FY21 Q1 Performance Report

MARKET RELEASE
Date: 21 October 2020

NZX: GNE / ASX: GNE
FY21 Q1 PERFORMANCE REPORT

Genesis Energy today released to the NZX/ASX its FY21 Q1 Performance Report for the three months
ended 30 September 2020. The FY21 Q1 Performance Report is available from the Genesis Energy
page at www.nzx.com or https://www.genesisenergy.co.nz/investors
.

“ Our Retail segment continues to perform well particularly in LPG. New Zealand’s declining lake levels
during the quarter required the back-up of our thermal fleet” said Chris Jewell, Chief Financial Officer.

RETAIL

The Retail segment performed strongly in the first quarter with total electricity sales volumes up
3.4% on pcp, bottled LPG sales volumes up 5.3% on pcp and netbacks up materially across all fuels.
This was despite SME sales volumes declining 6.6% due to the Auckland lockdown. Customers with
more than one fuel increased 3.5% on pcp and 1.7% on the prior quarter reflecting the ongoing
Genesis dual-fuel strategy. However, total net churn increased 1.3ppt on the pcp, as retailers
aggressively re-entered the acquisition market following the recent lockdowns. Brand net promoter
score returned to normal levels after a short term increase during the first lockdown period. Cost to
serve declined a further 2.2% on the previous quarter and 4.3% on pcp – noting this was partly due
to cost deferrals due to the lockdown period.


WHOLESALE

Declining lake levels across New Zealand catchments through the quarter and continued gas
production constraints required Genesis’ flexible thermal back-up generation to support New
Zealand’s electricity requirements. New Zealand hydro storage fell to 58% of average before a
recovery in September which resulted in Genesis back-up thermal generation being up 20% on pcp.
The unit cost of thermal fuels declined 3% as had been anticipated. Genesis hydro generation was
flat on pcp but lower inflows meant storage ended the quarter below average at Waikaremoana.
Plant availability in the quarter was strong with EAF of 98%.


KUPE

Production at Kupe began to decline during Q1 FY 21, due to a decline in field pressure that is in-line
with previous guidance and expectations of field performance. It is expected that a single well will
need to be taken offline in November and re-instated in Q4 FY21 to manage production in line with
seasonal demand. This will result in a reduction in production of between 6.5 and 9.0 TJ/day.


ENDS

For media enquiries, please contact:
Allan Swann
Communications Manager
M: 027 211 4874
For investor relations enquiries, please contact:
Tim McSweeney
Investor Relations Manager
M: 027 200 5548



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 $NZ2.6 billion during
the 12 months ended 30 June 2020. More information can be found at www.genesisenergy.co.nz

---

21 October 2020
FY21 Q1
Performance Report
GENESIS ENERGY LIMITED

FY21 Q1 Performance Summary
The Retail segment performed strongly in the first quarter with total electricity sales volumes up
3.4% on pcp, bottled LPG sales volumes up 5.3% on pcpand netbacks up materially across all fuels.
This was despite SME sales volumes declining 6.6% due to the Auckland lockdown. Customers with
more than one fuel increased 3.5% on pcpand 1.7% on the prior quarter reflecting the ongoing
Genesis dual-fuel strategy. However, total net churn increased 1.3ppt on the pcp, as retailers
aggressively re-entered the acquisition market following the recent lockdowns. Brand net
promoter score returned to normal levels after a short term increase during the first lockdown
period. Cost to serve declined a further 2.2% on the previous quarter and 4.3% on pcp– noting
this was partly due to cost deferrals due to the lockdown period.
Declining lake levels across New Zealand catchments through the quarter and continued gas
production constraints required Genesis’ flexible thermal back-up generation to support New
Zealand’s electricity requirements. New Zealand hydro storage fell to 58% of average before a
recovery in September which resulted in Genesis back-up thermal generation being up 20% on pcp.
The unit cost of thermal fuels declined 3% as had been anticipated. Genesis hydro generation was
flat on pcpbut lower inflows meant storage ended the quarter below average at Waikaremoana.
Plant availability in the quarter was strong with EAF of 98%.
Production at Kupe began to decline during Q1 FY 21, due to a decline in field pressure that is in-
line with previous guidance and expectations of field performance. It is expected that a single well
will need to be taken offline in November and re-instated in Q4 FY21 to manage production in line
with seasonal demand. This will result in a reduction in production of between 6.5 and 9.0 TJ/d ay.
Our Retail segment
continues to
perform well
particularly in LPG.
NZ’s declining lake
levels during the
quarter required
the back-up of our
thermal fleet
.
Chris Jewell,
Chief Financial Officer
Retail
Wholesale
Wholesale
Kupe
Genesis Energy Limited FY21 Q1 Performance Report 2.
1
pcp refers to FY20 Q1 unless otherwise stated.

C&I Sales
Volumes vs. pcp
Electricity + 17%
Gas + 9.1%
Retail Segment Performance vs FY20 Q4
Highs
Lows
Total Customers
482k
Bottle LPG
Sales vs. pcp
5,858t
5.3%
Customers > 1
Fuel
123k
Cost to Serve
$135/ICP
2.2%
Genesis Energy Limited FY21 Q1 Performance Report 3.
0.6%
1.7%
C&I Electricity
Sale Price
$159.22/MWh
5.6%
Brand Net
Promoter Score
13.7%
8.8ppt
Net Customer
Churn vs. pcp
17.2%
1.3ppt
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
14.0%
112,000
113,000
114,000
115,000
116,000
117,000
118,000
119,000
Oct-19
Nov-19
Dec-19
Jan-20
Feb-20
Mar-20
Apr-20
May-20
Jun-20
Jul-20
Aug-20
Sep-20
RESIDENTIAL DUAL FUEL CUSTOMER NUMBERS & CHURN (3-MONTH ROLLING AVERAGE
%)
Customers > 1 ProductDual Fuel Churn (RHS)
Residential
LPG Sale
Price
$2,373/t
8.2%

Wholesale Segment Performance vs Prior Comparable Period
Highs
Lows
Average Thermal
Fuel Cost
$78.95/MWh
13%
Genesis Energy Limited FY21 Q1 Performance Report 4.
Generation Emissions
956 ktCO2
Increased thermal backup required to support
low lake levels across New Zealand.
14%
Retail LWAP
$140.21/MWh
12%
Average Coal
Burn Cost
$6.10/GJ
40%
3.1%
Total Generation
2,091 GWh
Rankine
Generation
585 GWh
56%
9.9%
GWAP
$136.96/MWh
0
50
100
150
200
250
300
Oct-19
Nov-19
Dec-19
Jan-20
Feb-20
Mar-20
Apr-20
May-20
Jun-20
Jul-20
Aug-20
Sep-20
HUNTLY RANKINE UTILISATION (GWh)
Genesis Customers/Portfolio Backup Swaption Partners Backup Other Retailers/Spot Customers

Kupe Segment Performance vs Prior Comparable Period
Highs
Lows
Oil Production
96 kbbl
12%
Genesis Energy Limited FY21 Q1 Performance Report 5.
Realised Oil Price
NZ$73.74
12%
Highest Quarterly
Gas Sales Since Q1
FY20
Firming global oil
prices

Glossary
Genesis Energy Limited FY21 Q1 Performance Report 6.
RETAIL
Brand Net Promoter Score (%)
Bas ed on s urvey ques tion "How likely would you be to recommend Genes is Energy/Energy Online to your friends or family?"
Interaction Net Promoter Score (%)Bas ed on s urvey ques tion "Bas ed on your recent Interaction With GE/EOL, how likely would you be to recommend GE/EOL to your Friends /Family?"
C us tomers
Electricity and gas cus tomers are defined by s ingle cus tomer view, regardles s of number of connections (ICP's )
Single Customer View
Repres ents unique cus tomers which may have multiple ICP's
ICPIns tallation Connection Point, a connection point that is both occupied and has not been dis connected (Active-Occupied)
LPG Cus tomer ConnectionsDefined as number of cus tomers
Gros s Cus tomer ChurnDefined as customers instigating a trader switch or home move
Net Cus tomer Churn
Defined as Gros s Churn pos t home move s aves , retention and acquis ition activity
Resi, SME, C&I
Residential, small and medium enterprises and commercial & industrial customers
B2BBus ines s to Bus ines s , including both SME and C&I
Volume Weighted Average Electricity Selling Price - $/MWhAverage s elling price for cus tomers including lines /trans mis s ion and dis tribution and after prompt payment dis count
Volume Weighted Average Gas Selling Price - $/GJAverage s elling price for cus tomers including trans mis s ion and dis tribution and after prompt payment dis count
Volume Weighted Average LPG Selling Price - $/tonneAverage s elling price for cus tomers including after prompt payment dis count
Bottled LPG Sales (tonnes )Represents 45kg LPG bottle sales
SME & Other Bulk LPG s ales (tonnes )Repres ents SME and other bulk and 3rd party dis tributors
Cos t to Serve ($ 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, $/tonne)
Cus tomer EBITDAF by fuel type plus res pective fuel purchas e cos t divided by total fuel s ales volumes , s tated in native fuel units (excluding corporate allocation cos ts and
Technology & Digital cost centre)
GENERATION
Average Price Received for Generation - GWAP ($/MWh)
Excludes settlements from electricity derivatives.
Coal (GWh)Coal generation is calculated by applying coal burn to monthly average heat rates
Coal Us ed In Internal Generation (PJ)Res ults have been revis ed to reflect changes in coal kilo tonnes to PJ convers ion rate and volume methodology
Rankine's Fuelled by Coal (%)The proportion of coal us ed 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 ($/MWh)Excludes settlements from electricity derivatives
Electricity CFD Purchases - Wholesale (GWh)Settlement volumes of generation hedge purchas e contracts , including ASX but excluding Financial Trans mis s ion Right (FTRs ) or Cap/Collar/Floor contracts
Electricity CFD Sales - Wholesale (GWh)
Settlement volumes of generation hedge sale contracts, including ASX but exlcuding Financial Transmission Right (FTRs) or Cap/Collar/Floor contracts
Swaption Sales - Wholesale (GWh)Electricity (swap/option) sales contract volume called, a subset of the Electricity CFD Sales - Wholesale (GWh)
Wholesale LPG Sales (tonnes)Repres ents wholes ale, export s ales and trans fers to Huntly power s tation
Weighted Average Gas Burn Cos t ($/GJ)
Total cos t of gas burnt divided by generation from gas fired generation, excluding emis s ions
Weighted Average Coal Burn Cos t ($/GJ)Total cost of coal burnt divided by generation from coal fired generation, excluding emissions
Weighted Average Fuel Cost - Portfolio ($/MWh)Total cos t of fuel burnt plus emis s ions on fuel burnt divided by total generation (thermal, hydro and wind)
Weighted Average Fuel Cost - Thermal ($/MWh)Total cos t of fuel burnt plus emis s ions on fuel burnt divided by total generation from thermal plant
Coal Stockpile - Stored Energy (PJ)The coal s tockpile clos ing balance in tonnes divided by an es timated nominal energy content of Huntly's coal (22 GJ/t)
CORPORATE
Total Recordable Injury Frequency Rate
Rolling 12 month TRIFR per 200,000 hours worked for employees and contractors
Headcount Bas ed 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 us ed to s et the price for crude oil s ales
Oil Hedge Levels (%)% hedged for remainder of FY as % of forecas t s ales

Retail Operating Metrics
Genesis Energy Limited FY21 Q1 Performance Report 7.
1
RETAIL SEGMENT
Q1 FY21Q1 FY20
% ChangeVar.Q4 FY20% ChangeVar.
RETAIL
Brand Net Promoter Score - Genesis (%)13.7% 14.0% (2.1%) (0.3)ppt22.5% (39.1%)(8.8)ppt
Interaction Net Promoter Score - Genesis (%)44.3% 40.7% 8.8% 3.6ppt39.3% 12.7%5ppt
Gross Customer Churn (3 month rolling average, %)26.3% 26.8% (1.9%) (0.5)ppt18.8% 39.9%7.5ppt
Net Customer Churn (3 month rolling average, %)17.2% 15.9% 8.2% 1.3ppt12.1% 42.1%5.1ppt
Cost to Serve ($ per ICP)$135$141(4.3%)($6)$138(2.2%)($3)
Electricity Netback ($/MWh)$128.09$113.9612.4%$14.13$122.304.7%$5.79
Gas Netback ($/GJ)$10.5$9.411.7%$1.1$10.6(0.9%)($0.1)
LPG Netback ($/t)$1,069$1,0016.8%$68$80932.1%$260
CUSTOMER NUMBERS
Customers > 1 Fuel123,131 118,991 3.5%4,140 121,110 1.7%2,021
Electricity Only Customers309,276 326,149 (5.2%)(16,873) 314,120 (1.5%)(4,844)
Gas Only Customers15,922 16,150 (1.4%)(228) 15,888 0.2%34
LPG Only Customers33,612 34,196 (1.7%)(584) 33,569 0.1%43
Total Customers481,941 495,486 (2.7%)(13,545) 484,687 (0.6%)(2,746)
Electricity ICPs Active-Occupied490,705 501,993 (2.2%)(11,288) 493,218 (0.5%)(2,513)
Gas ICPs Active-Occupied105,388 106,443 (1.0%)(1,055) 104,944 0.4%444
LPG Customer Connections75,173 70,385 6.8%4,788 73,357 2.5%1,816
Total ICPs671,266 678,821 (1.1%)(7,555) 671,519 0.0%(253)
VOLUMES AND PRICE
Volume Weighted Average Electricity Selling Price - Resi ($/MWh)$260.37$253.782.6%$6.59$263.74(1.3%)($3.37)
Volume Weighted Average Electricity Selling Price - SME ($/MWh)$219.39$216.311.4%$3.08$212.253.4%$7.14
Volume Weighted Average Electricity Selling Price - C&I ($/MWh)$159.22$152.814.2%$6.41$150.725.6%$8.50
Residential Electricity Sales (GWh)933 940 (0.7%)(7) 830 12.4%103
SME Electricity Sales (GWh)271 290 (6.6%)(19) 231 17.3%40
C&I Electricity Sales (GWh)572 488 17.2%84 541 5.7%31
Total Electricity Sales - Customer (GWh)1,775 1,717 3.4%58 1,603 10.7%172
Volume Weighted Average Gas Selling Price - Resi ($/GJ)$28.6$27.25.1%$1.4$32.8(12.8%)($4.2)
Volume Weighted Average Gas Selling Price - SME ($/GJ)$15.4$14.56.2%$0.9$17.3(11.0%)($1.9)
Volume Weighted Average Gas Selling Price - C&I ($/GJ)$10.5$10.41.0%$0.1$10.8(2.8%)($0.3)
Residential Gas Sales (PJ)1.1 1.0 10.0%0.1 0.7 57.1%0.4
SME Gas Sales (PJ)
0.5 0.6 (16.7%)(0.1) 0.3 66.7%0.2
C&I Gas Sales (PJ)1.2 1.1 9.1%0.1 0.9 33.3%0.3
Total Gas Sales (PJ)2.8 2.7 3.7%0.1 2.0 40.0%0.8
Volume Weighted Average LPG Selling Price - Resi ($/tonne)$2,373$2,2664.7%$107$2,1948.2%$179
Volume Weighted Average LPG Selling Price - SME/Bulk ($/tonne)$1,533$1,4495.8%$84$1,4614.9%$72
Bottled LPG Sales (tonnes)5,858 5,562 5.3%296 4,541 29.0%1,317
SME & Other Bulk LPG sales (tonnes)7,241 7,560 (4.2%)(319) 5,428 33.4%1,813
Total LPG Sales Volumes (tonnes)13,099 13,122 (0.2%)(23) 9,969 31.4%3,130

Wholesale Operating Metrics
Genesis Energy Limited FY21 Q1 Performance Report 8.
1
WHOLESALE SEGMENT
Q1 FY21
Q1 FY20% ChangeVar.Q4 FY20% ChangeVar.
GENERATION
Gas (GWh)751 725 3.6% 26 988 (24.0%)(237)
Coal (GWh)553 361 53.2% 192 275 101.1%278
Total Thermal (GWh)1,305 1,086 20.2% 219 1,263 3.3%42
Hydro (GWh)781 759 2.9% 22 450 73.6%331
Wind (GWh)6 6 0.0%- 5 20.0%1
Total Renewable (GWh)787 765 2.9% 22 455 73.0%332
Total Generation (GWh)2,091 1,851 13.0% 240 1,717 21.8%374
Average Price Received for Generation - GWAP ($/MWh) $136.96$124.599.9%$12.37$133.172.8%$3.79
Generation Emissions (ktCO2)956 683 40.0% 273 702 36.2%254
Generation Carbon Intensity (tCO2/GWh)457 369 23.8% 88 409 11.7%48
Forced Outage Factor (FOF)0.2% 0.3% (33.3%) (0.1)ppt0.5% (60.0%)(0.3)ppt
Equivalent Availability Factor (EAF)97.5% 94.6% 3.1% 2.9ppt90.8% 7.4%6.7ppt
Rankine Output (GWh)585 374 56.4% 211 441 32.7%144
Rankines Fueled by Coal (%)95% 97% (2.1%) (2)ppt63% 50.8%32ppt
WHOLESALE
Electricity Purchases - Retail (GWh)1,873 1,822 2.8%51 1,691 10.8%182
Average Retail Electricity Purchase Price - LWAP ($/MWh) $140.21$125.3511.9%$14.86$124.9312.2%$15.28
LWAP/GWAP Ratio (%)102% 101% 1.0% 1ppt94% 8.5%8ppt
Gas Purchases (PJ)12.6 12.3 2.4%0.3 12.9 (2.3%)(0.3)
Coal Purchases (PJ)4.2 1.9 121.1% 2.3 3.4 23.5%0.8
Electricity CFD Purchases - Wholesale (GWh)477 479 (0.4%) (2) 356 34.0%121
Electricity CFD Sales - Wholesale (GWh)645 453 42.4% 192 508 27.0%137
Swaption Sales - Wholesale (GWh)30 50 (40.0%) (20) 71 (57.7%)(41)
Wholesale Gas Sales (PJ)4.0
4.1 (2.4%) (0.1) 3.0 33.3%1.0
Wholesale Coal Sales (kilotonnes)- - -- - - -
Wholesale LPG Sales (tonnes)4,168 291 1332.3% 3,877 2,879 44.8% 1,289
Gas Used In Internal Generation (PJ)5.7 5.5 3.6% 0.28.0 (28.8%) (2.3)
Weighted Average Gas Burn Cost ($/GJ)$9.0$9.1(1.1%) ($0.1)$8.55.9% $0.5
Coal Used In Internal Generation (PJ) 6.324.1950.8% 2.1 3.09104.5% 3.2
Weighted Average Coal Burn Cost ($/GJ)$6.1$7.1(14.1%) ($1.0)$6.3(3.2%) ($0.2)
Weighted Average Fuel Cost - Portfolio ($/MWh)$49.25$47.793.1% $1.46$52.74(6.6%) ($3.49)
Weighted Average Fuel Cost - Thermal ($/MWh)$78.95$81.44(3.1%) ($2.49)$71.7210.1% $7.23
Coal Stockpile - Closing Balance (kilotonnes)328 386 (15.0%) (58) 423 (22.5%) (95)
Coal Stockpile - Stored Energy (PJ)7.2 8.5 (15.3%) (1.3) 9.3 (22.6%) (2.1)

Kupe and Other Operating Metrics
Genesis Energy Limited FY21 Q1 Performance Report 9.
KUPE SEGMENT
Q1 FY21Q1 FY20% ChangeVar.
Q4 FY20
% ChangeVar.
KUPE
Gas Production (PJ)3.0 3.1 (3.2%)(0.1) 2.9 3.4%0.1
Gas Sales (PJ)3.0 3.0 0.0%- 2.9 3.4%0.1
Oil Production (kbbl)96 111 (13.5%)(15) 97 (1.0%)(1.0)
Oil Production Yield (bbl/TJ)31.6 36.2 (12.7%)(4.6) 33.0 (4.2%)(1.4)
Oil Sales (kbbl)77 66 16.7%11 72 6.9%5.0
Realised Oil Price (NZD/bbl)$73.74$83.34(11.5%)($9.60)$74.46(1.0%)(0.7)
Average Brent Crude Oil (USD/bbl)$43.00$61.94(30.6%)($18.94)$29.1747.4%13.8
LPG Production (kt)13.0 13.4 (3.0%)(0.4) 12.7 2.4%0.3
LPG Production Yield (t/TJ)4.3 4.4 (2.3%)(0.1) 4.3 0.0%-
LPG Sales (kt)13.4 13.9 (3.6%)(0.5) 12.7 5.5%0.7
OTHER
Q1 FY21Q1 FY20% ChangeVar.Q4 FY20
% ChangeVar.
CORPORATE
Headcount (FTE)1,077 1,094 (1.6%)(17) 1,076 0.1%1
Total Recordable Injury Frequency Rate2.12 1.18 79.7%0.94 1.43 48.3%0.69

Appendix: Retail Segment
Genesis Energy Limited FY21 Q1 Performance Report 10.
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 FY17
Q2Q3Q4
Q1 FY18
Q2Q3Q4
Q1 FY19
Q2Q3Q4
Q1 FY20
Q2Q3Q4
Q1 FY21
GAS SALES VOLUME (PJ)
Quarterly Resi Sales VolumesQuarterly SME Sales Volumes
Quarterly C&I Sales VolumesRolling 12-month Sales Volume (RHS)
-
100
200
300
400
500
600
700
800
$0
$50
$100
$150
$200
Q1 FY17
Q2Q3Q4
Q1 FY18
Q2Q3Q4
Q1 FY19
Q2Q3Q4
Q1 FY20
Q2Q3Q4
Q1 FY21
ICP Count
Thousands
Cost to Serve ($/ICP)
ICP NUMBER & COST TO SERVE ($/ICP)
Electricity ICPs Active-OccupiedGas ICPs Active-Occupied
LPG Customer ConnectionsCost to Serve ($ per ICP)
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 FY17
Q2Q3Q4
Q1 FY18
Q2Q3Q4
Q1 FY19
Q2Q3Q4
Q1 FY20
Q2Q3Q4
Q1 FY21
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 FY17
Q2Q3Q4
Q1 FY18
Q2Q3Q4
Q1 FY19
Q2Q3Q4
Q1 FY20
Q2Q3Q4
Q1 FY21
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 FY21 Q1 Performance Report 11.
0
20
40
60
80
100
120
140
OctNovDecJanFebMarAprMayJunJulAugSep
WAIKAREMOANA STORAGE Vs LONG RUN AVERAGE (GWh)
Long Run Average Storage12-month Storage
0
1000
2000
3000
4000
5000
OctNovDecJanFebMarAprMayJunJulAugSep
NEW ZEALAND DAILY STORAGE (ALL GENERATORS, GWh)
Long Run Average Storage12-month Storage
0
200
400
600
800
1000
OctNovDecJanFebMarAprMayJunJulAugSep
TEKAPO STORAGE Vs LONG RUN AVERAGE (GWh)
Long Run Average Storage12-month Storage
0
1
2
3
4
5
6
OctNovDecJanFebMarAprMayJunJulAugSep
TONGARIRO GENERATION vs HISTORICAL AVERAGE (GWh/day)
7 day rolling Average20 year Average

0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
20%
75%
80%
85%
90%
95%
100%
Oct-19
Nov-19
Dec-19
Jan-20
Feb-20
Mar-20
Apr-20
May-20
Jun-20
Jul-20
Aug-20
Sep-20
Forced Outage Factor (FOF) %
Equipment Availability Factor (EAF) %
PLANT PERFORMANCE
Monthly EAFMonthly FOF
Appendix: Wholesale Segment
Genesis Energy Limited FY21 Q1 Performance Report 12.
0
500
1,000
1,500
2,000
2,500
Q1 2019Q2 2019Q3 2019Q4 2019Q1 2020Q2 2020Q3 2020Q4 2020Q1 2021
GENERATION BY POWER STATION (GWh)
South Island
Hydro
North Island
Hydro
Huntly Unit 6
Huntly Units 1 to
4 Coal
Huntly Units 1 to
4 Gas
Huntly Unit 5
$50
$70
$90
$110
$130
$150
$170
$190
$210
201820192020
ASX FUTURES SPOT PRICING ($/MWh)
1-Year Contract2-Year Contract3-Year Contract
0%
20%
40%
60%
80%
100%
$0
$20
$40
$60
$80
$100
Q1 FY17
Q2Q3Q4
Q1 FY18
Q2Q3Q4
Q1 FY19
Q2Q3Q4
Q1 FY20
Q2Q3Q4
Q1 FY21
PORTFOLIO AND THERMAL FUEL COSTS
Weighted Average Fuel Cost - Thermal ($/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 FY21 Q1 Performance Report 13.
FORWARD RISK MANAGEMENT
Oil Price Hedges (USD/bbl)% HedgedAverage Oil Price
1-12 months65%$58.02
13-24 months36%$55.62
25-36 months0%$0.00
USD/NZD HedgesRate
1-12 months75%0.666
13-24 months57%0.655
25-36 months9%0.610
-
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 FY17
Q2Q3Q4
Q1 FY18
Q2Q3Q4
Q1 FY19
Q2Q3Q4
Q1 FY20
Q2Q3Q4
Q1 FY21
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 FY17
Q2Q3Q4
Q1 FY18
Q2Q3Q4
Q1 FY19
Q2Q3Q4
Q1 FY20
Q2Q3Q4
Q1 FY21
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
OctNovDecJanFebMarAprMayJunJulAugSep
BRENT CRUDE OIL SPOT PRICE (USD/bbl)
12 mths to Sep 1912 mths to Sep 20