Investor Roadshow Presentation – March 2019

Marc England –CHIEF EXECUTIVE OFFICER
Chris Jewell –CHIEF FINANCIAL OFFICER
James Magill –EXECUTIVE GROUP MANAGER CUSTOMER & INNOVATION
Australia: Melbourne, Sydney, Brisbane

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 Roadshow March 2019 2.

345
335
333
361
360-375
FY15FY16FY17FY18FY19f
NZ$ MILLIONS
Our investment proposition is a strong yield underpinned by growth
NZX 50 / ASX 100 YIELD COMPARISON
Bloomberg
EBITDAF
Genesis Energy Limited Investor Roadshow March 2019 3.
$0.00
$0.50
$1.00
$1.50
$2.00
$2.50
$3.00
0%
1%
2%
3%
4%
5%
6%
7%
8%
9%
10%
Jul-15
Sep-15
Nov-15
Jan-16
Mar-16
May-16
Jul-16
Sep-16
Nov-16
Jan-17
Mar-17
May-17
Jul-17
Sep-17
Nov-17
Jan-18
Mar-18
May-18
Jul-18
Sep-18
Nov-18
Jan-19
Mar-19
Mean Yield (LHS)90th Percentile Yield (LHS)75th Percentile Yield (LHS)
25th Percentile Yield (LHS)GNE Yield (LHS)GNE Share Price (NZ$)

Supplementary dividend for Australian investors
16.0
16.4
16.6
16.9
8.45
81%
88%
91%
92%
0%
20%
40%
60%
80%
100%
120%
0
FY15FY16FY17FY181H19
Dividends (CPS)Payout % of FCF
DIVIDEND CENTS PER SHARE (NZ$)& PAYOUT HISTORY
1.HY19 interim dividend of 8.45 cps declared (up 1.8%), with 80% imputation,
representing a 8.6% gross yield
2
.
2.Gross yield is based on the rolling 12 month dividend cps and closing share price
of $2.61 as at 31 December 2018.
3.Free cash flow represents EBITDAF less cash tax paid, net interest costs and stay
in business capital expenditure.
Genesis Energy Limited Investor Roadshow March 2019 4.
Policy is to grow
dividends in real terms
over time.
Target Dividend/
Free Cash Flow
of < 90%.
•HY19 interim dividend
1
of 8.45 cps, 80%
imputed, has a record date of 4 April 2019,
payable to shareholders on 18 April 2019.
•Supplementary dividend of 1.1929 cps
payment to non-resident shareholders,
based on 80% imputation rate.
•Our Dividend Reinvestment Plan (DRP)
continues to be offered at 2.5% discount, with
an opt-in cut off date as at 4 April 2019. DRP
pricing will be notified to shareholders on 10
April 2019.
•Pay-out ratio as a percentage of free cash flow
3
was 78%.

About New Zealand
—Good growth in a stable political and regulatory environment
Source: Economy Rankings 2018 (The World Bank), The Heritage Foundation 2017, Legatum Prosperity Index 2017, Energy Architecture
Performance Index 2017 (World Economic Forum)
Ease of doing
business
st
Investor
Protection
st
billion,
3% growth
GDP
Global Prosperity
Index
Providing
Sustainable,
Secure Energy
th
Economic
Freedom
rd
nd
Genesis Energy Limited Investor Roadshow March 2019 6.

New Zealand’s domestic energy market
—Deregulatedunsubsidised market with an established operating system
1 state owned national
transmission grid operator
1 privately owned gas
transmission network
5major electricity
generators
4 gas fields make up over
80% of gross production
29electricity
lines companies
5gas distributors
4LPG distributors
2melectricity customers
270,000gas customers,
220,000LPG customers
48%residential
customers
Retail
39%small,
medium
enterprises
13%commercial &
industrial customers
Genesis Energy Limited Investor Roadshow March 2019 7.

Core markets stable or growing
Growth is
forecast in
NZ energy
demand
LPG market,
excluding Auto,
grew 3.5% 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
Genesis Energy Limited Investor Roadshow March 2019 8.
2,800
3,000
3,200
3,400
3,600
3,800
4,000
JanFebMarAprMayJunJulAugSepOctNovDec
GRID DEMAND
SHOWING SIGNS OF GROWTH (GWH)
5 year range20182019
EA 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
Sep-18
GAS DEMAND STABLE
4 QUARTER MOVING AVERAGE (PJ)
Consumption Non-energy use Energy transformation
0
20,000
40,000
60,000
80,000
100,000
120,000
140,000
160,000
180,000
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
LPGadata

...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
Transpower data
22
23
24
25
26
27
28
29
30
31
32
201320142015201620172018
RESIDENTIAL ELECTRICITY PRICE (C/KWH)
MBIE data
Genesis Energy Limited Investor Roadshow March 2019 9.
0
50
100
150
200
250
300
350
400
Jul-13
Jan-14
Jul-14
Jan-15
Jul-15
Jan-16
Jul-16
Jan-17
Jul-17
Jan-18
Jul-18
Jan-19
WHOLESALE ELECTRICITY PRICE ($/MWH)
Average over the period
0%
5%
10%
15%
20%
25%
20192020202120222023
NEW ZEALAND WINTER ENERGY MARGIN
FORECAST TO TIGHTEN
0.6-0.7% demand growth1% demand growth
REQUIRED SECURITY MARGIN

...and fuel markets tightening
LPG
market
moving to
net import
International
oil price
volatility
continues
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)
Bloomberg
MBIE data
Woodward
Genesis Energy Limited Investor Roadshow March 2019 10.
-
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
200820092010201120122013201420152016201720182019
NZ LPG IMPORT/EXPORT PARITY PRICING
(NZD/T)
Export parityImport parity
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
Dec-18
BRENT CRUDE (USD/BBL)

800
1000
1200
1400
2015201620172018 estimate
RESIDENTIAL LITHIUM-ION BATTERY STORAGE
COSTS (USD/MWH)
Lazard
Energy transformation is creating opportunities
Desktop search
Mobile search
ENERGY SEARCH VOLUME TREND
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
Genesis Energy Limited Investor Roadshow March 2019 11.
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
EA data
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
Jun-2015
Dec-2015
Jun-2016
Dec-2016
Jun-2017
Dec-2017
Jun-2018
Dec-2018
Jun-2019
Dec-2019
Jun-2020
Dec-2020
Jun-2021
Dec-2021
NEW ZEALAND ELECTRIC VEHICLE FLEET
GROWTH
50% CAGR100% CAGR
NZTA data
$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

Regulatory environment
Meaningful solutions sought, underpinned by principles of collaboration and customer-centric approach
Genesis Energy Limited Investor Roadshow March 2019 12.
ELECTRICITY MARKET ENHANCEMENTS
Update
•EPR Panel presented 41 options, indicating its support for a package
of 30, unsure of 5 and does not support 6 that would require ‘heavy-
handed’ regulation e.g. price caps.
•Focus is on the retail and wholesale sectors with most solutions
targeted at supporting ‘vulnerable customers’, strengthening retail
competition and improving wholesale market transparency.
Key
messages
•Retail competition is working to deliver customer choice and
innovation. Price regulation will undermine the market and disrupt
innovation.
•Customer engagement is growing around energy use and choices
e.g. EnergyIQ.
•More targeted solutions delivered in collaboration with Government
are key to addressing ‘energy hardship’.
•The wholesale market is sufficiently liquid to support competition,
but market making arrangements may need to change to better
manage market volatility.
•Improved transparency across all segments will drive trust,
confidence and more efficient investment, especially in the
monopoly segments.
Next
Steps
•The Panel is due to provide its final report containing recommended
options to Government by the end of May 2019.
TRANSITIONING TO A LOW
EMISSIONS ECONOMY
Update
•A change to the terms of reference for the Interim Climate Change
Committee (ICCC) means it will now report directly to Government.
Its report is due by the end of April 2019.
•Government has said it will respond directly to Productivity
Commission (PC) recommendations.
•The ICCC and PC are two key parts of the Government’s climate
work programme.
Key
messages
•The electricity sector can play a key role in decarbonising the wider
economy, especially transport and industrial heat processes.
•We must remain focused on balancing the energy trilemma of
affordability, sustainability and reliability.
•There is a risk of price shocks for consumers or a disruption to the
secure supply of energy if we pursue a 100% renewable electricity
generation target at all costs.
•Policy cohesion is essential and it is important that there is
coordinated thinking e.g. decisions made about the Emissions
Trading Scheme (ETS) and Zero Carbon Bill (ZCB).
Next
Steps
•Await ICCC advice and Government response to this and PC.
•The ZCB should enter Parliament in May 2019.
•ETS legislative changes to follow –likely to be introduced late 2019.

About Genesis Energy
—Our vision is to be customers’ first choice for energy management
KEY INFORMATION
Revenue (FY18): NZ$2.3 billion
EBITDAF (FY18):NZ$361 million
Dividend Yield (FY18): 6.9%
Share Price: NZ$2.90
Market Capitalisation: NZ$2.9 billion
Enterprise Value (HY19): NZ$4.1 billion
Average Daily Turnover (FY18): 600,000 shares
Credit Rating: BBB+ (Standard & Poors)
Genesis Energy is a large, fully integrated energy
management company. It is New Zealand’s
largest energy retailer, generates electricity from
a diverse portfolio of thermal and renewable
assets located throughout the country, and has
an interest in the Kupe oil and gas field offshore
of Taranaki.
,
Genesis Energy Limited Investor Roadshow March 2019 14.

Why Genesis?
Genesis Energy Limited Investor Roadshow March 2019 15.

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 Roadshow March 2019 16.

,
Genesis Energy Limited 1H FY19 Result Presentation 17.
1H FY19highlights
Genesis Energy Limited 1H FY19 Result Presentation 17.
Generation asset
reliability at record highs,
forced outages at
Energy Management
Connections deployed
NPAT
Net Debt down
Wholesale portfolio delivers
stable earnings in volatile,
resource constrained wholesale
market.
EBITDAF
$
m
$
m
Gross
yield of
Dividends up 1.8% to
cps
.
%
.
$
m
%
Operating
costs down
.
%
Gross churn
1
reduced by
and net
churn by
.
ppt
.
ppt
Electricity netback increased by
.
%
(Business)
.
%
(Residential)
1. Gross churn (new disclosure) is defined as customers who instigated a trader switch or home move, whilst net churn is post home move save and retentions.
Customers purchasing
morethan 1 product
grew by
.
%
Genesis Energy Limited Investor Roadshow March 2019 17.

Outlook and guidance
—Updated guidancefor FY19 EBITDAF is $360 to $375 million
Market Outlook
•2H FY19 –wholesale market remains volatile with ongoing gas outages, drier conditions, uncertainty in the availability
of competitor thermal plant. The FY19 guidance range reflects these conditions.
•Longer term electricity market supply and demand fundamentals continue to improve:
•4
th
potlineat Tiwaihas been reinstated. ASX Year 3 OTA forward curve has lifted $15 to trade at $90/MWh since July 18.
•Uncertainty in longer term gas supply market remains, beyond current outage phase.
FY19 Guidance
•FY19 EBITDAF guidance range is $360 to $375 million subject to hydrological conditions, gas availability, any material
events, one-off expenses or other unforeseeable circumstances.
•FY19 capital expenditure guidance is unchanged at up to $85 million.
FY20 Guidance
•Beach Energy has confirmed a 35 day shutdown of Kupe for cyclical maintenance –FY20 EBITDAF impact of $8 to $10
million.
Genesis Energy Limited Investor Roadshow March 2019 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 Roadshow March 2019 20.

Our purpose is to reimagine energy to put control in our customers’ hands
Fuels
Platform
Brands
Genesis Energy Limited Investor Roadshow March 2019 21.

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 Roadshow March 2019 22.

0%
5%
10%
15%
20%
25%
30%
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
Oct-18
Nov-18
Dec-18
TotalSingle FuelDual Fuel
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
Power
Shout I
Power
Shout II
Energy IQ
Launch
Bottle Gas
Monitoring Launch
Power
Shout III
Electricity
Monitoring Launch
Dual
“Go all in”
Move to the
Future I
Genesis Energy Limited Investor Roadshow March 2019 23.

Our product led strategy
Progress include the launch of energy audits for business customers and passing the 1,000 connections milestone
Genesis Energy Limited Investor Roadshow March 2019 24.
Provide knowledge
Provide energy insights to
customers
Offer advice
Provide tailored actionable
advice
Drive action
Enabling actions that enhance
productivity and achieve comfort,
convenience and control
Knowledge
Advice
Action
Energy
Management
Energy audits launched
1,200 Energy
Management
Connections
1
Electricity
monitoring
Electricity
insights
Bottle gas
monitoring
Bottle gas
monitoring
Half year highlights
1. Energy Management Connection: An IoT device deployed to a home or business with the specific aim of providing a customerwith insights on how to optimise the way they use energy. Electricity Insights,
Bottle Gas Monitoring and Electricity Monitoringare all products that use devices that fall within this definition.

BUSINESS SALES TEAM COVERAGE
FY17
FY19
Electricity & Gas
Electricity, LPG & Gas
Electricity & LPG
BUSINESS NETBACK
Focus on growing business volume
Targeted growth in agriculture and hospitality
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
Genesis Energy Limited Investor Roadshow March 2019 25.

Integrated portfolio provides flexibility
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 Roadshow March 2019 26.

Our emissions are largely hedged through to 2025
We are also investigating longer term hedging options, such as forestry
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
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
Genesis Energy Limited Investor Roadshow March 2019 27.

Enabling a more sustainable future
Caring for our
environment
Building strong
communities
Powering
New Zealand
Genesis signed up
to EV 100,
a global
business
initiative
driving the
switch to EVs.
December2018
We’re driving electric -
now part of
Genesis fleet
Whiopopulation boosted
ducks
released
January 2019
EVs
November 2018
OhopeBeach School joins
School-gen solar
programme
November 2018
Emirates Team
New Zealand &
School-gen
partner to
bring STEM to
schools
December2018
Genesis wins
YWCA Equal
Pay Award
November 2018
February 2019
School-gen Trust launches,
providing
of STEM
funding for schools
$
,
November 2018
Employee volunteering
revitalised
Hours already
given back to
communities
+
Waverley
Wind Farm
partnership
announced
October 2018
MOU signed
with DETA
Consulting for
energy
management
services to
businesses
October 2018
Genesis joins
the NZ Hydrogen
Association,
supporting
development
of low emission
fuel sources
February 2018
Bottles gas for
Business
launched –
usage sensors
minimize waste
October 2018
Genesis Energy Limited Investor Roadshow March 2019 28.

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 Roadshow March 2019 30.

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 Roadshow March 2019 31.

350
20
10
17
400
370
30
15
27
430
FY19 GuidanceRetail GrowthOptimisationGas Supply
Agreements
roll-off
FY21 Target
MinimumMaximum
The plan is in place to FY21 and beyond
Driven by retail growth, optimisation and rolling off of legacy contracts
PATHWAY TO FY21 EBITDAF
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
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 Roadshow March 2019 33.

0%
20%
40%
60%
80%
100%
FY19FY20FY21FY22FY23FY24FY25FY26FY27FY28
% of Debt on Fixed Rate
Sustained earnings and dividend growth
Underpinned by long dated debt book
345
335
333
361
360-375
0
100
200
300
400
FY15FY16FY17FY18FY19f
$ MILLIONS
EBITDAF
AVERAGE FIXED RATE DEBT TENURE
NET DEBT AND NET DEBT/EBITDAF RATIO(S&P BBB+ RATED)
DIVIDEND CENTS PER SHARE & PAYOUT HISTORY
1
16.0
16.4
16.6
16.9
8.45
74%
87%
91%
92%
-20%
30%
80%
130%
0
FY15FY16FY17FY181HY19
Dividends (CPS)% of Free Cash Flow
Average debt
capacity tenure at
12.3years, with an
average fixed interest
rate of 5.7%
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 Roadshow March 2019 34.
905
833
1,212
1,183
1,156
2.5
2.6
3.3
3.0
2.9
0.0
1.0
2.0
3.0
4.0
5.0
0
200
400
600
800
1000
1200
FY15FY16FY17FY18HY19
Net debtNet debt/EBITDAFTarget debt ratio band (2.4 to 3.0)

Balance SheetHY19
($m)
FY18
($m)
Variance
Cash and Cash Equivalents38.049.3
Other Current Assets341.6341.3
Non-Current Assets3,787.93,838.8
Total Assets4,167.54,229.4(1.5%)
Total Borrowings1,223.61,255.4
Other Liabilities995.61,017.6
Total Equity1,948.31,956.4(0.4%)
AdjustedNet Debt1,155.81,182.9(2.2%)
Gearing38.6%39.0%
EBITDAF InterestCover6.3x6.4x
Net Debt/EBITDAF2.9x3.0x
Income StatementHY19
($m)
HY18
($m)
Variance
Revenue1,361.01,213.0+12.2%
Total Operating Expenses(1,165.5)(1,014.6)+14.9%
EBITDAF195.5198.4(1.5%)
Depreciation, Depletion & Amortisation(98.1)(103.5)
Impairment of Non-Current Assets(0.2)-
FairValue Change8.1(19.7)
Other Gains (Losses)-0.9
Earnings Before Interest & Tax105.376.1+38.4%
Interest(36.8)(37.4)
Tax(19.5)(11.1)
Net Profit After Tax49.027.6+77.5%
Earnings Per Share (cps)4.872.76+76.4%
Stay inBusiness Capital Expenditure29.521.6+36.6%
Free Cash Flow110.5129.6(14.7%)
Dividends Per Share (cps)8.458.30+1.8%
Dividends Declared as a % ofFCF77.7%64.0%
Cash Flow SummaryHY19
($m)
HY18
($m)
Variance
($m)
Net Operating Cash Flow171.0198.9
Net Investing Cash Flow(36.7)(30.7)
Net FinancingCash Flow(145.6)(155.4)
Net Increase (Decrease)in Cash(11.3)12.8(24.1)
HY19 Financial statements
1
1. Comparable HY18 financials have been restated in line with note 1 of Genesis’ financial statements, accounting for the adoption of NZ IFRS 9 Financial Instruments and NZ IFRS 15 Revenue from
Contracts with Customers. No other comparable periods have been adjusted.
Genesis Energy Limited Investor Roadshow March 2019 36.

Debt InformationHY19
($m)
FY18
($m)
Variance
Total Debt$
1,223.61,255.4
Cash and Cash Equivalents$
38.0 49.3
Headline Net Debt$
1,185.61,206.1(1.7%)
USPPFX and FV Adjustments$
29.8 23.2
AdjustedNet Debt
1
$
1,155.81,182.9(2.3%)
Headline Gearing
38.6%39.0%-0.4 ppts
AdjustedGearing
38.0%38.6%-0.6 ppts
Covenant Gearing
31.2%32.4%-1.2 ppts
Net Debt/EBITDAF
2
2.9x 3.0x -0.1x
Interest Cover
6.3x 6.4x -0.1x
Average InterestRate
5.8%5.8%-
Average Debt Tenure
12.3 yrs11.4 yrs+ 0.9 yrs
1. Net debt has been adjusted for foreign currency translation and fair value movements
related to USD denominated borrowings which have been fully hedged with cross
currency swaps
2. EBITDAF is based on the midpoint of the guidance range provided for FY19
GENESIS ENERGY DEBT PROFILE
HY19 Debt information
$0
$50
$100
$150
$200
$250
$300
FY
2019
FY
2020
FY
2021
FY
2022
FY
2023
FY
2024
FY
2025
FY
2026
FY
2027
FY
2047
FY
2049
$m
Retailable BondsWholesale DomesticDrawn Bank
Undrawn BankCapital BondsUSPP
Genesis Energy Limited Investor Roadshow March 2019 37.

WholesaleKey InformationHY19HY18Variance
EBITDAF ($ millions)103.8106.4(2.4%)
Renewable Generation (GWh)1,7131,697+0.9%
Thermal Generation (GWh)1,6902,173(22.2%)
Total Generation (GWh)3,4033,870(12.1%)
GWAP ($/MWh)$146.32$96.16+52.2%
LWAP/GWAP Ratio97%103%+6 ppts
Weighted AverageFuel Cost ($/MWh)$33.90$35.72(5.1%)
Coal/GasMix (Rankinesonly)85/1562/38
KupeKey InformationHY19HY18Variance
EBITDAF ($m)52.555.7(5.7%)
Gas Production (PJ)5.76.1(6.6%)
Gas Sales (PJ)5.56.1(9.8%)
Oil Production (kbbl)235281(16.4%)
Oil Sales (kbbl)168241(30.3%)
LPG Production (kt)23.622.4+5.4%
LPG Sales (kt)23.722.7+4.4%
AverageBrent Crude Oil (USD/bbl)$71.52$56.74+26.0%
Realised Oil Price(NZD/bbl)$91.12$78.24+16.5%
HY19 Operational highlights
Customer Key InformationHY19HY18Variance
EBITDAF ($ millions)61.756.1+10.0%
Electricity Netback ($/MWh)$103.98$99.75+4.2%
Gas Netback ($/GJ)$8.73$8.91(2.0%)
LPG Netback ($/t)$810.26$781.86+3.6%
Customers with > 1 Fuel113,549105,758
ElectricityOnly Customers335,332345,832
Gas Only Customers17,44018,509
LPG Only Customers34,77034,534
Total Customers501,091504,633(0.7%)
Total Electricity, Gas and LPG ICP’s674,387667,273+1.1%
VolumeWeighted Average Electricity
Selling Price –Resi($/MWh)
$251.62$248.52+1.2%
VolumeWeighted Average Electricity
Selling Price –SME ($/MWh)
$220.02$216.03+1.8%
VolumeWeighted Average Electricity
Selling Price –C&I ($/MWh)
$126.20$120.45+4.8%
Volume WeightedAverage Gas Selling
Price ($/GJ)
$24.25$25.59(5.2%)
Volume Weighted Average LPG Selling
Price ($/tonne)
$1,764.42$1,828.90(3.5%)
CustomerElectricitySales (GWh)3,1393,008+4.4%
Customer Gas Sales (PJ)4.54.0+12.5%
Customer LPG Sales (tonnes)19,38018,281+6.0%
Health & Safety InformationHY19HY18Variance
Total Recordable Injury Frequency Rate1.111.44(0.33pt)
Genesis Energy Limited Investor Roadshow March 2019 38.