Genesis completes NZ$100m Placement

Genesis successfully completes Placement component of NZ$400m Equity Raising Genesis Energy Limited (“Genesis”) is pleased to announce that it has successfully completed the bookbuild for the underwritten placement of NZ$100 million at a price of NZ$2.15 per share (“Placement”), as part of its NZ$400 million equity raise announced on 23 February 2026 (“Offer”). Malcolm Johns, Genesis’ Chief Executive said, “The Placement received strong investment demand and support from our existing shareholders, including the Crown, while also welcoming new institutional investors to our share register. This outcome reflects investor confidence in the Gen35 strategy, which is designed to position the business for growth by increasing the amount of renewable generation in our portfolio and dispatchable firming capacity to enhance value for Genesis shareholders while also supporting the security of the New Zealand electricity market.” The Placement was fully subscribed at the offer price of NZ$2.15 per share. Genesis endeavoured to allocate to all existing eligible shareholders who bid for their pro-rata allocation of the Placement, at least that amount of new shares. Settlement of the Placement is expected to occur on 26 February 2026 for the ASX and on 27 February 2026 for the NZX, with allotment and commencement of trading on NZX and ASX expected to occur on 27 February 2026. The new shares issued will not be entitled to the interim dividend to be paid on 25 March 2026 (with a record date of 26 February 2026). As announced on 23 February 2026, Genesis is also undertaking an underwritten pro rata renounceable rights offer to raise NZ$300 million at a price of NZ$2.05 per share (“Rights Offer”). Eligible shareholders may apply for 1 new share for every 7.9 existing shares held as at 7:00pm (NZDT) / 5:00pm (AEDT) on the record date of 2 March 2026. New shares issued on completion of the Placement will be eligible to participate in the Rights Offer. Full details regarding the Rights Offer are set out in the Offer Document, which was released to the NZX and ASX on 23 February 2026. All eligible shareholders are encouraged to visit www.shareoffer.co.nz/genesis and apply for the Rights Offer online from 4 March 2026 until 5:00pm (NZDT) / 3:00pm (AEDT) on 17 March 2026. Key dates (refer to the attachment) ENDS For investor relations enquiries, please contact: David Porter Investor Relations Manager M: 020 4184 1186 For media enquiries, please contact: Graeme Muir Group Manager Communications M: 027 202 4885 About Genesis Energy: Genesis Energy (NZX: GNE, ASX: GNE) is a diversified New Zealand energy company. Genesis sells electricity, reticulated natural gas and LPG and is one of New Zealand's largest energy retailers with approximately 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 also has a 46% interest in the Kupe Joint Venture, which owns the Kupe Oil and Gas Field offshore of Taranaki, New Zealand. Genesis had revenue of NZ$3.7 billion during the 12 months ended 30 June 2025. More information can be found at www.genesisenergy.co.nz Important Notice EXCEPT AS OTHERWISE EXPRESSLY AGREED WITH GENESIS, THIS ANNOUNCEMENT IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES OF AMERICA, ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES, CANADA, SOUTH AFRICA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, RELEASE OR DISTRIBUTION WOULD BE UNLAWFUL. FURTHER, THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND IS NOT AN OFFER OF SECURITIES IN ANY JURISDICTION. This announcement or any part of it does not constitute or form part of any offer to issue or sell, or the solicitation of an offer to purchase, subscribe for or otherwise acquire, any securities in the United States (including its territories and possessions, any state of the United States and the District of Columbia (the "United States" or "US"), Canada, South Africa, Japan or any other jurisdiction in which the same would be unlawful. No public offering of the new shares is being made in any such jurisdiction. The new shares offered in the Placement and the Rights Offer have not been and will not be registered under the US Securities Act of 1933, as amended (the "Securities Act"), or under the securities laws or with any securities regulatory authority of any state or other jurisdiction of the United States, and accordingly the new shares may not be offered, sold, pledged or transferred, directly or indirectly, in, into or within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in compliance with any applicable securities laws of any relevant state or other jurisdiction of the United States. There is no intention to register any portion of the offering in the United States or to conduct a public offering of securities in the United States. The new shares offered in the Placement and the Rights Offer have not been approved or disapproved by the US Securities and Exchange Commission, any state securities commission or other regulatory authority in the United States, nor have any of the foregoing authorities passed upon or endorsed the merits of the placing or the accuracy or adequacy of this announcement. Any representation to the contrary is a criminal offence in the United States.