Genie Energy Ltd. · NYSE:GNE
Genie Energy — Q2 2026 Earnings Presentation
25 slides from Genie Energy's earnings presentation, October 2026
Slide 1: Genie Energy Ltd Investor Presentation Second quarter 2026
Genie Energy Ltd (NYSE: GNE) Investor Presentation Second quarter 2026
Slide 2: Safe Harbor Statement
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.
Slide 3: At a Glance
At a Glance Genie Energy Ltd. Genie Renewables (GREW) Genie Retail Energy (GRE) ● Diversegy: Energy advisory services for An independent commercial clients ● Genie Solar: Operator of utility scale solar retail energy provider assets ● Roded and other early-stage business initiatives Genie Energy | I
Slide 4: Financial Overview
Financial Overview $503 M $7 M GNE Share Revenue Repurchases $432 M $25 M Adj. EBITDA Market Cap Market cap and Dividend Yield as of 10/1/2026 $204 M Cash, cash equivalents, ~1.8% restricted cash & Dividend Yield current investments Cash, cash equivalents, restricted cash and current investments as
Slide 5: Investment Thesis
Investment Thesis Genie Energy: Exceptional returns through diverse commodity & economic market environments backed by unlevered balance sheet with ample liquidity Genie Retail Energy (GRE): A durable, asset-light, cash generation engine with demonstrated upside potential from favorable market condi
Slide 6: Genie Retail Energy (GRE)
GENIE RETAIL ENERGY (GRE) A leading independent retail energy provider supplying electricity and natural gas to residential and SMB customers in deregulated markets across the USA Genie Energy | Investor Presentation 6
Slide 7: GRE - US Market Opportunity & Dynamics
GRE - US Market Opportunity & Dynamics 28 Deregulated Markets (Competition-based regulatory frameworks for power & gas 19 States served + D.C. Competition Incumbent utility & other REPs Role of Utilities Distribution & billing (most markets) Genie Energy | Investor Presentation 7
Slide 8: GRE - Value Creation
GRE - Value Creation Customer Acquisition Model Risk Management Customer Retention Multiple sales channels to residential & Hedging strategies reduce Superior customer service. small commercial. commodity volatility risk. Customer rewards program. Diverse portfolio of products Utilities assume bad d
Slide 9: GRE - Recent Results
363 K Meters Served 345 K RCEs Served GRE - Recent Results Snapshot Meters and RCEs Served as of 6/30/2026 RCE growth is change in RCEs at 6/30/26 compared to 6/30/2025 $476 M Revenue GRE +108% Increase in income Financial results for the twelve months ended 6/30/2026 from operations 2Q26/2Q25 $38 M
Slide 10: GRE – Portfolio Risk Management Provides Upside Optionality
GRE – Portfolio Risk Management Provides Upside Optionality ● GRE increased long positions heading into the 2021-2022 Winter months CASE STUDY ● Commodity prices experienced significant volatility ● GRE restrained demand by pausing new customer Genie Portfolio acquisitions and certain renewals unloc
Slide 11: Genie Renewables (GREW)
GENIE RENEWABLES (GREW) Portfolio of businesses providing growing cash-flows and exciting upside potential Genie Energy | Investor Presentation 11
Slide 12: GREW Cash Flow Generating Businesses
GREW Cash Flow Generating Businesses Diversegy Currently generating Adjusted Energy procurement advisory service serving EBITDA at approximately $5 industrial, commercial and municipal million annual run rate with customers in deregulated markets growth potential. Steady cash flows underwrite Genie
Slide 13: Diversegy
Offerings: Diversegy Income From Operations Diversegy serves as an energy advisor for $1.6 clients and operates a broker exchange platform $1.4 Scalable GTM Channels: $1.2 Digital – Supports direct internal sales and $1.0 partner recruitment $0.8 Partners - Brokers, sales teams and agents $0.6 Adjus
Slide 14: Genie Solar
Genie Solar Portfolio composition: Operates a portfolio of ● 19 MW of generating arrays long-lived solar o 10 MW Schools Portfolio generation assets for o 9 MW of New York Community Solar ● Minimal additional investment in new steady, predictable capacity planned cash generation. Long Term Adjusted
Slide 15: GREW Investment Stage Initiatives | Plastics Manufacturing
GREW Investment Stage Initiatives | Plastics Manufacturing Genie is leveraging proprietary plastic recycling technologies to manufacture plastic solutions with an initial focus on the $70B+ global pallet market ● PALLET MARKET ○ Plastic pallet market projected to grow at a 10%+ CAGR to $15.7B in 203
Slide 16: GREW Investment Stage Initiatives | Plastics, continued
GREW Investment Stage Initiatives | Plastics, continued Genie's approach confers significant advantages as production scales ● ECONOMICS ○ Significant cost advantage vs conventional wood and virgin plastic offerings ○ Plastic Credits certified by Verra under the VCS Program ● ROADMAP ○ Proof of conc
Slide 17: Recent GREW Results | Snapshot
Recent GREW Results | Snapshot $17 M Diversegy Revenue $27 M 19 MW Solar Projects GREW Revenue Portfolio $(8) M GREW income from $5 M Genie Solar Revenue operations Financial results are for the twelve months ended $(6.1) M GREW Adjusted EBITDA 6/30/2026 Genie Energy | Investor Presentation 17
Slide 18: Financial Summary
Financial Summary Genie Energy | Investor Presentation 18
Slide 19: Genie Financials
Genie Financials Genie Consolidated $ (000's) 2022 2023 2024 2025 TTM Revenue GRE $303,970 $409,880 $403,340 $478,450 $475,880 GREW 11,570 18,830 21,860 23,520 26,750 Total Revenue $315,540 $428,710 $425,200 $501,970 $502,630 COGS GRE $150,990 $266,520 $271,190 $359,910 $355,160 GREW 9,770 15,980 15
Slide 20: Capital Allocation
Capital Allocation Leverage strong B/S for: ● Customer acquisition ● Investment in early-stage ● New markets Internal Corporate Reinvestment Development initiatives ● New products ● Select M&A Share ● Common stock ● Common Stock Dividend repurchases dividend (currently $0.075/quarter) Genie Energy |
Slide 21: Genie Energy Summary
Genie Energy Summary Proven cash generation from GRE through diverse commodity & economic market environments with strong upside potential Core GRE FCF generation with emerging growth optionality at GREW Portfolio management drives enhanced FCF for growth investment & shareholder value creation stra
Slide 22: Thank you!
Thank you! Michael Stein Avi Goldin Chief Executive Officer Chief Financial Officer IR Contact Avi Goldin agoldin@genie.com
Slide 23: Appendix
Appendix Genie Energy | Investor Presentation 23
Slide 24: Reconciliation Tables
Reconciliation Tables Genie Energy (NYSE: GNE) GNE Genie Retail Energy GRE Genie Renewables GREW Page 3 TTM Page 9 TTM Page 17 TTM (in thousands) (in thousands) (in thousands) EBITDA $25,456 EBITDA $39,714 EBITDA ($6,139) Subtract (add): Subtract (add): Subtract (add): Depreciation and amortization
Slide 25: Reconciliation Tables
Reconciliation Tables Genie Consolidated Page 25 (in thousands) 2022 2023 2024 2025 TTM Adjusted EBITDA $83,156 $58,217 $48,463 $32,569 $25,456 Subtract (add): Depreciation and amortization 385 443 884 1,005 1,239 Impairment 2,065 19 185 1,642 1,607 Other Losses (Gains) (17) (126) 145 (330) (298) St