CHI presentation to JMI Wealth

JMI Wealth CEO
Showcase
June 2024

Important Information
•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, 5
June 2024
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Providing resilient infrastructure needed to support the energy transition

Long-term business underpinned by jet fuel demand, inflation linked revenues
40ML
Tank capacity
available for
conversion
-
20.0
40.0
60.0
80.0
100.0
120.0
140.0
Annual Revenue ($M)
Contracted revenue outlook assuming Envisoryfuel demand
outlook -(2023 terms
[1]
excluding PPI Indexation)
Terminal revenue - fixedTerminal revenue - variable
Private / additional storage revenueWiri lease
ToP threshold
•10-year customer contracts with two five year rights of renewal
•All fees subject to Producer’s Price Index (PPI)indexationwhich provides
protection in aninflationary environment
[1] Allrevenue is in 2023 terms and does not include any price indexation. Outlook uses Envisorybase case assumptions and subject to
change based on Envisoryfuel demand outlook
•Throughputs of 921 million litresin Q1 2024, continued to track above the
Envisoryfuel demand outlook
•Jet throughput 13% above the Envisoryforecast in Q1 2024
5
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
202120222023202420252026202720282029203020312032203320342035203620372038203920402041204220432044204520462047204820492050
HistoricalOutlook
Marsden Point Throughput (Million Litres)
Envisory - JetEnvisory - diesel, incl. biofuels
Envisory - PetrolIndicative renewables portion

Capital allocation framework
to deliver to shareholders
All metrics are as at 31 December 2023, unless otherwise stated
[1] Normalisedfree cash flow is calculated asnet cash flow from continuing operations less maintenance capex (excluding conversioncosts andgrowth capex).The dividend policy is subject to the Board’sdue consideration of the
Company’s medium term asset investmentprogramme; a sustainable financial structure for Channel Infrastructure,recognisingthe targeted investment grade rating; andthe risks from short and medium term economic and market
conditions and estimated financial performance
[2] Based on the 30 May 2024 share price of $1.57 and includes special dividend declared
Strong cashflow and balance sheet
Stable and predictable earnings
Stay-in-business
capital expenditure
8%
of revenue
$92-$96m
FY24 EBITDA
guidance
EBITDA
Margin
67%
Leverage[3]
3.6x
EBITDA
Targetingcredit metrics
consistent with a
shadow credit rating
BBB+
EBITDA to FCF
Conversion
71%
Free Cash
Flow yield [1]
11.3%
Total FY23
Dividend
12
cents per share
Stable Ordinary
Dividend Yield [2]
c.7.6%
Stable and predictable infrastructure returns
Dividend policy
30-40%
NormalisedFCF available
for deleveraging
or growth
Investment criteria
Above WACC
returns
Contracted
Revenue
91%
Revenue
indexed
to PPI
6

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 lower
carbon fuels
Marsden Point Energy
Hub
Brownfield
opportunities at
Marsden Point
Consolidator of fuels
infrastructure
Supply chain
optimisation for our
customers
Reducing
environmental
impacts
Community
engagement and iwi
relations
Just transition
Transparency and
disclosure
Target credit metrics
consistent with a
BBB+ shadow credit
rating
Deliver above WACC
returns
Cost management
Stable dividends
OUR VISION
OUR STRATEGIC PRIORITIES
NZ’s Infrastructure
Partner of Choice
Grow Through Supporting
the Energy Transition
MoreSustainable Future
World-class energy infrastructure company
OUR PURPOSE
Delivering 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
Helping fuel NZ's future to 2050 and beyond
7

400ML
Tank capacity
available for
conversion
120ha
Available land
for repurposing
Growth opportunities
Near term growth at Marsden Point
Submitted response to support the Government’s
Onshore Diesel Storage tender
Will look to support customers create supply chain
efficiencies and progress towards meeting minimum
stock level obligations
SUPPORTING FUEL RESILIENCE
Repurposing of surplus land
Master plan for the site being developed to assess
highest value and best use of land
Potential Sustainable Aviation Fuel project could utilise
some available land
FUTURE FUELS
Growth Outside Marsden Point
Fuel markets undergoing transition
Demonstrating world-class operations is key to positioning
for these opportunities
Potential opportunities as assets are consolidated
ACQUISITION OF OTHER INFRASTRUCTURE
Focused on opportunities with above WACC returns and customer contracts that provide revenue certainty

Our Investment Proposition
Ownershipof critical infrastructure
Long-termcustomer contracts
Stable inflation linked earnings andcash flows with strong balance sheet
11.3% Free Cash Flow yield; 7.6% Dividend Yield
Transition Asset -Supporting New Zealand’s decarbonisation
Focused Growth opportunities
9