FY26 Q1 Performance Report

MKTUPDTE

Thu, Oct 23 2025 08:30 am

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