Q4 2025 Operational Update

Channel Infrastructure NZ Limited (NZX:CHI, ASX:CHI) has today released its operational update for the three months ended 31 December 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 31 December was 945 million litres, a 3.9% increase on Q4 2024 and the highest throughput quarter since import terminal operations began in 2022: o Q4 2025 was the highest jet throughput quarter for Channel since Q1 2019 with the full year throughput volume broadly in line with Channel’s expectations and reflecting Air New Zealand’s well-signaled aircraft availability issues. o Petrol and diesel throughput combined for the year is higher than the previous corresponding period (FY24) and remains broadly in line with the Envisory fuel demand outlook. • 13 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 (Q4 2024:15). 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 2025, 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 contract remains on track to be delivered in the second half of 2026. Construction activities associated with the additional storage contract announced 26 August 2025 are progressing to plan. The contract will generate $50 million of additional revenue over nine-year contract extension term (pre-PPI indexation) and is expected to commence Q1 2028. Net borrowings increased to $330 million as at 31 December 2025 (30 September: $311 million). Conversion spend is ~$196 million to 31 December 2025 (30 September 2025: $~191 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