First day of trading as Channel Infrastructure

channelnz.com


NZX RELEASE

1 April 2022

First day of trading as Channel Infrastructure

Channel Infrastructure, the Marsden Point fuel import terminal, has today officially launched, with trading on the
NZX opening in the renamed company under the new ticker CHI this morning.

This follows completion of the safe shutdown of refining operations at Marsden Point over the last two weeks. The
long-term Terminal Services Agreements with customers bp, Mobil and Z Energy have commenced today and the
first import shipment is expected to discharge at Marsden Point in the coming days.

CEO Naomi James said:
“This is a significant milestone for the Company. After 60-years of operations as New Zealand’s only oil refinery,
we look back on our past with pride, and because of this change, we can now also look to the future with
confidence that we have a sustainable business that will continue to contribute to our community, and New
Zealand, long into the future.”

“I want to acknowledge the dedication and commitment of our workforce over the last two years, and in the past
few weeks as we completed the safe shutdown of the refinery, while ensuring that we have continued to safely and
reliably keep New Zealand supplied with its fuel needs.”

“The transition to Channel Infrastructure with its ownership of critical infrastructure and long-term contracts
represents a fundamental reset in our business providing stable earnings and returns for our shareholders.”

“Channel Infrastructure is New Zealand’s leading fuel infrastructure company, and we have strong aspirations for
growth. We are well positioned to support New Zealand’s changing future fuel needs, with further growth
opportunities for repurposing of the Marsden Point site available to us.”

Next week, the Company will release its first Sustainably Report, which will outline further detail about how
Channel Infrastructure will contribute to New Zealand’s energy transition in the years ahead.


ENDS

Authorised by:
Chris Bougen
General Counsel and Company Secretary

channelnz.com
Media contact
Laura Malcolm
communications@channelnz.com
+64 21 02363 297


About Channel Infrastructure NZ

Channel Infrastructure is New Zealand’s leading fuel infrastructure company.

Channel Infrastructure owns critical infrastructure, supplying the Northland and Auckland markets, which make up
40% of New Zealand’s fuel demand and all of the jet fuel to the Auckland International Airport. Utilising the deep-
water harbour and jetty infrastructure at Marsden Point, as well as 280 million litres of storage tanks, and the 170-
kilometre pipeline from Marsden Point to Auckland we import, store, test and distribute fuel owned by our
customers. Channel Infrastructure’s wholly-owned subsidiary, Independent Petroleum Laboratories, provides
quality fuel testing services at Marsden Point and around New Zealand.

Channel Infrastructure is well positioned to support New Zealand’s changing future fuel needs, with growth
opportunities at the Marsden Point site including additional fuel storage to support fuel security, renewable
electricity supply through the Maranga Ra solar project and work underway with customers and partners on biofuel
and hydrogen opportunities.

For more information on Channel Infrastructure, please visit: www.channelnz.com