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
23/10/2024
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
171,286
Guy WaiparaGuy Waipara
45,172
Mike RoanMike Roan
57,532
Tania PalmerTania Palmer
43,538
Chris EwersChris Ewers
34,414
Lisa HannifinLisa Hannifin
46,028
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
91-95 and Note F on pages 170-171 of the Company's 2024 Integrated Report:
https://announcements.asx.com.au/asxpdf/20240828/pdf/06742ry305r77j.pdf
Any other information the entity wishes to provide about the +securities the subject of this notification
Issue details
Number of +securities
863,878
Yes
Yes

Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities
Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities
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Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities
Appendix 3G - 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 notification, the +securities of
the entity will comprise:
The figures in parts 4.1 and 4.2 below are automatically generated and may not reflect the entity's current issued capital if
other Appendix 2A, Appendix 3G or Appendix 3H forms are currently with ASX for processing.
4.1 Quoted +securities (Total number of each +class of +securities issued and quoted on ASX)
ASX +security code and description
Total number of
+securities on issue
MEZ : ORDINARY FULLY PAID FOREIGN EXEMPT NZX1,275,915,661
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 STOCK1,865,008
MEZAI : ORDINARY FULLY PAID1,330,882,957
MEZAJ : PERFORMANCE SHARE RIGHTS3,090,283