Genesis Energy Limited – Strategy & Earnings Growth On Trac

MARKET RELEASE
Date: 26 November 2025
NZX: GNE / ASX: GNE
Genesis Energy Limited – Strategy and Earnings Growth on track

Genesis Energy (NZX/ASX: GNE) is hosting its 2025 Investor Day today in Taupō, New Zealand,
demonstrating that strategy delivery and earnings growth are on track. Genesis uniquely combines
demand-led growth, strong renewables growth, and unmatched energy security across all hydro and
wind cycles. The Company’s focus remains on delivering ongoing margin quality, cost discipline and
strong capital management.

Highlights

- Growing renewable generation pipeline: Anchored by its three hydro schemes, Genesis now
has a 2.5-gigawatt pipeline of new asset development in place. 500MW of s olar build on track,
larger wind and BESS pipeline outlined. Further pipeline growth is expected.

- Firming long portfolio: Confirmation that Genesis can firm its current and future customer
position across all hydro and wind scenarios, out to FY35 and beyond. Fuel flexibility means
Genesis is fuel long for firming and able to take advantage of all possible gas market scenarios
over next five years . This, combined with the Huntly Firming Options mean Huntly is cash
positive in all modelled scenarios out to FY35.

- Large customer position: Genesis’ 500,000 customers are expected to deliver demand growth
of around 2% p.a. over the next decade, supporting rational investment in new renewable
generation and the monetisation of growing distributed energy (now 30,000 customers).

- Capital : Improving free cash flow driven by Gen35 delivery , a disciplined capital plan and
funding tool kit options underpin the current capital program me , while maintaining BBB+ credit
metrics long term with o ptions available to accelerate growth further .

- Shareholder returns: In line with investor day 2023 and commentary at FY24 and 25 annual
shareholder meetings , the Board confirms the current dividend policy as appropriate for the
FY25-28 phase of Gen35 execution. The Board will r eview the dividend annually as part of its
normal governance processes .

The presentation materials are attached and will be available on Genesis Energy's website at
www.genesisenergy.co.nz/investors. The investor day live stream can be accessed at
https://www.livenz.tv/genesisinvestorydaypublic

ENDS

For investor relations enquiries, please contact:
David Porter
Investor Relations Manager
M: 020 4184 1186

For media enquiries, please contact:
Graeme Muir
Group Manager Communications
M: 02 7 202 4885

About Genesis Energy:

Genesis Energy (NZX: GNE, ASX: GNE) is a diversified New Zealand energy company. Genesis sells
electricity, reticulated natural gas and LPG and is one of New Zealand's largest energy retailers with
over 520,000 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 NZ$3.7 billion during the 12 months ended 30 June 2025. More information
can be found at www.genesisenergy.co.nz.

---

Tokaanu Power Station

Genesis Energy – Investor day 2025 2.
This presentation has been prepared by Genesis Energy
Limited (“Genesis Energy”) for information purposes only.
This disclaimer applies to this presentation. For these
purposes, “presentation” means this document and the
information contained within it, as well as the verbal or written
comments of any person presenting it.
This presentation is 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 presentation contains forward-looking statements.
Forward-looking statements 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 presentation may 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 presentation 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 presentation.
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.
EBITDAF, free cash flow and ‘normalised’ balances are non-
GAAP measures. These non-GAAP measures should not be
considered in isolation from, or construed as a substitute for,
other financial measures determined in accordance with
GAAP or NZ IFRS.
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 presentation
should be read in conjunction with Genesis Energy’s
Integrated Report for FY25 and 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
presentation, 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
presentation. This presentation does not constitute financial,
legal, investment, tax or any other advice or a
recommendation and nothing in this presentation should 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 presentation at any time
after its release, whether as a result of new information, future
events or otherwise.
Disclaimer

Master of
Ceremonies
Matt Osborne
Chief Corporate Affairs Officer
Tekapo A

Genesis Energy – Investor day 2025 4.
PresenterAgendaMinsStart
Registration1511:00
Opening Karakia511:15
Matthew OsborneWelcome1011:20
Barbara ChapmanIntroduction from the Chair of the Board1511:30
Ed HydeGen 35 - Getting Future Fit2011:45
Buffet Lunch in the Cellar4512:05
Tracey Hickman
Stephen England-Hall
Gen 35 – Accelerating Transition4012:50
Julie AmeyCapital Management2013:30
Malcolm JohnsGen 35 – The Future State2013:50
Executive TeamQ&A5014:10
Afternoon Tea1515:00
Artificial Intelligence, Biomass,
Electrification, Culture &
Community
Breakout Area10515:15
Free time4517:00
Join us for Drinks and Canapés4517:45
Angela OgierDinner conversation on Fuels3018:30
Buffet Dinner9019:00
AgendaMinsStart
Check-in & PPE Gear Collection (Library)From 06:15
Board Buses (Lower Hilton carpark)1507:15
Buses Depart – Taupō6007:30
Rangipo Site Tour8008:30
Buses depart – Rangipo4009:50
Arrive Lake Rotoaira, Opataka
Engage with local iwi, Ngāti Tūwhretoa on the cultural significance and
importance of Lake Rotoaira over morning tea.
4510:30
Buses depart Lake Rotoaira1011:15
Arrive Tokaanu1511:25
Site overview & safety briefing1511:40
Tokaanu Site Tour3511:55
Lunch at Tokaanu and Hydro talk6012:30
Buses depart - Tokaanu6013:30
Bus back to Hilton, Lake Taupō-14:30
Agenda
DAY 1DAY 2

Introduction
Barbara Chapman
Chair of the Board
Poutu Intake

Genesis Energy – Investor day 2025 6.
Today’s presenters
4. Accelerated Transition –
Portfolio and trading
Stephen England-Hall
Chief Revenue Officer
2. Getting Future Fit
Ed Hyde
Chief Transformation &
Technology Officer
3. Accelerated Transition –
Renewables and Flexibility
Tracey Hickman
Chief Operating Officer
6. The Future State
Malcolm Johns
Chief Executive
5. Capital Management
Julie Amey
Chief Financial Officer
Master of Ceremonies
Matthew Osborne
Chief Corporate Affairs Officer
1. Introduction
Barbara Chapman
Chair of the Board

Genesis Energy – Investor day 2025 7.
Gen35 Investor value proposition
Genesis 2.0: Energy that never stops!
Growing
Shareholder
Returns
Growing
Shareholder
Returns
Customer
Renewables
Flexibility
Empowering the
customer led transition
Displace thermal + growth
8,300 GWh
Net Zero 2040
Portfolio flexibility
1,300 MW
Margin quality
Strong capital
management
Cost discipline
Clear delivery focus
Market leading integrated portfolio
We’re delivering margin quality, cost discipline and strong capital management across an integrated portfolio
with a large customer book, growing renewables, market leading flexibility

Genesis Energy – Investor day 2025 8.
COUNTRY
SECTOR
COMPANY
NET ZERO 2050
60% 95% 100%
ELECTRIFICATIONRENEWABLESRELIABILITY
COUNTRY
SECTOR
COMPANY
100%
RELIABILITY
95%
RENEWABLES
60%
ELECTRIFICATION
Our Gen35 strategy
Global energy transition: more electrons, more energy storage and data driven systems
CUSTOMER
Empowering the
customer-led
transition
RENEWABLES
Displace thermal +
growth 8,300 GWh
by 2035
Net zero 2040
FLEXIBILITY
Huntly Portfolio
1,300 MW by 2035

Genesis Energy – Investor day 2025 9.
Government energy package response
Genesis is well-positioned to respond to the Government Energy Package through its strategic
investments in Huntly’s capacity and a potential gas storage opportunity
Long duration:Investment to
extend the life of Huntly Power
Station & actively exploring options
to build a new peaking plant (Unit 7)
Short duration:Huntly BESS 1
construction underway, plans for
BESS 2
Dispatchable firming capacity
Genesis’ thermal assets are all
capable of running on LNG, which
would benefit from LNG imports in
the long-term
Prosecution of biomass as an
alternative fuel source enhances
fuel security and flexibility
Genesis has secured exclusive
rights to negotiate up to 10 PJ gas
storage at Tariki
Fuel securityFirming products
Increased availability of Huntly risk
management products will improve
access to firming capacity for
independent retailers, generators
and industrial end users
Renewables
Executing near-term solar pipeline
to free up Huntly’s capacity for
reserve operations
Actively exploring and in consenting
phase for onshore wind
opportunities
Early discussions for an offshore
wind opportunity
Market security and more affordable electricity for New Zealand

HORIZON 1
Getting Future Fit
Ed Hyde
Chief Transformation & Technology Officer
Lauriston Solar Farm

Genesis Energy – Investor day 2025 11.
We’re continuing to deliver against our Gen35 strategy
What we said
Delivery and ongoing focus
Focused on sweeping our
own front yard at a group
and business unit level
Focused on electrifying New Zealand
one customer at a time, activating
Gen35 at a business unit level and
monetising NZ's energy transition
Moving past the transition
and into the next generation
of Genesis
Reset retail
and
set up the right
foundations
Long term
earnings growth
Delivery of
mid to upper
$500m
EBITDAF in FY28
Building pipeline,
capability and
improve
productivity
Horizon 1
Horizon 2
‘Accelerated Transition’
Horizon 3
‘The Future State’
FY35
Horizon 1
‘Getting Future Fit’
FY24

Genesis Energy – Investor day 2025 12.
Horizon 1 achieved – future fit for growth through to 2035 with solid foundations
Demonstrated resilience against external market and supply chain challenges beyond our control
Technology transformations are well underway, driving the next phase of growth in digital capability
RENEWABLESFLEXIBILITYCUSTOMER
1
2
3
Key messages
New
renewables
and
flexibility
Simple and
efficient
foundations
Resilient and
forward-looking
strategy

Genesis Energy – Investor day 2025 13.
Horizon 1 - foundations established for growth
From strength to momentum
Margin growth
Customer
Thermal displacement
Renewables
Monetising flexibility
Horizon 1
Monetisation underway; flexibility enhanced
2-year and 10-year Huntly Firming Options
executed
First 100 MW / 200 MWh BESS under
construction
Gas storage rights on Tariki
Biomass supply options progressed
Additional fuel security secured via coal and gas
contracts
Robust pipeline established
Lauriston Solar Farm COD and Edgecumbe
Solar Farm FID achieved
Internal capability established and pipeline
accelerated via strategic acquisitions
Invested in existing assets to enhance efficiency
and resiliency (Waikaremoana, Tekapo and
Tongariro upgrades)
Generation sources diversified (Tauhara PPA
operational, Kaiwaikawe PPA secured – 2027)
Flexibility
Retail business simplified and reset
~200 FTE reduction
All brands unified into a single Genesis brand
Broadband launched
>50 MW of distributed demand response
Portfolio reshaped for long-term growth

Genesis Energy – Investor day 2025 14.
0
20
40
60
80
100
-100
100
300
500
700
900
JulAugSepOctNovDecJanFebMarAprMayJun
GGM ($m)
Generation (GWh)
HydroPPAsGasRankine HFOP50 hydroElectricity GGM ($m)
-
40
80
120
160
FY25FY27FY29FY31FY33FY35
2023 Forecast2024 Forecast2025 Forecast
-
5
10
15
20
25
FY25FY27FY29FY31FY33FY35
2023 Forecast2025 Forecast
FY25 P50 asset generation and electricity group gross margin by month (GWh, $m)
...successfully navigated with a resilient and flexible portfolio
Fuel diversity and management capacity
uplift now enables greater portfolio agility
amidst evolving fuel market
1
2
1
Portfolio designed to optimise across wet
and dry hydro periods
2
Challenging market conditions...
Portfolio set up to withstand challenging market conditions
Huntly’s existing fuel flexibility ensures earnings resiliency amidst volatile market conditions
Horizon 1
Forecast market gas
supply decreased
Market gas production forecasts (PJ p.a.)
Decreased production
expectations reduced
portfolio fuel supply
Kupe production forecasts (PJ p.a.)
Jan-24 Apr-24 Jul-24 Oct-24 Jan-25 Apr-25 Jul-25 Oct-25
National hydro inflow – monthly variation from average
(TWh / Month)
Inflows 1.1 TWh
below average
Inflows 2.6 TWh
below average
FY25 evidenced
significant dry-spells

Genesis Energy – Investor day 2025 15.
Transformation to a focused, simplified business is well underway
New capabilities accessed to deliver on long-term goals
Horizon 1
H1 prioritiesProgress
Platform
Delivery
• Digitise core services to drive efficiency
• A simpler, faster and cheaper landscape
• Ability to leverage world class partners
Data
• Deliver across time, cost and quality
dimensions
• Focused on billing / CRM, trading capability
and general ledger
• Leveraging the strengths of others – less in-
house
• Using data to enhance customer lifetime
value and CX
• Data to optimise our generation and fuels
portfolio
• Enabling smarter decision making across
supply and demand
3 core data platform changes underway
Outsourced IT Operations
Leveraging international partners
Partnering model has reshaped delivery with
clear improvements
Clear improvements in time, cost, and quality
Transformation program on track
Significant data preparatory work to enable AI
Early AI use case implementations
demonstrating value
Budget on track with
re-phased spending
$145m major digital projects opex($m)
(2)
15
35
63
32
FY24AFY25AFY26EFY27E
HistoricalForecasts
Notes: (1) Forecasts are subject to phasing changes; (2) Excludes stay in business technology spend of ~$15m per annum.
(1)

Genesis Energy – Investor day 2025 16.
Major technology projects being delivered
Technology transformations will step up digital capability
Horizon 1
Recurring annual
cost benefits
(2)
Gross margin
uplift
(1)
Commercial
Improvements
(2)
• Simplifies and modernises core retail
systems
• Lowers costs and accelerates efficiency,
innovation and customer autonomy
• Go-live achieved with initial customers
transitioned to Gentrack 2.0 platform
• Release 2.0 and 2.1 build underway
(Complex Electricity and Gas / LPG)
• Modernises finance through a cloud-based
platform to unlock greater value from future
system upgrades
• Streamlines processes to enhance
reporting and analytics
• Workday Core Finance System
Implementation Underway – on track for
Q3 FY26
• Optimises portfolio and commercial
decision-making in an increasingly volatile
energy market
• New trading, risk-management and market
and portfolio modelling systems will
improve visibility of risk
• New derivatives tooling complete
• Energy Trading Risk Management and
Market Modelling being implemented
calendar year 26
Wholesale markets programme
Notes: (1) Project spend in FY26 and FY27, moving to SIB technology spend from FY28;(2) Project spend expected to finish in FY26. Programs move into SIB technology spend from FY27.
General ledger refreshBilling and CRM re-platform

Genesis Energy – Investor day 2025 17.
An efficient, future fit and forward-looking business
We are growth ready...
Simple and efficient
foundations
• Strong core business
• Efficient retail operations
New renewables
and flexiblity
• Monetisation of capacity
• Enhanced flexibility
Resilient and forward-
looking strategy
• New ways to connect with customers
• Continued digital growth
Horizon 1
New
renewables
and
flexibility
Simple and
efficient
foundations
Resilient and
forward-looking
strategy

HORIZON 2
Accelerated transition
Tracey Hickman
Chief Operating Officer
Renewables and flexibility
Lauriston Solar Farm

Genesis Energy – Investor day 2025 19.
Portfolio
value &
flexibility
Proven
development
capability
Proactive
investment
strategy
Established development capability, exemplified by progress on pipeline delivery
Monetising flexibility and driving value through proactive investments in our generation portfolio
Enhancing resilience today whilst strategically positioning to unlock value in an evolving energy market
1
2
3
RENEWABLESFLEXIBILITY
Key messages

Genesis Energy – Investor day 2025 20.
Delivering
Strong internal development capability built by attracting leading local and international talent
Horizon 2
RENEWABLES
Development Team
O&M TeamFuels Team
Well-resourced development team with proven capabilities...
End-to-end
project
consenting
and delivery
Collective
development
experience
Local expertise
and best
practice
Experienced full-
time employees
Jurisdictions of
international
experience
Projects
developed
globally by
our team
...and a dedicated fuels strategy and O&M team
Experienced
full-time
employees
Total FTE
across power
schemes
Jurisdictions of
international
experience
Oil & gas
industry
experience
Asset start
reliability
Total
generation
capacity
(1)
17.5 new FTEs added to the Development
team since November 2023
Fuels team set up for portfolio optimisation and
long-term value creation
Committed, highly skilled, in-house engineering,
O&M teams on our generation sites delivering
strong levels of plant reliability
Notes: (1) Name plate capacity.

Genesis Energy – Investor day 2025 21.
Demonstrable delivery
Delivering significant progress on development pipeline
Horizon 2
RENEWABLES
Notes: (1) Wind pipeline includes Genesis owned options and Yinson exclusivity options; (2) Based on average time from announcement to FID for recent solar and wind projects.
35
12
-
5
10
15
20
25
30
35
40
Market AverageGenesis Average
Market AverageGenesis Average
Targeted acquisition
strategy drives 3x
faster FID conversion
than the market
(2)
-
200
400
600
800
1,000
1,200
1,400
1,600
SolarWindBESS
Nov-23Nov-25
+295MW+1,000MW+400MW
Genesis development pipeline progress since Nov-2023 (MW)
(1)
Time from project announcement to FID (Months)

Genesis Energy – Investor day 2025 22.
Track record across project identification, acquisition, development and construction
Delivery track record
Horizon 2 – Renewables
Project identification and acquisitionProject delivery
Capacity: 271 MW
DC
Estimated FID: Mid FY27
Estimated COD
(1)
: Mid CY29
Capex: $470m – 490m
Edgecumbe Solar Farm
1
Rangiriri Solar Farm
2
Huntly BESS Stage 1
(2)
3
Capacity: 100 MW / 200 MWh
Estimated FID: FY27
Estimated COD
(1)
: FY28
Capex: $110 –120m
Capacity: 136 MW
DC
FID: Delivered
Estimated COD
(1)
: Early FY28
Capex: $236m
Huntly BESS Stage 2
(2)
4
Notes: (1) Commercial operations date; (2) Illustrations shown are conceptual only.
Development with a significant cost advantage
Lowest cost BESS in the NZ market
Future-proofed capacity
Thermal optimisation and enhanced portfolio value
Wholesale market arbitrage
Optimal solar resources with high capacity factors
Premium solar proposition with grid connection
Strategic North Island locations near high demand centres
Complements and accelerates Huntly BESS 1.0 & 2.0
Demonstrates Genesis’ competitiveness for quality assets
RENEWABLESFLEXIBILITY
Capacity: 100 MW / 200 MWh
FID: Delivered
Estimated COD
(1)
: Early FY27
Capex: $135m

Genesis Energy – Investor day 2025 23.
Genesis’ wind pipeline provides optionality into Horizon 3
Driving optionality into wind development strategy
Horizon 2 – Renewables
Wind pipeline – broad range of optionsCastle Hill wind farm
Castle Hill Meteorological Mast
Development statusCapacityProject
Discretionary growth opportunities: ~500 MW
• Core windfarm consents
• Land secured
• Connection underway
300 MW
Castle Hill wind
farm
• Early stage prospecting~200 MW
Early-stage wind
prospects
PPA: 73 MW
• Under construction73 MW
Kaiwaikawe wind
farm
Joint Equity/PPA: ~1,000 MW
• Early-stage equity options~1,000 MW
Yinson wind
pipeline
World class wind resource with 10 years of supporting data with average
capacity factor above 50%
Working with Transpower on connection arrangement
Clear route to commercialisation
MOU with Taranaki Offshore Partners to explore offshore wind
opportunities
RENEWABLESFLEXIBILITY

Genesis Energy – Investor day 2025 24.
Agile development pipeline that is continually evaluated against Genesis’
capital allocation framework
Delivering an agile and flexible development strategy
Horizon 2 – Renewables
Genesis’ development pipeline
CapexStatusCapacity / DurationProject
$104m63 MWOperational
$104m
(1)
Operating63 MW
DC
Lauriston solar farm
$371m236 MWCommitted growth capex
$135mUnder construction100 MW / 2HrsHuntly BESS stage 1
$236m
FID delivered136 MW
DC
Edgecumbe solar farm
$1,000 – 1,080m
638 MWProgressed growth opportunities
(2)(3)
$110 –130m
Consented100 MW / 2HrsHuntly BESS stage 2
$100 - 120m
Consented67 MW
DC
Leeston solar farm
$470 – 490m
Consented271 MW
DC
Rangiriri solar farm
$320 - 340m
Fast-track consenting200 MW
DC
Foxton solar farm
$820 – 1,100m~550 – 600 MWDiscretionary growth opportunities
$820 – 1,100m
Under active reviewN/AGas storage
Under active reviewN/ABiomass
Under active review~50 – 100 MWHuntly unit 7 peaker
Consented300 MWCastle hill wind farm
Early-stage prospecting~200 MWEarly-stage wind prospects
Early-stage prospectingN/AEarly-stage hydro enhancement
136 MWPPA
Operating63 MW
(4)
Tauhara geothermal
Under construction73 MWKaiwaikawe wind farm
~1,000 MWJoint Equity/PPA
Early-stage equity options~1,000 MWYinson wind pipeline
Notes: (1) Project financed with ~$13m equity funding by Genesis; (2) Genesis is targeting 500 MW of solar opportunities; (3) Huntly Rankine Extension included in SIB capex; (4) Genesis’ share.
RENEWABLESFLEXIBILITY

Genesis Energy – Investor day 2025 25.
Driving renewables value unlock
Strategic solar and wind investments replace baseload generation from hydro
and thermal assets, enhancing asset flexibility
Horizon 2 – Renewables
Impact of renewables on Genesis’ portfolio
Notes: (1) GWAP refers to generation weighted average price. TWAP refers to time weighted average price.
Genesis assets’ price participation (%)
GWAP
(1)
Generation volume




Average
100%
20152017201920212023202520272029203120332035
GWAP / TWAP
(1)
%
Rankines
(2)
Hydro
Geothermal
Solar
U5
Wind
Hydro gains flexibility
as intermittent
renewables replace
baseload generation
Huntly assets transition to
firming, capturing higher spot
prices on lower volumes
ActualsForecast
Higher price capture from firming assets offsets the impact
of lower price capture from intermittent renewables
Participation rate above 100% indicates
higher than average price capture
Based on gas storage
RENEWABLESFLEXIBILITY

Genesis Energy – Investor day 2025 26.
Horizon 3: Future Fit
...For which Huntly is well-positioned
Unlocking growing value pools through Huntly
We are making tangible progress against Horizon 2 targets to maximise value
from flexible generation across all horizons
Horizon 2 – FlexGen
Market value of flexibility reward pool ($m p.a.)Huntly portfolio energy & capacity coverage
Peak
Demand
Constraints
Dry Year
Constraints
Minutes /
Hours
Days /
Weeks
Months /
Years
Year-to-
year
Timeframe
Current
Portfolio
HLY U5 /
U6
HLY U5 /
Rankines
HLY U5 /
Rankines
Rankines
(Coal /
Gas)
Rankine
Investments
Capacity
unlock via
renewables
investment
BESS 1.0
Gas storage
& flexibility /
HLY Unit 7
Biomass
Value Capture
Market
Spot Market
Spot &
Capacity
market
Capacity
Market
BESS 2.0
Potential to accelerate
Significant value capture opportunity emerging for firming...
1
3
2
4
1
3
2
4
Growing intermittent renewable generation is
increasing firming value across all durations,
particularly minutes/hours and days/weeks
Horizon 2Horizon 3
-
200
400
600
800
1,000
1,200
20262027202820292030
Minutes / HoursDays / WeeksMonths / YearsYear-to-year
Source: Concept Consulting and Genesis internal views.
FLEXIBILITY

Genesis Energy – Investor day 2025 27.
3
rd
Unit
240 MW
Capacity
Monetising flexibility for the next decade
Significant progress in monetising Huntly’s capacity and ensuring Rankine
units availability to 2035
Horizon 2 – FlexGen
Monetisation of Rankine units
235 MW of Rankine capacity monetised through HFO contracts
Notes: (1)HFO holders pay an annual premium to secure the option and must order fuel to provide the energy required for their capacity calls;(2)Genesis has discretion to turn on the third Rankine (“3
rd
Unit”) if it is economically feasible.
De-risked coal
management costs
via pass-through
mechanics
(1)
Genesis’ Internal HFOAllocated to Huntly Firming Options (“HFOs”)
Back-up for long HFOs, Genesis’ portfolio
(2)
& winter products
Stabilised earnings
to 2035 across a range of
hydrological conditions
Further monetisation
opportunities
as Genesis customer
baseload transitions to
renewables
2
nd
Unit
240 MW
Capacity
Currently uncommittedGenesis Internal HFO2-year HFOHFO Counterparty 1HFO Counterparty 2HFO Counterparty 3
FLEXIBILITY
1
st
Unit
240 MW
Capacity
Further capacity available
Further capacity becomes
available to the market post
expiration of 2-year HFOs
Further
opportunities
Potential for
additional winter
capacity products

Genesis Energy – Investor day 2025 28.
Gas flexibility is key to managing challenges and opportunities
Huntly’s flexible electricity generation and flexible gas supply are essential elements in
a secure energy transition for New Zealand
Horizon 2 – FlexGen
Key value driver
Value impact of gas
storage
(Under all market
scenarios)
Value impact of
LNG import facility
(Under all market
scenarios)
Gas market scenario
Huntly portfolio
High price / low
supply
(e.g. >$40/GJ)
Low price / high
supply
(e.g. <$5/GJ)
• NZ’s most efficient gas-fuelled electricity generator
and costs ~25% less than any other gas generator

Unit 5
Existing assets
• Opportunistic use of gas – shifting to highest value
use (generation vs. customer portfolio)

Unit 6
• Fuel diversity creates optionality to buy more gas
or utilise more coal / biomass

Rankine units
• Huntly has existing grid connection and site to
build peaking plant if commercially viable

Unit 7
Pipeline assets
Huntly’s value capture opportunities across various gas market scenarios
High
Relative value
capture opportunity
LowMedium
GNE is actively exploring
opportunities (e.g. Tariki)
FLEXIBILITY

Genesis Energy – Investor day 2025 29.
Proven development
capability
• Local and global best practice
• End-to-end project delivery
Growing portfolio value
and flexibility
• Monetisation of flexibility
• Capitalising on fuel diversity
Proactive investment
strategy
• Enhancing generation resilience
• Agile in an evolving energy market
Established capability, flexibility and continued proactivity
We are accelerating...
–
Horizon 2
Portfolio
value and
flexibility
Proven
development
capability
Proactive
investment
strategy

HORIZON 2
Accelerated transition
Stephen England-Hall
Chief Revenue Officer
Portfolio and trading
Moawhango Dam

Genesis Energy – Investor day 2025 31.
Residential
Residential
Residential
Commercial
Commercial
Commercial
Industrial
Industrial
Industrial
Transport
Transport
Transport
40
43
50
202520282035
Electricity is a growth market
Underlying organic growth and increasing electrification in mass
market and transport sectors drive Genesis’ view of demand
Horizon 2
New Zealand forecast electricity TAM
(1)
(TWh)
CUSTOMER
Genesis
opportunity
• Total electricity demand in
New Zealand is projected to
rise by ~25% from 2025 to
2035
• Growth is driven by:
EV uptake
Data centre growth
Commercial & industrial
electrification
• Genesis plans to capitalise
on these shifts by targeting
high-margin and high-growth
segments
Sources: EDGS 2024 Scenarios. Genesis internal analysis.
Notes: (1) Total addressable market. Measured using Grid Exit Point (GXP) demand data.
+0.4%
+3.1%
+2.0%
+18.9%
CAGR

Genesis Energy – Investor day 2025 32.
Driving operational cashflow uplift through value over volume
Integrating customer, portfolio and trading teams under one cost centre to optimise GGM
(1)
Positioned for transition – Resilient, flexible and profitable
One commercial group - different roles, one objective - total portfolio value
Notes: (1) Group gross margin.
CUSTOMER
Key messages
Portfolio
Balancing
Supply &
Demand
Trading
Spot,
Derivatives,
Hedging
Customer
Homes,
Businesses,
Commercial &
Industrial
1
2
3

Genesis Energy – Investor day 2025 33.
Already delivering, with more to come
Commercial leadership team delivered Horizon 1, now executing Horizon 2
Horizon 2
New trading &
analytics tools
Genesis
unified brand
Local and global
best practice
Reset &
simplified Retail
New trading &
capacity products
Integrated
portfolio
People, people, people
RENEWABLES

Genesis Energy – Investor day 2025 34.
Driving OCF
(1)
uplift through value over volume focus
Driving demand growth: Electrifying New Zealand, one customer at a time
Horizon 2
Delivering value through
every channel
GGM uplift through
leveraging portfolio
flexibility
Lifetime customer value
Continuous productivity
uplift
2
34
1
OCF
(1)
uplift
Notes: (1) OCF refers to operational cashflow.
CUSTOMER

Genesis Energy – Investor day 2025 35.
Sharper insight, stronger returns
• AI assisted forecasting
• Reduced MM cost
• HFOs
• Active trading strategies
Finding the highest margin
channel to market
• Securing new offtakes
• Aligning hedges and assets
• Flexibility monetisation
• Dry year resilience
Turning scale into
sustained margin
• Single brand strategy – lifting average
netback
• Efficiencies through digital transformation
• Adjacency growth
Portfolio
TradingCustomer
From strong retail foundations to an integrated value engine
We’ve connected Trading, Portfolio and Customer to unlock end-to-end value and
lift our group margin position
Horizon 2
Pathway to mid to upper $500m EBITDAF by FY28
CUSTOMER
Notes: (1) EBITDAF estimates assume average hydrology.

Genesis Energy – Investor day 2025 36.
1,346
1,729
264
343
368
420
FY23FY25FY28
+$515
1,653GWh
$207/MWh
5,663GWh
$238/MWh
2,000GWh
$132/MWh
Customer
Wholesale
Market
Other fuels
$275/MWh
6,289GWh
Monetising
Flex
Shifting sales to
higher margin
channels
Quality growth through channel optimisation
Rebalancing sales to high-margin channels and monetising flexibility to lift portfolio value
Horizon 2
Notes: (1) FY23 and FY25 contracted revenues or FY28 forecast contracted revenues on sell position through Customer and Wholesale channels. Includes external sales only, not including joint venture profit share i.e. ChargeNet or Kupe.
Contracted (Sell) Revenue
(1)
($m)
Unlocking value through higher-
margin channels
• $515 m uplift FY23–25 driven by channel mix
optimisation
• 16% improvement in realised price since FY23
through disciplined customer selection and stronger
alignment with market value
• Shifting sales to higher-margin customer segments
and monetising wholesale flexibility
• Next growth horizon aligns customer demand with
renewables to maximise portfolio value
CUSTOMER

Genesis Energy – Investor day 2025 37.
934
1,203
175
11
83
FY23A Margin quality Simplification Ecotricity FY25A Margin quality Adjacent value pools Digital transformation FY28E
+22%
+10-15%
Future fit foundations delivering strong netback growth
Re-engineered retail platform unlocking quality growth in netback
Horizon 2
Total netback for all fuels ($m)
Notes: (1) Achieved 67 FTE reduction in H1 FY2025, with 130 FTE reduction in FY2024.
Horizon 1: Future Fit
Reset cost, structure and systems
Horizon 2: Channel & portfolio monetisation
Optimising pricing, shape, and cost across one commercial portfolio
Leaner operating model:~200 core FTE reduction
(1)
Simplified business: core cost reduction through simplification: $11m
baseline opex out
Single Brand: unifying Frank, Ecotricity brands into Genesis
Customer Flex: 50MW added: pathway to 150MW established
Margin over volume: focus on margin quality: achieved though pricing
optimisation, portfolio shape & LPG
Grow adjacencies: extend relationships in broadband and other
opportunities
R2G2 benefits: lower cost to serve, unified platforms, digital workforce
CUSTOMER
$1.3bn
to
$1.4bn

Genesis Energy – Investor day 2025 38.
Earnings maximisation through unlocking flexibility
Strategic investments to replace baseload generation, enhancing asset
flexibility to maximise earnings
Horizon 2 – Renewables
Genesis assets’ price participation (%)
Notes: (1) GWAP refers to generation weighted average price. TWAP refers to time weighted average price.
Impact of renewables on portfolio
Portfolio
margin
GWAP
(1)
Generation
volume





Average
100%
20152017201920212023202520272029203120332035
GWAP / TWAP
(1)
%
Rankines
Hydro
Geothermal
Solar
U5
Wind
Hydro gains flexibility
as intermittent
renewables replace
baseload generation
Huntly assets transition to
firming only, capturing higher
spot prices on lower volumes
ActualsForecast
Participation rate above 100% indicates
higher than average price capture
Based on gas storage
Higher price capture from firming assets offsets the impact
of lower price capture from intermittent renewables
RENEWABLESFLEXIBILITY

Genesis Energy – Investor day 2025 39.
Trading
• Sharp insights and execution
• Monetised flexibility
Portfolio
• Integrated value engine
• Optimised channels
Customer
• Leveraging digital and data
• High brand equity
Portfolio
Balancing
Supply &
Demand
Trading
Spot, Derivatives,
Hedging
Customer
Homes, Businesses,
Commercial & Industrial
Positioned for resilient, flexible and profitable growth
We are ready to scale...
Horizon 2

Resilience through an accelerated transition
Capital
Management
Julie Amey
Chief Financial Officer
Waipipi Wind Farm

Genesis Energy – Investor day 2025 41.
Optimising margin quality and cost discipline through strategy, productivity and delivery
Ensuring strong capital management and quality investment decisions
Delivering EBITDAF growth and competitive shareholder returns
Key messages
Shareholder
returns
EBITDAF
growth
Balance
sheet
resilience
1
2
3

Genesis Energy – Investor day 2025 42.
Strong capital management
An enduring framework, with capital allocation prioritisation specifically targeting Gen35 Horizon 2
objectives to enable an accelerated transition
Capital allocationFunding toolkitOperating cash flows
Maximise risk-adjusted returns while maintaining our BBB+ rating
#
Reflects Genesis prioritisation of capital allocation during Gen35 Horizon 2 – from Getting Future Fit to an Accelerated Transition
Cost
discipline
Cost
discipline
Margin
quality
Margin
quality
Pipeline
projects
Pipeline
projects
4
Inorganic
investments
Inorganic
investments
5
Capital returnsCapital returns
6
Balance sheet
management
Balance sheet
management
1
Sustaining business
investment
Sustaining business
investment
2
Dividend
settings
Dividend
settings
3
Debt capacity
Partnerships /
joint venture
New equity
Asset
recycling
Contractual
offtakes
Capital Management

Genesis Energy – Investor day 2025 43.
Operating cash flow generation
Gen35 Horizon 1 and 2 delivering sustainable uplifts that grow EBITDAF and Operating Cashflows
Capital AllocationFunding ToolkitOperating Cash Flow
Capital Management
Notes: (1) FY25 OPEX normalised for non-routine costs of $16m and adjusted for temporary ramp up in digital investment of $18m to enable
like-for-like look through; (2) EBITDAF estimates assume average hydrology.
412
455
FY24 Actual FY25 Actual FY26 Guidance FY28 Outlook
775
864
FY24
Actual
FY25
Actual
Electricity Gas LPG Kupe FY28E
GGM
363
376
FY254
Actual
FY25
Actual
Gen35
Growth
Gen35
Productivity
FY28
Outlook
Real
Inflation FY28
Outlook
Nominal
Locking in the pathway to FY28 EBITDAF of mid to upper $500m
FY28 Group Gross Margin outlook (NZ$m)FY28 OPEX outlook (NZ$m)
1
EBITDAF growthEBITDAF growth
Cost disciplineCost discipline
Margin qualityMargin quality
$370m
to
$390m
FY28 EBITDAF outlook
(2)
(NZ$m)
1
2
(1)
Mid to
upper
$500ms
$455m
to
$485m
• Productivity uplifts
• Pricing / brand optimisation
1
• Customer adjacencies
• Flexibility monetisation
• Operational efficiencies
• Integration synergies
• Technology transformation
• Digital enablement
2
$940m
to
$970m

Genesis Energy – Investor day 2025 44.
Capital allocation
Gen35 Horizon 2 prioritisation ensures a strong foundation of resilience, reliability and returns
Capital AllocationFunding ToolkitOperating Cash Flow
Notes: (1) Net debt = total drawn borrowings, less cash, less fair value adjustments. Leverage = adjusted
net debt / reported EBITDAF (12 month preceding). Adjusted net debt = net debt less 50% of capital
bonds plus reported rehabilitation & restoration provision.
Sustaining business investmentSustaining business investment
2
Balance sheet managementBalance sheet management
1
Capital Management
Well-positioned for a Horizon 3 returns
proposition aligned with earnings growth
Dividend settingsDividend settings
3
Dividend settings for Gen35 Horizon 2
are currently considered to remain
appropriate
Prioritisation of consistent distributions is
a key shareholder value proposition
1,224
1,348
271
350
2.7x
2.6x
2.0x
3.0x
FY24AFY25AFY26E
Net DebtLiquidity headroomLeverage
79
86
-
20
40
60
80
100
120
140
160
FY24AFY25AFY26 Guidance
• Plant reliability
• Asset life extension
• Risk management
Stay-in-business (SIB) capex(NZ$m)
• Investment Grade BBB+ rating
• Working capital value realisation
• Volatility resilience with diversification
Net debt, liquidity and leverage
(1)
(NZ$m, x)
Includes Huntly
Rankine Life Extension
~$70 – 80m
annualised
average
$130m
to
$140m
Targeted
credit rating
range

Genesis Energy – Investor day 2025 45.
Capital allocation: sources & uses
Operating cashflow outlook for Horizon 2 is supplemented by a credible funding toolkit and
future cashflows to enable the acceleration of growth opportunities through the pipeline funnel
Sources & Uses
(1)
($m)
Capital AllocationFunding ToolkitOperating Cash Flow
High conviction projects with timing and
funding certainty
Committed growth
Optionality on project execution sequencing
and timing, with funding pathway
Progressed
growth opportunities
Credible investments, with potential for
acceleration subject to market conditions,
returns and funding options
Discretionary
growth opportunities
Capital Management
4a
4b
4c
Notes: (1) Indicative as at Nov-25; (2) Refer to development pipeline on page 27 for projects.
Pipeline Projects
(2)
Pipeline Projects
(2)
4
Operating
cashflow
Funding toolkit
Sustaining business
investment &
dividends
Committed
growth
Progressed
growth
opportunities
Discretionary
growth
opportunities
-$0.5bn$1.0bn$1.5bn$2.0bn$2.5bn$3.0bn
Sources
Uses
Thousands
Indicative FY26-FY28 Outlook
Supplemented by post
FY28 Operating Cashflows
Previous slide
Potential for acceleration

Genesis Energy – Investor day 2025 46.
Quality investment decisions
Multiple considerations ensure risk-adjusted returns are maximised across the Genesis portfolio
Our investment principles and metrics...
...underpin quality, competitive investment decisions
Edgecumbe Solar
Rangiriri Solar
Portfolio synergies ensure incremental value uplift and/or further de-risking
Individually sound investments justify the opportunities and risks
Strategically aligned investments meet or exceeds return thresholds
Huntly BESS Stage 1 and 2
(1)
Capital AllocationFunding ToolkitOperating Cash Flow
Capital Management
Maximising
Risk-adjusted
Returns
Project
Returns
Portfolio
Value
Shareholder
Value
Intrinsic
Portfolio
Synergies
EBITDAF
Free Cash
Flow
Adaptability
Risk Profile
Market
Forecasts
Hurdle
Rate
NPV
Strategic
Alignment
Capital
Returns
Dividend
Yield
Intrinsic
Valuation
Notes: (1) Illustrations shown are conceptual only.

Genesis Energy – Investor day 2025 47.
Capital management: financing the business
Credible funding options, enabling diversification and value realisation within key financial settings
Capital ManagementFunding ToolkitOperating Cash Flow
Genesis welcomes the clarity from the Government’s response to the Frontier report, and is well positioned to support many of the Government’s
objectives and priorities through Gen35
Debt capacity
Prudent, affordable and timely borrowing that enables value capture from on-balance sheet propositions, with close
management of opportunities and risks
Asset recycling
Strategic assessment of capital optimisation opportunities to
unlock higher-value uses
Partnerships and joint ventures
Partnering structures with potential for equity investment that considers
synergies, governance and targeted value capture
Contractual offtake
Capital-light commercial arrangement to secure generation
or supply to meet demand or enable a value chain
New equity
Strategic growth acceleration with resilience that considers
business cycle, commercials and market conditions
Funding
toolkit
Capital Management

Genesis Energy – Investor day 2025 48.
EBITDAF growth
• Value over volume focus
• Margin quality uplift with cost discipline
• Maximising synergies across the
portfolio
Shareholder returns
• Growing cash generation enabled
by delivery of Gen35
• Enduring growth with a competitive
returns profile
Balance sheet resilience
• BBB+ credit rating
• Prudent liquidity with cycle flexibility
• Self-sustaining capital management
strategy
Shareholder
returns
EBITDAF
growth
Balance sheet
resilience
Capital management delivering growth, resilience and returns
Accelerating towards our future state
Capital Management

HORIZON 3
The Future State
Malcolm Johns
Chief Executive
Tekapo B, in a full Lake Pukaki

Genesis Energy – Investor day 2025 50.
COUNTRY
SECTOR
COMPANY
NET ZERO 2050
60% 95% 100%
ELECTRIFICATIONRENEWABLESRELIABILITY
COUNTRY
SECTOR
COMPANY
100%
RELIABILITY
95%
RENEWABLES
60%
ELECTRIFICATION
Our Gen35 strategy
Global energy transition: more electrons, more energy storage and data driven systems
CUSTOMER
Empowering the
customer-led
transition
RENEWABLES
Displace thermal +
growth 8,300 GWh
by 2035
Net zero 2040
FLEXIBILITY
Huntly Portfolio
1,300 MW by 2035

Genesis Energy – Investor day 2025 51.
30
40
50
60
20252026202720282029203020312032203320342035
Market forecastsGenesis view
New Zealand electricity market growth to 2035
New Zealand’s electricity market demand is expected to grow at a CAGR between ~1% to 4%,
predominantly driven by electrification of C&I processes and transport
Market forecast range of annual electricity demand (TWh)
Source: MBIE EDGS 2024. Genesis internal assumptions.
Horizon 3 – Future State
Genesis expects electricity market demand to grow
at a CAGR of ~2% over the next 10 years, with a
strategy to grow with the market

Genesis Energy – Investor day 2025 52.
Genesis portfolio growth and evolution
Driving renewable growth to retain market share through solar, wind and partnerships
to achieve a matched generation and long capacity portfolio
Forecast portfolio growth and generation composition
(1)
(TWh)
Horizon 3 – Future State
Hydro
Hydro
Hydro
Renewable
Renewable
Renewable
Huntly
(3)
Huntly Baseload
FlexGen – GNE
(2)
FlexGen – GNE
(2)
FlexGen - HFOs
(4)
FlexGen - HFOs
(4)
6.8 TWh
7.3 TWh
8.8 TWh
-
2
4
6
8
10
12
FY25AFY28EFY35E
HydroRenewableHuntly BaseloadFlexGen - GNEFlexGen - HFOsGenesis Demand
Notes: (1) P50 generation composition; (2) Refer to page 57; (3) Does not include firming options; (4) FlexGen HFOs are based only on current capacity sold; (5) System level long-run cost of electricity (system LCOE).
Rankines reach practical end of life around
2035. 400 MWh BESS, around 50 – 400 MW
of diesel / gas / LNG gas turbines across units
5, 6, 7, subject to demand, fuel and capital
Three delivery
models:
1.Direct
investment
2. Partnership
or JVs
3.Indirect
partnership
(PPAs)
Genesis plans to grow at a CAGR of ~2%
between FY25 – FY28, enabled by its
strong generation pipeline
System LCOE of $125 – 135/MWh (firmed, real)
(5)
>90% renewables

Genesis Energy – Investor day 2025 53.
Horizon 2: Accelerated TransitionHorizon 3: Future Fit
Significant opportunity in market value of flexibility
Significant value capture opportunity for Genesis: ~8x growth in volatility value pools by 2035
Market value of flexibility reward pool ($m p.a.)
Firming value pools continue to increase in Horizon 3
Illustrative valuation of firming
Market approach to valuing firming products
Net FlexGen MW
Firming value ($ / MW)
Net annual firming revenue ($)
Asset value = NPV over life of the asset
Horizon 3 – Future State
-
200
400
600
800
1,000
1,200
1,400
1,600
2026202720282029203020312032203320342035
Minutes / HoursDays / WeeksMonths / YearsYear-to-year
Source: Concept Consulting and Genesis internal views.

Genesis Energy – Investor day 2025 54.
A large
customer book
02
01
A credible
pipeline of
new
renewable
generation
A firming
long
portfolio
• A firming long portfolio
• Existing assets that can firm
new renewables across
minutes, hours, days, weeks
and months.
• 2.5 GW of new renewable
development options
• Commitment to investing in
new renewables.
• 500,00 customers across
New Zealand
• Confidence to make long
term investments in growing
renewables.
03
Horizon 3 – Future State
Gen35 Competitive Advantage
Resilient Demand + Growing Renewables + Firming Across Every Time Scale = Reliable and Growing
Earnings

Genesis Energy – Investor day 2025 55.
Gen35 investor value proposition
Genesis 2.0
Growing
Shareholder
Returns
Growing
Shareholder
Returns
Customer
Renewables
Flexibility
Empowering the
customer led transition
Displace thermal + growth
8,300 GWh
Net Zero 2040
Portfolio flexibility
1,300 MW
Margin quality
Strong capital
management
Cost discipline
Clear delivery focus
Market leading integrated portfolio
Energy that never stops! We’re delivering margin quality, cost discipline and strong capital management
across an integrated portfolio with a large customer book, growing renewables, market leading flexibility

Thank you for joining us!
Tokaanu Power Station

---

Fuels Dinner
Angela Ogier
26
th
November 2025

Genesis Energy – Investor day 2025 2.
Gas flex at the heart of our strategy
LNG-Ready
without the risk
Building resilience
through storage and
optionality
Genesis is strategically
positioned in a
challenging market

Genesis Energy – Investor day 2025 3.
NZ gas market
Challenging position with concentrated resources and demand
Source: https://www.mbie.govt.nz/assets/Data-Files/Energy/petroleum-reserves/petroleum-reserves-1-jan-2025.xlsx
2P Reserves decline since 2021 >20% per year
Gas use is concentrated among a few key users
0
5
10
15
20
25
30
35
PJ
2024 Gas Demand
Source: OATIS gas carriage data
Greymouth Turangi, 403
Greymouth Kowhai, 52
Todd McKee/Mangahewa, 83
Todd Kapuni, 93
Todd Pohokura, 47
OMV Pohokura,134
OMV Maui, 40
Beach Kupe, 44
Genesis Kupe, 40
Echelon Kupe, 3
Other Other (13 fields), 21

Genesis Energy – Investor day 2025 4.
Supply and demand outlook tight
Major investment required to maintain supply with an uncertain demand outlook
Current levels of supply unlikely to be maintained
Demand is shrinking with some notable closures
Source: Enerlytica
Annual
Gas Use (PJ)
EventUser
1Kinleith paper mill closure 2H 2025Oji Fibre Solutions
3Whareroa conversion stage 1 2H 2026Fonterra
1.6Whareroa conversion stage 2 2H 2028Fonterra
0.9Edgecumbe conversion 2H 2026Fonterra
0.9EAF commissioning 1H 2026NZ Steel
8.2Closure 2H 2025
Taranaki Combined
Cycle (CCGT)

Genesis Energy – Investor day 2025 5.
0
5
10
15
20
25
FY26FY27FY28FY29
PJ
Kupe EquityKupe ROFRContractedFlex Capacity
Kupe is at the heart of our flexible gas portfolio
The ROFR allows us access to gas at competitive prices
Our portfolio allows us to flex into generation
Our FY28 portfolio allows arbitrage across fuels
Flex capacity to take advantage
of gas market conditions and
growing renewables
Gas
contracts
Market
purchases of
gas, coal
and/or
biomass
Renewables

Genesis Energy – Investor day 2025 6.
Kupe a stable asset
Known well capacity and reliable plant
0
10
20
30
40
50
60
70
80
Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25 Jul-25 Aug-25 Sep-25 Oct-25
TJ/d
PohokuraMauiMcKee/Mangahewa
Turangi and KowhaiKupeKapuni
Transpower
outage –
partial
shutdown
Source: OATIS gas carriage data
Kupe field well-managed
and reliable production
• Production station assets actively managed to
maintain reliable production
• Aligned JV seeking value from late life
optimisations and maintaining resilient production
• End of field life identified as mid 2030s – well
prepared for decommissioning and looking to
optimise with other operators
• Access to 46% Kupe equity gas an asset in times
of market uncertainty – ROFR over remaining gas.

Genesis Energy – Investor day 2025 7.
Navigating Methanexit risk
Genesis well placed to support gas supply stability in the event of exit
How Methanex helps the NZ energy system
• Methanex provides system flexibility when operating between minimum
turndown (50 TJ/d) and maximum capacity (95 TJ/d)
• Current supply situation limiting this flex
0
50
100
1
TJ/d
Max capacity
Min turndown
If Methanex exits early the drivers for early exit will define impacts
Unit 5 is the most efficient generation and Genesis has enough
flexibility to absorb gas on commercial terms
0
10
20
30
40
50
60
70
80
Unit 5Unit 6Rankine Unit
TJ/d
Genesis gas generation capacityMethanex flex capacity
Seasonal flex in this range
has provided value to
electricity system participants

Genesis Energy – Investor day 2025 8.
Gas storage supercharges our portfolio
Physical storage an important contributor to a leaner gas market
Fuels Breakout
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
With StorageWithout Storage
Storage allows for
maximum gas usage
during winter peaks
Avoids carrying excess
gas during summer or
inefficient generation
Gas Storage
• Gas Storage key to ensuring efficient allocation of
gas in a smaller market – time shifting gas
addresses interseasonal and weekly flex needs
• With lower production gas storage creates artificial
flexibility
• Gas Storage is useful for any LNG solution - storing
gas in between cargoes will be important to
managing gas import
• Alongside physical storage Genesis is pursing
demand response and other commercial options

Genesis Energy – Investor day 2025 9.
What is underground gas storage?
Widespread and proven facilities in all gas markets
Underground
formation
• Has a capacity to store gas
under pressure
• Allows cyclical injection and
retrieval of gas
Most commonly depleted
oil and gas fields
• Reuse infrastructure and wells
• Readily available
• Close to demand
Surface facilities
required
• Compression to inject
• Gas conditioning to get
withdrawn gas up to spec
Other storage
options
• CNG small scale
• LNG costly

Genesis Energy – Investor day 2025 10.
Tariki Gas Storage — Overview & Progress
Seasonal Storage to Underpin Winter Reliability
• Seasonal storage at Tariki using existing wells
• Injection of up to 45 TJ/d and withdrawal of up to 65 TJ/d
• Storage capacity estimated at 10 PJ
What & Why
• Processing at Tariki, single-train compression and export via Stratford gas
yard or Derby Rd
• Cost optimal location for infrastructure tie-in
• Gas fired compression with potential for electrification
Scope & Cost
• Surface facility feasibility studies complete
• Reservoir modelling complete YE 2025
• Operator has re-energised team to accelerate project
• MOU with Genesis supports commercial close 1H 2026
Status & Next Steps

Genesis Energy – Investor day 2025 11.
What is LNG?
LNG is a capital-intensive industry which supports global trade in natural gas
406 MTPA (20,800 PJ)*
Total global LNG trade (2024)
22 exporting countries including Australia, Qatar and
the USA
49 importing countries with China, Japan and Korea
being the largest
* MTPA=million tonnes per annum
Conversion at c. 51 PJ per MT
Source: GIIGNL Yearbook 2025
Source: ConceptDraw
• Liquified Natural Gas (LNG) is natural gas (primarily CH4) that has been
cooled to a liquid state at approx. -162 degrees C
• The process reduces the gas volume by approximately 600 times, making it
easier and more efficient to transport and store
• The key elements of the LNG supply chain are Liquefaction, LNG transport
and an LNG receiving terminal

Genesis Energy – Investor day 2025 12.
How is LNG Regasified?
There are 49 countries which import LNG. Approximately 35% utilise a FSRU.
Regasification infrastructure
• LNG receiving terminals include LNG
unloading, storage and the regas facilities
• Extensive global infrastructure for both onshore
terminals and FSRUs
• Typically, onshore terminals are more efficient
for 3 MTPA + with long lead times
• FSRUs primary benefits are flexibility, lower
capex and speed of deployment
Technological process
• Facilities use heat exchangers to warm the
LNG in a controlled manner to return it to a
gaseous state
• Heat exchanger processes can use seawater,
air or direct heaters

Genesis Energy – Investor day 2025 13.
Retrofit existing vessels
• Lower capex
• Shorter lead times
• BUT higher opex due to less
efficient containment systems
• If reduced storage capacity, will
lead to increased demurrage
Floating Storage Regasification Unit
The design of a new vessel or an existing vessel will have LNG storage, loading
and regassification facilities are incorporated.
What is a Floating Storage and Regas Unit (FSRU)?
The primary benefit of an FSRU is lower Capex, greater speed to market and increased flexibility
Surging demand -20new FSRUs commissioned in the last 4 years
New vessels
• Requires forward orders
• Unlikely to be available until
2028+ (though this needs to be
confirmed).
Source: TotalEnergies
Sourcing a FSRU
Vessels Suppliers
• The established players are Hoegh, Golar and Excelerate
• Primarily constructed in the established Korean and Japanese shipyards
• Vessels are generally leased. The manufacturer also often operates the
FSRU

Genesis Energy – Investor day 2025 14.
What is the supply/demand outlook for LNG?
Potential LNG oversupply could support a softening in prices in 2027/28
• Market currently balanced but prone to
volatility
• Very significant new capacity under
construction in the USA and Qatar
• New Asia demand will be required to
underpin growth
• Marine demand a growing niche
market critical to global supply chain
decarbonisation
• Consensus is an oversupply in
2027/2028 which could lead to a
softening in prices
Source: Shell Global LNG Update 2025Source: Shell Global LNG Update 2025

Genesis Energy – Investor day 2025 15.
Genesis is future fit for LNG
We have an experienced international team ready to integrate LNG as it work for us
We understand where this
fits in our fuel supply mix
• Genesis will not invest in terminal infrastructure
but is likely to take LNG if available
• LNG complements our flexible generation and gas
strategy
• New security products could be backed by LNG –
linking into government’s desire for firming
• We have a team with 100+ years’ international
upstream oil and gas/LNG experience to lean into
opportunity as it unfolds
• Biomass, coal and domestic gas play other roles –
LNG just adds another string to our bow!

Genesis Energy – Investor day 2025 16.
Gas flex at the heart of our strategy
• Our Kupe share gives us rights
to production and upside from a
well-managed asset
• Our gas portfolio balances risk
while leaving room for
opportunistic value creation in an
uncertain market
• We are prepared and equipped
for market uncertainty
• Gas storage will supercharge
the flexibility of our portfolio
• Tariki field studies progressing
well with a strengthened rights
to storage capacity
• Other flexibility options are
being pursued to maximise the
value of our portfolio
• An import terminal gives NZ
access to an established, liquid
gas market to manage energy
security
• Genesis has an experienced
team and connections in the
global LNG market
• We understand how LNG will
play in our portfolio if imports
occur
LNG-Ready
without the risk
Building resilience
through storage and
optionality
Genesis is strategically
positioned in a
challenging market

Thank you

---

Electrification
Stephen England-Hall &
Danusia Wypych
26
th
November 2025

Genesis Energy – Investor day 2025 2.
0.5
0.9
2.6
202520282035
+18.9% CAGR
Transport is the fastest-growing driver of new electricity demand, creating a
multi-billion-dollar market by 2050
New Zealand electricity demand CAGR to 2035 by sector (%)
New Zealand forecast transport electricity market (TWh)
EVs are the fastest growing
source of new electricity
demand
1
EV charging becomes a multi-
billion-dollar market by 2040
2
EV travel creates stable,
recurring electricity demand
4
Light vehicles drive most of the
load growth
3
Source: CCC Reference Case
Light passenger fleet (cars)
Light commercial fleet (vans/utes)
Trucks
Buses & coaches
Source: MBIE, Genesis internal analysis
0.4%
2.0%
3.1%
18.9%
Transport
Commercial
Industrial
Residential
Driven by strong
EV uptake
Includes data centre
growth
81%
10%
5%
4%
The scale of New Zealand’s electrification opportunity

Genesis Energy – Investor day 2025 3.
Strategic investment in ChargeNet
Investment advances Genesis’ strategy and captures emerging market
opportunities from electrification
More
Charging
More
Electrons
More
Flexibility
More
Margin
Secures dominance in the high-margin, high-growth public
charging space delivering value over volume
Expands reach beyond traditional non-Genesis customers
Creates new revenue opportunities from flexibility, grid-
services and commercial & heavy fleet propositions
ChargeNet gives Genesis the scale, data, customer access and
strategic positioning required to win the EV transition
Move early to secure priority partners and
strategic positions in the value chain
Investin the short-term to secure long-term value
from priority value pools
Position Genesis as the market leader in EVEnergy,
Charging, and Flexibility– capturing long-term value by
acting early as the EV transition accelerates toward 2030
Genesis EV strategy
===
Enabling
chargers
Selling
electricity
Flexibility
Priority value pools

Genesis Energy – Investor day 2025 4.
0
20
40
60
80
100
120
-8 -7 -6 -5 -4 -3 -2 -1 0 UM +1 +2 +3 +4 +5
Months
Volume uplift post Genesis investment (MWh)
Strong growth in utilisation post site upgrades (MWh)
(1)
(1) Upgrade Month
(2) Average ChargeNet numbers for the last full 26 weeks
0
100
200
300
400
J A S O N D J F M A M J J A
20242025
Genesis Investment (Nov-24)
- building NZ’s largest future fit
EV charging network
Urban Infill Programme upgrades
are unlocking significant demand
Genesis investment driving strong utilisation uplift across new
and upgraded sites
Sites consistently attract customers within the first hour of
operation, reaching stable utilisation within weeks
Strong development pipeline to expand capacity
Well established portfolio of sites provides compelling upgrade
economics
Experiencing rapid demand for upgraded sites with an immediate
increase in sales volumes
Site upgrades leverage extensive customer and charge data
CUSTOMER
Helping
unlock
Genesis
522+
DC Fast charging points
>130,000
Registered customers
85c/KWh
Average retail DC
$30m+
Revenue pathway in FY30
(1)
16,850
(2)
Charging sessions pw
ChargeNet is scaling and performing
Rising utilisation, expanding network reach, and accelerating revenue momentum

Genesis Energy – Investor day 2025 5.
100
120
140
160
180
200
1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46
30-minute intervals across one day
-
200
400
600
800
1,000
1,200
1,400
2 4 6 8 10 12 14 16 18 20 22 24
Daily hour
Customer Utilisation (MWh)
Together, leading New Zealand’s transport electrification
A high-value, scalable platform that strengthens gross margin, improves portfolio
returns, and expands customer reach
Public charging supports electrification
EV customers deliver 2-3x higher ARPU
(1)
and
longer tenure
>75% of ChargeNet volume is from non-Genesis
EV customers – a significant customer
conversion opportunity exists
Vertical integration creates a defensible moat
Daytime charging aligns with cost-effective solar
generation profile
Generates margin across the energy value chain
within Genesis’ portfolio
Dynamic load control offers access and cost
advantage over competitors
Public charging demand aligns with Genesis
peak solar generation periods
Strong growth in demand for public charging
Solid demand base – 19% of EV charging
already occurs away from home
Portfolio integration advantage
Average Market Electricity Pricing ($/MWh)
Highest value customer channel
>75% volume from
non GNE customers
2-3x higher ARPU,
longer tenure
(1) Average Revenue Per User

Thank you.

---

Genesis Energy – Investor day 2025 1.
Biomass update
Dave Binnie & Angela Ogier
26
th
November 2025

Genesis Energy – Investor day 2025 2. Genesis Energy – Investor day 2025 2.
Why Torrefied Wood Pellets?
• Storable fuel that is a ‘drop in’
replacement for coal
• International, commercially viable
production facilities and markets
established
• Active coal plant conversions to
biomass taking place
• Successful biomass trial burn at Huntly
Rankine Units
• Diversifies Huntly's flexible fuel
portfolio
• Stable, domestic pricing derisks
exposure to international commodity
and carbon prices
• Huntly named in NZ Wood Energy
Strategy
• Genesis offtake agreement stimulates
domestic pellet production
• Commercials currently challenging
against coal + carbon
• Pellet price optimised through multiple
potential suppliers
• Development of low carbon, premium
firming products as an alternative to
coal firming - creates value and
derisks the cost gap
• Deployment within 3 years locks in
value with Rankine lifespan
Commercial
Goals
Fuel & Energy Security -
Not Just
Decarbonisation
Proven
Technology

Genesis Energy – Investor day 2025 3.
How Biomass links to Gen35
FY28
GOAL
Gas
Seasonal gas flexibility secured
Biomass
Pathway to 300 kt p.a.
BESS
100 MW/200 MWh BESS operational at Huntly
Multiple opportunities being pursued
Construction underway with project forecast under budget
at $135m and commercial operations on target for Q1 FY27
Carbona MOU signed; Natures Flame Term sheet in
development, Foresta Term Sheet signed (180 kt p.a);
Consortia engaged for other locations
Flexibility
Monetising
flexibility
Huntly Portfolio Energy & Capacity Coverage
Peak Demand
Constraints
Dry Year
Constraints
Minutes /
HOURS
Days /
WEEKS
Months /
YEARS
Year-to-year
TimeframeCurrent Portfolio
HLY U5 /
U6
HLY U5 /
Rankines
HLY U5 /
Rankines
Rankines
(Coal / Gas)
Future Portfolio
Rankine
Investments
Capacity unlock via
renewables
investment
BESS 1.0
Gas storage &
flexibility / HLY Unit
7
Biomass
Value Capture
Market
Spot Market
Spot & capacity
market
Capacity
Market
BESS 2.0
Gen35 InitiativeFY28 GoalFY25 Progress

Genesis Energy – Investor day 2025 4.
Biomass Addresses our Strategic Fuel Risks
How does biomass perform?
Biomass
(Tomorrow)
Coal
(Today)
DescriptionStrategic element


Ability to have domestic supply chain of fuelFuel / Energy Sovereignty
Operational
-

The energy density to meet generation
requirements
Energy density


Technology in place to deliver the required
fuel at scale
Technology (Production)
-

Existing generation assets to “burn” fuelCompatibility with existing assets
-

Ability to store biomass at scaleStorage


Level of exposure to trade disruptions and
carbon price
Price stability and carbon exposure
Financial & Environment


The whole of life emission profileLifecycle emissions


Relativity of priceCommercial Impact


Exposure to adverse public sentimentLicence to operate
Reputation
HighLowMedium
Performance rating

Genesis Energy – Investor day 2025 5.
• Successful biomass trial burn at
Huntly Rankines in 2023
• Capital modification to existing
assets will be significantly less
than new biomass generation
build
• NZ has 16 mtpa of fibre available
for wood energy – could be as
much as 106 PJ of black pellets
• Foresters are actively engaging in
commercials for fibre supply to
consortia for biomass production
• Established world market and
torrefaction technology
• Genesis international site visits to
understand the technology stack
• Commercials for domestic pellet
supply challenging against current
coal + carbon
• Confident there is a market for
premium, biomass-backed firming
products.
• Strong GNE experience in solid
fuel supply chain management
and logistics for Huntly
• Simple transition from
international coal to domestic
biomass
Low Capital Intensity
A domestic biomass supply chain is emerging in NZ, and Genesis is helping shape and support
every part of the emerging value chain.
1
FORESTRY
2
PROCESSING
3
LOGISTICS
4
COMBUSTION
Source: Wood Energy Strategy
Converted to energy as torrefied biomass using a 33% yield of black pellets from dry tonnage and calorific value of 20 GJ/t
From Biomass to Energy

Genesis Energy – Investor day 2025 6.
Price mechanism & Volatility
Geopolitical shocks and policy shifts may further accelerate cost parity.
1 May be subject to some agreed variability such as CPI adjustments.
Cost of Coal vs Biomass Price Range (2020 – 2025)
Biomass cost range
Biomass:
• Intended to be fixed
1
, long-term pricing
• Underpinned by multi-year agreements, shielded from short-term market
fluctuations.
• Underpins premium, green firming products to create value and derisk fixed
pricing
Coal:
• Variable, influenced by global supply-demand dynamics and commodity markets
Carbon:
• Highly uncertain, driven by carbon pricing policies, regulatory shifts, and
geopolitical tensions
• Robust ETS is critical to economic supply
$-
$50
$100
$150
$200
$250
$300
$350
$400
$450
$500
NZ$/MWh
Delivered Cost of CoalActual Market Carbon Price
Highest cost of coal >
$450/MWh
Ukraine war begins
Biomass price range

Genesis Energy – Investor day 2025 7. Genesis Energy – Investor day 2025 7.
Next Steps
Genesis intends to run a
robust process to minimise
the cost of biomass.
Bridge the gap
Seek solution to bridge the cost gap, continue FEED
and progress with detailed diligence. Continue
discussions regarding biomass-backed premium firming
products.
Technical, commercial and legal diligence
Progress necessary diligence required to:
• increase price certainty and
• undertake a competitive procurement processes and
• identify value engineering opportunities to reduce the unit price
Project Finalisation and FID
Subject to resolving the commercials,
target FID by Q1 2026, enabling a 24-
month build phase
Biomass
Production
targeted by 2028
to maximise
Rankine life

Thank you

---

Data & AI Strategy
Sukanya Maharathy & Ed
Hyde
26
th
November 2025

Genesis Energy – Investor day 2025 2.
Enterprise
Intelligence
Data-driven decisions
everywhere
AI-augmented insights and
automated workflows that free
people to focus on value.
Customer Value
Acceleration
Personalised experiences at lower
cost
Agentic AI to automate services and
tailor interactions growing Customer
Lifetime Value
Operational
Efficiency
Always-on operational
intelligence
AI forecasting and predictive
maintenance to lift asset availability
and reduce OPEX
Trading & Portfolio
Excellence
Smarter, faster trading
Real-time AI optimisation to
capture margin and improve
portfolio decisions
Data & AI Strategy: accelerating Gen35 Delivery
focused on delivering margin growth, cost efficiency and capability uplift
Key Enablers
Goal: Drive higher gross margins
and faster portfolio decisions
Goal: Reduce OPEXGoal: To lift customer lifetime
value while reducing OPEX
Goal: Productivity and employee
empowerment
People & Culture
Process
Technology
Partners

Genesis Energy – Investor day 2025 3.
From Proof to Performance
Scaling AI to Deliver Enterprise Value
ACTIVATE
ENABLE
Q1 FY26
Q2 FY26
Q3 FY26 onwards
• Rolled out ChatGPT Enterprise
to 1,000+ users
• 110+ AI Champions to embed
change
• AI funding framework approved
• Signed strategic partnership with
Databricks
• Embedding AI across Trading,
Assets, and Retail
• Scaling agentic AI to reduce cost
and lift performance
• Targeting measurable goals
through margin growth
• Training and upskilling people
across the organisation
• AI Enablement Hub to drive
coordination and pace
• Delivered 40+ discovery
workshops
• Built and deployed highest
impact use cases
• Linking AI use to efficiency and
margin uplift
SCALE

Genesis Energy – Investor day 2025 4.
Phase 1
Delivered core capabilities that will enable us to realise value at pace
Wholesale Operations:
Maintenance Assistant
Faster asset health detection to better
inform maintenance activity for reliability
ACCESSIBLE 
Removes technical barriers
so anyone can interact with
data and systems using
natural language
REUSABLE 
Reusable patterns
cutting time and cost
to deliver
SCALABLE 
Enabling solutions to go
from idea to deployment
in days, not months
TRANSFERABLE 
Captures expertise and
turns it into scalable
business intelligence
Generative AI capabilities with the power to transform how Genesis works
C&I:
Agentforce AI Assistant
Automating workflows and generating
communications to surface real-time insights.
P&C:
PeoplePal
Chatbot enabling HR policies instantly —
reducing time-to-answer and admin load

Genesis Energy – Investor day 2025 5.
Wholesale
Maintenance
Assistant
AI use case to detect faults faster

Genesis Energy – Investor day 2025 6.
Rankine
optimisation
AI use case to support the
Trading team

Genesis Energy – Investor day 2025 7.
AI at Scale
Smarter, Faster, and Leaner
1,114
Users enabled
800
Users trained
219
Custom GPTs
created*
111,913
Total prompts sent*
111
AI Champions
onboarded
Over 85% of the
organisation is
now AI enabled
Growing network of
champions driving
enterprise-wide
capability and peer
to peer advocacy
High utilisation
saving thousands
of hours weekly
Employee led AI
innovation turning
ideas into
workflows
Over 60% of
workforce AI-
trained and
growing
* Data as at 21
st
Nov 2025
Open AI ChatGPT Enterprise is now part of how we work —
accelerating productivity, building capability and scaling innovation across Genesis

Genesis Energy – Investor day 2025 8.
Phase 2 of AI Transformation
will move from productivity gains to full business transformation
Top-down transformational initiatives:
Targeting high value areas to shift the dial significantly to unlock mid to upper $550M
EBITDAF.
1. Asset Management Transformation
2. Redefining Retail Operations (Customer Front & Back offices)
3. Reimagining Trading and Portfolio management
Bottom up use case acceleration:
Scaling proven use cases that boost speed, accuracy, and decision-making.
Expanding AI-enabled workflows across every function.
ChatGPT at scale:
Focus on continuous learning and GPT creation across business user groups to drive
real productivity benefits.
People-led, Value Driven:
AI adoption will be part of how we work. We’re embedding capability, scaling
innovation, and unlocking measurable value across Genesis.
CHANGE
VALUE
REALISATION
AI
LIFECYCLE
Bottom-up
use case
acceleration
Top-down
transformational
initiatives
ChatGPT Acceleration
PEOPLE

Genesis Energy – Investor day 2025 9.
SLALOM:
Data & AI product build
and AI change
enablement
GENESIS INTERNAL
TEAMS:
Core strategy,
governance, business
alignment
Strategic technology
partners:
Drive innovation and
scale through world class
technology
TCS:
Scaled data
operations and
platform delivery
Leveraging a Global Partner Network
to Deliver and Scale at Pace
Our hybrid delivery model combines in-house
expertise with world-class partners, leveraging
offshore capability in locations like India to maintain
efficiency, scale at pace, and deliver 24/7

Genesis Energy – Investor day 2025 10.
AI is now a growth engine
delivering measurable value across Genesis
AI is a margin
multiplier, not
a cost centre
02
01
Capital-Light,
High-Return
Delivery
Model
Proven
capability,
ready to
scale
Phase 1 delivered the
foundations – enterprise
access, reusable patterns, and
measurable wins. Phase 2 will
expand into high-value
transformation across Trading,
Retail, and Operations
We will scale fast through
generative AI and existing cloud
partnerships – minimal capex,
rapid payback, and scalable
benefits across the business
We will use AI to enhance
trading decisions, optimise
operations, and lower cost-to-
serve – directly contributing to
EBITDAF growth
03

Thank you

---

Culture and
Community
Claire Walker, Angus Judge &
Kruger Wetere
26
th
November 2025

2. 2.
Focus on safety & wellness –improved performance, ISO45001 accreditation demonstrates robust systems
1
Performance culture delivering Gen35 –stable leadership, commercial capability uplift, employee engagement
2
Proactive engagement with Iwi and targeted investment in communities –creating shared value
3
Key Messages

3.
People, Culture, Community
Creating the conditions for our people to deliver exceptional performance...
Culture is our foundation
• Culture of care, ambition & performance
• Manaaki Kenehi, socially responsible retailing
• Building confidence in te ao Māori
• Purpose driven - employees understand their
contribution
Growth in capability
• Developing talent benchstrength
• Growing commercial capability
• Acquisition of specialist talent
• Strong employee adoption of AI tools
Sustained performance
• Greater clarity & speed of delivery
• Streamlined operating model
• Targeted community investment aligned
with strategy
Talent
CulturePerformance
HORIZON 2 – Delivery and ongoing focus
Powering a sustainable and thriving Aotearoa...

4.
71%
Driving safety, retention and engagement
Strong culture
Our people feel proud, safe, and valued – the foundation of sustained performance
1278
Headcount
FY24: 1230
Change 4%
Headcount is peaking to deliver
technology transformation
79%
Engagement
FY24: 81%
Change (2) pp
Engagement exceeding nation benchmark of
75% despite significant organisational change
10.7%
Annualised
Turnover
FY24: 13.2%
Exit Survey
Response
FY24: 71%
No Change
84% of exiting employees felt positive about
their time working at Genesis
91%
feel safe while they
are at work
46
Recordable injuries,
4% less than FY24
86%
feel they are treated
with respect at work
Change (2.5) pp
Significant reduction in LPG Driver
and CSR churn

5.
Technical/Engineering gender pay gap reduced by
3% in the last year
Gender pay gap has reduced by 1.5% in the last year
Significant drop in pay equity gap
Capability for the moment and the future
0.9%
2.8%
3.3%
6.7%
14.8%
15.2%
20.7%
53.6%
I prefer not to answer this question
Middle Eastern/Latin American/African
Other Ethnicity
Pacific Peoples
Maori
Not declared
Asian
European
Ethnicity FY25
37
Commercial Leadership Development
Employees have completed the
Commercial Leadership programme
Developing leadership and
commercial capability in critical
middle management tier
22
Male
15
Female
9%
Māori
100
%
Senior leaders who have been
through Korn Ferry development
assessment
Assessing in-job capability,
future potential and developing
talent bench-strength
55
Emerging Leader Development
Employees have completed the
Emerging Leadership programme
27
Male
28
Female
8%
Māori
Senior Leader Development
Investing in growing a gender
balanced and diverse talent
pipeline
15
%
Māori Population
FY24: 14
%
Change 1pp
Increase in Māori workforce over time
11
%
Technical/Engineering
Gender Pay Gap
FY24: 14
%
Change (3)pp
32.8
%
Total Gender Pay Gap
FY24: 34.3
%
Change (1.5)pp
1.7
%
Pay Equity Gap
FY24: 2.9
%
Change (1.2)pp
20
Asset Development team has
grown from 3 FTE to 20 FTE
Building internal capability to
grow pipeline and deliver
infrastructure projects
Asset Development Capability
Leadership development and workforce diversity

Community investment – creating mutual value
Genesis is strongly integrated into and supported by our communities.
Community investment funding has been lifted to c.$5.6 million p.a.
Hihiko Ora: Energy wellbeing
•Supporting solar on schools near power schemes. Developing capability,
knowledge and support within our communities.
• Gifted16K LED lightbulbs to communities. Reduces cost of energy for households
and Genesis
Mātauranga: Education & Pathways
•10-year extension of partnership with Puhoro STEMM Academy.
•Ngā Ara Creating Pathways
•School-gen:partnership with House of Science for STEMM resources in 29 schools.
20K students participated in STEM learning through our partnerships.
Te Taiao: Nature
•National Partner with DoC for Whio Forever: Indicator species. 1,500 km of river
protected by predator trapping. Breeding pairs increased from 298 to 562 (89%)
since programme launch
•Partnerships for nature restoration around catchments

Iwi partnerships
an opportunity to do more together than we can each do alone
• Waikato Tainui and Te Aratoki
(hapū/marae collective around Huntly PS)
• Whanganui River Iwi
• Ngāti Tūwharetoa (incl. Lake Rotoaira Trust,
Lake Rotoaira Forest Trust)
• Ngāti Rangi
• Mōkai Pātea Nui Tono
• Ngai Tūhoe
• Te Rūnanga o Ngāi Tahu (TRONT) and Te
Arawaru - Arowhenua, Waihao and Moeraki
Rūnaka
• Other Iwi/Hapu around our renewables
development sites
• Proactively engage and sustain constructive
relationships with mana whenua.
• Recognise that each relationship is unique,
reflecting the nature of Genesis’ operations,
the iwi involved and their aspirations.
• Acknowledge that the activities of Genesis have
effects on the environment, cultural values and
on the communities within which it operates.
• Transform iwi relationship dynamics beyond an
RMA-based mitigation focus.
• Be the organisation that Iwi entities prefer to do
business with.
• Identify and progress opportunities for
partnerships or joint ventures on energy
related projects.
Our approach
Genesis has active
relationships in play with
multiple Iwi across Aotearoa

Thank you