Genesis Energy (GNE) investor relations material

Executive summary

• Delivered a solid Q4 FY26 result, leveraging flexible generation and fuel portfolio to optimize outcomes despite warmer-than-expected temperatures impacting financials.

• Migration to a single brand and simplified product offering in final stages, with customer numbers reflecting this transition.

• Strategic progress on the FY32 Growth Plan, including battery storage, solar pipeline, and digital transformation initiatives.

Financial highlights

• Electricity netback rose to $189/MWh, up 11.6% year-over-year, reflecting improved margin quality.

• Total customers declined 5.8% year-over-year to 490,227, due to brand consolidation.

• Total electricity sales were 1,543 GWh, down 153 GWh year-over-year, impacted by milder temperatures and brand transition.

• Hydro generation was 703 GWh (down 1 GWh year-over-year); thermal generation was 527 GWh (down 567 GWh year-over-year).

• Kupe oil production fell 23% year-over-year to 26 kbbl; gas sales decreased 0.4 PJ to 1.3 PJ.

• FY26 EBITDAF expected at the lower end of guidance due to warmer Q4 temperatures.

Outlook and guidance

• Hydro storage increased, positioning well for Q1 FY27.

• Huntly Unit 5 hibernation through December 2026, with gas sales to industrial customers supporting this move.

• Brand and marketing expenditure to normalize from FY28 after one-off costs in FY26 ($5m) and FY27 ($6m).

• Digital transformation and major project spend of $145m remains on track, with some phasing into FY27.