Meridian Energy Limited · NZX:MEL
Meridian Energy — Investor Presentation (October 2026)
16 slides from Meridian Energy's investor presentation, Oct 5, 2026
Slide 1: Corporate Governance Presentation
Release For personal use only Stock Exchange Listings NZX (MEL) ASX (MEZ) Corporate Governance Presentation 5 October 2026 Attached is a Meridian Energy Limited corporate governance presentation the Company’s Directors are making this week. ENDS Authorised for release by: Jason Woolley General Couns
Slide 2: 2026 Governance Roadshow
2026 rsonal use only Governance Roadshow 5-7 OCTOBER 2026 7 cm
Slide 3: Meridian Board
Meridian Board Tania Simpson Appointed August 2021. Julia Hoare Appointed September 2019. Chair People, Remuneration Chair Audit and Financial Graham Cockroft Appointed July 2022. Fraser Whineray Appointed September 2026. 2026 election. and Culture Committee. Risk Committee. David Carter Appointed J
Slide 4: Director skills matrix
Director skills matrix ◼︎primary focus ◼︎secondary focus As at 30 June 226 Mark Julia Nagaja Tania Graham David Fraser Whineray has Strategic focus been appointed as a Verbiest Hoare Sanatkumar Simpson Cockroft Carter Director with effect from 28 September 2026 and Capital markets, corporate finance
Slide 5: Key governance metrics
Key governance metrics 1Safety, Sustainability and Operational Risk 2People, Remuneration and Culture 3Audit and Financial Risk Annual director fee pool and breakdown FY25 FY26 A&FR3 PR&C SS&OR Board Meeting attendance Committee Committee Committee Board fees $950,500 $900,881 Number of meetings 9 5
Slide 6: Our strategy map: FY26 progress
Our strategy map rsonal use only FY26 PROGRESS 2026 GOVERNANCE ROADSHOW 5-7 OCTOBER 2026 PAGE 5
Slide 7: FY27 focus: Grow renewable generation and firming capacity
FY27 focus Grow renewable generation and firming capacity Key initiatives FY27 targets Accelerate Aotearoa NZ’s decarbonisation by delivering Reach FID for two new generation developments scale energy projects at pace Consents: gain two and lodge one • Build renewable generation options Waitaki reco
Slide 8: FY27 focus: Deliver operational excellence
FY27 focus Deliver operational excellence Key initiatives FY27 targets Build operational flex and agility while sustaining excellent Deliver $6m in value including at least $2m of expenditure reductions through DigiGEN asset productivity Deliver critical asset health projects safely and realise proj
Slide 9: Waitaki project upgrade
Waitaki project upgrade Meridian has committed to upgrading the 92-year-old Waitaki hydro power station. The investment will deliver a full mechanical and electrical rsonal use only upgrade of all seven generating units. $440M to $510M (nominal) investment over a 10-year period, delivering a 15%-20%
Slide 10: Renewable Development
Renewable Development Cumulative GWh of new generation (from full power date) Total Wind Solar 6,384 GWh Wind Solar Total 6,000 Manawatū Wind Constructed 542 - 542 rsonal use only Western Bays Solar (Stage 2) In construction - 702 702 5,000 Consented 1,110 617 1,727 Waiinu Solar Currently in consent
Slide 11: Risk management
Risk management Meridian operates an active programme to Material Risk Climate Related Disclosure Link ensure ongoing risk management. Physical Risk 2: Changing seasonal weather patterns increases Adverse hydrological conditions The Risk Management Framework, Policy hydro inflow volatility. and Guid
Slide 12: Climate related disclosures
Climate related disclosures rsonal use only 2026 GOVERNANCE ROADSHOW 5-7 OCTOBER 2026 PAGE 11
Slide 13: Meridian Executive
Meridian Executive Claire Shaw Jason Woolley Lisa Hannifin Bharat Ratanpal Guy Waipara General Manager Development Rory Blundell General Manager General Counsel & Chief Customer Chief Information General Manager Corporate Affairs & Company Secretary Officer Officer Mike Roan Strategy & Portfolio Sus
Slide 14: Chief Executive remuneration
Chief Executive remuneration FY25 FY26 FY27 Total remuneration earned 60% weighted on financial Total remuneration package (Neal Barclay) (Mike Roan) (Mike Roan) measure of EBITDAF less Base salary $1,433,000 $1,123,870 capital charge outcome Base salary $1,180,064 KiwiSaver on base salary $57,320 $
Slide 15: FY27 Executive Scorecard
FY27 Executive Scorecard Category FY27 objective Measure Adequate (<75%) Target outcome – good (75%) Excellent (>75%) Weighting Financial Deliver sustainable value Key measure: If this category’s outcome is (Not disclosed) The outcome must 20% (in addition to the and attract investors Operating expe
Slide 16: Disclaimer
Disclaimer The information in this presentation was prepared by Meridian Energy these measures may differ from similarly titled measures presented by with due care and attention. However, the information is supplied in other companies and they should not be considered in isolation from, or summary f
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