CRP Signs Memo of Understanding with Logistics Provider

NEWS RELEASE 22- 23 November 28, 2022



CHATHAM ROCK PHOSPHATE SIGNS MEMORANDUM OF
UNDERSTANDING WITH LOGISTICS PROVIDER AURIZON

WELLINGTON, New Zealand – Chatham Rock Phosphate Limited (TSXV: “NZP” and NZX: “Chatham”,
“CRP”, or the “Company") is pleased to announce that it has signed an MOU with transport group
Aurizon Limited to provide logistical solutions for the development of its Korella phosphate
operations.

Under the Memorandum of Understanding, Aurizon and CRP’s wholly-owned Australian subsidiary,
Avenir Makatea Pty Ltd., trading as Korella Fertilizers (Korella) have agreed to establish a framework
for discussing logistical solutions and associated infrastructure investments which Aurizon could
provide to support Korella getting its product to market.

Under the MoU, Korella and Aurizon will participate in exclusive discussions for the full pit-to-port
logistics solution, including road, rail and shiploading of phosphate rock from Korella North, Korella
Central and Korella South (Mines) near Phosphate Hill to Korella’s proposed Round Oak Round
Distribution Hub in Cloncurry and onward to the Port of Townsville. This would include provision by
Aurizon of terminal and storage services at Korella North, Round Oak Round Distribution Hub
Cloncurry, Cloncurry Container terminals, Stuart and Aurizon Port Services terminals at the Port of
Townsville.

Earlier this year CRP, through Korella Fertilizers, commenced discussing with Aurizon the provision of
logistics services at a Korella transport hub to be established in Cloncurry. These discussions
progressed to finalizing a lease on a 22ha site owned by Aurizon on Round Oak Road, Cloncurry that
is close to the existing Aurizon Cloncurry Container Terminal.

Subsequently discussions broadened to encompass the complete transport task for Korella Fertilizer’s
phosphate and this led to the establishment of the MoU.

Under the MoU, this will include current planning for a rail loading facility to be built at Korella North
for bulk loading of 2Mtpa of phosphate from Korella North, Korella Central and Korella South and the
establishment of a 5Mtpa bulk phosphate ship loading facility in the Port of Townsville.

With Aurizon’s newly opened Aurizon Port Services facility in the Port of Townsville, the potential for
earlier bulk shipments of Korella phosphate as trial cargoes can also be considered.

Aurizon is the major transport and logistics provider to companies operating in Queensland’s North
West Mineral Province with existing contracts that include:

• Transport on rail of sulphuric acid in tankers from Mt Isa to Phosphate Hill

• Transport on rail of sulphuric acid in tankers from Townsville to Phosphate Hill

• Transport on rail of elemental sulphur in containers from Townsville to Mt Isa.

• Transport on rail of lead/zinc concentrate from Cloncurry Container Terminal to Townsville

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• Transport of cement from Townsville to Cloncurry Container Terminal

• Transport of phosphate concentrate from near Dajarra (150km south of Mt Isa) to Mt Isa by
road and then 1000km by rail from Mt Isa to Townsville.

CRP looks forward to progressing Korella Fertilizers, by matching mine development with efficient and
flexible transport and logistic solutions.

About Korella Fertilizers

Korella Fertilizers is a Cloncurry, NW Queensland based operation for international phosphate
company Chatham Rock Phosphate Limited.

With its Korella phosphate sourced south of Cloncurry at Phosphate Hill, Korella Fertilizers is
establishing a distribution hub and a MCP manufacturing plant in Cloncurry to service its rural
customer base, especially those in northern Australia.

In parallel the company is working on plans for a 2Mtpa bulk phosphate rail loading facility at Korella
North, Phosphate Hill and a 5Mtpa ship-loader in the Port of Townsville.

For further information please contact:

Chris Castle
President and Chief Executive Officer
Chatham Rock Phosphate Limited
64 21 55 81 85 or chris@crpl.co.nz


Neither the Exchange, its Regulation Service Provider (as that term is defined under the policies of the Exchange),
or NZX Limited has in any way passed upon the merits of the Transaction and associated transactions, and has
neither approved nor disapproved of the contents of this press release.