Governance Roadshow Presentation

Governance Roadshow
June 2024
Second line can be in orange
Barbara Chapman CNZM– Chairman
Catherine Drayton – Director

Disclaimer
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Net-Zero Update 4.
Net Zero 2040
2030 SBT
2025 SBT
36% scope 1 + 2
reduction from 2020
base
HORIZON 2HORIZON 3
FY35FY28To d a y
Gen35 Transition Outlook
Transition our gas
value
Review of electrification
options
Connected devices
Energy as a Service
options
5,500 GWh New
Renewable Energy
by FY35
2,650 GWh New
Renewable
Energy
by FY28
500 MW of solar
developed with FRV
PPAs to deliver renewable energy
Ongoing
future options
and contracts
Wind developments
Gas flexibility
Emerging
technologies,
additional
batteries
EV Sync
95% Renewable
8,300 GWh
Renewable electricity in
portfolio - Hydro, solar, wind,
PPAs by 2035.
Electrification
Championing
electric lifestyles
Flexibility
1,400 MW
Flexible assets in Huntly
portfolio (e.g. biomass, gas
flex and batteries)
FY25 Biomass supplier
agreements + logistics
FID for first 100MW utility-scale
battery
+ load shifting
Biomass > coal by FY28
FY30 - 1.1 billion
capital deployed into
new renewables
Up to 400 MW
battery at Huntly by FY35
Products to
switch gas use to
electricity
Lauriston Solar Farm
generating

ELECTRIFICATION
Grow value by growing demand from
our customers as they electrify with
particular focus on heat and
transport for homes and businesses.
Substantial restructure and core
retailopexreduction.
Growing Shareholder Value by leveraging Genesis' Strengths
Retail business​
550kcustomersacross three brands
(140k dual fuel customers)
Strongbrand equity
OUR
STRENGTHS
OUR
PLAN
Flexible Assets
Huntly Portfolio providing a flexible
range of fuels and generation for
baseload, firming and peaking.
Capital program of c$1.1b, new
development team in place with skills in
BESS, Solar, Wind.
Renewables Growth
Large customer book providing solid
long-term revenues to anchor
investment to grow new renewable
generation to 8,300 GWh delivered
through PPA, joint ventures with PPA,
and on-balance sheet investment.
1,400 MW of firming generation,
including up to 400 MW X 2h BESS
(stage 1 FID targeting Q3 CY24).
New Huntly Firming Options offered
to market.
RENEWABLESFLEXIBILITY

ELECTRIFICATION
Board Focus on Risk and Opportunities
Retail business​
Flexible Assets
Genesis must continue to build renewable
development capability to succeed in new
areas of business.
Renewables Generation
Gas market constraints restricting
ability of flexible fuel.
Uncertainty in long term wholesale
market pricing and volatility.
Significant change to the business
implementing a major technology
investment.
Technology investment to update
legacy systems. Will enable lower
costs, efficient processes and
improved product offerings.
Huntly site ideally located close to
load with potential for 800MW of
BESS development.
Partnership with major international
solar developer (FRV Australia).
Opportunity to lead solar
development in New Zealand.
ELECTRIFICATIONRENEWABLESFLEXIBILITY
OUR
OPPORTUNITES
OUR
RISKS

Planning for three horizons of transition
To succeed long-term, near-term focus is on getting future-fit
‘Getting Future Fit’, focused
on sweeping our own front
yard at a group and business
unit level.
‘Accelerated Transitions’,
focused on Customer,
Company, and Country
activating Gen 35 at a business
unit level.
‘The Future State’,
moving past the transition
and into the next generation of
Genesis.
Horizon 1
FY24
Horizon 2
FY25-28​
Horizon 3
FY29-35​
Retail Operating Model Review
Solar investment joint ventures
Battery investment
Renewables investment on balance sheetBiomass option refined
Technology Investment

GoalTarget
FY28Goal
Grow Profitability
EBITDAFGroup EBITDAF mid $500 millions
Debt/EBITDAFRatio less than or equal to 2.5
Operating ExpenditureOperating Expenditure ~ $361 million.
Retail and
Technology
Brand preferenceNumber 1 brand equity in energy market
Total Retail and Technology Operating Expenditure
1
~ $153 million
Delivery of core billing platformImplementation of billing platform upgrade across all brands
and sales channels by FY27.
Huntly
Battery DevelopmentUp to 200 MWh of battery operational onsite at Huntly.
BiomassBiomass supply secured and commercial arrangements in place.
Biomass use > coal use.
Renewables
Solar Development~ 500 MW of solar developed and operational in JV structure
Total capital deployed at ROIC > WACCOn track for totaldeployment of $1.1b (Genesis share) by FY30
Net-Zero
Net-Zero by 20402040 Net-Zero targets submitted and approved by SBTi
Horizon 2 – 11 Deliverables
1.Excluding non-recurring technology investment.
Unless otherwise stated, all $ are nominal. Numbers shown represent base case estimates and are indicative only

Compelling investor rationale
To ...
From...
Earnings growth and strongyield
Limited growth outlook
and high dividend pay out
Expanding OPEX and tech project delays
Leading the decarbonisation journeyESG discount applied by investors
OPEX reduction, clear pathway on tech projects
Low capital deployment into renewablesPlan to deploy $1.1b at ROIC > WACC

10.
Executive Leadership Team
Julie Amey
Chief Financial Officer
BMS, CA
Joins on 4 November 2024 and
brings over 30 years of finance
experience, primarily in the
energy sector.
TraceyHickman
Chief Wholesale Officer
MA (Hons), AMP (Harvard)
Over 28 years energy sector
experience, including ten years in
executive roles in generation,
trading, fuels and retail.
MatthewOsborne
Chief Corporate
Affairs Officer
BCom, LLB
Corporate counsel/executive
with over 20 years' experience
across legal, regulatory,
sustainability, communications
and governance.
Malcolm Johns
Chief Executive
BMS
Joined as Chief Executive in
March 2023. Previously Chief
Executive of Christchurch Airport.
Has held governance roles in
transport, infrastructure and
tourism.
Claire Walker
Chief People Officer
BA, Dip Business Admin
20 years' experience in human
resource management. Deputy
Chair of the Sustainable
Business Council.
Edward Hyde
Chief Transformation &
Technology Officer
Stephen England-Hall
Chief Retail Officer
MBA (Cambridge)
Over 20 years’ experience,
including 10 as chief executive
across customer strategy,
digital transformation and
industry disruption.
BSc
Experienced senior executive
withover 20 years' experience
in commercial, technology,
andtelecommunications
related roles.

11.
Fuel Market Update
•The New Zealand wholesale gas market is experiencing a
significant decline in production across major fields.
•Lowergasfor electricity generation has meantmore coal
through the Huntly Rankine units. Lower hydro inflows coupled
with increasedelectricity demand across New Zealand has
added to Huntly coal burn.
•Genesis will maintain an operational solid fuel stockpile at
Huntly of approximately 350 kt, consisting of biomass and coal.
Anything above this level will be driven by the market, via
Huntly Firming Options.
Kupe Update
•Development of the Kupe KS-9 well concluded in May 2024,
with work unable to produce sufficient flow to sustain
operation.
•Maximum gas production is now 47TJ/day, further intervention
may be considered. Assessment of reserves is underway and
expected to be completed in June.
Source: Enerlytica

12.
Hinerangi Raumati-Tu’ua
MNZM
Director
BMS, MMS, FCA
Governance experience
across infrastructure,
fisheries and several iwi
commercial entities.
Genesis Energy Board of Directors
Tim Miles
HR & Rem. Chair
BA
Experience in transforming
capital intensive business,
underpinned by large scale
developments globally and in
New Zealand.
James Moulder
Director
BA, BCA, GMP (Harvard)
Governance and executive
experience across electricity
and carbon industries,
including markets and
generation development
Catherine Drayton
ARC Chair
CFInstD, BCom, LLB, FCA
Governance experience and a
former senior partner at PwC,
specialising in mergers and
acquisitions.
Warwick Hunt MNZM
Director
BAcc(Hons), FCA, FKC
Experience of large-scale
financial transformation, strategy
development and execution.
International financial markets
experience.
Paul Zealand
Director
BSc Mech. Eng (Hons),
MBA
Extensive international
experience in the oil and
gas sector, health and
safety and environmental
management.
Barbara Chapman CNZM
Chairman
BCom, CFInstD
Appointed Chairman in October
2018.Brings a strong customer,
people and digital transformation
lens to Genesis, and has extensive
governance experience

13.
Board Skills Matrix
Matrix as at30 June 2023. Currently under review for release in FY24 Annual Report.

14.
Board Structure and Policies aligned with Best Practice
• Policies and charters are
formallyreviewed by the Board within
the third year after the last review, to
ensure they remain 'fit-for-purpose’
• Policies benchmarkedagainst third
party companies as part of the review
process
• Committee performance reviewed
annually against responsibilities in
charters
• Board and Committees fully
compliant with NZX Governance
Code recommendations.

15.
Executive remuneration linked to Strategy, Performance
and Sustainability
Genesis' remuneration policy is underpinned by three key
objectives:
•Create a sense of longer‐term commitmentin the
relationship between the Company, key employees,
and shareholders.
•Be easy to understand, communicate, and
transparent for all stakeholders.
•Reward, retain and motivate high performers.
In FY23 the Company introduced a sustainability metric
into the Executive Long-Term Incentive (LTI) scheme.
This will vest depending on achievement of the Science
Based Target and represents 20% of the LTI.
As at30 June 2023

16.
Directors’ Fees
•Genesis places significant value and
importance onattractingand retaining
Directors of the right calibre and skill set
that companies of our complexity require.
•Directors’ fees were last approved by
shareholders at the Company’s 2021
Annual Shareholder Meeting.
Current Director fees

18.
Environment, Social & Governance Reporting
The following disclosures were made for the FY23 year:
•FY23 Climate-related Disclosure and GHG Inventory. Outlines climate-related financial
risks and opportunities under different climate scenarios. Includes full greenhouse gas
emissions inventory.
The report has been prepared using the Task Force on Climate-related Financial Disclosures
framework (TCFD). Our FY24 Climate Statement will align with the XRB Aotearoa New
Zealand Climate Standards.
•FY23 Modern Slavery Statement. Outlines the risks of modern slavery in Genesis’
operations and domestic and international supply chains and actions to address those risks.
•FY23 Sustainable Finance Report. Performance against the commitments Genesis has
made for our Sustainability Linked Loans, and Green Bond eligible assets.
•FY23 ESG datasheet & GRI Index. Summarises our progress on key sustainability
indicators over a four-year period. Prepared using global frameworks and standards such as
the GRI (Global Reporting Initiative).

19.
Climate Related Risks and Opportunities

Further questions please contact:
Tim McSweeney – GM Investor Relations
timothy.mcsweeney@genesisenergy.co.nz
M: 027 200 5548