Genesis completes NZ$100m Placement

Tuesday 24th February 2026

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

Market Announcement - Placement Completion

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