Successful Completion of Rights Offer

MARKET RELEASE
Date: 20 March 2026
NZX: GNE / ASX: GNE

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN THE UNITED STATES

Successful Completion of Rights Offer

Genesis Energy Limited (“Genesis”) is pleased to announce the successful completion of its NZ$300
million underwritten 1 for 7.9 pro rata renounceable rights offer (“
Rights Offer”).

The Rights Offer received strong shareholder support with NZ$242.7 million of applications from eligible
shareholders. This represents a take up rate of approximately 80.9% including the participation of the
Crown (which will maintain its 51.00% shareholding following completion of the Rights Offer). Eligible
shareholders who took up their rights in full also applied for approximately NZ$48.1 million of additional
new shares, which will be taken into account in the shortfall bookbuild.

Genesis Chief Executive, Malcolm Johns, said “Genesis is delighted with the strong level of take-up by its
eligible shareholders in the Rights Offer, including the Crown. The success of the equity raise is a strong
endorsement of the Gen35 strategy from shareholders.”

Settlement of the Rights Offer is expected to occur on 24 March 2026 for the ASX and on 25 March 2026
for the NZX, with allotment and commencement of trading on NZX and ASX expected to occur on 25
March 2026. The new shares issued under the Rights Offer will rank equally with Genesis’ existing shares.

Shortfall bookbuild

Approximately 27.9 million new shares are available for the shortfall bookbuild component of the Rights
Offer, to be conducted today by Jarden Securities Limited as the Lead Manager.

Eligible shareholders who did not take up their rights in full and shareholders who were ineligible to
participate in the Rights Offer will receive a pro rata share of any positive difference between the
bookbuild price (which will be determined by Genesis in consultation with the Lead Manager) and the
application price for the new shares under the Rights Offer of NZ$2.05 (or the Australian dollar
equivalent of any such positive difference, calculated at the prevailing A$:NZ$ exchange rate near the
time of payment by the Registrar, for Australian shareholders who did not take up their rights in full).
However, there is no guarantee that any such positive difference will be realised.

Eligible shareholders who applied for additional new shares in the shortfall bookbuild will be allocated
new shares at the bookbuild price (subject to scaling).

For further information in respect of the Rights Offer, including the shortfall bookbuild, please refer to
the equity raise presentation and Offer Document released to the NZX and ASX on 23 February 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: 027 202 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 Rights Offer, including the shortfall bookbuild, 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 Rights Offer, including the shortfall bookbuild, 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.