Channel Infrastructure Nz Limited · NZX:CHI
Channel Infrastructure Nz — H1 2026 Earnings Presentation
29 slides from Channel Infrastructure Nz's earnings presentation, Aug 28, 2026
Slide 1: Financial Results
Financial Results For the six months ended 30 June 2026 28 August 2026 1
Slide 2: Highlights and Operating Update
ROB BUCHANAN, CHIEF EXECUTIVE Highlights and Operating Update 2
Slide 3: HY26 Highlights – delivering fuel resilience for New Zealand
HY26 Highlights – delivering fuel resilience for New Zealand Strong and consistent safety performance with significant increase in contractor activity on site Strong financial result with FY26 EBITDA guidance upgraded today from $97-$105 million to $103-$108 million World-class operational performan
Slide 4: HY26 Financial Highlights
HY26 Financial Highlights1 Revenue EBITDA (Margin %) Capex +5% growth in Revenue (excluding Wiri lease) +3% growth in EBITDA (excluding Wiri lease) Includes New Zealand Government diesel storage project $70.2m $72.9m $33.6m $48.5m $48.8m (69%) (67%) $17.5m $25.1m $69.2m $72.9m $47.5m $48.8m $11.5m $
Slide 5: Strong safety and operational performance
Strong safety and operational performance Process safety incidents 1 Marsden Point throughput (billion litres) Number of ships 33 1.8 35 1.8 1.7 1.7 1.7 30 28 30 26 24 0.5 25 20 Increased ship movements with 15 13% smaller fuel parcels 10 through the fuel crisis 0.4 5 - CONCAWE 2 FY24 FY25 1H26 18%
Slide 6: Growth in Jet demand during H1
Marsden Point Jet Throughput Growth in Jet demand during H1 Million Litres 1,404 1,422 1,258 • HY26 jet volumes grew by 2.5%, broadly in line with Channel’s expectations 699 729 679 • Strong first quarter 2026 jet throughput reflected continued growth of international services at Auckland Airport be
Slide 7: Petrol & diesel stable despite high prices
Petrol Throughput Diesel Throughput Petrol & diesel stable despite high prices Million Litres Million Litres 1,100 1,087 1,089 1,012 992 1,024 Petrol 544 540 551 514 483 520 • Petrol throughput remained stable, in line with the Envisory outlook 509 556 547 538 536 498 504 487 • Elevated fuel prices
Slide 8: Financial Update
ALEXA PRESTON, CHIEF FINANCIAL OFFICER Financial Update 8
Slide 9: Continued strong and stable financial result in line with upgraded guidance
Continued strong and stable financial result in line with upgraded guidance HY26 HY25 • EBITDA up 1% reflecting contracted storage revenue uplift and PPI Reported Profit and Loss Result 1 % change ($M) ($M) indexation, partly offset by loss of the legacy Wiri lease and the Revenue 72.9 69.2 5% contr
Slide 10: Revenue
Revenue HY26 HY25 Revenue up 5% excluding legacy Wiri lease Revenue 1 % change ($M) ($M) Terminal fees – fixed 23.3 24.0 (3%) • Fixed fees impacted by a contracted step down in fixed terminal Terminal fees – variable fee from 1 April 2025, offset by PPI indexation 33.0 31.5 5% Contracted storage 11.
Slide 11: Operating Costs
Operating Costs HY26 HY25 Underlying costs up 6% excluding the impact of Somerton Operating Costs 1 % change ($M) ($M) Energy and utility costs 4.4 4.1 7% • Disciplined cost management of controllable costs Materials and contractor payments 5.7 4.5 27% • Energy and utility cost higher than prior per
Slide 12: Investment for resilience and growth
Investment for resilience and growth HY26 HY25 ($M) ($M) Import Terminal System 5.1 1.8 Tank maintenance 3.4 4.2 Total maintenance capex 8.5 6.0 % of revenue 11.7% 8.5% Growth capital expenditure 25.1 11.5 Conversion capex 2.2 1.7 Site redevelopment capex 5.7 - Total capital expenditure 1 41.5 19.1
Slide 13: Continued headroom in operating cashflow for future dividend growth
Continued headroom in operating cashflow for future dividend growth 400 Normalised Free cash-flow from operations1 $33.6 million 23 346 350 330 (49) 22 5 (0) 8 300 7 250 200 150 100 50 - Net Debt FY25 Operating cashflow Financing Maintenance capex Ordinary dividends2 Site redevelopment Conversion co
Slide 14: Strong balance sheet
Strong balance sheet Debt Maturity Profile ($m) Covenant HY26 FY25 Retail bonds (CHI030) Retail bonds (CHI020) Bank 180 Net debt1 $346m $330m 150 120 Liquidity headroom $93m $108m 90 Leverage 3.8x 3.6x (Net debt/Rolling 12 month EBITDA) 60 6.75% p.a. Gearing <55% 31% 30% 30 (Net debt/(Net debt + Equ
Slide 15: FY26 Guidance and Outlook
FY26 Guidance and Outlook February 2026 May 2026 August 2026 Guidance Guidance Guidance 2026 guidance further upgraded FY26 EBITDA • FY26 EBITDA guidance further upgraded reflecting: Guidance $95–100 million $97-$105 million $103 - $108 million (FY25: $93.4 million) • greater certainty around fuel t
Slide 16: Growth Update
ROB BUCHANAN, CHIEF EXECUTIVE Growth Update 16
Slide 17: Selective and disciplined approach to growth
Selective and disciplined approach to growth #1 Marsden Point Energy Precinct Nearer term opportunities identified for: #2 Synergistic consolidation along • Additional product storage Channel’s current supply chain to #3 • Fuel and energy security projects Auckland Airport Measured growth step-outs
Slide 18: Marsden Point Energy Precinct
Greenfields Fuels Storage (36 hectares) Energy Security Opportunities Transpower, Northpower Future Fuels Manufacturing Opportunities Public Access (Mair Road) Additional Storage Opportunities Strategic Fuels Storage Current Facility Lease (to Long-term Tenant) Leased to Third Parties Truck Loading
Slide 19: Marsden Point Energy Precinct – Six months of further delivery
Marsden Point Energy Precinct – Six months of further delivery Z Energy Jet Storage New Zealand Government Storage Bitumen Import Terminal (announced 23 August 2024) (announced 20 April 2026) (announced 25 November 2024) Boosting resilience in NZ’s jet fuel supply chain Supporting New Zealand’s ener
Slide 20: Future Energy Precinct Opportunities
Future Energy Precinct Opportunities Brownfields Storage Greenfields storage SAF/Biofuels Electricity Peaking Project Several additional parties evaluating Up to 72MW of fast start peaking 350+ million litres of storage capacity 45 hectares available for new tank Marsden Point for SAF and biofuels c
Slide 21: Marsden Point Biorefinery project scope expanded
Marsden Point Biorefinery project scope expanded Project Highlights • The proposed biorefinery is now expected to produce biodiesel, Sustainable Aviation Fuel (SAF), Over $1 billion investment by the urea and other fertilisers with Ballance Agri-Nutrients as principal offtaker, supporting a regional
Slide 22: 2026 measures of delivery
2026 measures of delivery STRATEGIC PILLAR MEASURE 2026 TARGET HY26 PROGRESS STATUS Infrastructure partner of Safely home, every day Lost Time Injuries Zero Two choice Diverse and engaged team Lift in employee engagement score Maintain On track Reliable infrastructure Pipeline availability >98% >99%
Slide 23: Positioned for continued growth with energy security creating further opportunity
Positioned for continued growth with energy security creating further opportunity Strong HY26 operational and financial performance, alongside continued exceptional overall project development and delivery Further contracted revenue uplift in H2 FY26 and FY27 from completed jet and diesel storage, w
Slide 24: Appendix
Appendix 24
Slide 25: Our Strategy
Our Strategy OUR VISION World-class energy infrastructure company OUR PURPOSE Delivering resilient infrastructure solutions to meet changing fuel and energy needs OUR STRATEGIC PRIORITIES World-Class High Performance Grow from Support Energy Disciplined Capital Good Neighbour, Operator Culture the C
Slide 26: Contracted Revenue and Marsden Point throughput outlook
Contracted Revenue and Marsden Point throughput outlook Contracted Revenue Outlook ($M)1 Marsden Point Throughput Outlook (Million Litres)3 180 4,000 160 3,500 140 3,000 120 2,500 100 52% 2 2,000 80 2 Fixed revenue % 51% 50% 49% 49% 50% 50% of total revenue 51% 1,500 60 40 Contracted 1,000 Fixed Rev
Slide 27: Contracted Revenue Agreements
Contracted Revenue Agreements DATE CONTRACT PROGRESS FINANCIAL IMPACT ANNOUNCED COST REVENUE TERM Terminal Services 22 Nov 2021 Commenced April 2022 $220 million Fixed fee of $40 million per annum 10 years Agreement conversion budget (prior to PPI), reducing to $35 million 2x 5 year rights of (prior
Slide 28: Contracted Revenue Agreements continued
Contracted Revenue Agreements continued DATE CONTRACT PROGRESS FINANCIAL IMPACT ANNOUNCED COST REVENUE TERM Additional Storage 26 Aug 2025 Project is in progress and scheduled to be $20-26 million across ~$50 million over contract term from 9 years extension delivered in Q1 2028 FY26 to FY30 2028 co
Slide 29: 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 — H1 2026 Earnings Presentation on 6ix