Capital Bond Pre-Offer Announcement

MARKET ANNOUNCEMENT
Date: 11 June 2018

NZX: GNE / ASX: GNE

Genesis Energy Limited Considers Capital Bond Offer

Genesis Energy Limited (“Genesis”) is considering an offer of up to NZ$240 million of 30 year subordinated unsecured capital bonds
("Capital Bonds") to New Zealand retail and certain institutional investors.
The offer would be made pursuant to the Financial Markets Conduct Act 2013 as an offer of debt securities of the same class as
existing quoted debt securities and would comprise a general offer of up to NZ$200 million, and an offer of up to NZ$40 million
reserved for existing holders of Genesis' subordinated capital bonds which are quoted on the NZX Debt Market under the ticker
code GPLFA ("GPLFA Bonds"). It is expected that full details of the offer will be released prior to the offer opening, which is expected
to be in the week beginning 18 June 2018.
If the bookbuild for the offer is successful, Genesis intends to exercise its right to redeem the GPLFA Bonds on the first reset date
for the GPLFA Bonds, being 15 July 2018. Trading in the GPLFA Bonds will be suspended from market close today, Monday, 11
June 2018, to allow sufficient time for the registrar to process the documentation to be sent to holders of GPLFA Bonds in relation
to the offer.
Genesis has appointed Bank of New Zealand, Deutsche Craigs Limited, and Forsyth Barr Limited as Joint Lead Managers in relation
to the offer. Craigs Investment Partners Limited is the Organising Participant.
Interested investors, including holders of GPLFA Bonds, can register their interest with the Joint Lead Managers (details below), or
their financial adviser. Indications of interest will not involve an obligation or commitment of any kind. No money is currently
being sought and no Capital Bonds can be applied for or acquired until the offer opens and the investor has received a copy of the
offer documents for the Capital Bonds.
For further information please contact:

BNZ Deutsche Craigs Forsyth Barr
0800 284 017 0800 226 263 0800 367 227

Ends

Dan Dillane
Group Manager Capital Structure
Genesis
021 501 235

About Genesis
Genesis (NZX: GNE, ASX: GNE) is a diversified New Zealand energy company. It sells electricity, reticulated natural gas and LPG
through its retail brands of Genesis Energy and Energy Online. It is New Zealand’s largest energy retailer with around 500,000
customer accounts. Genesis generates electricity from a diverse portfolio of thermal and renewable generation assets located in
different parts of the country. Genesis also has a 46% interest in the Kupe Joint Venture, which owns the Kupe Oil and Gas Field
offshore of Taranaki, New Zealand. Genesis had revenue of NZ$2bn during the 12 months ended 30 June 2017. More information
can be found at www.genesisenergy.co.nz