only Capital Raising

Presentation

use February 2022

ersonalApproved by the Board of Genex Power Limited

Diverse renewable energy

KIDSTON CLEAN ENERGY HUB

project portfolio

50MW Kidston Solar Project (Operating)

only

250MW/2000MWh Kidston Pumped Storage

Hydro Project (Construction)

Portfolio of renewable energy

Up to 200MW Kidston Wind Project

generation and storage projects

(Development)

Revenue substantially underpinned by

Up to 270MW Kidston Stage 2 Solar Project

(Feasibility)

long-term contracts

BOULDERCOMBE BATTERY PROJECT (BBP)

  • 100MW of operating assets

use

50MW/100MWh Large-Scale Battery Energy Storage System "BESS" (Development)

  • 250MW in construction

JEMALONG SOLAR PROJECT (JSP)

• Up to 520MW of pipeline assets

ersonal

50MW Jemalong Solar Project (Operating)

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onlyCapital Raising

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G n x | Green Energy, On Demand | Presentation

3

Equity Raising Overview

A non-underwritten $40M placement to sophisticated, professional and institutional investors (Placement)

OFFER STRUCTURE AND SIZE

Approximately 266.7M new fully paid ordinary shares (New Shares) to be issued under the Placement, representing 25%

of existing shares on issue

Share Purchase Plan capped at $10.0M1 (SPP)

only

Offer Price of $0.15 per new share, represents a:

11.8% discount to the last close on 18 February 2022 of $0.170 per share

OFFER PRICE

13.2% discount to the 5-day volume weighted average price of $0.173 on 18 February 2022

USE OF FUNDS

Funds raised and a $35.0M senior debt facility will be used to reach financial close and fund construction of the

Bouldercombe Battery Project (BBP), for general working capital and transaction costs associated with the Placement

use

(See slide 5 for further details)

BALANCE SHEET

Post capital raise, the BBP will be fully funded and Genex will retain working capital of $16.5M (before the costs of the

Placement) to support the business in executing its portfolio development strategy

RANKING

New Shares issued under the Placement will rank pari passu with existing fully paid ordinary shares

SYNDICATE

Canaccord Genuity (Australia) Limited and Morgans Corporate Limited are Joint Lead Managers and Bookrunners to the

Placement

N te 1: Shares to be issued at the lower of $0.15 per share or the 5-day volume weighted average price prior to the close of the SPP

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Sources and Uses

Proceeds from the Placement and a new $35M debt facility will be used to reach

financial close and fund construction of the BBP, with proceeds being applied to:

Sources

$M1

1) BBP Capital Expenditure

Existing cash (31 December 2021)

$36.62

• Total all-in capital expenditure of $60.0M2, inclusive of finance costs and contingency.

Equity Raising

$40.00

only

• $35.0M new 14-year fixed rate senior debt facility to underpin capex, with balancing $25.0M

New BBP Debt Facility

$35.00

provided by proceeds of the equity raising.

Total

$111.62

2) Repayment of CEFC Facility

• $3.0M committed to repayment of the short term tranche of funds advanced in May 2021 under the

Uses

$M1

existing CEFC facility for K2-Hydro, as per the agreed repayment terms of that facility.

BBP Capex2

$60.00

use

Repayment of K2-Hydro CEFC facility

$3.00

3) General Working Capital and Costs of the Placement

• The balancing $16.5M will be applied to:

Current cash committed to projects (DSRA, K2-Hydro etc.)3

$32.14

Working Capital and costs of equity raising

$16.48

• General working capital for Genex to continue to implement its portfolio development

Total

$111.62

strategy during the construction phase of K2-Hydro and the BBP; and

Note 1: Calculated based upon completion of the Placement, excluding any proceeds from the Share Purchase Plan

• Transaction costs associated with the Placement.

Note 2: Subject to movements in the AUD:USD exchange rate

Note 3: Portion of current cash balances committed to K2-Hydro, Jemalong Solar Project and Kidston Solar Project ie. DSRAs,

construction contingency accounts etc.

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Genex Power Ltd. published this content on 22 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 February 2022 23:28:04 UTC.