Transpower Outage

27 November 2019 Transpower outage Refining NZ informs the market that it has become affected by the Northland power outage caused by a fault on the Transpower national grid between Bream Bay to Kaitaia which has caused a total loss of power to the refinery. Refining NZ confirms that the plant has been safely shutdown with no injuries and no identified damage to processing units, and with safety critical systems being maintained by emergency back up power. During these processes flaring will occur as a mechanism to vent refining gasses safely as the processing units are depressurized. Refining NZ has no further knowledge of the incident or when this is likely to be resolved by the electricity providers, but it is awaiting the restoration of grid supplied electricity by Transpower before commencing its restart sequences. Further market updates will be provided as the situation evolves and Refining NZ has further information to provide to the market. ENDS End CA:00345017 For:NZR Type:MKTUPDTE Time:2019-11-27 10:52:20