Presentation to E&P’s 11th Annual SMID Caps Conference

1
E&P’s 11
th
Annual
SMID Caps
Conference
NZX: CHI | ASX: CHI
October 2026

2
World-class operator with strong safety track record
Ownership of critical infrastructure in New Zealand and Australia
Long-term customer contracts, >50%
1
of contracted revenue is fixed / capacity based and independent of fuel volumes
Stable inflation-linked revenues underpinned by long term contracts, strong cash flows and balance sheet
Stable and growing dividend paying 70-90% of Normalised Free Cash Flow
Infrastructure resilient through transition to liquid renewable fuels
Proven execution with capital intensive projects delivered safely, on budget, and on time that have significantly grown
earnings and diversifiedcustomer base
Significant opportunity for selective and disciplined growth including additional storage, delivery of the Marsden Point
Energy Precinct and acquisitions in New Zealand and Australia
Investment Proposition
1. Excluding revenue from Government diesel storage contract announced 20 April 2026

3
3
Geographic Location
Marsden Point has direct
access to the Auckland
market via Channel’s 170km
pipeline. The next nearest
alternate Auckland fuel
supply import terminal is
located at Port of Tauranga,
195km from Auckland by
road.
The fuels pipeline from Marsden
Point is the lowest-emission
supply route for transport to
Auckland, and does not
contribute to traffic congestion.
There is no pipeline between Port
of Tauranga and Auckland.

4
Ownership of Critical Infrastructure in New Zealand and Australia
>290
>410
25%
share of Somerton Pipeline to
Melbourne Airport
>350

5
Key Financial Metrics – Continuing Operations
Revenue
Set to grow with new contracted revenue in
FY27-28
Normalised Free Cash Flow
1
EBITDA (Margin %)
FY26 expected to be $103-$108 million
Dividends
Stable and growing
Growth Capex
Above WACC returns and contracted revenue
Free Cash Flow Conversion
Disciplined financial management
1. Net cash generated fromcontinuing operations less financing, maintenance capex, excluding conversion costs, site redevelopment costs and growth capex (including acquisitions)
$88.2m
$130.7m
$139.8m $140.2m
$72.9m
FY22FY23FY24FY25HY26
Underlying RevenueLegacy Wiri lease
$57.4m
$87.2m
$95.1m
$93.4m
$48.8m
FY22FY23FY24FY25HY26
Underlying EBITDALegacy Wiri lease
(65%)
(67%)
(68%)
(67%)
(67%)
$35.5m
$61.8m
$63.4m
$66.9m
$33.6m
FY22FY23FY24FY25HY26
62%
71%
67%
72%
69%
FY22FY23FY24FY25HY26
$15.8m
$30.6m
$29.3m
$27.1m
$25.1m
FY22FY23FY24FY25HY26
2.00cps
1.50cps
7.00cps
12.00cps
11.00cps
13.00cps
7.25cps
FY22FY23FY24FY25HY26
OrdinarySpecial

6
Strong balance sheet and disciplined Capital Allocation Framework
1.Calculated as total borrowings (bank, fixed rate bonds) less cash and cash equivalents. Excludes
the fair value movement of retail bond CHI030
Growth investment
Net Cash Flow from Continuing
Operations
less Financing Costs
Deleveraging
Target credit metrics consistent
with a shadow BBB/BBB+ credit
rating
Dividend Policy
3
Deliver a stable and growing dividend by paying out 70-90% of
Normalised Free Cash Flow on average over time
Maintenance Capex
8-10% revenue
Conversion
~$27 million remaining to be spent
across H2 2026 and 2027
Normalised Free
Cash Flow
2
Excess Cash Flow
available for
Special dividends
At the Board’s discretion, in the
absence of growth investment
opportunities
Above WACC returns
Contracted Revenue
0
30
60
90
120
150
180
20262027202820292030
Retail bonds (CHI030)Retail bonds (CHI020)Bank
6.75% p.a.
CovenantHY26FY25HY25
Net debt
1

$346m$330m$297m
Liquidity headroom
$93m$108m$138m
Leverage
(Net debt/Rolling 12-month EBITDA)
3.8x3.6x3.1x
Gearing
(Net debt/(Net debt + Equity))
<55%
31%30%27%
Interest cover ratio
(Rolling 12-month EBITDA/Net interest expense)
>2.5x
5.75.65.2
Weighted average debt maturity
3.1 years3.6 years3.7 years
Debt Maturity Profile ($m) as at 30 June 2026
2.Net cash generated fromcontinuing operations less financing, maintenance capex, excluding
conversion costs, site redevelopment costs and growth capex (including acquisitions)
3.The Board reserves the right to amend the dividend policy at any time. Each dividend will be
determined after due consideration of the capital requirements, operating performance, financial
position and cash flows of the Company at the time

7
579
705
693
710
679
699
729
330
1,258
1,404
1,422
1,040
2023202420252026
H1H23Q26
498
509
504
487
514
483
520
242
1,012
992
1,024
729
2023202420252026
H1H23Q26
556
547
538
536
544
540
551
258
1,100
1,087
1,089
794
2023202420252026
H1H23Q26
YTD DIESELYTD PETROL
729m litres
In line with Envisory
outlook
794m litres
In line with Envisory
outlook
1,040m litres
Broadly in line with
Channel’s expectations
YTD JET
YTD Q3 2026 fuel throughput broadly in-line with expectations, despite Iran conflict

8
65%
28%
18%
13%
2026 guidance further upgraded
•FY26 EBITDA guidance further upgraded reflecting:
•greater certainty around fuel throughputs with eight
months’ visibility
•New Zealand Government diesel storage contract
delivered to plan in June 2026
•Z Energy jet storage delivered in early July, six months
ahead of schedule
•Assumed jet fuel growth of ~2% with some additional
passenger demand being absorbed by available seat
capacity on existing flights
2027 outlook
•Full year EBITDA contribution from the Z Energy jet storage
and Higgins bitumen contracts (~$9 million)
•Full year EBITDA contribution from New Zealand
Government diesel storage contract (~$14 million)
•The PPI applicable to FY27 is expected to be published in
November 2026
•Channel will invest an additional $700k to $900k per
annum from FY27 in operating expenditure to support
resilient import terminal operations and the growth
pipeline
FY26 Guidance and Outlook
FY26 EBITDA
Guidance
$95–100 million
(FY25: $93.4 million)
$97-$105 million
$103 - $108 million
FY26 Maintenance
capex
8-10% revenue
(FY25: 8.8%)
UnchangedUnchanged
Normalised Free Cash
Flow Conversion
Broadly in line
with FY25
(FY25: 72%)
UnchangedUnchanged
Dividend Policy
70-90% of
Normalised Free
Cash Flow
(FY25: 13.0 cps)
UnchangedUnchanged
February 2026
Guidance
May 2026
Guidance
August 2026
Guidance

9
51%
51%
53%
52%
53%
53%
53%53%
0
20
40
60
80
100
120
140
160
180
20252026202720282029203020312032
Contracted storageTerminal revenue - fixedTerminal revenue - variable
Contracted storage - Government dieselInflation of 0% to 2.5%Take or pay threshold + Contracted Storage
Contracted revenue outlook $M
1
Revenue underpinned by contracted fixed revenue, PPI indexation and take-or-pay
1.Outlook uses Envisory base case (released October 2024) assumptions and is subject to change based on actual fuel throughput volume. Contracted Revenue from 2026 onwards incudes 3.25% inflation for FY26
2.Excluding revenue from Government diesel storage contract announced 20 April 2026
Contracted
Fixed
Revenue
Fixed revenue %
of total revenue
2
2

10
-
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
20242025
2026
2027
20282029
2030
2031
2032
2033
20342035
2036
2037
20382039
2040
2041
2042
2043
20442045
2046
2047
20482049
2050
2060
PetrolDiesel
Jet2024 Envisory Outlook
2026 Envisory "slower transition" case2026 Envisory "faster transition" case
Updated Envisory forecast: 1.3bn litres of additional throughput estimated to 2050
•Channel uses Envisory’s long-term forecast for business planning
purposes but Envisory’s outlook is indicative only. Channel applies its
own views ondemand and operating conditions when developing its
business plans and market guidance
•Channel’s existing infrastructure can evolve as demand changes.
Since converting Marsden Point to an import terminal, Channel has
grown the proportion of its revenue that is capacity-based and
independent of fuel throughput to more than half of its revenue
Key highlights on Envisory’s updated outlook:
•Envisory’s base case for total fuel throughput in 2060 is
approximately 2% higher than its October 2024 outlook with an
increased share of New Zealand’s petrol and diesel demand to flow
through Channel’s infrastructure
•Consistent with Channel’s expectations, Envisory has lowered its
near-term jet fuel outlook following Auckland Airport’s revised
passenger forecasts and the impact of high fuel prices in 2026.
Envisory continues to expect long-haul travel to support demand
over time, with its 2060 jet fuel outlook broadly unchanged
•Diesel demand is expected to remain higher over a longer timeframe
•Evolving geopolitical environment and the importance of diesel to
New Zealand’s primary and export sections reinforces importance of
New Zealand Government’s strategic diesel reserve providing nine
days of additional storage capacity through to December 2027
•Slower vehicle fleet turnover and electric vehicle uptake mean petrol
demand is expected to remain higher for longer than in Envisory’s
October 2024 outlook
Marsden Point Throughput Outlook (Million Litres)
1
1.Envisory base case released October 2026

11
Our Strategy
OUR VISION
World-class energy infrastructure company
OUR PURPOSE
Delivering resilient infrastructure solutions to meet changing fuel and energy needs
OUR STRATEGIC PRIORITIES
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 Precinct
Concept
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/BBB+
shadow credit
rating
Deliver above
WACC returns
Cost management
Stable and growing
dividends
Infrastructure
Partner of Choice
Grow Through Supporting
the Energy Transition
More Sustainable Future
World-Class
Operator
High Performance
Culture
Grow from
the Core
Support Energy
Transition
Good Neighbour,
Good Citizen
Disciplined Capital
Management

12
Selective and disciplined approach to growth
Nearer term opportunities identified for:
•Additional product storage
•Fuel and energy security projects
Deep experience in project delivery
safely, on budget and on time
Strong return on investment given
repurposing of existing assets
Marsden Point Energy Precinct
#1
Synergistic consolidation along
Channel’s current supply chain to
Auckland Airport
Channel already owns a premium suite
of assets in the New Zealand fuels supply
chain, handling 80% share of Jet volume
and 40% of all transport fuels
#2
Measured growth step-outs
focused on adding to the quality
of Channel’s assets
Acquisitions in New Zealand or
Australia where there is opportunity to
add value:
•Through world-class capability and
proven operation of high-hazard
facilities
•By supporting our customers’
strategies as they evolve and their
capital is reprioritised
•Targeting liquid fuels growth
markets (e.g. jet) and opportunities
supporting the energy transition
Embedded growth opportunities from
acquisitions
#3

MCH, Ammonia / Greenfields Fuels Storage
(9 hectares)
Biofuels Manufacture
Jetties
SAF / Hydrogen
manufacture
Lease (to Long-term Tenant)
Public Access (Mair Road)
Diesel Peaker
Truck Loading Facility (Leased)
Flow Battery /
Strategic Storage
IPL
Stormwater Retention Basin
Jet/SAF Compound
(120 Million Litres Capacity -
75 Million Litres contracted)
Diesel/Biofuels Compound
(120 Million Litres Capacity)
Energy Security Opportunities
Future Fuels Manufacturing Opportunities
Additional Storage Opportunities
Current Facility
Leased to Third Parties
Owned by Others
Marsden Point Energy Precinct
Transformational for Channel and New Zealand
Bitumen Terminal
(under construction)
Transpower, Northpower
Greenfields Fuels Storage (36 hectares)
Strategic Fuels Storage
Sold: CCR
Platformer

14
Proven execution of growth with projects delivered safely, on budget, and on time
20222023202420252026+
Nov-22: Additional Storage
May-24: Transmix Storage
Nov-21: 100 million litres Private Storage
Nov-24: Bitumen import terminal
Remains on track to be completed
in Q4 2026
Aug-24: Z Energy Jet Fuel Storage
Completed six months ahead of
schedule, July 2026
Oct-23: Additional Storage
Aug-25: Additional Storage Extension
Conversion Project
$220 million conversion project continues to be
delivered safely, on-time and to-budget
Measured growth step-out
First measured growth step-out with strategic
acquisition of 25% of Somerton pipeline to
Melbourne Airport in November 2025
Completed
In-Progress
New projects
Six growth projects signed over the past three years
delivering an additional ~$335 million (before PPI
indexation) in incremental revenue over 15 years
2021
Apr-26: Government Diesel Storage
93 million litres of additional diesel
storage at Marsden Point (30%
increase in in-service storage
volume)
Acquisition
Aug-26: bp Storage
New contract for significant
jet and diesel storage

15
Marsden Point Energy Precinct delivery
Z Energy Jet Storage
(announced 23 August 2024)
Boosting resilience in NZ’s jet fuel
supply chain
Significant jet storage contract
delivering ~$55 million (pre-PPI) over 10
years
Delivered in early July 2026, six months
ahead of the original schedule and
within budget
Supporting New Zealand’s energy
security
93 million litres diesel storage contract
to the Government until 31 December
2027 providing ~9 additional days of
New Zealand diesel demand storage
Delivered in June 2026. A unique,
accelerated solution identified in 3
weeks and delivered 9 weeks later
NZ Government Storage
(announced 20 April 2026)
Bitumen Import Terminal
(announced 25 November 2024)
Enhancing New Zealand’s bitumen
supply chain
Higgins has expanded the scope and
capabilities of bitumen facility
increasing total revenue from the
contract to $57 million (pre-PPI) over
15 years (from $45 million)
Delivery on track for late Q4 2026
Boosting resilience in New Zealand’s
jet and diesel fuel supply chain
Significant additional jet and diesel
storage contract delivering ~$130
million (pre-PPI) over 15 years,
commencing Q3 2028
Work commenced September 2026
bp Jet and Diesel Storage
(announced 28 August 2026)

16
Future Energy Precinct Opportunities
Brownfields Storage
350+ million litres of storage capacity
available for repurposing
Scoping study completed into the
feasibility of conversion of existing
tanks and construction of new tanks,
reflecting increasing opportunity for
strategic storage
45 hectares available for new tank
construction
Utilising existing resource consents,
jetties and pipeline infrastructure to
facilitate condensed delivery timelines.
500-700 million litres of additional
greenfields storage capacity could be
accommodated on Channel’s site
Greenfields storageSAF/Biofuels
Several additional parties evaluating
Marsden Point for SAF and biofuels
manufacture
In addition to the Marsden Point
Biorefinery Project, Channel has
entered into an MoU with LanzaJet
who are in the early stages of
exploring the development of an
alcohol-to-jet facility
Up to 72MW of fast start peaking
capacity which benefits from fuel
reserves on site
Industry determining the impact of the
New Zealand Government LNG project
and winter energy reliability
obligations
Electricity Peaking Project

17
Viva Geelong
Refinery
Viva Newport
Terminal
Mobil Altona
Terminal
Mobil Yarraville
Terminal
Proven operator ExxonMobil
JV Owners:
•Channel Infrastructure 25%
•ExxonMobil 37.5%
•Viva Energy 18.75%
•bp 18.75%
~10km pipeline from Somerton
Depot to Melbourne Airport JUHI
Capacity of 4.4 million litres / day
Melbourne AirportSomerton DepotSomerton Pipeline JVTullamarine Pipeline
Other Terminals
Trucking
~34km pipeline from terminals and
refineries to Somerton Depot
Capacity of 16.3 million litres / day
Owners:
•ExxonMobil 50%
•Viva Energy 25%
•bp 25%
Owners:
•ExxonMobil 50%
•Viva Energy 25%
•bp 25%
2025 Metrics
1
•>2,600 million litres jet fuel
demand
•239k aircraft movements
•37 million passengers
Australia’s second busiest
airport
1. 12 months to December 2025
Channel 25% ownership
Channel has a Strategic Position in Melbourne’s Jet Fuel Supply Chain

18
Appendix

19
0
5
10
15
20
25
30
35
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
5,000
Dec 17Dec 18Dec 19Dec 20Dec 21Dec 22Dec 23Dec 24Dec 25Sept 26
DieselPetrolHybridEV
-
20
40
60
80
100
120
140
160
-
1,000
2,000
3,000
4,000
5,000
6,000
Aug-19
Dec-19
Apr-20
Aug-20
Dec-20
Apr-21
Aug-21
Dec-21
Apr-22
Aug-22
Dec-22
Apr-23
Aug-23
Dec-23
Apr-24
Aug-24
Dec-24
Apr-25
Aug-25
Dec-25
Apr-26
Aug-26
Auckland Airport - International FlightsChannel Jet Throughput (ML)
Drivers of demand
1.Source: Auckland Airport Monthly Traffic Update
2.Source: Ministry for Cities, Environment, Regions & Transport
Auckland Airport International Flight Movements
1
New Zealand Light Vehicle Fleet
2
EV new registrations
(RHS)

20
65%
28%
18%
13%
Contracted Revenue Agreements
CONTRACT
DATE
ANNOUNCED
PROGRESS FINANCIAL IMPACT
COSTREVENUETERM
Terminal Services
Agreement
22 Nov 2021 Commenced April 2022 $220 million
conversion budget
(~$27 million
remaining to be spent
across H2 2026 and
2027)
Fixed fee of $40 million per annum
(prior to PPI), reducing to $35 million
(prior to PPI) per annum from April
2028
Variable fees per litre of throughput on
the wharf, pipeline, and truck loading
facility
10 years
2x 5 year rights of
renewal
100 million litres
private storage
29 Nov 2021Storage in service in FY23 safely, on
schedule and within budget. Bunds
delivered in Q1 2025, project complete
$50 million ~$9 million per annum (prior to PPI)10 years
commencing, in
tranches, from Q2
2022
2x 5 year rights of
renewal
Additional Storage 17 Nov 2022Completed safely, on schedule and within
budget
$7 million~$25 million over contract term from
2023
5 years
commencing
2023
Additional storage 19 Oct 2023Completed safely, on schedule and within
budget
Minimal~$9 million over 10 years (prior to PPI) 10 years from
2024
Transmix Storage
Contract
1 May 2024Infrastructure upgrades completed in
December 2024 safely, on schedule and
within budget
$12 - 15 million ~$3 million per annum (prior to PPI)7 years from
December 2024
2x 5 year rights of
renewal
Z Energy Storage
Contract
23 Aug 2024Completed July 2026 safely, ahead of
schedule and within budget
$26 – 30 million across
FY24 to FY26
~$55 million over contract term (prior
to PPI)
10 years from July
2026
Bitumen Import
Terminal Contract
25 Nov 2024On schedule to be delivered late Q4 2026$25 – 27 million across
FY25 and FY26
~$57 million over contract term (prior
to PPI)
Opex of $0.2 million per annum
15 years from Q4
2026
2x 5 year rights of
renewal

21
65%
28%
18%
13%
Contracted Revenue Agreements continued
CONTRACT
DATE
ANNOUNCED
PROGRESS FINANCIAL IMPACT
COSTREVENUETERM
Additional Storage
extension
26 Aug 2025Project is in progress and scheduled to be
delivered in Q1 2028
$20-26 million across
FY26 to FY30
~$50 million over contract term from
2028
9 years
commencing Q1
2028
93 million litres
Government diesel
2 April 2026Completed June 2026Included in growth
capex
$1.2 million per month with the final
month of the contract at no charge in
the event tanks are de-heeled
19 months
commencing
June 2026
bp Storage
Contract
28 August
2026
Project is in progress and scheduled to be
delivered in Q3 2028
$65-70 million across
FY26 to FY28
~$130 million over contract term (prior
to PPI)
15 years from Q3
2028

22
•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. 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 obtain
independent professional advice.
Important Information
•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 or
ASX 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, or 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
presentation.