FY18 Q4 Performance Report

FY18 Q4 PERFORMANCE REPORT In the fourth quarter of FY18, Genesis Energy Limited achieved positive movement in customer churn metrics and brand engagement, whilst its generation portfolio in combination with the Kupe asset provided flexibility in a volatile wholesale market. The attached presentation contains full details of performance metrics for the quarter. CUSTOMER - Customer churn fell nearly 4 percentage points on the prior comparable period (pcp) to 18% and customers with more than one product were up by 5,181. Netback fell 5% on pcp to $82/MWh due to increased investment in marketing and business sales teams, and increased B2B volumes. - Total electricity sales volume was up 9% to 1,642 GWh, B2B increased 23%, offset by a 1% fall in residential sales volumes. - Total gas sales volume was up 12% to 2.1 PJ, B2B up 16%, and total LPG sales volume up 119% on pcp. WHOLESALE - Tekapo's 80 MW generator returned to service on 2 June with Lake Tekapo storage at 144% of average. - Average generation price received was $84/MWh. LWAP/GWAP ratio was down 5 percentage points to 98%, a positive result. - Total generation volume was down 16% on pcp to 1,603 GWh. Carbon emissions were down 14% on pcp to 454 ktCO2. KUPE - Field production for the quarter was 83% of maximum capacity, down 13 percentage points on pcp, partly due to a 4.5 day plant outage and lower demand from generation. Gas production was down on pcp from 3.0 PJ to 2.7 PJ. - LPG sales were up 8% on pcp to 11.8 kt with LPG yield at 4.29 t/TJ of gas produced, up 14% on pcp. - 196 kbbl of oil sales were recorded, down 21% on pcp. Average spot price for oil was up 50% on pcp, to USD74/bbl. "Genesis' investment in brand and Energy Management products and service levels are having a measurable impact on brand perception, resulting in below market churn rates" 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:00320958 For:GNE Type:MKTUPDTE Time:2018-07-18 08:30:59