FY21 Q3 PERFORMANACE REPORT

20 April 2021
FY21 Q3
Performance Report
G E N E S I S E N E R G Y L I M I T E D

FY21 Q3 Quarterly Performance Highlights
Retail
Kupe
Genesis Energy Limited FY21 Q3 Performance Report 2.
Corporate​
Genesis affirmed ourcommitment to empowering New Zealand's sustainable future in our submission to the Climate Change
Commission. Genesis called on the Government to develop a low-carbon energy pathway across all sectors, rather than a
single electricity target.We believe that New Zealand's highly renewable electricity system is an important competitive
advantage which can be utilised to decarbonise transport and industry.
Retail
As a proud sponsor of Emirates Team New Zealand, we turned the energy created from fans wearing our high-tech
Supporter Shirts into 185,141 free hours of power for more than 600 Genesis-powered schools.We also launched Power
Shout hours, the latest enhancement to our most popular customer reward, giving customers the freedom to use their free
hours of power whenever they like.Over the quarter, we gave our customers over 1.2 million Power Shout hours. This
strong customer engagement led to lower customer churn and improvements in interaction net promoter score.
The re-platforming of our sales, service and billing technologiesis proceeding as planned. Potential suppliers have been
shortlisted and a final decision is expected by the end of FY21.
Wholesale
The Waipipiwind farm achievedpractical completion in March with all 31 turbines now commissioned. The wind farm
provided Genesis with 77 GWh of renewable generation at below our thermal fuel cost. The Huntly Power Station continued
to provide backup, with a third Rankine unit returning to the market.A total of 270 GWh of energy was generated for our
swaption partners. Reduced hydro inflows in March, inconsistent gas availability and increased market making costsmade
trading conditions challenging.
Kupe
The strategic review of our Kupe asset is continuing as planned. Genesis has received strong interest from potential buyers
for its stake in Kupe. We are working with a number of interested parties whilst we continue to progress our strategic review
and expect to update the market by to the end of FY21.
The Inlet Compression Project is progressing well with all major components on-site. The project remains on-track for
completion in Q1 FY22
Huntly Power
station is doing what
it was built to do,
providing critical
back-up to ensure
security of supply in
the wholesale
electricity market.
Nigel Clark
Chief Operations Officer

Retail Segment Performance vs FY21 Q2
Highs
Lows
Total Customers
474k
Genesis Net
Churn
15.2%
1.7ppt
Customers > 1
Fuel
126k
Genesis Gross
Churn
24.4%
2.4ppt
Genesis Energy Limited FY21 Q3 Performance Report 3.
0.6%
0.8%
Total LPG Sales
Volumes
8,044 tonnes
20%
Total Gas
Sales
1.5 PJ
7.1%
Cost to serve
vs. pcp
$134/ICP
2.9%
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
14.0%
112,000
114,000
116,000
118,000
120,000
122,000
Apr-20
May-20
Jun-20
Jul-20
Aug-20
Sep-20
Oct-20
Nov-20
Dec- 20
Jan-21
Feb-21
Mar- 21
RESIDENTIAL DUAL FUEL CUSTOMER NUMBERS & CHURN (3-MONTH ROLLING AVERAGE %)
Customers > 1 ProductDual Fuel Churn (R HS)
Seasonal decline after
strong previous quarter.

Total Renewable
487 GWh
Wholesale Segment Performance vs Prior Comparable Period
HighsLows
20%
Genesis Energy Limited FY21 Q3 Performance Report 4.
Swaption Volumes
270 GWh
7.6%
Average Coal
Burn Cost
$6.1/GJ
257 GWh
Total Generation
1,959 GWh
Waipipi
Generation
77 GWh
Gas Generation
605 GWh
25%
15%
0
100
200
300
400
Jan-20
Feb-20
Mar- 20
Apr-20
May-20
Jun-20
Jul-20
Aug-20
Sep-20
Oct-20
Nov-20
Dec- 20
Jan-21
Feb-21
Mar- 21
HUNTLY RANKINE UTILISATION (GWh)
Genesis Cus tomers/Portfol io Backup S waption Partners Backup Other Retailers/S pot Customers
HYDROLOGY
Q3 FY21Q3 FY20
Hydro
Generation
483419
Hydro
Inflows
429385
Closing
Storage
220
(71% of ave.)
341
(110% of ave.)

Kupe Segment Performance vs Prior Comparable Period
Highs
Lows
Genesis Energy Limited FY21 Q3 Performance Report 5.
Gas Production
2.4 PJ
17%
Realised Oil Price
$78.14 NZD/bbl
Brent Crude Oil
$60.90 USD/bbl
14%
Oil Production
Yield
30.3 bbl/TJ
14%
LPG Production
10.5 kt
16%
21%

Glossary
Genesis Energy Limited FY21 Q3 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
POWER PURCHASE AGREEMENTS
Wind (GWh)Energy purchased through long term agreements with generator
Average Price Received for Generation -GWAP ($/MWh) Price received at production node. (E.g. Waipipi at WVY1101 node)
WHOLESALE
Average Retail Electricity Purchase Price -LWAP ($/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) orCap/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 FY21 Q3 Performance Report 7.
1
RETAIL SEGMENTQ3 FY21Q3 FY20
% ChangeVar.
Q2 FY21
% ChangeVar.
RETAIL
Bra nd Net Promoter Score -Ge nesis17.618.0(2.2%)(40)ppt 17.60.0%0ppt
I nte raction Net Promoter Score -Ge nesis50.342.318.9% 800ppt 44.712.5%560ppt
Gros s Customer Churn (3 month rolling ave rage, %)24.0% 24.6% (0.8%)(0.2)ppt 26.8% (9.0%)(2.4)ppt
Ne t Cus tomer Churn (3 month rolling a verage, %)15.2% 15.2% -0ppt 16.9% (10.1%)(1.7)ppt
Cos t to Se rve ($ per I CP)$134 $138 (2.9%)($4)$134 0.0%$0
El e ctri city Ne tback ($/MWh)$114.30 $108.55 5.3%$5.75 $114.54 (0.2%)($0.24)
Ga s Netback ($/GJ)$11.3 $10.6 6.6%$0.7 $10.5 7.6%$0.8
LPG Ne tba ck ($/t)$907 $1,009 (10.1%)($102)$1,012 (10.4%)($105)
CUSTOMER NUMBERS
Cus tomers > 1 Fue l126,023 119,852 5.1%6,171 124,996 0.8%1,027
El e ctri city Onl y Customers299,058 316,825 (5.6%)(17,767)303,518 (1.5%)(4,460)
Ga s Only Customers15,846 15,976 (0.8%)(130)15,649 1.3%197
LPG Onl y Cus tomers33,775 33,685 0.3%90 33,584 0.6%191
Total Customers474,702 486,338 (2.4%)(11,636)477,747 (0.6%)(3,045)
El e ctri city I CPs Active-Occupied484,074 494,248 (2.1%)(10,174)487,149 (0.6%)(3,075)
Ga s ICPs Active-Occupied105,660 105,031 0.6%629 105,483 0.2%177
LPG Cus tome r Connections78,288 72,164 8.5%6,124 76,864 1.9%1,424
Total ICPs668,022 671,443 (0.5%)(3,421)669,496 (0.2%)(1,474)
VOLUMES AND PRICE
Vol ume Weighted Ave rage Electricity Se lling Pri ce -Resi ($/MWh)$270.45 $275.37 (1.8%)($4.92)$270.43 0.0%$0.02
Vol ume Weighted Ave rage Electricity Se lling Pri ce -SME ($/MWh)$218.96 $217.60 0.6%$1.36 $211.99 3.3%$6.97
Vol ume Weighted Ave rage Electricity Se lling Pri ce -C&I ($/MWh)$133.51 $133.13 0.3%$0.38 $119.53 11.7%$13.98
Re s idential El ectricity Sa les (GWh)568 587 (3.2%)(19)638 (11.0%)(70)
SME El e ctricity Sales (GWh)273 285 (4.2%)(12)276 (1.1%)(3)
C&I El e ctri city Sales (GWh)566 598 (5.4%)(32)597 (5.2%)(31)
Total Electricity Sales -Customer (GWh)1,407 1,469 (4.2%)(62)1,511 (6.9%)(104)
Vol ume Weighted Ave rage Gas Selling Pri ce -Resi ($/GJ)$49.6 $51.4 (3.5%)($1.8)$37.6 31.9%$12.0
Vol ume Weighted Ave rage Gas Selling Pri ce -SME ($/GJ)$19.4 $17.6 10.2%$1.8 $17.0 14.1%$2.4
Vol ume Weighted Ave rage Gas Selling Pri ce -C&I ($/GJ)$12.3 $10.9 12.8%$1.4 $12.2 0.8%$0.1
Re s idential Gas Sales (PJ)0.3 0.3 0.0%-0.6 (50.0%)(0.3)
SME Ga s Sales (PJ)0.3 0.3 0.0%-0.4 (25.0%)(0.1)
C&I Ga s Sales (PJ)0.8 0.8 0.0%-0.7 14.3%0.1
Total Gas Sales (PJ)1.5 1.4 7.1%0.1 1.6 (6.3%)(0.1)
Vol ume Weighted Ave rage LPG Selling Pri ce -Resi ($/tonne)$2,769 $2,819 (1.8%)($50)$2,410 14.9%$359
Vol ume Weighted Ave rage LPG Selling Pri ce -SME/Bulk ($/tonne)$1,542 $1,489 3.6%$53 $1,542 0.0%$0
Bottl e d LPG Sales (tonnes)3,102 3,250 (4.6%)(148)4,200 (26.1%)(1,098)
SME & Othe r Bul k LPG sales (tonnes)4,942 5,653 (12.6%)(711)5,843 (15.4%)(901)
Total LPG Sales Volumes (tonnes)8,044 8,903 (9.6%)(859)10,044 (19.9%)(2,000)

Wholesale Operating Metrics
Genesis Energy Limited FY21 Q3 Performance Report 8.
1
1
WHOLESALE SEGMENTQ3 FY21Q3 FY20% ChangeVar.Q2 FY21% ChangeVar.
GENERATION
Ga s (GWh)605 809 (25.2%)(204)644 (6.1%)(39)
Coa l (GWh)868 400 117.0% 468 359 141.8%509
Total Thermal (GWh)1,473 1,209 21.8% 264 1,003 46.9%470
Hydro (GWh)483 419 15.3% 64 674 (28.3%)(191)
Wi nd (GWh)4 5 (20.0%)(1)5 (20.0%)(1)
Total Renewable (GWh)487 425 14.6% 62 680 (28.4%)(193)
Total Generation (GWh)1,959 1,633 20.0% 326 1,682 16.5%277
Ave ra ge Pri ce Received for Ge neration -GWAP ($/MWh) $211.87 $87.01 143.5%$124.86 $116.10 82.5%$95.77
Ge ne ration Emissions (ktCO2)1,080 744 45.2% 336 625 72.8%455
Ge ne ration Ca rbon I ntensity (tCO2/GWh)551 455 21.1% 96 372 48.1%179
Force d Outage Factor (FOF)0.4% 0.3% 33.3% 0.1ppt0.8% (50.0%)(0.4)ppt
Equi pment Availability Factor (EAF)88.8% 91.8% (3.3%)(3)ppt88.9% (0.1%)(0.1)ppt
Ra nkine Output (GWh)877 496 76.8% 381 397 120.9%480
Ra nkines Fueled by Coa l (%)99% 80% 23.8% 19ppt 90% 10.0%9ppt
POWER PURCHASE AGREEMENTS
Wi nd (GWh)77 -0.0%77 30 156.7%47
Ave ra ge Pri ce Received for PPA -GWAP ($/MWh)$171.36 $0.00 0.0%$171.36 $97.95 74.9%$73.41
WHOLESALE
El e ctri city Purchases -Retail (GWh)1,481 1,552 (4.6%)(71)1,590 (6.9%)(109)
Ave ra ge Retail El ectricity Purchase Pri ce -LWAP ($/MWh) $217.98 $79.27 175.0%$138.71 $115.82 88.2%$102.16
LWAP/GWAP Ra tio (%)103% 91% 13.2% 12ppt100% 3.0%3ppt
Ga s Purchases (PJ)7.7 11.1 (30.6%)(3.4)10.7 (28.0%)(3.0)
Coa l Purchases (PJ)5.0 5.1 (2.0%)(0.1)7.8 (35.9%)(2.8)
El e ctri city CFD Purchases -Wholesale (GWh)376 361 4.2% 15 627 (40.0%)(251)
El e ctri city CFD Sales -Wholesale (GWh)956 565 69.2% 391 816 17.2%140
Swa ption Sales -Wholesale (GWh)270 13 1976.9% 257 1 26900.0%269
Whol esale Gas Sales (PJ)1.6 3.2 (50.0%)(1.6)4.0 (60.0%)(2.4)
Whol esale Coal Sales (kilotonnes)-------
Whol esale LPG Sales (tonnes)3,950 1,282 208.1% 2,668 3,827 3.2% 123
Ga s Used I n I nternal Generation (PJ)4.6 6.5 (29.2%)(1.9)5.0 (8.0%)(0.4)
We i ghted Ave rage Gas Burn Cost ($/GJ)$9.6 $9.2 4.3% $0.4 $9.0 6.7% $0.6
Coa l Used I n I nternal Ge neration (PJ) 9.734.49116.7% 5.2 4.05140.2% 5.7
We i ghted Ave rage Coal Burn Cost ($/GJ)$6.1 $6.6 (7.6%)($0.5)$6.0 1.7% $0.1
We i ghted Ave rage Fuel Cost -Portfolio ($/MWh)$64.57 $61.59 4.8% $2.98 $48.48 33.2% $16.09
We i ghted Ave rage Fuel Cost -Thermal ($/MWh)$85.92 $83.23 3.2% $2.69 $81.33 5.6% $4.59
Coa l Stockpile -Cl osing Balance (kilotonnes)283 402 (29.6%)(119)496 (42.9%)(213)
Coa l Stockpile -Stored Energy (PJ)6.2 8.8 (29.5%)(2.6)10.9 (43.1%)(4.7)

Kupe and Other Operating Metrics
Genesis Energy Limited FY21 Q3 Performance Report 9.

Appendix: Retail Segment
Genesis Energy Limited FY21 Q3 Performance Report 10.
-
100
200
300
400
500
600
700
800
$0
$20
$40
$60
$80
$100
$120
$140
$160
$180
Q1 FY17
Q2Q3Q4
Q1 FY18
Q2Q3Q4
Q1 FY19
Q2Q3Q4
Q1 FY20
Q2Q3Q4
Q1 FY21
Q2Q3
ICP Count
Thous ands
Cos t to Serve ($/ICP)
ICP NUMBER & COST TO SERVE ($/ICP)
Electricity ICPs Active-OccupiedGas ICPs Activ e-Occupied
LPG Customer ConnectionsCost to Serve ($ 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
Q2Q3
GAS SALES VOLUME (PJ)
Quarterly Resi Sales VolumesQuarterly SME Sales Volumes
Quarterly C&I S ales Vol umesRolling 12-month Sales Volume (RHS)
-
1,000
2,000
3,000
4,000
5,000
6,000
7,000
-
200
400
600
800
1,000
1,200
Q1 FY17
Q2Q3Q4
Q1 FY18
Q2Q3Q4
Q1 FY19
Q2Q3Q4
Q1 FY20
Q2Q3Q4
Q1 FY21
Q2Q3
ELECTRICITY SALES VOLUMES (GWh)
Quarterly Resi Sales VolumesQuarterly SME Sales Volumes
Quarterly C&I S ales Vol umesRolling 12-month Sales Volume (RH S)
-
10,000
20,000
30,000
40,000
50,000
-
2,000
4,000
6,000
8,000
Q1 FY17
Q2Q3Q4
Q1 FY18
Q2Q3Q4
Q1 FY19
Q2Q3Q4
Q1 FY20
Q2Q3Q4
Q1 FY21
Q2Q3
LPG SALES VOLUMES (Tonnes)
Quarterly Bottled LPG Sales Volumes
Quarterly Bulk & SM E LPG Sales Volume
Rolling 12-month Sales Volume (RHS)

Appendix: Wholesale Segment
Genesis Energy Limited FY21 Q3 Performance Report 11.
0
20
40
60
80
100
120
140
AprMayJunJulAugSepOctNovDecJanFebMar
WAIKAREMOANA STORAGE vs LONG RUN AVERAGE (GWh)
Long Run Average Storage12-month Storag e
0
1000
2000
3000
4000
5000
AprMayJunJulAugSepOctNovDecJanFebMar
NEW ZEALAND DAILY STORAGE (ALL GENERATORS, GWh)
Long Run Average Storage12-month Storage
0
200
400
600
800
1000
AprMayJunJulAugSepOctNovDecJanFebMar
TEKAPO STORAGE vs LONG RUN AVERAGE (GWh)
Long Run Average Storage12-month Storage
0
1
2
3
4
5
6
AprMayJunJulAugSepOctNovDecJanFebMar
GWh/day
TONGARIRO GENERATION vs 20y AVERAGE
7 day rolling Average20 year Average

Appendix: Wholesale Segment
Genesis Energy Limited FY21 Q3 Performance Report 12.
0
500
1,000
1,500
2,000
2,500
Q2 2019Q3 2019Q4 2019Q1 2020Q2 2020Q3 2020Q4 2020Q1 2021Q2 2021Q3 2021
GENERATION BY POWER STATION (GWh)
South Island
Hydro
North Island
Hydro
Huntly Uni t 6
Huntly Uni ts 1 to
4 Coal
Huntly Uni ts 1 to
4 Gas
Huntly Uni t 5
0%
20%
40%
60%
80%
100%
$0
$20
$40
$60
$80
$100
Q1 FY17
Q2Q3Q4
Q1 FY18
Q2Q3Q4
Q1 FY19
Q2Q3Q4
Q1 FY20
Q2Q3Q4
Q1 FY21
Q2Q3
PORTFOLIO AND THERMAL FUEL COSTS
Wei ghted Averag e Fuel Cost - Thermal ($/MWh)
Wei ghted Averag e Fuel Cost - Portfolio ($/MWh)
Renewabl e Contribution to Total Generation (R HS, %)
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
20%
75%
80%
85%
90%
95%
100%
Forced Outage Factor (FOF) %
Equipment Availability Factor (EAF) %
PLANT PERFORMANCE
Monthly EAFMonthly FOF
$50
$70
$90
$110
$130
$150
$170
$190
$210
$230
$250
2018201920202021
ASX FUTURES SPOT PRICING ($/MWh)
1-Year Contract2-Year Contract3-Year Contract

Appendix: Kupe Segment
OIL PRICE AND FOREX RISK MANAGEMENT
Genesis Energy Limited FY21 Q3 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 FY17
Q2Q3Q4
Q1 FY18
Q2Q3Q4
Q1 FY19
Q2Q3Q4
Q1 FY20
Q2Q3Q4
Q1 FY21
Q2Q3
PJ
PJ
KUPE GAS SALE VOLUMES (GENESIS SHARE, PJ)
Quarterly Sales VolumeRolling 12 Months S ales Vol ume (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
Q2Q3
KUPE OIL PRODUCTION VOLUMES (GENESIS SHARE, Kbbl)
Quarterly Production VolumeRolling 12 Months Production Volume (RHS)
$0
$10
$20
$30
$40
$50
$60
$70
$80
AprMayJunJulAugSepOctNovDecJanFebMar
BRENT CRUDE OIL SPOT PRICE (USD/bbl)
12 mths to Dec 1912 mths to Dec 20
FORWARD RISK MANAGEMENT
Oil Price Hedges (USD/bbl)% HedgedAverage Oil Price
1-12 months53%$59.70
13-24 months19%$56.00
25-36 months0%$0.00
USD/NZD HedgesRate
1-12 months54%0.669
13-24 months44%0.642
25-36 months0%0.000

---

MARKET RELEASE
Date: 20 April 2021
NZX: GNE / ASX: GNE

FY21 Q3 PERFORMANACE REPORT

Genesis Energy today released to the NZX/ASX its FY21 Q3 Performance Report for the three
months ended 31 March 2021. The FY21 Q3 Performance Report is available from the Genesis
Energy page at www.nzx.com or https://www.genesisenergy.co.nz/investors
.

“Huntly Power Station is doing what it was built to do, providing critical back-up to ensure security
of supply in the wholesale electricity market.” Said Nigel Clark, Chief Operations Officer

CORPORATE

Genesis affirmed our commitment to empowering New Zealand's sustainable future in our
submission to the Climate Change Commission. Genesis called on the Government to develop a low-
carbon energy pathway across all sectors, rather than a single electricity target. We believe that
New Zealand's highly renewable electricity system is an important competitive advantage which can
be utilised to decarbonise transport and industry.

RETAIL


As a proud sponsor of Emirates Team New Zealand, we turned the energy created from fans wearing
our high-tech Supporter Shirts into 185,141 free hours of power for more than 600 Genesis-powered
schools. We also launched Power Shout hours, the latest enhancement to our most popular
customer reward, giving customers the freedom to use their free hours of power whenever they
like. Over the quarter, we gave our customers over 1.2 million Power Shout hours. This strong
customer engagement led to lower customer churn and improvements in interaction net promoter
score.

The re-platforming of our sales, service and billing technologies is proceeding as planned. Potential
suppliers have been shortlisted and a final decision is expected by the end of FY21.

WHOLESALE

The Waipipi wind farm achieved practical completion in March with all 31 turbines now
commissioned. The wind farm provided Genesis with 77 GWh of renewable generation at below our
thermal fuel cost. The Huntly Power Station continued to provide backup, with a third Rankine unit
returning to the market. A total of 270 GWh of energy was generated for our swaption partners.
Reduced hydro inflows in March, inconsistent gas availability and increased market making costs
made trading conditions challenging.

KUPE
The strategic review of our Kupe asset is continuing as planned. Genesis has received strong
interest from potential buyers for its stake in Kupe. We are working with a number of
interested parties whilst we continue to progress our strategic review and expect to update
the market by to the end of FY21.
The Inlet Compression Project is progressing well with all major components on-site. The
project remains on-track for completion in Q1 FY22
ENDS

For investor relations enquiries, please contact:
Tim McSweeney
Investor Relations Manager
M: 027 200 5548

For media enquiries, please contact:
Chris Mirams
GM Communications and Media
M: 027 246 1221


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