FY26 Q2 Performance Report and Updated Guidance

MARKET RELEASE
Date: 23 January 2026
NZX: GNE / ASX: GNE
FY26 Q2 Performance Report and Updated Guidance

Genesis Energy delivered a solid second-quarter performance for FY26, reflecting the value of
Genesis’s portfolio flexibility and active portfolio management / optimisation in a period of favourable
system conditions. Genesis customer position, strong hydrology and fuel management supported
increased flexibility. This led to record-low thermal generation and, coupled with targeted gas
monetisation, supported margin quality and strong overall financial performance during the quarter.

Q2 FY26 Performance Highlights:

• Hydro generation of 740 GWh (+21 GWh on pcp), supported by favourable hydrological
conditions and strong plant availability.
• Genesis lake levels increased from 88% of average at 30 September to 122% of average at 31
December, enhancing dispatch optionality and enabling value-based generation decisions.
• Thermal generation of 85 GWh, a record low for the quarter, reflecting disciplined dispatch and
deliberate minimisation of higher-cost generation in response to strong hydro conditions.
• Thermal generation of 869 GWh for the six months ended 31 December, a record low for a half-
year period, demonstrating sustained portfolio optimisation across H1.
• Portfolio flexibility enabled incremental gas monetisation through increased sales to industrial
customers, capturing value from surplus gas during the period.
• Electricity netbacks of $159/MWh reflected normalisation from Q1, with margin quality
supported by disciplined pricing and portfolio optimisation.
• Billing and CRM re-platform Release 1 was successfully delivered for approximately 50,000
customers, with Release 2 on track.

Strategic and Operational Progress:

• Continued advancement of the renewable development pipeline, with progress across onshore
wind, solar and battery projects supporting future portfolio flexibility and growth.
• Transpower connection application submitted for the ~300 MW Castle Hill wind project, with
more than 200 MW of early-stage onshore wind opportunities under review.
• Framework agreement executed with Yinson Renewables, providing exclusive rights to equity
and/or offtake participation across a >1 GW onshore wind pipeline.
• Final Investment Decision delivered for the 136 MWp Edgecumbe solar farm and acquisition
completed for the 271 MWp Rangiriri solar project.
• Huntly BESS Stage 1 remains on track and on budget for Q1 FY27 commercial operations,
enhancing future system and portfolio flexibility.
• Continued focus on late-life optimisation and cost efficiency across Huntly and Kupe operations.

FY26 Outlook and Guidance Update

Genesis Energy has updated its FY26 Normalised EBITDAF guidance, reflecting its strong performance
across the first half of FY26.

Normalised EBITDAF guidance for FY26 has been increased to $490 million–$520 million, compared
with the prior guidance range of $455 million–$485 million. All other FY26 guidance remains
unchanged.

The guidance update was driven primarily by margin quality through optimising Genesis’s flexibility.
This was partially offset by higher operating costs as Gen35 was executed. FY26 H2 EBITDAF is
expected to be broadly consistent with prior guidance assumptions.

Genesis’ updated FY26 outlook remains supported by its diversified portfolio, active management of
hydro and thermal fuel flexibility, and continued focus on margin quality and cost discipline. The
Company will provide further details at its Half Year Results in February.

Genesis Energy remains well positioned to deliver against FY26 guidance, supported by its diversified
portfolio, disciplined capital allocation and continued execution of its Gen35 strategy.

ENDS


For investor relations enquiries, please contact:
David Porter
Investor Relations Manager
M: 020 4184 1186

For media enquiries, please contact:
Graeme Muir
Group Manager Communications
M: 02 7 202 4885

About Genesis Energy:

Genesis Energy (NZX: GNE, ASX: GNE) is a diversified New Zealand energy company. Genesis sells
electricity, reticulated natural gas and LPG and is one of New Zealand's largest energy retailers with
over 520,000 customers. The Company generates electricity from a diverse portfolio of thermal and
renewable generation assets located in different parts of the country. Genesis also has a 46% interest
in the Kupe Joint Venture, which owns the Kupe Oil and Gas Field offshore of Taranaki, New Zealand.
Genesis had revenue of NZ$3.7 billion during the 12 months ended 30 June 2025. More information
can be found at www.genesisenergy.co.nz.

---

FY26 Q2
Performance Report
Tekapo A

Disclaimer
This report has been prepared by Genesis Energy Limited
(“Genesis Energy”) or (“the Company”) for information
purposes only and relates to the operational performance of
the Company for the third quarter of the financial year ending
30 June 2025. The information contained in this report is
unaudited.
This disclaimer applies to this report. For these purposes,
“report” means this document and the information contained
within it, as well as the verbal or written comments of any
person presenting it.
This report is of a general nature and does not purport to
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This report might contain forward-looking statements.
Forward-looking statements could include projections and
may include statements regarding Genesis Energy’s intent,
belief or current expectations in connection with its future
operating or financial performance or market conditions.
Forward-looking statements in this report may also include
statements regarding the timetable, conduct and outcome
of the general strategy of Genesis Energy, statements about
the plans, targets, objectives and strategies of Genesis Energy,
statements about the industry and the markets in which
Genesis Energy operates and statements about the future
performance of, and outlook for, Genesis Energy’s business.
Any indications of, or guidance or outlook on, future earnings
or financial position or performance and future distributions
are also forward-looking statements.
Forward-looking statements in this report are not guarantees
or predictions of future performance, are based on current
expectations and involve risks, uncertainties, assumptions,
contingencies and other factors, many of which are outside
Genesis Energy’s control, are difficult to predict, and which
may cause the actual results or performance of Genesis
Energy to be materially different from any future results or
performance expressed or implied by such forward-looking
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relation to forward-looking statements that relate to longer
timeframes, as such statements may incorporate a greater
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no warranty or representation in relation to any forward-
looking statement, its future financial performance or any
future matter. Forward-looking statements speak only as of
the date of this report.
Forward-looking statements can generally be identified by
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and continuous disclosure announcements released to NZX,
which are available at www.nzx.com.
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Energy accepts no responsibility for any errors or omissions,
and no representation is made as to the accuracy,
completeness or reliability of the information, in this report.
This report does not constitute financial, legal, financial,
investment, tax or any other advice or a recommendation
and nothing in this report should be construed as an invitation
for any subscription for, or purchase of, securities in Genesis
Energy.
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Except as required by law, or the rules of any relevant
securities exchange or listing authority, Genesis Energy is
not under any obligation to update this report at any time
after its release, whether as a result of new information,
future events or otherwise.
23 Oct 2025 – Quarterly Performance Report
Genesis Energy Limited FY26 Q2 Performance Report 2.

Retail
1,455 GWh
Total Electricity Sales
WholesaleKupe
2
22 GWh increase on pcp
1
495,706
Total Customers
4
4.0% decrease on pcp
$159/MWh
Electricity Netback
2.9% decrease on pcp
740 GWh
Hydro Generation
21 GWh increase on pcp
241 GWh
PPA Electricity Generation
3
Thermal Generation
201 GWh decrease on pcp
1.PCP refers to Q2 FY25 unless otherwise stated.
2.Represents Genesis’ 46% share of Kupe JV volumes.
3.Includes JV and third party PPAs
4.In line with strategic focus on margin quality, we moved to one brand under Genesis, with the amalgamation of Frank and Ecotrici ty’s product ranges
1.5 PJ
0.03 PJ increase on pcp
6.1 kt
0.5 kt decrease on pcp
85 GWh
Oil Production
Kupe LPG Sales
Kupe Gas Sales
112 GWh increase on pcp
31 kbbl
18% increase on pcp
Prices, volumes and financials in this report are unaudited and subject to change. Reported numbers have been rounded and might not appear to add or multiply.
FY26 Q2 Performance Highlights
Genesis Energy Limited FY26 Q2 Performance Report 3.

Billing & CRM Re-platform
•Release 1 live for 50,000 customers
•Release 2 on track
Customer Flexibility
•Remains on track
Electrification of Transport
•EV Plan net growth of 25% againstpcp
•Customers on Genesis EV plans exceed 14k
•ChargeNet delivered ~200k charging sessions to drivers
nationwide – up 12% againstpcp
Onshore Wind
•Transpower connection submission for Castle Hill (~300 MW).
•>200 MW of early-stage opportunities under review
•Yinson framework agreement executed - exclusive rights to
equity &/or offtake participation in Yinson Renewables’ >1,000
MW onshore wind pipeline.
•15-year PPA signed for 70% offtake of Mt Cass Wind Farm
(95MW)
Offshore Wind
•MOU signed with Taranaki Offshore Partners to explore
commercial viability of offshore wind & offtake
Solar
•FID achieved for Edgecumbe solar farm (136 MWp)
•Rangiriri solar farm acquisition completed (271 MWp)
BESS
•Huntly Stage 1 on track & on budget. Construction progressing
to Q1 FY27 commercial operation target.
Gas
•MOU signed with Tariki JV to accelerate studies & execution of
the Tariki project. Subsurface studies progressing
•Market conditions enabled an extended Unit 5 shutdown, with
gas redirected via a wholesale customer agreement
•Further seasonal flex contract signed with industrial for
winter/summer swap in 2026.
Biomass
•Carbona received $2.5m ECCA funding & secured WPI site.
•Tripartite agreement with CIP & Carbona in progress
•MOU with Airex & Kaingaroa Tipu in progress
•Term sheet with Natures Flame in progress
Gen35: FY26 Q2 Progress
Customer
Genesis Energy Limited FY26 Q2 Performance Report 4.
Digital
Investment
On track to deliver “Big Rock” initiatives within the $145m
1
envelope:
•Retail Billing & CRM modernisation
•Finance Management System replacement
•Wholesale & Markets Trading systems upgrades
1.Phasing of project spend between FY26/FY27 years is evolving in line with different phases of delivery; $145m excludes ~$15m annualised
spend for on-going digital programme; $145m is subject to SaaS accounting conventions & is gross of any costs deferred to prepayments
RenewablesFlexibility

Huntly
Hydro Schemes
Commercial Businesses
Q2 Performance:
•Hydro Generation of 740 GWh (+3% vs pcp).
•Genesis lake levels increased from 88% average at 30
September to 122% of average at 31 December 2025
•Tekapo generation of 133 GWh for December, a record high
for the month.
Planned outage campaigns in progress include:
•Kaitawa G6 penstock recoating &main inlet valve
refurbishment.
•Rangipo G6 overhaul – turbine, governor, main inlet valve
•Piripaua G5 external penstock coating (from 12 Jan)
Other:
•Tekapo Power Scheme consent approval by the Fast Track
panel permitting the ongoing operation of the Tekapo Power
Scheme.
Huntly planned outage campaigns in process, include:
•Unit 2 cold survey.
•Unit 5 hot inspection (completed December 2025).
Coal
•Development of the next iteration of Huntly Firming Options
(HFOs), offering contract for terms of two to three years
•Successful application by the University of Canterbury to the
Applied Doctorate Scheme for biomass ash studies. Genesis
will support a secure ash disposal route through the energy
transition.
•Fly-ash disposal reuse options are under review with Golden
Bay Cement.
Generation
•Thermal generation of 85 GWh, a record low for the quarter.
•Thermal generation of 869 GWh for the 6 months ended 31
Dec, a record low for the half year.
LPG:
•Two new LPG depots progressing:
Drury: on track for commissioning March 2026
Dunedin: in detailed design phase
•New LPG bobtail tanker on track for Q3 deployment.
•Total LPG Retail Sales 9.48 kt.
Kupe JV:
•Production is steady & continues in line with the operator’s
forecast
•Late life optimisation & cost reduction opportunities
progressing well.
FY26 Q2 Operational Update
Genesis Energy Limited FY26 Q2 Performance Report 5.

Lauriston Solar Farm – Canterbury Plains
ProjectCapacity / DurationStatusTotal Project CapexCommentary
Operational63 MW$104m
Lauriston solar farm63 MW
DC
Operating$104m
(1)
Operational
Committed growth capex236 MW$371m
Huntly BESS stage 1100 MW / 2HrsUnder construction$135mOn track / on budget
Edgecumbe solar farm136 MW
DC
FID delivered
$236m
On track / on budget
Progressed growth opportunities
(2)(3)
638 MW
$1,000 – 1,080m
Huntly BESS stage 2100 MW / 2HrsConsented
$110 –130m
On track / on budget
Leeston solar farm67 MW
DC
Consented
$100 - 120m
On track / on budget
Rangiriri solar farm271 MW
DC
Consented
$470 – 490m
On track / on budget
Foxton solar farm200 MW
DC
Fast-track consenting
$320 - 340m
On track / on budget
Discretionary growth opportunities~550 – 600 MW$820 – 1,100m
Gas storageN/AUnder active review
$820 – 1,100m
Discussions ongoing
BiomassN/AUnder active reviewDiscussions ongoing
Huntly unit 7 peaker~50 – 100 MWUnder active reviewNo decision made
Castle hill wind farm300 MWConsentedOn track / on budget
Early-stage wind prospects~200 MWEarly-stage prospectingDiscussions Ongoing
Early-stage hydro enhancementN/AEarly-stage prospectingDiscussions Ongoing
PPA 136 MW
Tauhara geothermal63 MW
(4)
OperatingOperational
Kaiwaikawe wind farm73 MWUnder constructionNo further update
Mt. Cass wind farm95 MWFID deliveredNo further update
Joint Equity/PPA~1,000 MW
Yinson wind pipeline~1,000 MWEarly-stage equity optionsExclusive agreement executed
Notes: (1) Project financed with ~$13m equity funding by Genesis; (2) Genesis is targeting 500 MW of solar opportunities; (3) Huntly Rankine Extension included in SIB capex; (4) Genesis’ share.
Development Pipeline & Progress
Genesis Energy Limited FY26 Q2 Performance Report 6.

FY26 Q2 Operating Performance
Genesis Energy Limited FY26 Q2 Performance Report 7.
1
Methodology changed in Q4 FY25 to include volumes generated from customers’ rooftop solar. Prior periods unadjusted as impact is immaterial.
Prices, volumes and financials in this report are unaudited and subject to change. Reported numbers have been rounded and might not appear to add or multiply.
Q2 FY26Q2 FY25VarianceYTD FY26YTD FY25
ELECTRICITYVolumeRate per unit$m VolumeRate per unit$m VolumeRate per unit$m
Volume
Rate per unit$m VolumeRate per unit$m
Retail Resi Electricity601 GWh$360/MWh216.2648 GWh$316/MWh204.9(47) GWh$43/MWh11.21,521 GWh$336/MWh511.71,618 GWh$295/MWh477.4
Retail SME Electricity244 GWh$326/MWh79.8260 GWh$274/MWh71.4(16) GWh$52/MWh8.4499 GWh$322/MWh160.6530 GWh$270/MWh143.1
Retail C&I Electricity414 GWh$181/MWh75.0455 GWh$161/MWh73.0(40) GWh$21/MWh2.0871 GWh$225/MWh196.0900 GWh$199/MWh178.8
Ecotricity Electricity195 GWh$292/MWh56.970 GWh$197/MWh13.8125 GWh$94/MWh43.1437 GWh$309/MWh134.970 GWh$197/MWh13.8
Total Retail Sales1,455 GWh$294/MWh427.91,433 GWh$253/MWh363.122 GWh$41/MWh64.83,329 GWh$301/MWh1,003.33,119 GWh$261/MWh813.1
Wholesale Electricity Sales
1
839 GWh$44/MWh36.91,004 GWh$49/MWh49.0(165) GWh$(5)/MWh(12.0)2,534 GWh$107/MWh271.02,975 GWh$241/MWh715.8
Total Derivative Settlements(33.8)(8.8)(25.0)(0.9)(25.0)
Generation Costs - Thermal85 GWh$200/MWh17.0286 GWh$159/MWh45.3(201) GWh$41/MWh(28.3)869 GWh$158/MWh137.21,567 GWh$142/MWh222.7
Generation Costs - Renewable740 GWh-0.0719 GWh-0.021 GWh-0.01,644 GWh-0.01,408 GWh-0.0
Generation Costs - Total825 GWh$21/MWh17.01,004 GWh$45/MWh45.3(180) GWh$(25)/MWh(28.3)2,513 GWh$55/MWh137.22,975 GWh$75/MWh222.7
Retail Purchases
Retail Purchases1,543 GWh$41/MWh63.91,501 GWh$43/MWh65.142 GWh$(2)/MWh(1.1)3,509 GWh$97/MWh340.53,279 GWh$196/MWh642.3
Transmission and Distribution Costs180.5151.928.6396.1325.6
GASVolumeRate per unit$m VolumeRate per unit$m VolumeRate per unit$m
Volume
Rate per unit$m VolumeRate per unit$m
Retail Resi Gas0.5 PJ$72.1/GJ33.50.5 PJ$61.1/GJ27.80.0 PJ$11.0/GJ5.71.3 PJ$58.9/GJ75.81.4 PJ$48.8/GJ67.1
Retail SME Gas0.3 PJ$40.7/GJ10.20.3 PJ$36.4/GJ12.3(0.1) PJ$4.3/GJ(2.1)0.7 PJ$38.9/GJ28.40.9 PJ$31.6/GJ27.3
Retail C&I Gas0.3 PJ$29.3/GJ8.80.7 PJ$34.5/GJ23.8(0.4) PJ$(5.2)/GJ(15.0)1.1 PJ$33.8/GJ38.51.7 PJ$28.5/GJ47.7
Total Retail Sales1.0 PJ$51.7/GJ52.51.5 PJ$43.1/GJ63.9(0.5) PJ$8.6/GJ(11.4)3.2 PJ$45.3/GJ142.73.9 PJ$36.3/GJ142.0
Wholesale Sales2.7 PJ$13.8/GJ36.61.5 PJ$8.1/GJ12.41.1 PJ$5.8/GJ24.22.7 PJ$13.7/GJ37.31.6 PJ$8.1/GJ12.6
Cost of Gas3.7 PJ$11.4/GJ41.63.0 PJ$12.4/GJ37.50.6 PJ$(1.0)/GJ4.25.9 PJ$12.7/GJ74.65.5 PJ$13.5/GJ73.9
Transmission and Distribution Costs20.926.6(5.7)52.357.5
LPGVolumeRate per unit$m VolumeRate per unit$m VolumeRate per unit$m
Volume
Rate per unit$m VolumeRate per unit$m
Bottled LPG Sales4.0 kt$3,555/t14.34.3 kt$3,512/t15.2(0.3) kt$43/t(0.8)9.4 kt$3,491/t32.810.4 kt$3,412/t35.6
SME & Other Bulk LPG Sales5.5 kt$2,322/t12.76.0 kt$1,922/t11.5(0.5) kt$399/t1.212.4 kt$2,271/t28.213.7 kt$1,918/t26.2
Total Retail Sales9.5 kt$2,846/t27.010.3 kt$2,590/t26.7(0.8) kt$256/t0.321.8 kt$2,797/t61.024.1 kt$2,565/t61.8
Wholesale LPG Sales0.7 kt$829/t0.60.9 kt$1,028/t0.9(0.2) kt$(199)/t(0.3)1.3 kt$965/t1.21.9 kt$1,046/t2.0
LPG Cost10.2 kt$1,211/t12.311.2 kt$1,018/t11.4(1.0) kt$193/t1.023.1 kt$1,239/t28.626.0 kt$1,014/t26.4
KUPEVolumeRate per unit$m VolumeRate per unit$m VolumeRate per unit$m
Volume
Rate per unit$m VolumeRate per unit$m
Oil Sales11.0 Kbbl$137.1/bbl1.543.8 Kbbl$104.7/bbl4.6(32.8) Kbbl$32.4/bbl(3.1)54.2 Kbbl$112.3/bbl6.1119.3 Kbbl$108.4/bbl12.9
Gas Sales1.5 PJ$13.5/GJ20.21.5 PJ$8.1/GJ11.80.0 PJ$5.4/GJ8.43.1 PJ$13.5/GJ41.53.3 PJ$8.3/GJ27.4
LPG Sales6.1 kt$654/t4.06.6 kt$557/t3.7(0.5) kt$97/t0.313.7 kt$688/t9.414.6 kt$546/t8.0

FY26 Q2 Operating Metrics
Genesis Energy Limited FY26 Q2 Performance Report 8.
Prices, volumes and financials in this report are unaudited and subject to change. Reported numbers have been rounded and might not appear to add or multiply.
RETAIL SEGMENTQ2 FY26Q2 FY25% ChangeVar.Q1 FY26% ChangeVar.YTD FY26YTD FY25
RETAIL
Brand Net Promoter Score - Genesis Energy
1925(24.0%)(6)1618.8% 3
Interaction Net Promoter Score - Genesis Energy4756(16.1%)(9)439.3% 4
Gross Customer Churn (3 month rolling average, %)21.0% 19.8% 5.7% 1.1% 21.6% (3.1%)(0.7%)
Net Customer Churn (3 month rolling average, %)14.0% 12.2% 14.7% 1.8% 15.2% (8.0%)(1.2%)
Electricity Netback ($/MWh)$158.9 $134.7 18.0%$24.2 $181.4 (12.4%)($22.5)$171.6 $147.3
Gas Netback ($/GJ)$28.7 $25.1 14.3%$3.6 $27.2 5.5%$1.5 $27.6 $21.5
LPG Netback ($/t)$1,562.6 $1,444.2 8.2%$118.4 $1,644.9 (5.0%)($82.2)$1,609.1 $1,552.6
CUSTOMER NUMBERS
Customers > 1 Fuel
135,854 148,240 (8.4%)(12,386)133,042 2.1%2,812 135,854 148,240
Electricity Only Customers317,278 329,558 (3.7%)(12,280)324,310 (2.2%)(7,032)317,278 329,558
Gas Only Customers10,379 10,131 2.4%248 12,564 (17.4%)(2,185)10,379 10,131
LPG Only Customers32,195 28,383 13.4%3,812 32,849 (2.0%)(654)32,195 28,383
Total Customers495,706 516,312 (4.0%)(20,606)502,765 (1.4%)(7,059)495,706 516,312
Electricity ICPs Active-Occupied528,103 554,178 (4.7%)(26,075)532,250 (0.8%)(4,147)528,103 554,178
Gas ICPs Active-Occupied99,913 107,718 (7.2%)(7,805)101,770 (1.8%)(1,857)99,913 107,718
LPG Customer Connections (#) 87,415 88,998 (1.8%)(1,583)86,233 1.4%1,182 87,415 88,998
Total ICPs715,431 750,894 (4.7%)(35,463)720,253 (0.7%)(4,822)715,431 750,894
WHOLESALE SEGMENTQ2 FY26Q2 FY25% ChangeVar.Q1 FY26% ChangeVar.YTD FY26YTD FY25
GENERATION
Generation Emissions (ktCO2)
66 145 (54.2%)(79)439 (84.9%)(373)506 1,129
Generation Carbon Intensity (tCO2/GWh)80 144 (44.2%)(64)260 (69.1%)(180)201 379
Rankine Output (GWh)67 48 38.7% 19 175 (61.7%)(108)242 812
Rankines Fueled by Coal (%)14% 21% (33.2%)(7%)88% (84.5%)(75%)65% 86%
Total Gas Purchases (PJ)4.4 5.3 (16.7%)(0.9)7.2 (38.0%)(2.7)11.6 12.4
Total Coal Purchases (PJ)1.6 6.9 (77.0%)(5.3)9.2 (82.8%)(7.6)10.8 14.7
Electricity CFD Purchases - Wholesale (GWh)477 506 (5.7%)(29)395 20.5% 81 872 800
Electricity CFD Purchase Price - Wholesale ($/MWh)$130 $125 3.9%$5.0 $209 (37.7%)($79.0)$166 $145
Electricity CFD Sales - Wholesale (GWh)205 327 (37.3%)(122)470 (56.4%)(265)674 753
Electricity CFD Sale Price - Wholesale ($/MWh)$159 $145 9.6%$14.0 $232 (31.4%)($73.0)$210 $174
Gas Used In Internal Generation (PJ)1.0 2.4 (58.8%)(1.4)4.9 (79.6%)(3.9)5.9 7.2
Weighted Average Gas Burn Cost ($/GJ)$13.3 $16.1 (17.3%)($2.8)$15.7 (15.3%)($2.4)$15.3 $16.1
Coal Used In Internal Generation (PJ) 0.1 0.1 (7.6%)- 1.8 (92.9%)(1.7)1.9 7.6
Weighted Average Coal Burn Cost ($/GJ)$11.6 $11.2 3.6% $0.4 $11.6 0.2% $0.0 $11.6 $9.3
Operational Coal Stockpile - closing balance (kilotonnes)515 492 4.7% 23 894 (42.4%)(379)515 492
Security Products - coal equivalent energy secured (kilotonnes)616 80 670.0% 536 166 271.1% 450 616 80
POWER PURCHASE AGREEMENTS
Electricity (GWh)
241 129 86.3% 112 258 (6.6%)(17)499 252
Average Price Received for PPA - GWAP ($/MWh)$23.58 $23.74 (0.7%)($0.16)$118.32 (80.1%)($94.74)$72.57 $123.90

1.The severity and classification of injuries are subject to change based on medical assessment and acceptance by ACC. This may result in historical restatement.
FY26 Q1 Operating Metrics
Genesis Energy Limited FY26 Q2 Performance Report 9.
Prices, volumes and financials in this report are unaudited and subject to change. Reported numbers have been rounded and might not appear to add or multiply.
1263
1209
1196
1189
1150
1156
1179
1275
63
65
68
71
0
41
75
93
80
129
126
122
88
1,304
1,284
1,289
1,332
1,345
1,350
1,372
1,363
1000
1050
1100
1150
1200
1250
1300
1350
1400
Q3Q4FY25 Q1Q2Q3Q4FY26 Q1Q2
FTE Split
Core FTEEcotricity FTEDigital Projects FTETotal FTE
KUPE SEGMENTQ2 FY26Q2 FY25% ChangeVar.Q1 FY26% ChangeVar.YTD FY26YTD FY25
Oil Production (kbbl)
31 32 (2.9%)(1)32 (5.3%)(2)63 71
Average Brent Crude Oil (USD/bbl)$63.7 $74.7 (14.7%)($11.0)$69.1 (7.8%)($5.4)$66.4 $77.4
LPG Production (kt)6.6 6.5 1.9%0.1 7.0 (5.3%)(0.4)13.5 14.5
LPG Production Yield (t/TJ)4.4 4.4 (0.1%)- 4.4 (0.2%)- 4.4 4.4
OTHERQ2 FY26Q2 FY25% ChangeVar.Q1 FY26% ChangeVar.YTD FY26YTD FY25
CORPORATE
Employees FTE
1,292 1,270 1.7%22 1,307 (1.1%)(15)1,292 1,270
Contractors FTE71 62 14.5%9 65 9.5%6 71 62
Total FTE1,363 1,332 2.3%31 1,372 (0.6%)(9)1,363 1,332
Total Recordable Injuries6 8 (25.0%)(2)13 (50.0%)(6)19 25

FY26 Q2 Appendix: Retail Segment
Genesis Energy Limited FY26 Q2 Performance Report 10.
Prices, volumes and financials in this report are unaudited and subject to change. Reported numbers have been rounded and might not appear to add or multiply.
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
0
500
1,000
1,500
2,000
FY23
Q1
Q2Q3Q4FY24
Q1
Q2Q3Q4FY25
Q1
Q2Q3Q4FY26
Q1
Q2
Electricity Sales Volume (GWh)
Quarterly Resi Sales VolumesQuarterly SME Sales Volumes
Quarterly C&I Sales VolumesQuarterly Ecotricity Sales Volumes
Rolling 12-month Sales Volume (RHS)
5.5
6.0
6.5
7.0
7.5
8.0
8.5
9.0
0.0
0.5
1.0
1.5
2.0
2.5
3.0
FY23
Q1
Q2Q3Q4FY24
Q1
Q2Q3Q4FY25
Q1
Q2Q3Q4FY26
Q1
Q2
Gas Sales Volume (PJ)
Quarterly Resi Sales VolumesQuarterly SME Sales Volumes
Quarterly C&I Sales VolumesRolling 12-month Sales Volume (RHS)
30,000
40,000
50,000
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
FY23
Q1
Q2Q3Q4FY24
Q1
Q2Q3Q4FY25
Q1
Q2Q3Q4FY26
Q1
Q2
LPG Sales Volume (Tonnes)
Quarterly Bottled LPG Sales VolumesQuarterly Bulk & Business LPG Sales Volume
Rolling 12-month Sales Volume (RHS)

FY26 Q2 Appendix: Wholesale Segment
Genesis Energy Limited FY26 Q2 Performance Report 11.
Prices, volumes and financials in this report are unaudited and subject to change. Reported numbers have been rounded and might not appear to add or multiply.
Tekapo Storage is total storage including Genesis and competitors.
0
1,000
2,000
3,000
4,000
5,000
JanFebMarAprMayJunJulAugSepOctNovDec
New Zealand Daily Storage (All Generators, GWh)
Long Run Average Storage12 Month Storage
0
100
200
300
400
500
600
700
800
900
JanFebMarAprMayJunJulAugSepOctNovDec
Tekapo Storage vs. Long Run Average (GWh)
Long Run Average Storage12 Month Storage
0
50
100
150
200
250
JanFebMarAprMayJunJulAugSepOctNovDec
Waikaremoana Storage vs. Long Run Average (GWh)
Long Run Average Storage12 Month Storage
0
1
2
3
4
5
6
7
JanFebMarAprMayJunJulAugSepOctNovDec
Tongariro Generation (GWh/Day)
20 Year Average7 Day Rolling Average

FY26 Q2 Appendix: Wholesale Segment
Genesis Energy Limited FY26 Q2 Performance Report 12.
All prices and volumes in this report are unaudited and subject to change. Reported numbers have been rounded and might not appear to add or multiply.
$50
$100
$150
$200
$250
$300
$350
Mar-23Jun-23Sep-23Dec-23Mar-24Jun-24Sep-24Dec-24Mar-25Jun-25Sep-25Dec-25
ASX Futures Spot Pricing ($/MWh)
1-Year Contract2-Year Contract3-Year Contract
0
500
1,000
1,500
2,000
2,500
3,000
Q2Q3Q4FY22
Q1
Q2Q3Q4FY23
Q1
Q2Q3Q4FY24
Q1
Q2Q3Q4FY25
Q1
Q2Q3Q4FY26
Q1
Q2
Generation Portfolio (GWh)
North Island HydroSouth Island HydroHaunui WindPPAs
Huntly Units 1 to 4 GasHuntly Units 1 to 4 CoalHuntly Unit 6Huntly Unit 5
0%
20%
40%
60%
80%
100%
$0
$50
$100
$150
$200
$250
Q3Q4FY24 Q1Q2Q3Q4FY25 Q1Q2Q3Q4FY26 Q1Q2
Portfolio & Thermal Fuel Costs
Weighted Average Fuel Cost - Thermal ($/MWh)
Weighted Average Fuel Cost - Portfolio ($/MWh)
Renewable Contribution to Total Generation (%)

FY26 Q2 Appendix: Kupe Segment
Genesis Energy Limited FY26 Q2 Performance Report 13.
Prices, volumes and financials in this report are unaudited and subject to change. Reported numbers have been rounded and might not appear to add or multiply.
$50
$60
$70
$80
$90
$100
JanFebMarAprMayJunJulAugSepOctNovDec
Brent Crude Oil Spot Price (USD/bbl)
12 Months to Dec 2412 Months to Dec 25
0
2
4
6
8
10
12
0
1
1
2
2
3
3
4
FY22
Q1
Q2Q3Q4FY23
Q1
Q2Q3Q4FY24
Q1
Q2Q3Q4FY25
Q1
Q2Q3Q4FY26
Q1
Q2
Kupe Gas Sales Volume (Genesis Share, PJ)
Quarterly Sales VolumeRolling 12 Months Sales Volume (RHS)
0
50
100
150
200
250
300
350
0
20
40
60
80
100
120
FY22
Q1
Q2Q3Q4FY23
Q1
Q2Q3Q4FY24
Q1
Q2Q3Q4FY25
Q1
Q2Q3Q4FY26
Q1
Q2
Kupe Oil Production Volume (Genesis Share, kbbl)
Quarterly Production VolumeRolling 12 Month Production Volume (RHS)

Glossary – Performance
Electricity
Retail Resi Electricity
Sales of electricity to residential customers
Retail SME ElectricitySales of electricity to small business customers
Retail C&I ElectricitySales of electricity to commercial and industrial customers
Ecotricity ElectricitySales of electricity to Ecotricity customers
Wholesale Electricity SalesSale of generated electricity and residential rooftop solar onto the spot market, excluding PPA settlements and ancillary revenue
Total Derivative SettlementsNet
settlement of electricity derivatives including PPAs, hedges, options, market making obligations and discretionary trading
Generation Costs - Total Direct generation costs, inclusive of fuels and carbon
Retail PurchasesPurchases of electricity on spot market for retail customers
Transmission and Distribution CostsTotal electricity transmission and distribution costs, connection charges, electricity market levies and meter leasing
Gas
Retail Resi Gas
Sales of gas to residential customers
Retail SME GasSales of gas to small business customers
Retail C&I GasSales of gas to commercial and industrial customers
Wholesale SalesSales of gas to wholesale customers
Cost of GasPurchase of gas for sale (excludes gas used in electricity generation)
Transmission and Distribution CostsTotal gas transmission and distribution costs, gas levies and meter leasing
LPG
Bottled LPG SalesRepresents 45kg LPG bottle sales
SME & Other Bulk LPG salesRepresents SME and other bulk and third party distributors
Wholesale LPG SalesSales of LPG to wholesale customers
LPG CostPurchase of LPG for sale
Kupe
Oil SalesSale of crude oil
Gas SalesSale of gas
LPG SalesSale of LPG
Genesis Energy Limited FY26 Q2 Performance Report 14.
Prices, volumes and financials in this report are unaudited and subject to change. Reported numbers have been rounded and might not appear to add or multiply.

Glossary – Operational metrics
Wholesale
Electricity CFD Purchases – Wholesale (GWh)Settlement volumes of generation hedge purchases, including exchange traded and OTC contracts. Excludes PPAs, active trading, Fi nancial Transmissions Rights (FTRs) and Cap/Collar/Floor
contracts
Electricity CFD Purchase Price – Wholesale ($/MWh)Average price paid for Electricity Financial Contract Purchases – Wholesale
Electricity CFD Sales – Wholesale (GWh)Settlement volumes of generation hedge sales, including exchange traded and OTC contracts. Excludes PPAs, active trading, Financial Transmissions Rights (FTRs) and Cap/Collar/Floor
contracts
Electricity CFD Sale Price – Wholesale ($/MWh)Average price paid for Electricity Financial Contract Sales – Wholesale
Generation Emissions Carbon emissions due to coal and gas electricity generation
Generation Carbon Intensity (tCO
2
/GWh)Carbon emissions (tCO
2
) produced per unit of total electricity generated (GWh)
Rankine OutputElectricity generated in the Huntly Rankine units
Rankine’s Fuelled by Coal (%)The proportion of coal used in the Rankine units
Total Gas Purchases (PJ)Total gas purchases
Total Coal Purchases (PJ)Coal purchases have been converted from tonnes to PJ using the shipments’ Calorific Value
Gas Used In Internal Generation (PJ)Gas consumed in electricity generation
Weighted Average Gas Burn Cost ($/GJ)Total cost of gas burnt divided by generation from gas fired generation, excluding emissions
Coal Used In Internal Generation (PJ)Results may be revised to reflect changes in coal kilo tonnes to PJ conversion rate and volume methodology.
Weighted Average Coal Burn Cost ($/GJ)Total cost of coal burnt divided by generation from coal fired generation, excluding emissions
Operational Coal Stockpile – closing balance (kt)The coal stockpile closing balance in tonnes at Huntly Power Station, less the Security Products Stockpile.
Security Products Stockpile – closing balance (kt)
Refers to Huntly Firming Option (HFO) and Market Security Options (MSO). Stored energy refers to virtual stockpile volumes ordered by counterparties and is expressed in kilotonnes of
coal equivalents as at period end.
Power purchase agreements
Electricity (GWh)Energy purchased through long term agreements with generator
Average Price Received for Generation - GWAP ($/MWh)
Price received at production node
Corporate
Total Recordable Injuries12-month rolling Total Recordable Injuries including Lost Time Injuries, Restrictive Work Injuries and Medical Treatment Injuries
Employees FTENumber of full-time equivalent employees, excluding those on parental leave or a career break
Contractors FTENumber of full-time equivalent contractors, excluding statement of work contractors.
Core FTETotal number of full-time equivalent employees, excluding employees working on time-bound digital projects.
Digital FTETotal number of full-time equivalent employees working on time-bound digital projects, based on hours worked.
Total FTETotal number of full-time equivalent employees, including contractors, excluding employees on parental leave or a career break
Kupe
Oil ProductionProduction of crude oil
Oil Price realised (USD/bbl.)The underlying benchmark crude oil price that is used to set the price for crude oil sales
LPG Production Yield (T/TJ)Tonnes of LPG produced relative to each TJ of gas produced
LPG Production Production of LPG
Genesis Energy Limited FY26 Q2 Performance Report 15.
Prices, volumes and financials in this report are unaudited and subject to change. Reported numbers have been rounded and might not appear to add or multiply.

Glossary – Operational metrics
Retail
Brand Net Promoter Score – Genesis EnergyBased on survey question “How likely would you be to recommend Genesis to your friends or family?” Calculated on 3 month rolling basis.
Interaction Net Promoter Score - Genesis
Based on survey question “Based on your recent interaction with Genesis, how likely would you be to recommend Genesis to your family/friends?” Calculated on 3 month
rolling basis.
CustomersElectricity and gas and LPG customers are defined by single customer view, regardless of number of connections (ICP’s)
ICPInstallation Connection Point, a connection point that is both occupied and has not been disconnected (Active-Occupied)
Gross Customer ChurnDefined as residential customers instigating a trader switch or home move
Net Customer ChurnDefined as percentage of residential customers that finalise in a period.
Resi, SME, C&IResidential, small and medium enterprises and commercial & industrial customers
Netback ($/MWh, $/GJ, $/tonne)
Customer EBITDAF by fuel type plus respective fuel purchase cost divided by total fuel sales volumes, stated in native fuel units (excluding corporate allocation costs and Technology &
Digital cost centre)
Genesis Energy Limited FY26 Q2 Performance Report 16.
Prices, volumes and financials in this report are unaudited and subject to change. Reported numbers have been rounded and might not appear to add or multiply.

Investor Relations enquiries
David Porter
Investor Relations Manager
+64 20 418 41186
Moahango Dam