Meridian Energy cancels performance share rights due to employment cessation

Meridian Energy Limited (MEL) has cancelled 18,914 Performance Share Rights, classified as a capital change effective November 21, 2025. This action results from the operation of the Meridian Energy Limited Long Term Incentive Scheme Rules, specifically due to a cessation of employment. No consideration was payable for these cancellations, and the nominal value of the cancelled rights was nil.

The cancellation represents a 0.0007% decrease in the total class of financial products, excluding any treasury stock. Following this change, the total number of ordinary shares remains 2,639,273,336, with 1,324,495 held as treasury stock. The total number of Performance Share Rights after the cancellation stands at 2,132,166.

The specific authority for this cancellation was the Meridian board’s approval on August 23, 2019, for the Long Term Incentive Plan. Jason Woolley is the authorised person for this announcement, released through MAP on November 24, 2025.