Q2 2024 Operational Update

Channel Infrastructure NZ Limited (NZX:CHI) has today released its operational update for the three months ended 30 June 2024. OPERATIONAL HIGHLIGHTS Throughput o Throughput for the quarter ended 30 June continued to track above the Envisory fuel demand outlook at c.840 million litres, c.2% higher than Q2 2023 (821 million litres) and down 81 million litres on the previous quarter in line with seasonality expectations (921 million litres). Throughput is now tracking at 97% of 2019 throughput (on a year-to-date basis). o Actual jet fuel throughput for Q2 was 9% above the Envisory fuel outlook. o 16 import shipments were received and discharged during the quarter (Q2 2023: 18). o No material fuel supply disruption was experienced during the recent power outage to Northland following a transmission tower failure. A summary of Quarterly throughput by fuel type since commencement of import terminal operations on 1 April 2022 is included as Appendix I. Conversion and growth project update o Conversion spend c.$181 million spent to 30 June 2024 (31 March 2024: $169 million). o Private storage growth capex of c$42.5 million spent to 30 June 2024 (31 March 2024: $38.6 million). o New customer contract signed May 2024 for the storage and export of transmix. The upgrade will involve incremental growth capital expenditure across 2024 of $12-15 million in FY24 and is expected to generate incremental revenue of approximately $3 million per annum, indexed to PPI. o Net borrowings decreased to $326 million as at 30 June 2024 (31 March 2024: $333 million). - ENDS - Authorised by: Chris Bougen General Counsel and Company Secretary Investor Relations contact: Anna Bonney investorrelations@channelnz.com Media contact: Laura Malcolm communications@channelnz.com End CA:00434458 For:CHI Type:GENERAL Time:2024-07-15 08:30:24