Q4 2024 Operational Update

Channel Infrastructure NZ Limited (NZX:CHI) has today released its operational update for the three months ended 31 December 2024. OPERATIONAL HIGHLIGHTS Throughput • Throughput for the quarter ended 31 December was slightly ahead of the Envisory fuel demand outlook by 10 million litres (909 million litres), and 1% above Q4 2023 (900 million litres). • Overall FY24 throughput was 95% of 2019 throughput and 3% above FY23 throughput. • 15 import shipments were received and discharged during the quarter (Q4 2023: 14). • 61 shipments were received and discharged throughout 2024 (2023: 70) reflecting an increase in larger Long-Range vessels being received at Marsden Point. Channel’s deep-draught jetties and large onshore fuel storage capacity enable customers to optimise their supply chain via larger import parcels. • Despite the current economic environment and jet aircraft availability issues, actual jet fuel throughput for Q4 was 3% higher than Q4 2023 and 6% above the Envisory fuel outlook. Year-on-year jet fuel throughput was up 12%. • Both diesel (up 2%) and petrol (down 3%) remain relatively stable quarter on quarter and aligned to the Envisory fuel demand outlook. 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 • Conversion spend is $186 million to 31 December 2024 (30 September 2024: $184 million) and remains within budget. Bund upgrades will continue until 2027. • Private storage growth capex of $49 million spent to 31 December 2024 (30 September 2024: $46 million). • Infrastructure upgrades associated with the transmix customer storage contract, announced 1 May 2024, are now complete with transmix product stored at Marsden Point from December. This project was delivered safely, within budget and to schedule. • Net borrowings reduced to $296 million as at 31 December 2024 (30 September 2024: $342 million) following a successful $50 million equity raise. Net proceeds from the raise will provide funding for the three new growth contracts secured in 2024 – Transmix, Z Energy jet storage and Bitumen. - 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