Completion of retail bookbuild

channelnz.com
NZX RELEASE
12 December 2024

Completion of Retail Bookbuild, concluding the Offer
Channel Infrastructure NZ Limited (Channel Infrastructure) (NZX:CHI) advises that it has
successfully completed the Retail Bookbuild component of its underwritten 1 for 12.12 underwritten
pro rata accelerated renounceable entitlement offer (the Offer) announced on Monday, 25 November
2024. Channel Infrastructure has now successfully completed the Offer, raising total gross proceeds
of ~$50 million.
The net proceeds of the Offer will provide funding for the three new growth contracts secured in 2024.
The Retail Bookbuild of approximately 3.8 million shares was well supported, achieving a clearing
price of $1.80 per share.
The clearing price represents a premium of $0.20 per share over the offer price of $1.60 per share.
Therefore, eligible retail shareholders who did not take up their entitlements in full and ineligible retail
shareholders will receive $0.20 for each entitlement not taken up by them (less any applicable
withholding taxes). This premium is expected to be paid on Friday, 20 December 2024.
Scaling has been applied to institutional and broker bids, and to applications received from eligible
retail shareholders who took up their entitlements in full under the Retail Entitlement Offer, in
accordance with the allocation policy set out in the Offer Document dated 25 November 2024.
Channel Infrastructure Chief Executive Officer Rob Buchanan, said:
“We are extremely pleased with the significant level of shareholder support received across both the
Retail Offer and Institutional Offer. The Offer was structured to provide fairness to shareholders, whilst
also securing funding for Channel Infrastructure’s key growth initiatives. Once again, we thank our
shareholders for the continued confidence they have shown in Channel Infrastructure.”
New shares issued under the Retail Entitlement Offer and the Retail Bookbuild are expected to be
allotted and commence trading on the NZX on Monday, 16 December 2024.

-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

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