GENESIS ENERGY LIMITED — Interim / Quarterly Report 2024

Jul 18, 2024

==> picture [53 x 53] intentionally omitted <==

MARKET RELEASE

Date: 19 July 2024

NZX: GNE / ASX: GNE

FY24 Q4 Performance Report

A constrained wholesale gas market and declining hydro storage have meant that additional thermal generation from Huntly was required through FY24 Q4. Generation from Huntly’s Rankine units was up 638 GWh on the prior comparable period (pcp)[1] . With energy shortages expected to continue, Genesis has reprioritised resources returning three Rankine units in July to run for up to three months as required, in conjunction with Unit 5. Operation of the reserve Rankine unit is contingent on ongoing staffing, unit reliability and fuel availability.

As a result of gas shortages and hydro levels, solid fuel supply at Huntly declined to 231 kT in the period. Additional coal supplies have been purchased and the first imports were delivered to Huntly in July 2024. Genesis intends to hold a stockpile of approximately 350 kT. Additional stocks will only be held to support contracts with other market participants. The sale process for Huntly Firming Options contracts, which enable participants to contribute to fuel security, is nearing conclusion with final negotiations ongoing with multiple bidders.

Genesis’ retail business continued its strong performance during the quarter, with growth in customer numbers and a 3.5% increase in the volume of electricity sold. The first stage of the review of its retail operating model was also concluded. In line with plans, 130 FTE were disestablished across employees, contractors and vacancies. During this period additional resources were added to strategically aligned areas such as trading, fuels strategy and asset development. Time bound roles committed to digital projects increased in line with strategy. The Company remains on track for a 200 FTE reduction in core business positions by FY26.

Lauriston Solar Farm

Construction is progressing well for the Genesis-FRV joint venture solar farm at Lauriston, Canterbury. Following site establishment work in the first half of the year, piling is nearing completion and key equipment, including the majority of solar panels, are on site. EA Networks connection works are progressing well and first generation remains on track for Q2 FY25.

ENDS

For investor relations enquiries, please contact: Tim McSweeney GM Investor Relations & Market Risk M: 027 200 5548	For media enquiries, please contact: Estelle Sarney External Communications Manager M: 027 269 6383

About Genesis Energy

1 Prior comparable period refers to Q4 FY23.

==> picture [53 x 53] intentionally omitted <==

Genesis Energy (NZX: GNE, ASX: GNE) is a diversified New Zealand energy company. Genesis sells electricity, reticulated natural gas and LPG through its retail brands of Genesis and Frank and is one of New Zealand’s largest energy retailers with approximately 500,000 customers. The Company generates electricity from a diverse portfolio of thermal and renewable generation assets located in different parts of the country. Genesis also has a 46% interest in the Kupe Joint Venture, which owns the Kupe Oil and Gas Field offshore of Taranaki, New Zealand. Genesis had revenue of $NZ2.4 billion during the 12 months ended 30 June 2023. More information can be found at www.genesisenergy.co.nz

==> picture [80 x 173] intentionally omitted <==

FY24 Q4 Performance Report

19 July 2024

FY24 Q4 Performance Highlights

Retail

Total Electricity Sales

1,536 GWh

54 GWh increase on pcp[1]

Total Customers

496,596

2.7% increase on pcp

Electricity Netback

$150/MWh

3.2% increase on pcp

Wholesale

Rankine Generation

743 GWh

638 GWh increase on pcp

PPA Price Received

$224/MWh

$166/MWh increase on pcp

Coal Stockpile

231 kt

730 kt decrease on pcp

Ku e[2] p

Kupe Gas Sales

2.0 PJ

Flat to pcp

Kupe LPG Sales

8.7 kt

0.3 kt decrease on pcp

Oil Production

43 kbbl

5.3% decrease on pcp

1. Pcp refers to Q4 FY23 unless otherwise stated.

2. Refers to Genesis’ 46% share.

Genesis Energy Limited FY24 Q4 Performance Report 2.

Performance Highlights

A constrained wholesale gas market and declining hydro storage have meant that additional thermal generation from Huntly was required through FY24 Q4. Generation from Huntly’s Rankine units was up 638 GWh on the prior comparable period (pcp). With energy shortages expected to continue, Genesis has reprioritised resources returning three Rankine units in July to run for up to three months as required, in conjunction with Unit 5. Operation of the reserve Rankine unit is contingent on ongoing staffing, unit reliability and fuel availability.

As a result of gas shortages and hydro levels, solid fuel supply at Huntly declined to 231 kT in the period. Additional coal supplies have been purchased and the first imports were delivered to Huntly in July 2024. Genesis intends to hold a stockpile of approximately 350 kT. Additional stocks will only be held to support contracts with other market participants. The sale process for Huntly Firming Options contracts, which enable participants to contribute to fuel security, is nearing conclusion with final negotiations ongoing with multiple bidders.

Genesis’ retail business continued its strong performance during the quarter, with growth in customer numbers and a 3.5% increase in the volume of electricity sold. The first stage of the review of its retail operating model was also concluded. In line with plans, 130 FTE were disestablished across employees, contractors and vacancies. During this period additional resources were added to strategically aligned areas such as trading, fuels strategy and asset development. Time bound roles committed to digital projects increased in line with strategy. The Company remains on track for a 200 FTE reduction in core business positions by FY26.

Lauriston Solar Farm

Construction is progressing well for the Genesis-FRV joint venture solar farm at Lauriston, Canterbury. Following site establishment work in the first half of the year, piling is nearing completion and key equipment, including the majority of solar panels, are on site. EA Networks connection works are progressing well and first generation remains on track for Q2 FY25.

==> picture [480 x 274] intentionally omitted <==

Note that an additional 24 contractor roles were disestablished in the period.

HYDROLOGY (GWH)

		Q4 FY24	Q4 FY23
	Hydro Generation	530	873
	Hydro Inflows	573	891
	Closing	260	486
	Storage	(85% of average)	(159% of average)

Genesis Energy Limited FY24 Q4 Performance Report 3.

Operating Performance

ELECTRICITY Q4 FY24 Volume Rate per unit $m	Q4 FY23	Variance	YTD FY24	YTD FY23
	Volume Rate per unit $m	Volume Rate per unit $m	Volume Rate per unit $m	Volume Rate per unit $m
Retail Resi Electricity 847 GWh $283/MWh 239.9	787 GWh $282/MWh 221.8	59 GWh $2/MWh 18.1	3,095 GWh $285/MWh 881.1	2,903 GWh $276/MWh 800.1
Retail SME Electricity 243 GWh $266/MWh 64.4	232 GWh $256/MWh 59.4	11 GWh $9/MWh 5.1	1,009 GWh $258/MWh 260.5	968 GWh $251/MWh 243.1
Retail C&I Electricity 446 GWh $223/MWh 99.5	462 GWh $204/MWh 94.4	(16)GWh $19/MWh 5.1	1,816 GWh $196/MWh 355.7	1,792 GWh $169/MWh 303.2
Total Retail Sales 1,536 GWh $263/MWh 403.9	1,481 GWh $254/MWh 375.6	54 GWh $9/MWh 28.2	5,919 GWh $253/MWh 1,497.3	5,663 GWh $238/MWh 1,346.4
Wholesale Electricity Sales 1,792 GWh $257/MWh 460.4	1,493 GWh $95/MWh 141.6	298 GWh $162/MWh 318.8	5,960 GWh $188/MWh 1,121.0	5,858 GWh $95/MWh 554.0
Generation Costs-Thermal 1,258 GWh $113/MWh 142.3	617 GWh $91/MWh 56.3	642 GWh $22/MWh 86.1	3,282 GWh $114/MWh 374.0	2,177 GWh $94/MWh 204.5
Generation Costs-Renewable 533 GWh - -	877 GWh - -	(343)GWh - -	2,677 GWh - -	3,680 GWh - -
Generation Costs-Total 1,792 GWh $79/MWh 142.3	1,493 GWh $38/MWh 56.3	298 GWh $42/MWh 86.1	5,960 GWh $63/MWh 374.0	5,858 GWh $35/MWh 204.5
Retail Purchases
Retail Purchases 1,620 GWh $257/MWh 416.1	1,564 GWh $91/MWh 141.6	57 GWh $166/MWh 274.5	6,229 GWh $182/MWh 1,135.5	5,956 GWh $88/MWh 526.0
Transmission and Distribution Costs 156.5	143.1	13.4	567.7	535.7
GAS Volume Rate per unit $m	Volume Rate per unit $m	Volume Rate per unit $m	Volume Rate per unit $m	Volume Rate per unit $m
Retail Resi Gas 0.7 PJ $47.4/GJ 32.0	0.6 PJ $43.5/GJ 28.0	0.0 PJ $3.8/GJ 4.0	2.5 PJ $47.0/GJ 116.8	2.4 PJ $42.8/GJ 104.0
Retail SME Gas 0.4 PJ $28.1/GJ 11.8	0.3 PJ $28.6/GJ 9.9	0.1 PJ -$0.5/GJ 1.9	1.5 PJ $28.9/GJ 42.6	1.3 PJ $28.0/GJ 37.0
Retail C&I Gas 0.8 PJ $23.9/GJ 20.1	0.9 PJ $20.3/GJ 19.1	(0.1) PJ $3.5/GJ 1.0	3.1 PJ $22.5/GJ 69.0	3.4 PJ $20.4/GJ 70.1
Total Retail Sales 1.9 PJ $33.0/GJ 63.9	1.9 PJ $29.6/GJ 57.0	0.0 PJ $3.4/GJ 7.0	7.0 PJ $32.5/GJ 228.3	7.2 PJ $29.4/GJ 211.0
Wholesale Sales 0.0 PJ $20.8/GJ 0.4	0.1 PJ $6.3/GJ 0.3	(0.0) PJ $14.6/GJ 0.0	0.2 PJ $12.8/GJ 2.6	2.8 PJ $7.9/GJ 22.2
Cost of Gas 2.0 PJ $12.8/GJ 25.0 Transmission and Distribution Costs 26.1	2.0 PJ $10.0/GJ 19.8 22.0	(0.0) PJ $2.8/GJ 5.2 4.1	7.2 PJ $9.9/GJ 71.5 92.9	10.0 PJ $9.2/GJ 92.4 80.1
LPG Volume Rate per unit $m	Volume Rate per unit $m	Volume Rate per unit $m	Volume Rate per unit $m	Volume Rate per unit $m
Bottled LPG Sales 5.1 kt $3,317/t 17.0 SME & Other Bulk LPG Sales 6.5 kt $1,844/t 12.0	5.0 kt $3,057/t 15.2 6.0 kt $1,696/t 10.2	0.2 kt $261/t 1.9 0.5 kt $148/t 1.8	19.2 kt $3,199/t 61.3 24.2 kt $1,806/t 43.7	19.0 kt $2,906/t 55.3 24.8 kt $1,668/t 41.4
Total Retail Sales 11.6 kt $2,493/t 29.0	11.0 kt $2,309/t 25.4	0.6 kt $184/t 3.6	43.3 kt $2,423/t 105.0	43.9 kt $2,206/t 96.8
Wholesale LPG Sales 1.9 kt $1,031/t 2.0	1.7 kt $921/t 1.6	0.2 kt $111/t 0.4	6.2 kt $1,012/t 6.3	7.3 kt $1,068/t 7.8
LPG Cost 13.6 kt $967/t 13.1	12.7 kt $1,597/t 20.3	0.9 kt -$630/t (7.2)	49.6 kt $1,007/t 50.0	51.2 kt $1,090/t 55.8
KUPE Volume Rate per unit **$m **	Volume Rate per unit **$m **	Volume Rate per unit **$m **	Volume Rate per unit **$m **	Volume Rate per unit **$m **
Oil Sales 0 Kbbl $0.0/bbl (4.1)1	79 Kbbl $80.7/bbl 6.4	(78.7)Kbbl N/A (10.4)	109 Kbbl $93.7/bbl 10.2	254 Kbbl $100.7/bbl 25.6
Gas Sales 2.0 PJ $8.3/GJ 16.2	1.9 PJ $8.7/GJ 16.9	0.0 PJ -$0.4/GJ (0.7)	7.0 PJ $8.1/GJ 56.5	8.4 PJ $7.6/GJ 63.9
LPG Sales 8.7 kt $539/t 4.7	9.0 kt $1,473/t 13.3	(0.3)Kt -$934/t (8.6)	30.0 kt $531/t 15.9	36.5 kt $705/t 25.8

1. Cost due to settlement of FX and oil hedges in the period.

All prices and volumes in this report are unaudited and subject to change. Reported numbers have been rounded and might not appear to add or multiply.

Genesis Energy Limited FY24 Q4 Performance Report 4.

Operating Metrics

RETAIL SEGMENT	Q4 FY24	Q4 FY23	% Change	Var.		Q3 FY24	% Change	Var.		YTD FY24	YTD FY23
RETAIL
Brand Net Promoter Score-Genesis Energy	21	25	(16.0%)		-4	19	10.5%		2
Interaction Net Promoter Score-Genesis	55	41	34.1%		14	56	(1.8%)		-1
Gross Customer Churn (3 month rolling average, %)	22.5%	20.3%	10.5%		2.1%	19.6%	14.8%		2.9%
Net Customer Churn (3 month rolling average, %)	14.3%	12.8%	11.7%		1.5%	12.8%	11.2%		1.4%
Electricity Netback ($/MWh)	$150.25	$145.59	3.2%		$4.66	$142.75	5.3%		$7.50	$146.46	$133.09
Gas Netback ($/GJ)	$18.38	$16.74	9.8%		$1.64	$18.56	(1.0%)		($0.18)	$17.72	$17.12
LPG Netback ($/t)	$1,486.86	$1,216.82	22.2%		$270.04	$1,287.35	15.5%		$199.51	$1,357.08	$1,169.59
CUSTOMER NUMBERS
Customers>1 Fuel	150,557	142,987	5.3%		7,570	149,750	0.5%		807	150,557	142,987
Electricity Only Customers	305,347	294,541	3.7%		10,806	302,687	0.9%		2,660	305,347	294,541
Gas Only Customers	10,821	11,918	(9.2%)		(1,097)	11,164	(3.1%)		(343)	10,821	11,918
LPG Only Customers	29,871	34,275	(12.8%)		(4,404)	31,151	(4.1%)		(1,280)	29,871	34,275
Total Customers	496,596	483,721	2.7%		12,875	494,752	0.4%		1,844	496,596	483,721
Electricity ICPs Active-Occupied	518,713	497,654	4.2%		21,059	514,080	0.9%		4,633	518,713	497,654
Gas ICPs Active-Occupied	109,679	108,060	1.5%		1,619	109,991	(0.3%)		(312)	109,679	108,060
LPG Customer Connections (#)	91,712	91,009	0.8%		703	92,202	(0.5%)		(490)	91,712	91,009
Total ICPs	720,104	696,723	3.4%		23,381	716,273	0.5%		3,831	720,104	696,723

WHOLESALE SEGMENT	Q4 FY24	Q4 FY23		% Change	Var.		Q3 FY24	% Change	Var.		YTD FY24	YTD FY23
GENERATION
Generation Emissions (ktCO2)	1,009		293	244.2%		716	441	128.0%		566	2,440	1,073
Generation Carbon Intensity (tCO2/GWh)	562		196	186.4%		366	343	63.8%		219	409	183
Rankine Output (GWh)	743		105	607.6%		638	290	156.2%		453	2,332	434
Rankines Fuelled by Coal (%)	99%		11%	791.9%		88%	67%	47.6%		32%	59%	22%
Total Gas Purchases (PJ)	6.3		7.3	(14.8%)		(1.1)	5.4	15.8%		0.9	25.4	28.0
Total Coal Purchases (PJ)	-		-	N/A		-	-	N/A		-	-	3.1
Electricity CFD Purchases-Wholesale (GWh)	385		319	20.9%		67	549	(29.8%)		(163)	1,966	1,349
Electricity CFD Purchase Price-Wholesale ($/MWh)	$178		$158	12.9%		$20	$150	18.8%		$28	$146	$124
Electricity CFD Sales-Wholesale (GWh)	384		392	(2.1%)		(8)	373	3.0%		11	1,623	2,000
Electricity CFD Sale Price-Wholesale ($/MWh)	$169		$131	28.7%		$38	$152	11.0%		$17	$147	$132
Gas Used In Internal Generation (PJ)	4.1		5.2	(21.4%)		(1.1)	4.2	(1.6%)		(0.1)	18.1	17.8
Weighted Average Gas Burn Cost ($/GJ)	$12.3		$10.0	23.1%		$2.3	$10.1	21.4%		$2.2	$10.3	$9.7
Coal Used In Internal Generation (PJ)	8.1		0.2	nm		7.9	2.2	263.7%		5.8	15.0	1.2
Weighted Average Coal Burn Cost ($/GJ)	$8.0		$7.9	0.7%		$0.1	$8.0	(0.0%)		($0.0)	$8.0	$7.9
Coal Stockpile-closing balance (kilotonnes)	231		962	(75.9%)		(730)	624	(62.9%)		(392)
POWER PURCHASE AGREEMENTS
Wind (GWh)-New	93		95	(1.8%)		(2)	105	(11.5%)		(12)	457	425
Average Price Received for PPA-GWAP ($/MWh)	$223.90		$57.77	287.6%		$166.13	$147.99	51.3%		$75.91	$143.84	$60.49

All prices and volumes in this report are unaudited and subject to change. Reported numbers have been rounded and might not appear to add or multiply.

Genesis Energy Limited FY24 Q4 Performance Report 5.

Operating Metrics

KUPE SEGMENT	Q4 FY24	Q4 FY23	% Change	Var.		Q3 FY24	% Change	Var.		YTD FY24	YTD FY23
KUPE
Oil Production (kbbl)	43	46	(5.3%)		(2)	46	(6.0%)		(3)	158	204
Average Brent Crude Oil (USD/bbl)	$84.94	$78.38	8.4%		$6.56	$83.25	2.0%		$1.69	$85.09	$87.30
LPG Production (kt)	8.7	8.5	2.5%		0.2	8.8	(1.3%)		(0.1)	30.1	36.3
LPG Production Yield (t/TJ)	4.4	4.4	1.5%		0.1	4.3	3.4%		0.1	4.3	4.3
OTHER	Q4 FY24	Q4 FY23	% Change		Var.	Q3 FY24	% Change		Var.	YTD FY24	YTD FY23
CORPORATE
Total Headcount (FTE)	1,255	1,268	(1.0%)		(13)	1,265	(0.8%)		(10)	1,255	1,268
Core Headcount (FTE)	1,214
Digital Projects Headcount (FTE)	41
Total Recordable Injuries	14	14	0.0%		-	3	366.7%		11	48	50

1. The severity and classification of injuries are subject to change based on medical assessment and acceptance by ACC. This may result in historical restatement.

2. Headcount reporting has been updated to differentiate between core staff and staff employed for digital projects..

.

All prices and volumes in this report are unaudited and subject to change. Reported numbers have been rounded and might not appear to add or multiply.

Genesis Energy Limited FY24 Q4 Performance Report 6.

Appendix: Retail Segment

Electricity Sales Volume (GWh)

==> picture [417 x 192] intentionally omitted <==

----- Start of picture text -----

Quarterly Resi Sales Volumes Quarterly SME Sales Volumes
Quarterly C&I Sales Volumes Rolling 12-month Sales Volume (RHS)
2,000 7,000
1,800
6,000
1,600
1,400 5,000
1,200
4,000
1,000
800 3,000
600 2,000
400
1,000
200
0 0
FY21 Q2 Q3 Q4 FY22 Q2 Q3 Q4 FY23 Q2 Q3 Q4 FY24 Q2 Q3 Q4
Q1 Q1 Q1 Q1
----- End of picture text -----

Gas Sales Volume (PJ)

Quarterly Resi Sales Volumes Quarterly C&I Sales Volumes

Quarterly SME Sales Volumes Rolling 12-month Sales Volume (RHS)

==> picture [417 x 160] intentionally omitted <==

----- Start of picture text -----

3.0 9.0
2.5 8.5
2.0 8.0
1.5 7.5
1.0 7.0
0.5 6.5
0.0 6.0
FY21 Q2 Q3 Q4 FY22 Q2 Q3 Q4 FY23 Q2 Q3 Q4 FY24 Q2 Q3 Q4
Q1 Q1 Q1 Q1
----- End of picture text -----

LPG Sales Volume (Tonnes)

Quarterly Bottled LPG Sales Volumes Quarterly Bulk & SME LPG Sales Volume Rolling 12-month Sales Volume (RHS)

==> picture [425 x 154] intentionally omitted <==

----- Start of picture text -----

16,000 50,000
14,000
12,000
10,000
8,000 40,000
6,000
4,000
2,000
0 30,000
FY21 Q2 Q3 Q4 FY22 Q2 Q3 Q4 FY23 Q2 Q3 Q4 FY24 Q2 Q3 Q4
Q1 Q1 Q1 Q1
----- End of picture text -----

Genesis Energy Limited FY24 Q4 Performance Report 7.

Appendix: Wholesale Segment

Waikaremoana Storage vs. Long Run Average (GWh)

==> picture [397 x 196] intentionally omitted <==

----- Start of picture text -----

Long Run Average Storage 12 Month Storage
250
200
150
100
50
0
Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
----- End of picture text -----

Tekapo Storage vs. Long Run Average (GWh)

==> picture [404 x 202] intentionally omitted <==

----- Start of picture text -----

Long Run Average Storage 12 Month Storage
1,000
900
800
700
600
500
400
300
200
100
0
Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
----- End of picture text -----

New Zealand Daily Storage (All Generators, GWH)

==> picture [414 x 193] intentionally omitted <==

----- Start of picture text -----

Long Run Average Storage 12 Month Storage
5,000
4,000
3,000
2,000
1,000
0
Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
----- End of picture text -----

Tongariro Generation (GWh/Day)

==> picture [425 x 209] intentionally omitted <==

----- Start of picture text -----

20 Year Average 7 Day Rolling Average
7.0
6.0
5.0
4.0
3.0
2.0
1.0
0.0
Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
Genesis Energy Limited FY24 Q4 Performance Report 8.
----- End of picture text -----

Appendix: Wholesale Segment

Generation by Power Station (GWh)

==> picture [408 x 201] intentionally omitted <==

----- Start of picture text -----

North Island Hydro South Island Hydro Huntly Units 1 to 4 Gas
Huntly Units 1 to 4 Coal Huntly Unit 5 Huntly Unit 6
Wind
2,500
2,000
1,500
1,000
500
0
FY21 Q2 Q3 Q4 FY22 Q2 Q3 Q4 FY23 Q2 Q3 Q4 FY24 Q2 Q3 Q4
Q1 Q1 Q1 Q1
----- End of picture text -----

Portfolio & Thermal Fuel Costs

==> picture [425 x 188] intentionally omitted <==

----- Start of picture text -----

Weighted Average Fuel Cost - Thermal ($/MWh)
Weighted Average Fuel Cost - Portfolio ($/MWh)
$140 100%
Renewable Contribution to Total Generation (RHS, %)
$120
80%
$100
60%
$80
$60
40%
$40
20%
$20
$0 0%
FY22 Q2 Q3 Q4 FY23 Q2 Q3 Q4 FY24 Q2 Q3 Q4
Q1 Q1 Q1
----- End of picture text -----

ASX Futures Spot Pricing ($/MWh)

==> picture [399 x 174] intentionally omitted <==

----- Start of picture text -----

$250 1-Year Contract 2-Year Contract 3-Year Contract
$230
$210
$190
$170
$150
$130
$110
$90
$70
Jul-21 Oct-21 Jan-22 Apr-22 Jul-22 Oct-22 Jan-23 Apr-23 Jul-23 Oct-23 Jan-24 Apr-24
----- End of picture text -----

Genesis Energy Limited FY24 Q4 Performance Report 9.

Appendix: Kupe Segment

Kupe Gas Sales Volume (Genesis Share, PJ)

==> picture [438 x 421] intentionally omitted <==

----- Start of picture text -----

Quarterly Sales Volume Rolling 12 Month Sales Volume (RHS)
3.50 12.00
3.00
10.00
2.50
8.00
2.00
6.00
1.50
4.00
1.00
2.00
0.50
0.00 0.00
FY22 Q2 Q3 Q4 FY23 Q2 Q3 Q4 FY24 Q2 Q3 Q4
Q1 Q1 Q1
Brent Crude Oil Spot Price (USD/bbl)
12 Months to Jun 23 12 Months to Jun 24
$120
$100
$80
$60
$40
$20
$0
Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
----- End of picture text -----

Kupe Oil Production Volume (Genesis Share, kbbl)

==> picture [413 x 198] intentionally omitted <==

----- Start of picture text -----

Quarterly Production Volume Rolling 12 Month Production Volume (RHS)
120.00 350
300
100.00
250
80.00
200
60.00
150
40.00
100
20.00
50
0.00 0
FY22 Q2 Q3 Q4 FY23 Q2 Q3 Q4 FY24 Q2 Q3 Q4
Q1 Q1 Q1
----- End of picture text -----

Genesis Energy Limited FY24 Q4 Performance Report 10.

Glossar – Performance y

Electricity
Retail Sales Residential	Sales of electricity to residential customers
Retail Sales SME	Sales of electricity to small business customers
Retail Sales C&I	Sales of electricity to commercial and industrial customers
Wholesale Sales	Sale of generated electricity onto the spot market, excluding PPA settlements and ancillary revenue
Generation Costs	Direct generation costs, inclusive of fuels and carbon
Retail Purchases	Purchases of electricity on spot market for retail customers
Transmission and Distribution Costs	Total electricity transmission and distribution costs, connection charges, electricity market levies and meter leasing
Gas
Retail Sales Residential	Sales of gas to residential customers
Retail Sales SME	Sales of gas tosmall business customers
Retail Sales C&I	Sales of gas tocommercial and industrial customers
Wholesale Sales	Sales of gas to wholesale customers
Gas Cost	Purchase of gas for sale (excludes gas used in electricity generation)
Transmission and Distribution Costs	Total gas transmission and distribution costs, gas levies and meter leasing
LPG
Bottled LPG Sales	Represents 45kg LPG bottle sales
SME & Other Bulk LPG sales	Represents SME and other bulk and third party distributors
Wholesale LPG Sales	Sales of LPG to wholesale customers
LPG Cost	Purchase of LPG for sale
Kupe
Oil Sales	Sale of crude oil
Gas Sales	Sale of gas
LPG Sales	Sale of LPG

Genesis Energy Limited FY24 Q4 Performance Report 11.

Glossary – Operational Metrics

Retail
Brand Net Promoter Score	Based on survey question “How likely would you be to recommend Genesis/ Frank Energy to your friends or family?” Calculated on 3 month rolling basis.
Interaction Net Promoter Score	Based on survey question “Based on your recent interaction with Genesis/Frank, how likely would you be to recommend Genesis/Frank to your family/friends?”
	Calculated on 3 month rolling basis.
Customers	Electricity and gas customers are defined by single customer view, regardless of number of connections (ICP’s)
Single Customer View	Represents unique customers which may have multiple ICPs
ICP	Installation Connection Point, a connection point that is both occupied and has not been disconnected (Active-Occupied)
LPG Customer Connections	Defined as number of customers
Gross Customer Churn	Defined as residential customers instigating a trader switch or home move
Net Customer Churn	Defined as percentage of residential customers that finalise in a period.
Resi, SME, C&I	Residential, small and medium enterprises and commercial & industrial customers
B2B	Business to Business, including both SME and C&I
Netback ($/MWh, $/GJ, $/tonne)	Customer EBITDAF by fuel type plus respective fuel purchase cost divided by total fuel sales volumes, stated in native fuel units (excluding corporate allocation costs and
	Technology & Digital cost centre)

Genesis Energy Limited FY24 Q4 Performance Report 12.

Glossary – Operational Metrics

Wholesale

Electricity Financial Contract Purchases – Wholesale	Settlement volumes of generation hedge purchases, including exchange traded and OTC contracts. Excludes PPAs, active trading, Financial Transmissions Rights
(GWh)	(FTRs) and Cap/Collar/Floor contracts
Electricity Financial Contract Purchases – Wholesale Price	Average price paid for Electricity Financial Contract Purchases – Wholesale
($/MWh)
Electricity Financial Contract Sales – Wholesale (GWh)	Settlement volumes of generation hedge sales, including exchange traded and OTC contracts. Excludes PPAs, active trading, Financial Transmissions Rights (FTRs)
	and Cap/Collar/Floor contracts
Electricity Financial Contract Sales – Wholesale Price	Average price paid for Electricity Financial Contract Sales – Wholesale
($/MWh)
Generation Emissions	Carbon emissions due to coal and gas electricity generation
Rankine Output	Electricity generated in the Huntly Rankine units
Rankine’s Fuelled by Coal (%)	The proportion of coal used in the Rankine units
Weighted Average Gas Burn Cost ($/GJ)	Total cost of gas burnt divided by generation from gas fired generation, excluding emissions
Coal Used In Internal Generation (PJ)	Results may be revised to reflect changes in coal kilo tonnes to PJ conversion rate and volume methodology
Weighted Average Coal Burn Cost ($/GJ)	Total cost of coal burnt divided by generation from coal fired generation, excluding emissions
Coal Stockpile – closing balance (Kt)	The coal stockpile closing balance in tonnes at Huntly Power Station
Power purchase agreements
Wind (GWh)	Energy purchased through long term agreements with generator
Average Price Received for Generation - GWAP	Price received at production node. (E.g. Waipipi at WVY1101 node)
($/MWh)
Corporate
Total Recordable Injuries	12-month rolling Total Recordable Injuries including Lost Time Injuries, Restrictive Work Injuries and Medical Treatment Injuries
Headcount (FTE)	Based on full time equivalent employees.
Core Headcount (FTE)	Relates to core business activities
Digital Projects Headcount (FTE)	Relates to time bound digital projects
Kupe
Oil Production	Production of crude oil
Oil Price realised (USD/bbl.)	The underlying benchmark crude oil price that is used to set the price for crude oil sales
LPG Production	Production of LPG

Genesis Energy Limited FY24 Q4 Performance Report 13.

Investor relations enquiries Tim McSweeney GM Investor Relations & Market Risk +64 27 200 5548