Genesis Energy Stakeholder Day (Strategy Session)

Genesis Stakeholder Day
Strategy sessions

Genesis Stakeholder Day 2020 2.
We’re refreshing our purpose, strategies and vision as we head
into the 2020’s
2
3
4
5
6
1
Create residential experiences that build customer loyalty
Grow our market share of small business customers
LPG #1 or #2 in every region
Unleash Energy Online in the tier 2 market
Design products for emerging energy management needs
Invest in technology and data to create consistent and
distinctive end to end Customer Experiences
Our refreshed retail strategy emphasises six key priorities,
delivering more for our core whilst building for the future
Our Future-gen strategy focuses on the opportunity to
deliver value uplift by actively managing the energy transition
New renewables displacing baseload thermal
Secure gas flexibility through contracts and storage
Emissions abatement from forestry
Improved plant efficiency and MW capacity
2
1
3
4

Genesis Stakeholder Day 2020 3.
Deliver more
from our core
Continue to leverage the stability from our diverse
revenue streams, and grow in markets where we identify
compelling opportunities
Navigate the
transition
Manage an economic transition to a lower carbon
portfolio, delivering carbon reductions for Genesis and our
customers and supporting a stable electricity market.
Build for the
future
Building the capabilities, systems and infrastructure for
future value growth
Empowering
New Zealand’s
sustainable
future

Genesis Stakeholder Day 2020 4.
The strategy break-outs cover three strategic themes core to our
future but not everything we do

Customer strategy
Delivering more for our customers
Second line can be in orange

Genesis Stakeholder Day 2020 6.
The first phase has seen good success, building momentum for the
next horizon
Reduced net churn from
18.8% to 14.8%
Maintained market share: 23%
of electricity ICPs and 35% of
gas ICPs
Grown Retail EBITDAF
from $110m to $134m
Digital interactions increased
from 47% to 65%
*FY18 to FY20
Clear brand leadership
and ownership of energy
management
Reduced cost-to-serve from
$160 to $140 per ICP
Expanded LPG business, now
#3 with 26% market share
Increased the proportion of dual
fuel customers from 20% to 25%

Genesis Stakeholder Day 2020 7.
We are delivering more for our core through customer loyalty,
retention and care
2
3
4
5
6
1
Create residential experiences
that build customer loyalty
Grow our market share of
small business customers
LPG #1 or #2 in every region
Unleash Energy Online in
the tier 2 market
Design products for emerging
energy management needs
Invest in technology and data to
create consistent and distinctive
end to end customer experiences
Key Goals
FY22 to FY24
2% churn reduction
+7% of SME book
(elec& gas)
+35% volume
Total Retail EBITDAF Uplift
$15 million by FY2024
Empowering
New Zealand’s
sustainable
future

8.
Residential experiences that build
customer loyalty

Genesis Stakeholder Day 2020 9.
Power Shout as a reward recognition system
for customers
(32.3)
What’s next?
We’re launching Power Shout hours
–putting the control firmly in our customer’s hands
•Earn Power Shout hours on every bill
•Giftthem to others
•Further encouragement for our customers to engage with their energy
•Match Power Shout offers to power demand to optimise supply
and demand balance
Power Shout has delivered:
Million
hours
of free power given
to customers over
the last 3 years
,
we’re regularly engaging
with and rewarding
Over
customers
An immediate
in those who have
taken up Power Shouts
%
churn improvement

Genesis Stakeholder Day 2020 10.
Home move journey an untapped retention opportunity
(32.3)
%
ofpeople who move
home, switch providers
Quick wins yielding
on average
more home move
digital journeys
from 2019
%
~$
million
EBITAF opportunity if we retain
an additional 5,500 customers
through home moves
Compare & Join
Aware & Elsewhere
FindSettle-in
Choose
Engage
Use
Solve or SwitchSet-up & AdjustCruise & Control

Genesis Stakeholder Day 2020 11.
Manaaki Kenehi–an opportunity to domore for vulnerable customers
(32.3)
TeTiraManaaki o Kenehi
Engaged in a proactive early engagement trial,
targeting customers that:
1)Are high tenure who have found themselves in
unusual hardship
2)Have displayed the top ranking predictive variable to
aged debt
We review each customer’s account with a view to set them
up for success –ranging from pricing plans, education on
monitoring usage and agency referrals
customers contacted
in 7 weeks through
proactive early
intervention
Over
,
average debt
reduction across
all debt buckets
%
Reduced customer
disconnections by
%
Aug 2019 to Aug 2020
There was no judgement [by Genesis] because
we were a little behind, it was about helping us
–Steve
”
“
3
-21
18
-73
-44
-207
-250
-200
-150
-100
-50
0
50
30+ day bucket60+ day bucket90+ day bucket
Average Movement in Debt per ICP
Control Group
Manaaki Kenehi
Customers
IMPACT TO DEBT

12.
Grow our market share of small
business customers

Genesis Stakeholder Day 2020 13.
Smaller businesses bring higher margins and are a large volume
segmentof the market
What’s next?
•Targeted acquisition through partnerships and digital
channel to drive profitable growth
•Leveraging relevant residential propositions
(e.g. Energy IQ and Power Shout) to retain and attract
customers
•Creating distinctive product and service experiences our
customers love
By FY2024:
Drive
%
Dual Fuel uptake
Grow by
ICPs
,
Scale digital channel to
acquisition
%

14.
LPG #1 or #2 in every region

Genesis Stakeholder Day 2020 15.
Transforming CX and service capability through digital enablement
*Actual customer feedback
Targeted volume and optimised routing drives lower CTD
“Simplicity and
assurance of a
constant gas supply”
“It’s proactive rather than reactive”
“Not having to go and
check the bottle.
Especially in winter”
Thanks for your order. We
expect to deliver your gas
bottle on Tuesday. Please
remember to tie up your
dog.If anything changes
we will let you know.
Thanks
for your order.
We expect to deliver
your gas bottle on Tuesday.
Please remember to tie
up your dog.If anything
changes we will
let you know.
PREVIOUS OPERATIONS
OPTIMISED ROUTING
By FY2024:
Laying
foundations for
future growth
Reduce
single fuel
churn by
%
volume
growth
%

Digital and
innovation strategy
Powering Genesis’ next horizon

Genesis Stakeholder Day 2020 17.
2
3
4
5
6
1
Create residential experiences that
build customer loyalty
Grow our market share of
small business customers
LPG #1 or #2 in every region
Unleash Energy Online in the tier 2 market
Design products for emerging energy
management needs
Invest in technology and data to create consistent
and distinctive end to end customer experiences
We are continuing to explore emerging customer needs to build
for the future
Empowering
New Zealand’s
sustainable
future

Genesis Stakeholder Day 2020 18.
Several global trends are playing out
Appetite for
de-carbonising
increasing
Government
Investors
Businesses
Consumers
Adjacent industries
participating
Oil and gas
Tech
Telco
Vehicles
Decentralisation
Digital platform models
Distributed generation
and storage
Electric vehicles
Demand load shifting

Genesis Stakeholder Day 2020 19.
Strategy
The transition from
energy supplier to
energy manager
Business
Model
Customer
Problem
Technology
What customer
problem is
being solved?
What technology
is available to
enable this
proposition?
Is the
proposition
commercially
viable?
Future propositions
Determining the focus

Genesis Stakeholder Day 2020 20.
4 focus territories for developing future propositions
EVs
•Helping New
Zealand transition to
electrified transport
•By supporting an
ecosystem level
approach, we aim to
drive purchase
decisions and
behaviour change
IN-HOME
•To support our
customers with
products and
services that help
them to make,
store and use
energy at home
more effectively
ADVICE
•Helping all
customers
make informed
choices about
energy
SUSTAINABILITY
•To empower
customers to
make choices
and take action
to reduce
carbon
emissions

Genesis Stakeholder Day 2020 21.
Our vision for large
businesses and energy
services

Genesis Stakeholder Day 2020 22.
Future
Current
Our vision for residential energy management:Increasing range
of data leads to enhanced actionable insights for customers
Energy insights
(knowledge + advice)
Hardware
(Action)
Market services
(Action)
Customer
Suppliers
Wholesale
Distributors
Actionable
insights
Data
+

Genesis Stakeholder Day 2020 23.
2
3
4
5
6
1
Create residential experiences that
build customer loyalty
Grow our market share of
small business customers
LPG #1 or #2 in every region
Unleash Energy Online in the tier 2 market
Design products for emerging energy
management needs
Invest in technology and data to create consistent
and distinctive end to end customer experiences
We are investing in the technology needed to deliver our
customer strategy
Empowering
New Zealand’s
sustainable
future

Genesis Stakeholder Day 2020 24.
Range and volume of data is growing, presenting ever greater
opportunities to understand and serve customers
Customer Data
Advanced Elec/Interval
EOL Customer
Data
IVR Customer
Actions
EIQ Customer
events/actions
Wholesale Data
C&I Real time Energy & Water
Advanced Gas/Interval
Google Activity
C&I TOU/Interval
Other Customer Digital Activity
Rubiks Sales &
Service Interactions
Advanced Forecasting
Streaming Hi Res Meter Data
Enhanced Wholesale and Generation
0
10
20
30
40
2017201820192020202120222023
Data (TB)
VOLUME OF DATA IN OUR DATA WAREHOUSE
Today
Computation, connectedness and potential
grow exponentially with growing data sources

Genesis Stakeholder Day 2020 25.
Mahi Tahiwill simplify data flows by centralising and decoupling
the data landscape
FROM
maintaining many-to-many
connections between customer facing and
core system layers
TO
using data layer as
a single source of truth
DATA INTEGRATION LAYER
CUSTOMER FACING LAYER
CORE SYSTEM/
INFRASTRUCTURE LAYER
~ 600 connections
~ 30 connections
Mahi Tahi

Genesis Stakeholder Day 2020 26.
Project Rubiksreconsiders several customer systems as a
group, re-platforming our sales, service and billing capabilities
RubiksScope
Current
Salesforce
Functionality
Service
Sales
Multiple systems
CPQ
Historical script based
processes
Manual processes
Product
Manage
ment
Compliance
Current
Gentrack
Functionality
Rating
Billing

Genesis Stakeholder Day 2020 27.
A unique opportunity to pivot technology to obtain business
agility and enable rapid delivery of desired customer experiences
Major
version​
Major
version​
Minor
Minor
Minor
Multi-year cycle of slow,
highcostchange​
Continuous, fast, small, low risk change
to achieve high value and velocity

Genesis Stakeholder Day 2020 28.
Rubiks+ Mahi Tahihave the potential to deliver a step change in
retail performance
Example business outcomes from international peers
Source: Discussions with potential technology partners and international utilities
%
self service
+
integration costs
%
-
NPS
+
%
Time to quote
%
--
Cross sell
%
+
Cost
%

Future-gen strategy
Actively enabling New Zealand’s energy transition

Genesis Stakeholder Day 2020 30.
Decarbonisation Enablers
(Reshape Fuels Portfolio)
Thermal Displacement
(Reshape Electricity Portfolio)
Portfolio Flexibility &
Regulatory Work
An active enabler of New Zealand’s energy transition
Goals for 2030 and 2025
Proactively and economically displace baseload thermal with
affordable and reliable renewable electricity

Genesis Stakeholder Day 2020 31.
Empowering
New Zealand’s
sustainable
future
Long-term opportunity to deliver value uplift by actively
managing the energy transition
New renewables displacing baseload
thermal
Secure gas flexibility through
contracts and storage
Emissions abatement from forestry
Improved plant efficiency and MW
capacity
Key Metrics
By 2030
2,650 GWh of
renewables
110 TJ/day flexibility
and 20PJ storage
500,000 tonnes of
carbon credits
2
1
3
4

Genesis Stakeholder Day 2020 32.
Decarbonisation Enablers
(Reshape Fuels Portfolio)
Gas flexibility / storage
Long-term Carbon
Offset
Coal Demand / Supply
Gas Demand / Supply
New Renewables
(Buy PPA, Build,
Partner)
Thermal Displacement
(Reshape Electricity Portfolio)
Uncontracted / Trading
Contracted / Hedges
Thermal
(Baseload to Backup)
Portfolio Flexibility &
Regulatory Work
Market Structure
Huntly Running
Maintenance / CAPEX
An active enabler of New Zealand’s energy transition
By 2030 our goals are to
•Secure 2,650 GWh of renewables (Waipipi450 GWh)
•Obtain 110 TJ/day of gas flexibility (up to 20PJ of storage)
•Purchase 500,000 tonnes of long-term carbon (20+ years)
Three areas of focus to create value from flexibility and
optionality in our generation portfolio

Genesis Stakeholder Day 2020 33.
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
PORTFOLIO CHANGES ASSUMING FLAT DEMAND
Baseload Thermal
Hydro
Genesis Renewable Generation (circa)
42%68%81%
83%
Market Renewable Generation (circa)
90%93%

Genesis Stakeholder Day 2020 34.
Residential
Small Business
Large business
Other
POTENTIAL DRIVERS
OF FUTURE MARKET
DEMAND
Electrification of
Industrial Process
Heat
Organic demand
growth (c. 1% p.a.)
Some Major Energy
Users may close NZ
operations
Electrification
of Transport
New Industrial
Demand
3,312
1,166
1,767
529
Retail 5 Yr Average
CURRENT PORTFOLIO
Our increased optionality and flexibility lets us create value in
any demand scenario
6,775
GWh

Genesis Stakeholder Day 2020 35.
Carbon
Emission
Reductions
Variabilising
Fixed Costs
Portfolio
Flexibility
Reshape
Electricity
Portfolio
Reshape Fuel
Portfolio
Demand
e.g.
Tiwaiexit
Supply
e.g. PPAs,
New Build
Renewable
Increase
Thermal
Displacement
Unit 5
Coal Management
Plan
Rankines
Thermal Fuel
Demand
Gas
Purchases
Gas
Storage
Plant
Staff /
Roster
Flexible
Operations
We will actively transform our portfolio to maximise value in
preparation of inevitable market changes

Genesis Stakeholder Day 2020 36.
Renewable Electricity GenerationClosure of TiwaiOther Market Uncertainties
Portfolio flexibility is required to create opportunities in light of
market uncertainties

Genesis Stakeholder Day 2020 37.
Outage and
Plant Investment
Governance processes
Asset strategies vs
portfolio needs
Predictive analytics
Risk based inspections
Supplier relationships
Flexible
Fuel Supply
Enable thermal backup
Gas flexibility and
storage commitments
Coal storage and
commitments
Commitment
matching certainty
Operational
Structures
Low cost bias
Operator maintainer
Flex to meet demand
External resources as
required
Core
Flexible
Realising value in uncertain times requires us to think differently
to create greater flexibility and optionalityin our portfolio

Genesis Stakeholder Day 2020 38.
Gas flexibility
23
Carbon credits
110 TJ/day
(55 TJ/day injection /
withdrawal)
20 PJ Storage
Renewable
electricity
1
1,800 GWh
(incl. Waipipi 450 GWh)
Dryland hits target
(150 kilotonnes
below market price)
Extra 100 ktsecured
110 TJ/day
(55 TJ/day injection /
withdrawal)
20 PJ Storage
2,650 GWh
(incl. Waipipi 450 GWh)
500,000 tonnes
below market price
2025
2030
Achieving Future-gen goals is how we
will deliver Science Based Targets

Genesis Stakeholder Day 2020 39.
Consented renewable
generation 8,000 GWh
(Electricity Authority)
Future-gen goal
2030
2,650 GWh
Waipipi
450
GWh
Opportunities
identified in
MBIE
Generation
stack
c. 100,000
GWh
Projects with
discussions
underway
circa 3,900 GWh
Pipeline for new renewable electricity developments
exceeds our stated ambition

Genesis Stakeholder Day 2020 40.
90
108125133
68%
81%
94%
100%
0
20
40
60
80
100
120
140
Oct-20Nov-20Dec-20Jan-21Feb-21
133 MW CAPACITY RAMP-UP
Tilt Strategic PartnershipDrylandCarbon Partnership

Chief Financial
Officer Wrap-up
Tracking our path through the transition
Second line can be in orange

Genesis Energy Stakeholder Day 2020 42.
Our financial track record shows were abusiness that does what
it says it will do –we are on track for the$400m target set in FY16
1
Capital expenditure excludes M&A activities.
1
Capital Expenditure amounts differ from amounts stated in the financial statements due to exclusion of capital expenditure relating to
Huntly U5’s Long Term Maintenance contract (LTMA) (FY20: $16.5m).
FY17 TO FY20 DIVIDEND CENTS PER SHARE & PAY-OUT HISTORY
1
Gross yield based on closing share price as at 18 August 2020, $2.80.
2
Free cash flow represents EBITDAF less tax paid, net interest and stay in business capital expenditure.
3
Large one-off items include the Tekapo gate, Tekapo turbine overhaul and Tekapo turbine runners upgrades.
225
236
261
251
250
FY16FY17FY18FY19FY20
LPG distribution acquisition &
increased share in Kupe JV
FY17 TO FY20 CONTROLLABLE OPERATING EXPENSES
1
$ Millions
40
47
80
8989
95
FY16FY17FY18FY19FY20FY21 Up to
FY17 TO FY21 CAPITAL EXPENDITURE
1
$ Millions
1
Controllable operating expenses refer to Employee Benefits plus Other Operating Expenses. In FY20 Genesis
updated its segment reporting and this included realigning the Technology & Digital function previously in Corporate
to the Retail Segment. All comparable periods have been adjusted to reflect the new segment note structure.
333
360
369
356
FY17FY18FY19FY20FY21 target
FY17 to FY21 EBITDAF
$ Millions
Current guidance
395 -415
16.60
16.90
17.05
17.20
106%
89%89%
98%
94%
FY17FY18FY19FY20
Dividends (CPS)% of Free Cash Flow% of Normalised FCF (2)

Genesis Energy Stakeholder Day 2020 43.
Empowering
New Zealand’s
sustainable
future
Our purpose fits within our vision and strategy
Our plan spans two horizons
Horizon 1–FY22 to FY24
Horizon 2 –FY24 and beyond

Genesis Energy Stakeholder Day 2020 44.
Empowering
New Zealand’s
sustainable
future
Our Horizon 1 Targets
•Retail EBITDAF -$15m
•Wholesale EBITDAF -$30m
Driven by
•Churn
•Small business share
•Retail LPG volume
•Energy Onlineshare of Tier 2 mkt
•Brand, Interaction,
Journey Customer NPS
•Plant efficiency & MW capacity
•Legacy gas position
•Employee NPS
Horizon 2 Targets
•Renewables-2650 GWh
•Gas storage -110 TJ/day, 20 PJ storage
•Forestry carbon credits-500 kt
•EBITDAF through the transition
•Thermal plant flexibility
Horizon 1 Targets
•50% of large business customers
subscribed to Energy Services
•EIQ engagement
•An adaptive and empowered
culture
Horizon 1 Targets
•Delivering sales / service /
billing platform
•Delivering core data platform
•Kupe Strategic review –mid 2021
•Skills complementing a
technology enabled evolution

Genesis Energy Stakeholder Day 2020 45.
Horizon 2 FY24+
Horizon 1 FY22-24
A number of opportunities to
grow earnings and de-risk carbon exposure
TBC over timeUp to $45mIncremental EBITDAF Potential
Depends on execution choiceNil to lowInvestment required
Restructured
legacy gas contracts
Retail growth
opportunities
Leveraging new
technology platform
Growth in core
Markets (electrification)
Increasing value in
backup thermal
De-risked investment proposition
Baseload thermal transition
(lower cost renewables)
Waipipi

Genesis Energy Stakeholder Day 2020 46.
Genesis is well positioned for market uncertainties
Market
uncertainties
Genesis’
position
Industrial
closures
Largest
residential supplier
Largely
North Island located
Able to offset
more expensive
thermal
Gas
availability
We have
long-term rights to
gas
Portfolio
flexibility and
optionality
Pace of
electrification
Transition
expected to benefit
electricity
Carbon
pricing
Future-gen
will lower
emissions

Genesis Energy Stakeholder Day 2020 47.
Stable capex outlook and strengthening balance sheet
FY21FY22FY23FY24FY25
CAPEX OUTLOOK
Current
guidance
up to $95m
If the Kupe strategic
review resulted in a sale,
the balance sheet could
be further strengthened
FY20FY21FY22FY23FY24
DEBT/EBITDAF
S&P BBB+
FY20FY21FY22FY23FY24
BALANCE SHEET CAPACITY
Up to $375m by FY24
Baseline CAPEX spend Upcoming CAPEX decisions
(Kupe dev & billing/sales platform)
FY20FY21FY22FY23FY24
FREE CASH FLOW AND DIVIDEND
CoreKupeDividend

Genesis Energy Stakeholder Day 2020 48.
Why invest in Genesis?Our commitments
Attractive growing
dividend
Earnings growth and
improved balance sheet
Reducing carbon
exposure
Strong team with an
innovative culture
Distinctive customer
experiences
Improve customer
Net PromoterScore
Limit climate change
Science based target
for 1.5°C by 2025
Stable diverse earnings
A plan for growth

Genesis Stakeholder Day 2020 49.
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 (STRATEGY PRESENTATION)

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 afternoon strategy session is attached and is available on our Investor
website, https://www.genesisenergy.co.nz/investors. Video highlights 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