Q3 2025 Operational Update

Channel Infrastructure NZ Limited (NZX:CHI) has today released its operational update for the three months ended 30 September 2025. Throughput Approximately 50% of Channel’s contracted revenue is fixed/capacity-based fees, with the remainder calculated in relation to fuel throughput: • Total fuel throughput for the quarter ended 30 September was 855 million litres, a 5.2% increase on Q3 2024, and the highest throughput for a third quarter since commencement of import terminal operations - with both jet and diesel recording their highest Q3 level since that date: - Jet throughput was ahead of Q3 2024 volumes but remains in line with Channel’s expectations for the year to date, reflecting Air New Zealand’s well-signaled aircraft availability issues this year. - Petrol and diesel throughput combined for the year to date is higher than the previous corresponding period (YTD 2024) but remains in line with the Envisory fuel demand outlook. - Whilst planned rolling tank outages at Wiri have been impacting 2025 quarterly throughput numbers, there are no one-off fuel movements relating to tanks coming out of, or returning to, service included in this quarter’s results. • 12 import shipments were received and discharged during the quarter, reflecting an increase in larger Long-Range vessels being received at Marsden Point, reducing the overall number of ship movements (Q3 2024: 13). A summary of quarterly product throughput by fuel type since commencement of import terminal operations on 1 April 2022 is included as Appendix I. Growth project and conversion update The Z Energy jet storage project is tracking ahead of schedule and in line with budget. As announced in August, this jet tank conversion is likely to be delivered in H2 2026, ahead of the original schedule of Q1 2027. The bitumen import terminal construction project remains within budget and on track to be delivered in the second half of 2026. The additional storage contract announced 26 August 2025 (generating $50 million of additional revenue over the nine-year contract extension term, pre-PPI indexation) is progressing to plan and with revenue expected to commence in Q1 2028. The extension requires growth capital expenditure investment of $20 - $26 million across 2026 to 2030. Net borrowings increased to $311 million as at 30 September 2025 (30 June: $297 million). The Dividend Reinvestment Plan was applied to the HY25 interim dividend payment, with 21% shareholder uptake and a net dividend of $18.7 million paid in September 2025. Conversion spend is $191 million to 30 September 2025 (30 June 2025: $ 189 million) and remains within budget. The bund upgrade program continues to progress to plan with the final phase of construction continuing through into 2027. - ENDS - Authorised by: Chris Bougen General Counsel and Company Secretary Investor Relations contact: Anna Bonney investorrelations@channelnz.com Media contact: Laura Malcolm communications@channelnz.com