New Zealand Professional Investment Services Firm

Forsyth Barr

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

New Zealand Professional Investment Services Firm, Forsyth Barr

Equity Bottom-Up

<ul><li>Good result in line with expectations — positive but more volatile earnings outlook</li><li>Kupe drilling decision not fixed, could trigger sale</li><li>FutureGen strategy strikes challenges — still awaiting solar announcement and Mercury deal less certain</li></ul>

Good result in line with expectations — positive but more volatile earnings outlookKupe drilling decision not fixed, could trigger saleFutureGen strategy strikes challenges — still awaiting solar announcement and Mercury deal less certain

Genesis Energy: Back to Future on Volatility — FY22 Result