Genesis Energy (GNE) Investor presentation summary

Strategic portfolio transformation

• Targeting up to 500MW of solar operational by FY28, with 63MWp under construction and 127MWp secured; over 500MW in the opportunity pipeline.

• 100MW/200MWh battery energy storage system (BESS) at Huntly to be operational in Q1 FY27, supporting solar integration.

• Secured exclusive negotiation rights for up to 10PJ of gas storage at Tariki, aiming for 2026 operation to enable seasonal flexibility.

• Biomass supply chain under review, with 300kt targeted for Huntly and ongoing supplier engagement.

• Customer flexibility initiatives include software development and expansion of distributed solar and battery solutions.

Lauriston Solar Farm project

• Lauriston Solar Farm is New Zealand's first non-recourse, EPC-wrapped, grid-scale solar farm, with FID in December 2023 and first generation expected December 2024.

• 63MWp DC (47MW AC) capacity, expected to generate ~100GWh annually on 94 hectares.

• Direct connection to EA Networks, with generation profile matching local irrigation demand.

• Three feeders provide electrical resilience; project remains on schedule and within $104m budget.

• EPC contract model involves a project SPV, FRV as construction manager, and Beon for engineering, procurement, and construction.

Funding and asset development models

• Multiple funding options: 100% offtake, on-balance sheet ownership, or minority interest in project-financed SPVs.

• Offtake agreements allow long-term renewable supply without capital investment or direct risk exposure.

• On-balance sheet assets provide full control but impact debt metrics; fastest to market.

• SPV model uses project finance, is highly geared, and sits off balance sheet with no impact on debt/EBITDAF.