Channel invests in site redevelopment at Marsden Point

NZX RELEASE
16 December 2025

Channel Infrastructure invests in site redevelopment to support the
delivery of the Marsden Point Energy Precinct
Channel Infrastructure NZ Limited (NZX:CHI), New Zealand’s largest fuel import terminal
business, announced today that it will invest $30 million at Marsden Point as part of critical
infrastructure upgrades in support of the Energy Precinct redevelopment. The infrastructure
upgrades include relocation of the control room to enable the use of land currently designated for
the biorefinery project and construction of a new combined administration building for our import
terminal operations, support and corporate teams.

With continued progress being made on a number of projects within the Marsden Point Energy
Precinct and growing confidence in the delivery of the Energy Precinct vision over time, it is timely
to consider the location of Channel’s people across the available space within the Energy Precinct
to optimise the site to accommodate future tenants.

Chair James Miller said “With the Board gaining increasing confidence in the significant
opportunity ahead of us to deliver on the Marsden Point Energy Precinct at our unique site, it is
necessary to invest in site infrastructure upgrades to optimise the site for this opportunity. The
relocation of the control room and a new combined administration building will allow us to make
space for upcoming precinct projects, and provide a modern working environment as we continue
to invest in a high-performance culture and attract and retain world-class talent.”

“Channel has proven the effectiveness of its import terminal business model and continued to
deliver meaningful growth aligned to our strategy. It is clear that our Company will play an ongoing
role in New Zealand’s economy as a provider of critical infrastructure services for the foreseeable
future.”

The decision to construct a new administration building, incorporating a new control room, aligns
with Channel’s focus on the resilience of supporting infrastructure and enabling the Marsden Point
Energy Precinct and is a further demonstration of our commitment to Northland. The cost to
refurbish the very-aged existing administration building to bring it to a suitable standard
outweighed the benefits and as a result, the most efficient way to relocate the control room and
ensure the resiliency of Channel’s operations to developments within the Marsden Point Energy
Precinct was to construct a new combined control room and administration building within a
suitable area of the site.

The required overall investment associated with the infrastructure upgrades is $30 million across
2026 and 2027. Spend associated with this investment will be fully debt funded and will not form
part of Normalised Free Cash Flows nor impact on dividends to shareholders.

- 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

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.
Channel Infrastructure also owns a 25% interest in the Somerton jet fuel pipeline to Melbourne
Airport and its 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