2025 ASM Voting Results

NZX RELEASE
23 May 2023

Results of 2025 Annual Shareholder Meeting and comments from
Chair

At the 2025 Annual Shareholders Meeting of Channel Infrastructure NZ Limited held on 23
May 2025 at Ellerslie Event Centre, and online, shareholders were asked to vote on six
resolutions.

As required by NZX Listing Rule 6.1, all voting was conducted by a poll. The voting results
were:

Resolution For % Against % Abstain
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
2025
232,413,732 99.86% 336,909 0.14% 142,922
2. That Ms. Angela Bull, who retires in
accordance with clause 8.8 of the
Constitution, be elected as a Director of
the Company.
232,348,241 99.79% 477,775 0.21% 67,547
3. That Mr. Andrew Holmes, who retires
by rotation in accordance with clause
8.9 of the Constitution, be re-elected as
a Director of the Company.
225,242,869 96.77% 7,519,940 3.23% 130,754
4. That Mr. James Miller, who retires by
rotation in accordance with clause 8.9
of the Constitution, be re-elected as a
Director of the Company.
232,358,747 99.83% 403,276 0.17% 131,540
5. That Ms. Anna Molloy, who retires by
rotation in accordance with clause 8.9
of the Constitution, be re-elected as a
Director of the Company.
232,429,507 99.83% 398,820 0.17% 65,236
6. That Mr. Karl Barkley, who is nominated
as a director by a Shareholder of the
Company in accordance with Listing
Rule 2.3.1, be elected as a Director of
the Company.
2,276,601 0.98% 229,785,474 99.02% 831,488

The vote counting was undertaken and scrutineered by the company’s share registrar,
Computershare.

Commenting on today’s Annual Shareholder Meeting, Channel Infrastructure Board Chair,
James Miller, said: “I want to thank shareholders for their strong support today for the Board
and its strategy of growing the Company while delivering resilient infrastructure solutions to
meet New Zealand’s changing fuel and energy needs, including supporting New Zealand’s
fuel and energy security. Reflecting our commitment to supporting New Zealand’s fuel
security, last year we invested over $55 million in our Marsden Point import terminal
infrastructure. Once again, shareholders overwhelmingly supported the Board and our
focused plans for the future of this Company.

“Channel has had an excellent year of growth in 2024, and the continued execution of our
strategy has allowed us to also deliver a great outcome for our shareholders. Reflecting the
progress we have made in executing on our strategy, we have continued to outperform the
NZX50, and in 2024 we delivered a total shareholder return of 37.4%, outperforming the
NZX50 total shareholder return of 11.4%.

“Channel is now firmly focused on its future, and the vision we have for Marsden Point to
become an energy precinct for New Zealand. With extensive work underway on site already
towards achieving this goal, including increased fuels storage, an expansion to our product
handling set, and investigations into projects that will further boost New Zealand’s energy
resilience, we are excited about the range of opportunities ahead of us. With the
Government indicating its support for this vision, and the possibility of Marsden Point being
designated a Special Economic Zone, we have much to look forward to.”

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

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