Capital Change Notice

Release






Meridian Energy Limited (ARBN 151 800 396) A company incorporated in New Zealand
Level 2, 98 Customhouse Quay, Wellington 6011

meridianenergy.co.nz
Stock Exchange Listings NZX (MEL) ASX (MEZ)
Capital Change Notice


10 December 2025
Meridian Energy Limited provides the attached Capital Change Notice pursuant to NZX listing rule
3.13.1. This notice relates to the acquisition of 265,399 ordinary shares in connection with the FY26
equity plans buyback announced on 1 December 2025.
ENDS

Authorised for release by:

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:
Lachlan Forsyth
Media & Content Manager
021 243 5342

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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 Ordinary Shares
ISIN (If unknown, check on NZX website) NZMELE0002S7
Currency NZD
Section 2: Capital change details
Number issued/acquired/redeemed 265,399
Nominal value (if any) N/A
Issue/acquisition/redemption price per security $5.6126
Nature of the payment (for example, cash or other
consideration)
Cash
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

0.0101%
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)
N/A
Reason for issue/acquisition/redemption and specific
authority for issue/acquisition/redemption/ (the reason
for change must be identified here)
Under the Meridian Energy Limited
long term incentive scheme (Scheme),
approved by the Meridian Board on 23
August 2019, Meridian issues to
participants of the Scheme rights to
acquire ordinary shares in the
Company (Share Rights).
From 1 July 2025, Meridian has
introduced a Deferred Equity short-
term incentive Plan (Deferred STI
Plan) for the Chief Executive and
Executive employees. Payments
under the Deferred STI Plan will be
made in equity and will be deferred for
two years following the end of the
performance year. Meridian will meet

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

its obligations under the equity plans
by the Buyback, holding these shares
as treasury stock, and transferring
shares to the Participants if the
Vesting and Award Conditions on the
equity plans are met. The acquisition
of Meridian shares was approved by
the Meridian Board on 20 October
2025
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.
2,638,773,336 Ordinary Shares

1,824,495 Treasury Stock

2,132,166 Performance Share Rights
In the case of an acquisition of shares, whether those
shares are to be held as treasury stock
Yes
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 Board
resolution for the purposes of Listing
Rule 4.14.1, dated 20 October 2025.
Terms or details of the issue, acquisition, or redemption
(for example: restrictions, escrow arrangements)
N/A
Date of issue/acquisition/redemption
2
9 December 2025
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

10 December 2025




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).