Genie Energy : Investor Presentation - March 2022

Genie Energy Ltd

(NYSE: GNE)

Investor Presentation

March 2022

Safe Harbor Statement

This presentation contains forward-looking statements. Statements that are not historical facts are forward-looking statements and such forward-looking statements are statements made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Examples of forward-looking statements include:

• statements about Genie's and its divisions' future performance;
• projections of Genie's and its divisions' results of operations or financial condition; and
• statements regarding Genie's plans, objectives or goals, including those relating to its strategies, initiatives, competition, acquisitions, dispositions and/or its products and offerings.

Words such as "believe," "anticipate," "plan," "expect," "intend," "target," "estimate," "project," "predict," "forecast," "guideline," "aim," "will," "should," "likely," "continue" and similar expressions are intended to identify forward-looking statements but are not the exclusive means of identifying such statements. Readers are cautioned not to place undue reliance on these forward- looking statements and all such forward-looking statements are qualified in their entirety by reference to the following cautionary statements.

Forward-looking statements are based on Genie's current expectations, estimates and assumptions and because forward- looking statements address future results, events and conditions, they, by their very nature, involve inherent risks and uncertainties, many of which are unforeseeable and beyond the Genie's control. Such known and unknown risks, uncertainties and other factors may cause Genie's actual results, performance or other achievements to differ materially from the anticipated results, performance or achievements expressed, projected or implied by these forward-looking statements.

These factors include those discussed under the headings "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations in Genie's periodic filings made with the Securities and Exchange Commission.

Genie cautions that such factors are not exhaustive and that other risks and uncertainties may cause actual results to differ materially from those in forward-looking statements.

Forward-looking statements speak only as of the date they are made and are statements of Genie's current expectations concerning future results, events and conditions and Genie is under no obligation to update any of the forward-looking statements, whether as a result of new information, future events or otherwise.

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The Foundation

Largest shareholder group has a consistent track record of building

businesses & creating significant value for shareholders

	Company	Market Value	Most Recent
		@9/14/09	Market Value*
	Genie Energy (NYSE: GNE)	10/28/11 (Spin-off)	$179M
	IDT Corp (NYSE: IDT)	$53M	$868M
	IDW Media (NYSE American: IDW)	9/14/09 (Spin-off)	$28M
	Straight Path Communications (NYSE: STRP)	7/31/13 (Spin-off)	$2,164M
			(sold to VZ 2/18)
	Rafael Holdings (NYSE: RFL)	3/26/18 (Spin-off)	$50M
	Zedge (NYSE American: ZDGE)	6/1/16 (Spin-off)	$89M
	Total	$53M	$3,378M	3
* Based on Yahoo market value as of 3/17/22

Genie Energy Highlights

HQ	Newark, NJ
Key Management and Board Members:
CEO	Michael Stein
CFO	Avi Goldin
Chairman	Howard Jonas
Lead Independent Dir.	Wesley Perry
Employees	~150
Tickers (NYSE)	GNE, GNEPRA

Fiscal 2021 Pro-forma *

$360M 32.5%

RevenueGM

$51M

Adj. EBITDA

~4.4%

Dividend Yield

(3/17/22)

* Pro-forma excl. impact of Texas Winter Storm Uri, UK, Japan, & GOGAS operations as of 12/31/21. Please see reconciliations in Appendix

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Genie Energy Operating Structure

Genie is a leading retail energy provider (REP) to select deregulated

markets within the US & Scandinavia & provides solar solutions in the US

Genie Energy Ltd.

NYSE:

GNE, GNEPRA

Genie Retail Energy	Genie Retail Energy
(GRE)	International (GREI)

Genie Renewables

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