Earnings release
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MARKET RELEASE Date: 22 October 2026 NZX: GNE / ASX: GNE FY27 Q1 Performance Report Genesis delivered a strong start to FY27, with favourable market conditions supported by strong national hydro storage keeping wholesale prices lower and enabling the business to leverage its portfolio flexibility, minimise thermal generation, source electricity from the market and redirect available gas to industrial customers. The quarter also marked an important milestone in delivery of the FY32 Growth Plan, with the first Huntly Battery Energy Storage System (BESS) commissioned and FID reached on the Leeston Solar Farm. Customer numbers reflect the planned repositioning of the portfolio towards higher-quality margins, with the return to customer growth in Q4 2026 continuing throughout Q1 2027. Q1 FY27 highlights • Total customers increased during the quarter to 493,450, representing growth of 0.7% since 30 June with electricity customer numbers continuing to increase and LPG connections growing by 1,622 during the quarter. • Thermal generation of 163 GWh, down 620 GWh on pcp. Unit 5 remained idled during the quarter, while strong national hydro storage contributed to lower wholesale market prices, allowing Genesis to flex its portfolio, minimise thermal generation and purchase electricity from the market to meet customer demand. • Huntly BESS Stage 1 (100 MW / 200 MWh) is now commissioned with Stage 2 design and procurement underway and construction expected to commence in Q2 FY27. • Continued delivery of the grid-scale solar pipeline, with Tihori on budget and on track for Q1 FY28 COD, Leeston reaching FID with construction expected to commence in Q2/Q3 FY27, and Rangiriri continuing through the pre-FID phase. • Further strengthening of Genesis’ gas position, Genesis has strengthened its gas position with 11.4 PJ of third-party gas contracted from March 2027 to December 2029 and the Kupe right of first refusal exercised, securing up to 8.6 PJ of additional gas from January 2027 to December 2028. Genesis has also sold ~0.9 PJ of gas to a third party for delivery across January and February 2027 supporting the extension of Unit 5’s planned shutdown to mid-February 2027 and the flexibility to redirect available gas to higher-value uses. • Progress on Genesis’ digital transformation programme, with Release 2 and Release 3 remaining on track and total major digital investment continuing within the $145 million envelope.
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• The coal stockpile remained above 1.2 million tonnes, with favourable hydro conditions resulting in minimal demand for coal generation during the quarter. The coal stockpile includes ~600 kt of strategic reserve funded equally across the four gentailers, with the balance held in Genesis’ own stockpile. ENDS For investor relations enquiries, please contact: Michael Hunter GM Investor Relations & Corporate Valuation M: 021 073 1603 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 nearly 500,000 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. More information can be found at www.genesisenergy.co.nz
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Genesis Energy FY27 Q1 PERFORMANCE REPORT 22 October 2026
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DISCLAIMER Genesis Energy FY27 Q1 Results 2 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 first quarter of the financial year ending 30 June 2027. 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, 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.
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FY27 Q1 PERFORMANCE HIGHLIGHTS KUPE1 Total Electricity Sales 1,766 GWh 108 GWh decrease on pcp2 Total Customers³ 493,450 0.7% increase on Q4 2026 WHOLESALE Hydro Generation 785 GWh 120 GWh decrease on pcp PPA Electricity Generation⁴ 303 GWh 45 GWh increase on pcp Thermal Generation 163 GWh 620 GWh decrease on pcp Kupe LPG Sales 6.2 kt 1.4 kt decrease on pcp Kupe Gas Sales 1.3 PJ 0.3 PJ decrease on pcp Oil Production 25 kbbl 24% decrease on pcp Electricity Netback $184/MWh 1.4% increase on pcp 3 Notes: (1) Kupe metrics show Genesis’ 46% JV share; (2) Prior Corresponding Period (PCP) = Q1 FY26 unless stated; (3) In line with strategic focus on margin quality, targeted rebalancing of supply and demand is starting to unlock value. We have moved to a single Genesis brand, with the amalgamation of Frank and Ecotricity's product ranges; (4) Includes JV and third-party Power Purchase Agreements (PPAs). RETAIL Genesis Energy FY27 Q1 Results
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DELIVERY OF FY32 GROWTH PLAN Genesis Energy FY27 Q1 Results 4 Strong progress across all strategic pillars Grow Customer Value • Customer numbers continued to grow through Q1, increasing 0.7% to 493,450 • Advanced the single-brand strategy through a refreshed visual identity and launch of the “Life at Full Power” platform • Enhanced Power Shout rewards and redemption options, strengthening the customer proposition • Increased EV plan uptake by 2,091 customers during Q1 • Customer Flex reduced peak demand by ~15 MW during the 6–7 Aug price spikes, showing the value of customer flexibility Total “Big Rock” Investment ($m)1 15 35 50 45 FY24A FY25A FY26A FY27E Solar • Tihori Solar (formerly Edgecumbe): under construction with COD Q1 FY28, on budget • Leeston Solar FID; construction starts Q2/Q3 FY27 • Rangiriri Solar pre-FID continuing Onshore Wind Offshore Wind • Offshore Renewable Energy Bill passed, enabling permits for NZ opportunities • Partnership with Taranaki Offshore Partners in place Gas • Baseload gas displacement targeted around FY29 • 11.4 PJ third-party gas contracted Mar 2027–Dec 2029 • Beach ROFR exercised, securing up to 8.6 PJ Kupe gas Jan 2027–Dec 2028 • Strategic review of Unit 5 ongoing • Genesis has sold ~0.9 PJ of gas to a third party for delivery across January and February 2027 Rankines • Planned outages completed successfully, including the first phase of the Unit 2 life extension work (cold survey) and Unit 1 hot inspection BESS • Huntly Stage 1 commissioned and commercial • Stage 2 design/procurement underway; construction starts Q2 FY27 Actual Forecast Notes: (1) $145m is subject to SaaS accounting conventions & is gross of any costs deferred to prepayments Customer Renewables Huntly • On track progressing options for delivery of up 300MW wind by FY32 Make Energy Simpler • Release 2 on track; residential/small business migration starts Q3 FY27 • Release 3 on track; Robotron confirmed for C&I; phased migration starts Q2 FY27 • Major digital spend remains on track at $145m ON TRACK TO DELIVER DIGITAL INVESTMENT “BIG ROCK” INITIATIVESWITHIN THE $145m ENVELOPE Retail Billing & CRM modernisation Finance Management System replacement Wholesale & Markets Trading systems upgrades
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RENEWABLES: STRONG DEVELOPMENT PIPELINE Genesis Energy FY27 Q1 Results 5 Projects that directly address New Zealand’s need for additional firming capacity Notes: (1) Capex estimate now extended to FY32; (2) Project financed with ~$13m equity funding by Genesis; (3) Formerly known as Edgecumbe; (4) Genesis is targeting 500 MW of solar opportunities; (5) Stages 1 & 2 (collectively 228 MWp) are consented. Consents are still to be acquired for Stage 3 (43 MWp); (6) Excludes 300 MW of additional BESS options PROJECT CAPACITY / DURATION STATUS TOTAL PROJECT CAPEX1 COMMENTARY Operational 63 MWP $104m Lauriston solar farm 63 MWP Operating $104m2 Operational Committed growth capex 406 MW ~$599m Huntly BESS stage 1 100 MW / 200 MWh Operating $135m Operational Tihori3 solar farm4 136 MWP Under construction $236m COD Q1 FY28 | on budget Huntly BESS stage 2 100 MW / 200 MWh FID delivered $106m FID – Apr 2026 Leeston solar farm4 70 MWP FID delivered $122m FID – Aug 2026 Progressed growth opportunities 271 MW $470 – 490m Rangiriri solar farm 271 MWP Consented5 $470 – 490m FID expected Q4/Q1 FY27/28 Discretionary growth opportunities – firming6 50 – 100 MW $250 – 400m Gas storage N/A Under active review Discussions ongoing Huntly unit 7 peaker ~50 – 100 MW Under review No further update Discretionary growth opportunities – renewables ~820 MW+ $1.1 – 1.2bn Foxton solar farm4 220 MWP Consented No further update Castle Hill wind farm ~300 MW Consented No further update Early-stage wind prospects ~300 MW Early-stage prospecting No further update Early-stage hydro enhancement N/A Early-stage prospecting No further update Joint Equity / PPAs ~1,000 MW Yinson wind partnership ~1,000 MW Early-stage equity options No further update
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OPERATIONAL UPDATE Genesis Energy FY27 Q1 Results 6 Thermal Units Huntly planned outage campaign in progress: • Unit 5 hot inspection underway • Major works on Rankine units continue into CY27 including U4 cold survey and U2 transformer replacement Coal: • Hydro conditions continued to be favourable in Q1 resulting in minimal demand for coal for generation • Stockpile remained above 1.2 million tonnes Generation: • Thermal generation of 163 GWh (-79% vs pcp ) • Unit 5 was idled, with available gas redirected to support industrial customers • Thermal generation was flexed to manage portfolio exposure and provide the market additional supply when most needed Q1 Performance: • Hydro Generation of 785 GWh (-13% vs pcp) • Genesis lake levels decreased to 113% of average at 30 September Planned outage campaigns in progress, including: • Kaitawa G7 unit major overhaul (including generator replacement, turbine overhaul, penstock painting and main inlet valve refurbishment) began in June and runs through to early CY27 Hydro Schemes LPG: • Customer base grew by 1,622 customers connections (+1.8%) in the quarter • Drury depot is fully operational following the successful transition of the Pukekohe customer base, supporting further growth in Auckland South. The Pukekohe depot has been decommissioned • LPG supply remained secure, with no impact to contracted volumes or delivery schedules • Genesis secured an additional 500T of domestic supply for Q2, reducing exposure to international import prices Kupe JV: • One plant outage in quarter totaling two days • Excluding unplanned outage production has been in line with operator forecast Commercial Businesses
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Genesis Energy FY27 Q1 Results 7 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 FY27 Q1 FY26 Variance YTD FY27 YTD FY26 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 882 GWh $346 305 920 GWh $321 296 (38) GWh $24 9 882 GWh $346 305 920 GWh $321 296 Retail SME Electricity 241 GWh $333 80 254 GWh $318 81 (14) GWh $16 (1) 241 GWh $333 80 254 GWh $318 81 Retail C&I Electricity 403 GWh $287 116 457 GWh $265 121 (54) GWh $22 (5) 403 GWh $287 116 457 GWh $265 121 Ecotricity Electricity 239 GWh $331 79 242 GWh $323 78 (2) GWh $9 1 239 GWh $331 79 242 GWh $323 78 Total Retail Sales 1,766 GWh $329 580 1,874 GWh $307 575 (108) GWh $22 5 1,766 GWh $329 580 1,874 GWh $307 575 Wholesale Electricity Sales 980 GWh $69 67 1,695 GWh $138 234 (714) GWh $(69) (167) 980 GWh $69 67 1,695 GWh $138 234 Total Derivative Settlements (30) 33 (62) (30) 33 Generation Costs - Thermal 163 GWh $235 38 784 GWh $153 120 (620) GWh $82 (82) 163 GWh $235 38 784 GWh $153 120 Generation Costs - Renewable 785 GWh - 0 904 GWh - 0 (120) GWh - 0 785 GWh - 0 904 GWh - 0 Generation Costs - Total 948 GWh $41 38 1,688 GWh $71 120 (740) GWh $(31) (82) 948 GWh $41 38 1,688 GWh $71 120 Retail Purchases Retail Purchases 1,891 GWh $65 124 1,967 GWh $141 277 (76) GWh $(75) (153) 1,891 GWh $65 124 1,967 GWh $141 277 Transmission and Distribution Costs 236 214 22 236 214 POWER PURCHASE AGREEMENTS 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 Power Purchase Agreements 303 GWh $51 15 258 GWh $118 31 45 GWh $(67) (16) 303 GWh $51 15 258 GWh $118 31 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 $58.5 44 0.8 PJ $51.5 42 (0.1) PJ $7.1 2 0.8 PJ $58.5 44 0.8 PJ $51.5 42 Retail SME Gas 0.2 PJ $43.4 10 0.5 PJ $38.0 18 (0.2) PJ $5.3 (8) 0.2 PJ $43.4 10 0.5 PJ $38.0 18 Retail C&I Gas 0.3 PJ $34.9 10 0.8 PJ $35.5 30 (0.5) PJ $(0.6) (19) 0.3 PJ $34.9 10 0.8 PJ $35.5 30 Total Retail Sales 1.3 PJ $50.3 65 2.1 PJ $42.2 90 (0.8) PJ $8.1 (25) 1.3 PJ $50.3 65 2.1 PJ $42.2 90 Wholesale Sales 1.5 PJ $12.8 20 0.1 PJ $10.2 1 1.5 PJ $2.7 19 1.5 PJ $12.8 20 0.1 PJ $10.2 1 Cost of Gas 2.8 PJ $16.2 46 2.2 PJ $14.9 33 0.6 PJ $1.2 13 2.8 PJ $16.2 46 2.2 PJ $14.9 33 Transmission and Distribution Costs 24 31 (7) 24 31 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 5.5 kt $3,514 19 5.4 kt $3,443 18 0.2 kt $71 1 5.5 kt $3,514 19 5.4 kt $3,443 18 SME & Other Bulk LPG Sales 5.8 kt $2,728 16 7.0 kt $2,232 16 (1.2) kt $496 0 5.8 kt $2,728 16 7.0 kt $2,232 16 Total Retail Sales 11.3 kt $3,113 35 12.3 kt $2,759 34 (1.0) kt $354 1 11.3 kt $3,113 35 12.3 kt $2,759 34 Wholesale LPG Sales 0.2 kt $818 0 0.6 kt $1,133 1 (0.4) kt $(314) (0) 0.2 kt $818 0 0.6 kt $1,133 1 LPG Cost 11.4 kt $1,636 19 12.9 kt $1,262 16 (1.4) kt $374 2 11.4 kt $1,636 19 12.9 kt $1,262 16 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 25.1 Kbbl $183.5 4.6 43.2 Kbbl $106.0 4.6 (18.1) Kbbl $77.5 0.0 25.1 Kbbl $183.5 4.6 43.2 Kbbl $106.0 4.6 Gas Sales 1.3 PJ $13.7 17.7 1.6 PJ $13.5 21.3 (0.3) PJ $0.2 (3.5) 1.3 PJ $13.7 17.7 1.6 PJ $13.5 21.3 LPG Sales 6.2 kt $720 4.4 7.6 kt $716 5.4 (1.4) kt $4 (1.0) 6.2 kt $720 4.4 7.6 kt $716 5.4 OPERATING PERFORMANCE
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OPERATING METRICS Genesis Energy FY27 Q1 Results 8 RETAIL SEGMENT Q1 FY27 Q1 FY26 % Change Var. Q4 FY26 % Change Var. YTD FY27 YTD FY26 RETAIL Interaction Net Promoter Score - Genesis 45 43 4.7% 2 63 (28.6%) (18) Gross Customer Churn (3 month rolling average, %) 17.7% 21.6% (18.0%) (3.9%) 18.2% (2.4%) (0.4%) Net Customer Churn (3 month rolling average, %) 10.8% 15.2% (29.3%) (4.5%) 11.0% (2.0%) (0.2%) Electricity Netback ($/MWh) $184.0 $181.4 1.4% $2.6 $189.3 (2.8%) ($5.3) $184.0 $181.4 Gas Netback ($/GJ) $28.8 $27.2 5.9% $1.6 $24.1 19.5% $4.7 $28.8 $27.2 LPG Netback ($/t) $1,768.3 $1,644.9 7.5% $123.4 $1,441.9 22.6% $326.4 $1,768.3 $1,644.9 CUSTOMER NUMBERS Customers > 1 Fuel 136,654 133,042 2.7% 3,612 135,740 0.7% 914 Electricity Only Customers 315,349 324,310 (2.8%) (8,961) 312,864 0.8% 2,485 Gas Only Customers 9,096 12,564 (27.6%) (3,468) 9,371 (2.9%) (275) LPG Only Customers 32,351 32,849 (1.5%) (498) 32,252 0.3% 99 Total Customers 493,450 502,765 (1.9%) (9,315) 490,227 0.7% 3,223 Electricity ICPs Active-Occupied 522,565 532,250 (1.8%) (9,685) 519,281 0.6% 3,284 Gas ICPs Active-Occupied 96,505 101,770 (5.2%) (5,265) 97,330 (0.8%) (825) LPG Customer Connections (#) 90,534 86,233 5.0% 4,301 88,912 1.8% 1,622 Total ICPs 709,604 720,253 (1.5%) (10,649) 705,523 0.6% 4,081 WHOLESALE SEGMENT Q1 FY27 Q1 FY26 % Change Var. Q4 FY26 % Change Var. YTD FY27 YTD FY26 GENERATION Generation Emissions (ktCO2) 130 439 (70.3%) (309) 251 (48.0%) (120) 130 439 Generation Carbon Intensity (tCO2/GWh) 137 260 (47.1%) (122) 204 (32.5%) (66) 137 260 Rankine Output (GWh) 155 175 (11.7%) (20) 76 103.7% 79 155 175 Rankines Fueled by Coal (%) 23% 88% (73.4%) (65%) 24% (0.5%) (0%) 23% 88% Total Gas Purchases (PJ) 4.4 7.2 (38.2%) (2.7) 5.5 (19.8%) (1.1) 4.4 7.2 Total Coal Purchases (PJ) - 9.2 (100.0%) (9.2) - N/A - - 9.2 Electricity CFD Purchases - Wholesale (GWh) 512 395 29.4% 116 307 66.4% 204 512 395 Electricity CFD Purchase Price - Wholesale ($/MWh) $174 $209 (16.4%) ($34.1) $212 (17.7%) ($37.4) $174 $209 Electricity CFD Sales - Wholesale (GWh) 176 470 (62.6%) (294) 234 (24.9%) (58) 176 470 Electricity CFD Sale Price - Wholesale ($/MWh) $194 $232 (16.5%) ($38.2) $218 (10.9%) ($23.6) $194 $232 Gas Used In Internal Generation (PJ) 1.6 4.9 (67.7%) (3.3) 4.2 (62.5%) (2.6) 1.6 4.9 Weighted Average Gas Burn Cost ($/GJ) $17.2 $15.7 9.9% $1.5 $15.5 11.2% $1.7 $17.2 $15.7 Coal Used In Internal Generation (PJ) 0.5 1.8 (74.5%) (1.3) 0.2 104.3% 0.2 0.5 1.8 Weighted Average Coal Burn Cost ($/GJ) $11.6 $11.6 0.2% $0.0 $11.7 (0.1%) ($0.0) $11.6 $11.6 Operational Coal Stockpile - closing balance (kilotonnes) 602 894 (32.7%) (293) 581 3.5% 21 Security Products – coal equivalent energy secured (kilotonnes) 592 166 256.9% 426 608 (2.6%) (16) 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.
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OPERATING METRICS Genesis Energy FY27 Q1 Results 9 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. 1196 1189 1150 1156 1179 1275 1,241 1,259 1,263 63 65 68 71 93 80 129 126 122 88 107 92 911,289 1,332 1,345 1,350 1,372 1,363 1,348 1,351 1,354 1,000 1,100 1,200 1,300 1,400 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 FTE SPLIT Core FTE Ecotricity FTE Digital Projects FTE Total FTE 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. KUPE SEGMENT Q1 FY27 Q1 FY26 % Change Var. Q4 FY26 % Change Var. YTD FY27 YTD FY26 Oil Production (kbbl) 25 32 (23.7%) (8) 26 (5.5%) (1) 25 32 Average Brent Crude Oil (USD/bbl) $97.0 $69.1 40.4% $27.9 $104.5 (7.2%) ($7.5) $97.0 $69.1 LPG Production (kt) 6.0 7.0 (14.2%) (1.0) 5.7 5.4% 0.3 6.0 7.0 LPG Production Yield (t/TJ) 4.6 4.4 4.7% 0.2 4.4 4.7% 0.2 4.6 4.4 OTHER Q1 FY27 Q1 FY26 % Change Var. Q4 FY26 % Change Var. YTD FY27 YTD FY26 CORPORATE Employees FTE 1,294 1,307 (1.0%) (13) 1,286 0.6% 8 Contractors FTE 60 65 (6.8%) (4) 65 (6.5%) (4) Total FTE 1,354 1,372 (1.3%) (18) 1,351 0.3% 4 Total Recordable Injuries1 3 12 (75.0%) (9) 7 (57.1%) (4) 3 12
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APPENDIX: RETAIL SEGMENT Genesis Energy FY27 Q1 Results 10 2,000 3,000 4,000 5,000 6,000 0 400 800 1,200 1,600 2,000 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 FY23 FY24 FY25 FY26 FY27 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) 0.0 2.0 4.0 6.0 8.0 0.0 1.0 2.0 3.0 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 FY23 FY24 FY25 FY26 FY27 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 35,000 40,000 45,000 50,000 0 4,000 8,000 12,000 16,000 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 FY23 FY24 FY25 FY26 FY27 LPG SALES VOLUME (TONNES) Quarterly Bulk & Business LPG Sales Volume Quarterly Bottled LPG Sales Volumes Rolling 12-month Sales Volume (RHS) 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.
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0 1,000 2,000 3,000 4,000 5,000 Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sept NEW ZEALAND DAILY STORAGE (ALL GENERATORS, GWh) Long Run Average Storage 12 Month Storage APPENDIX: WHOLESALE SEGMENT Genesis Energy FY27 Q1 Results 11 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. Tekapo Storage is total storage including Genesis and competitors. 0 200 400 600 800 1,000 Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sept TEKAPO STORAGE VS. LONG RUN AVERAGE (GWH) Long Run Average Storage 12 Month Storage 0 50 100 150 200 250 Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sept WAIKAREMOANA STORAGE VS. LONG RUN AVERAGE (GWH) Long Run Average Storage 12 Month Storage 0 1 2 3 4 5 6 Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sept TONGARIRO GENERATION (GWH/DAY) 20 Year Average 7 Day Rolling Average
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$50 $100 $150 $200 $250 $300 $350 Dec-23 Mar-24 Jun-24 Sept-24 Dec-24 Mar-25 Jun-25 Sept-25 Dec-25 Mar-26 Jun-26 Sept-26 OTA ASX FUTURES SPOT PRICING ($/MWH) 1-Year Contract 2-Year Contract 3-Year Contract APPENDIX: WHOLESALE SEGMENT Genesis Energy FY27 Q1 Results 12 0% 20% 40% 60% 80% 100% $0 $50 $100 $150 $200 $250 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 FY23 FY24 FY25 FY26 FY27 PORTFOLIO & THERMAL FUEL COSTS Thermal Fuel Cost ($/MWh) Portfolio Fuel Cost ($/MWh) Renewable Contribution to Total Generation (%) 0 200 400 600 800 1000 Jan-24 Apr-24 Jul-24 Oct-24 Jan-25 Apr-25 Jul-25 Oct-25 Jan-26 Apr-26 Jul-26 OTA AVERAGE SPOT PRICE ($/MWH) 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. 0 500 1,000 1,500 2,000 2,500 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 FY23 FY24 FY25 FY26 FY27 GENERATION PORTFOLIO (GWH) North Island Hydro South Island Hydro Haunui Wind PPAs Huntly Unit 5 Huntly Units 1 to 4 Gas Huntly Units 1 to 4 Coal Huntly Unit 6
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APPENDIX: KUPE SEGMENT Genesis Energy FY27 Q1 Results 13 0.0 2.0 4.0 6.0 8.0 10.0 12.0 0.0 0.5 1.0 1.5 2.0 2.5 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 FY23 FY24 FY25 FY26 FY27 KUPE GAS SALES VOLUME (GENESIS SHARE, PJ) Quarterly Sales Volume Rolling 12 Months Sales Volume (RHS) 0 50 100 150 200 250 300 0 20 40 60 80 100 120 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 FY23 FY24 FY25 FY26 FY27 KUPE OIL PRODUCTION VOLUME (GENESIS SHARE, KBBL) Quarterly Production Volume Rolling 12 Month Production Volume (RHS) $40 $60 $80 $100 $120 $140 Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sept BRENT CRUDE OIL SPOT PRICE (USD/BBL) 12 Months to Sep 25 12 Months to Sep 26 Prices, volumes and financials in this report are unaudited and subject to change. Reported numbers have been rounded and mig ht not appear to add or multiply.
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GLOSSARY : PERFORMANCE Genesis Energy FY27 Q1 Results 14 ELECTRICITY Retail Resi Electricity Sales of electricity to residential customers Retail SME Electricity Sales of electricity to small business customers Retail C&I Electricity Sales of electricity to commercial and industrial customers Ecotricity Electricity Sales of electricity to Ecotricity customers Wholesale Electricity Sales Sale of generated electricity and residential rooftop solar onto the spot market, excluding PPA settlements and ancillary revenue Total Derivative Settlements Net settlement of electricity derivatives including PPAs, hedges, options, market making obligations and discretionary trading Generation Costs - Total Direct generation costs, inclusive of fuels and carbon Retail Purchases Purchases of electricity on spot market for retail customers Transmission and Distribution Costs Total electricity transmission and distribution costs, connection charges, electricity market levies and meter leasing POWER PURCHASE AGREEMENTS (PPA) Electricity (GWh) Energy purchased through long term agreements with generator Average Price Received for Generation - GWAP ($/MWh) Price received at production node 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 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.
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GLOSSARY : OPERATIONAL METRICS Genesis Energy FY27 Q1 Results 15 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. 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 Rankines 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. 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 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
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GLOSSARY : OPERATIONAL METRICS Genesis Energy FY27 Q1 Results 16 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. 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)
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Contact Michael Hunter General Manager Investor Relations & Corporate Valuation +64 21 073 1603 NGĀ MIHI THANK YOU