GENUSPLUS GROUP LTD — Capital/Financing Update 2023

Nov 29, 2023

ASX Release 30 November 2023 For immediate release to the market

GENUSPLUS & SAMSUNG C&T JOINT VENTURE AWARDED MELBOURNE RENEWABLE ENERGY HUB PROJECT

HIGHLIGHTS:

• GenusPlus and Samsung C&T joint venture has been awarded Melbourne Renewable Energy Hub (MREH) Project

• Joint venture comprises Genus 30% and Samsung C&T 70%

• The Contract for MREH engineering, procurement, construction, and commissioning for BOP scope and BESS installation works is valued at approximately $200 million

• The MREH Project will be a 600MW/1600MWh Battery Energy Storage System (BESS)

National essential power and communications infrastructure provider GenusPlus Group Ltd (ASX: GNP) ( Genus or the Company ) has, in joint venture with Samsung C&T Corporation, been awarded three contracts for the engineering, procurement, construction, and commissioning for the Balance of Plant scope and BESS installation for a 600MW/1,600MWh battery energy storage project for Phase 1 of the Melbourne Renewable Energy Hub (MREH) on a lump sum and turn-key basis.

MREH is a globally significant energy storage precinct located 25km northwest of Melbourne’s commercial business district. The MREH project is owned by Equis Development Pte. Ltd (“Equis”), Asia-Pacific’s leading infrastructure developer and Victoria’s State Electricity Commission (SEC). Equis’ major shareholders are Abu Dhabi Investment Authority and Ontario Teachers' Pension Plan Board. As a Project of State Significance with the Victorian Government gazetting a Planning Scheme amendment in April 2021, MREH has completed all required planning and environmental approvals and community impact assessments. The combined contract values are approximately $200 million with works to commence immediately and estimated be completed by June 2025.

Fully developed, MREH will be a 1.2GW/2.4GWh Battery Energy Storage System (BESS).

MREH Phase 1 has been divided into 3 projects, 2 projects each comprising 400MWh of 2-hour storage capacity, which will be owned 70% by Equis and 30% by the SEC and one project comprising 800MWh of 4 hour storage capacity which will be owned 51% by Equis and 49% by the SEC.

The joint venture, where Genus has a 30% interest, will perform the turn-key contract for the engineering, procurement, construction, and commissioning for BOP scope and BESS installation of the MREH Project.

Genus Managing Director David Riches welcomes the opportunity to play an important role in delivering this Project of State Significance, helping to lead the transition to Australia’s clean future.

“ We are delighted to have secured this contract alongside our joint venture partner Samsung C&T. This is a milestone project for Genus. This contract gives us great confidence that the market sees our capability and capacity to deliver a project of this size and complexity. We look forward to working closely with EQUIS to deliver the project safely, successfully and on time.

The Board of the Company has authorised the release of this announcement to the market.

08 9390 6999 Level 1, 63-69 Abernethy Road, Belmont WA 6104 www.genus.com.au

GenusPlus Group Ltd | ABN 86 620 283 561

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ASX Release 30 November 2023 For immediate release to the market

For more information:

INVESTOR ENQUIRIES

David Riches investors@genus.com.au +61 8 9390 6999

Damian Wright investors@genus.com.au +61 8 9390 6999

ABOUT GENUSPLUS

GenusPlus Group Ltd is a specialist power and communications infrastructure and services provider operating across Australia. With years of practical experience across Australia, we design, build and maintain electrical transmission and distribution networks, substations and battery systems.

We enable customers to integrate new generation technology into traditional networks and support emerging networking solutions, meeting the demands of a carbon neutral economy.

Capitalising on our expertise in power networks and using the world’s best knowledge and technology, we also specialise in delivering integrated, efficient and scalable communication network solutions, including network design, and fixed and wireless infrastructure supported by real time network management expertise and capability.

Further information is available at www.genus.com.au.

08 9390 6999 Level 1, 63-69 Abernethy Road, Belmont WA 6104 www.genus.com.au

GenusPlus Group Ltd | ABN 86 620 283 561

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