Genesis Energy (GNE) AGM 2026 summary

Opening remarks and agenda

• Hybrid AGM opened with notice and quorum confirmed; agenda covered board highlights, CEO review, Q&A, Simon Mackenzie’s director-election resolution, and general business.

Financial performance review

• FY26 normalized EBITDAF was NZD 522m, up NZD 52m YoY; record gross margin was NZD 949m, up 10%, with netback of NZD 176/MWh.

• FY26 operating free cash flow was NZD 322m; debt/EBITDAF declined to 1.6x from 2.6x in FY25 following the NZD 400m March 2026 equity raise.

• FY27 normalized EBITDAF guidance is NZD 480m–NZD 520m, assuming P50 hydro, wind and solar, and subject to fuel, plant reliability, hydrology and policy conditions.

Board and executive committee updates

• Simon Mackenzie joined the board on 12 August 2026; Catherine Drayton stepped down after seven years of service. Mackenzie’s energy, data, customer and health-and-safety experience was cited.

• Emma Oettli became CFO in April 2026, reflecting investment in internal leadership succession.

• From 1 July 2026, committees are Audit and Risk, Capital and Markets, Human Resources and Remuneration, and Health, Safety and Wellbeing; the full board handles nominations.

• A new health, safety and wellbeing committee was established; recordable injuries fell from 48 to 37, with a critical-risk framework upgrade planned for FY27.