2021 Investor Day Presentation

Meridian. Improving retention and market leading brand Meridian continues to enjoy trader churn rates significantly below the market average Powershop's programme of 'churn busting' work has delivered substantial improvements to its churn rate Brand health continues to remain strong in both brands - providing a platform for us to continue sustained growth 12 month rolling average trader churn 12% 10% 8% 6% 4% I've been with you for many years and have no reason to change. If people come from other companies and want me to change I tell them I'm not interested as very happy with meridian. Source: Meridian 2% Feb-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19 Oct-19 Nov-19 -Powershop Dec-19 -Meridian Energy Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Weighted Market Average Source: Electricity Authority 11 MAY 2021 2021 INVESTOR DAY PRESENTATION | 15

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