Channel Infrastructure Nz Limited · NZX:CHI
Channel Infrastructure Nz — Shareholder Meeting (May 2025)
32 slides from Channel Infrastructure Nz's shareholder meeting presentation, May 23, 2025
Slide 1: Annual Shareholders Meeting 2025
Annual Change picture to the same one as the AR cover Shareholders Meeting 2025 Change picture to cover of AR 23 May 2025 1
Slide 2: Welcome
CHRIS BOUGEN, GENERAL COUNSEL & COMPANY SECRETARY Welcome 2
Slide 3: Participate in Virtual Meetings
Participate in Virtual Meetings Shareholder and Proxyholder Q&A Participation • If you have a question, please select the Q&A tab on the right half of your screen at any time. Type your question into the field and press submit. • The Q&A tab can also be used for help. If you need assistance, please
Slide 4: Agenda
Chair’s address James Miller, Chair Chief Executive’s address Rob Buchanan, Chief Executive Agenda Resolutions and voting James Miller, Chair General business James Miller, Chair 4
Slide 5: Chair's address
JAMES MILLER, CHAIR Chair’s address 5
Slide 6: Extensive Board Experience
Extensive Board Experience James Miller Andrew Brewer Angela Bull Vanessa Stoddart Board Chair, Independent Director Non-Independent Director Independent Director Independent Director Andrew Holmes Anna Molloy Felicity Underhill Paul Zealand Independent Director Independent Director Independent Dire
Slide 7: Our Strategy
Our Strategy OUR VISION World-class energy infrastructure company OUR PURPOSE Delivering resilient infrastructure solutions to meet changing fuel and energy needs OUR STRATEGIC PRIORITIES World-Class High Performance Grow from Support Energy Disciplined Capital Good Neighbour, Operator Culture the C
Slide 8: Marsden Point Energy Precinct Concept
Energy Security Opportunities SAF Manufacture Expansion (Phase 2) Future Fuels Manufacturing Opportunities Public Access (Mair Road) Transpower, Northpower Additional Storage Opportunities Services for SAF Manufacture Current Facility Lease (to Long-term Tenant) Leased to Third Parties Gas/Diesel Tr
Slide 9: Once in a generation opportunity for Northland
Once in a generation opportunity for Northland Construction phase Operational phase 20,000 jobs Once Energy Precinct is complete 1,150 jobs Created over the 10-15 year construction phase $3.3 billion $290 million GDP Spent during construction Annually for New Zealand Figures calculated by PwC based
Slide 10: Channel continues to outperform the NZX50
Channel continues to outperform the NZX50 1,2 Dividends Total Shareholder Return (CHI versus NZX50) 37.4% 36.2% 11.0cps 10.5cps 11.4% 9.2% 5.0cps 2.6% 2.0cps 1.5cps (12.0%) FY22 FY23 FY24 FY22 FY23 FY24 Ordinary Special NZX50G CHI 1. FY22 TSR calculated from date of CHI conversion 1 April 2022, FY23
Slide 11: Increased dividend pay-out
Increased dividend pay-out The Board is focused on a stable and growing dividend and optimising Channel’s balance sheet to balance growth and shareholder returns • The Board reiterates FY25 EBITDA and maintenance capex guidance Illustrative dividend outlook based on financial performance to 30 April
Slide 12: Chief Executive's address
ROB BUCHANAN, CHIEF EXECUTIVE Chief Executive’s address 12
Slide 13: 2024 Operational Highlights - Keeping Aotearoa New Zealand moving
2024 Operational Highlights - Keeping Aotearoa New Zealand moving JET FUEL 1,404m litres +12% PCP Highest jet fuel demand since 2019 Zero Process Safety Incidents 3.5 billion 1,087m litres DIESEL litres -1% PCP +3% PCP Delivered to market from Marsden Point 992m litres 84% PETROL Pipeline utilisatio
Slide 14: 2024 Financial Highlights – Continuing Operations
2024 Financial Highlights – Continuing Operations Total Revenue EBITDA Net Tangible Assets per share (Margin %) +9% +7% $1.98 $87.2m $95.1m $130.7m $139.8m (68%) $1.29 (67%) FY23 FY24 FY23 FY24 FY23 FY24 Normalised Free Cash Flow Free Cash Flow Conversion Capital Expenditure +3% 71% $30.6m $29.3m 67
Slide 15: Proven track record of delivering capital projects safely, on budget, and on time
Proven track record of delivering capital projects safely, on budget, and on time Conversion project Private storage Transmix $55 million invested 2021-2027 2021-2025 2024 in Channel’s infrastructure in FY24 13% ✓ Everyone home safely ✓ Everyone home safely 18%safely ✓ Everyone home Safety ✓ Strong
Slide 16: Growth opportunities secured in 2024
Growth opportunities secured in 2024 Upgrade Marsden Point infrastructure to enable Transmix transmix to be stored and exported Boosting resilience in New Zealand’s jet fuel supply Z Energy Storage chain by creating significant additional storage of jet fuel Diversifying customer base and product ha
Slide 17: Growth and energy resiliency initiatives
Growth and energy resiliency initiatives Diesel Stockholding obligations Biofuels Manufacture Government announced diesel Minimum Stockholding Obligations to Potential Seadra biorefinery project be increased from 21 to 28 days from 1 due diligence progressing July 2028 Capacity peaking project Growt
Slide 18: Resolutions and Voting
JAMES MILLER, CHAIR Resolutions and Voting 18
Slide 19: Resolution 1
That Directors be authorised to fix the fees and expenses of Ernst & Young as auditors to Resolution 1 the Company for the financial year ending 31 December 2025 19
Slide 20: Resolution 2
That Ms. Angela Bull, who retires in accordance with clause 8.8 of the Resolution 2 Constitution, be elected as a Director of the Company 20
Slide 21: Resolution 2 – Angela Bull
Resolution 2 • Extensive executive experience in commercial property and retail development. • Current governance roles include Property for Industry (NZX: PFI), Vital Healthcare Property Trust (NZX:VHP), Fulton Hogan, Foodstuffs South Island, Bayleys Real Estate and as a Trustee of St Cuthbert’s Co
Slide 22: Resolution 3
That Mr. Andrew Holmes, who retires by rotation in accordance with clause 8.9 of the Resolution 3 Constitution, be re-elected as a Director of the Company 22
Slide 23: Resolution 3 – Andrew Holmes
Resolution 3 • Deep understanding of business opportunities in the downstream industry and successfully undertaking radical operational change in all facets of a petroleum business. • Currently involved in consulting and advisory roles for energy transition start-ups and on energy industry commercia
Slide 24: Resolution 4
That Mr. James Miller, who retires by rotation in accordance with clause 8.9 of the Resolution 4 Constitution, be re-elected as a Director of the Company 24
Slide 25: Resolution 4 – James Miller
Resolution 4 • Deep experience in capital markets and downstream energy sector. • Director of Mercury NZ Limited, Ryman Healthcare Limited and Vista Group International Limited. • Previously held Board and leadership positions at Craigs Investment Partners and ABN AMRO. He was a Director of Auckland
Slide 26: Resolution 5
That Ms. Anna Molloy, who retires by rotation in accordance with clause 8.9 of the Resolution 5 Constitution, be re-elected as a Director of the Company 26
Slide 27: Resolution 5 – Anna Molloy
Resolution 5 • Over 15 years’ experience in equity capital markets, investment management, private equity and business development. • Currently an independent director for ANZ Investments. • Previously, an equity analyst for Masfen Securities and Artemis Capital, Future director for NZX board. • Ms
Slide 28: Resolution 6
That Mr. Karl Barkley, who is nominated as a Resolution 6 director by a Shareholder of the Company in accordance with Listing Rule 2.3.1, be elected as a Director of the Company 28
Slide 29: Resolution 6 – Karl Barkley
Resolution 6 Mr. Barkley states that he has work experiences in the engineering and construction field. Mr. Barkley states his key credentials to be: • Experience as fitter/welder, boiler operator and maintenance engineer • Experience as a business owner including hiring staff Karl Barkley • Strong
Slide 30: General Business
JAMES MILLER, CHAIR General Business 30
Slide 31: Conclusion of meeting
JAMES MILLER, CHAIR Conclusion of meeting Please join us for refreshments 31
Slide 32: Important Information
Important Information • This presentation contains forward looking statements concerning the • In light of these risks, results could differ materially from those stated, financial condition, results and operations of Channel Infrastructure NZ implied or inferred from the forward-looking statements
Channel Infrastructure NZ — Shareholder Meeting (May 2025) on 6ix