FY26 Q1 Performance Report

MARKET RELEASE 23 October 2025 NZX: GNE / ASX: GNE FY26 Q1 Performance Report Genesis Energy delivered a strong first-quarter performance for FY26, demonstrating the resilience and flexibility of its diversified portfolio. The Company benefited from above-average hydrological conditions, improved retail pricing discipline, and effective portfolio optimisation, positioning Genesis well to achieve FY26 guidance. Q1 FY26 Performance Highlights: • Hydro generation of 904 GWh (+218 GWh increase on pcp), benefiting from above-average rainfall and strong operational availability • Genesis lake levels increased from 102% of average at 30 June to 113% of average at 30 September, providing strong water security heading into summer • Thermal generation of 784 GWh (498 GWh decrease on pcp) reflecting reduced reliance on coal and gas due to strong hydro performance and portfolio optimisation • Huntly BESS (100MW/200MWh) progressing well with foundations ready for equipment deliveries by December; transformer manufacturing on schedule for Q1 FY27 commissioning • Biomass supply agreements advancing: Carbona MOU signed (120kt p.a.); Foresta Term Sheet signed (180 ktpa); $6M EECA funding secured to support biomass development • Billing and CRM re-platform release 1 on track for go-live before the end of October (circa 50,000 ICPs); release 2 well underway • Digital investment programme remains on track to deliver $145M Big Rock initiatives • The planned outage for Unit 5 commenced on 1 October and lasted 3 months, with 2 PJ of gas successfully on-sold to the market • All planned maintenance is progressing to schedule. Genesis's upcoming Investor Day on 26-27 November 2025 in Taupo will detail their Gen35 strategy execution, capital allocation framework, and long-term earnings pathway. 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