FY20 Q2 Performance Report

MARKET RELEASE
Date: 23 January 2020
NZX: GNE / ASX: GNE
FY20 Q2 PERFORMANCE REPORT AND MARKET UPDATE

Genesis Energy today released to the NZX/ASX its FY20 Q2 Performance Report for the three months
ended 31 December 2019, which includes a market update for the 6-months ended, 31 December
2019. The FY20 Q2 Performance Report is available from the Genesis Energy page at www.nzx.com
or https://www.genesisenergy.co.nz/investors/reports-and-presentations#quarterly.

FY20 Q2 Performance Summary

RETAIL

Genesis’ customer gross churn and net churn declined by 2.9ppt and 2ppt on the prior comparable
period (pcp). Dual fuel customer churn has fallen to 8%. Customers choosing to purchase more than
one fuel continued to increase, up 5,678 on pcp, and total ICP’s remained flat at 674,000. The
continued increase in dual fuel customers is driven from targeted products such as For Dairy and
targeted campaigns and service enabled by our integrated Energy IQ experience and single billing
platform. Total electricity sales volume was up by 2.8% and total LPG sales volume up 16.9% on the
prior year, with total gas sales volume held flat on 1.8 PJ.

WHOLESALE

Gas market constraints continued into the second quarter, driven by declining gas production and
Kupe’s 30-day planned outage. Spot prices remained elevated with the price received for generation
at $108/MWh, albeit down significantly on the prior year following strong South Island inflows in the
later half of the period and a pcp reflecting unprecedented gas and hydro shortages. Elevated gas
prices meant the volume weighted average fuel cost for thermal generation was up 19% on the pcp
to $82/MWh. Looking forward, Genesis’ main hydro catchments will begin the second half of FY20
with 150 GWh more storage than the prior year.

KUPE

Kupe operated at 90% of available capacity over the period, up from 89% on pcp, a quarter that
included successful completion of its planned 30-day maintenance outage for the onshore production
facility. Gas production was down on the pcp at 1.8 PJ, LPG yield remained high at 4.4 t/TJ, whilst oil
yield was down 11% due to the natural decline in the field. Oil sales for Genesis were recorded at
72,000 barrels, down 27% on the pcp, with a realised oil price of NZ$87/bbl, down 14% on the prior
year.

MARKET UPDATE

First half fuel constraints, elevated fuel costs, low inflows and the Kupe outage have all impacted the
Wholesale Segment performance when compared to a record prior year, which will result in first half
EBITDAF being down approximately 15%. However Genesis’ FY20 full year EBITDAF guidance of $360
million to $380 million remains unchanged. Genesis expects a less constrained second half of FY20
with lower fuel costs and a starting hydro storage level 150 GWh above the pcp.

Furthermore, Genesis and other JV partners have approved a project to carry out wellbore logging
and make additional perforations in existing production wells at Kupe, that will result in intermittent
reduction to gas production between 3 and 29 February. The project, if successful, could deliver
additional production of up to 5 PJ in the period before the inlet compression project comes online
in mid-2021. The production uplift will depend on the number of wells perforated, which will be
determined by results from wireline wellbore logging.

“The continued momentum from our Retail Segment is pleasing, however the ongoing fuel constraints
and elevated fuel costs in Wholesale will act to reduce our first half Wholesale Segment result relative
to the prior comparable period,” said Chris Jewell, Chief Financial Officer.

ENDS

For media enquiries, please contact:
Allan Swann
Communications Manager
M: 027 211 4874
For investor relations enquiries, please contact:
Cameron Parker
Investor Relations Manager
M: 021 241 3150

About Genesis Energy
Genesis Energy (NZX: GNE, ASX: GNE) is a diversified New Zealand energy company. Genesis sells
electricity, reticulated natural gas and LPG through its retail brands of Genesis Energy and Energy Online
and is New Zealand’s largest energy retailer with approximately 500,000 customers. The Company
generates electricity from a diverse portfolio of thermal and renewable generation assets located in
different parts of the country. Genesis also has a 46% interest in the Kupe Joint Venture, which owns the
Kupe Oil and Gas Field offshore of Taranaki, New Zealand. Genesis had revenue of $NZ2.7 billion during
the 12 months ended 30 June 2019. More information can be found at www.genesisenergy.co.nz

---

23 January 2020
FY20 Q2
Performance Report
G E N E S I S E N E R G Y L I M I T E D

FY20 Q2 Performance Summary
Genesis’customergrosschurnandnetchurndeclinedby2.9pptand2pptonthepriorcomparable
period(pcp).Dualfuelcustomerchurnhasfallento8%.Customerschoosingtopurchasemore
thanonefuelcontinuedtoincrease,up5,678onpcp,andtotalICP’sremainedflatat674,000.
ThecontinuedincreaseindualfuelcustomersisdrivenfromtargetedproductssuchasForDairy
andtargetedcampaignsandserviceenabledbyourintegratedEnergyIQexperienceandsingle
billingplatform.Totalelectricitysalesvolumewasupby2.8%andtotalLPGsalesvolumeup16.9%
ontheprioryear,withtotalgassalesvolumeheldflaton1.8PJ.
Gasmarketconstraintscontinuedintothesecondquarter,drivenbydeclininggasproductionand
Kupe’s30-dayplannedoutage.Spotpricesremainedelevatedwiththepricereceivedfor
generationat$108/MWh,albeitdownsignificantlyontheprioryearfollowingstrongSouthIsland
inflowsinthelaterhalfoftheperiodandapcpreflectingunprecedentedgasandhydroshortages.
Elevatedgaspricesmeantthevolumeweightedaveragefuelcostforthermalgenerationwasup
19%onthepcpto$82/MWh.Lookingforward,Genesis’mainhydrocatchmentswillbeginthe
secondhalfofFY20with150GWhmorestoragethantheprioryear.
Kupeoperatedat90%ofavailablecapacityovertheperiod,upfrom89%onpcp,aquarterthat
includedsuccessfulcompletionofitsplanned30-daymaintenanceoutagefortheonshore
productionfacility.Gasproductionwasdownonthepcpat1.8PJ,LPGyieldremainedhighat4.4
t/TJ,whilstoilyieldwasdown11%duetothenaturaldeclineinthefield.OilsalesforGenesis
wererecordedat72,000barrels,down27%onthepcp,witharealisedoilpriceofNZ$87/bbl,
down14%ontheprioryear.
The continued
momentum from our
Retail Segment is
pleasing, however the
ongoing fuel
constraints and
elevated fuel costs in
Wholesale will act to
reduce our first half
Wholesale Segment
result relative to the
prior comparable
period.
Chris Jewell, Chief Financial Officer
Retail
Wholesale
Kupe
Wholesale
Kupe
Note: The prior comparable period (pcp) is defined as FY19 Q2, unless an alternative comparison is stated
Genesis Energy Limited FY20 Q2 Performance Report 2.

Netback
Up across all fuels
Electricity + 1.6%
Gas + 11.4%
LPG
2
+ 23.9%
Retail Segment Performance vs Prior Comparable Period
Highs
Lows
Cost to Serve
$139/ICP
Total LPG
Sales
10,353 tonnes
16.9%
Customers > 1 fuel
119k
5.0 %
Interaction
NPS
38.0%
1
Genesis residential customer churn, 3 month rolling average (excluding EOL)
2
LPG netback includes NZ IFRS 16 –Lease adjustment in FY20 of approximately $20/t.
Genesis Gross
Churn
1
26.5%
2.9ppt
Genesis Energy Limited FY20 Q2 Performance Report 3.
3.5%
0%
2%
4%
6%
8%
10%
12%
100,000
102,000
104,000
106,000
108,000
110,000
112,000
114,000
116,000
Jul-18
Aug-18
Sep-18
Oct-18
Nov-18
Dec-18
Jan-19
Feb-19
Mar-19
Apr-19
May-19
Jun-19
Jul-19
Aug-19
Sep-19
Oct-19
Nov-19
Dec-19
RESIDENTIAL DUAL FUEL CUSTOMER NUMBERS & CHURN (3-MONTH ROLLING AVG %)
Customers > 1 FuelDual Fuel Churn (RHS)
Brand Net
Promoter Score
15.6%
1.4 ppt
2.0 ppt
Genesis Net
Churn
1
15.7%
2.0ppt
Volume Weighted
Electricity Price
SME
$223/MWh
1.5 %

Wholesale Segment Performance vs Prior Comparable Period
Average Price
Received for
Generation
$108/MWh
Gas-fired
Generation
599GWh
Highs
Lows
52.0%
49.3%
Average Thermal
Fuel Cost
$82/MWh
18.9%
Average Portfolio
Fuel Cost
$46/MWh
20.1%
Genesis Energy Limited FY20 Q2 Performance Report 4.
Generation
Emissions
564 ktCO2
18.1%
0
50
100
150
200
250
300
Jan-19
Feb-19
Mar-19
Apr-19
May-19
Jun-19
Jul-19
Aug-19
Sep-19
Oct-19
Nov-19
Dec-19
HUNTLY RANKINE UTILISATION (GWh)
Genesis Customers/Portfolio
Backup Swaption Partners
Backup Other Retailers/Spot Customers
Hydro Generation
693 GWh
2.5%
Recertification of Huntly Unit 2
commenced, available February 2020
250 MW

Kupe Segment Performance vs Prior Comparable Period
LPG Production
Yield
4.4 t/TJ
External
Sales
GNE 46% Kupe share
66kbbl Oil8.0 kt LPG
1.8PJ Gas
Fuels Portfolio
Electricity Generation
Wholesale Customers
Retail Customers
1,455 GWh Electricity
3.8 PJ Gas
1.8PJ Gas
0.9kt LPG
10.4 kt LPG
1,603GWh Electricity
10.2 PJ Gas
3.5 PJ Coal
0 GJ Diesel
693 GWh Hydro
7 GWh Wind
903 GWh Thermal
72 kbbl Oil
10.7 kt LPG
2.5 kt LPG
External
Purchases
8.4PJ Gas
1.9PJ Coal
5.2 kt LPG
0 PJ Coal
12.8%
GENESIS ENERGY FY20 Q2 INTEGRATED PHYSICAL ENERGY FLOWS
1
Highs
Lows
1
LPG/Oil/Coal difference represents movement in stock
Oil Production
Down to 66 kbbl due to
planned 30-day outage
37.7 %
Gas Production
Down to 1.8 PJ due to
planned 30-dayoutage
30.8 %
Genesis Energy Limited FY20 Q2 Performance Report 5.
Successful
completion of Kupe’s
planned 30-day
outage, no significant
issues, excellent
safety performance

Glossary
Genesis Energy Limited FY20 Q2 Performance Report 6.
CUSTOMER
Brand Net Promoter Score (%)Based on survey question "How likely would you be to recommend Genesis Energy/Energy Online to your friends or family?"
Interaction Net Promoter Score (%)Based on survey question "Based on your recent Interaction With GE/EOL, how likely would you be to recommend GE/EOL to your Friends/Family?"
CustomersElectricity and gas customers are defined by single customer view, regardless of number of connections (ICP's)
Single Customer ViewRepresents unique customers which may have multiple ICP's
ICPInstallation Connection Point, a connection point that is both occupied and has not been disconnected (Active-Occupied)
LPG Customer ConnectionsDefined as number of customers
Gross Customer ChurnDefined as customers instigating a trader switch or home move
Net Customer ChurnDefined as Gross Churn post home move saves, retention and acquisition activity
Resi, SME, C&IResidential, small and medium enterprises and commercial & industrial customers
B2BBusiness to Business, including both SME and C&I
Volume Weighted Average Electricity Selling Price - $/MWhAverage selling price for customers including lines/transmission and distribution and after prompt payment discount
Volume Weighted Average Gas Selling Price - $/GJAverage selling price for customers including transmission and distribution and after prompt payment discount
Volume Weighted Average LPG Selling Price - $/tonneAverage selling price for customers including after prompt payment discount
Bottled LPG Sales (tonnes)Represents 45kg LPG bottle sales
SME & Other Bulk LPG sales (tonnes)Represents SME and other bulk and 3rd party distributors
Cost to Serve ($ per ICP)Retail costs associated with serving customers across all fuel types divided by the total numbers of ICPs at time of reporting
Netback ($/MWh, $/GJ, $/tonne)
Customer EBITDAF by fuel type plus respective fuel purchase cost divided by total fuel sales volumes, stated in native fuel units (excluding corporate allocation costs and
Technology & Digital cost centre)
GENERATION
Average Price Received for Generation - GWAP ($/MWh) Excludes settlements from electricity derivatives.
Coal (GWh)Coal generation is calculated by applying coal burn to monthly average heat rates
Coal Used In Internal Generation (PJ)Results have been revised to reflect changes in coal kilo tonnes to PJ conversion rate and volume methodology
Rankine's Fuelled by Coal (%)The proportion of coal used in the Rankine units
Equipment Availability Factor (EAF)The percentage of time a power station is available to generate electricity
Forced Outage Factor (FOF)The percentage of time a power station is unavailable to generate electricity due to unplanned failure or defect
WHOLESALE
Average Retail Electricity Purchase Price - LWAP ($/MWh)Excludes settlements from electricity derivatives
Electricity CFD Purchases - Wholesale (GWh)Settlement volumes of generation hedge purchase contracts, including ASX but excluding Financial Transmission Right (FTRs) or Cap/Collar/Floor contracts
Electricity CFD Sales - Wholesale (GWh)Settlement volumes of generation hedge sale contracts, including ASX but exlcuding Financial Transmission Right (FTRs) or Cap/Collar/Floor contracts
Swaption Sales - Wholesale (GWh)Electricity (swap/option) sales contract volume called, a subset of the Electricity CFD Sales - Wholesale (GWh)
Wholesale LPG Sales (tonnes)Represents wholesale, export sales and transfers to Huntly power station
Weighted Average Gas Burn Cost ($/GJ)Total cost of gas burnt divided by generation from gas fired generation, excluding emissions
Weighted Average Coal Burn Cost ($/GJ)Total cost of coal burnt divided by generation from coal fired generation, excluding emissions
Weighted Average Fuel Cost - Portfolio ($/MWh)Total cost of fuel burnt plus emissions on fuel burnt divided by total generation (thermal, hydro and wind)
Weighted Average Fuel Cost - Thermal ($/MWh)Total cost of fuel burnt plus emissions on fuel burnt divided by total generation from thermal plant
Coal Stockpile - Stored Energy (PJ)The coal stockpile closing balance in tonnes divided by an estimated nominal energy content of Huntly's coal (22 GJ/t)
CORPORATE
Total Recordable Injury Frequency RateRolling 12 month TRIFR per 200,000 hours worked for employees and contractors
Headcount Based on full time equivalents, including contractors
KUPE
Oil Price realised (NZD/bbl)Oil price received including hedge outcome for oil and foreign exchange
Oil Price realised (USD/bbl)The underlying benchmark crude oil price that is used to set the price for crude oil sales
Oil Hedge Levels (%)% hedged for remainder of FY as % of forecast sales

Retail Operating Metrics
Genesis Energy Limited FY20 Q2 Performance Report 7.
Note: Genesis’ FY20 Segment Note Update has resulted in minor adjustments to product revenue lines, this resulting in both VWAP and Netbacks by fuel type restated from Q1 FY19 on Genesis’ Investor Centre.
1
VWAP C&I ($/MWh) is partially influenced by C&I contract exposure to the wholesale market spot price.
RETAIL SEGMENT
Q2 FY20
Q2 FY19
% Change
Var.
YTD FY20
YTD FY19
% Change
Var.
RETAIL
Brand Net Promoter Score - Genesis (%)
15.6%


17.0%


(8.2%)


(1.4)ppt
Interaction Net Promoter Score - Genesis (%)
38.0%


36.0%


5.6%


2ppt
Gross Customer Churn (3 month rolling average, %)
26.5%


29.4%


(9.9%)


(2.9)ppt
Net Customer Churn (3 month rolling average, %)
15.7%


17.7%


(11.3%)


(2)ppt
Cost to Serve ($ per ICP)
$139
$144
(3.5%)
($5)
Electricity Netback ($/MWh)
$101.39
$99.80
1.6%
$1.59
$108.20
$103.98
4.1%
$4.22
Gas Netback ($/GJ)
$9.8
$8.8
11.4%
$1.0
$9.6
$8.7
10.3%
$0.9
LPG Netback ($/t)
$960
$775
23.9%
$185
$983
$834
17.9%
$149
CUSTOMER NUMBERS
Customers > 1 Fuel
119,227


113,549


5.0%
5,678


Electricity Only Customers
320,731


335,332


(4.4%)
(14,601)


Gas Only Customers
16,022


17,440


(8.1%)
(1,418)


LPG Only Customers
33,969


34,770


(2.3%)
(801)


Total Customers
489,949


501,091


(2.2%)
(11,142)


Electricity ICPs Active-Occupied
497,435


501,684


(0.8%)
(4,249)


Gas ICPs Active-Occupied
105,572


106,854


(1.2%)
(1,282)


LPG Customer Connections
71,349


65,849


8.4%
5,500


Total ICPs
674,356


674,387


0.0%
(31)


VOLUMES AND PRICE
Volume Weighted Average Electricity Selling Price - Resi ($/MWh)
$264.97
$258.55
2.5%
$6.42
$258.40
$253.42
2.0%
$4.98
Volume Weighted Average Electricity Selling Price - SME ($/MWh)
$223.29
$226.71
(1.5%)
($3.42)
$219.78
$221.43
(0.7%)
($1.65)
Volume Weighted Average Electricity Selling Price - C&I ($/MWh)
$116.03
$121.18
(4.2%)
($5.15)
$134.06
$127.55
5.1%
$6.51
Residential Electricity Sales (GWh)
661


659


0.3%
2


1,600


1,619


(1.2%)
(19)


SME Electricity Sales (GWh)
287


266


7.9%
21


577


540


6.9%
37


C&I Electricity Sales (GWh)
507


489


3.7%
18


995


980


1.5%
15


Total Electricity Sales - Customer (GWh)
1,455


1,415


2.8%
40


3,172


3,139


1.1%
33


Volume Weighted Average Gas Selling Price - Resi ($/GJ)
$36.3
$34.3
5.8%
$2.0
$30.4
$28.5
6.7%
$1.9
Volume Weighted Average Gas Selling Price - SME ($/GJ)
$16.3
$16.8
(3.0%)
($0.5)
$15.2
$15.4
(1.3%)
($0.2)
Volume Weighted Average Gas Selling Price - C&I ($/GJ)
$11.1
$10.9
1.8%
$0.2
$10.7
$10.5
1.9%
$0.2
Residential Gas Sales (PJ)
0.6


0.6


0.0%
-


1.6


1.7


(5.9%)
(0.1)


SME Gas Sales (PJ)
0.4


0.4


0.0%
-


1.0


0.9


11.1%
0.1


C&I Gas Sales (PJ)
0.8


0.9


(11.1%)
(0.1)


1.9


1.9


0.0%
-


Total Gas Sales (PJ)
1.8


1.8


0.0%
-


4.5


4.5


0.0%
-


Volume Weighted Average LPG Selling Price - Resi ($/tonne)
$2,337
$2,140
9.2%
$197
$2,295
$2,087
10.0%
$208
Volume Weighted Average LPG Selling Price - SME/Bulk ($/tonne)
$1,421
$1,491
(4.7%)
($70)
$1,436
$1,512
(5.0%)
($76)
Bottled LPG Sales (tonnes)
3,949


3,656


8.0%
293


9,511


8,473


12.3%
1,038


SME & Other Bulk LPG sales (tonnes)
6,404


5,202


23.1%
1,202


13,964


10,907


28.0%
3,057


Total LPG Sales Volumes (tonnes)
10,353


8,858


16.9%
1,495


23,475


19,380


21.1%
4,095


1

Wholesale Operating Metrics
Genesis Energy Limited FY20 Q2 Performance Report 8.
WHOLESALE SEGMENTQ2 FY20Q2 FY19% ChangeVar.YTD FY20YTD FY19% ChangeVar.
GENERATION
Gas (GWh)599 394 52.0% 205 1,324 1,079 22.7%245
Coal (GWh)304 509 (40.3%) (205) 665 603 10.3%62
Total Thermal (GWh)903 903 - - 1,989 1,682 18.3%307
Hydro (GWh)693 711 (2.5%) (18) 1,452 1,702 (14.7%)(250)
Wind (GWh)7 5 40.0%2 13 11 18.2%2
Total Renewable (GWh)700 716 (2.2%) (16) 1,465 1,713 (14.5%)(248)
Total Generation (GWh)1,603 1,619 (1.0%) (16) 3,454 3,395 1.7%59
Average Price Received for Generation - GWAP ($/MWh) $108.22$213.30(49.3%)($105.08)$117.00$146.68(20.2%)($29.68)
Generation Emissions (ktCO2)564 689 (18.1%) (125) 1,247 1,083 15.1%164
Generation Carbon Intensity (tCO2/GWh)352 426 (17.4%) (74) 361 319 13.2%42
Forced Outage Factor (FOF)0.9% 0.2% 350.0% 0.7% 0.6% 0.2% 200.0% 0.4%
Equivalent Availability Factor (EAF)86.7% 85.3% 1.6% 1.4%90.7% 91.5% (0.9%)(0.8%)
Rankine Output (GWh)324 598 (45.8%) (274) 698 716 (2.5%)(18)
Rankines Fueled by Coal (%)94% 85% 10.6% 9% 95% 85% 12% 10%
WHOLESALE
Electricity Purchases - Retail (GWh)1,536 1,471 4.4%65 3,358 3,302 1.7%56
Average Retail Electricity Purchase Price - LWAP ($/MWh) $104.19$210.36(50.5%)($106.17)$115.67$142.56(18.9%)($26.89)
LWAP/GWAP Ratio (%)96% 99% (3.0%) (3.0%) 99% 97% 2.1% 2.0%
Gas Purchases (PJ)10.2 8.7 17.2%1.5 22.5 19.9 13.1%2.6
Coal Purchases (PJ)3.2 5.3 (39.6%) (2.1) 5.1 6.6 (22.7%)(1.5)
Electricity CFD Purchases - Wholesale (GWh)458 548 (16.4%) (90) 937 1,161 (19.3%)(224)
Electricity CFD Sales - Wholesale (GWh)482 581 (17.0%) (99) 935 1,106 (15.5%)(171)
Swaption Sales - Wholesale (GWh)20 123 (83.7%) (103) 70 123 (43.1%)(53)
Wholesale Gas Sales (PJ)3.8 3.6 5.6% 0.2 7.9 6.8 16.2%1.1
Wholesale Coal Sales (kilotonnes)- 1.1 (100.0%) (1.1)- 5.1 (100.0%)(5.1)
Wholesale LPG Sales (tonnes)908 1,256 (27.7%) (348) 1,200 3,206 (62.6%)(2,006)
Gas Used In Internal Generation (PJ)4.6 3.4 35.3% 1.210.1 8.6 17.4%1.5
Weighted Average Gas Burn Cost ($/GJ)$9.82$8.4416.4% $1.38$9.50$8.3314.0%$1.17
Coal Used In Internal Generation (PJ) 3.5 5.7 (38.6%) (2.2) 7.6 6.9 10.1%0.7
Weighted Average Coal Burn Cost ($/GJ)$7.00$5.9118.4% $1.09$7.07$5.8620.6%$1.21
Weighted Average Fuel Cost - Portfolio ($/MWh)$45.99$38.3020.1% $7.69$46.95$33.9938.1%$12.96
Weighted Average Fuel Cost - Thermal ($/MWh)$81.63$68.6518.9% $12.98$81.52$68.6018.8%$12.92
Coal Stockpile - Closing Balance (kilotonnes)374 277 35.0% 97
Coal Stockpile - Stored Energy (PJ)8.2 6.1 34.4% 2.1

Kupe and Other Operating Metrics
Genesis Energy Limited FY20 Q2 Performance Report 9.
KUPE SEGMENT
Q2 FY20
Q2 FY19
% Change
Var.
YTD FY20
YTD FY19
% Change
Var.
KUPE
Gas Production (PJ)
1.8


2.6


(30.8%)
(0.8)


4.9


5.7


(14.0%)
(0.8)


Gas Sales (PJ)
1.8


2.5


(28.0%)
(0.7)


4.9


5.5


(10.9%)
(0.6)


Oil Production (kbbl)
66


106


(37.7%)
(40)


177


235


(24.7%)
(58)


Oil Production Yield (bbl/TJ)
36.1


40.4


(10.6%)
(4.3)


36.1


41.5


(13.0%)
(5.4)


Oil Sales (kbbl)
72


98


(26.5%)
(26)


138


168


(17.9%)
(30)


Realised Oil Price (NZD/bbl)
$86.81
$100.38
(13.5%)
($13.57)
$85.14
$91.12
(6.6%)
($5.98)
Average Brent Crude Oil (USD/bbl)
$63.25
$67.76
(6.7%)
($4.51)
$62.60
$71.52
(12.5%)
($8.92)
LPG Production (kt)
8.0


10.1


(20.8%)
(2.1)


21.4


23.6


(9.3%)
(2.2)


LPG Production Yield (t/TJ)
4.4


3.9


12.8%
0.5


4.4


4.2


4.8%
0.2


LPG Sales (kt)
8.0


10.3


(22.3%)
(2.3)


21.9


23.7


(7.6%)
(1.8)


OTHER
Q2 FY20
Q2 FY19
% Change
Var.
YTD FY20
YTD FY19
% Change
Var.
CORPORATE
Headcount (FTE)
1,080


1,058


2.1%
22


Total Recordable Injury Frequency Rate
1.23


1.13


8.8%
0.10

Appendix: Retail Segment
Genesis Energy Limited FY20 Q2 Performance Report 10.
-
100
200
300
400
500
600
700
800
$120
$130
$140
$150
$160
$170
Q1 FY17
Q2Q3Q4
Q1 FY18
Q2Q3Q4
Q1 FY19
Q2Q3Q4
Q1 FY20
Q2
ICP Count
Thousands
Cost to Serve ($/ICP)
ICP NUMBER & COST TO SERVE ($/ICP)
Electricity ICPs Active-OccupiedGas ICPs Active-Occupied
LPG Customer ConnectionsCost to Serve ($ per ICP)
-
1,000
2,000
3,000
4,000
5,000
6,000
7,000
-
200
400
600
800
1,000
1,200
Q1 FY16
Q2Q3Q4
Q1 FY17
Q2Q3Q4
Q1 FY18
Q2Q3Q4
Q1 FY19
Q2Q3Q4
Q1 FY20
Q2
ELECTRICITY SALES VOLUMES (GWh)
Quarterly Resi Sales VolumesQuarterly SME Sales Volumes
Quarterly C&I Sales VolumesRolling 12-month Sales Volume (RHS)
6.0
6.5
7.0
7.5
8.0
8.5
0.0
0.2
0.4
0.6
0.8
1.0
1.2
1.4
Q1 FY16
Q2Q3Q4
Q1 FY17
Q2Q3Q4
Q1 FY18
Q2Q3Q4
Q1 FY19
Q2Q3Q4
Q1 FY20
Q2
GAS SALES VOLUME (PJ)
Quarterly Resi Sales VolumesQuarterly SME Sales Volumes
Quarterly C&I Sales VolumesRolling 12-month Sales Volume (RHS)
-
10,000
20,000
30,000
40,000
50,000
-
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
Q1 FY16
Q2Q3Q4
Q1 FY17
Q2Q3Q4
Q1 FY18
Q2Q3Q4
Q1 FY19
Q2Q3Q4
Q1 FY20
Q2
LPG SALES VOLUMES (Tonnes)
Quarterly Bottled LPG Sales Volumes
Quarterly Bulk & SME LPG Sales Volume
Rolling 12-month Sales Volume (RHS)

Appendix: Wholesale Segment
Genesis Energy Limited FY20 Q2 Performance Report 11.
0
1000
2000
3000
4000
5000
JanFebMarAprMayJunJulAugSepOctNovDec
NEW ZEALAND DAILY STORAGE (ALL GENERATORS, GWh)
Long Run Average Storage12-month Storage
0
200
400
600
800
1000
JanFebMarAprMayJunJulAugSepOctNovDec
TEKAPO STORAGE Vs LONG RUN AVERAGE (GWh)
Long Run Average Storage12-month Storage
0
20
40
60
80
100
120
140
JanFebMarAprMayJunJulAugSepOctNovDec
WAIKAREMOANA STORAGE Vs LONG RUN AVERAGE (GWh)
Long Run Average Storage12-month Storage
$0
$50
$100
$150
$200
2016201720182019
ASX FUTURES SPOT PRICING ($/MWh)
1-Year Contract2-Year Contract3-Year Contract

Appendix: Wholesale Segment
Genesis Energy Limited FY20 Q2 Performance Report 12.
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
20%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
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
Jul-19
Sep-19
Nov-19
Forced Outage Factor (FOF) %
Equipment Availability Factor (EAF) %
PLANT PERFORMANCE
Monthly EAFMonthly FOF
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
Q2 2020Q2 2019Q2 YTD 2020Q2 YTD 2019
GENERATION BY POWER STATION (GWh)
Hau Nui Wind Farm
Tekapo A and B power stations
Waikaremoana Power Scheme
Tongariro Power Scheme
Huntly Unit 6
Huntly Unit 5
Huntly Units 1 to 4 Gas
Huntly Units 1 to 4 Coal
0%
20%
40%
60%
80%
100%
$0
$20
$40
$60
$80
$100
Q1 FY16
Q2Q3Q4
Q1 FY17
Q2Q3Q4
Q1 FY18
Q2Q3Q4
Q1 FY19
Q2Q3Q4
Q1 FY20
Q2
PORTFOLIO AND THERMAL FUEL COSTS
Weighted Average Fuel Cost - Thermal ($/MWh)
Weighted Average Fuel Cost - Portfolio ($/MWh)
Renewable Contribution to Total Generation (RHS, %)

Appendix: Kupe Segment
OIL PRICE AND FOREX RISK MANAGEMENT
Genesis Energy Limited FY20 Q2 Performance Report 13.
$30
$40
$50
$60
$70
$80
$90
JanFebMarAprMayJunJulAugSepOctNovDec
BRENT CRUDE OIL SPOT PRICE (USD/bbl)
12 mths to Dec 1812 mths to Dec 19
FORWARD RISK MANAGEMENT
Oil Price Hedges% HedgedAverage Oil Price
1-12 months77%$57.50
13-24 months50%$62.80
25-36 months9%$56.90
USD/NZD HedgesRate
1-12 months76%0.688
13-24 months67%0.675
25-36 months31%0.648
-
2.0
4.0
6.0
8.0
10.0
12.0
14.0
-
0.5
1.0
1.5
2.0
2.5
3.0
3.5
Q1 FY16
Q2Q3Q4
Q1 FY17
Q2Q3Q4
Q1 FY18
Q2Q3Q4
Q1 FY19
Q2Q3Q4
Q1 FY20
Q2
KUPE GAS SALE VOLUMES (GENESIS SHARE, PJ)
Quarterly Sales VolumeRolling 12 Months Sales Volume (RHS)
-
100.
200.
300.
400.
500.
600.
-
20.
40.
60.
80.
100.
120.
140.
160.
Q1 FY16
Q2Q3Q4
Q1 FY17
Q2Q3Q4
Q1 FY18
Q2Q3Q4
Q1 FY19
Q2Q3Q4
Q1 FY20
Q2
KUPE OIL PRODUCTION VOLUMES (GENESIS SHARE, Kbbl)
Quarterly Production VolumeRolling 12 Months Sales Volume (RHS)