Channel Infrastructure NZ Limited · NZX:CHI
Channel Infrastructure NZ — E&P's 11th Annual SMID Caps Conference (October 2026)
24 slides from Channel Infrastructure NZ's conference presentation, Oct 27, 2026
Slide 1: Channel presentation to E&P's 11th Annual SMID Caps Conference
NZX and ASX RELEASE For personal use only 27 October 2026 Channel presentation to E&P’s 11th Annual SMID Caps Conference Channel Infrastructure NZ Limited (NZX:CHI, ASX:CHI), New Zealand’s largest fuel import terminal business, attaches a copy of the presentation that its Chief Executive, Rob Buchan
Slide 2: About Channel Infrastructure
About Channel Infrastructure Channel Infrastructure is New Zealand’s largest fuel import terminal business, 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 im
Slide 3: E&P's 11th Annual SMID Caps Conference
rsonal use only E&P’s 11th Annual SMID Caps Conference NZX: CHI | ASX: CHI October 2026 1
Slide 4: Investment Proposition
Investment Proposition World-class operator with strong safety track record rsonal use only 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 re
Slide 5: Geographic Location
rsonal use only 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-em
Slide 6: Ownership of Critical Infrastructure in New Zealand and Australia
rsonal use only Ownership of Critical Infrastructure in New Zealand and Australia >350 > 290 >410 25% share of Somerton Pipeline to Melbourne Airport 4
Slide 7: Key Financial Metrics – Continuing Operations
Key Financial Metrics – Continuing Operations Revenue EBITDA (Margin %) Growth Capex Set to grow with new contracted revenue in FY26 expected to be $103-$108 million Above WACC returns and contracted revenue rsonal use only FY27-28 $139.8m $140.2m $30.6m $29.3m $130.7m $95.1m $27.1m $93.4m $25.1m $8
Slide 8: Strong balance sheet and disciplined Capital Allocation Framework
Strong balance sheet and disciplined Capital Allocation Framework Covenant HY26 FY25 HY25 Net Cash Flow from Continuing Maintenance Capex Operations Net debt1 $346m $330m $297m 8-10% revenue less Financing Costs rsonal use only Liquidity headroom $93m $108m $138m Leverage Normalised Free 3.8x 3.6x 3
Slide 9: YTD Q3 2026 fuel throughput broadly in-line with expectations
YTD Q3 2026 fuel throughput broadly in-line with expectations, despite Iran conflict YTD DIESEL YTD PETROL YTD JET rsonal use only 794m litres 729m litres 1,040m litres In line with Envisory In line with Envisory Broadly in line with outlook outlook Channel’s expectations 1,100 1,087 1,089 1,404 1,4
Slide 10: FY26 Guidance and Outlook
FY26 Guidance and Outlook 2026 guidance further upgraded February 2026 May 2026 August 2026 Guidance Guidance Guidance • FY26 EBITDA guidance further upgraded reflecting: • greater certainty around fuel throughputs with eight FY26 EBITDA rsonal use only months’ visibility Guidance $95–100 million $9
Slide 11: Revenue underpinned by contracted fixed revenue, PPI indexation and take-or-pay
Revenue underpinned by contracted fixed revenue, PPI indexation and take-or-pay Contracted revenue outlook $M1 180 rsonal use only 160 140 120 100 Fixed revenue % 53% 53% 53% 53% of total revenue 53% 2 52% 80 51% 2 51% 60 Contracted 40 Fixed Revenue 20 0 2025 2026 2027 2028 2029 2030 2031 2032 Contr
Slide 12: Updated Envisory forecast: 1.3bn litres of additional throughput to 2050
Updated Envisory forecast: 1.3bn litres of additional throughput estimated to 2050 • Channel uses Envisory’s long-term forecast for business planning Marsden Point Throughput Outlook (Million Litres)1 purposes but Envisory’s outlook is indicative only. Channel applies its own views on demand and ope
Slide 13: Our Strategy
Our Strategy OUR VISION World-class energy infrastructure company rsonal use only OUR PURPOSE Delivering resilient infrastructure solutions to meet changing fuel and energy needs OUR STRATEGIC PRIORITIES World-Class High Performance Grow from Support Energy Disciplined Capital Good Neighbour, Operat
Slide 14: Selective and disciplined approach to growth
Selective and disciplined approach to growth #1 Marsden Point Energy Precinct rsonal use only Nearer term opportunities identified for: #2 Synergistic consolidation along • Additional product storage Channel’s current supply chain to #3 • Fuel and energy security projects Auckland Airport Measured g
Slide 15: Marsden Point Energy Precinct
Greenfields Fuels Storage (36 hectares) Energy Security Opportunities Transpower, Northpower Future Fuels Manufacturing Opportunities Public Access (Mair Road) Additional Storage Opportunities Strategic Fuels Storage Current Facility Lease (to Long-term Tenant) Leased to Third Parties Truck Loading
Slide 16: Proven execution of growth with projects delivered safely, on budget, and on time
Proven execution of growth with projects delivered safely, on budget, and on time New projects Six growth projects signed over the past three years Measured growth step-out delivering an additional ~$335 million (before PPI rsonal use only First measured growth step-out with strategic indexation) in
Slide 17: Marsden Point Energy Precinct delivery
Marsden Point Energy Precinct delivery Z Energy Jet Storage NZ Government Storage Bitumen Import Terminal bp Jet and Diesel Storage (announced 23 August 2024) (announced 20 April 2026) (announced 25 November 2024) (announced 28 August 2026) rsonal use only Boosting resilience in NZ’s jet fuel Suppor
Slide 18: Future Energy Precinct Opportunities
Future Energy Precinct Opportunities Brownfields Storage Greenfields storage SAF/Biofuels Electricity Peaking Project rsonal use only Several additional parties evaluating Up to 72MW of fast start peaking 350+ million litres of storage capacity 45 hectares available for new tank Marsden Point for SA
Slide 19: Channel has a Strategic Position in Melbourne's Jet Fuel Supply Chain
Channel has a Strategic Position in Melbourne’s Jet Fuel Supply Chain Channel 25% ownership Somerton Pipeline JV Somerton Depot Tullamarine Pipeline Melbourne Airport rsonal use only ~34km pipeline from terminals and ~10km pipeline from Somerton Australia’s second busiest Mobil Yarraville refineries
Slide 20: Appendix
rsonal use only Appendix 18
Slide 21: Drivers of demand
Drivers of demand Auckland Airport International Flight Movements1 New Zealand Light Vehicle Fleet2 6,000 160 5,000 35 rsonal use only 4,500 140 5,000 30 4,000 120 3,500 25 4,000 100 3,000 EV new registrations (RHS) 20 3,000 80 2,500 15 2,000 60 2,000 1,500 10 40 1,000 1,000 5 20 500 - - 0 0 Dec 17
Slide 22: Contracted Revenue Agreements
Contracted Revenue Agreements DATE CONTRACT PROGRESS FINANCIAL IMPACT ANNOUNCED COST REVENUE TERM Terminal Services 22 Nov 2021 Commenced April 2022 $220 million Fixed fee of $40 million per annum 10 years Agreement conversion budget (prior to PPI), reducing to $35 million 2x 5 year rights of rsonal
Slide 23: Contracted Revenue Agreements continued
Contracted Revenue Agreements continued DATE CONTRACT PROGRESS FINANCIAL IMPACT ANNOUNCED COST REVENUE TERM Additional Storage 26 Aug 2025 Project is in progress and scheduled to be $20-26 million across ~$50 million over contract term from 9 years extension delivered in Q1 2028 FY26 to FY30 2028 co
Slide 24: Important Information
Important Information • This presentation contains forward looking statements concerning the • In light of these risks, results could differ materially from those stated, financial condition, results and operations of Channel Infrastructure NZ implied or inferred from the forward-looking statements
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