Notices of Financial Assistance

MARKET RELEASE
Date: 17 September 2021
NZX: GNE / ASX: GNE


NOTICES OF FINANCIAL ASSISTANCE
Attached are three notices advising of the provision of financial assistance in connection with
Genesis Energy’s:
(a) Employee Share Scheme in connection with the purchase of award shares relating to the FY19
Scheme offer;
(b) Employee Share Scheme in connection with the on-going administration costs under the FY22
Scheme offer; and
(c) Talent Retention Plan (TRP) in connection with the purchase of shares for participants in the
FY22 TRP offer, and to meet the on-going administration costs of the TRP for FY22.
ENDS



For investor relations enquiries, please contact:
Tim McSweeney
GM Investor Relations & Market Risk
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 $N3.2 billion during the 12 months ended 30 June 2021. More information can
be found at www.genesisenergy.co.nz

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NOTICE OF PROVISION OF FINANCIAL ASSISTANCE NOT EXCEEDING
5% OF SHAREHOLDERS’ FUNDS
(Section 80(1)(b) Companies Act 1993)



17 September 2021
Provision of Financial Assistance in connection with Genesis Energy Limited’s Talent Retention
Plan.
Under section 80 of the Companies Act 1993, Genesis Energy Limited (‘Genesis Energy’ or the
‘Company’) is required to make the following disclosure in respect of financial assistance
provided to certain employees of Genesis Energy in relation to the Talent Retention Plan (‘TRP’).
Genesis Energy TRP
The TRP was implemented by the Company in 2017. The intent of the TRP is to incentivise the
retention and commitment of the highest performing individuals identified as being critical to the
delivery of the Company’s strategy.
Under the TRP, employees identified by the Company as being critical to the delivery of the
Company strategy (Participants) may be invited into the TRP on an annual basis. Participants will
be awarded with shares in two tranches:
• 50% of the shares will vest after a two year period; and
• the remaining 50% will vest after a three year period,
provided the Participant remains employed at Genesis Energy at those vesting dates.
The shares will be funded by the Company and will be held on trust by the trustee of TRP until the
relevant vesting dates in accordance with the rules of the TRP and the trust deed entered into by
the trustee and the Company.
In relation to the FY22 TRP offer made for the FY20 financial year, the Directors of Genesis Energy
have authorised the Company to provide financial assistance for the acquisition of the Company’s
shares for the Participants and to meet the general operating costs for the TRP for FY22, up to an
amount of approximately $536,138 in aggregate.

The details of the financial assistance provided by Genesis Energy are as follows:



Shares in respect of which the financial assistance
was provided


147,629 ordinary shares in Genesis Energy Limited

Consideration paid for the shares

$3.3501 per share

Recipients of the financial assistance

Eligible employees of Genesis Energy who participate
in the TRP as a result of the FY22 TRP offer.

Nature and amount of the financial assistance

The financial assistance was given in the form of a
payment of $536,138 to cover
the costs for the
acquisition of the Company’s shares for the
Participants and to meet the general operating costs
for the TRP for FY22 (including administration costs
and brokerage to acquire shares on
behalf of
participants).

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NOTICE OF PROVISION OF FINANCIAL ASSISTANCE NOT EXCEEDING
5% OF SHAREHOLDERS’ FUNDS
(Section 80(1)(b) Companies Act 1993)



17 September 2021
Provision of Financial Assistance in connection with Genesis Energy Limited’s Employee Share
Scheme for on-going administration costs of the Scheme during the FY22 Scheme year
Under section 80 of the Companies Act 1993, Genesis Energy Limited (‘Genesis Energy’) is
required to make the following disclosure in respect of financial assistance provided to certain
employees of Genesis Energy in connection with the Genesis Energy Employee Share Scheme
(‘Scheme’).

Background

The Scheme was implemented by Genesis Energy in conjunction with the listing of Genesis Energy
on the NZX and ASX in April 2014 and subsequent to this, there have been eight Scheme offers in
FY15, FY16, FY17, FY18, FY19, FY20, FY21 and the offer for FY22.
The Genesis Energy Board considers that the Scheme increases the alignment of the interests of
employees with the interests of Genesis Energy. The Scheme also seeks to incentivise employees
to remain with Genesis Energy.

Under the Scheme:

• permanent full time and part time employees of Genesis Energy are able to acquire Genesis
Energy shares at market price through salary deductions;

• the shares are acquired on their behalf by the Scheme trustee, CRS Nominees Limited, and
held on trust by the trustee;

• for the FY19 and FY20 Scheme year offers, employees participated in the offers on the basis
that they would be awarded one Genesis Energy share (each an “Award Share”) for every
four shares acquired in the FY19 and FY20 Scheme years subject to meeting certain criteria,
including that they remain as an employee of Genesis until 1 September 2021 and 1
September 2022 respectively (being the end of the “Qualifying Period”) and may also be
awarded to an employee at Genesis Energy’s sole discretion prior to the end of the
Qualifying Period if a person ceases to be an employee due to death, illness, injury,
redundancy, disability or retirement; and

• Genesis Energy meets all the on-going administration costs of the Scheme.

Details of Financial Assistance

This notice is given in respect of the on-going administration costs in respect of the FY22 Scheme
year, which will constitute the giving of “financial assistance” in connection with the acquisition of
Genesis Energy shares for the purposes of the Companies Act 1993.

.2

The details of the financial assistance relating to the payment by Genesis Energy of the on-going
administration costs of the Scheme for the FY22 Scheme year are as follows:

Shares in respect of which the
financial assistance is provided
The financial assistance is given to fund on-going
administration costs of the Scheme, including
brokerage payable for shares acquired on behalf of
participants in the Scheme.
Brokerage paid for the shares This will be determined at the time of purchase.
Genesis Energy is not funding the payment of the
purchase price of the shares as those funds are
accumulated through salary deductions from
employees.
Recipients of the financial
assistance
Eligible employees of Genesis Energy who
participate in the Scheme during the FY22 Scheme
year.
Nature and amount of the
financial assistance
The financial assistance was given in the form of a
payment of $58,852.41 to the Trustee to cover the
on-going administration costs of the Scheme during
the FY22 Scheme year (including brokerage to
acquire shares on behalf of participants).

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23315058
NOTICE OF PROVISION OF FINANCIAL ASSISTANCE NOT EXCEEDING
5% OF SHAREHOLDERS’ FUNDS
(Section 80(1)(b) Companies Act 1993)



17 September 2021
Provision of Financial Assistance in connection with Genesis Energy Limited’s Employee Share
Scheme through purchase of award shares in connection with FY19 Scheme offer.
Under section 80 of the Companies Act 1993, Genesis Energy Limited (‘Genesis Energy’) is
required to make the following disclosure in respect of financial assistance provided to certain
employees of Genesis Energy in connection with the Genesis Energy Employee Share Scheme
(‘ Scheme’).
Background
The Scheme was implemented by Genesis Energy in conjunction with the listing of Genesis Energy
on the NZX and ASX in April 2014 and subsequent to this, there have been seven Scheme offers in
FY15, FY16, FY17, FY18, FY19, FY20 and FY21. A Scheme offer for FY22 will take place in October
2021.
The Genesis Energy Board considers that the Scheme increases the alignment of the interests of
employees with the interests of Genesis Energy. The Scheme also seeks to incentivise employees
to remain with Genesis Energy.

Under the Scheme:

• permanent full time and part time employees of Genesis Energy are able to acquire Genesis
Energy shares at market price through salary deductions;

• shares in Genesis Energy are acquired on behalf of participants by the Scheme trustee, CRS
Nominees Limited, and held on trust by the trustee;

• for the FY19 Scheme offer (which was made in August 2018), employees who accepted and
participated in the offer did so on the basis that they would be awarded one Genesis Energy
share (each an “Award Share”) for every four shares acquired in the FY19 Scheme year
subject to meeting certain criteria, including that they remain as an employee of Genesis
until 1 September 2021 (being the end of the “Qualifying Period”);

• Award Shares are purchased by Genesis Energy at the conclusion of the Qualifying Period
but may also be awarded to an employee at Genesis Energy’s sole discretion prior to the
end of the Qualifying Period if a person ceases to be an employee due to death, illness,
injury, redundancy, disability or retirement.
Details of Financial Assistance

This notice is given in respect of the purchase and payment by Genesis Energy of the costs
associated with the acquisition of Award Shares in respect of those employees who participated
in the FY19 Scheme offer and who remain employees of Genesis Energy as at 1 September 2021
and thereby qualify to receive Award Shares in accordance with the terms of the FY19 Scheme

.2

offer. This will constitute the giving of “financial assistance” in connection with the acquisition of
Genesis Energy shares for the purposes of the Companies Act 1993.

The details of the financial assistance relating to the payment by Genesis Energy of the costs of
acquiring award shares in respect of the FY19 Scheme offer are as follows:

Shares in respect of which the financial assistance
was provided

56,080 ordinary shares in Genesis Energy Limited for
award shares acquired under the FY19 Scheme offer.

Consideration paid for the shares $3.42 per share for award shares acquired under the
FY19 Scheme offer.

Recipients of the financial assistance

Eligible employees of Genesis Energy who participate
in the Scheme as a result of the FY19 Scheme offer.

Nature and amount of the financial assistance

The financial assistance was given in the form of a
payment of $191,793.60 to the Trustee
for the
purposes of enabling the Trustee to purchase Genesis
Energy shares for the participants entitled to award
shares under the Scheme FY19 offer.