Successful Completion of Rights Offer

Genesis Energy Limited (“Genesis”) is pleased to announce the successful completion of its NZ$300 million underwritten 1 for 7.9 pro rata renounceable rights offer (“Rights Offer”). The Rights Offer received strong shareholder support with NZ$242.7 million of applications from eligible shareholders. This represents a take-up rate of approximately 80.9%, including the participation of the Crown (which will maintain its 51.00% shareholding following completion of the Rights Offer). Eligible shareholders who took up their rights in full also applied for approximately NZ$48.1 million of additional new shares, which will be taken into account in the shortfall bookbuild. Genesis Chief Executive, Malcolm Johns, said, “Genesis is delighted with the strong level of take-up by its eligible shareholders in the Rights Offer, including the Crown. The success of the equity raise is a strong endorsement of the Gen35 strategy from shareholders.” Settlement of the Rights Offer is expected to occur on 24 March 2026 for the ASX and on 25 March 2026 for the NZX, with allotment and commencement of trading on NZX and ASX expected to occur on 25 March 2026. The new shares issued under the Rights Offer will rank equally with Genesis’ existing shares. Shortfall bookbuild Approximately 27.9 million new shares are available for the shortfall bookbuild component of the Rights Offer, to be conducted today by Jarden Securities Limited as the Lead Manager. Eligible shareholders who did not take up their rights in full and shareholders who were ineligible to participate in the Rights Offer will receive a pro rata share of any positive difference between the bookbuild price (which will be determined by Genesis in consultation with the Lead Manager) and the application price for the new shares under the Rights Offer of NZ$2.05 (or the Australian dollar equivalent of any such positive difference, calculated at the prevailing A$:NZ$ exchange rate near the time of payment by the Registrar, for Australian shareholders who did not take up their rights in full). However, there is no guarantee that any such positive difference will be realised. Eligible shareholders who applied for additional new shares in the shortfall bookbuild will be allocated new shares at the bookbuild price (subject to scaling). For further information in respect of the Rights Offer, including the shortfall bookbuild, please refer to the equity raise presentation and Offer Document released to the NZX and ASX on 23 February 2026. 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 Rights Offer, including the shortfall bookbuild, 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 Rights Offer, including the shortfall bookbuild, 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.