Update on TasNetworks NWTD Stage 1 Project

• Genus awarded contract for Stage 1 of TasNetworks' North West Transmission Developments (NWTD) project in December 2024
• Completed $42 million in works during Early Contractor Involvement (ECI) Phase
• Commenced $80 million in early works, including procurement of long-lead equipment and materials

GenusPlus Group Ltd (ASX: GNP) has provided an update on the progress of the TasNetworks North West Transmission Developments (NWTD) Stage 1 project. In December 2024, Genus was awarded a contract for Stage 1 of the NWTD project. During the Limited Notice to Proceed (LNTP) Phase, Genus has completed certain works required under the Early Contractor Involvement (ECI) Phase, valued at approximately $42 million. This includes engineering, design, and surveys. Additionally, under a series of Early Works Agreements (EWA) valued at approximately $80 million, Genus has commenced the procurement of certain long-lead equipment and material items required for the project, and will commence certain early mobilization activities. The Construction Phase of NWTD Stage 1 is subject to TasNetworks issuing a Notice to Proceed, which is contingent on certain conditions being met, including the receipt of planning and environmental approvals. The Construction Phase is scheduled for completion in 2029.