Channel Infrastructure NZ (CHI) investor relations material

Operational and strategic highlights

• Delivered strong safety performance and increased contractor activity, with zero Tier 1 or 2 process safety incidents in HY26.

• Achieved world-class operational performance despite global fuel supply chain disruptions, maintaining high asset and pipeline availability above 99%.

• Brought 93 million litres of diesel storage online for the NZ Government in nine weeks, adding nine days of national diesel supply.

• Completed Z Energy jet storage project six months ahead of schedule and within budget, with revenue contribution starting H2 2026.

• Announced a new 15-year contract with bp for additional jet and diesel storage, expected to generate ~$130 million in revenue.

Financial performance

• Upgraded FY26 EBITDA guidance to $103–$108 million, reflecting strong contracted storage revenue and operational delivery.

• HY26 revenue grew 5% (excluding legacy Wiri lease), with EBITDA up 3% on an underlying basis and a stable margin of 67%.

• Net profit after tax increased 47% to $19.3 million, with free cash flow conversion at 69%.

• Interim dividend of 7.25 cps declared, up 16% from HY25, with a dividend reinvestment plan at a 1% discount.

• Maintained strong balance sheet with net debt of $346 million and leverage at 3.8x EBITDA, well within target credit metrics.

Market and throughput trends

• Jet fuel throughput grew 2.5% in HY26, supported by the return of Air New Zealand’s widebody fleet and international service growth.

• Petrol and diesel throughput remained stable despite high prices, with a one-off petrol tank outage in Q1 2026.

• Combined light vehicle fleet has been stable since 2017, with steady demand for petrol and diesel.