2024 Governance Roadshow Presentation

Governance
Roadshow
March 2024

2
•This presentation contains forward looking statements concerning the financial
condition, results and operations of Channel Infrastructure NZ Limited (hereafter referred
to as “CHI”).
•Forward looking statements are subject to the risks and uncertainties associated with
the fuels supply environment, including price and foreign currency fluctuations,
regulatory changes, environmental factors, production results, demand for CHI’s
products or services and other conditions. Forward looking statements are based on
management’s current expectations and assumptions and involve known and unknown
risks and uncertainties that could cause actual results, performance or events to differ
materially from those expressed or implied in these statements.
•Forward looking statements include among other things, statements concerning the
potential exposure of CHI to market risk and statements expressing management’s
expectations, beliefs, estimates, forecasts, projections and assumptions. Forward
looking statements are identified by the use of terms and phrases such as “anticipate”,
“believe”, “could”, “estimate”, “expect”, “goals”, “intend”, “may”, “objectives”, “outlook”,
“plan”, “probably”, “project”, “risks”, “seek”, “should”, “target”, “will” and similar terms and
phrases.
•Readers should not place undue reliance on forward looking statements. Forward
looking statements should be read in conjunction with CHI’s financial statements
released with this presentation. This presentation is for information purposes only and
does not constitute legal, financial, tax, financial product advice or investment advice or a
recommendation to acquire CHI’s securities and has been prepared without taking into
account the objectives, financial situation or needs of individuals. Before making an
investment decision, you should consider the appropriateness of the information having
regard to your own objectives, financial situation and needs and consult an NZX Firm or
solicitor, accountant or other professional adviser if necessary.
•In light of these risks, results could differ materially from those stated, implied or inferred
from the forward-looking statements contained in this announcement. CHI does not
guarantee future performance and past performance information is for illustrative
purposes only. To the maximum extent permitted by law, the directors of CHI, CHI and
any of its related bodies corporate and affiliates, and their officers, partners, employees,
agents, associates and advisers do not make any representation or warranty, express or
implied, as to accuracy, reliability or completeness of the information in this
presentation, or likelihood of fulfilment of any forward-looking statement or any event or
results expressed or implied in any forward-looking statement, and disclaim all
responsibility and liability for these forward-looking statements (including, without
limitation, liability for negligence).
•Except as required by law or regulation (including the NZX Listing Rules), CHI undertakes
no obligation to provide any additional or updated information
whether as a result of new information, future events or results or otherwise.
•Forward looking figures in this presentation are unaudited and may include non-GAAP
financial measures and information. Not all of the financial information (including any
non-GAAP information) will have been prepared in accordance with, nor is it intended to
comply with: (i) the financial or other reporting requirements of any regulatory body; or
(ii) the accounting principles generally accepted in New Zealand or any other jurisdiction
with IFRS. Some figures may be rounded, and so actual calculation of the figures may
differ from the figures in this presentation. Non-GAAP financial information does not
have a standardised meaning prescribed by GAAP and therefore may not be comparable
to similar financial information presented by other entities. Non-GAAP financial
information in this presentation is not audited or reviewed.
•Each forward-looking statement speaks only as of the date of this announcement, 18
March 2024
Important Information

Strong safety
systems and culture
Resilient
infrastructure
Long-term asset
management
Customer focused
People and
capability
development
Future focused
Continuous
Improvement
Adaptive
Repurposing
Marsden Point
Support transition of
aviationto low er
carbon fuels
Marsden Point
Energy Hub
Brow nfield
opportunities at
Marsden Point
Consolidator of
fuels infrastructure
Supply chain
optimisation for our
customers
Reducing
environmental
impacts
Community
engagement and
iw i relations
Just transition
Transparency and
disclosure
Target credit
metrics consistent
w ith a BBB+ shadow
credit rating
Deliver above
WACC returns
Cost management
Stable dividends
OUR VISION
OUR STRATEGIC PRIORITIES
NZ’s Infrastructure
Part ner of Choice
Grow Through Support ing
t he Energy Transit ion
More Sust ainable Fut ure
World-class energy infrastructure company
OUR PURPOS E
Deliv ering resilient infrastructure solutions to meet changing fuel and energy needs
World-Class
Operator
High Performance
Culture
Grow from
the Core
Support Energy
Transition
Good Neighbour,
Good Citizen
Disciplined Capital
Management
Refreshed strategy: helping fuel NZ's future to 2050 and beyond
3

4
Continued growth in total shareholder return
•Transition to import terminal enabled a return to dividends in FY22 and an improved total shareholder return profile
•Total ordinary dividend of 10.5 cps and a special dividend of 1.5 cps declared, representing a total FY23 dividend of 12.0 cents per share and a
dividend yield of 8.3%
[1]
[1] Based on share price as at 31 December 2023 of $1.45 and includes special dividends declared
2.0
7.0
12.0
-
5
10
15
20
FY19FY20FY21FY22FY23
cps
Interim Ordinary Dividend
Final Ordinary Diviend
Special Dividend
6 August 2021:99%ofshareholder votes
cast in favour of converting to an Import
Terminal
Dividends
Total Shareholder Return (CHI versus NZX50)
TSR of 56% since 1 April 2021 compared to
NZX50 of -6%
Note: COVID through
2020 and 2021
30.4
13.9
-0.4
-12.0
2.6
-19.0
-70.7
70.9
59.6
9.2
(80)
(60)
(40)
(20)
-
20
40
60
80
FY19FY20FY21FY22FY23
%
NZX50
CHI

[1] Normalised free cash flow is calculated as net cash flow from continuing operations less maintenance capex (excluding conversioncosts and growth capex).The dividend policy is subject to the Board’s due
consideration of the Company’s medium term asset investment programme; a sustainable financial structure for Channel Infrastructure, recognising the targeted investment grade rating; and the risks from short and
medium term economic and market conditions and estimated financial performance
Capital allocation framework set to deliver returns to shareholders
5

Our Board
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Anna Molloy
Independent Director
Appointed:April 2022
Board Committees:Audit and Finance
(Chair)
James Miller
Board Chair, Independent
Director
Appointed: November 2018.
Chairman from July 2022
Board Committees:Audit and Finance,People
andCulture
Vanessa Stoddart
Independent Director
Appointed: May 2013
Board Committees:People and
Culture (Chair)
Paul Zealand
Independent Director
Appointed: August 2016
Board Committees:Audit and
Finance,Health, Safety, Environment
and Operations (Chair)
4/8
Directors
female
Average
tenure
3.9
years
6/8
Directors
Independent
(2019: 4/7)
Lucy Nation
Non-Independent
Director
Appointed: February 2021
Committees: People
andCulture,Health, Safety,
Environment and Operations
Andrew Brewer
Non-Independent
Director
Appointed: December 2023
Board Committees:Health, Safety,
Environment and Operations
Andrew Holmes
Independent Director
Appointed: April 2022
Board Committees:People
andCulture,Health, Safety,
Environment and Operations
Felicity Underhill
Independent Director
Appointed: March2024
Board Committees: Audit and
Finance
[1]
[1]
Post retirement of Lucy Nation at the 2024 ASM 6 out of 7 directors will be independent

Strong and capable Board with right skillset
•To ensure an effective Board there should be a balance of
independence, skills, knowledge, experience and
perspectives.
•The Board has developed (and keeps under regular review) a
Skills Matrix aligned with the Company Strategy, to ensure
the Board has a diverse mix of skills, knowledge, experience
and perspectives including safe operation of a high hazard
facility,fuel industry experience,energy transition expertise
and financial management.
8

Board structure andpolicies are aligned with operations andrefreshed strategy
•Climate Working Group
established in 2024
responsible for providing
corporate representation of
climate related risks, impacts
and opportunities
•Board periodically reviews
performance with independent
party undertaking evaluation
bi-yearly. Next review due Q4
2024.
The Board
Is responsible for overseeing the performance and operations of the Company
Board Committees
Assist the Board to discharge its responsibilities in relation to:
People and
Culture
Audit and Finance
Committee
Health, Safety,
Environment and
Operations
Oversees remuneration
framework, people and culture
strategies including diversity and
inclusion, community engagement
and human rights
Oversees risk management
framework, internal audit, financial
reporting and the integrity of our
sustainability reporting
Oversees the environmental aspects
of sustainability as well as health,
safety and operational quality
Channel Infrastructure’s Management System
Company policies, operating procedures, including the Risk Management Framework
Management under the leadership of the CEO
Are responsible for delivering the strategic direction and goals approved by the Board
The CEO is responsible for instilling a culture that
aligns with CHI'svalues
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Climate Working
Group
Comprised of senior leaders
and subject matter experts,
responsible for providing a
Corporate representation of
climate-related risks, impacts,
and opportunities to the
Board, by consolidating inputs
from each sub-committee.

Experienced and Proven Management Team
Rob Buchanan
Chief Executive
Jack Stewart
GM Operations
Alexa Preston
Chief Financial Officer
Peter van Cingel
Business Development Manager
Chris Bougen
General Counsel and
Company Secretary
Steve Levell
General Manager –
Independent Petroleum
Laboratories (IPL)
10
11

Remunerationlinked to strategy, performance and shareholder returns
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CEO Remuneration
•CEO is incentivisedto deliver long-term shareholder
value throughahigh portion of pay at risk and an
appropriate weighting of short-and long-term
incentives
•CEO KPIs for short-term incentive arebased 50% on
delivery against Company Scorecard and 50% on
individual Scorecard which is aligned to the refreshed
strategy
Corporate Lead Team Remuneration
•Remunerated with a mix of base salary, benefits, and
short-term performance incentives
•Short-term incentives (at risk portion) based on the
KPIs in the Company Scorecard and individual
performance.FY24 scorecard includes a number of
KPIs aligned to the 2024 measures of delivery aligned
to refreshed strategy
•Individuals proposed to be offeredparticipation inan
LTI scheme in FY2024, which will include TSR-based
metrics.
[1] Share rights equivalent to $500,000 issued to the CEO upon commencement as CEO on 6 March 2023(subject to a 5-year vesting period, unless agreed otherwise by the Board, and to the achievement of aminimum “on
target” performance against annual controllable KPIs during the vesting period as determined and assessed by the Board at the end of that period).The CEO is entitled to be offered anLTI equivalent to 45per cent of base
salary) on the first anniversary of his employment andeach anniversary thereafter, with each tranche having a three-year vesting period and with measures and targets to be agreed with the Board. The Board anticipates
proceeding with an LTI offer to the CEO in FY24, which will include TSR-based metrics.
$-
$300,000
$600,000
$900,000
$1,200,000
FixedOn PlanMaximum
Chief Executive’s remuneration performance pay
Base salary and benefitsShort Term Incentive (35-45%)Long Term Incentive (45%)
[1]
KPI CategoryWeighting
Delivery against the Company Scorecard:KPI’s aligned to the 2024 measures of
delivery aligned to refreshed strategy
50%
Core individual KPI’s: Strong process safety, Safely home every day, Customer
focus,Engaged team, Brownfield opportunities at Marsden point, Reduce
environmentalimpacts, Deliver 2024 plan on budget and time
50%

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Current proposed ASM resolutions
Resolution 1
•That Directors be authorised to fix the fees and expenses of Ernst & Young as auditors to the Company for the financial year ending 31 December 2024
Resolution 2
•ThatVanessa Stoddart, who retires by rotation in accordance with clause 8.9 of the Constitution, be re-elected as a Director of the Company
Resolution 3
•ThatAndrew Brewer, who retires in accordance with clause 8.8 of the Constitution, be elected as a Director of the Company
Resolution 4
•That Felicity Underhill, who retires in accordance with clause 8.8 of the Constitution, be elected as a Director of the Company
Independent Director Appointment Process
Skillset Gap
Analysis
International
search (via
international
recruitment
agency) for
needed skill set
Identification
of skillset gap
with reference
to skills matrix
Interviews with
Nominations
Committee of
the Board
Candidate checks
referees,
independence
assessment, legal
review, background
checks, police checks
Full Board
Interview
Board
appointment
Shareholder
approval
Candidate
Assessment
Review
prepared by
recruitment
agency

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Current directors seeking re-election
Vanessa Stoddart
Independent Director
Appoi nted: May 2013
Board Commi ttees :Peopl e and Cul ture
(Chai r)
Andrew Brewer
Non-Independent Director
Appoi nted: December 2023
Board Commi ttees :Heal th, Safety,
Envi ronment and Operati ons
Felicity Underhill
Independent Director
Appoi nted: March2024
Board Commi ttees : Audi t and Fi nance
•A career in world-class terminal
operations and petroleum operations
leadership
•Depthof knowledge of health and safety
practices and operational excellence
•Previous experience as Chief Operating
Officer of Refining NZ
•International experience in future fuels, in
particular SAF, and was one of the early
movers working on energy transition
challenges and projects across the Asia
Pacific region
•Deep executive experience with Origin and
Fortescue, and governance experience on
theAustralian Hydrogen Council,
Australia’s leading hydrogen industry
association
•Extensive experience in transformation,
legal andgovernance roles, including on
the Health NZ board, Waste Management,
the Financial Markets Authority and the
Ministry of Business, Innovation and
Employment, along withprevious
executive experience at Air New Zealand
and Carter Holt Harvey
•Ms Stoddart has indicated that this will be
her final term on the Channel
Infrastructure Board

More sustainable
future
Protect our environmentTier 1 or 2 process safety incidents
Financial disciplineDeliver 2024 plan and meet EBITDA guidance
Meaningful relationshipsCustomer assessment of Channel performance based on
customer survey against key performance criteria
Grow through
supporting the
energy transition
Net zero Scope 1 & 2 emissionsReduce Scope 1 & Scope 2 emissions
Supply resilienceContract new storage volume
$91 - $95m
50%

lower
[1]
2024 measures of delivery aligned to refreshed strategy
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MEASURE
TARGET
STRATEGIC PILLAR
New Zealand’s
infrastructure
partner of choice
Safely home, every day
Lost Time Injuries
Diverse and engaged team
Lift in employee engagement score
Reliable infrastructure
Pipeline reliability
Zero
+4 percentage points
[1]
>98%
[1] Compared to FY23
+10%
[1]
Zero
+10%
[1]
More sustainable
future

Good progress ontransition and climate change targets
2022 TARGET
KEY ACHIEVEMENTS
PROGRESS TO DATE
Just
Transition
At least 90% of employees seeking new
e mployment find new roles, or have
be en retrained, within 6 months
•Extensive program of workforce transition support over past 2 years
•99% of employees who left the business during the transition being
supported into new job opportunities or retraining
Net Zero
N et Zero Scope 1 and 2
e missions by 2030
•Scope 1 and 2 emissions have reduced from 1,257,173 tCO
2
e in
2019 to 4,037tCO
2
e in 2023 - equivalent to a >99% reduction in
emissions
•Direct emissions are now primarily from electricity consumption
and the use of fuel for vehicles and equipment on site
•New electricity supply contract from 2024 sourced from renewable
generation with Energy Attribute Certificates attached
Customer
Scope 3
emissions
[1]
Our infrastructure is utilised to support the
de carbonisation of the transport sector
and facilitate end user
e missions
[1]
reduction by 2030
•Fortescue study into production of e-SAF in pre-feasibility phase
Complete
Near
Complete
In Progress
[1]In accordance with the GHG Protocol Scope 3 Accounting and Reporting Standard category boundaries, emissions associated with the refined transport fuels that Channel stores and distributes but does not sell to
the end user are not a Channel Scope 3 emission. End user Emissions are emissions (upstream and downstream) that result from the end use consumption (combustion) of transport fuels that Channel distributes via
its owned and operated infrastructure but does not take ownership of and therefore does not sell to the end user.
15

Sustainability Report 2023
•Completed a materiality assessment with insights integrated into
refreshed strategy
•Environmental, Social and Governance (ESG) Framework developed
to assess and measure our performance and aligning activities to
the strategy
-set 2024 targets against each material issue and will report
on our performance.
-a selection of these targets have been incorporated into the
scorecard which will be used to determine short-term
incentive payments
•First year reporting in accordance with Aotearoa New Zealand
Climate Standards. Assessments found:
-Physical risk: Marsden Point site is generally safe from
coastal erosion and inundation risks, with a variety of longer-
term mitigation options available
-Transition risk: Opportunity to grow and diversify, while
contributing to New Zealand's wider decarbonisation efforts
under a range of scenarios
•While looking to deliver resilient infrastructure solutions to meet
New Zealand's changing fuel and energy needs, Channel will
continue to pursue opportunities at Marsden Point which help
support increased resilience for New Zealand's fuel supply chain.
14

New ESG framework to measure performance
World-class energy infrast ructure company
Delivering resilient infrast ruct ure solut ions t o meet changing fuel and energy needs
A more sust ainable fut ure
We are committed to caring for our people, the env ironment and the community in which we operate, focusing on sustainable
practices to improv e environmental, social and governance performance, delivering for all stakeholders.
One Team
I nnovationHonestyCare
ESG PILLAR, OBJECTIVES, AND SDG ALIGNMENT
OUR VISION, PURPOSE AND VALUES
Env ironment
People & CommunityGov ernment & Finance
Protect the env ironment in which we operate
Reduce our carbon footprint and build resilience to climate
change risks
Responsibly contribute to achieving NZ’s decarbonisation goals
Everyone “safely home, everyday”
Be a good neighbour and corporate citizen, including contributing to
regional dev elopment
Partner with local iwi, mana whenua and community in impactful ways
Attract, support, and maintain a diverse workforce and a healthy
working culture
Open and transparent reporting
Disciplined capital management
Support our customers to prov ide a resilient fuel and energy supply
chain for New Zealand
Operate our critical infrastructure safely and reliably
MATERIAL ISSUES
Climate ChangeHealth, safety & wellbeingInfrastructure resilience and security of supply
Land, waste & waterIwi & community partnerships
Equity, div ersity & inclusion
Asset & lifecycle management
Transparency & Financial discipline