March 2015 Investor Roadshow Genex Power (ASX:GNX) presented their latest investment updates to over 300 people in Melbourne and Sydney. Managing Director Michael Addison gives an overview of their current position and opportunities. For more information go to http://www.genexpower.com.au For more information about Symposium’s Investor Roadshows, visit http://symposium.net.au/InvestorRoadshow/

1. STRICTLY
CONFIDENTIAL
March
2015
Investor
Presenta,on

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DISCLAIMER
2
STRICTLY
CONFIDENTIAL

3. Company
Summary
Key
Project
Pumped
Storage
Hydro
Electricity
Project
Project
Loca,on
North
Queensland
IPO
TargeIng
May
2015
Shareholders
~140
Project
Summary*
Genera,on
Capacity
330MW
First
Genera,on
2018
Capital
Cost
(before
con,ngency)
$282
million
Revenue
$84
million
EBITDA
$56
million
INTRODUCTION
*Based
on
past
12
months
electricity
prices
to
9
March
2015,
past
performance
not
indicaEve
of
future
performance
3

4. 4
KIDSTON
SITE
LOCATION
Georgetown

5. Typical
Pumped
Storage
Plant
Arrangement
§ Pumped
storage
requires
two
reservoirs
in
close
proximity
of
each
other
§ During
peak
power
demand,
water
is
released
from
upper
reservoir
to
lower
reservoir
to
generate
electricity
§ During
off-­‐peak
hours,
power
is
drawn
from
the
grid
to
pump
water
back
up
to
the
upper
reservoir
Pumped
Hydro
makes
a
return
by:
§ Selling
electricity
by
generaIng
during
high
priced
peak
periods
§ Buying
electricity
by
pumping
during
low
priced
off-­‐peak
periods
PUMPED
STORAGE
POWER
GENERATION
5

7. 0am
6am
12pm
6pm
Lower
Reservoir
PUMPED
STORAGE
7
0am
6am
12pm
6pm

8. Wivenhoe
PSP
Scheme,
Queensland
Australia
Tumut
3,
Snowy
Hydro
Scheme,
NSW
Australia
Shoalhaven
Scheme,
NSW
Australia
§ Pumped
Storage
is
an
established
technology
since
1890s
§ Hundreds
of
installed
schemes
around
the
world
§ Three
pumped
storage
schemes
in
Australia
1. Tumut
3
–
1,200MW
2. Wivenhoe
–
500MW
3. Shoalhaven
–
240MW
PUMPED
STORAGE
8

9. BASELOAD
POWER
GENERATION
(Coal,
Gas,
Wind,
Solar,
Hydro)
Time
of
Day
(hrs)
Peaking
power
genera,on
can
only
be
supplied
by
Open
Cycle
Gas
Turbines
Diesel
Generators
Pumped
Hydro
PEAK
PEAK
ELECTRICITY
GENERATION
OFF-­‐PEAK
OFF-­‐PEAK
9

10. 5000
5500
6000
6500
7000
7500
8000
8500
0
50
100
150
200
250
300
12:30:00
AM
5:30:00
AM
10:30:00
AM
3:30:00
PM
8:30:00
PM
1:30:00
AM
6:30:00
AM
11:30:00
AM
4:30:00
PM
9:30:00
PM
Price
Demand
ELECTRICITY
GENERATION
10
$/MWh
Demand
(MW)

11. 0
50
100
150
200
250
300
12:00:00
AM
12:30:00
PM
1:00:00
AM
1:30:00
PM
2:00:00
AM
2:30:00
PM
QLD
NSW
SA
QLD
TAS
WHOLESALE
ELECTRICITY
PRICES
Average
Daily
Electricity
Prices
by
State
(6
March
2015
–
8
March
2015)
11
$/MWh

12. The
Kidston
Site
§ Two
large
adjacent
pits
‒ 52ha
and
54ha
respecEvely
‒ Lower
Reservoir
270m
deep
‒ Approximately
400m
apart
at
surface
§ Site
rehabilitated
since
mine
closure
in
2001
§ Water
license
in
place
for
top
up
water
§ Site
100%
owned
by
Genex
Power
KIDSTON
PROJECT
12

13. KIDSTON
PROJECT
Tangible
Assets
Intangible
Assets
Fixed
Assets
Licenses
and
Permits
Data
and
Informa,on
ü ExisIng
Reservoirs
ü Term
lease
in
place
for
land
over
Kidston
Mine
Site
ü Water
Quality
ü Onsite
building
materials
and
infrastructure
ü Council
supporIve
of
Development
of
Approval
ü Rainfall/Runoff
ü ExisIng
132kV
transmission
ü Pastoral
Lease
exInguished
ü Geological/Historical
Drilling
ü SubstaIon
on
site
ü NaIve
Itle
exInguished
ü Surveys
and
mapping
ü In-­‐situ
water
in
pit
ü Environmental
Approval
(EA)
in
place
ü Hydrology
ü Copperfield
Dam
(Top
up)
ü Water
license
in
place
with
allocaIon
of
4,500ML
p.a.
ü Water
Pipeline
from
Copperfield
Dam
for
top
up
if
necessary
fully
operaIonal
13

14. 418.29
MW
402.93
MW
366.67
MW
366.67
MW
330.00
MW
318.77
MW
Water
pumped
to
upper
reservoir
NEM
Pump
NEM
Turbine
Water
released
from
upper
reservoir
KIDSTON
SCHEME
EFFICIENCIES
14

15. KIDSTON
OPERATING
PROGRAM
15
Key
Risks
Counter
Party
Risk
ü State
and
Local
government
only
ü Local
Council
Support
ü No
Landholders
over
project
site
Environmental
Risk
ü Environmental
Approval
already
in
place
ü Site
is
already
disturbed
due
to
previous
mining
CAPEX
Risk
ü Third
Party
cost
esImates
used
in
Pre-­‐Feasibility
Water
Shortage
ü Closed
loop
system
ü Top
up
water
supply
available
from
nearby
dam
ü Project
located
in
tropical
North
Queensland

16. PROJECT
ECONOMICS
16
CAPEX
Items*
A$M
Civil
Works
80
Equipment
87
Transmission
115
Total
es,mated
capital
cost
282
Back
Test
Results*
A$M
Total
GeneraIon
Revenue
A$84
Total
Pumping
Cost
A$24
O&M
A$4
EBITDA
A$56
*Based
on
past
12
months
electricity
prices
to
9
March
2015,
past
performance
not
indicaEve
of
future
performance
*Based
on
Pre-­‐Feasibility
cost
esEmates
provided
by
Third
ParEes
Project
Financing
Op,ons
§ Transmission
Line
–
Third
Party
Build
Own
Operate
(BOO)
§ Electrical
&
Mechanical
Equipment
–
Equipment
Financing
§ TradiIonal
Project
Finance
§ Power
Purchase
Agreements
(PPAs)

17. BOARD
&
MANAGEMENT
Dr
Ralph
Craven
Non-­‐ExecuIve
Chairman
§ Director
of
Senex,
SP
AusNet,
Invion
§ Former
CEO
and
Chairman
of
Ergon
Energy
§ Former
CEO
of
Transpower
New
Zealand
Michael
Addison
Managing
Director
§ Founder
of
EndoCoal
and
Carabella
§ Water
engineer
with
extensive
finance
experience
Alan
du
Mée
Non-­‐ExecuIve
Director
§ Former
CEO
of
Tarong
Energy
§ Former
Chairman
of
the
Australian
NaIonal
Generators
AssociaIon
17
Simon
Kidston
ExecuIve
Director
§ Founder
of
EndoCoal
and
Carabella
§ Former
banker
with
HSBC,
Macquarie,
Helmsec
Ben
Guo
CFO
§ 10
years
experience
with
PWC,
E&Y
and
more
recently
with
Carabella
and
Estrella
Resources
Jus,n
Clyne
Company
Secretary
&
Legal
Counsel
§ Extensive
company
secretary
experience

18. GENEX
IPO
§ ASX
LisIng
targeted
for
May
2015
§ Morgans
Stockbroking
acIng
as
Lead
Manager
§ IPO
Raising
of
$8m
to
12m
18