FY25 Q2 Performance Report

FY25 Q2
Performance Report
24 January 2025

FY25 Q2 Performance Highlights
Retail
1,433 GWh
Total Electricity Sales
WholesaleKupe
2
28 GWh increase on pcp
1
516,312
Total Customers
4.7% increase on pcp
$25/GJ
Gas Netback
48 GWh
Rankine Generation
425 GWh decrease on pcp
145 kt CO2
Generation Emissions
Coal Stockpile
286 kt increase on Q1 FY25
1.Pcp refers to Q2 F24 unless otherwise stated. Note: Ecotricity 100% consolidation occurred on 1 December 2024 and is not included in pcp
2.Refers to Genesis’ 46% share.
Genesis Energy Limited FY25 Q2 Performance Report 2.
1.5 PJ
0.6 PJ increase on pcp
6.6 kt
2.8 kt increase on pcp
518 kt
Gas Flexibility
Kupe LPG Sales
Kupe Gas Sales
64.6% decrease on pcp
Due diligence in
progress on storage
options
43.1% increase on pcp

Genesis Energy Limited FY25 Q2 Performance Report 3.
Performance highlights
1
Portfolio flexibility drove performance
Gen35 strategy update
•Customer:Completed obligation to purchase remaining 30% ownership of Ecotricity on 1 December.
•Renewables: Lauriston achieved first generation on 11 November, ahead of the December target.
Commissioning activities continue, with final commissioning expected to occur in Q3 FY25.
•Flexibility: Testing and commissioning activities continue at the Tariki-5A well. Due diligenceunderway for
potentialgas storage options.
Operational update
•Continued to progress flexible generation strategy:Total generation down 205 GWh, with renewable
generation in line with pcp and thermal generation down 42%,maximising margin leverage from flexible
generation options against wholesale market dynamics. Generation carbon emissions down 65% vs pcp.
•Energy storage increased during the period with Operational Coal Stockpile of 518kt (representing ~1
TWh of energy) and lakes averaging 118% of capacity (representing 0.4 TWh of energy).
•Security Products
2
coal stockpile of55kt (against contracted HFO capacity of 85 MW).
•Retail customer growth of 4.7% vs pcp supported by acquisition of Ecotricity and growth of Frank.
•Gas netback up 43.1% vs pcp, as the market reflected higher wholesale prices.
•Methanex gas purchase agreement concluded on 31 October 2024.
•Kupe production interrupted in December 2024 from a 16-day unplanned de-ethaniser plant outage, with
full production resumed on28
th
December.
CUSTOMER
c6TWh
RENEWABLES
c3TWh Hydro
c1TWh PPA
FLEXIBILITY
c1,200MW
Gen35
1
All prior corresponding period (pcp) excludes Ecotricity operating performance and metrics. Refer table on page 7 for applicable metrics of Ecotricity on a 100% basis.
2
Refers to Huntly Firming Option (HFO) and Market Security Options (MSO). Stored energy refers to virtual stockpile volumes ordered by counterparties and is expressed in kilotonnes of coal equivalents as at period end.

Q2 FY25Q2 FY24VarianceYTD FY25YTD FY24
ELECTRICITYVolume
Rate per
unit
$m Volume
Rate per
unit
$m Volume
Rate per
unit
$mVolume
Rate per
unit
$m Volume
Rate per
unit
$m
Retail Resi Electricity648 GWh$316/MWh204.9 678 GWh$289/MWh196.0 (30)GWh$27/MWh8.9 1,618 GWh$295/MWh477.4 1,628 GWh$281/MWh457.5
Retail SME Electricity260 GWh$274/MWh71.4 254 GWh$258/MWh65.6 6 GWh$16/MWh5.8 530 GWh$270/MWh143.1 514 GWh$254/MWh130.5
Retail C&I Electricity455 GWh$161/MWh73.0 473 GWh$164/MWh77.9 (19)GWh-$4/MWh(4.9)900 GWh$199/MWh178.8 905 GWh$190/MWh171.7
Ecotricity Electricity70 GWh$197/MWh13.8 - GWh$/MWh- 70 GWh$197/MWh13.8 70 GWh$197/MWh13.8 - GWh$/MWh-
Total Retail Sales1,433 GWh$253/MWh363.1 1,405 GWh$242/MWh339.5 28 GWh$12/MWh23.6 3,119 GWh$261/MWh813.1 3,048 GWh$249/MWh759.7
Wholesale Electricity Sales1,004 GWh$49/MWh49.0 1,209 GWh$153/MWh184.9 (205)GWh-$104/MWh(135.9)2,975 GWh$241/MWh715.8 2,884 GWh$140/MWh403.9
Generation Costs - Thermal286 GWh$159/MWh45.3 494 GWh$125/MWh61.8 (208)GWh$33/MWh(16.5)1,567 GWh$142/MWh222.7 1,338 GWh$120/MWh161.0
Generation Costs - Renewable719 GWh-- 715 GWh-- 3 GWh-- 1,408 GWh-- 1,545 GWh--
Generation Costs - Total1,004 GWh$45/MWh45.3 1,209 GWh$51/MWh61.8 (205)GWh-$6/MWh(16.5)2,975 GWh$75/MWh222.7 2,884 GWh$56/MWh161.0
Retail Purchases
Retail Purchases1,501 GWh$43/MWh65.1 1,476 GWh$149/MWh219.2 25 GWh-$105/MWh(154.2)3,279 GWh$196/MWh642.3 3,201 GWh$139/MWh445.7
Transmission and Distribution Costs149.8 130.0 19.9 321.4 282.1
GASVolume
Rate per
unit
$m Volume
Rate per
unit
$m Volume
Rate per
unit
$m Volume
Rate per
unit
$m Volume
Rate per
unit
$m
Retail Resi Gas0.5 PJ$61.1/GJ27.8 0.5 PJ$49.8/GJ26.3 (0.1) PJ$11.4/GJ1.4 1.4 PJ$48.8/GJ67.1 1.5 PJ$42.1/GJ62.2
Retail SME Gas0.3 PJ$36.4/GJ12.3 0.3 PJ$29.7/GJ9.8 0.0 PJ$6.8/GJ2.5 0.9 PJ$31.6/GJ27.3 0.8 PJ$28.3/GJ22.1
Retail C&I Gas0.7 PJ$34.5/GJ23.8 0.7 PJ$22.9/GJ16.4 (0.0) PJ$11.6/GJ7.4 1.7 PJ$28.5/GJ47.7 1.7 PJ$21.1/GJ35.7
Total Retail Sales1.5 PJ$43.1/GJ63.9 1.6 PJ$33.4/GJ52.5 (0.1) PJ$9.7/GJ11.4 3.9 PJ$36.3/GJ142.0 3.9 PJ$30.4/GJ120.0
Wholesale Sales1.5 PJ$8.1/GJ12.4 0.0 PJ$14.1/GJ0.5 1.5 PJ-$6.0/GJ11.9 1.6 PJ$8.1/GJ12.6 0.1 PJ$10.1/GJ0.9
Cost of Gas3.0 PJ$12.4/GJ37.5 1.6 PJ$8.5/GJ13.7 1.4 PJ$3.9/GJ23.8 5.5 PJ$13.5/GJ73.9 4.0 PJ$8.7/GJ35.3
Transmission and Distribution Costs26.0 21.8 4.2 55.8 46.1
LPGVolume
Rate per
unit
$m Volume
Rate per
unit
$m Volume
Rate per
unit
$m Volume
Rate per
unit
$m Volume
Rate per
unit
$m
Bottled LPG Sales4.3 kt$3,512/t15.2 4.6 kt$3,147/t14.5 -0.3 kt$365/t0.7 10.4 kt$3,412/t35.6 10.6 kt$3,049/t32.3
SME & Other Bulk LPG Sales6.0 kt$1,922/t11.5 5.9 kt$1,769/t10.4 0.1 kt$153/t1.1 13.7 kt$1,918/t26.2 12.8 kt$1,757/t22.5
Total Retail Sales10.3 kt$2,590/t26.7 10.5 kt$2,376/t24.9 -0.2 kt$214/t1.8 24.1 kt$2,565/t61.8 23.4 kt$2,341/t54.9
Wholesale LPG Sales0.9 kt$1,028/t0.9 0.8 kt$1,072/t0.8 0.1 kt-$44/t0.1 1.9 kt$1,046/t2.0 1.6 kt$978/t1.5
LPG Cost11.2 kt$1,018/t11.4 11.2 kt$1,129/t12.7 -0.1 kt-$110/t(1.3)26.0 kt$1,014/t26.4 25.0 kt$1,062/t26.6
KUPEVolume
Rate per
unit
$m Volume
Rate per
unit
$m Volume
Rate per
unit
$m Volume
Rate per
unit
$m Volume
Rate per
unit
$m
Oil Sales44 Kbbl$104.7/bbl4.6 69 Kbbl$90.9/bbl6.2 (24.9)Kbbl$13.8/bbl(1.7)119 Kbbl$108.4/bbl12.9 69 Kbbl$88.8/bbl6.1
Gas Sales1.5 PJ$8.1/GJ11.8 0.8 PJ$8.3/GJ6.8 0.6 PJ-$0.2/GJ5.1 3.3 PJ$8.3/GJ27.4 3.0 PJ$7.8/GJ23.3
LPG Sales6.6 kt$557/t3.7 3.8 kt$544/t2.1 2.8 Kt$12/t1.6 14.6 kt$546/t8.0 12.6 kt$511/t6.4
Genesis Energy Limited FY25 Q2 Performance Report 4.
Operating Performance
1
The cost of the Gas purchased under the Methanex offtake agreement, which expired on 31 October 2024, is apportioned across Electricity Thermal Generation costs and
Cost of Gas
All prices and volumes in this report are unaudited and subject to change. Reported numbers have been rounded and might not appear to add or multiply

RETAIL SEGMENTQ2 FY25Q2 FY24% ChangeVar.Q1 FY25% ChangeVar.YTD FY25YTD FY24
RETAIL
Brand Net Promoter Score
1
252025.0% 51838.9% 7
Interaction Net Promoter Score
1
5656- 0519.8% 5
Gross Customer Churn
2
(3 month rolling average, %)19.8% 20.1% (1.5%)(0.3%)21.6% (8.0%)(1.7%)
Net Customer Churn
2
(3 month rolling average, %)12.2% 12.7% (3.9%)(0.5%)13.7% (10.8%)(1.5%)
Electricity Netback ($/MWh)$134.72 $137.68 (2.1%)($2.96)$158.05 (14.8%)($23.32)$147.33 $145.32
Gas Netback ($/GJ)$25.08 $17.52 43.1%$7.56 $19.24 30.4%$5.84 $21.45 $17.20
LPG Netback ($/t)$1,444.20 $1,355.62 6.5%$88.58 $1,633.38 (11.6%)($189.18)$1,552.61 $1,354.41
CUSTOMER NUMBERS
Customers > 1 Fuel148,240 148,915 (0.5%)(675)151,500 (2.2%)(3,260)148,240 148,915
Electricity Only Customers329,558 300,834 9.5%28,724 307,932 7.0%21,626 329,558 300,834
Gas Only Customers10,131 11,405 (11.2%)(1,274)10,474 (3.3%)(343)10,131 11,405
LPG Only Customers28,383 32,061 (11.5%)(3,678)28,591 (0.7%)(208)28,383 32,061
Total Customers516,312 493,215 4.7%23,097 498,497 3.6%17,815 516,312 493,215
Electricity ICPs Active-Occupied554,178 510,696 8.5%43,482 522,911 6.0%31,267 554,178 510,696
Gas ICPs Active-Occupied107,718 110,341 (2.4%)(2,623)109,892 (2.0%)(2,174)107,718 110,341
LPG Customer Connections (#) 88,998 92,055 (3.3%)(3,057)90,861 (2.1%)(1,863)88,998 92,055
Total ICPs750,894 713,092 5.3%37,802 723,664 3.8%27,230 750,894 713,092
WHOLESALE SEGMENTQ2 FY25Q2 FY24% ChangeVar.Q1 FY25% ChangeVar.YTD FY25YTD FY24
GENERATION
Generation Emissions (ktCO2)145 408 (64.6%)(264)984 (85.3%)(840)1,129 989
Generation Carbon Intensity (tCO2/GWh)144 338 (57.3%)(194)499 (71.1%)(355)379 343
Rankine Output (GWh)48 474 (89.8%)(425)763 (93.7%)(715)812 1,298
Rankines Fueled by Coal (%)21% 49% (58.5%)(29%)91% (77.5%)(71%)86% 33%
Total Gas Purchases (PJ)5.3 4.4 22.1%1.0 7.1 (24.7%)(1.8)12.4 13.8
Total Coal Purchases (PJ)6.9 - N/A 6.9 7.8 (11.6%)(0.9)14.7 -
Electricity CFD Purchases - Wholesale (GWh)506 500 1.1% 5 294 71.9% 211 800 1,032
Electricity CFD Purchase Price - Wholesale ($/MWh)$125 $119 5.2%$6 $180 (30.8%)($56)$145 $133
Electricity CFD Sales - Wholesale (GWh)327 336 (2.9%)(10)427 (23.5%)(100)753 867
Electricity CFD Sale Price - Wholesale ($/MWh)$145 $126 15.3%$19 $197 (26.1%)($51)$174 $135
Gas Used In Internal Generation (PJ)2.4 2.9 (15.6%)(0.4)4.7 (48.7%)(2.3)7.2 9.8
Weighted Average Gas Burn Cost ($/GJ)$16.1 $10.0 60.1% $6.0 $16.2 (0.8%)($0.1)$16.1 $9.5
Coal Used In Internal Generation (PJ) 0.14 2.6 (94.7%)(2.5)7.5 (98.2%)(7.3)7.6 4.7
Weighted Average Coal Burn Cost ($/GJ)$11.2 $8.0 41.4% $3.3 $9.3 21.0% $2.0 $9.3 $8.0
Operational Coal Stockpile - closing balance (kilotonnes)518 726 (28.7%)(208)231 123.8% 286
Security Products Stockpile – coal equivalent energy secured (kilotonnes)55 5 900.2% 49 11 376.0% 43
POWER PURCHASE AGREEMENTS (Wind/Solar)
Electricity (GWh)129 128 1.1% 1 123 4.9% 6 252 258
Average Price Received for Generation - GWAP ($/MWh)$23.74 $124.43 (80.9%)($100.70)$228.96 (89.6%)($205.23)$123.90 $113.22
All prices and volumes in this report are unaudited and subject to change. Reported numbers have been rounded and might not appear to add or multiply.
1
Genesis brand only
2
Excludes Ecotricity
Operating Metrics
Genesis Energy Limited FY25 Q2 Performance Report 5.

1,298
1,297
1,263
1,209
1,196
1,189
32
33
41
75
93
80
1,289
1,332
1,329
1,331
1,304
1,284
1,289
1,269
1,000
1,050
1,100
1,150
1,200
1,250
1,300
1,350
FY24 Q1Q2Q3Q4FY25 Q1Q2
FTE Split
Core FTEDigital Projects FTEEcotricity FTE
Total FTETotal Genesis FTE
KUPE SEGMENTQ2 FY25Q2 FY24% ChangeVar.Q1 FY25% ChangeVar.YTD FY25YTD FY24
KUPE
Oil Production (kbbl)32 19 69.4%13 39 (19.7%)(8)71 68
Average Brent Crude Oil (USD/bbl)$74.69 $85.17 (12.3%)($10.48)$80.18 (6.9%)($5.49)$77.44 $86.10
LPG Production (kt)6.5 3.4 91.0%3.1 8.0 (19.1%)(1.5)14.5 12.6
LPG Production Yield (t/TJ)4.4 4.1 6.5%0.3 4.4 (0.0%)(0.0)4.4 4.2
OTHERQ2 FY25Q2 FY24% ChangeVar.Q1 FY25% ChangeVar.YTD FY25YTD FY24
CORPORATE
Employees FTE1,211 1,269 (4.6%)(58)1,229 (1.5%)(18)1,211 1,269
Contractors FTE58 62 (6.2%)(4)60 (2.9%)(2)58 62
Ecotricity FTE63 - N/A63 - N/A63 63 -
Total FTE1,332 1,331 0.1%1 1,289 3.4%43 1,332 1,331
Total Recordable Injuries8 14 (42.9%)(6)17 (52.9%)(9)25 29
All prices and volumes in this report are unaudited and subject to change. Reported numbers have been rounded and might not appear to add or multiply.
Operating Metrics
Genesis Energy Limited FY25 Q2 Performance Report 6.

30,000
40,000
50,000
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
FY22
Q1
Q2Q3Q4FY23
Q1
Q2Q3Q4FY24
Q1
Q2Q3Q4FY25
Q1
Q2
LPG Sales Volume (Tonnes)
Quarterly Bottled LPG Sales VolumesQuarterly Bulk & SME LPG Sales Volume
Rolling 12-month Sales Volume (RHS)
6.0
6.5
7.0
7.5
8.0
8.5
9.0
0.0
0.5
1.0
1.5
2.0
2.5
3.0
FY22
Q1
Q2Q3Q4FY23
Q1
Q2Q3Q4FY24
Q1
Q2Q3Q4FY25
Q1
Q2
Gas Sales Volume (PJ)
Quarterly Resi Sales VolumesQuarterly SME Sales Volumes
Quarterly C&I Sales VolumesRolling 12-month Sales Volume (RHS)
Appendix: Retail segment
Genesis Energy Limited FY25 Q2 Performance Report 7.
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2
Electricity Sales Volume (GWh)
Quarterly Resi Sales VolumesQuarterly SME Sales Volumes
Quarterly C&I Sales VolumesQuarterly Ecotricity Sales Volumes
Rolling 12-month Sales Volume (RHS)
Ecotricity (100%) operating performance and metrics from 1 December 2025
Volume
(MWh)
$m
Electricity Sales70,01813.8
Retail Purchases6.0
T&D Costs5.3
RETAIL SEGMENT
Customer numbers (Electricity only) (#)19,745
Electricity ICP Active-Occupied (#)34,144
FTE (#)63
Q2 FY25 (December only)
ELECTRICITY
Q2 FY25 (December only)
Rate per unit
$197
$85

0
50
100
150
200
250
OctNovDecJanFebMarAprMayJunJulAugSepOctNovDec
Waikaremoana Storage vs. Long Run Average (GWh)
Long Run Average Storage12 Month Storage
0
100
200
300
400
500
600
700
800
900
OctNovDecJanFebMarAprMayJunJulAugSepOctNovDec
Tekapo Storage vs. Long Run Average (GWh)
Long Run Average Storage12 Month Storage
0
1,000
2,000
3,000
4,000
5,000
OctNovDecJanFebMarAprMayJunJulAugSepOctNovDec
New Zealand Daily Storage (All Generators, GWh)
Long Run Average Storage12 Month Storage
0
1
2
3
4
5
6
OctNovDecJanFebMarAprMayJunJulAugSepOctNovDecJan
Tongariro Generation (GWh/Day)
20 Year Average7 Day Rolling Average
Appendix: Wholesale segment
Genesis Energy Limited FY25 Q2 Performance Report 8.

0
500
1,000
1,500
2,000
2,500
3,000
Q4FY21
Q1
Q2Q3Q4FY22
Q1
Q2Q3Q4FY23
Q1
Q2Q3Q4FY24
Q1
Q2Q3Q4FY25
Q1
Q2
Generation Portfolio (GWh)
North Island HydroSouth Island HydroHaunui WindPPAs
Huntly Units 1 to 4 GasHuntly Units 1 to 4 CoalHuntly Unit 6Huntly Unit 5
0%
20%
40%
60%
80%
100%
$0
$20
$40
$60
$80
$100
$120
$140
$160
$180
FY23 Q1Q2Q3Q4FY24 Q1Q2Q3Q4FY25 Q1Q2
Portfolio & Thermal Fuel Costs
Weighted Average Fuel Cost - Thermal ($/MWh)
Weighted Average Fuel Cost - Portfolio ($/MWh)
Renewable Contribution to Total Generation (%)
$50
$100
$150
$200
$250
$300
$350
Jun-22Sep-22Dec-22Mar-23Jun-23Sep-23Dec-23Mar-24Jun-24Sep-24Dec-24
ASX Futures Spot Pricing ($/MWh)
1-Year Contract2-Year Contract3-Year Contract
Appendix: Wholesale segment
Genesis Energy Limited FY25 Q2 Performance Report 9.

$50
$60
$70
$80
$90
$100
JanFebMarAprMayJunJulAugSepOctNovDec
Brent Crude Oil Spot Price (USD/bbl)
12 Months to Dec 2312 Months to Dec 24
0
50
100
150
200
250
300
350
0
20
40
60
80
100
120
FY22
Q1
Q2Q3Q4FY23
Q1
Q2Q3Q4FY24
Q1
Q2Q3Q4FY25
Q1
Q2
Kupe Oil Production Volume (Genesis Share, kbbl)
Quarterly Production VolumeRolling 12 Month Production Volume (RHS)
0
2
4
6
8
10
12
0
1
1
2
2
3
3
4
FY22
Q1
Q2Q3Q4FY23
Q1
Q2Q3Q4FY24
Q1
Q2Q3Q4FY25
Q1
Q2
Kupe Gas Sales Volume (Genesis Share, PJ)
Quarterly Sales VolumeRolling 12 Months Sales Volume (RHS)
Appendix: Kupe segment
Genesis Energy Limited FY25 Q2 Performance Report 10.

Glossary – Performance
Electricity
Retail Sales Residential
Sales of electricity to residential customers
Retail Sales SMESales of electricity to small business customers
Retail Sales C&ISales of electricity to commercial and industrial customers
W holesale SalesSale of generated electricity onto the spot market, excluding PPA settlements and ancillary revenue
Generation Costs Direct generation costs, inclusive of fuels and carbon
Retail PurchasesPurchases of electricity on spot market for retail customers
Transmission and Distribution CostsTotal electricity transmission and distribution costs, connection charges, electricity market levies and meter leasing
Gas
Retail Sales ResidentialSales of gas to residential customers
Retail Sales SMESales of gas to small business customers
Retail Sales C&ISales of gas to commercial and industrial customers
W holesale SalesSales of gas to wholesale customers
Gas CostPurchase of gas for sale (excludes gas used in electricity generation)
Transmission and Distribution CostsTotal gas transmission and distribution costs, gas levies and meter leasing
LPG
Bottled LPG SalesRepresents 45kg LPG bottle sales
SME & Other Bulk LPG salesRepresents SME and other bulk and third party distributors
Wholesale LPG SalesSales of LPG to wholesale customers
LPG CostPurchase of LPG for sale
Kupe
Oil SalesSale of crude oil
Gas SalesSale of gas
LPG SalesSale of LPG
Genesis Energy Limited FY25 Q2 Performance Report 11.

Glossary – Operational metrics
Retail
BrandNetPromoterScoreBasedonsurveyquestion “Howlikelywouldyou betorecommend Genesis/ Frank Energyto yourfriendsorfamily?” Calculated on 3 month rolling basis.
InteractionNetPromoterScore
Based on survey question “Based on your recent interaction with Genesis/Frank, how likely would you be to recommend Genesis/Frankto your family/friends?”
Calculated on 3 month rolling basis.
CustomersElectricityand gas customersare defined bysingle customer view,regardless of number ofconnections (ICP’s)
SingleCustomerViewRepresentsuniquecustomerswhichmayhavemultipleICPs
ICPInstallationConnectionPoint, aconnectionpoint thatis bothoccupiedand hasnotbeen disconnected(Active-Occupied)
LPGCustomerConnectionsDefinedasnumberofcustomers
GrossCustomerChurnDefinedasresidential customersinstigatingatraderswitchorhomemove
NetCustomerChurnDefinedaspercentage of residential customers that finalise in a period.
Resi, SME, C&IResidential,smallandmediumenterprisesandcommercial&industrialcustomers
B2BBusinesstoBusiness,includingbothSMEandC&I
Netback ($/MW h, $/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)
Genesis Energy Limited FY25 Q2 Performance Report 12.

Glossary – Operational metrics
Wholesale
Electricity Financial Contract Purchases – Wholesale
(GW h)
Settlement volumes of generation hedge purchases, including exchange traded and OTC contracts. Excludes PPAs, active trading, Financial Transmissions Rights
(FTRs) and Cap/Collar/Floor contracts
Electricity Financial Contract Purchases – W holesale Price
($/MW h)
Average price paid for Electricity Financial Contract Purchases – W holesale
Electricity Financial Contract Sales – W holesale (GW h)Settlement volumes of generation hedge sales, including exchange traded and OTC contracts. Excludes PPAs, active trading, Financial Transmissions Rights (FTRs)
and Cap/Collar/Floor contracts
Electricity Financial Contract Sales – W holesale Price
($/MW h)
Average price paid for Electricity Financial Contract Sales – W holesale
Generation Emissions Carbon emissions due to coal and gas electricity generation
Rankine OutputElectricity generated in the Huntly Rankine units
Rankine’s Fuelled by Coal (%)TheproportionofcoalusedintheRankineunits
Total Coal Purchases (PJ)Coal purchases have been converted from tonnes to PJ using the shipments’ Calorific Value
WeightedAverage Gas Burn Cost($/GJ)Totalcost ofgas burntdivided bygeneration fromgas firedgeneration, excludingemissions
CoalUsedInInternalGeneration(PJ)Results may be revised to reflect changes in coal kilo tonnes to PJ conversion rate and volume methodology.
WeightedAverage CoalBurn Cost($/GJ)Totalcostof coalburntdivided bygenerationfrom coalfired generation,excludingemissions
Operational Coal Stockpile – closing balance (kt)The coal stockpile closing balance in tonnes at Huntly Power Station, less the Security Products Stockpile.
Security Products Stockpile – closing balance (kt)
Refers to Huntly Firming Option (HFO) and Market Security Options (MSO). Stored energy refers to virtual stockpile volumes ordered by counterparties and is
expressed in kilotonnes of coal equivalents as at period end.
Power purchase agreements (Wind / Solar)
Electricity (GW h)Energypurchasedthroughlongtermagreementswithgenerator
AveragePriceReceivedforGeneration-GW AP
($/MWh)
Price received at production node
Corporate
Total RecordableInjuries12-monthrollingTotalRecordableInjuries including LostTimeInjuries, RestrictiveW orkInjuries andMedicalTreatmentInjuries
Employees FTENumber of full-time equivalent employees, excluding those on parental leave or a career break
Contractors FTENumber of full-time equivalent contractors, excluding statement of work contractors.
Core FTENumber of full-time equivalent employees and contractors excluding those working on time-bound digital projects.
Digital Projects FTENumber of full-time equivalent employees and contractors working on time-bound digital projects.
Total FTETotal number of full-time equivalent employees, including contractors, excluding employees on parental leave or a career break
Kupe
Oil ProductionProduction of crude oil
Oil Price realised (USD/bbl.)Theunderlyingbenchmarkcrude oilpricethat isusedto setthepricefor crudeoilsales
LPG ProductionProduction of LPG
Genesis Energy Limited FY25 Q2 Performance Report 13.

Investor relations enquiries
Cameron Sinclair
GM Investor Relations
+64 274 273 280

---

MARKET RELEASE

24 January 2025
NZX: GNE / ASX: GNE
FY25 Q2 Performance Report
1


Chief Executive Malcolm Johns said, “The Huntly portfolio, with its 1,200MW of generation flexibility,
drove performance in the period. We further improved overall portfolio flexibility and increased our
renewable energy sources with Lauriston, the largest solar farm to date in New Zealand, commencing
generation in November. We have the Tauhara Geothermal PPA of 62.5 MW commencing from 1 Jan
25 and this demonstrates our journey to lift renewable generation within our portfolio, releasing
flexible generation capacity to support both the Genesis portfolio and the growing number of
intermittent renewable generation in the wider market.”

Operational update
Continued to progress flexibile generation strategy: Total generation down 205 GWh, with renewable
generation in line with pcp and thermal generation down 42%, maximising margin leverage from
flexible generation options against wholesale market dynamics. Generation carbon emissions down
65% vs pcp.
1


Energy storage increased during the period with Operational Coal Stockpile of 518kt (representing ~1
TWh of energy) and lakes averaging 118% of capacity (representing 0.4 TWh of energy).

Security Products
2
coal stockpile was at 55kt (against contracted HFO capacity of 85 MW).

Retail customer growth of 4.7% vs pcp supported by acquisition of Ecotricity and growth of Frank.

Gas netback up 43.1% vs pcp, as the market reflected higher wholesale prices.

Methanex gas purchase agreement concluded on 31 October 2024.

Kupe production interrupted in December 2024 from a 16-day unplanned de-ethaniser plant outage,
with full production resumed on 28th December.

Gen35 strategy update

Completed obligation to purchase remaining 30% ownership of Ecotricity on 1 December.

Lauriston achieved first generation on 11 November, ahead of the December target. Commissioning
activities continue, with final commissioning expected to occur in Q3 FY25.


1
pcp refers to Q2 FY24.
2
Refers to Huntly Firming Option (HFO) and Market Security Options (MSO). Stored energy refers to virtual stockpile
volumes ordered by counterparties and is expressed in kilotonnes of coal equivalents as at period end.

Testing and commissioning activities continue from the operator at the Tariki-5A well. Due diligence
efforts are progressing for potential implementation of gas storage options.



ENDS


For investor relations enquiries, please contact:
Cameron Sinclair
GM Investor Relations
M: 0274 273 280

For media enquiries, please contact:
Estelle Sarney
External Communications Manager
M: 027 269 6383







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 Frank and is one of New Zealand’s largest
energy retailers 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 $NZ3.0 billion during the 12 months ended 30 June 2024. More information
can be found at www.genesisenergy.co.nz