Genesis Stakeholder Day

Genesis Stakeholder Day
Future thinking discussion
Empowering New Zealand’s sustainable future

Haere mai

Genesis Stakeholder Day 2020 3.
RSVPs received
for the morning
Who we havein the room today
RSVPs received
for the afternoon
•139 attending in person
•91 guests
•8 speakers
•20 Genesis
•7 Media
•39 attending online
•109 organisations represented
•39 in person, 8 online
2%
6%
6%
24%
4%
15%
28%
4%
11%
CommunityCustomer
Government & RegulatoryInvestor
MediaSupplier
PartnerSpeaker
Genesis

4. 8 D E C E M B E R 2 0 2 0
Genesis Energy Board of Directors and Executive Team
CHAIRMAN
Barbara Chapman
CNZM, BCom, CMInstD
Catherine Drayton
BCom, LLB, FCA
Doug McKay
ONZM, BA, AMP (Harvard)
Tim Miles
BA
James Moulder
BA, BCA
Maury Leyland Penno
BE (Hons), FEng, CMInstD
Paul Zealand
MBA, BSc Mech. Eng(Hons)
CHIEF EXECUTIVE
Marc England
MBA, MEng
Chris Jewell
Chief Financial Officer
BE (Hons), MEM, CIMA
James Magill
Chief Digital Officer
BSc (Hons),
Dip Corp Finance,
MBA (Melbourne/Madrid)
Matthew Osborne
Chief Corporate
Affairs Officer
BCom, LLB
Nicola Richardson
Chief People Officer
BA (Hons)
Nigel Clark
Chief Operations Officer
BBus(Acc),
Dip Treasury Mgmt.,
FCPA, FAICD, CFTP (Snr)
Tracey Hickman
Chief Customer Officer
MA (Hons)
Shaun Goldsbury
Chief Trading Officer
BSc

Genesis Stakeholder Day 2020 5.
Andre Gaylard
General Manager
Future Generation
Courtney Simpson
Group Manager
Sustainability
Peter Kennedy
General Manager,
Growth and Innovation
Cameron Jardine
General Manager LPG
David Gutteridge
General Manager
Residential Join
James Ryan
Group Manager
Strategy and Risk
Emma-Kate Greer
Group Manager Employee
Experience and Strategy
Michaela Latimer
Community Liaison
Manager
Jackie Shen
Executive Team Manager
Tim McSweeney
Manager -Investor
Relations
Christopher Mirams
Group Manager
Communications
and Media
Tim Rowe
Strategy Partner
Tara Parata
Head of Customer Care
Kiely Evans
Communications and
Engagement Manager
Angus Judge
General Manager
Operational Excellence
Genesis team here today
Fiona Turvey
Marketing Manager

Genesis Stakeholder Day 2020 6.
Dr Rod Carr
Chair of the
Climate Change Commission
Rod Oram
Business journalist
and columnist
Mike Burrell
Executive Director of
the Sustainable Business Council
Kirsten Corson
Co-founder and Executive Director
of Zilch
Graeme Milne
Chairman of
SynlaitMilk Ltd
Arizona Leger
Youth climate leader
Nicole (Niki) Harré
Professor at
The University of Auckland
ShamubeelEaqub
Economist, financial analyst
and author
An interactive discussion

Empowering New Zealand’s
sustainable future
Manaaki whenua, manaakitangata, haerewhakamua

Genesis Stakeholder Day 2020 8.
Electricity contributes a small portion of New Zealand’s
emissions but is vital to the transition
Opportunity to decarbonise
transport through
electrification
Opportunity to decarbonise
process heat through
electrification
48%
21%
5%
26%
Gross carbon emissions
Other
(incl. industrial)
Electricity
Transport
Agriculture
New Zealand’s emissions 2018, MFE data

9. 8 D E C E M B E R 2 0 2 0
Our 84% renewable electricity system is a unique opportunityto
increase the only 40% renewable portion of total energy

We’re reducing
our emissions
while advocating for a reliable and affordable,
highly renewable electricity system

Genesis Stakeholder Day 2020 11.
Genesis has a track record of reducing emissions despite a
volatile output
0
1000
2000
3000
4000
5000
6000
7000
20102011201220132014201520162017201820192020
GENESIS’ HISTORICAL EMISSIONS
Monthly emissions
5 year average
kt, CO
2-e
annual
equivalent

Genesis Stakeholder Day 2020 12.
We’re continuing emissions reductions by setting
Science Based Targets consistent with limiting warming to 1.5°C
Target Year
1
:
Reduce direct emissions
Scope 1 & 2
Reduce indirect emissions
Scope 3
%
%
1.Target is based on our FY20 as the base year.
2.Combined scope 1, 2 & 3
Reduce emissions
2
by at least
1.2 million tonnes
Reduction for 1.5°CGenesis ambitionRemaining emissions

Genesis Stakeholder Day 2020 13.
2,813 2,813 2,813
450 450
1,350
2,200
2,455
850
1,507
1,312 1,312
6,775 6,775 6,775
Generation 5 Yr Average20252030
Cheaper renewable electricity will actively displace baseload
thermal
Backup Thermal
GWh
Baseload Thermal
Hydro
Genesis Renewable Generation (circa)
42%68%81%
83%
Market Renewable Generation (circa)
90%93%

Genesis Stakeholder Day 2020 14.
Empowering a sustainable future will require strategic partnerships,
alliances and collaboration through our supply chains

Genesis Stakeholder Day 2020 15.
100% renewable
electricity
Use electricity
to decarbonise
energy
We need more systems thinking and an energy strategy to
ensure we navigate the fastest route to decarbonise
Decarbonised economy

Understanding the
decarbonisation landscape

Genesis Stakeholder Day 2020 17.
Energy is one of the two major contributors to New Zealand’s
emissions
MFE data -2018
Annual
emissions
ktCO
2-e
Industrial process and product use
Energy
Agriculture
Land use, land-use change and forestry
-30,000
-20,000
-10,000
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
Waste
NEW ZEALAND’S EMISSIONS

Genesis Stakeholder Day 2020 18.
Almost all energy use is either electricity, heat or transport
MFE and EECA data -2018, Genesis analysis
-
5,000
10,000
15,000
20,000
25,000
30,000
35,000
ENERGY EMISSIONS
Transport
Heat
Electricity
Fugitive
Annual
emissions
ktCO
2-e

Genesis Stakeholder Day 2020 19.
0
5,000
10,000
15,000
20,000
25,000
30,000
ENERGY EMISSIONS
Energy emissions come from a range of activities, with solutions
only available for some in the 2020-2030 decade
Transport (cars)
Industry
Electricity
Fossil fuels –fugitive, processing and manufacture
Residential, commercial and agricultural
Agricultural vehicles
Transport (other)
Annual
emissions
ktCO
2-e
MFE data, 2018

20.
Electricity

Genesis Stakeholder Day 2020 21.
New Zealand’s Energy Trilemma
EMISSIONS
SECURITY
COSTS
RELIABILITY
HAS A PRICE

Genesis Stakeholder Day 2020 22.
60%
65%
70%
75%
80%
85%
90%
201020122014201620182020
RENEWABLE ELECTRICITY
SHARE -NEW ZEALAND
Electricity is decarbonising with falling wind and solar costs
providing tail winds for further progress
0
10
20
30
40
50
60
20162017201820192020
USD / MWh
RENEWABLE ELECTRICITY COSTS
IN THE USA
Solar Utility CostsWind Utility costs
Quarterly
5-year rolling average
MBIE dataLazard data

Genesis Stakeholder Day 2020 23.
Seasonal demand is a challenge for our electricity system, demand
is highest in winter when southern inflows are the lowest
0
50
100
150
200
250
300
350
400
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
JanFebMarAprMayJunJulAugSepOctNovDec
Solar Monthly Total (GWh)
Monthly Totals (GWh)
SEASONAL STORAGE CHALLENGE
South Island InflowNational DemandSolar Generation (per 1000MW Installed)

Genesis Stakeholder Day 2020 24.
Our hydro storage is too small to manage droughts and seasonality
Even with 4x the relative storage, Norway still only 98% renewable
0
5
10
15
20
25
30
Annual GenerationWet/Dry VariationStorage
NEW ZEALAND HYDRO BY TWH
0
20
40
60
80
100
120
140
Annual GenerationWet/Dry VariationStorage
NORWAY HYDRO BY TWH
NZ has 2 months hydro storage
(84% renewable)
Norway has 8 months hydro storage
(98% renewable)
NZ x 5

Genesis Stakeholder Day 2020 25.
Deep energy storage is a big challenge, there are limited options
available to store 3,000 GWh of energy
m
%

Genesis Stakeholder Day 2020 26.
Electricity is decarbonising, but the last few percent
will be challenging
0
100
200
300
400
500
0100020003000400050006000
Abatement cost (NZ$ / tCO
2
-
e
)
Abatement potential (ktCO2-e / year)
2030 MARGINAL ABATEMENT COST CURVE
Baseload thernalFlexible thermalGeothermal
MFE data

27.
Transport

Genesis Stakeholder Day 2020 28.
Cars are the largest decarbonisation opportunity
from the transport sector
0
2,000
4,000
6,000
8,000
10,000
BusesCarsRoad FreightRailShippingAir
Annual emissions
kt
CO
2
-
e
TRANSPORT EMISSIONS, NZ 2019
International
EECA / MBIE data, Genesis analysis

Genesis Stakeholder Day 2020 29.
Low energy costs help, but high upfront costs are a barrierfor
electric vehicle adoption
*Hyundai Kona, ~21,000 km/year over 10 year terms, as at 2020
https://www.eecabusiness.govt.nz/tools/vehicle-total-cost-of-ownership-tool/
Energy costs
Energy costs
Maintenance
Maintenance
Capital and
cost of
ownership
Capital and
cost of
ownership
$-
$20,000
$40,000
$60,000
$80,000
Hyundai KONA - PetrolHyundai KONA - EV
10 YEAR TOTAL COST OF OWNERSHIP*
Average weekly electricity
for an EV costs about the
same as 2 coffees
Petrol Electric

Genesis Stakeholder Day 2020 30.
Currently, price is not the only barrier to adoption
Some of the barriers to adoption could fall
away as consumers learn more about
Electric vehicles and how to use them
0%20%40%60%80%100%
Resale value
Other (please specify)
Safety
Brand
Performance
Convenience
Modern
Quiet
Technology
Requires less maintenance
Less reliance on fossil fuel
Less pollution
Less costs to run
REASONS FOR PURCHASE OF EV
0%10%20%30%40%50%60%70%
Hard to source vehicle in NZ
Efficiency
Do not have a garage
Do not know anything about electric...
Takes a long time to charge a car
Other (please specify)
Unsure about maintenance
Hard to find chargers
Low range
High price
BARRIERS FOR PURCHASE OF EV

Genesis Stakeholder Day 2020 31.
Electric vehicle adoption is growing but still has a long way to go
0%
20%
40%
60%
80%
100%
123456789101112131415161718192021
Time →
INDICATIVE ADOPTION CURVE
EV in NZ
c. 0.6% of
light vehicles

Genesis Stakeholder Day 2020 32.
Innovation is still needed for other transport sectors –is this an
opportunity for New Zealand to help find solutions?
ROAD FREIGHTSHIPPINGAIRCRAFT
A number of truck electrification projects
undertaken with funding from the Low
Emissions Vehicle Contestable Fund
Electric tug boat developed for Ports of
Auckland and electric ferries being explored
for Auckland and Wellington
Cora electric air taxi tested in Canterbury and
Sounds Air has intent to buy electric plane for
commercial flights

33.
Heat

Genesis Stakeholder Day 2020 34.
The cost of energy is critical for transitioning heat
0
5
10
15
20
25
30
Electricty -
electrode
Electricity -
heat pump
Gas - boilerCoal - boilerLPG - boilerBiomass
(chip) - boiler
Biomass
(pellets) -
boiler
$/GJ
COST OF ENERGY TO CREATE HEAT*
*Energy costs includingfuel,delivery,carbon cost at
$50/tonne, and typicalboiler efficiency
Electricity is
expensive to
use for heat...
unless used in
a heat pump

Genesis Stakeholder Day 2020 35.
Higher temperatures are harder to transition than lower
temperatures
Coal
Coal
Coal
Gas
Gas
Gas
Other
Other
Other
0
500
1,000
1,500
2,000
2,500
3,000
High temperature heatIntermediate HeatLow temperature heat
Annual emissions
kt
CO
2
-
e
EMISSIONS FROM HEAT
Easier to
transition
Harder to
transition
EECA data, Genesis analysis

Genesis Stakeholder Day 2020 36.
Significant heat emissions are from a small number of sectors
and sites
01,0002,0003,000
Dairy, meat and other
food and beverage processing
Methanol, petroleum refining
and other chemicals
Commercial
Residential
Pulp, Paper and Print
Cement, lime and other
non-metallic minerals
Agriculture, Forestry Fishing
Steel and aluminium production
Other energy use
Annual emissions ktCO
2-e
EMISSIONS FROM HEAT
Low temperature heat
Intermediate temperature heat
High temperature heat
EECA and MFE data, Genesis analysis

37.
Efficiency

Genesis Stakeholder Day 2020 38.
EECA data
Significant opportunities for efficiency exist in homes
and businesses
010002000300040005000
COST TO IMPLEMENT ENERGY SAVING TECHNOLOGIES
Cost to
implement
$/GWh
Cumulative electricity savings potential (GWh pa)
Business lighting
Business lightingBusiness Space heatingBusiness electric motorsResidential lightingResidential space heating and clothes drying

39.
Decarbonisation pathway

Genesis Stakeholder Day 2020 40.
Is New Zealand going to reduce emissions fast enough?
55,000
60,000
65,000
70,000
75,000
2020
Expected
Agriculture
and wate
TransportSpace,
water and
process heat
for food
processing
Other heavy
industry
ElectricityFurther
reductions
2025 to
2030
2030
targeted
MFE identified reductions to meet
provisional emissions budget 2021 to 2025
~50% of low
temperature heat
~200k cars
~50% gas and coal
fired generation
and cogeneration
Further emissions
reductions within
the decade
Annual emissions
kt
CO
2
-
e

Genesis Stakeholder Day 2020 41.
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 required for 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. All reference to $ are New Zealand dollars, unless specifically
stated.

---

MARKET RELEASE
Date: 9
th
December 2020
NZX: GNE / ASX: GNE
GENESIS STAKEHOLDER DAY

Genesis Energy Limited (Genesis) hosts its 2020 Stakeholder Day today to consider how we can
empower New Zealand’s sustainable future.

The presentation from the morning session is attached and is available on our Investor website,
https://www.genesisenergy.co.nz/investors. A full recording of the session will be made available
following the event, also on our Investor website.



ENDS



For media enquiries, please contact:
Allan Swann
Communications Manager
Genesis Energy
M: 027 211 4874

For investor relations enquiries, please contact:
Tim McSweeney
Investor Relations Manager
Genesis Energy
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 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 $NZ2.6bn during the 12 months ended 30 June 2020. More information can be
found at www.genesisenergy.co.nz