Genesis completes NZ$100m Placement

MARKET RELEASE
Date: 24 February 2026
NZX: GNE / ASX: GNE
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN THE UNITED STATES
Genesis successfully completes Placement component of NZ$400m Equity Raising
Genesis Energy Limited (“Genesis”) is pleased to announce that it has successfully completed the
bookbuild for the underwritten placement of NZ$100 million at a price of NZ$2.15 per share
(“
Placement”), as part of its NZ$400 million equity raise announced on 23 February 2026 (“Offer”).
Malcolm Johns, Genesis’ Chief Executive said, “The Placement received strong investment demand and
support from our existing shareholders, including the Crown, while also welcoming new institutional
investors to our share register. This outcome reflects investor confidence in the Gen35 strategy, which
is designed to position the business for growth by increasing the amount of renewable generation in our
portfolio and dispatchable firming capacity to enhance value for Genesis shareholders while also
supporting the security of the New Zealand electricity market.”
The Placement was fully subscribed at the offer price of NZ$2.15 per share.
Genesis endeavoured to allocate to all existing eligible shareholders who bid for their pro-rata allocation
of the Placement, at least that amount of new shares.
Settlement of the Placement is expected to occur on 26 February 2026 for the ASX and on 27 February
2026 for the NZX, with allotment and commencement of trading on NZX and ASX expected to occur on
27 February 2026. The new shares issued will not be entitled to the interim dividend to be paid on 25
March 2026 (with a record date of 26 February 2026).
As announced on 23 February 2026, Genesis is also undertaking an underwritten pro rata renounceable
rights offer to raise NZ$300 million at a price of NZ$2.05 per share (“
Rights Offer”). Eligible shareholders
may apply for 1 new share for every 7.9 existing shares held as at 7:00pm (NZDT) / 5:00pm (AEDT) on
the record date of 2 March 2026. New shares issued on completion of the Placement will be eligible to
participate in the Rights Offer.
Full details regarding the Rights Offer are set out in the Offer Document, which was released to the NZX
and ASX on 23 February 2026. All eligible shareholders are encouraged to visit
www.shareoffer.co.nz/genesis and apply for the Rights Offer online from 4 March 2026 until 5:00pm
(NZDT) / 3:00pm (AEDT) on 17 March 2026.
Key dates

Rights Offer
Record date 7:00pm NZDT, Monday, 2 March 2026
Rights Offer opens Wednesday, 4 March 2026

Rights Offer closes Tuesday, 17 March 2026
Shortfall Bookbuild for Rights Offer Friday, 20 March 2026
Settlement on the ASX Tuesday, 24 March 2026
Settlement on the NZX Wednesday, 25 March 2026
New Rights Offer shares allotted and commence
trading on NZX and ASX
Wednesday, 25 March 2026
Payment of any premium achieved in the Bookbuild Tuesday, 31 March 2026

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
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 NZ$3.7 billion during the 12 months ended 30 June 2025. More information can
be found at www.genesisenergy.co.nz

Important Notice

EXCEPT AS OTHERWISE EXPRESSLY AGREED WITH GENESIS, THIS ANNOUNCEMENT IS RESTRICTED AND
IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART,
IN OR INTO THE UNITED STATES OF AMERICA, ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE
UNITED STATES, CANADA, SOUTH AFRICA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH
PUBLICATION, RELEASE OR DISTRIBUTION WOULD BE UNLAWFUL. FURTHER, THIS ANNOUNCEMENT IS
FOR INFORMATION PURPOSES ONLY AND IS NOT AN OFFER OF SECURITIES IN ANY JURISDICTION.

This announcement or any part of it does not constitute or form part of any offer to issue or sell, or the
solicitation of an offer to purchase, subscribe for or otherwise acquire, any securities in the United States
(including its territories and possessions, any state of the United States and the District of Columbia (the
"United States" or "US"), Canada, South Africa, Japan or any other jurisdiction in which the same would
be unlawful. No public offering of the new shares is being made in any such jurisdiction.

The new shares offered in the Placement and the Rights Offer have not been and will not be registered
under the US Securities Act of 1933, as amended (the "Securities Act"), or under the securities laws or
with any securities regulatory authority of any state or other jurisdiction of the United States, and
accordingly the new shares may not be offered, sold, pledged or transferred, directly or indirectly, in,
into or within the United States except pursuant to an exemption from, or in a transaction not subject
to, the registration requirements of the Securities Act and in compliance with any applicable securities
laws of any relevant state or other jurisdiction of the United States. There is no intention to register any
portion of the offering in the United States or to conduct a public offering of securities in the United
States.

The new shares offered in the Placement and the Rights Offer have not been approved or disapproved
by the US Securities and Exchange Commission, any state securities commission or other regulatory
authority in the United States, nor have any of the foregoing authorities passed upon or endorsed the
merits of the placing or the accuracy or adequacy of this announcement. Any representation to the
contrary is a criminal offence in the United States.