Kidston Hydro Project - Construction Update

Kidston Pumped Storage Hydro - Construction Update

GENEX POWER LIMITED (ASX:GNX)

Level 6, 28 O'Connell Street, Sydney NSW 2000

GPO Box 4626, Sydney NSW 2001

ABN: 18 152 098 854

11 November 2021 onlyASX Limited

Company Announcements Platform

useGenex Power Limited (ASX: GNX) (Genex or the Company) is pleased to provide the following

construction update in relation to the 250MW Kidston Pumped Storage Hydro Project (K2-Hydro or the Project) between the months of October and November 2021 (the Period). The construction schedule remains on track and on budget, and the Company continues to work closely with its principal construction contractors, McConnell Dowell and John Holland, to deliver the Project in Q4 CY2024.

The Project construction continues progress to schedule with design progressing and key deliverables being met. Key activities on the Project and works undertaken at site during the Period include:

• Andritz Hydro successfully completed the model tests at their hydraulic laboratory in Graz,

personal		Austria for the 2 x 125MW turbines to be used for the Project;
• Completion of the airstrip upgrades to facilitate fly-in-fly-out operations for construction
	personnel, with 3 -4 flights arriving per week;
• Completion of the main Construction Site Office and workshops;
• Completion of onsite establishment of aggregate crushing plant and concrete batching plant,
	with aggregate crushing and concrete batching operations ongoing;
For	• Completion of main access road into the site;
•	Completion of the refurbishment works for the Oaks Rush Accommodation Village, with main

facility buildings and 450 bed camp expansion complete;

• Continuation of site infrastructure upgrades with mobile and Wi-Fi communications fully operational;

• Clearing and earthworks preparation for the two onsite switchyards, and

• Continuation of Main Access Tunnel (MAT) Portal face stabilisation works with the 12m high temporary access platform complete.

T [phone] E [e-mail] W www.genexpower.com.au

The site activity continues to ramp-up, with works commenced on the following near term construction milestones:

only	• MAT Portal stabilisation works being completed using both conventional drilling rigs working
from the temporary access platform and wagon drills supported on ropes;
	• Preparatory works for the commencement of the MAT tunnelling works with mobilisation of key
	equipment and sprayed concrete trials underway;
	• Commencement of trial works for the Wises Dam embankment;
use	• Finalisation of the 22kV Distribution Line with connection to Ergon substation; and
• Establishment works including road upgrades for the Mt Fox substation being undertaken by
Powerlink Queensland.

Overall the construction program continues to track to schedule for first energisation in early CY2024 and completion in Q4 CY2024.

personalFor Figure 1: K2-Hydro site establishment works

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Figure 2: Drilling works ongoing for MAT Face Stabilisation

Figure 3: Wises Dam - Embankment Works

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11 November 2021

Figure 4: Mobilisation of Tunnelling Equipment

Figure 5: Andritz Hydro Model Testing - Graz, Austria

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Figure 6: Kidston Pumped Storage Hydro Project logo worn by Genex and contractors

onlyuse personalThis announcement was approved by the Board of Genex Power Limited. For

11 November 2021

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