Genesis Investor Day

Disclaimer
This presentation has been prepared by Genesis Energy Limited (‘Genesis Energy’) for information purposes only. The information in
this presentation is of a general nature and does not purport to be complete nor does it contain all the information requiredfor an
investor to evaluate an investment. This presentation may contain projections or forward-looking statements regarding a variety of
items. Such forward-looking statements are based upon current expectations and involve risks and uncertainties. Actual results may
differ materially from those stated in any forward-looking statement based on a number of important factors and risks.
Although management may indicate and believe that the assumptions underlying the forward-looking statements are reasonable, any
of the assumptions could prove inaccurate or incorrect and, therefore, there can be no assurance that the results contemplated in the
forward-looking statements will be realised. EBITDAF, underlying profit and free cash flow are non-GAAP (generally accepted
accounting practice) measures. While all reasonable care has been taken in compiling this presentation, 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. This presentation does not constitute investment advice.
Genesis Energy Limited Investor Day November 2018 2.

Investor Day Agenda
8:00 –8:30Welcome breakfast
8:30 –9:00Overview of the dayMarc England
9:00 –10:30Business update
•Customer platform
•Wholesale market
•Kupe (with Beach Energy)
•Nigel Clark
•Shaun Goldsbury
•Andre Gaylard
10:30 –11:00Morning tea, including business intelligence demonstration
11:00 –12:30Strategy Expo
•Residential value and Business growth
•Generation transition and fuels optimisation
•James Magill
•Tracey Hickman and Chris Jewell
12:30 –1:00Genesis outlook, followed by Q&A with Executive team•Chris Jewell and Matt Osborne
1:00 –1:30Travel to Huntly Power Station
1:30 –3:00Tour of Huntly Power Station
Genesis Energy Limited Investor Day November 2018 3.

Key messages
Genesis Energy Limited Investor Day November 2018 4.

308
345
335
333
361
350-370
FY14FY15FY16FY17FY18FY19f
$ MILLIONS
Our investment proposition of strong yield is underpinned by growth
13.0
16.0
16.4
16.6
16.9
7.2%
9.2%
7.7%
6.8%
6.9%
0%
2%
4%
6%
8%
10%
12%
0
FY14FY15FY16FY17FY18
Dividends (CPS)Net Yield %
DIVIDEND CENTS PER SHARE&YIELD
1.Net dividend yield based on year end closing share price as at
30 June (FY18 $2.44)
2.FY18 full year dividend of 16.9 cps declared (up 1.8%), with
80% imputation, representing a 6.9% net yield. DRP offer
remains in place with 2.5% discount
0%
1%
2%
3%
4%
5%
6%
7%
8%
9%
10%
2015201520162016201720172018
Mean90th Percentile
75th Percentile25th Percentile
GNE
NZX 50 / ASX 100 YIELD COMPARISON
Bloomberg
EBITDAF
Genesis Energy Limited Investor Day November 2018 6.

Genesis is powered by a great team...
Continuing
strong
health and
safety focus
Aligning
around our
strategy to
succeed
together
Valuing
diversity of
people and
ideas
Genesis Energy Limited Investor Day November 2018 7.

... supported by energised and inspiring leaders
Directors
Executive
team
Other
presenters
Shaun Goldsbury
GM Wholesale
Emma-Kate Greer
GM Corporate Relations
David Gutteridge
GM Residential Segment
Troy Hicks
GM Business Segment
Cameron Jardine
GM LPG Operations
Marc England
Chief Executive
Chris Jewell
Chief Financial Officer
Tracey Hickman
EGM Generation and
Wholesale
Nigel Clark
EGM Customer and
Service Operations
James Magill
EGM Product
Marketing
Nicola Richardson
EGM People and Culture
Matthew Osborne
EGM Corporate Affairs
Barbara ChapmanDoug McKayPaul ZealandJoanna PerryTim MilesMaury LeylandJames Moulder
Andre Gaylard
GM Kupe and
Corporate Finance
Wendy Jenkins
GM Planning and
Investor Relations
Genesis Energy Limited Investor Day November 2018 8.

Our ways of working make us safe, fast and flexible
125 people
engaged in 18
squads aligned to
four tribes
10% increase in
velocity over last
six months allowing
for better
predictability of
cost and benefit
realisation
Squads have
completed up to 60
sprints
Genesis Energy Limited Investor Day November 2018 9.

0.26
1.20
0
1
2
3
4
5
6
7
8
0
1
2
3
4
Oct-16Dec-16Feb-17Apr-17Jun-17Aug-17Oct-17Dec-17Feb-18Apr-18Jun-18Aug-18Oct-18
Actual Injuries
Frequency Rate
GENESIS EMPLOYEE & CONTRACTORS TRIFR
Oct 2016 -Oct 2018
1
Lost TimeRestricted Work
MedicalTRIFR
Our diversity and culture drive our successful strategy delivery
GENDER MIX
%
male
%
female
of senior
management
including Directors
are female
%
Commitment to being an
inclusive and diverse employer
through Genesis’ employee share scheme
38% of employees have bought nearly
$1 million of shares
0%
10%
20%
30%
40%
50%
60%
70%
80%
FY17FY18
STAFF BELIEVE OUR PRODUCTS AND
SERVICES ARE AS GOOD AS, OR BETTER
THAN, OUR COMPETITORS
30% point lift
Two thirds of
employees engaged into
Genesis R U OK
programmes
Gender pay gap has dropped
%
%
MINDING THE GAP
Engagement and confidence in
business success on the rise
Wellbeing and safety is more
than just a responsibility
Genesis Energy Limited Investor Day November 2018 10.
1
LPG business purchased August 2017

Our purpose is to reimagine energy to put control in our customers’ hands
Fuels
Platform
Brands
Genesis Energy Limited Investor Day November 2018 11.

Genesis in numbers
Genesis Energy Limited Investor Day November 2018 12.

Diversity of earnings across sectors, fuels and markets
GROSS MARGIN CONTRIBUTION (FY18)
Gas 11%
Oil 6%LPG 3%
Renewable generation 30%
Thermal generation 12%
LPG 1%
Residential electricity 20%
Business
electricity
6%
LPG 7%Gas 4%
KUPE 20%WHOLESALE 43%CUSTOMER 37%
ElectricityGasLPGOil
Genesis Energy Limited Investor Day November 2018 13.

Core markets stable or growing
Growth is
forecast in
NZ energy
demand
0
40,000
80,000
120,000
160,000
200,000
Mar-12
Sep-12
Mar-13
Sep-13
Mar-14
Sep-14
Mar-15
Sep-15
Mar-16
Sep-16
Mar-17
Sep-17
Mar-18
Sep-18
LPG GROWTH CONTINUES
ROLLING 12 MONTH SALES (KT)
Bulk Market45 kg MarketForklift Market9 KG MarketAuto Market
LPG data
-
10
20
30
40
50
60
Mar-12
Sep-12
Mar-13
Sep-13
Mar-14
Sep-14
Mar-15
Sep-15
Mar-16
Sep-16
Mar-17
Sep-17
Mar-18
GAS DEMAND STABLE
4 QUARTER MOVING AVERAGE (PJ)
Consumption Energy Transformation Non-Energy Use
MBIE
data
LPG 45 kg
market grew
6% in last
12 months
35,000
40,000
45,000
50,000
55,000
60,000
65,000
200420052006200720082009201020112012201320142015201620172018201920202021202220232024202520262027202820292030
GRID DEMAND FORECASTS (GWH)
Historical demandTranspower
MBIE - LowMBIE - High
Productivity Comm. - LowProductivity Comm. - High
2,800
3,000
3,200
3,400
3,600
3,800
4,000
JanFebMarAprMayJunJulAugSepOctNovDec
GRID DEMAND
SHOWING SIGNS OF GROWTH (GWH)
5 year range2018
EA data
Est.
Genesis Energy Limited Investor Day November 2018 14.
kg

...with electricity markets reflecting tighter capacity margins
EA data
Energy and
capacity
shortages
showing
Tiwai4
th
potline
adds to
demand
Regulatory
review of
electricity
prices
underway
0%
5%
10%
15%
20%
25%
20182019202020212022
NEW ZEALAND WINTER ENERGY
MARGIN FORECAST TO TIGHTEN
1% demand growth2% demand growth
REQUIRED SECURITY MARGIN
Transpower data
22
23
24
25
26
27
28
29
30
31
32
201320142015201620172018
RESIDENTIAL ELECTRICITY PRICE (C/KWH)
0
50
100
150
200
250
300
350
400
Jul-13
Oct-13
Jan-14
Apr-14
Jul-14
Oct-14
Jan-15
Apr-15
Jul-15
Oct-15
Jan-16
Apr-16
Jul-16
Oct-16
Jan-17
Apr-17
Jul-17
Oct-17
Jan-18
Apr-18
Jul-18
Oct-18
WHOLESALE ELECTRICITY PRICE ($/MWH)
MBIE data
Genesis Energy Limited Investor Day November 2018 15.
Average over the period

...and fuel markets tightening
LPG
market
moves to
net import
International
oil prices have
increased
Oil and gas
exploration to
be restricted
0
2
4
6
8
10
12
14
0
50
100
150
200
250
201820192020202120222023202420252026202720282029203020312032203320342035
FORECAST GAS AND LPG PRODUCTION PROFILE
Gas (PJ - LH Axis)LPG (PJ - RH Axis)
0
20
40
60
80
100
120
Jun-13
Dec-13
Jun-14
Dec-14
Jun-15
Dec-15
Jun-16
Dec-16
Jun-17
Dec-17
Jun-18
BRENT CRUDE (USD/BBL)
Bloomberg
MBIE data
Genesis Energy Limited Investor Day November 2018 16.
-
200
400
600
800
1,000
1,200
1,400
1,600
1,800
20082009201020112012201320142015201620172018
Export parityImport parity
NZ LPG IMPORT/EXPORT PARITY PRICING (NZD/T)
Woodward

800
1000
1200
1400
2015201620172018 estimate
RESIDENTIAL LITHIUM-ION BATTERY STORAGE
COSTS (USD/MWH)
Lazard
Energy transformation is creating opportunities
$0
$5
$10
$15
$20
$25
$30
Jun-14
Dec-14
Jun-15
Dec-15
Jun-16
Dec-16
Jun-17
Dec-17
Jun-18
Dec-18
Jun-19
Dec-19
Jun-20
Dec-20
Jun-21
NEW ZEALAND CARBON UNITS PRICE
Desktop search
Mobile search
ENERGY SEARCH VOLUME TREND
Genesis Energy Limited Investor Day November 2018 17.
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
Jun-14
Dec-14
Jun-15
Dec-15
Jun-16
Dec-16
Jun-17
Dec-17
Jun-18
Dec-18
Jun-19
Dec-19
Jun-20
Dec-20
Jun-21
ELECTRIC VEHICLE FLEET
PENETRATION (NZ)
Light Vehicle fleet EV Penetration
Projection 50% CAGR
Projection 100% CAGR
NZTA
0%
1%
2%
3%
4%
Jun-14
Dec-14
Jun-15
Dec-15
Jun-16
Dec-16
Jun-17
Dec-17
Jun-18
Dec-18
Jun-19
Dec-19
Jun-20
Dec-20
Jun-21
SOLAR MARKET PENETRATION (NZ)
ICP uptake rate (%)
Projection linear
Projection 50% CAGR
Electricity Authority
0.8
1
1.2
1.4
Jun-14
Dec-14
Jun-15
Dec-15
Jun-16
Dec-16
Jun-17
Dec-17
Jun-18
Dec-18
Jun-19
Dec-19
Jun-20
Dec-20
Jun-21
WIND TURBINE PRICE INDEX
Price indexProjection
BNEF
Google
250
200
150
100
50
0
Jan
-
14
Jan
-
15
Jan
-
16
Jan
-
17
Jan
-
18

Our VISION is to be customers’ first choice for energy management
Our PURPOSE is to reimagine energy to put control in our customers’ hands
PERFORMING
TRANSFORMING
Increase # of customers using
energy management tools and
increase digital interactions
Grow our earnings and deliver top
quartile shareholder returns
Be #1 or #2 in every
product market
Energise our people and improve
engagement
Keep our people
healthy and safe
Maximise the value of our assets,
products and businesses
Embrace diversity
of thought
Employees are engaged advocates for
our brands and products
Move toward a lower
carbon future
Be New Zealand’s most
loved brand
Our STRATEGY is to maximise value through our market position
Wholesale & Kupe segment
•Our integrated fuel position minimises costs for us and our customers
•Our generation mix gives us flexibility tomaximise valuein theenergy markets
•We are leading the way to transition the NZ energy sectorsuccessfully to a more
renewable future
Customer segment
•We offer a full three fuel (electricity, gas and LPG) solution for our customers
•We aim to differentiate our products with seamless service,useful insights and digital tools
•Our ambition is to change how consumers engage with their energy
We are performing while transforming
Genesis Energy Limited Investor Day November 2018 18.

We have created a Customer Platform fit for the future
Re-launched
brand
Built digital
architecture
Integrated
operations
Platform
Brand re-launch has helped us regain
market leadership
•5% improvement in promoter score
whilst NPS trending positive
1
•5% improvement in brand ‘Top 2
Consideration’, a lead indicator for
sales conversions
•Cut through of new Energy IQ
proposition driving innovation and
leadership positioning with
customers and prospects
Operational integration maximises value
creation across the business
•Integrated ex-Nova LPG business
•Brought forward early exit from Elgas to
migrate to Genesis-only platform
•Migrated all ex-Nova LPG customers onto
Gentrack platform
•Consolidated office space into new Kenehi
on Bryce space
•Adopted flexible ways of working
Our technology platform is built for product
innovation
•Billing migration completed with zero
downtime –common platform for two brands
•Greatest range of Azure cloud services in NZ
•First in NZ with Azure Massively Parallel SQL
Data Warehouse
•Integrated technology business unit into the
rest of the business (no separation between
technology and business)
1
July 2017 -September 2018
Genesis Energy Limited Investor Day November 2018 20.

Our brand re-launch has helped us regain market leadership
“THE MARKET LEADER”
28
+7 PTS
19
+4 PTS
17
+7 PTS
9
+1 PT
19
NC
“PUTTING PEOPLE IN CONTROL
OF THEIR ENERGY USE”
23
+8 PTS
15
+3 PTS
11
+1 PTS
16
+1 PT
11
+1 PT
“LEADING THE WAY WITH
NEW TECHNOLOGY”
28
+14 PTS
15
+6 PTS
15
+9 PTS
13
+1 PTS
9
+4 PTS
Change in score from May 2017 to August 2018
WHEN ASKED, PEOPLE
RECOGNISED GENESIS AS:
Genesis Energy Limited Investor Day November 2018 21.

Our technology platform is built for product innovation
Our scalable, flexible, modular technology architecture brings speed and cost advantage
Four years
ago...
•Four forecast market models
•Took more than 12 months
•Cost $2.6m
Two years
ago...
•Four updated market models
•Took six months
•Cost $107k
Last
year...
•100,000 customer-specific
models
•Took less than one month
•Cost $5k
Our architecture strategy is to integrate
best-in-breed applications ...
TIME AND COST TO BUILD FORECAST MODELS
DIGITISING OUR CUSTOMER EXPERIENCE
...which is transforming our digital capability and customer experience
51%
42%
38%
14%
13%
13%
35%
45%
49%
FY16
FY17
FY18
FY21
PhoneEmailSelf Serve
FY17 to
FY18
53%
FY16 to
FY17
44%
Staff assisted -65%
Staff assisted -55%
Staff assisted
YOY i ncre ase in
Se l f Serve
I nte ractions:
Staff assisted -51%
Pro
active
Unassisted service
Genesis Energy Limited Investor Day November 2018 22.

Operational integration maximises value creation across the business
CUSTOMER
SYSTEMS
Common platform
for both brands
and all fuels
LPG
OPERATIONS
One logistics
operation for both
brands
PEOPLE
Multi-functional
Centre of
Excellence
Genesis Energy Limited Investor Day November 2018 23.

-10%
0%
10%
20%
30%
40%
50%
60%
Jul-17
Aug-17
Sep-17
Oct-17
Nov-17
Dec-17
Jan-18
Feb-18
Mar-18
Apr-18
May-18
Jun-18
Jul-18
Aug-18
Sep-18
Promoter - Genesis 3 Month RollingNPS - Genesis 3 Months RollingInteraction NPS Score
Platform investment is delivering a difference and positions us for growth
DUAL FUEL CUSTOMER GROWTH (UP 5%) AND CHURN (ROLLING 3 MONTH)
>130,000
Total unique users for
My Account/Energy IQ
1
> 350,000
PowerShouts
redeemed
2
1
As at 30 September 2018
2
PowerShouts redeemed from March to September 2018
GENESIS NPS, PROMOTER SCORE AND INTERACTION NPS
> 40 %
Customers linked to
Fly Buys
1
0%
5%
10%
15%
20%
25%
30%
100,000
102,000
104,000
106,000
108,000
110,000
112,000
Jul-17
Aug-17
Sep-17
Oct-17
Nov-17
Dec-17
Jan-18
Feb-18
Mar-18
Apr-18
May-18
Jun-18
Jul-18
Aug-18
Sep-18
Dual Fuel Customers (LHS)Multi-fuel ChurnSingle Fuel Churn
+5 points
+8 points
+2 points
Genesis Energy Limited Investor Day November 2018 24.

Value from residential
loyalty
Simplicity
Service
Energy
Management
Energy IQ
Knowledge
Advice
Action
Targeted business
growth
Multi-fuel platform
Genesis Energy Limited Investor Day November 2018 25.

Energy Plans
Energy Management
KnowledgeAdviceAction
Time of use
Fixed/Variable
Contract/Uncontracted
MyAccount
PowerShouts
My Plan
My Energy Plan
Flybuys
Energy IQ
-Electricity forecast
-Usage breakdown
-Home comparison
Energy IQ Premium
-Electricity monitoring
Energy Hub
Solar Monitoring
Electricity insights
Energy IQ Premium
-Bottled Gas monitoring
Business Consultancy
Energy Audit
Solar
Battery Storage
Trusted Trades
Heat pump control
We’ve made meaningful progress with our product-led strategy
Key: Scaled Small scale / trial stage
Products
2 years ago
Launched
in last
2 years
Genesis Energy Limited Investor Day November 2018 26.

Focusing on enhancing loyalty
FY19 will deliver product differentiation at scale
GENESIS CUSTOMER CHURN RATE (BY MONTH, ALL FUELS)
1
1
Monthly Churn Annualised (most recent 2 months are estimated on EOM losses and may change)
2
Based on Total Residential ICPs for electricity, gas and LPG
1% churn equals
~$1-2mEBITDAF
per annum
2
1% price increase
equals ~$7-8m
EBITDAFper
annum
2
Genesis Energy Limited Investor Day November 2018 27.
0%
5%
10%
15%
20%
25%
30%
Jul-17
Aug-17Sep-17
Oct-17
Nov-17Dec-17
Jan-18
Feb-18Mar-18
Apr-18
May-18
Jun-18
Jul-18
Aug-18Sep-18
TotalSingle FuelDual Fuel
Power
Shout I
Power
Shout II
Energy IQ
Launch
Bottle Gas
Monitoring Launch
Power
Shout III
Power
Shout IV
Move to the
Future II
Electricity
Monitoring Launch
Dual
Fuel
Refresh
Next 3 -6
months
Move to the
Future I

Continued progress on optimising residential segment value
90%
95%
100%
105%
110%
Aug-17Sep-17
Oct-17
Nov-17Dec-17
Jan-18
Feb-18
Mar-18
Apr-18
May-18
Jun-18
Jul-18
Aug-18
INDEXED CUSTOMER LIFETIME VALUE
2
–GENESIS RESIDENTIAL
OUR APPROACH TO REDUCING “STANDSTILL COST” –GENESIS RESIDENTIAL
364
101
31
55
348
0
50
100
150
200
250
300
350
400
Customer base
FY17
Gross churnReactive
retention
AcquisitionCustomer base
FY18
Customers (000)
Incremental gross churn without loyalty rewards and products
1
$
$$
$$$
Low cost per customer
$
High cost per customer
$$$
Investing pro-actively in brand, loyalty rewards and products, yields a
greater ROI than reactive retention or acquisitions
1
2
1
2
Net churn
YOY Net customer movement
1
Estimate via control groups
2
NPV of customer lifetime income, based on individual cost, revenue and churn profile
RESIDENTIAL NETBACK
FY17FY18FY19 (f)
Electricity($/MWh)117.1111.4113 -117
Gas ($/GJ)10.810.611 -12
LPG ($/Tonne)396.7791.0850 -870
Genesis Energy Limited Investor Day November 2018 28.

Dual brand strategy
Critical to enabling mass market strategy
•Market Role: Market leader that brings to life the future
of energy and has deep, valuable customer relationships
•Purpose: Reimagine energy to put control in the hands
of our customers
•Personality: Warm, energetic, switched on, inspiring
•Market Role: Challenger with attitude. Nimble
enough to deliver to customers with simpler needs
•Purpose: Brilliantly simple energy powered by
passionate people
•Personality: Irreverent, authentic, straight up
1
EOL competitor switch to Genesis averages @ 7% of total switches (vs 20% market share of Genesis),
whilst Genesis competitor switch to EOL averages @ 5% of total switches (vs 4% market share)
~6%of total ICP churn is
between brands
1
Genesis Energy Limited Investor Day November 2018 29.

BUSINESS SALES TEAM COVERAGE
FY17
FY19
Electricity & Gas
Electricity, LPG & Gas
Electricity & LPG
BUSINESS NETBACK
Focus on growing business volume
Early signs that investment is paying off
Genesis Energy Limited Investor Day November 2018 30.
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
FY16FY17FY18FY19FY20FY21
LPG tonne
Electricity & Gas GWh
BUSINESS BILLED VOLUME
Electricity ForecastElectricity ActualGas Forecast
Gas ActualLPG Forecast
FY17FY18FY19 (f)
Electricity($/MWh)
88.587.788 -91
Gas ($/GJ)
7.87.68 -9
LPG ($/Tonne)
n/a755850 -900
Monitoring
Bottled gas
monitoring

Targeted growth through differentiation
Agriculture and hospitality are our initial focus
Genesis Energy Limited Investor Day November 2018 31.
HOSPITALITY
An under-served but
valuable segment
Heavy use of LPG
within specific
segments
AGRICULTURE
Complements our
Retail profile
Heavy use of LPG
within specific
segments
Genesis Energy Limited Investor Day November 2018 31.

16%
19%
24%
40%
0%
20%
40%
60%
80%
Simple
Make energy simple by providing multiple fuels, at multiple
sites, on one bill
Service
Proactively health check our customers to make sure they’re
on the best plan for their business
Energy Management
Create the best energy management tools to monitor,
control and be more efficient with energy
Brand identity critical to growth
Putting our energy into your business
OUR CUSTOMER VALUE PROPOSITION
WEEK 1
WEEK 1
WEEK 5
WEEK 5
Top of Mind Awareness
(1
st
mentioned)
Top 2 Consideration
BRAND METRICS: BUSINESS CUSTOMERS
Non Customers
9% -23%
Genesis Customers
51% -54%
Non Customers
10% -39%
Genesis Customers
90% -85%
+16%
Genesis Energy Limited Investor Day November 2018 32.

Customer Value
Cost Reduction
Volume
Growth
Customer
Value
Cost Reduction
Volume
Growth
Growth in the customer segment
Growth in the customer segment will deliver $20-30m incremental EBITDAF
RESIDENTIAL
INCREMENTAL EBITDAF FROM FY19 -FY21 $14-21M
BUSINESS
INCREMENTAL EBITDAF FROM FY19 -FY21 $6-9M
Includes LPG Synergies of $4-6 million per annum by FY21. Synergies remain on track
Genesis Energy Limited Investor Day November 2018 33.

How we think about Energy Management
ACTIVITIES WITHIN AN ENERGY MANAGEMENT VALUE CHAIN
Advice
Buy
Install
Optimise
& control
Protect
Knowledge
Energy related assets:
-Heating and Cooling
-Hot water
-Distributed generation
-Storage
-EV infrastructure
-Metering
-Building & home energy
management systems
-Control units
-Insulation
Key: Available nationally Trial / MVP
Electricity forecast
Usage breakdown
Home comparison
Energy Hub
Solar monitoring
Electricity monitoring
Electricity insights
Bottled gas monitoring
My Energy Plan
Business consultancy
Energy audit
Solar
Battery storage
Solar
Battery storage
Trusted Trades
Heat pump control
Action
Genesis Energy Limited Investor Day November 2018 34.

Risks impact the wholesale electricity market
Spot prices rise to reflect wind volatility, low inflows and reduced gas production
Dry
Dry
Gas constrained
and dry
Low
wind
People don’t value
earthquake insurance...until
there’s an earthquake
The value of risk products is
apparent in the wholesale
markets right now
0
50
100
150
200
250
300
350
400
Jul-13
Oct-13
Jan-14
Apr-14
Jul-14
Oct-14
Jan-15
Apr-15
Jul-15
Oct-15
Jan-16
Apr-16
Jul-16
Oct-16
Jan-17
Apr-17
Jul-17
Oct-17
Jan-18
Apr-18
Jul-18
Oct-18
WHOLESALE ELECTRICITY PRICE
WEEKLY AVERAGE ($/MWH)
Genesis Energy Limited Investor Day November 2018 36.

Renewable volatility drives price volatility
Low hydro storage and increasing wind exposure increases need for dispatchable capacity with energy storage
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
Jan-18
Feb-18
Mar-18
Apr-18
May-18
Jun-18
Jul-18
Aug-18
Sep-18
Oct-18
Nov-18
Dec-18
Jan-19
Feb-19
Mar-19
Apr-19
May-19
Jun-19
NZ CONTROLLED STORAGE AND RISK CURVE (GWH)
1%10%Controlled storageMean NZ Storage
Genesis Energy Limited Investor Day November 2018 37.
0
50
100
150
200
250
26 June 201827 June 201828 June 201829 June 201830 June 2018
WIND GENERATION IN NEW ZEALAND (MW)

$-
$200
$400
$600
$800
$1,000
$1,200
159131721252933374145
$/MWh
Thermal firming is market critical
Rankines able to capture high prices caused by scarcity of firming capacity and stored energy
HYDRO AND GAS FIRMING
22/10/2018
1
Below average hydro storage and gas
constrained.
WIND FIRMING
28/6/2018
1
Above average hydro storage but high demand
and wind below forecast.
1
Average hydro storage and no other constraints shown for comparison –22/9/2018
Genesis Energy Limited Investor Day November 2018 38.
Energy storage (coal or gas storage) is
needed to maximise this value
Rankine Units and potentially Unit 5 able
to capture value by backing up market
shortfalls:
•Hydro and gas shortages
•Low wind
•HVDC outages
•Gas outages (production and pipeline)
•Generator outages e.g. Taranaki
Combined Cycle (TCC)
$-
$200
$400
$600
$800
$1,000
$1,200
159131721252933374145
$/MWh

We have proven the ability to operate Unit 5 flexibly
Combined with more flexible gas portfolio drives enhanced value
Genesis Energy Limited Investor Day November 2018 39.
60%
65%
70%
75%
80%
85%
90%
95%
100%
Oct 15 to Sep 16Oct 16 to Sep 17Oct 17 to Sep 188 Oct 18 to 14 Oct 18
UNIT 5 PERCENTAGE OF TIME OFF
Percentage OnPercentage Off
0
50
100
150
200
250
300
350
400
450
159131721252933374145159131721252933374145
26/09/201827/09/2018
RECENT UNIT 5 OPERATION
Excludes scheduled maintenance shutdown from 26
th
October

Creating flexibility today
Our ability to optimise resources across markets creates value
STRATEGIC FOCUS
ON SUMMER
WHOLESALE GAS
CONTRACTS
Contracts to take
100% of gas from
Kupe
Helps maximise
Kupe production
during the
summer, which
increases oil and
LPG production
Allows more
flexibility in the
running of Unit 5
Load shape
complements
book to offset
winter heavy
retail customers
Profitable
contracts with
large industrial
gas users
First contract
signed, and
targeting deals
with other
synergistic
companies
Genesis Energy Limited Investor Day November 2018 40.

Rankines add value to Genesis even when not operating
In addition to profitable running, there are three core value streams from Rankine availability
Swaptions
(Or other
insurance-like
products)
Ability to
maximise use
of hydro
storage
Provides a
clear shadow
price for
alternative
hedges
Genesis Energy Limited Investor Day November 2018 41.

Our emissions are largely hedged through to 2025
We are also investigating longer term hedging options
FY18FY19FY20FY21FY22FY23FY24FY25
NZ Units as % of potential exposure
Hedged EmissionUnhedged Volume
$6$9-14$15-20$17-22$17-22$19-24$20-25$20-25
CARBON HEDGE POSITION
Genesis Energy Limited Investor Day November 2018 42.
Short-hedging has been
successful to date
For longer term hedging, we are
investigating the full spectrum of
possible options, ranging from
direct ownership of forests to off-
take agreements

Most carbon costs are recovered directly
Only a small portion of costs are not included as a direct pass through into prices/contracts
INDICATIVE SPREAD OF CARBON EXPOSURE ACROSS MARKETS
LPG salesRecovery –100%, via pricing of LPG
Wholesale gas salesRecovery –100%, Genesis receive the credits
Retail gas salesRecovery –100%, via pricing of Gas
Contracted thermal generationRecovery –100%, Genesis receives the credits
Generation into spot marketRecovery –very high, close to 100% via thermal offers
Generation for customersRecovery –between 70-100% depending on market
Genesis Energy Limited Investor Day November 2018 43.

Cost recovery of generation burn varies
Ability to fully recover cost of carbon supported by dry weather and under supplied market
Over supplyUnder Supply
Wet
Good
70%-85%
recovered
Better
85%-95%
recovered
Dry
Better
85%-95%
recovered
Best
95%-100%
recovered
Increased
flexibility in gas
position and Unit 5
flexibility will
improve our ability
to recover carbon
costs
Not including portfolio impact on renewable margins
Genesis Energy Limited Investor Day November 2018 44.

Integrated portfolio provides flexibility
We have options to respond to a wide variety of market conditions
Genesis Energy Limited Investor Day November 2018 45.

0
50
100
150
200
250
300
350
400
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
JanFebMarAprMayJunJulAugSepOctNovDec
Solar Monthly Total (GWh)
Monthly Totals (GWh)
SEASONAL STORAGE CHALLENGE
South Island InflowNational DemandSolar Generation (per 1000MW Installed)
New Zealand’s unique seasonal demand challenge
Demand is highest in winter, when southern inflows are the lowest
Genesis Energy Limited Investor Day November 2018 46.
Storage or generation with flexible fuel
sources need to address market challenges
•2,000 GWh more energy is needed in
winter than summer
•Over 12 months hydro inflow can be
around 5,000 GWh below average in a
dry spell
•That means 7,000 GWh of deep energy
storage is needed to deal with
seasonal shift and dry year support
•NZ’s hydro lakes provide 4,000 GWh
storage, leaving a 3,000 GWh gap in a
dry spell

NZ’s hydro storage is too small to manage droughts
Even with 4 times the relative storage and with EU interconnector, Norway is still only 98% renewable
NZ has 2 months hydro storage
(85% renewable)
Norway has 8 months hydro storage
(98% renewable)
,000
5,000
10,000
15,000
20,000
25,000
30,000
Annual GenerationWet/Dry VariationStorage
NEW ZEALAND HYDRO BY GWH
,000
20,000
40,000
60,000
80,000
100,000
120,000
140,000
Annual GenerationWet/Dry VariationStorage
NORWAY HYDRO BY GWH
Genesis Energy Limited Investor Day November 2018 47.

Deep energy storage is a big challenge
There are limited options available to store 3,000 GWh of energy
5 more hydro
schemes the size
ofLake Taupo
10 million 45kg LPG
bottles (plus some
sort of generator)
80% of the potential
Huntly coal stockpile
(1.4m tonnes)
140 Tesla Powerwalls
per household
($2m per house)
Genesis Energy Limited Investor Day November 2018 48.

Portfolio delivers value from flexibility & reliability
Likely renewable builds have a different role in the market to thermal generation
Generation Role
Thermal
(Gas)
Thermal
(Coal)
Hydro
Geo-
thermal
Wind&
Solar
Batteries
Baseload
Runs 24/7


⃝
Daily Flex
Can turn it on/off (or up/down) for a few hours
⃝


Weekly Flex
Can turn it on/off(or up/down) for a few days


Dry Year Support
Hasfuel storage to run in droughts (c. 3000 GWh)
⃝

Always

Sometimes
⃝
Genesis Energy Limited Investor Day November 2018 49.

High renewable penetration will have challenges
If you just overbuild renewables, price rises 20% on average and becomes much more volatile
MONTHLY PRICE VOLATILITY
ANNUAL PRICE VOLATILITY
$-
$100
$200
$300
$400
$500
83807774716865625956535047444138353229262320171411852
Annual Price ($/MWh)
100% Renewable in an average hydrological year85% Renewable
Genesis Energy Limited Investor Day November 2018 50.
$-
$50
$100
$150
$200
$250
JanFebMarAprMayJunJulAugSepOctNovDec
Monthly Price ($/MWh)
100% Renewable in an average hydrological year85% Renewable
Wet
Dry
Average Hydrology

Our portfolio spans a range of sub-markets
Changes to value, volume and cost will change opportunity over time
Wholesale Portfolio ResourceToday2022-20302030+
Baseload electricity
Most value exists from energy
sales in today’s market
Falling cost of wind technology
and new builds expected to cap
energy market value in near
term
Electrification of transport and
industry drives electricity
demand and scarcity of
renewable resources
Daily flex electricity
Hydro’s dominance and its
ability to adjust over short
timeframes limits opportunity
Growing wind penetration and
falling thermal creates scarcity
in flexible energy
Energy Management, batteries
and EVs all act to limit growth in
value of daily flex energy
Weekly flex electricity
Growing wind penetration and
falling thermal creates scarcity
in flexible energy
Dry year support electricity
Few alternative options mean
remaining equipment can
secure value
Limited value
opportunity
Some value
opportunity
Strong value
opportunity
Genesis Energy Limited Investor Day November 2018 51.

Contracts are an increasingly important part of our portfolio
It’s not about who owns what assets, it’s about where you get your electricity from
Renewables
ASX
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
Thermal GenerationHydro GenerationContracted Generation
GWh
Generation Type
SOURCES OF GENERATION VOLUMES FOR PORTFOLIO IN FY18
Renewables
•Genesis doesn’t need to invest our own
capital and operate assets
•Our interest is in the electricity offtake as
part of our portfolio to support our
customers
•Strategic partnerships will be key for us
moving forward
•Waverly will add 350-390 GWh of
renewable energy to our portfolio
•We are investigating additional contracts
Genesis Energy Limited Investor Day November 2018 52.

We are maximising value as NZ transitions to a low carbon future
Securing low cost
renewable electricity
Flexibility from fuels and
working towards a
transition from coal
Creating flexibility from
existing assets.
Weekly and seasonal flex
Genesis Energy Limited Investor Day November 2018 53.

Beach Energy Limited ABN20 007 617 969
KUPE
Genesis Energy Limited Investor Day November 2018 55.

Beach Energy Limited ABN 20 007 617 969
COMPLIANCE
STATEMENTS
Disclaimer
This presentation contains forward looking statements that are subject to risk factors associated
with oil, gas and related businesses. It is believed that the expectations reflected in these
statements are reasonable but they may be affected by a variety of variables and changes in
underlying assumptions which could cause actual results or trends to differ materially, including,
but not limited to: price fluctuations, actual demand, currency fluctuations, drilling and production
results, reserve estimates, loss of market, industry competition, environmental risks, physical
risks, legislative, fiscal and regulatory developments, economic and financial market conditions in
various countries and regions, political risks, project delays or advancements, approvals and cost
estimates.
Underlying EBITDAX (earnings before interest, tax, depreciation, amortisation, evaluation,
exploration expenses and impairment adjustments), underlying EBITDA (earnings before interest,
tax, depreciation, amortisation, evaluation and impairment adjustments), underlying EBIT
(earnings before interest, tax, and impairment adjustments) and underlying profit are non-IFRS
measures that are presented to provide an understanding of the performance of Beach’s
operations. They have not been subject to audit by Beach’s external auditors but have been
extracted from audited financial statements. Underlying profit excludes the impacts of asset
disposals and impairments, as well as items that are subject to significant variability from one
period to the next. The non-IFRS financial information is unaudited however the numbers have
been extracted from the audited financial statements.
All references to dollars, cents or $ in this presentation are to Australian currency, unless
otherwise stated. References to “Beach” may be references to Beach Energy Limited or its
applicable subsidiaries. Unless otherwise noted, all references to reserves and resources figures
are as at 30 June 2018 and represent Beach’s share.
Certain FY19 planned activities are subject to joint venture approvals. References to planned
activities beyond FY19 are subject to finalisation of work programs, government approvals, joint
venture approvals and board approvals.
Due to rounding, figures and ratios may not reconcile to totals throughout the presentation.
Reserves disclosure
Beach prepares its petroleum reserves and contingent resources estimates in accordance with the
Petroleum Resources Management System (PRMS) published by the Society of Petroleum
Engineers. The reserves and contingent resources presented in this presentation were originally
disclosed to the market in ASX release #034/18 from 2 July 2018. Beach confirms that it is not
aware of any new information or data that materially affects the information included in this
presentation and that all the material assumptions and technical parameters underpinning the
estimates in the aforesaid market announcement continue to apply and have not materially changed.
Conversion factors used to evaluate oil equivalent quantities are sales gas and ethane: 5.816 TJ per
kboe, LPG: 1.389 bbl per boe, condensate: 1.069 bbl per boe and oil: 1 bbl per boe. The reference
point for reserves determination is the custody transfer point for the products. Reserves are stated
net of fuel and third party royalties.
Assumptions
The outlook set out in this presentation is not guidance. The outlook is uncertain and subject to
change. The outlook has been estimated on the basis of the following assumptions: 1. a US$74.25/bbl
Brent oil price in FY19 and a US$70/bbl Brent oil price from FY20; 2. 0.77 AUD/USD exchange rate in
FY19 and 0.75 AUD/USD exchange rate from FY20; 3. various other economic and corporate
assumptions; 4. assumptions regarding drilling results; and 5. expected future development, appraisal
and exploration projects being delivered in accordance with their current expected project schedules.
These future development, appraisal and exploration projects are subject to approvals such as
government approvals, joint venture approvals and board approvals. Beach expresses no view as to
whether all required approvals will be obtained in accordance with current project schedules.
FY19 guidance and 5 year outlook estimates set out in this presentation have been prepared on the
basis that the proposed sale of a 40% interest in its Victorian Otway Basin assets to O.G. Energy
(announced to the ASX on 5
th
October 2018) completes in Q3 FY18. Completion remains subject to
satisfaction of customary conditions, including FIRB approval, some of which are outside of the
control of Beach and as a result the timing of settlement may differ from the assumption used in this
release.
Genesis Energy Limited Investor Day November 2018 56.

Beach Energy Limited ABN 20 007 617 969
BEACH ENERGY PORTFOLIO
EXPANDED FOOTPRINT WITH FIVE PRODUCTION HUBS
AND SIGNIFICANT GAS PROCESSING INFRASTRUCTURE
FY18 Pro forma production
1
FY18 2P reserves
2
Cooper
Basin
Perth Basin
Otway Basin
Taranaki
Basin
Bass Basin
Cooper
Basin
Perth
Basin
Otway
Basin
Taranaki
Basin
Bass
Basin
26.8
MMboe
313
MMboe
1.Pro forma FY18 defined as a Beach FY18 reported production of 19.0 MMboe plus H1 FY18 Lattice production of 7.9 MMboe. H1 FY18 Lattice production was not consolidated within the accounts of Beach. This information is provided for information
purposes only and should not be relied upon.
2.2P reserves are stated as of 30 June 2018. Reserves have not been adjusted for the announced sale of a 40% interest in the OtwayBasin
Genesis Energy Limited Investor Day November 2018 57.

Beach Energy Limited ABN 20 007 617 969
OUR VISION, PURPOSE AND VALUES
Our vision
We aim to be Australia’s premier multi-basin upstream oil and gas company
Our purpose
To deliver sustainable growth in shareholder value
Our values
Our values define us, guide our actions, our decisions and our words
SafetySafety takes precedence in everything we do
CreativityWe continuously explore innovative ways to create value
RespectWe respect each other, our communities and the environment
IntegrityWe are honest with ourselves and others
PerformanceWe strive for excellence and deliver on our promises
TeamworkWe help and challenge each other to achieve our goals
We have delivered on promises since 2016 and intend to continue
Genesis Energy Limited Investor Day November 2018 58.

Beach Energy Limited ABN 20 007 617 969
5 year contribution to Beach
1
NEW ZEALAND –KUPE GAS PROJECT
KEY GROUP CASH FLOW CONTRIBUTOR
•Expected to generate ~10% of Beach’s
free cash flow over the next 5 years
•Key variables to outlook include:
-Customer demand across all
products
-Requirement for a further well
•New Zealand government offshore
exploration policies do not impact this
asset
PRODUCTION
CAPITAL
EXPENDITURE
FREE CASH
FLOW
Kupe
Rest of Beach
1.Estimated cumulative contributions to Beach determined using the assumptions set out on the “Compliance Statements” slide. Any changes to the underlying assumptions could cause reported results to differ materially to the outlook presented.
2.Estimates have been prepared on the basis the proposed sale of a 40% interest in the Victorian Otway assets is completed
Activities to enhance value
•Successful FEED and subsequent
execution of Kupe inlet
compression project
•Continue to progress commercial
negotiations of compression gas
sales
•Optimise LPG production
•Maximise Kupe facility reliability
6-11%
3-8%
7-12%
Genesis Energy Limited Investor Day November 2018 59.

Beach Energy Limited ABN 20 007 617 969
OPERATIONAL EXCELLENCE
DELIVERY OF VALUE THROUGH SAFE, RELIABLE AND EFFICIENT OPERATIONS
People
HSE and
risk
Process and
technology
Performance
Genesis Energy Limited Investor Day November 2018 60.

Beach Energy Limited ABN 20 007 617 969
2P reserves by product
(MMboe)
2P developed / undeveloped
reserves & 2C contingent
resources (MMboe)
NEW ZEALAND –KUPE GAS PROJECT
BEACH 50% AND OPERATOR
22
3
5
GasCondensateLPG
14
16
3
Dev.Undev.Contingent Resource
30
MMboe
Refer to “Reserves disclosure” on slide 2. Due to rounding, figures and ratios may not reconcile to totals throughout the presentation.
•Nameplate capacity of the plant is up to 77
TJ/day with excellent reliability (~ 99%)
•Kupe developed by three wells
•Gas exported via pipeline to North Island
distribution network
•Condensate transported via road and
shipped internationally
•LPG transported via road for local market
•Stable, solid free cash flow generating asset
•Low risk compression development project
to maintain medium term production rates
•Long term GSA with Genesis
•More than 10 years production life
remaining
Genesis Energy Limited Investor Day November 2018 61.

Kupe Gas Project
Settled joint venture focused on enhancing Kupe’s value
Economic interests
aligned
Engagement
Transparency
Discussion
Improved
Collaboration
Phase Two Development
Two distinct projects
Inlet compression
Development well
Genesis Energy Limited Investor Day November 2018 62.

Phase II Development –Inlet Compression Project
Development Study underway and aiming for Final Investment Decision in early FY20
1
Kupe capex guidance estimates are Genesis Energy’s assessment of an incomplete proposal. FY19 Development Study incorporatesFront End Engineering Design
(FEED) to the value of $3 to $4 million. No Development Study (incorporating FEED) has been completed for the Inlet Compressor Project and the joint venture has
not agreed a settled estimate of the timing or cost. No capital estimate beyond FY19 is provided for additional wells as part of phase two expansion
Development Study –incorporates
basis of design, Front End Engineering
Design (FEED) and JV economic model
Genesis to carry out independent
due diligenceprior to Final
Investment Decision (FID)
Final Investment Decision –requires
unanimous support
•Commenced September 2018
•Expected duration is between 9 –12
months
•Driven by Beach (as Operator) with
WorleyParsons providing engineering
services
•Collaborative effort involving all joint
venture parties for duration of project
•Estimated costs in FY19 of up to $4
million
1
•FID expected in early FY20 –July to
September 2019
•Estimated investment / CAPEX of up to
$30 million
1
•Aim is to have Compression Gas GSA(s)
in place to support FID
Genesis Energy Limited Investor Day November 2018 63.

Large and diverse fuel book provides options and opportunities
Kupe ownership adds strength to Genesis fuel book
Genesis
purchases
FY18 NEW ZEALAND
GAS PRODUCTION
Genesis
Coal
purchases
FY18 NEW ZEALAND
NET COAL SUPPLY
Genesis LPG
production
volumes
FY18 NEW ZEALAND
NET LPG SUPPLY
•Diversity of gas supply available
with contracts across New
Zealand’s three largest fields
•Genesis currently contracts for all
Kupe gas
•Kupe provides c. 50% of New
Zealand’s LPG
•Possible value upside in a
tightening reserve market
Genesis Energy Limited Investor Day November 2018 64.

Long-term Gas Contract Position
0
5
10
15
20
25
30
35
40
FY19FY20FY21FY22FY23FY24FY25FY26
PJ
TAKE-OR-PAY FORWARD GAS PURCHASES
1
1
Represents gas contracts under which Genesis is required to take the product
or pay a penalty. Includes Kupe and Producer Price Index adjustments
BENEFITS AND TIMING OF ALTERNATIVE GAS PURCHASE COST
2
$8.00 -
$9.00
$8.00 -
$9.00
$8.00 -
$9.00
$8.50 -
$9.50
$8.50 -
$9.50
$8.50 -
$9.50
$7.50 -
$8.50
2
Assumes approx. 37PJs of gas continues to be procured over the timeframe FY21 to
FY26, at indicative gas market prices ranging from $6/GJ to $7/GJ (in real terms)
$-
$10
$20
$30
$40
$50
$60
$70
$80
$90
FY19FY20FY21FY22FY23FY24FY25FY26
$6/GJ $7/GJ
Genesis Energy Limited Investor Day November 2018 65.

Genesis Sustainability Framework launched FY19
Caring for our
environment
Emissions
Water and Wildlife
2019 on –Reduce and offset our non-generation
carbon emissions
2020 -100% EV / hybrid light fleet by 2020, 50%
EV/hybrid heavy fleet by 2025
Our intention is to phase out coal completely by
2030 (and to use only in abnormal market
conditions after 2025)
Our ambitions include
Building strong
communities
Our Communities
Our People
Living wage in place by 2020
Mobilise Genesis people to volunteer:
2019 onwards
School-gen website used by over 50% of NZ schools
by 2020
Our ambitions include
Putting control in our
customers’ hands
Delivering New Zealand’s
energy future
40% of customers using information and insight via
our digital tools to make active choices about their
day-to-day energy use by 2025
At least 2 new sustainable products for customers
by 2020
Our ambitions include
Powering
New Zealand
200,000 customers actively providing more
information about their homes to access advanced
energy services by 2021
Genesis Energy Limited Investor Day November 2018 67.

Genesis is engaging in a number of public consultations
Policy cohesion is key, underpinned by principles of collaboration and customer-centric approach
KEY OBSERVATIONS / RECOMMENDATIONS
Retail market•Competition is working to deliver choice & innovation
•Strong trend toward more meaningful transparency for
customers around their energy use and choices.
•EnergyIQ is a good example of this.
•More targeted solutions in collaboration with Government
are key to ‘energy hardship’
•Drivers of usage (i.e. quality of housing) must be addressed
to improve affordability for the truly vulnerable
Electricity
industry
•The sector is delivering secure, reliable, and affordable
electricity
•Improved transparency across all segments will drive trust,
confidence and more efficient investment, especially in the
monopoly segments
Transition
to low
emissions
economy
•The electricity sector has a key role to play in further
decarbonising the economy. Its stability is key
•The transition must be well managed to ensure costs are
contained and avoid unintended consequences
Our focus is on making thoughtful contributions to meaningful solutions
Zero Carbon Bill
Low emissions economy
Environment
Committee
Crown Minerals (Petroleum)
Amendment Bill
1
1
Gives effect to the Government's announcement to cease issuing permits for new offshore oil and gas exploration
Genesis Energy Limited Investor Day November 2018 68.

The plan is in place to 2021 and beyond
Driven by retail growth, optimisation and rolling off of legacy contracts
PATHWAY TO FY21
FY21 SENSITIVTIES
1
Retail growth represents gross margin improvements in the Customer segment through volume and value growth.
2
Optimisation represents value creation from reduced operating expenses, enhanced wholesale revenues through
improved plant and fuel efficiency
350
20
10
17
400
370
30
15
27
430
FY19 GuidanceRetail GrowthOptimisationGas Supply
Agreements
roll-off
FY21 Target
MinimumMaximum
21
Churn
Oil Price
LPG Price
Retail Price
GWAP
Extended Wet
Sequence
Extended Dry
Sequence
+/-$2/MWh
change in GWAP
Range of USD$50 to USD$90/bbl
+/-$300/t change
in LPG prices
+/-1% change in
retail prices
+/-1% change in churn
EBITDAF+$5m+$10m+$15m-$15m-$10m-$5m
Perc. change in
hydrosequence
25
th
P.10
th
P.
90
th
P.
75
th
P.
Genesis Energy Limited Investor Day November 2018 69.

Sustained earnings and dividend growth
Underpinned by long dated debt book
308
345
335
333
361
350-370
0
100
200
300
400
FY14FY15FY16FY17FY18FY19f
$ MILLIONS
EBITDAF
AVERAGE FIXED RATE DEBT TENURE
NET DEBT AND NET DEBT/EBITDAF RATIO(S&P BBB+ RATED)
966
905
833
1,212
1,183
2.9
2.5
2.6
3.3
3.0
0.0
1.0
2.0
3.0
4.0
5.0
0
200
400
600
800
1000
1200
FY14FY15FY16FY17FY18
$ MILLIONS
Net debtNet debt/EBITDAFS&P Target Debt Ratio (2.4 - 3.0)
DIVIDEND CENTS PER SHARE & PAYOUT HISTORY
1
13.0
16.0
16.4
16.6
16.9
70%
74%
87%
91%
92%
-20%
30%
80%
130%
0
FY14FY15FY16FY17FY18
Dividends (CPS)% of Free Cash Flow
0%
20%
40%
60%
80%
100%
FY19FY20FY21FY22FY23FY24FY25FY26FY27
% of Debt on Fixed Rate
Average debt
capacity tenure at
11.4 years, with an
average fixed interest
rate of 5.8%
1
DRP supported by 29% of holders and has raised $38m of new capital since February 2018
Target Dividend/
Free Cash Flow
of < 90%
Genesis Energy Limited Investor Day November 2018 70.

FY14FY15FY16FY17FY18FY19f
WholesaleCustomerLPG OperationsKupeTechnology & DigitalCorporate
$ MILLIONS
82
44
40
47
80
< 85
Capital investment
Targeted capital investment underpins an asset portfolio in transition
CategoryDefinitionExamplePriority Criteria
RunStay-in-Business capitalGenerator maintenanceRisk based
GrowCapital that drives business growthLPG distribution expansionIRR threshold exceeded
Transform
At-risk capital with potential to transform
business
Energy monitoring & LPG weigh
scales
Strategic alignment with longer
term return
CAPITAL EXPENDITURE PROFILE
Genesis Energy Limited Investor Day November 2018 71.

How we think about delivering shareholder value
First Choice
for
Energy
Management
Targeted top
quartile TSR
embedded in
Executive LTI
targets
Customer
Shareholder outcome
Management of key
uncertainties
affecting capital
allocation decisions
Exploration of
potential risks and
opportunities
associated with
expansion
Investment in
growth
opportunities
Investment in
Stay-in-Business
“run” projects
Shareholder
distributions
Capital allocation
Short-term
priorities
Disciplined
allocation of
capital based on
IRR thresholds
Risk based
assessment
Growing
dividends in real
terms over time
Reduce debt
Investment in
balance sheet
Genesis Energy Limited Investor Day November 2018 72.