FY20 Q4 Performance Report

MARKET RELEASE
Date: 28 July 2020
NZX: GNE / ASX: GNE
FY20 Q4 PERFORMANCE REPORT

Genesis Energy today released to the NZX/ASX its FY20 Q4 Performance Report for the three months
ended 30 June 2020. The FY20 Q4 Performance Report is available from the Genesis Energy page at
www.nzx.com or https://www.genesisenergy.co.nz/investors.

“Genesis’ flexible assets and fuel portfolio has ensured security of supply during a period of very low
North Island inflows.” said Shaun Goldsbury, Executive General Manager Wholesale Markets.

RETAIL

To help customers through the tough lockdown period Genesis focused on its vulnerable care
program to support those suffering financial hardship, expanding school-gen for kids at home and
rewarding customers with our largest Powershout ever totalling 2.1m hours of free power. Genesis
remained accessible to customers during lockdown with a customer iNPS satisfaction rating of +58.
Total gross churn and net churn decreased by 8.1 ppt and 3.3 ppt respectively whilst brand net
promoter score increased to 22.5%, up 3.5 ppt on the prior comparable period (pcp). Covid-19
restrictions negatively impacted business sales volumes, with SME electricity down by 11.2%, gas
down by 40.0% and bulk LPG down by 17.6%. This was partially off-set by an increase in residential
demand of 2.2% in electricity and 1.3% in LPG.

WHOLESALE

Genesis’ flexible generation portfolio adapted quickly to April’s $46/MWh wholesale market, as
demand fell away during lockdown, however generation volumes rebounded strongly as demand
increased in May and June, and wholesale prices firmed to $124/MWh and $160/MWh respectively.
Total generation was up 4.3% to 1,717 GWh for the period, however hydro generation was down to
450 GWh, down 28.5% due to very low North Island inflows and maintenance works at Tekapo
constraining production. Genesis’ weighted average thermal fuel cost was $72/MWh, down 6.8% on
the pcp, due to lower average gas prices and falling weighted average coal costs. Plant reliability was
high throughout the quarter, Equivalent Availability Factor at 90.8%, and Tekapo maintenance
continued through lockdown resulting in the 190 MW scheme back at full capacity to finish FY20.

KUPE

Successful completion of perforation work in two wells in February meant Kupe was able to operate
at its maximum capacity of 77 TJ/day for the majority of the quarter, offsetting the natural decline in
the reservoir. It is estimated that the well perforations will provide a production uplift of
approximately 1.4 PJ of gas before the inlet compression project comes online in mid-2021. Gas
production for the period was 2.9 PJ, down 6.5% on the pcp, due partly to lower demand relating to
April’s lockdown. Oil yield for the period was 33 bbl/TJ, down 12.5%, and the LPG yield remained
close to maximum, at 4.3 t/TJ.


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

---

28 July 2020
FY20 Q4
Performance Report
G E N E S I S E N E R G Y L I M I T E D

FY20 Q4 Performance Summary
TohelpcustomersthroughthetoughlockdownperiodGenesisfocusedonitsvulnerablecare
programtosupportthosesufferingfinancialhardship,expandingschool-genforkidsathomeand
rewardingcustomerswithourlargestPowershoutevertotalling2.1mhoursoffreepower.Genesis
remainedaccessibletocustomersduringlockdownwithacustomeriNPSsatisfactionratingof+58.
Totalgrosschurnandnetchurndecreasedby8.1pptand3.3pptrespectivelywhilstbrandnet
promoterscoreincreasedto22.5%,up3.5pptonthepriorcomparableperiod(pcp).Covid-19
restrictionsnegativelyimpactedbusinesssalesvolumes,withSMEelectricitydownby11.2%,gas
downby40.0%andbulkLPGdownby17.6%.Thiswaspartiallyoff-setbyanincreasein
residentialdemandof2.2%inelectricityand1.3%inLPG.
Genesis’flexiblegenerationportfolioadaptedquicklytoApril’s$46/MWhwholesalemarket,as
demandfellawayduringlockdown,howevergenerationvolumesreboundedstronglyasdemand
increasedinMayandJune,andwholesalepricesfirmedto$124/MWhand$160/MWh
respectively.Totalgenerationwasup4.3%to1,717GWhfortheperiod,howeverhydrogeneration
wasdownto450GWh,down28.5%duetoverylowNorthIslandinflowsandmaintenanceworksat
Tekapoconstrainingproduction.Genesis’weightedaveragethermalfuelcostwas$72/MWh,down
6.8%onthepcp,duetoloweraveragegaspricesandfallingweightedaveragecoalcosts.Plant
reliabilitywashighthroughoutthequarter,EquivalentAvailabilityFactorat90.8%,andTekapo
maintenancecontinuedthroughlockdownresultinginthe190MWschemebackatfullcapacityto
finishFY20.
SuccessfulcompletionofperforationworkintwowellsinFebruarymeantKupewasableto
operateatitsmaximumcapacityof77TJ/dayforthemajorityofthequarter,offsettingthenatural
declineinthereservoir.Itisestimatedthatthewellperforationswillprovideaproductionupliftof
approximately1.4PJofgasbeforetheinletcompressionprojectcomesonlineinmid-2021.Gas
productionfortheperiodwas2.9PJ,down6.5%onthepcp,duepartlytolowerdemandrelating
toApril’slockdown.Oilyieldfortheperiodwas33bbl/TJ,down12.5%,andtheLPGyield
remainedclosetomaximum,at4.3t/TJ.
Genesis’ flexible
assets and fuel
portfolio has
ensured security
of supply during
a period of very
low North Island
inflows.
Shaun Goldsbury, EGM
Wholesale Markets
Retail
Wholesale
Wholesale
Kupe
Note: The prior comparable period (pcp) is defined as FY19 Q4, unless an alternative comparison is stated
Genesis Energy Limited FY20 Q4 Performance Report 2.

0%
2%
4%
6%
8%
10%
12%
14%
111,500
112,000
112,500
113,000
113,500
114,000
114,500
115,000
115,500
116,000
116,500
Jul-19
Aug-19
Sep-19
Oct-19
Nov-19
Dec-19
Jan-20
Feb-20
Mar-20
Apr-20
May-20
Jun-20
RESIDENTIAL DUAL FUEL CUSTOMER NUMBERS & CHURN (3-MONTH ROLLING AVERAGE %)
Customers > 1 FuelDual Fuel Churn (RHS)
Level 4 & 3 Lockdown
Netbacks
Electricity + 10.8%
Gas + 15.2%
Retail Segment Performance vs Prior Comparable Period
Highs
Lows
Cost to Serve
$138/ICP
BulkLPG Sales
5,428 tonnes
2
Customers
> 1 fuel
121k
3.3%
Brand Net
Promoter Score
22.5%
2
1
Genesis residential customer churn, 3 month rolling average (excluding EOL).
2
Covid-19 lockdown levels 4 & 3, period of late March to mid-May, influenced customer demand and churn behaviour.
3
LPG netback was affected by Genesis’ decision to use alternative bulk transport arrangements whilst it fully addressed
learnings from an ISO leak at Pictonin January 2020. The transportation of ISO’s by rail and ferry has since recommenced
with the full support of key parties.
Genesis Gross
Churn
1
18.8%
2
8.1ppt
Genesis Energy Limited FY20 Q4 Performance Report 3.
1.4%
17.6%
3.5 ppt
Genesis Net
Churn
1
12.1%
2
3.3 ppt
Volume Weighted
Electricity Price SME
$212/MWh
6.1 %
LPG Netback
3
$809/t
16.1%
B2BGas Sales
1.2PJ
2
25.0%
Residential
Electricity Sales
830 GWh
2
2.2 %

Wholesale Segment Performance vs Prior Comparable Period
Average Price Received
for Generation
$133/MWh
Highs
Lows
14.5%
Average Thermal
Fuel Cost
$72/MWh
4.3%
Genesis Energy Limited FY20 Q4 Performance Report 4.
Generation Emissions
702 ktCO2
11.3 ppt
Hydro Generation
450 GWh
28.5%
Plant
Availability
(EAF)
90.8%
19.2%
6.8%
Total Generation
1,717 GWh
0
50
100
150
200
250
300
Jul-19
Aug-19
Sep-19
Oct-19
Nov-19
Dec-19
Jan-20
Feb-20
Mar-20
Apr-20
May-20
Jun-20
HUNTLY RANKINE UTILISATION (GWh)
Genesis Customers/Portfolio Backup Swaption Partners Backup Other Retailers/Spot Customers
Level 4
Lockdown
1
1
Level 4 lockdown equated to an approximate 8-10% decrease in total electricity demand for Genesis’
portfolio however rebounded quickly following the easing of lockdown restrictions and the onset of
winter demand, inclusive of swaption calls as South Island hydro storage levels began to fall.

Kupe Segment Performance vs Prior Comparable Period
External
Sales
GNE 46% Kupe share
97 kbbl Oil12.7 ktLPG
2.9 PJ Gas
Fuels Portfolio
Electricity Generation
Wholesale Customers
Retail Customers
1,603 GWh Electricity
3.0 PJ Gas
2.0PJ Gas
2.9 kt LPG
10.0 kt LPG
1,717GWh Electricity
12.9 PJ Gas
3.4 PJ Coal
0 GJ Diesel
450GWh Hydro
5GWh Wind
1,263GWh Thermal
72 kbbl Oil
13.2 LPG
1.2 kt LPG
External
Purchases
10 PJ Gas
3.4 PJ Coal
1.7ktLPG
0 PJ Coal
GENESIS ENERGY FY20 Q4 INTEGRATED PHYSICAL ENERGY FLOWS
1
Highs
Lows
1
LPG/Oil/Coal difference represents movement in stock
Oil Production
97 kbbl
17.1%
Gas Production
2.9 PJ
1
6.5%
Genesis Energy Limited FY20 Q4 Performance Report 5.
Realised Oil Price
NZ$74.5
16.2%
Estimated uplift
delivered by a
successful
perforation project
1.4 PJ
1
Gas production in April was partly impacted by lower demand due to the downstream impacts of Covid-19 lockdown restrictions.

Glossary
Genesis Energy Limited FY20 Q4 Performance Report 6.
RETAIL
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

1
Genesis’ FY20 Segment Note Update has resulted in minor adjustments to product revenue lines, this resulting in both VWAP andNetbacks by fuel type restated from Q1 FY19 on Genesis’ Investor Centre.
2.
VWAP C&I ($/MWh) is partially influenced by C&I contract exposure to the wholesale market spot price.
Retail Operating Metrics
Genesis Energy Limited FY20 Q4 Performance Report 7.
1
RETAIL SEGMENTQ4 FY20Q4 FY19
% ChangeVar.
YTD FY20YTD FY19
% ChangeVar.
Q1 FY20Q2 FY20Q3 FY20Q4 FY20
RETAIL
Brand Net Promoter Score - Genesis (%)22.5% 19.0% 18.4% 3.5ppt14.0% 15.6% 18.0% 22.5%
Interaction Net Promoter Score - Genesis (%)39.3% 42.7% (8.0%) (3.4)ppt40.7% 38.0% 42.3% 39.3%
Gross Customer Churn (3 month rolling average, %)18.8%26.9% (30.1%) (8.1)ppt26.8%26.5%24.6%18.8%
Net Customer Churn (3 month rolling average, %)12.1% 15.4% (21.4%) (3.3)ppt15.9% 15.9% 15.2% 12.1%
Cost to Serve ($ per ICP)$138$140(1.4%)($2)$141$139$138$138
Electricity Netback ($/MWh)$122.30$110.3610.8%$11.94$111.90$104.936.6%$6.97$113.96$101.39$108.54$122.30
Gas Netback ($/GJ)$10.6$9.215.2%$1.4$10.0$9.19.9%$0.9$9.4$9.8$10.6$10.6
LPG Netback ($/t)$809$964(16.1%)($155)$947$86110.0%$86$1,001$960$1,009$809
CUSTOMER NUMBERS
Customers > 1 Fuel121,110 117,191 3.3%3,919 118,991 119,227 119,852 121,110
Electricity Only Customers314,120 328,415 (4.4%)(14,295) 326,149 320,731 316,825 314,120
Gas Only Customers15,888 16,549 (4.0%)(661) 16,150 16,022 15,976 15,888
LPG Only Customers33,569 34,181 (1.8%)(612) 34,196 33,969 33,685 33,569
Total Customers484,687 496,336 (2.3%)(11,649) 495,486 489,949 486,338 484,687
Electricity ICPs Active-Occupied493,218 499,476 (1.3%)(6,258) 501,993 497,435 494,248 493,218
Gas ICPs Active-Occupied104,944 107,114 (2.0%)(2,170) 106,443 105,572 105,031 104,944
LPG Customer Connections73,357 68,466 7.1%4,891 70,385 71,349 72,164 73,357
Total ICPs671,519 675,056 (0.5%)(3,537) 678,821 674,356 671,443 671,519
VOLUMES AND PRICE
Volume Weighted Average Electricity Selling Price - Resi ($/MWh)$263.74$257.602.4%$6.14$263.17$257.682.1%$5.49$253.78$264.97$275.37$263.74
Volume Weighted Average Electricity Selling Price - SME ($/MWh)$212.25$226.10(6.1%)($13.85)$217.62$222.27(2.1%)($4.65)$216.31$223.29$217.60$212.25
Volume Weighted Average Electricity Selling Price - C&I ($/MWh)$150.72$141.186.8%$9.54$138.02$130.345.9%$7.68$152.81$116.03$133.13$150.72
Residential Electricity Sales (GWh)830 812 2.2%18 3,017 3,012 0.2%5 940 661 587 830
SME Electricity Sales (GWh)231 260 (11.2%)(29) 1,093 1,064 2.7%29 290 287 285 231
C&I Electricity Sales (GWh)541 485 11.5%56 2,134 1,991 7.2%143 488 507 598 541
Total Electricity Sales - Customer (GWh)1,603 1,557 3.0%46 6,244 6,067 2.9%177 1,717 1,455 1,469 1,603
Volume Weighted Average Gas Selling Price - Resi ($/GJ)$32.8$31.25.1%$1.6$33.7$32.24.7%$1.5$27.2$36.3$51.4$32.8
Volume Weighted Average Gas Selling Price - SME ($/GJ)$17.3$15.511.6%$1.8$16.1$16.00.6%$0.1$14.5$16.3$17.6$17.3
Volume Weighted Average Gas Selling Price - C&I ($/GJ)$10.8$10.52.9%$0.3$10.8$10.61.9%$0.2$10.4$11.1$10.9$10.8
Residential Gas Sales (PJ)0.7 0.7 0.0%- 2.7 2.7 0.0%- 1.0 0.6 0.3 0.7
SME Gas Sales (PJ)0.3 0.5 (40.0%)(0.2) 1.6 1.7 (5.9%)(0.1) 0.6 0.4 0.3 0.3
C&I Gas Sales (PJ)0.9 1.1 (18.2%)(0.2) 3.5 3.8 (7.9%)(0.3) 1.1 0.8 0.8 0.9
Total Gas Sales (PJ)2.0 2.3 (13.0%)(0.3) 7.8 8.2 (4.9%)(0.4) 2.7 1.8 1.4 2.0
Volume Weighted Average LPG Selling Price - Resi ($/tonne)$2,194$2,235(1.8%)($41)$2,367$2,2107.1%$157$2,266$2,337$2,819$2,194
Volume Weighted Average LPG Selling Price - SME/Bulk ($/tonne)$1,461$1,501(2.7%)($40)$1,453$1,483(2.0%)($30)$1,449$1,421$1,489$1,461
Bottled LPG Sales (tonnes)4,541 4,483 1.3%58 17,302 15,308 13.0%1,994 5,562 3,949 3,250 4,541
SME & Other Bulk LPG sales (tonnes)5,428 6,584 (17.6%)(1,156) 25,045 23,200 8.0%1,845 7,560 6,404 5,653 5,428
Total LPG Sales Volumes (tonnes)9,969 11,067 (9.9%)(1,098) 42,347 38,507 10.0%3,840 13,122 10,353 8,903 9,969

WHOLESALE SEGMENTQ4 FY20Q4 FY19% ChangeVar.YTD FY20YTD FY19% ChangeVar.Q1 FY20Q2 FY20Q3 FY20Q4 FY20
GENERATION
Gas (GWh)988 696 42.0% 292 3,122 2,583 20.9%539 725 599 809 988
Coal (GWh)275 316 (13.0%) (41) 1,339 1,404 (4.6%)(65) 361 304 400 275
Total Thermal (GWh)1,263 1,012 24.8% 251 4,461 3,987 11.9%474 1,086 903 1,209 1,263
Hydro (GWh)450 629 (28.5%) (179) 2,321 2,812 (17.5%)(491) 759 693 419 450
Wind (GWh)5 5 0.0%- 23 22 4.5%1 6 7 5 5
Total Renewable (GWh)455 634 (28.2%) (179) 2,344 2,834 (17.3%)(490) 765 700 425 455
Total Generation (GWh)1,717 1,646 4.3% 71 6,805 6,821 (0.2%)(16) 1,851 1,603 1,633 1,717
Average Price Received for Generation - GWAP ($/MWh) $133.17$116.3214.5%$16.85$113.88$143.42(20.6%)($29.54)$124.59$108.22$87.01$133.17
Generation Emissions (ktCO2)702 589 19.2% 113 2,694 2,491 8.1%203 683 565 744 702
Generation Carbon Intensity (tCO2/GWh)409 358 14.2% 51 396 365 8.5%31 369 352 455 409
Forced Outage Factor (FOF)0.5% 0.6% (16.7%) (0.1)ppt0.5% 0.3% 66.7% 0.2ppt0.3% 0.9% 0.3% 0.5%
Equivalent Availability Factor (EAF)90.8% 79.5% 14.2% 11.3ppt91.0% 84.7% 7.4%6.3ppt94.6% 86.7% 91.8% 90.8%
Rankine Output (GWh)441 343 28.6% 98 1,635 1,599 2.3%36 374 324 496 441
Rankines Fueled by Coal (%)63% 92% (31.5%) (29)ppt82% 88% (7%) (6)ppt97% 94% 80% 63%
WHOLESALE
Electricity Purchases - Retail (GWh)1,691 1,653 2.3%38 6,602 6,395 3.2%207 1,822 1,537 1,552 1,691
Average Retail Electricity Purchase Price - LWAP ($/MWh) $124.93$111.0812.5%$13.85$109.46$139.01(21.3%)($29.55)$125.35$104.10$79.27$124.93
LWAP/GWAP Ratio (%)94% 95% (1.1%) (1)ppt96% 97% (1.0%) (1)ppt101% 96% 91% 94%
Gas Purchases (PJ)12.9 11.4 13.2%1.5 46.5 42.7 8.9%3.8 12.3 10.2 11.1 12.9
Coal Purchases (PJ)3.4 7.2 (52.8%) (3.8) 13.7 19.3 (29.0%)(5.6) 1.9 3.2 5.1 3.4
Electricity CFD Purchases - Wholesale (GWh)356 644 (44.7%) (288) 1,653 2,255 (26.7%)(602) 479 458 361 356
Electricity CFD Sales - Wholesale (GWh)508 613 (17.1%) (105) 2,008 2,475 (18.9%)(467) 453 482 565 508
Swaption Sales - Wholesale (GWh)71 30 136.7% 41 153 342 (55.3%)(189)
Wholesale Gas Sales (PJ)3.0 3.4 (11.8%) (0.4) 14.1 14.1 0.0%- 4.1 3.8 3.2 3.0
Wholesale Coal Sales (kilotonnes)- - -- - 5.1 (100.0%)(5.1)- - - -
Wholesale LPG Sales (tonnes)2,879 1,315 118.9% 1,564 5,360 6,936 (22.7%)(1,576) 291 908 1,282 2,879
Gas Used In Internal Generation (PJ)8.0 5.7 40.4% 2.324.6 20.2 21.8%4.45.5 4.6 6.5 8.0
Weighted Average Gas Burn Cost ($/GJ)$8.5$8.7(2.3%) ($0.20)$9.0$8.73.4%$0.30$9.1$9.7$9.2$8.5
Coal Used In Internal Generation (PJ) 3.1 3.3 (6.1%) (0.2) 15.2 15.9 (4.4%)(0.7) 4.2 3.5 4.5 3.1
Weighted Average Coal Burn Cost ($/GJ)$6.3$6.9(8.7%) ($0.60)$6.8$6.46.2%$0.40$7.1$7.1$6.6$6.3
Weighted Average Fuel Cost - Portfolio ($/MWh)$52.74$47.3411.4% $5.40$51.69$43.1519.8%$8.54$47.79$44.97$61.59$52.74
Weighted Average Fuel Cost - Thermal ($/MWh)$71.72$76.99(6.8%) ($5.27)$78.85$73.826.8%$5.03$81.44$79.83$83.23$71.72
Coal Stockpile - Closing Balance (kilotonnes)423 489 (13.5%) (66) 386 374 402 423
Coal Stockpile - Stored Energy (PJ)9.3 10.8 (13.9%) (1.5) 8.5 8.2 8.8 9.3
Wholesale Operating Metrics
Genesis Energy Limited FY20 Q4 Performance Report 8.
1
Weighted Average Gas Burn Cost has been restated for all historical quarters in FY19 and FY20 to align with the updated segment note, relating to gas transmission allocations.
1

Kupe and Other Operating Metrics
Genesis Energy Limited FY20 Q4 Performance Report 9.
KUPE SEGMENT
Q4 FY20
Q4 FY19
% Change
Var.
YTD FY20
YTD FY19
% Change
Var.
Q1 FY20
Q2 FY20
Q3 FY20
Q4 FY20
KUPE
Gas Production (PJ)
2.9


3.1


(6.5%)
(0.2)


10.7


11.8


(9.3%)
(1.1)


3.1


1.8


2.9


2.9


Gas Sales (PJ)
2.9


2.9


0.0%
-


10.7


11.4


(6.1%)
(0.7)


3.0


1.8


2.9


2.9


Oil Production (kbbl)
97


117


(17.1%)
(20)


375


473


(20.7%)
(98)


111


66


101


97


Oil Production Yield (bbl/TJ)
33.0


37.7


(12.5%)
(4.7)


35.0


40.0


(12.5%)
(5.0)


36.2


36.1


35.3


33.0


Oil Sales (kbbl)
72


170


(57.6%)
(98)


366


441


(17.0%)
(75)


66


72


156


72


Realised Oil Price (NZD/bbl)
$74.46
$88.86
(16.2%)
($14.40)
$76.06
$87.97
(13.5%)
($11.91)
$83.34
$86.81
$68.72
$74.46
Average Brent Crude Oil (USD/bbl)
$29.17
$68.83
(57.6%)
($39.66)
$51.16
$68.77
(25.6%)
($17.61)
$61.94
$63.25
$50.26
$29.17
LPG Production (kt)
12.7


13.6


(6.6%)
(0.9)


46.6


50.6


(7.9%)
(4.0)


13.4


8.0


12.5


12.7


LPG Production Yield (t/TJ)
4.3


4.4


(2.3%)
(0.1)


4.4


4.3


2.3%
0.1


4.4


4.4


4.4


4.3


LPG Sales (kt)
12.7


13.8


(8.0%)
(1.1)


46.8


50.7


(7.7%)
(3.9)


13.9


8.0


12.2


12.7


OTHER
Q4 FY20
Q4 FY19
% Change
Var.
YTD FY20
YTD FY19
% Change
Var.
Q1 FY20
Q2 FY20
Q3 FY20
Q4 FY20
CORPORATE
Headcount (FTE)
1,076


1,075


0.1%
1


1,094


1,080


1,066


1,076


Total Recordable Injury Frequency Rate
1.43


1.42


0.7%
0.01


1.18


1.23


1.04


1.43

Appendix: Retail Segment
Genesis Energy Limited FY20 Q4 Performance Report 10.
-
100
200
300
400
500
600
700
800
$0
$20
$40
$60
$80
$100
$120
$140
$160
$180
Q1 FY17
Q2Q3Q4
Q1 FY18
Q2Q3Q4
Q1 FY19
Q2Q3Q4
Q1 FY20
Q2Q3Q4
ICP Count
Thousands
Cost to Serve ($/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
Q2Q3Q4
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
Q2Q3Q4
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
Q2Q3Q4
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 Q4 Performance Report 11.
0
20
40
60
80
100
120
140
JulAugSepOctNovDecJanFebMarAprMayJun
WAIKAREMOANA STORAGE Vs LONG RUN AVERAGE (GWh)
Long Run Average Storage12-month Storage
0
1000
2000
3000
4000
5000
JulAugSepOctNovDecJanFebMarAprMayJun
NEW ZEALAND DAILY STORAGE (ALL GENERATORS, GWh)
Long Run Average Storage12-month Storage
0
200
400
600
800
1000
JulAugSepOctNovDecJanFebMarAprMayJun
TEKAPO STORAGE Vs LONG RUN AVERAGE (GWh)
Long Run Average Storage12-month Storage
$50
$70
$90
$110
$130
$150
$170
$190
$210
201720182019
ASX FUTURES SPOT PRICING ($/MWh)
1-Year Contract2-Year Contract3-Year Contract

Appendix: Wholesale Segment
Genesis Energy Limited FY20 Q4 Performance Report 12.
0%
20%
40%
60%
80%
100%
$0
$20
$40
$60
$80
$100
Q1 FY16
Q2Q3Q4
Q1 FY17
Q2Q3Q4
Q1 FY18
Q2Q3Q4
Q1 FY19
Q2Q3Q4
Q1 FY20
Q2Q3Q4
PORTFOLIO AND THERMAL FUEL COSTS
Weighted Average Fuel Cost - Thermal ($/MWh)
Weighted Average Fuel Cost - Portfolio ($/MWh)
Renewable Contribution to Total Generation (RHS, %)
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
20%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
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
Jan-20
Feb-20
Mar-20
Apr-20
May-20
Jun-20
Forced Outage Factor (FOF) %
Equipment Availability Factor (EAF) %
PLANT PERFORMANCE
Monthly EAFMonthly FOF
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
Q4 2020Q4 2019Q4 YTD 2020Q4 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
58
47
102102
109
104
62
95
104
111
81
111
48
42
121
118
72
50
54
52
56
87
153
112
105
93
74
37
28
50
69
105
151
168
131
148
119
101
77
54
37
34
69
88
79
87
51
12
26
28
15
11
31
53
22
30
18
14
15
14
20
28
28
21
18
26
0%
40%
80%
120%
160%
0
50
100
150
200
250
300
350
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
Jan-20
Feb-20
Mar-20
Apr-20
May-20
Jun-20
% of average
GWh
HYDRO INFLOWS, GENERATION & STORAGE
Hydro Storage (TEK+WKM) (RHS)Tekapo Generation (GWh)
Tongariro Generation (GWh)Waikaremoana Generation (GWh)
Quarterly Hydro Inflows (WKM+TEK) % of average (RHS)

Appendix: Kupe Segment
OIL PRICE AND FOREX RISK MANAGEMENT
Genesis Energy Limited FY20 Q4 Performance Report 13.
-
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
Q2Q3Q4
PJ
PJ
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
Q2Q3Q4
KUPE OIL PRODUCTION VOLUMES (GENESIS SHARE, Kbbl)
Quarterly Production VolumeRolling 12 Months Production Volume (RHS)
$0
$10
$20
$30
$40
$50
$60
$70
$80
$90
JulAugSepOctNovDecJanFebMarAprMayJun
BRENT CRUDE OIL SPOT PRICE (USD/bbl)
12 mths to Jun1912 mths to Jun 20
FORWARD RISK MANAGEMENT
Oil Price Hedges (USD/bbl)% HedgedAverage Oil Price
1-12 months60%$61.90
13-24 months43%$56.10
25-36 months0%$0.00
USD/NZD HedgesRate
1-12 months79%0.674
13-24 months68%0.665
25-36 months35%0.638