FY25 Q3 Performance Report

MARKET RELEASE

23 April 2025
NZX: GNE / ASX: GNE
FY25 Q3 Performance Report


The Huntly portfolio continued to display strong flexibility, with the portfolio now able to flex by
around 1,000MW a day to accommodate wind and hydro volatility.

Preparations for winter 2025 remained a key focus during the quarter, due to below average
hydrology and continued decline in the national gas supply. Huntly Unit 1 is scheduled to return from
service in June enabling three Rankine units to be available for this winter. The coal stockpile at Huntly
was rebuilt to 474kt by the end of the quarter. A further 735kt of future dated coal is expected to
arrive between 17 April and the end of August 2025, with an option to order an additional 35kt.

Chief Executive Malcolm Johns said, “negotiations with industry participants to maintain a third Huntly
Rankine Unit out to around 2035, supported by long dated HFOs
1
are continuing. These discussions
include jointly funding a coal reserve for dry years to support national energy security”.

The third Rankine is currently scheduled for retirement in January 2026.

The activation of PPAs for geothermal energy from Tauhara and solar power from Lauriston saw
electricity supply from PPAs increase to 229 GWh in the quarter. These PPAs serve to increase
renewable generation and improve our portfolio flexibility, a key element of our Gen35 strategy.

Q3 performance highlights included:

• Retail accelerated its strategy to simplify product offerings, improve customer service and reduce
operational costs.

• Distributed energy delivered a record 5% of energy supply in January 2025. Genesis is now the
retail partner to around 30,000 rooftop solar customers.

• The customer flexibility pillar of our strategy expanded with a hot water management trial taken
up by around 30,000 household customers, growth of rooftop solar customers, and 400,000
EcoBulb lightbulbs distributed to around 137,000 residential customers.

• The first site works for the first stage of our battery project at Huntly Power Station were
successfully completed. Construction of the first 100 MW/200 MWh stage will commence
shortly. The project timeline remains on track.

• Genesis is advancing negotiations with Carbona and Foresta for biomass supply. The Genesis
team recently visited a biomass torrefaction plant in Finland to observe commissioning as part of
technology verification. We continue to engage with other potential suppliers.

1
Refers to Huntly Firming Options (HFOs). Stored energy refers to virtual stockpile volumes ordered by
counterparties and is expressed in kilotonnes of coal equivalents as at period end.

Genesis will hold an Investor day in November 2025, the exact date to be confirmed.

ENDS


For investor relations enquiries, please contact:
Dan Dillane
Group Treasurer
M: 021 501 235

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

---

FY25 Q3
Performance Report
23April 2025

Disclaimer
This report has been prepared by Genesis Energy Limited
(“Genesis Energy”) or (“the Company”) for information
purposes only and relates to the operational performance of
the Company for the third quarter of the financial year ending
30 June 2025. The information contained in this report is
unaudited.
This disclaimer applies to this report. For these purposes,
“report” means this document and the information contained
within it, as well as the verbal or written comments of any
person presenting it.
This reportis of a general nature and does not purport to
be complete nor does it contain all the information required
for an investor to evaluate an investment.
This reportmight contain forward-looking statements.
Forward-looking statements could include projections and
may include statements regarding Genesis Energy’s intent,
belief or current expectations in connection with its future
operating or financial performance or market conditions.
Forward-looking statements in this reportmay also include
statements regarding the timetable, conduct and outcome
of the general strategy of Genesis Energy, statements about
the plans, targets, objectives and strategies of Genesis Energy,
statements about the industry and the markets in which
Genesis Energy operates and statements about the future
performance of, and outlook for, Genesis Energy’s business.
Any indications of, or guidance or outlook on, future earnings
or financial position or performance and future distributions
are also forward-looking statements.
Forward-looking statements in this report are not guarantees
or predictions of future performance, are based on current
expectations and involve risks, uncertainties, assumptions,
contingencies and other factors, many of which are outside
Genesis Energy’s control, are difficult to predict, and which
may cause the actual results or performance of Genesis
Energy to be materially different from any future results or
performance expressed or implied by such forward-looking
statements. This risk of inaccuracies may be heightened in
relation to forward-looking statements that relate to longer
timeframes, as such statements may incorporate a greater
number of assumptions and estimates. Genesis Energy gives
no warranty or representation in relation to any forward-
looking statement, its future financial performance or any
future matter. Forward-looking statements speak only as of
the date of this report.
Forward-looking statements can generally be identified by
the use of words such as “approximate”, “project”, “foresee”,
“plan”, “target”, “seek”, “expect”, “aim”, “intend”, “anticipate”,
“believe”, “estimate”, “may”, “should”, “will”, “objective”,
“assume”, “guidance”, “outlook” or similar expressions.
Genesis Energy is subject to disclosure obligations under the
NZX Listing Rules that requires it to notify certain material
information to NZX for the purpose of that information being
made available to participants in the market. This report
should be read in conjunction with Genesis Energy’s periodic
and continuous disclosure announcements released to NZX,
which are available at www.nzx.com.
While all reasonable care has been taken in compiling this
report, to the maximum extent permitted by law, Genesis
Energy accepts no responsibility for any errors or omissions,
and no representation is made as to the accuracy,
completeness or reliability of the information, in this report.
This reportdoes not constitute financial, legal, financial,
investment, tax or any other advice or a recommendation
and nothing in this reportshould be construed as an invitation
for any subscription for, or purchase of, securities in Genesis
Energy.
All references to “$” are to New Zealand dollars, unless
otherwise stated.
Except as required by law, or the rules of any relevant
securities exchange or listing authority, Genesis Energy is
not under any obligation to update this reportat any time
after its release, whether as a result of new information,
future events or otherwise.

FY25 Q3 Performance Highlights
Retail
1,474 GWh
Total Electricity Sales
WholesaleKupe
2
138 GWhincrease on pcp
1
526,327
Total Customers
6. 4% increase on pcp
$155/MWh
Electricity Netback
21.5% decrease on pcp
433 GWh
Rankine Generation
143 GWhincrease on pcp
229 GWh
PPA Electricity Generation
Operational Coal Stockpile
3
250 ktdecrease on pcp
1.PCP refers to Q3 FY24 unless otherwise stated.
2.Refers to Genesis’ 46% share of Kupe JV.
3.Excludes security products stockpile of 108 kt
Genesis Energy Limited FY25 Q3 Performance Report 3.
1.7 PJ
0.4 PJ decrease onpcp
7.4 kt
1.3 kt decrease on pcp
336 kt
Oil Production
Kupe LPG Sales
Kupe Gas Sales
124 GWh increase on pcp
36 kbbl
8.7% increase on pcp
Prices, volumes and financials in this report are unaudited and subject to change. Reported numbers have been rounded and might not appear to add or multiply.

Strategy
•Negotiations advanced with industry participants to maintain a third Huntly Rankine Unit to c2035, supported by
long dated Huntly Firming Option’s. Discussions include a jointly-funded coal reserve for national energy security.
During the period 64 GWh of Rankine Generation related to existing Security Products (HFOs and MSOs).
•Retail continues to simplify its product offering, with Frank now 100% electric in support of planned reduction
in core operating costs. Efforts to simplify Genesis retail offering ongoing.
•Distributed Energydelivered a record 5% of energy supply in January 2025, with Genesis now the retail partner
to c30,000 rooftop solar customers.
•Increased demand for Genesis customer-led flexibility initiatives, with the expanded hot water trial, growth of
rooftop solar customers, and EcoBulbinitiative.
•First site works for Huntly BESS (100MW x 2hr) successfully completed. Project timeline remains on track.
•Negotiations with Carbona and Forestafor biomass supply advanced, with continued engagement of other
potential suppliers. Genesis team recently visited a biomass torrefaction plant in Finland to observe
commissioning as part of technology verification.
•Genesis will hold an Investor day in November 2025, the exact date to be confirmed.
Operational
•Flexibility generation (Flexgen): Huntly Unit 2 returned to service in March with high pressure turbine overhaul
and transformer bushings replacement being completed. Huntly Unit 1 scheduled to return from service in June,
with all three Rankine units available for winter 2025.
•Energy storage effectively utilised during the quarter, with a closing operational coal stockpile of 366kt (~0.7
TWhof energy) and lakes at 94% of average capacity (~0.3 TWhof energy). 735kt of coal expected between 17
April and end August 2025, with an option to order an additional 35 kt.
•Electricity generated from PPAs increased to 229 GWh during the quarter, with new PPAs for geothermal at
Tauhara and solar at Lauriston commencing.
•Electricity netbackup 8.7% against pcp, as a result of ongoing strategy execution.
•Gas and LPG netback up 43.5% and 10.7% respectively against pcp, with a focus on more valuable volumes.
•Kupe oil production of 36 kbbl, down 21.5% against pcp, in line with the expected rate of field decline
FY25 Q3 PerformanceHighlights
Genesis:Hydrology Table
1
HYDROLOGY (GWH)
Q3 FY25Q3 FY24
Hydro
Generation
480583
Hydro
Inflows
364545
Closing
Storage
301
(94% of average)
208
(65% of average)
1
Reported FY24 closing storage restated
CUSTOMER
c6TWh
RENEWABLES
c3TWh Hydro
c1TWh PPA
FLEXIBILITY
c1,200MW
Genesis Energy Limited FY25 Q3 Performance Report 4.
Prices, volumes and financials in this report are unaudited and subject to change. Reported numbers have been rounded and might not appear to add or multiply.

FY25 Q3 Operating Performance
Q3 FY25Q3 FY24VarianceYTD FY25YTD FY24
ELECTRICITYVolumeRate per unit$m VolumeRate per unit$m VolumeRate per unit$m
Volume
Rate per unit$m VolumeRate per unit$m
Retail Resi Electricity584 GWh$325/MWh
190.0 619 GWh$297/MWh183.6 (35)GWh$29/MWh6.4 2,203 GWh$303/MWh667.5 2,248 GWh$285/MWh641.1
Retail SME Electricity246 GWh$281/MWh69.2 252 GWh$260/MWh65.5 (5)GWh$21/MWh3.7 777 GWh$273/MWh212.3 766 GWh$256/MWh196.0
Retail C&I Electricity450 GWh$195/MWh87.7 465 GWh$182/MWh84.5 (14)GWh$13/MWh3.2 1,351 GWh$197/MWh266.5 1,370 GWh$187/MWh256.3
Ecotricity Electricity192 GWh$281/MWh54.1 - GWh$/MWh-192 GWh$281/MWh54.1 262 GWh$259/MWh67.9 - GWh$/MWh-
Total Retail Sales1,474 GWh$272/MWh
401.1 1,336 GWh$250/MWh333.7 138 GWh$22/MWh67.4 4,593 GWh$264/MWh1,214.2 4,384 GWh$249/MWh1,093.4
Wholesale Electricity Sales1,434 GWh$242/MWh346.4 1,284 GWh$200/MWh256.6 150 GWh$42/MWh89.8 4,409 GWh$241/MWh1,062.2 4,168 GWh$158/MWh660.6
Generation Costs - Thermal953 GWh$135/MWh128.7 686 GWh$103/MWh70.7 267 GWh$32/MWh58.0 2,520 GWh$139/MWh351.4 2,024 GWh$114/MWh231.7
Generation Costs - Renewable481 GWh--599 GWh--(117)GWh--1,890 GWh--2,144 GWh--
Generation Costs - Total1,434 GWh$90/MWh
128.7 1,284 GWh$55/MWh70.7 150 GWh$35/MWh58.0 4,409 GWh$80/MWh351.4 4,168 GWh$56/MWh231.7
Retail Purchases
Retail Purchases1,550 GWh$230/MWh
355.8 1,407 GWh$195/MWh273.8 143 GWh$35/MWh82.0 4,829 GWh$207/MWh998.2 4,608 GWh$156/MWh719.5
Transmission and Distribution Costs156.1 129.1 27.0 477.5 411.2
GASVolumeRate per unit$m VolumeRate per unit$m VolumeRate per unit$m
Volume
Rate per unit$m VolumeRate per unit$m
Retail Resi Gas0.3 PJ$79.6/GJ
25.0 0.3 PJ$68.1/GJ22.6 (0.0) PJ$11.5/GJ2.3 1.7 PJ$54.6/GJ92.1 1.8 PJ$46.8/GJ84.8
Retail SME Gas0.3 PJ$41.7/GJ11.1 0.3 PJ$31.6/GJ8.7 (0.0) PJ$10.1/GJ2.4 1.1 PJ$34.0/GJ38.3 1.1 PJ$29.2/GJ30.8
Retail C&I Gas0.6 PJ$32.4/GJ20.1 0.5 PJ$24.4/GJ13.1 0.1 PJ$8.0/GJ7.0 2.3 PJ$29.5/GJ67.8 2.2 PJ$21.9/GJ48.8
Total Retail Sales1.2 PJ$46.8/GJ56.2 1.1 PJ$38.8/GJ44.4 0.1 PJ$8.0/GJ11.7 5.1 PJ$38.8/GJ198.2 5.1 PJ$32.3/GJ164.4
Wholesale Sales0.3 PJ$6.6/GJ1.9 0.1 PJ$13.8/GJ1.4 0.2 PJ-$7.3/GJ0.5 1.8 PJ$7.9/GJ14.5 0.2 PJ$12.0/GJ2.3
Cost of Gas1.5 PJ$12.6/GJ18.7 1.2 PJ$9.0/GJ11.2 0.2 PJ$3.6/GJ7.6 7.0 PJ$13.3/GJ92.7 5.3 PJ$8.8/GJ46.5
Transmission and Distribution Costs23.1 20.6 2.4 78.8 66.8
LPGVolumeRate per unit$m VolumeRate per unit$m VolumeRate per unit$m
Volume
Rate per unit$m VolumeRate per unit$m
Bottled LPG Sales3.1 kt$3,806/t
11.9 3.4 kt$3,485/t12.0 -0.3 kt$321/t(0.1)13.6 kt$3,503/t47.5 14.0 kt$3,156/t44.3
SME & Other Bulk LPG Sales4.8 kt$2,004/t9.7 4.8 kt$1,889/t9.1 0.0 kt$115/t0.6 18.5 kt$1,941/t35.9 17.7 kt$1,793/t31.6
Total Retail Sales8.0 kt$2,711/t21.6 8.3 kt$2,553/t21.1 -0.3 kt$158/t0.5 32.1 kt$2,602/t83.4 31.7 kt$2,397/t76.0
Wholesale LPG Sales1.2 kt$1,031/t1.2 2.7 kt$1,017/t2.8 -1.6 kt$14/t(1.6)3.1 kt$1,040/t3.2 4.3 kt$1,003/t4.3
LPG Cost9.1 kt$1,133/t10.4 11.0 kt$933/t10.2 -1.8 kt$200/t0.1 35.2 kt$1,045/t36.7 36.0 kt$1,023/t36.8
KUPEVolumeRate per unit$m VolumeRate per unit$m VolumeRate per unit$m
Volume
Rate per unit$m VolumeRate per unit$m
Oil Sales10 Kbbl$122.6/bbl
1.2 40 Kbbl$202.9/bbl8.2 (30.0)Kbbl-$80.4/bbl(6.9)129 Kbbl$109.5/bbl14.2 109 Kbbl$130.9/bbl14.3
Gas Sales1.7 PJ$8.1/GJ13.7 2.1 PJ$8.3/GJ17.0 (0.4)PJ-$0.2/GJ(3.3)5.0 PJ$8.2/GJ41.0 5.1 PJ$8.0/GJ40.3
LPG Sales7.4 kt$554/t4.1 8.7 kt$550/t4.8 (1.3)Kt$4/t(0.7)21.9 kt$548/t12.0 21.3 kt$527/t11.2
Genesis Energy Limited FY25 Q3 Performance Report 5.
Prices, volumes and financials 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 Ecotricity3. Reported Q2 number restated
FY25 Q3 Operating Metrics
RETAIL SEGMENTQ3 FY25Q3 FY24% ChangeVar.Q2 FY25% ChangeVar.YTD FY25YTD FY24
RETAIL
Brand Net Promoter Score
1
231921.1% 425(8.0%)-2
Interaction Net Promoter Score
1
4856(14.3%)-856(14.3%)-8
Gross Customer Churn
2
(3 month rolling average, %)16.6% 19.6% (15.2%)(3.0%)19.8% (16.3%)(3.2%)
Net Customer Churn
2
(3 month rolling average, %)10.1% 12.8% (21.0%)(2.7%)12.2% (17.1%)(2.1%)
Electricity Netback ($/MWh)$155.19 $142.75 8.7%$12.44 $134.72 15.2%$20.43 $150.21 $144.54
Gas Netback ($/GJ)$26.64 $18.56 43.5%$8.07 $25.08 6.2%$1.56 $22.67 $17.51
LPG Netback ($/t)$1,424.70 $1,287.35 10.7%$137.34 $1,444.20 (1.4%)($19.50)$1,520.83 $1,336.95
CUSTOMER NUMBERS
Customers > 1 Fuel
127,028 149,750 (15.2%)(22,722)148,240 (14.3%)(21,212)127,028 149,750
Electricity Only Customers345,543 302,687 14.2%42,856 329,558 4.9%15,985 345,543 302,687
Gas Only Customers16,847 11,164 50.9%5,683 10,131 66.3%6,716 16,847 11,164
LPG Only Customers36,909 31,151 18.5%5,758 28,383 30.0%8,526 36,909 31,151
Total Customers526,327 494,752 6.4%31,575 516,312 1.9%10,015 526,327 494,752
Electricity ICPs Active-Occupied549,562 514,080 6.9%35,482 554,178 (0.8%)(4,616)549,562 514,080
Gas ICPs Active-Occupied103,728 109,991 (5.7%)(6,263)107,718 (3.7%)(3,990)103,728 109,991
LPG Customer Connections (#) 86,831 92,202 (5.8%)(5,371)88,998 (2.4%)(2,167)86,831 92,202
Total ICPs740,121 716,273 3.3%23,848 750,894 (1.4%)(10,773)740,121 716,273
WHOLESALE SEGMENTQ3 FY25Q3 FY24% ChangeVar.Q2 FY25% ChangeVar.YTD FY25YTD FY24
GENERATION
Generation Emissions (ktCO2)
666 442 50.6% 224 145 360.4% 522 1,795 1,432
Generation Carbon Intensity (tCO2/GWh)465 344 34.9% 120 144 222.4% 321 407 343
Rankine Output (GWh)433 290 49.2% 143 48 796.6% 385 1,245 1,589
Rankines Fueled by Coal (%)91% 67% 36.4% 24% 21% 344.8% 71% 88% 40%
Total Gas Purchases (PJ)5.9 5.4 9.4%0.5 5.3 10.6%0.6 18.3 19.2
Total Coal Purchases (PJ)2.4 -N/A 2.4 6.9 (65.5%)(4.5)17.0 -
Electricity CFD Purchases - Wholesale (GWh)286 549 (47.8%)(263)506 (43.4%)(219)1,086 1,581
Electricity CFD Purchase Price - Wholesale ($/MWh)$160 $150 7.0%$10 $125 28.3%$35 $149 $139
Electricity CFD Sales - Wholesale (GWh)302 373 (18.9%)(71)327 (7.5%)(25)1,055 1,240
Electricity CFD Sale Price - Wholesale ($/MWh)$200 $152 31.6%$48 $145 37.9%$55 $182 $140
Gas Used In Internal Generation (PJ)4.4 4.2 4.7% 0.22.4 80.7% 2.011.5 14.0
Weighted Average Gas Burn Cost ($/GJ)$13.8 $10.1 36.0% $3.6 $16.1 (14.3%)($2.3)$15.2 $9.7
Coal Used In Internal Generation (PJ) 4.42 2.2 99.5% 2.2 0.1 3113.9% 4.3 12.0 6.9
Weighted Average Coal Burn Cost ($/GJ)$11.5 $8.0 44.6% $3.5 $11.2 2.3% $0.3 $10.1 $8.0
Operational Coal Stockpile - closing balance (kilotonnes)366615(40.6%)(250)492
3
(25.7%)(126)
Security Products – coal equivalent energy secured (kilotonnes)108 8 1212.0% 100 80
3
34.6% 28
POWER PURCHASE AGREEMENTS
Electricity (GWh)
229 105 117.6% 124 129 77.4% 100 482 363
Average Price Received for Generation - GWAP ($/MWh)$202.71 $147.99 37.0% $54.72 $23.74 754.0% $178.97 $161.41 $123.30
Genesis Energy Limited FY25 Q3 Performance Report 6.
Prices, volumes and financials in this report are unaudited and subject to change. Reported numbers have been rounded and might not appear to add or multiply.

1.The severity and classification of injuries are subject to change based on medical assessment and acceptance by ACC. This mayresult in historical restatement.
2.Headcount reporting has been updated to differentiate between core staff and staff employed for digital projects..
FY25 Q3 Operating Metrics
1,298
1,297
1,263
1,209
1,196
1,189
1,150
32
33
41
75
93
80
129
1,289
1,332
1,345
1,329
1,331
1,304
1,284
1,289
1,269
1,280
1,000
1,050
1,100
1,150
1,200
1,250
1,300
1,350
1,400
FY24 Q1Q2Q3Q4FY25 Q1Q2Q3
FTE Split
Core FTEDigital Projects FTEEcotricity FTETotal FTETotal Genesis FTE
KUPE SEGMENTQ3 FY25Q3 FY24% ChangeVar.Q2 FY25% ChangeVar.YTD FY25YTD FY24
Oil Production (kbbl)
36 46 (21.5%)(10)32 14.2%4 107 115
Average Brent Crude Oil (USD/bbl)$75.66 $83.25 (9.1%)($7.58)$74.69 1.3%$0.97 $76.85 $85.15
LPG Production (kt)7.6 8.8 (14.2%)(1.2)6.5 17.0%1.1 22.0 21.5
LPG Production Yield (t/TJ)4.5 4.3 3.8%0.2 4.4 1.1%0.0 4.4 4.2
OTHERQ3 FY25Q3 FY24% ChangeVar.Q2 FY25% ChangeVar.YTD FY25YTD FY24
CORPORATE
Employees FTE
1,209 1,248 (3.2%)(39)1,211 (0.2%)(2)1,209 1,248
Contractors FTE71 55 27.6%15 58 22.1%13 71 55
Ecotricity FTE65 -N/A65 63 3.2%2 65 -
Total FTE1,345 1,304 (1.9%)(24)1,269 0.8%11 1,280 1,304
Total Recordable Injuries8 3 166.7% 5 8 --33 32
Genesis Energy Limited FY25 Q3 Performance Report 7.
Prices, volumes and financials in this report are unaudited and subject to change. Reported numbers have been rounded and might not appear to add or multiply.

FY25 Q3 Appendix: Retail Segment
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
FY22
Q1
Q2Q3Q4FY23
Q1
Q2Q3Q4FY24
Q1
Q2Q3Q4FY25
Q1
Q2Q3
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)
30,000
40,000
50,000
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
Q2Q3Q4FY23
Q1
Q2Q3Q4FY24
Q1
Q2Q3Q4FY25
Q1
Q2Q3Q4
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
Q2Q3
Gas Sales Volume (PJ)
Quarterly Resi Sales VolumesQuarterly SME Sales Volumes
Quarterly C&I Sales VolumesRolling 12-month Sales Volume (RHS)
Genesis Energy Limited FY25 Q3 Performance Report 8.
Prices, volumes and financials in this report are unaudited and subject to change. Reported numbers have been rounded and might not appear to add or multiply.

FY25 Q3 Appendix: Wholesale Segment
0
1,000
2,000
3,000
4,000
5,000
JanFebMarAprMayJunJulAugSepOctNovDecJanFebMar
New Zealand Daily Storage (All Generators, GWh)
Long Run Average Storage12 Month Storage
0
100
200
300
400
500
600
700
800
900
JanFebMarAprMayJunJulAugSepOctNovDecJanFebMar
Tekapo Storage vs. Long Run Average (GWh)
Long Run Average Storage12 Month Storage
0
50
100
150
200
250
JanFebMarAprMayJunJulAugSepOctNovDecJanFebMar
Waikaremoana Storage vs. Long Run Average (GWh)
Long Run Average Storage12 Month Storage
0
1
2
3
4
5
6
JanFebMarAprMayJunJulAugSepOctNovDecJanFebMar
Tongariro Generation (GWh/Day)
20 Year Average7 Day Rolling Average
Genesis Energy Limited FY25 Q3 Performance Report 9.
Prices, volumes and financials in this report are unaudited and subject to change. Reported numbers have been rounded and might not appear to add or multiply.

FY25 Q3 Appendix: Wholesale Segment
$50
$100
$150
$200
$250
$300
$350
Jun-22Sep-22Dec-22Mar-23Jun-23Sep-23Dec-23Mar-24Jun-24Sep-24Dec-24Mar-25
ASX Futures Spot Pricing ($/MWh)
1-Year Contract2-Year Contract3-Year Contract
0
500
1,000
1,500
2,000
2,500
3,000
FY21
Q1
Q2Q3Q4FY22
Q1
Q2Q3Q4FY23
Q1
Q2Q3Q4FY24
Q1
Q2Q3Q4FY25
Q1
Q2Q3
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
$180
FY23 Q1Q2Q3Q4FY24 Q1Q2Q3Q4FY25 Q1Q2Q3
Portfolio & Thermal Fuel Costs
Weighted Average Fuel Cost - Thermal ($/MWh)
Weighted Average Fuel Cost - Portfolio ($/MWh)
Renewable Contribution to Total Generation (%)
Genesis Energy Limited FY25 Q3 Performance Report 10.
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.

FY25 Q3 Appendix: Kupe Segment
$50
$60
$70
$80
$90
$100
AprMayJunJulAugSepOctNovDecJanFebMar
Brent Crude Oil Spot Price (USD/bbl)
12 Months to Mar 2412 Months to Mar 25
0
2
4
6
8
10
12
0
1
1
2
2
3
3
4
FY22
Q1
Q2Q3Q4FY23
Q1
Q2Q3Q4FY24
Q1
Q2Q3Q4FY25
Q1
Q2Q3
Kupe Gas Sales Volume (Genesis Share, PJ)
Quarterly Sales VolumeRolling 12 Months Sales Volume (RHS)
0
50
100
150
200
250
300
350
0
20
40
60
80
100
120
FY22
Q1
Q2Q3Q4FY23
Q1
Q2Q3Q4FY24
Q1
Q2Q3Q4FY25
Q1
Q2Q3
Kupe Oil Production Volume (Genesis Share, kbbl)
Quarterly Production VolumeRolling 12 Month Production Volume (RHS)
Genesis Energy Limited FY25 Q3 Performance Report 11.
Prices, volumes and financials in this report are unaudited and subject to change. Reported numbers have been rounded and might not appear to add or multiply.

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
Retail Sales EcotricitySales of electricity to Ecotricity customers
Wholesale 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
Wholesale 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
BottledLPGSalesRepresents45kgLPGbottlesales
SME& OtherBulkLPGsalesRepresentsSMEandotherbulkandthirdpartydistributors
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 Q3 Performance Report 12.
Prices, volumes and financials in this report are unaudited and subject to change. Reported numbers have been rounded and might not appear to add or multiply.

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 recommendGenesis/Frankto yourfamily/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)
LPGCustomerConnectionsDefinedasnumberof customers
GrossCustomerChurnDefinedasresidential customersinstigatinga traderswitchorhomemove
NetCustomerChurnDefinedaspercentage of residential customers that finalise in a period.
Resi,SME,C&IResidential,smallandmediumenterprisesandcommercial& industrialcustomers
B2BBusinessto Business,includingbothSMEandC&I
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 corporateallocation costs and
Technology& Digital cost centre)
Genesis Energy Limited FY25 Q3 Performance Report 13.
Prices, volumes and financials in this report are unaudited and subject to change. Reported numbers have been rounded and might not appear to add or multiply.

Glossary – Operational metrics
Wholesale
Electricity Financial Contract Purchases – Wholesale
(GWh)
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 –Wholesale Price
($/MWh)
Average price paid for Electricity Financial Contract Purchases – Wholesale
Electricity Financial Contract Sales – Wholesale (GWh)Settlement volumes of generation hedge sales, including exchange traded and OTC contracts. Excludes PPAs, active trading, Financial Transmissions Rights (FTRs)
and Cap/Collar/Floor contracts
Electricity Financial Contract Sales – Wholesale Price
($/MWh)
Average price paid for Electricity Financial Contract Sales – Wholesale
Generation Emissions Carbon emissions due to coal and gas electricity generation
Rankine OutputElectricity generated in the Huntly Rankine units
Rankine’sFuelledbyCoal(%)Theproportionof coalusedin theRankineunits
Total Coal Purchases (PJ)Coal purchases have been converted from tonnes to PJ using the shipments’ Calorific Value
WeightedAverage Gas Burn Cost ($/GJ)Totalcost of gas burntdivided bygeneration fromgas firedgeneration, excludingemissions
CoalUsedIn InternalGeneration(PJ)Resultsmayberevisedtoreflect changesin coalkilotonnesto PJconversionrateandvolume methodology.
WeightedAverage CoalBurn Cost ($/GJ)Totalcostof coalburntdivided bygenerationfrom coalfired generation,excludingemissions
Operational CoalStockpile– closing balance (kt)The coalstockpile closingbalance intonnesat 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.
Powerpurchaseagreements
Electricity (GWh)Energypurchasedthroughlongtermagreementswithgenerator
AveragePriceReceivedforGeneration- GWAP
($/MWh)
Pricereceivedat productionnode
Corporate
Total RecordableInjuries12-monthrollingTotalRecordableInjuries including LostTimeInjuries, RestrictiveWorkInjuries 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
OilProductionProduction of crude oil
OilPricerealised(USD/bbl.)Theunderlyingbenchmarkcrude oilpricethat is usedto setthepricefor crudeoilsales
LPG ProductionProduction of LPG
Genesis Energy Limited FY25 Q3 Performance Report 14.
Prices, volumes and financials in this report are unaudited and subject to change. Reported numbers have been rounded and might not appear to add or multiply.

Investor relations enquiries
Dan Dillane
Group Treasurer
+64 21 501 235