New customer contract to upgrade Marsden Point

Channel Infrastructure announces that it has entered into a new seven-year contract with its customers regarding an upgrade to Channel's Marsden Point infrastructure that will enable transmix to be stored at Marsden Point and exported (with two five-year rights of renewal, exercisable by customers on the same terms, or otherwise extendable on terms as agreed by customers and Channel). The upgrade will involve incremental growth capital expenditure across 2024 of $12-15 million in FY24 and is expected to generate incremental revenue of approximately $3 million per annum, indexed to PPI. Revenues from the new contract are anticipated to commence in late Q4 2024. - ENDS - Authorised by Chris Bougen General Counsel and Company Secretary email: Chris.Bougen@channelnz.com Contact details Investor Relations contact: Anna Bonney Email: investorrelations@channelnz.com Media contact Laura Malcolm email: communications@channelnz.com End CA:00430314 For:CHI Type:GENERAL Time:2024-05-01 09:30:37