Genesis Energy (GNE) Investor presentation summary

Strategic rationale for biomass transition

• Torrefied wood pellets offer a proven, storable, and commercially viable alternative to coal, supporting energy security and decarbonization goals.

• Active conversions of coal plants to biomass are underway, with successful trial burns and offtake agreements stimulating domestic production.

• Biomass integration diversifies fuel portfolios, stabilizes domestic pricing, and reduces exposure to international commodity and carbon price volatility.

• Development of premium, low-carbon firming products aims to create value and mitigate the cost gap with coal.

• Deployment within three years aligns with the remaining lifespan of Rankine units, locking in value.

Operational and commercial progress

• Construction of a 100 MW/200 MWh BESS at Huntly is underway, with commercial operations targeted for Q1 FY27 and a project budget of $135m.

• Multiple biomass supply agreements are in progress, including signed MOUs and term sheets with key partners for up to 180 kt p.a.

• The pathway targets 300 kt p.a. of biomass, with ongoing engagement of consortia for additional locations.

• Biomass supports capacity markets and enhances flexibility across minutes to years, complementing renewables and gas.

Supply chain and technology

• A domestic biomass supply chain is emerging, leveraging NZ's 16 mtpa of available fibre and established torrefaction technology.

• Foresters are actively engaging in commercial supply agreements, and logistics expertise supports a smooth transition from coal.

• Capital modifications to existing assets are expected to be significantly less than building new biomass generation.

• Successful trial burns at Huntly demonstrate operational compatibility and readiness.