Earnings release
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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, s trong 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 For personal use only
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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: 027 202 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 Ta ranaki, 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. For personal use only
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FY26 Q2 Performance Report Tekapo A 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 Q2 Performance Report 2. For personal use only
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Retail 1,455 GWh Total Electricity Sales Wholesale Kupe2 22 GWh increase on pcp1 495,706 Total Customers4 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 Generation3 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 Ecotricity’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 mig ht not appear to add or multiply. FY26 Q2 Performance Highlights Genesis Energy Limited FY26 Q2 Performance Report 3. For personal use only
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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% against pcp • Customers on Genesis EV plans exceed 14k • ChargeNet delivered ~200k charging sessions to drivers nationwide – up 12% against pcp 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 $145m1 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 Renewables Flexibility For personal use only
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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. For personal use only
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Lauriston Solar Farm – Canterbury Plains Project Capacity / Duration Status Total Project Capex Commentary Operational 63 MW $104m Lauriston solar farm 63 MWDC Operating $104m(1) Operational Committed growth capex 236 MW $371m Huntly BESS stage 1 100 MW / 2Hrs Under construction $135m On track / on budget Edgecumbe solar farm 136 MWDC FID delivered $236m On track / on budget Progressed growth opportunities(2)(3) 638 MW $1,000 – 1,080m Huntly BESS stage 2 100 MW / 2Hrs Consented $110 –130m On track / on budget Leeston solar farm 67 MWDC Consented $100 - 120m On track / on budget Rangiriri solar farm 271 MWDC Consented $470 – 490m On track / on budget Foxton solar farm 200 MWDC Fast-track consenting $320 - 340m On track / on budget Discretionary growth opportunities ~550 – 600 MW $820 – 1,100m Gas storage N/A Under active review $820 – 1,100m Discussions ongoing Biomass N/A Under active review Discussions ongoing Huntly unit 7 peaker ~50 – 100 MW Under active review No decision made Castle hill wind farm 300 MW Consented On track / on budget Early-stage wind prospects ~200 MW Early-stage prospecting Discussions Ongoing Early-stage hydro enhancement N/A Early-stage prospecting Discussions Ongoing PPA 136 MW Tauhara geothermal 63 MW(4) Operating Operational Kaiwaikawe wind farm 73 MW Under construction No further update Mt. Cass wind farm 95 MW FID delivered No further update Joint Equity/PPA ~1,000 MW Yinson wind pipeline ~1,000 MW Early-stage equity options Exclusive 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. For personal use only
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FY26 Q2 Operating Performance Genesis Energy Limited FY26 Q2 Performance Report 7. 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. Q2 FY26 Q2 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 601 GWh $360/MWh 216.2 648 GWh $316/MWh 204.9 (47) GWh $43/MWh 11.2 1,521 GWh $336/MWh 511.7 1,618 GWh $295/MWh 477.4 Retail SME Electricity 244 GWh $326/MWh 79.8 260 GWh $274/MWh 71.4 (16) GWh $52/MWh 8.4 499 GWh $322/MWh 160.6 530 GWh $270/MWh 143.1 Retail C&I Electricity 414 GWh $181/MWh 75.0 455 GWh $161/MWh 73.0 (40) GWh $21/MWh 2.0 871 GWh $225/MWh 196.0 900 GWh $199/MWh 178.8 Ecotricity Electricity 195 GWh $292/MWh 56.9 70 GWh $197/MWh 13.8 125 GWh $94/MWh 43.1 437 GWh $309/MWh 134.9 70 GWh $197/MWh 13.8 Total Retail Sales 1,455 GWh $294/MWh 427.9 1,433 GWh $253/MWh 363.1 22 GWh $41/MWh 64.8 3,329 GWh $301/MWh 1,003.3 3,119 GWh $261/MWh 813.1 Wholesale Electricity Sales1 839 GWh $44/MWh 36.9 1,004 GWh $49/MWh 49.0 (165) GWh $(5)/MWh (12.0) 2,534 GWh $107/MWh 271.0 2,975 GWh $241/MWh 715.8 Total Derivative Settlements (33.8) (8.8) (25.0) (0.9) (25.0) Generation Costs - Thermal 85 GWh $200/MWh 17.0 286 GWh $159/MWh 45.3 (201) GWh $41/MWh (28.3) 869 GWh $158/MWh 137.2 1,567 GWh $142/MWh 222.7 Generation Costs - Renewable 740 GWh - 0.0 719 GWh - 0.0 21 GWh - 0.0 1,644 GWh - 0.0 1,408 GWh - 0.0 Generation Costs - Total 825 GWh $21/MWh 17.0 1,004 GWh $45/MWh 45.3 (180) GWh $(25)/MWh (28.3) 2,513 GWh $55/MWh 137.2 2,975 GWh $75/MWh 222.7 Retail Purchases Retail Purchases 1,543 GWh $41/MWh 63.9 1,501 GWh $43/MWh 65.1 42 GWh $(2)/MWh (1.1) 3,509 GWh $97/MWh 340.5 3,279 GWh $196/MWh 642.3 Transmission and Distribution Costs 180.5 151.9 28.6 396.1 325.6 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 0.5 PJ $72.1/GJ 33.5 0.5 PJ $61.1/GJ 27.8 0.0 PJ $11.0/GJ 5.7 1.3 PJ $58.9/GJ 75.8 1.4 PJ $48.8/GJ 67.1 Retail SME Gas 0.3 PJ $40.7/GJ 10.2 0.3 PJ $36.4/GJ 12.3 (0.1) PJ $4.3/GJ (2.1) 0.7 PJ $38.9/GJ 28.4 0.9 PJ $31.6/GJ 27.3 Retail C&I Gas 0.3 PJ $29.3/GJ 8.8 0.7 PJ $34.5/GJ 23.8 (0.4) PJ $(5.2)/GJ (15.0) 1.1 PJ $33.8/GJ 38.5 1.7 PJ $28.5/GJ 47.7 Total Retail Sales 1.0 PJ $51.7/GJ 52.5 1.5 PJ $43.1/GJ 63.9 (0.5) PJ $8.6/GJ (11.4) 3.2 PJ $45.3/GJ 142.7 3.9 PJ $36.3/GJ 142.0 Wholesale Sales 2.7 PJ $13.8/GJ 36.6 1.5 PJ $8.1/GJ 12.4 1.1 PJ $5.8/GJ 24.2 2.7 PJ $13.7/GJ 37.3 1.6 PJ $8.1/GJ 12.6 Cost of Gas 3.7 PJ $11.4/GJ 41.6 3.0 PJ $12.4/GJ 37.5 0.6 PJ $(1.0)/GJ 4.2 5.9 PJ $12.7/GJ 74.6 5.5 PJ $13.5/GJ 73.9 Transmission and Distribution Costs 20.9 26.6 (5.7) 52.3 57.5 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 4.0 kt $3,555/t 14.3 4.3 kt $3,512/t 15.2 (0.3) kt $43/t (0.8) 9.4 kt $3,491/t 32.8 10.4 kt $3,412/t 35.6 SME & Other Bulk LPG Sales 5.5 kt $2,322/t 12.7 6.0 kt $1,922/t 11.5 (0.5) kt $399/t 1.2 12.4 kt $2,271/t 28.2 13.7 kt $1,918/t 26.2 Total Retail Sales 9.5 kt $2,846/t 27.0 10.3 kt $2,590/t 26.7 (0.8) kt $256/t 0.3 21.8 kt $2,797/t 61.0 24.1 kt $2,565/t 61.8 Wholesale LPG Sales 0.7 kt $829/t 0.6 0.9 kt $1,028/t 0.9 (0.2) kt $(199)/t (0.3) 1.3 kt $965/t 1.2 1.9 kt $1,046/t 2.0 LPG Cost 10.2 kt $1,211/t 12.3 11.2 kt $1,018/t 11.4 (1.0) kt $193/t 1.0 23.1 kt $1,239/t 28.6 26.0 kt $1,014/t 26.4 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 11.0 Kbbl $137.1/bbl 1.5 43.8 Kbbl $104.7/bbl 4.6 (32.8) Kbbl $32.4/bbl (3.1) 54.2 Kbbl $112.3/bbl 6.1 119.3 Kbbl $108.4/bbl 12.9 Gas Sales 1.5 PJ $13.5/GJ 20.2 1.5 PJ $8.1/GJ 11.8 0.0 PJ $5.4/GJ 8.4 3.1 PJ $13.5/GJ 41.5 3.3 PJ $8.3/GJ 27.4 LPG Sales 6.1 kt $654/t 4.0 6.6 kt $557/t 3.7 (0.5) kt $97/t 0.3 13.7 kt $688/t 9.4 14.6 kt $546/t 8.0 For personal use only
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FY26 Q2 Operating Metrics Genesis Energy Limited FY26 Q2 Performance Report 8. Prices, volumes and financials in this report are unaudited and subject to change. Reported numbers have been rounded and might not appear to add or multiply. RETAIL SEGMENT Q2 FY26 Q2 FY25 % Change Var. Q1 FY26 % Change Var. YTD FY26 YTD FY25 RETAIL Brand Net Promoter Score - Genesis Energy 19 25 (24.0%) (6) 16 18.8% 3 Interaction Net Promoter Score - Genesis Energy 47 56 (16.1%) (9) 43 9.3% 4 Gross Customer Churn (3 month rolling average, %) 21.0% 19.8% 5.7% 1.1% 21.6% (3.1%) (0.7%) Net Customer Churn (3 month rolling average, %) 14.0% 12.2% 14.7% 1.8% 15.2% (8.0%) (1.2%) Electricity Netback ($/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 $1,552.6 CUSTOMER NUMBERS Customers > 1 Fuel 135,854 148,240 (8.4%) (12,386) 133,042 2.1% 2,812 135,854 148,240 Electricity Only Customers 317,278 329,558 (3.7%) (12,280) 324,310 (2.2%) (7,032) 317,278 329,558 Gas Only Customers 10,379 10,131 2.4% 248 12,564 (17.4%) (2,185) 10,379 10,131 LPG Only Customers 32,195 28,383 13.4% 3,812 32,849 (2.0%) (654) 32,195 28,383 Total Customers 495,706 516,312 (4.0%) (20,606) 502,765 (1.4%) (7,059) 495,706 516,312 Electricity ICPs Active-Occupied 528,103 554,178 (4.7%) (26,075) 532,250 (0.8%) (4,147) 528,103 554,178 Gas ICPs Active-Occupied 99,913 107,718 (7.2%) (7,805) 101,770 (1.8%) (1,857) 99,913 107,718 LPG Customer Connections (#) 87,415 88,998 (1.8%) (1,583) 86,233 1.4% 1,182 87,415 88,998 Total ICPs 715,431 750,894 (4.7%) (35,463) 720,253 (0.7%) (4,822) 715,431 750,894 WHOLESALE SEGMENT Q2 FY26 Q2 FY25 % Change Var. Q1 FY26 % Change Var. YTD FY26 YTD FY25 GENERATION Generation Emissions (ktCO2) 66 145 (54.2%) (79) 439 (84.9%) (373) 506 1,129 Generation Carbon Intensity (tCO2/GWh) 80 144 (44.2%) (64) 260 (69.1%) (180) 201 379 Rankine Output (GWh) 67 48 38.7% 19 175 (61.7%) (108) 242 812 Rankines Fueled by Coal (%) 14% 21% (33.2%) (7%) 88% (84.5%) (75%) 65% 86% Total Gas Purchases (PJ) 4.4 5.3 (16.7%) (0.9) 7.2 (38.0%) (2.7) 11.6 12.4 Total Coal Purchases (PJ) 1.6 6.9 (77.0%) (5.3) 9.2 (82.8%) (7.6) 10.8 14.7 Electricity CFD Purchases - Wholesale (GWh) 477 506 (5.7%) (29) 395 20.5% 81 872 800 Electricity CFD Purchase Price - Wholesale ($/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 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 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 71 041 75 93 80 129 126 122 881,304 1,284 1,289 1,332 1,345 1,350 1,372 1,363 1000 1050 1100 1150 1200 1250 1300 1350 1400 Q3 Q4 FY25 Q1 Q2 Q3 Q4 FY26 Q1 Q2 FTE Split Core FTE Ecotricity FTE Digital Projects FTE Total FTE KUPE SEGMENT Q2 FY26 Q2 FY25 % Change Var. Q1 FY26 % Change Var. YTD FY26 YTD 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 OTHER Q2 FY26 Q2 FY25 % Change Var. Q1 FY26 % Change Var. YTD FY26 YTD FY25 CORPORATE Employees FTE 1,292 1,270 1.7% 22 1,307 (1.1%) (15) 1,292 1,270 Contractors FTE 71 62 14.5% 9 65 9.5% 6 71 62 Total FTE 1,363 1,332 2.3% 31 1,372 (0.6%) (9) 1,363 1,332 Total Recordable Injuries 6 8 (25.0%) (2) 13 (50.0%) (6) 19 25 For personal use only
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FY26 Q2 Appendix: Retail Segment 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. 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 Q2 Q3 Q4 FY24 Q1 Q2 Q3 Q4 FY25 Q1 Q2 Q3 Q4 FY26 Q1 Q2 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) 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 Q2 Q3 Q4 FY24 Q1 Q2 Q3 Q4 FY25 Q1 Q2 Q3 Q4 FY26 Q1 Q2 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 FY23 Q1 Q2 Q3 Q4 FY24 Q1 Q2 Q3 Q4 FY25 Q1 Q2 Q3 Q4 FY26 Q1 Q2 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 Q2 Appendix: Wholesale 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. Tekapo Storage is total storage including Genesis and competitors. 0 1,000 2,000 3,000 4,000 5,000 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec New Zealand Daily Storage (All Generators, GWh) Long Run Average Storage 12 Month Storage 0 100 200 300 400 500 600 700 800 900 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Tekapo Storage vs. Long Run Average (GWh) Long Run Average Storage 12 Month Storage 0 50 100 150 200 250 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Waikaremoana Storage vs. Long Run Average (GWh) Long Run Average Storage 12 Month Storage 0 1 2 3 4 5 6 7 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Tongariro Generation (GWh/Day) 20 Year Average 7 Day Rolling Average For personal use only
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FY26 Q2 Appendix: Wholesale Segment Genesis Energy Limited FY26 Q2 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 . $50 $100 $150 $200 $250 $300 $350 Mar-23 Jun-23 Sep-23 Dec-23 Mar-24 Jun-24 Sep-24 Dec-24 Mar-25 Jun-25 Sep-25 Dec-25 ASX Futures Spot Pricing ($/MWh) 1-Year Contract 2-Year Contract 3-Year Contract 0 500 1,000 1,500 2,000 2,500 3,000 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 Q2 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 $50 $100 $150 $200 $250 Q3 Q4 FY24 Q1 Q2 Q3 Q4 FY25 Q1 Q2 Q3 Q4 FY26 Q1 Q2 Portfolio & Thermal Fuel Costs Weighted Average Fuel Cost - Thermal ($/MWh) Weighted Average Fuel Cost - Portfolio ($/MWh) Renewable Contribution to Total Generation (%) For personal use only
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FY26 Q2 Appendix: Kupe Segment Genesis Energy Limited FY26 Q2 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. $50 $60 $70 $80 $90 $100 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Brent Crude Oil Spot Price (USD/bbl) 12 Months to Dec 24 12 Months to Dec 25 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 Q2 Kupe Gas Sales Volume (Genesis Share, PJ) Quarterly Sales Volume Rolling 12 Months Sales Volume (RHS) 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 Q2 Kupe Oil Production Volume (Genesis Share, kbbl) Quarterly Production Volume Rolling 12 Month Production Volume (RHS) 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 rev enue 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 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. 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 ($/MWh) Average price paid for Electricity Financial Contract Sales – Wholesale Generation Emissions Carbon emissions due to coal and gas electricity generation Generation Carbon Intensity (tCO2/GWh) Carbon emissions (tCO2) produced per unit of total electricity generated (GWh) Rankine Output Electricity generated in the Huntly Rankine units Rankine’s Fuelled by Coal (%) The proportion of coal used in the Rankine units Total Gas Purchases (PJ) Total gas purchases Total Coal Purchases (PJ) Coal purchases have been converted from tonnes to PJ using the shipments’ Calorific Value Gas Used In Internal Generation (PJ) Gas consumed in electricity generation Weighted Average Gas Burn Cost ($/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 Injuries 12-month rolling Total Recordable 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 T otal 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 Q2 Performance Report 14.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. 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 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. For personal use only
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Investor Relations enquiries David Porter Investor Relations Manager +64 20 418 41186 Moahango Dam For personal use only