ASM Chair’s address and Presentation

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This document is the intellectual property of Gentrack.
Gentrack Group
Annual Shareholder
Meeting
26 February 2025

2
© Gentrack 2025. All rights reserved.
This document is the intellectual property of Gentrack.
This presentation may contain forward-looking statements.
Forward-looking statements often include words such as
‘anticipate’, ‘expect’, ‘plan’ or similar words in connection with
discussions of future operating or financial performance.
The forward-looking statements are based on management’s
and directors’ current expectations and assumptions regarding
Gentrack’s business and performance, the economy and other
future conditions, circumstances and results. As with any
projection or forecast, forward-looking statements are
inherently susceptible to uncertainty and changes in
circumstances. Gentrack’s actual results may vary materially
from those expressed or implied in its forward-looking
statements.
All figures are shown in NZ$M.
Disclaimer

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© Gentrack 2025. All rights reserved.
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© Gentrack 2025. All rights reserved.
This document is the intellectual property of Gentrack.
The Gentrack Board
Darc Rasmussen
Non-Executive
Director
Gillian Watson
Non-Executive
Director
Fiona Oliver
Non-Executive
Director
Stewart Sherriff
Non-Executive
Director
Gary Miles
CEO
Andy Green
Chair

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© Gentrack 2025. All rights reserved.
This document is the intellectual property of Gentrack.
Proxieshave been appointed for the purposes of this meeting in respect of
approximately73,725,492millionshares, representingover 68.44% of the total number of
shares.
Proxy Voting

6
© Gentrack 2025. All rights reserved.
This document is the intellectual property of Gentrack.
Agenda
1
Chair’s Introduction
2
Addresses to shareholders
3
Shareholders Questions
4
Ordinary Resolutions

© Gentrack 2025. All rights reserved.
This document is the intellectual property of Gentrack.
Chair’s Address
Andy Green
Chairman

© Gentrack 2025.All rights reserved.
This document is the intellectual property of Gentrack.
CEO Commentary
Gary Miles
Chief Executive Officer

9
© Gentrack 2025. All rights reserved.
This document is the intellectual property of Gentrack.
Deploying g2
successfully
Strong partnerships
driving pipeline and
customer value
Leadership aligned, energised
and performing well
Recent record performance,
now deploying with announced
wins in ME and UK
Inaugural Climate Statement released
Continuing to grow India base > 100+

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© Gentrack 2025. All rights reserved.
This document is the intellectual property of Gentrack.
Industry wide RFP momentum is accelerating across Europe and Asia
g2 is resonating well with the market
There are a very small number of credible players in position to deliver to this industry re
platforming
Due to these factors our pipeline continues to expand
As messaged in prior announcements, mature deals in the pipeline are expected to start closing
Our FY25 growth will be 2H weighted due to new sales closure timelines (12 to 36 months)
I remain very confident in our ability to execute against our
•Purpose to accelerate the journey to a net zero future by leading the global IT modernisation of
energy and water retailers and
•Plans to achieve mid-term revenue growth >15% CAGR and 15-20% EBITDA
We intend to provide full year guidance at 1H results in May
Market Dynamics

© Gentrack 2025.All rights reserved.
This document is the intellectual property of Gentrack.
Shareholder
Questions

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This document is the intellectual property of Gentrack.
Formal Business
of Meeting

13
© Gentrack 2025. All rights reserved.
This document is the intellectual property of Gentrack.
To vote, you will need to click “Get Voting Card” within the online meeting platform. You will be
asked to enter your Shareholder or Proxy Number to validate. Please then mark your voting
card in the way you wish to vote by clicking “FOR”, “AGAINST” or "ABSTAIN" on the voting card.
Once you have made your selection please click “Submit Vote” on the bottom of the card to
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Voting will remain open until 5 minutes after the conclusion of the meeting.
Results of the vote will be announced via the Stock Exchanges.
Voting on the resolutions
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or +64 9 967 7751 if you’re outside New Zealand if you require assistance.

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© Gentrack 2025. All rights reserved.
This document is the intellectual property of Gentrack.
Resolution One
Please refer to the virtual meeting online portal guide or use the help line on 0800 200 220 if you’re in New Zealand
or +64 9 967 7751 if you’re outside New Zealand if you require assistance.
Re-election of Fiona Oliver as Director
Results of Proxy Votes
For72,782,228
Against528,062
Discretionary398,938

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© Gentrack 2025. All rights reserved.
This document is the intellectual property of Gentrack.
Resolution Two
Please refer to the virtual meeting online portal guide or use the help line on 0800 200 220 if you’re in New Zealand
or +64 9 967 7751 if you’re outside New Zealand if you require assistance.
Election of Gillian Watson as Director
Results of Proxy Votes
For73,235,411
Against84,483
Discretionary398,938

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This document is the intellectual property of Gentrack.
Resolution Three
Please refer to the virtual meeting online portal guide or use the help line on 0800 200 220 if you’re in New Zealand
or +64 9 967 7751 if you’re outside New Zealand if you require assistance.
Authorisation to fix auditor’s remuneration
Results of Proxy Votes
For73,206,953
Against119,451
Discretionary399,088

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© Gentrack 2025. All rights reserved.
This document is the intellectual property of Gentrack.
Resolution Four
Please refer to the virtual meeting online portal guide or use the help line on 0800 200 220 if you’re in New Zealand
or +64 9 967 7751 if you’re outside New Zealand if you require assistance.
Directors’ remuneration fee cap
Results of Proxy Votes
For72,445,878
Against889,511
Discretionary362,688

© Gentrack 2025.All rights reserved.
This document is the intellectual property of Gentrack.
Close
of Meeting

---

Gentrack Group Ltd
17 Hargreaves Street, St Marys Bay Auckland 1011,
PO Box 3288, Auckland 1140, New Zealand
Ph: +64 9 966 6090
Email: info@gentrack.com
www.gentrack.com
Gentrack Group Ltd | ARBN 169 195 751
26 February 2025

Annual Meeting of Shareholders - Chair’s address
Gentrack’s market segments of energy, water and airports are growth markets
providing essential services.
Gentrack’s mission in utilities is to help the world accelerate towards a net zero
future by supporting the global modernisation of energy and water retailers.
Gentrack has around 690 committed utility professionals who are passionate
about this purpose. They work tirelessly to demonstrate our leadership in this
dynamic landscape as utilities world-wide embark on their transformation
journey.
Strong revenue growth in the last financial year came in part from doing more
with our current customers as they innovate. They face a myriad of drivers for
system change including regulatory and competitive dynamics; data insights
from real time smart meter interactions; time of use pricing; great customer
experience; new operating models; and per capita water consumption targets.
Additionally, we had four new utility customers in FY24, including new wins in
Saudi Arabia and the Philippines. We now have utility customers in eight
countries. The pipeline of new opportunities continues to develop, and we are
targeting further wins in FY25 in our current markets and new territories.
Separately, our Airports Division, Veovo, which operates in 23 countries and
over 140 airports, is playing a leading role in the digitization and modernisation
of the industry. We have a top-class team and great technology with over 90
professionals in the division.
We expect continued progress at Veovo. With almost no customer churn,
continued new wins (such as FY24 wins of Manchester Airports Group and the
airports of Saudi Arabia) add depth to our recurring revenue base. We expect
to secure renewals, upsells and new wins from our strong pipeline in FY25.
For the Group, revenues in FY24 increased 25.5% over the prior year period to
$213.2m. In our Utilities business, total revenue grew by 23% to $181.3m.
Underlying Utilities revenue, excluding $27.6m of revenue in FY23 from
insolvent customers, grew by 51%. Upgrades and other customer
transformations, new customer wins and strong demand for innovation and

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change from across our customer base helped drive our non-recurring
revenues 104% higher to $60m. Wins and upsells from prior periods increased
our recurring revenues by 33% to $121.3m.
New customer wins in the UK and the Middle East powered Veovo to a 45.5%
increase in revenue over the prior period to $31.9m. The project work to
implement these wins alongside upgrades from existing customers drove non-
recurring revenues 101% higher than FY23 to $15.7m. This included $6.8m
($2.0m in FY23) of revenue from sales of hardware sourced from our supplier
network. Customer wins and upgrades from prior periods also pushed
recurring revenues 15% higher to $16.3m.
EBITDA at $23.6m, compared to $23.2m in FY23, included $7.1m booked
against expected payroll tax on the Group’s LTI schemes, compared to $0.3m
in FY23. This follows the strong rise in our share price as the tax is based on the
share price at vesting. Furthermore, for LTI awards made at the start of FY24
more shares vest and vest earlier when the share price is higher and so we are
now amortising most of this expected cost over two rather than three years.
We continued to increase investment in strategic R&D, as well as increase our
sales & marketing spend to support our international expansion.
Our NPAT of $9.5m ($10m in FY23) included a $1.3m loss being our share of
the losses of Amber in which we acquired a 10% stake during the year.
Alongside our equity we hold a seat on Amber’s Board and so account for this
investment as an associate company within our financial statements.
Gentrack continues to deliver strong cash generation. Our cash as of 30
September 2024 was $66.7m, a $17.5m increase over the start of the year, after
investing $12.9m in Amber.
Gentrack’s Utilities and Veovo businesses both operate in high growth and
consolidating markets. The Board believes that the best use of the company’s
capital is to continue to invest in growth. We have therefore decided not to pay
a dividend. We will keep the use of capital under regular review.
The g2.0 technology strategy, with Salesforce’s Energy and Utility Cloud
embedded, is resonating very well with our existing and potential customers.
A recent testament to this has been g2.0 winning three prestigious awards at

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the Asian Business Review Awards 2024 for Enterprise Software Energy,
Enterprise Software Utilities, and ESG Tech Utilities.
In November 2023, Genesis Energy selected our g2.0 solution to modernise
their business and we are making good progress in this transformation
program which remains a key program across FY25. Upgrade discussions with
parts of our customer base are underway and new customer sales are on g2.0.
We have a strong and exciting technology roadmap for FY25. We continue to
invest in data solutions for better AI insights and automation as well as a broad
range of sellable, add on functionality that energy and water customers need
as they transform and innovate.
We continue to invest in products in areas such as dynamic pricing and
propositions for distributed energy sources such as battery optimisation for
industry, homes, and electric vehicles. Our minority investment in Amber
accelerates our roadmap in this key energy transition domain. Amber is an
Australian based technology company and energy retailer that gives
customers direct access to real time energy prices and the technology to
automate their home batteries and EVs. Their product is augmenting our
solution well and we see encouraging interest in the combined Gentrack and
Amber solution. We are pleased to have achieved our first win on a joint
Gentrack and Amber solution in Europe.
We also work with other distributed resources management technology
suppliers to bring the right energy solution to our customers in this nascent
market.
Veovo has had another strong year of growth. Airports are again handling 2019
passenger numbers and that has meant a drive for technology to deliver more
capacity and better journeys. FY24 has seen a number of big projects for
Veovo. We have had major success in the Middle East with large contracts in
Saudi Arabia for our Passenger Predictability products and the delivery of
Airport Billing in Dubai. In the UK, Manchester Airport Group has selected
Veovo for Passenger tracking and Queue measurement across all their airports.
We continue to have excellent customer retention.
We expect Veovo to continue this strong story in FY25, with current projects
becoming operational and a strong pipeline of opportunities with existing and
new customers.

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Our FY24 Annual Report includes our first Climate Statement under the New
Zealand climate related disclosures regime. We believe that our technologies
can play a key role in accelerating a sustainable future for the planet. Our
platforms support automation and operational efficiency at airports. At Utilities,
we deliver customer centric solutions that can help end customers adopt
greener solutions to advance the energy transition.
Both the utilities and airports industries are transforming at pace. They are
dynamic markets in a state of change, and we are confident in our ability to
lead these markets globally over time.
We remain confident of our mid-term guidance of growing revenue more than
15% CAGR and an EBITDA margin of 15-20% after expensing all development
costs.
In FY25, we expect both Utilities and Veovo to show continued revenue growth
and EBITDA improvement, the extent of which will depend on when business
opportunities close in the year.
On closing I’d like to thank our customers and shareholders for their continued
support and the entire Gentrack team for their achievements last year and for
their commitment to Gentrack’s future.
Thank you very much,
Andy Green
Chair

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ENDS
Contact details regarding this announcement:
Anna Ellis – Company Secretary
+64 9 966 6090

About Gentrack
We are entering a new era, with utilities worldwide transforming to meet
business and sustainability targets. For over 35 years Gentrack has been
partnering with the world’s leading utilities, and more than 60 energy and
water companies rely on us.
Gentrack, with our partners Salesforce and AWS, are leading today’s
transformation with g2.0, an end-to-end product-to-profit solution. Using low
code / no code, and composable technology, g2.0 allows utilities to launch
new propositions in days, reduce cost-to-serve and lead in total experience.
https://www.gentrack.com