FY18 Q3 Performance Report

FY18 Q3 PERFORMANCE REPORT In the third quarter of FY18, Genesis Energy Limited demonstrated the benefit of its diverse portfolio over another volitile market period, and an improved performance from its Customer segment. The attached presentation contains full details of performance metrics for the quarter. CUSTOMER It was an improved performance from the Customer segment as increases in B2B and LPG sales were offset by residential electricity and gas volume declines, in part due to one of the warmest summers on record. The highlight of the quarter was the positive sentiment coming from Genesis customers, our net promoter score up 3 percentage points, and churn dropped 1.2 percentage points below the comparable quarter. Residential customer losses continued to decline over the period, these turned to gains in the month of March and B2B sales lifted by 21% over the quarter. B2B gas sales were up 31%. Netback fell to $80/MWh due to increased investment in marketing and business sales teams, increased C&I volumes, and lines cost timing impacts. LPG sales volumes rose 55%. WHOLESALE Total generation volumes were up 16% with thermal generation up 40% and renewable down 9%. Renewable volumes and forced outage factors were affected by the outage at Tekapo B, and a generator failure at Tokaanu. Tekapo lake ended the period on 122% of average. National storage recovered through the quarter to end on 111% of average with average price received for generation up 70% to $89/MWh. Our thermal generation continued to support the volatile market conditions with 34GWh of swaptions called. The coal stockpile reduced 27% to end on 257kt. KUPE Gas production of 3.0PJ was up 22%, as the field operated at 93.5% of maximum plant capacity to support generation requirements and swaption calls. LPG yield was 2.7% up, now stable above 4 tonnes per TJ of gas produced. Oil sales volumes fell 15% due to export shipment timing however Brent Crude spot prices rose 24% to USD67/bbl. "Genesis is seeing a positive response from customers as a result of brand recognition and through innovation delivered, with churn below the comparable quarter and residential gains in March" said James Magill, Executive General Manager Product Marketing. ENDS For media enquiries, please contact: Emma-Kate Greer Group Manager Corporate Relations M: 027 655 4499 For investor relations enquiries, please contact: Wendy Jenkins Group Manager Planning and Investor Relations Genesis Energy P: 09 951 9355 M: 027 471 2377 About Genesis Energy Genesis Energy (NZX: GNE, ASX: GNE) is a diversified New Zealand energy company. It sells electricity, reticulated natural gas and LPG through its retail brands of Genesis Energy and Energy Online. It is New Zealand's largest energy retailer with around 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 Energy also has a 46% interest in the Kupe Joint Venture, which owns the Kupe Oil and Gas Field offshore of Taranaki, New Zealand. Genesis Energy had revenue of $NZ2bn during the 12 months ended 30 June 2017. More information can be found at www.genesisenergy.co.nz End CA:00316833 For:GNE Type:MKTUPDTE Time:2018-04-17 08:31:40