Completion of Institutional Component of Equity Raise

channelnz.com
NZX RELEASE
26 November 2024

Channel Infrastructure announces successful completion of Institutional
Entitlement Offer and Institutional Bookbuild
Channel Infrastructure NZ Limited (Channel Infrastructure) (NZX:CHI) advises that it has
successfully completed the Institutional Entitlement Offer component and the Institutional Bookbuild
component (together, the Institutional Offer) of its 1 for 12.12 underwritten pro rata accelerated
renounceable entitlement offer (Offer) announced on Monday, 25 November 2024.
The Institutional Entitlement Offer closed at 6.00pm (NZ time) on Monday, 25 November 2024. The
Institutional Bookbuild opened at 10.00am and closed at 12.00pm (NZ time) on Tuesday, 26
November 2024. Eligible institutional shareholders took up 99.7% of their entitlements and, combined
with clearing the Institutional Bookbuild, have raised gross proceeds of $22.5 million, representing
approximately 14.0 million new shares.
The Institutional Bookbuild of 0.2 million new shares achieved a clearing price of $1.78 per share
representing a premium of $0.18 per share, 11.3% over the offer price. This premium means that
institutional shareholders who were not eligible to participate or did not take up their full entitlements
receive a return of $0.18 per share (net of any applicable withholding tax) on their entitlements.
Channel Infrastructure Chief Executive Officer Rob Buchanan commented:

“We are extremely pleased with the success of the Institutional Offer, and the strong support shown
by existing shareholders with very high take up at 99.7%. The Institutional Bookbuild was also very
successful, clearing at 0.8% above the Theoretical Ex Rights Price of $1.77 per share. The equity
raise will enable funding of our growth initiatives whilst ensuring we remain committed to our capital
management framework. We thank our shareholders for the confidence they have shown in our
Company.”

Channel Infrastructure’s shares are expected to resume normal trading on the NZX today on an ex-
entitlement basis.
New shares issued under the Institutional Offer are expected to be allotted and commence trading on
the NZX on Tuesday, 3 December 2024.
The Offer is underwritten by Forsyth Barr Group Limited.

channelnz.com

Institutional Entitlement Offer and Institutional Bookbuild
Trading halt lifted
Tuesday, 26 November
2024
Settlement of Institutional Entitlement Offer and Institutional Bookbuild,
allotment of new shares under the Institutional Entitlement Offer and the
Institutional Bookbuild and trading commences on the NZX
Tuesday, 3 December
2024
Retail Entitlement Offer and Retail Bookbuild
Record date
5.00pm (NZ time),
Tuesday, 26 November
2024
Retail Entitlement Offer opens
10.00am (NZ time),
Thursday, 28 November
2024
Retail Entitlement Offer closes
5.00pm (NZ time),
Monday, 9 December
2024
Trading halt commences (for Retail Bookbuild)
Wednesday, 11
December 2024
Retail Bookbuild opens
10.00am (NZ time),
Wednesday, 11
December 2024
Retail Bookbuild closes
3.00pm (NZ time),
Wednesday, 11
December 2024
Trading halt lifted
Thursday, 12 December
2024
Settlement of Retail Entitlement Offer and Retail Bookbuild, allotment of
new shares under the Retail Entitlement Offer and the Retail Bookbuild
and trading commences on the NZX
Monday, 16 December
2024

These dates are subject to change and are indicative only. Channel Infrastructure reserves the right
to alter the key dates, subject to applicable laws and the NZX Listing Rules. Channel Infrastructure
reserves the right to withdraw the Offer at any time prior to the issue of the shares under the Offer at
its absolute discretion.
Shareholders are encouraged to read the Offer Document and seek advice from a suitably qualified
professional adviser before investing in new shares. Shareholders who have questions regarding
such an investment should raise those questions with their professional adviser.
If you have any questions about the Offer, please visit the Offer website at
www.shareoffer.co.nz/channel or call the Channel Infrastructure Investor Information Line on 0800
650 034 (toll free within New Zealand) from 8.30am to 5.00pm Monday to Friday (excluding public
holidays).

channelnz.com

-ENDS-

Authorised by:

Chris Bougen
General Counsel and Company Secretary

Contact details:

Investor Relations contact:
Anna Bonney
investorrelations@channelnz.com

Media contact:
Laura Malcolm
communications@channelnz.com

About Channel Infrastructure NZ
Channel Infrastructure is New Zealand’s largest fuel import terminal, storing and distributing 40% of
New Zealand’s transport fuel, including 80% of New Zealand’s jet fuel. We receive, store, test and
distribute petrol, diesel, and jet fuel that our customers import and supply to Auckland and Northland.

Fuel is imported via our deep-water harbour and jetty infrastructure at Marsden Point and stored in
more than 290 million litres of contracted storage tanks on site. The fuel is then distributed via our
170-kilometre pipeline to Auckland, or by our customers (bp, Mobil, and Z Energy) via truck into
Northland. We underpin the resilience of New Zealand’s fuel supply chain with our tank capacity,
which enables increased storage of fuel in New Zealand, and through efficient, low-emission
distribution of the fuel into the Auckland market. Given our proximity to Auckland, and critical role in
the jet fuel supply chain, Channel is well positioned to support the renewable fuel transition in New
Zealand.

Our plan for growth includes supporting fuel resilience for New Zealand through additional fuel
storage on our site, unlocking the strategic value of the Marsden Point Energy Precinct Concept
which reflects the significant role Channel could play in supporting New Zealand’s energy transition –
through potential opportunities including supporting the manufacture of lower-carbon future fuels, as
well as a range of potential energy security opportunities, and exploring expansion beyond Marsden
Point through the acquisition of other terminals infrastructure in New Zealand.

Channel Infrastructure’s wholly-owned subsidiary, Independent Petroleum Laboratory Limited,
provides fuel quality testing services throughout New Zealand.

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