SPH Notice - Z Energy Limited ("Z")

Disclosure of ceasing to have substantial holding
Section 279, Financial Markets Conduct Act 2013
To NZX Limited
and
To Channel Infrastructure NZ Limited
Date this disclosure made: 25 March 2025
Date last disclosure made: 20 March 2025
Date on which substantial holding ceased: 25 March 2025
Substantial product holder(s) giving disclosure
Ful l name(s): Z Energy Limite d ("Z")
Summary of previous substantial holding
Clas s of quote d votin g products: Ordinary share s in Channel Infrastructure NZ Limite d (NZ X: CHI)
Summary fo r Z
For last disclosure,
(a)total number held in class: 51,960,374
(b)total in class: 410,004,702
(c)total percentage held in class: 12.67%
For current holding after ceasing to have a substantial holding,
(a)total number held in class: 0
(b)total in class: 410,004,702
(c)total percentage held in class: 0%
Details of transactions and events giving rise to relevant event
As disclosed in a previous noticed dated 20 March 2025, on 19 March 2025 Z entered into a letter
agreement (the "Agreement") with Macquarie Securities (NZ) Limited (the "Underwriter") under which
Z appointed the Underwriter to underwrite, sell and manage the disposal of al l of the 51,960,374
ordinary shares in CHI currently held by Z. A copy of the Agreement was attached to Z 's substantial
product holder notice to the NZX and C HI dated 19 March 2025.
Pursuant to the Agreement, all of the 51,960,374 ordinary shares in CHI held by Z were allocated to
investors, at a sale price of $1.84 per ordinary share. Settlement of this sale occurred on 25 March
2025.
For clarity, Z no longer holds any shares in CHI.

Additional information
Address(es) of substantial product holder(s): Z Energy Limited, 3 Queens Wharf, Wellington Central,
6011 Wellington, New Zealand
Contact details:
Name: Sarah Moore
Phone: +6427 463 0379
Email: sarah.moore@z.co.nz
Name of any other person believed to have given, or believed to be required to give, a disclosure under
the Financial Markets Conduct Act 2013 in relation to the financial products to which this disclosure
relates: Macquarie Securities (NZ) Limited

Certification
I, Sarah Moore, Company Secretary, certify that, to the best of my knowledge and belief, the information
contained in this disclosure is correct and that I am duly authorised to make this disclosure by all
persons for whom it is made.