Investor Roadshow Presentation

MARKET RELEASE
Date: 1 July 2019
NZX: GNE / ASX: GNE
GENESIS INVESTOR ROADSHOW PRESENTATION

Genesis Energy CEO Marc England will undertake a series of investor meetings in Edinburgh and
London over the first week of July 2019.

Please see the attached for the relevant presentation material, also available on Genesis’ Investor
Centre web page, https://www.genesisenergy.co.nz/investors.


ENDS

For media enquiries, please contact:
Emma-Kate Greer
Group Manager Corporate Relations
Genesis Energy
M: 027 655 4499

For investor relations enquiries, please contact:
Cameron Parker
Investor Relations Manager
Genesis Energy
P: 09 951 9311
M: 021 241 3150

About Genesis Energy

Genesis Energy (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 customers. The Company generates electricity from a diverse portfolio of
thermal and renewable generation assets located in different parts of the country. Genesis Energy also has a
46% interest in the Kupe Joint Venture, which owns the Kupe Oil and Gas Field offshore of Taranaki, New
Zealand. Genesis Energy had revenue of $NZ2.3bn during the 12 months ended 30 June 2018. More information
can be found at www.genesisenergy.co.nz

---

Marc England –CHIEF EXECUTIVE OFFICER
Edinburgh & London

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 July 2019 2.

345
335
333
361
360-375
1
FY15FY16FY17FY18FY19f
NZ$ MILLIONS
Our investment proposition is a strong yield underpinned by growth
NZX 50 / ASX 100 GNE YIELD COMPARISON
Bloomberg
EBITDAF
Genesis Energy Limited Investor Roadshow July 2019 3.
$-
$0.50
$1.00
$1.50
$2.00
$2.50
$3.00
$3.50
0%
1%
2%
3%
4%
5%
6%
7%
8%
9%
10%
Jul-15
Sep-15
Nov-15
Jan-16
Mar-16
May-16
Jul-16
Sep-16
Nov-16
Jan-17
Mar-17
May-17
Jul-17
Sep-17
Nov-17
Jan-18
Mar-18
May-18
Jul-18
Sep-18
Nov-18
Jan-19
Mar-19
May-19
Mean Yield (LHS)90th Percentile Yield (LHS)75th Percentile Yield (LHS)
25th Percentile Yield (LHS)GNE Yield (LHS)GNE Share Price (NZ$)
1
Genesis updated shareholders on 18 April that it expected an outcome towards the lower end of its FY19
EBITDAF guidance of $360 million to $375 million due to market gas constraints and low hydro storage.

Supplementary dividend for non-resident 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.Free cash flow represents EBITDAF less cash tax paid, net interest costs and stay
in business capital expenditure.
Genesis Energy Limited Investor Roadshow July 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, paid 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) was
offered to shareholders at a 2.5% discount.
•Pay-out ratio as a percentage of free cash flow
2
was 78% for HY19.

About Genesis Energy
—A fully integrated energy management company, Genesis 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
KEY INFORMATION
Revenue (FY18): NZ$2.3 billion
EBITDAF (FY18):NZ$361 million
Dividend Yield (FY18): 6.9%
Share Price*: NZ$3.25
Market Capitalisation*: NZ$3.3 billion
Enterprise Value*: NZ$4.5 billion
90 Day Average Volume Traded: 585,000 shares
Credit Rating: BBB+ (Standard & Poors)
* Calculation as at 18 June 2019.
,
Genesis Energy Limited Investor Roadshow July 2019 6.

Our VISION: to be customers’ first choice for energy management
Our PURPOSE: 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: to maximise value through our market position
Wholesale Market
Maximising value from our Generation & Fuels
Portfolio as we transition to a low carbon future
Retail Market
Engaging customers through loyalty as we innovate
to a data-driven future
We’re performing whiletransforming
Genesis Energy Limited Investor Roadshow July 2019 7.

We’ve invested in a single customer platform
Fuels
Platform
Brands
Genesis Energy Limited Investor Roadshow July 2019 8.

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 engaging customer is driving more 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 July 2019 9.

Diversity of earnings enables consistent and growing returns
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 July 2019 10.

0%
20%
40%
60%
80%
100%
FY19FY20FY21FY22FY23FY24FY25FY26FY27FY28
% of Debt on Fixed Rate
Consistent earnings growth enables a stable growing dividend
Underpinned by long dated debt book
345
335
333
361
360-375
1
0
100
200
300
400
FY15FY16FY17FY18FY19f
$ MILLIONS
EBITDAF
AVERAGE FIXED RATE DEBT TENURENET DEBT AND NET DEBT/EBITDAF RATIO(S&P BBB+ RATED)
DIVIDEND CENTS PER SHARE & PAYOUT HISTORY
2
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%
Target Dividend/
Free Cash Flow
of < 90%
Genesis Energy Limited Investor Roadshow July 2019 11.
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)
1
Genesis updated shareholders on 18 April that it expected an outcome towards the lower end of its FY19
EBITDAF guidance of $360 million to $375 million due to market gas constraints and low hydro storage.
2
DRP supported by 29% of holders and has raised $38m of new capital since February 2018.

Genesis is also enabling a moresustainable 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 July 2019 12.

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 July 2019 14.

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 July 2019 15.

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 July 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 July 2019 17.

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 July 2019 18.

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 July 2019 19.

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 July 2019 20.