Earnings release
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MARKET RELEASE Date: 23rd October 2025 NZX: GNE / ASX: GNE FY26 Q1 Performance Report Genesis Energy delivered a strong first-quarter performance for FY26, demonstrating the resilience and flexibility of its diversified portfolio. The Company benefited from above -average hydrological conditions, improved retail pricing discipline, and effective portfolio optimisation, positioning Genesis well to achieve FY26 guidance. Q1 FY26 Performance Highlights: • Hydro generation of 904 GWh (+218 GWh increase on pcp ), benefiting from above-average rainfall and strong operational availability • Genesis lake levels increased from 102% of average at 30 June to 113% of average at 30 September, providing strong water security heading into summer • Thermal generation of 784 GWh (498 GWh decrease on pcp) reflecting reduced reliance on coal and gas due to strong hydro performance and portfolio optimisation • Huntly BESS (100MW/200MWh) progressing well with foundations ready for equipment deliveries by December; transformer manufacturing on schedule for Q1 FY27 commissioning • Biomass supply agreements advancing: Carbona MOU signed (120kt p.a.); Foresta Term Sheet signed (180 ktpa); $6M EECA funding secured to support biomass development • Billing and CRM re -platform release 1 on track for go -live before the end of October (circa 50,000 ICPs); release 2 well underway • Digital investment programme remains on track to deliver $145M Big Rock initiatives • The planned outage for Unit 5 commenced on 1 October and lasted 3 months, with 2 PJ of gas successfully on-sold to the market. • All planned maintenance is progressing to schedule. Genesis's upcoming Investor Day on 26 -27 November 2025 in Taupo will detail their Gen35 strategy execution, capital allocation framework, and long-term earnings pathway. 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: 027 202 4885 About Genesis Energy: For personal use only
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G e n e s i s E n e r g y ( N Z X : G N E , A S X : G N E ) i s a d i v e r s i fi e d N e w Z e a l a n d e n e r g y c o m p a n y . G e n e s i s s e l l s electricity, reticulated natural gas and LPG through its retail brands and is one of New Zealand's largest energy retailers with approximately 503,000 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% int erest in the K upe Joint V enture, which owns the K upe Oil and Gas Field offshore of Taranaki, New Zealand. Genesis had revenue of NZ$3.0 billion during the 12 months ended 30 June 2025. More information can be found at www.genesisenergy.co.nz For personal use only
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FY26 Q1 Performance Report Genesis Energy Limited FY26 Q1 Performance Report 1. For personal use only
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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 be complete nor does it contain all the information required for an investor to evaluate an investment. 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 statements. This risk of inaccuracies may be heightened in relation to forward-looking statements that relate to longer timeframes, as such statements may incorporate a greater number of assumptions and estimates. Genesis Energy gives 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 the use of words such as “approximate” , “project”, “foresee” , “plan” , “target”, “seek”, “expect” , “aim”, “intend” , “anticipate”, “believe” , “estimate”, “may”, “should” , “will”, “objective”, “assume” , “guidance” , “outlook” or similar expressions. Genesis Energy is subject to disclosure obligations under the NZX Listing Rules that requires it to notify certain material information to NZX for the purpose of that information being made available to participants in the market. This report should be read in conjunction with Genesis Energy’s periodic and continuous disclosure announcements released to NZX, which are available at www.nzx.com. While all reasonable care has been taken in compiling this report, to the maximum extent permitted by law, Genesis 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. All references to “$” are to New Zealand dollars, unless otherwise stated. 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 Q1 Performance Report 2. For personal use only
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Retail 1,874 GWh Total Electricity Sales Wholesale Kupe2 188 GWh increase on pcp1 502,765 Total Customers 0.9% increase on pcp $181/MWh Electricity Netback 17.7% decrease on pcp 904 GWh Hydro Generation 218 GWh increase on pcp 258 GWh PPA Electricity Generation3 Thermal Generation 498 GWh decrease on pcp 1. PCP refers to Q1 FY25 unless otherwise stated. 2. Represents Genesis’ 46% share of Kupe JV volumes. 3. Includes JV and third party PPAs 1.6 PJ 0.2 PJ decrease on pcp 7.6 kt 0.4 kt decrease on pcp 784 GWh Oil Production Kupe LPG Sales Kupe Gas Sales 135 GWh increase on pcp 32 kbbl 14.7% 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 Q1 Performance Highlights Genesis Energy Limited FY26 Q1 Performance Report 3. For personal use only
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• Billing and CRM Re-platform - Release 1 on track for go-live before end October (circa 50k ICPs); release 2 well underway. • Customer Flexibility - Peak flex lifted to 56 MW • Electrification of Transport - ChargeNet grown to >520 fast-chargers nationwide & a net growth of 1,500 new EV customers • Wind - No further update. • Solar - Leeston Solar Farm reached completion in October with Genesis taking full ownership & control. • BESS - Foundations ready for deliveriesby Dec. Transformer manufacturing progressing well. • Gas - Gas sale contract provides seasonal flexibility that will support Q2 FY26. • Biomass - Carbona MOU signed (120ktpa); Foresta Term Sheet signed (180 ktpa); Supply negotiations underway, including $6m EECA funding Gen35 8by28 Progress Digital Investment Customer Margin growth Renewables Thermal displacement Flexibility Monetising flexibility Genesis Energy Limited FY26 Q1 Performance Report 4. Genesis remains on track to deliver the following three “Big Rock” initiatives within the $145m envelope as previously advised: 1. Billing and CRM modernisation; 2. Upgrade of the General Ledger finance system; and 3. Upgrades to the Wholesale and Markets Trading systems Notes: 1. Phasing of project spend between FY26/FY27 years is evolving in line with different phases of delivery 2. $145m excludes ~$15m annualised spend for on -going digital programme 3. $145m is subject to SaaS accounting conventions and is gross of any costs deferred to prepayments For personal use only
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Huntly Hydro Schemes Commercial Businesses Q1 Performance: • Hydro generation of 904 GWh (+24% pcp). • Genesis lake levels increased from 102% of average at 30 June to 113% of average at 30 September. Planned Outage campaigns in progress, including: • Rangipo turbine and Main Inlet Valve (MIV) overhaul and governor replacement. • Kaitawa penstock recoating and MIV refurbishment. • Rangipo sluice gate overhaul. Unit 5: • Planned outage commenced on 1 st October for 3 months, with 2 PJ of gas on-sold. Planned hot inspection to be completed during shutdown. Huntly Firming Options (HFOs) • New HFOs under the Commerce Commission cross- submission process. • Strategic coal stockpile (600kt) in place and funded. Local Coal Supply • 2-year contract signed with BT Mining for 240kt of indigenous coal over the next two years. Huntly Rankine planned outage includes: • Unit 1 circuit breaker replacement preparations • Unit 4 circuit breaker & main boiler feed pump replacement near completion. LPG: • Two new LPG depots progressing: - Drury, on track for commissioning in early 2026. - Dunedin, in the detailed design phase. • Total LPG Retail sales 12.3 kt. • Workdays lost 114 (-60%pcp). Kupe JV: • Q1 production is stable and above the Operator’s forecast. • JV Partners continues to focus on optimising value from late-life asset operations to ensure good cost and reliability management. Operational Update Genesis Energy Limited FY26 Q1 Performance Report 5. For personal use only
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FY26 Q1 Operating Performance Genesis Energy Limited FY26 Q1 Performance Report 6. 1Methodology 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 mig ht not appear to add or multiply. Q1 FY26 Q1 FY25 Variance YTD FY26 YTD FY25 ELECTRICITY Volume Rate per unit $m Volume Rate per unit $m Volume Rate per unit $m Volume Rate per unit $m Volume Rate per unit $m Retail Resi Electricity 920 GWh $321/MWh 295.6 970 GWh $281/MWh 272.5 (50) GWh $40/MWh 23.1 920 GWh $321/MWh 295.6 970 GWh $281/MWh 272.5 Retail SME Electricity 254 GWh $318/MWh 80.8 270 GWh $266/MWh 71.8 (16) GWh $52/MWh 9.1 254 GWh $318/MWh 80.8 270 GWh $266/MWh 71.8 Retail C&I Electricity 457 GWh $265/MWh 121.0 446 GWh $237/MWh 105.8 11 GWh $27/MWh 15.2 457 GWh $265/MWh 121.0 446 GWh $237/MWh 105.8 Ecotricity Electricity 242 GWh $323/MWh 78.0 0 GWh - 0.0 242 GWh $323/MWh 78.0 242 GWh $323/MWh 78.0 0 GWh - 0.0 Total Retail Sales 1,874 GWh $307/MWh 575.4 1,686 GWh $267/MWh 450.0 188 GWh $40/MWh 125.4 1,874 GWh $307/MWh 575.4 1,686 GWh $267/MWh 450.0 Wholesale Electricity Sales 1,695 GWh $138/MWh 234.1 1,971 GWh $338/MWh 666.8 (276) GWh $(200)/MWh (432.7) 1,695 GWh $138/MWh 234.1 1,971 GWh $338/MWh 666.8 Total Derivative Settlements 32.8 (16.2) 49.1 32.8 (16.2) Generation Costs - Thermal 784 GWh $153/MWh 120.3 1,281 GWh $138/MWh 177.4 (498) GWh $15/MWh (57.1) 784 GWh $153/MWh 120.3 1,281 GWh $138/MWh 177.4 Generation Costs - Renewable 904 GWh - 0.0 690 GWh - 0.0 215 GWh - 0.0 904 GWh - 0.0 690 GWh - 0.0 Generation Costs - Total 1,688 GWh $71/MWh 120.3 1,971 GWh $90/MWh 177.4 (283) GWh $(19)/MWh (57.1) 1,688 GWh $71/MWh 120.3 1,971 GWh $90/MWh 177.4 Retail Purchases Retail Purchases 1,967 GWh $141/MWh 276.6 1,778 GWh $325/MWh 577.3 189 GWh $(184)/MWh (300.7) 1,967 GWh $141/MWh 276.6 1,778 GWh $325/MWh 577.3 Transmission and Distribution Costs 213.5 171.6 41.9 213.5 171.6 GAS Volume Rate per unit $m Volume Rate per unit $m Volume Rate per unit $m Volume Rate per unit $m Volume Rate per unit $m Retail Resi Gas 0.8 PJ $51.5/GJ 42.3 0.9 PJ $42.8/GJ 39.4 (0.1) PJ $8.7/GJ 2.9 0.8 PJ $51.5/GJ 42.3 0.9 PJ $42.8/GJ 39.4 Retail SME Gas 0.5 PJ $38.0/GJ 18.2 0.5 PJ $28.5/GJ 14.9 (0.0) PJ $9.5/GJ 3.3 0.5 PJ $38.0/GJ 18.2 0.5 PJ $28.5/GJ 14.9 Retail C&I Gas 0.8 PJ $35.5/GJ 29.7 1.0 PJ $24.2/GJ 23.9 (0.1) PJ $11.2/GJ 5.9 0.8 PJ $35.5/GJ 29.7 1.0 PJ $24.2/GJ 23.9 Total Retail Sales 2.1 PJ $42.2/GJ 90.3 2.4 PJ $32.2/GJ 78.1 (0.3) PJ $10.0/GJ 12.1 2.1 PJ $42.2/GJ 90.3 2.4 PJ $32.2/GJ 78.1 Wholesale Sales 0.1 PJ $10.2/GJ 0.7 0.0 PJ $12.5/GJ 0.2 0.1 PJ $(2.3)/GJ 0.5 0.1 PJ $10.2/GJ 0.7 0.0 PJ $12.5/GJ 0.2 Cost of Gas 2.2 PJ $14.9/GJ 33.0 2.4 PJ $14.9/GJ 36.5 (0.2) PJ $(0.0)/GJ (3.5) 2.2 PJ $14.9/GJ 33.0 2.4 PJ $14.9/GJ 36.5 Transmission and Distribution Costs 30.7 29.8 0.9 30.7 29.8 LPG Volume Rate per unit $m Volume Rate per unit $m Volume Rate per unit $m Volume Rate per unit $m Volume Rate per unit $m Bottled LPG Sales 5.4 kt $3,443/t 18.4 6.1 kt $3,341/t 20.5 (0.8) kt $102/t (2.0) 5.4 kt $3,443/t 18.4 6.1 kt $3,341/t 20.5 SME & Other Bulk LPG Sales 7.0 kt $2,232/t 15.5 7.7 kt $1,915/t 14.7 (0.7) kt $317/t 0.8 7.0 kt $2,232/t 15.5 7.7 kt $1,915/t 14.7 Total Retail Sales 12.3 kt $2,759/t 34.0 13.8 kt $2,547/t 35.2 (1.5) kt $212/t (1.2) 12.3 kt $2,759/t 34.0 13.8 kt $2,547/t 35.2 Wholesale LPG Sales 0.6 kt $1,133/t 0.6 1.0 kt $1,061/t 1.1 (0.5) kt $72/t (0.5) 0.6 kt $1,133/t 0.6 1.0 kt $1,061/t 1.1 LPG Cost 12.9 kt $1,262/t 16.3 14.9 kt $1,011/t 15.0 (2.0) kt $251/t 1.2 12.9 kt $1,262/t 16.3 14.9 kt $1,011/t 15.0 KUPE Volume Rate per unit $m Volume Rate per unit $m Volume Rate per unit $m Volume Rate per unit $m Volume Rate per unit $m Oil Sales 43.2 Kbbl $106.0/bbl 4.6 75.5 Kbbl $110.5/bbl 8.3 (32.3) Kbbl ($4.5/bbl) (3.8) 43.2 Kbbl $106.0/bbl 4.6 75.5 Kbbl $110.5/bbl 8.3 Gas Sales 1.6 PJ $13.5/GJ 21.3 1.8 PJ $8.6/GJ 15.5 (0.2) PJ $4.9/GJ 5.8 1.6 PJ $13.5/GJ 21.3 1.8 PJ $8.6/GJ 15.5 LPG Sales 7.6 kt $716/t 5.4 8.0 kt $536/t 4.3 (0.4) kt $179/t 1.1 7.6 kt $716/t 5.4 8.0 kt $536/t 4.3 For personal use only
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1. Genesis brand only 2. Excludes Ecotricity 3. Reported Q2 number restated FY26 Q1 Operating Metrics Genesis Energy Limited FY26 Q1 Performance Report 7. Prices, volumes and financials in this report are unaudited and subject to change. Reported numbers have been rounded and might not appear to add or multiply. RETAIL SEGMENT Q1 FY26 Q1 FY25 % Change Var. Q4 FY25 % Change Var. YTD FY26 YTD FY25 RETAIL Brand Net Promoter Score - Genesis Energy 16 18 (11.1%) -2 27 (40.7%) -11 Interaction Net Promoter Score - Genesis 43 51 (15.7%) -8 47 (8.5%) -4 Gross Customer Churn (3 month rolling average, %) 21.6% 21.6% 0.3% 0.1% 20.0% 8.3% 1.7% Net Customer Churn (3 month rolling average, %) 15.2% 13.7% 11.2% 1.5% 12.6% 20.6% 2.6% Electricity Netback ($/MWh) $181.4 $158.2 14.7% $23.2 $169.6 7.0% $11.8 $181.4 $158.2 Gas Netback ($/GJ) $27.2 $19.2 41.8% $8.0 $27.0 0.5% $0.1 $27.2 $19.2 LPG Netback ($/t) $1,644.9 $1,628.6 1.0% $16.3 $1,520.5 8.2% $124.3 $1,644.9 $1,628.6 CUSTOMER NUMBERS Customers > 1 Fuel 133,042 151,500 (12.2%) (18,458) 127,278 4.5% 5,764 133,042 151,500 Electricity Only Customers 324,310 307,932 5.3% 16,378 341,958 (5.2%) (17,648) 324,310 307,932 Gas Only Customers 12,564 10,474 20.0% 2,090 15,671 (19.8%) (3,107) 12,564 10,474 LPG Only Customers 32,849 28,591 14.9% 4,258 35,612 (7.8%) (2,763) 32,849 28,591 Total Customers 502,765 498,497 0.9% 4,268 520,519 (3.4%) (17,754) 502,765 498,497 Electricity ICPs Active-Occupied 532,250 522,911 1.8% 9,339 545,259 (2.4%) (13,009) 532,250 522,911 Gas ICPs Active-Occupied 101,770 109,892 (7.4%) (8,122) 102,320 (0.5%) (550) 101,770 109,892 LPG Customer Connections (#) 86,233 90,861 (5.1%) (4,628) 85,831 0.5% 402 86,233 90,861 Total ICPs 720,253 723,664 (0.5%) (3,411) 733,410 (1.8%) (13,157) 720,253 723,664 WHOLESALE SEGMENT Q1 FY26 Q1 FY25 % Change Var. Q4 FY25 % Change Var. YTD FY26 YTD FY25 GENERATION Generation Emissions (ktCO2) 439 985 (55.4%) (545) 743 (40.8%) (303) 439 985 Generation Carbon Intensity (tCO2/GWh) 260 500 (47.9%) (239) 413 (37.0%) (153) 260 500 Rankine Output (GWh) 175 763 (77.1%) (588) 459 (61.9%) (284) 175 763 Rankines Fueled by Coal (%) 88% 91% (3.1%) (3%) 95% (7.3%) (7%) 88% 91% Total Gas Purchases (PJ) 7.2 7.1 1.1% 0.1 6.8 5.4% 0.4 7.2 7.1 Total Coal Purchases (PJ) 9.2 7.8 18.2% 1.4 9.3 (1.5%) (0.1) 9.2 7.8 Electricity CFD Purchases - Wholesale (GWh) 395 294 34.5% 101 332 19.1% 64 395 294 Electricity CFD Purchase Price - Wholesale ($/MWh) $208.5 $180.5 15.5% $28.0 $216.8 (3.8%) ($8.3) $208.5 $180.5 Electricity CFD Sales - Wholesale (GWh) 470 427 10.1% 43 444 5.8% 26 470 427 Electricity CFD Sale Price - Wholesale ($/MWh) $232.2 $196.5 18.1% $35.6 $260.0 (10.7%) ($27.8) $232.2 $196.5 Gas Used In Internal Generation (PJ) 4.9 4.7 3.7% 0.2 5.0 (2.9%) (0.1) 4.9 4.7 Weighted Average Gas Burn Cost ($/GJ) $15.7 $16.2 (3.1%) ($0.5) $14.9 5.1% $0.8 $15.7 $16.2 Coal Used In Internal Generation (PJ) 1.78 7.5 (76.1%) (5.7) 4.8 (62.9%) (3.0) 1.8 7.5 Weighted Average Coal Burn Cost ($/GJ) $11.6 $9.3 25.0% $2.3 $11.6 0.4% $0.0 $11.6 $9.3 Operational Coal Stockpile - closing balance (kilotonnes) 894 215 316.5% 679 578 54.8% 317 894 215 Security Products – coal equivalent energy secured (kilotonnes) 166 28 491.4% 138 121 37.5% 45 166 28 POWER PURCHASE AGREEMENTS Electricity (GWh) 258 123 109.3% 135 250 3.3% 8 258 123 Average Price Received for Generation - GWAP ($/MWh) $118.32 $228.96 (48.3%) ($110.64) $187.49 (36.9%) ($69.17) $118.32 $228.96 For personal use only
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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 Q1 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. KUPE SEGMENT Q1 FY26 Q1 FY25 % Change Var. Q4 FY25 % Change Var. YTD FY26 YTD FY25 Oil Production (kbbl) 32 39 (17.7%) (7) 34 (5.0%) (2) 32 39 Average Brent Crude Oil (USD/bbl) $69.1 $80.2 (13.9%) ($11.1) $67.8 1.8% $1.3 $69.1 $80.2 LPG Production (kt) 7.0 8.0 (13.0%) (1.0) 7.2 (4.0%) (0.3) 7.0 8.0 LPG Production Yield (t/TJ) 4.4 4.4 0.2% 0.0 4.4 (0.5%) (0.0) 4.4 4.4 OTHER Q1 FY26 Q1 FY25 % Change Var. Q4 FY25 % Change Var. YTD FY26 YTD FY25 CORPORATE Employees FTE 1,307 1,229 6.3% 78 1,278 2.3% 29 1,307 1,229 Contractors FTE 65 60 8.7% 5 71 (9.3%) (7) 65 60 Total FTE 1,372 1,289 6.4% 83 1,350 1.7% 22 1,372 1,289 Total Recordable Injuries 12 17 (29.4%) (5) 13 (7.7%) (1) 12 17 1297 1263 1209 1196 1189 1150 1156 1179 33 41 75 93 80 129 126 122 63 65 68 711,331 1,304 1,284 1,289 1,332 1,345 1,350 1,372 1000 1050 1100 1150 1200 1250 1300 1350 1400 Q2 Q3 Q4 FY25 Q1 Q2 Q3 Q4 FY26 Q1 FTE Split Core FTE Digital Projects FTE Ecotricity FTE Total FTE For personal use only
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FY26 Q1 Appendix: Retail Segment Genesis Energy Limited FY26 Q1 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. 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 0 500 1,000 1,500 2,000 Q4 FY23 Q1 Q2 Q3 Q4 FY24 Q1 Q2 Q3 Q4 FY25 Q1 Q2 Q3 Q4 FY26 Q1 Electricity Sales Volume (GWh) Quarterly Resi Sales Volumes Quarterly SME Sales Volumes Quarterly C&I Sales Volumes Quarterly Ecotricity Sales Volumes Rolling 12-month Sales Volume (RHS) 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 Q4 FY23 Q1 Q2 Q3 Q4 FY24 Q1 Q2 Q3 Q4 FY25 Q1 Q2 Q3 Q4 FY26 Q1 Gas Sales Volume (PJ) Quarterly Resi Sales Volumes Quarterly SME Sales Volumes Quarterly C&I Sales Volumes Rolling 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 Q4 FY23 Q1 Q2 Q3 Q4 FY24 Q1 Q2 Q3 Q4 FY25 Q1 Q2 Q3 Q4 FY26 Q1 LPG Sales Volume (Tonnes) Quarterly Bottled LPG Sales Volumes Quarterly Bulk & Business LPG Sales Volume Rolling 12-month Sales Volume (RHS) For personal use only
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FY26 Q1 Appendix: Wholesale Segment Genesis Energy Limited FY26 Q1 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 50 100 150 200 250 Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Waikaremoana Storage vs. Long Run Average (GWh) Long Run Average Storage 12 Month Storage 0 100 200 300 400 500 600 700 800 900 Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Tekapo Storage vs. Long Run Average (GWh) Long Run Average Storage 12 Month Storage 0 1,000 2,000 3,000 4,000 5,000 Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep New Zealand Daily Storage (All Generators, GWh) Long Run Average Storage 12 Month Storage 0 1 2 3 4 5 6 7 Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Tongariro Generation (GWh/Day) 20 Year Average 7 Day Rolling Average For personal use only
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FY26 Q1 Appendix: Wholesale Segment Genesis Energy Limited FY26 Q1 Performance Report 11. 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 . 0 500 1,000 1,500 2,000 2,500 3,000 FY21 Q1 Q2 Q3 Q4 FY22 Q1 Q2 Q3 Q4 FY23 Q1 Q2 Q3 Q4 FY24 Q1 Q2 Q3 Q4 FY25 Q1 Q2 Q3 Q4 FY26 Q1 Generation Portfolio (GWh) North Island Hydro South Island Hydro Haunui Wind PPAs Huntly Units 1 to 4 Gas Huntly Units 1 to 4 Coal Huntly Unit 6 Huntly Unit 5 0% 20% 40% 60% 80% 100% $0 $20 $40 $60 $80 $100 $120 $140 $160 $180 Q2 Q3 Q4 FY24 Q1 Q2 Q3 Q4 FY25 Q1 Q2 Q3 Q4 FY26 Q1 Portfolio & Thermal Fuel Costs Weighted Average Fuel Cost - Thermal ($/MWh) Weighted Average Fuel Cost - Portfolio ($/MWh) Renewable Contribution to Total Generation (%) $50 $100 $150 $200 $250 $300 $350 Dec-22 Mar-23 Jun-23 Sep-23 Dec-23 Mar-24 Jun-24 Sep-24 Dec-24 Mar-25 Jun-25 Sep-25 ASX Futures Spot Pricing ($/MWh) 1-Year Contract 2-Year Contract 3-Year Contract For personal use only
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FY26 Q1 Appendix: Kupe Segment Genesis Energy Limited FY26 Q1 Performance Report 12. 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 50 100 150 200 250 300 350 0 20 40 60 80 100 120 FY22 Q1 Q2 Q3 Q4 FY23 Q1 Q2 Q3 Q4 FY24 Q1 Q2 Q3 Q4 FY25 Q1 Q2 Q3 Q4 FY26 Q1 Kupe Oil Production Volume (Genesis Share, kbbl) Quarterly Production Volume Rolling 12 Month Production Volume (RHS) 0 2 4 6 8 10 12 0 1 1 2 2 3 3 4 FY22 Q1 Q2 Q3 Q4 FY23 Q1 Q2 Q3 Q4 FY24 Q1 Q2 Q3 Q4 FY25 Q1 Q2 Q3 Q4 FY26 Q1 Kupe Gas Sales Volume (Genesis Share, PJ) Quarterly Sales Volume Rolling 12 Months Sales Volume (RHS) $50 $60 $70 $80 $90 $100 Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Brent Crude Oil Spot Price (USD/bbl) 12 Months to Sep 24 12 Months to Sep 25 For personal use only
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Glossary – Performance Electricity Retail Resi Electricity Sales of electricity to residential customers Retail SME Electricity Sales of electricity to small business customers Retail C&I Electricity Sales of electricity to commercial and industrial customers Ecotricity Electricity Sales of electricity to Ecotricity customers Wholesale Electricity Sales Sale of generated electricity and residential rooftop solar onto the spot market, excluding PPA settlements and ancillary revenue Total Derivative Settlements Net 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 Purchases Purchases of electricity on spot market for retail customers Transmission and Distribution Costs Total 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 Gas Sales of gas to small business customers Retail C&I Gas Sales of gas to commercial and industrial customers Wholesale Sales Sales of gas to wholesale customers Cost of Gas Purchase of gas for sale (excludes gas used in electricity generation) Transmission and Distribution Costs Total gas transmission and distribution costs, gas levies and meter leasing LPG Bottled LPG Sales Represents 45kg LPG bottle sales SME & Other Bulk LPG sales Represents SME and other bulk and third party distributors Wholesale LPG Sales Sales of LPG to wholesale customers LPG Cost Purchase of LPG for sale Kupe Oil Sales Sale of crude oil Gas Sales Sale of gas LPG Sales Sale of LPG Genesis Energy Limited FY26 Q1 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. For personal use only
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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, Financial 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 ($/MWh) Average price paid for Electricity Financial Contract Sales – Wholesale Generation Emissions Carbon emissions due to coal and gas electricity generation Generation Carbon Intensity (tCO2/GWh) Carbon emissions (tCO2) produced per unit of total electricity generated (GWh) Rankine Output Electricity generated in the Huntly Rankine units Rankine’s Fuelled by Coal (%) The proportion of coal used in the Rankine units Total Gas Purchases (PJ) Total gas purchases Total Coal Purchases (PJ) Coal purchases have been converted from tonnes to PJ using the shipments’ Calorific Value Gas Used In Internal Generation (PJ) Gas consumed in electricity generation WeightedAverage Gas Burn Cost ($/GJ) Totalcost 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. WeightedAverage Coal Burn Cost ($/GJ) Totalcost of coal burnt divided by generation from coal fired generation, excluding emissions Operational Coal Stockpile – closing balance (kt) The coal stockpile closing balance in tonnes at Huntly Power Station, less the Security Products Stockpile. Security Products Stockpile – closing balance (kt) Refers to Huntly Firming Option (HFO) and Market Security Options (MSO). Stored energy refers to virtual stockpile volumes ordered by counterparties and is expressed in kilotonnes of coal equivalents as at period end. Power purchase agreements Electricity (GWh) Energy purchased through long term agreements with generator Average Price Received for Generation - GWAP ($/MWh) Price received at production node Corporate Total Recordable Injuries 12-month rolling TotalRecordable Injuries including Lost Time Injuries, Restrictive Work Injuries and Medical Treatment Injuries Employees FTE Number of full-time equivalent employees, excluding those on parental leave or a career break Contractors FTE Number of full-time equivalent contractors, excluding statement of work contractors. Core FTE Total number of full-time equivalent employees, excluding employees working on time-bound digital projects. Digital FTE Total number of full-time equivalent employees working on time-bound digital projects, based on hours worked. Total FTE Total number of full-time equivalent employees, including contractors, excluding employees on parental leave or a career break Kupe Oil Production Production 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 Q1 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. For personal use only
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Glossary – Operational metrics Retail Brand Net Promoter Score – Genesis Energy Based 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. Customers Electricity and gas and LPG customers are defined by single customer view, regardless of number of connections (ICP’s) ICP Installation Connection Point, a connection point that is both occupied and has not been disconnected (Active-Occupied) Gross Customer Churn Defined as residential customers instigating a trader switch or home move Net Customer Churn Defined as percentage of residential customers that finalise in a period. Resi, SME, C&I Residential, 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 Q1 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. For personal use only
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Investor Relations enquiries David Porter Investor Relations Manager +64 20 418 41186 For personal use only