CONSENT LODGED – ENTRANCE CHANNEL IMPROVEMENT PROJECT

NZX & MEDIA RELEASE 17 May 2021 CONSENT LODGED - ENTRANCE CHANNEL IMPROVEMENT PROJECT South Port lodged a Resource Consent Application with Environment Southland today to deepen the entrance channel and harbour to 10.7 metres. "Extensive consultation has been undertaken and we have completed a number of environmental assessments in preparation for lodging this consent", said South Port Chairman Rex Chapman. "The increased depth will be achieved by removing some higher areas that currently limit channel width and depth in the entrance channel". The benefits of removing the highpoints in the channel and increasing the current 9.7 metre operating draft would assist with improving safety margins for ship movements and provide greater capacity for vessels to take on additional cargo. "This is a major project for the Port and will provide benefits to the region's customers for years to come and aligns with the Company's purpose to facilitate the best logistic solutions for the region", he added. "With uncertainty over the potential closure of New Zealand Aluminium Smelter (NZAS) by 2024, it is crucial now, more than ever, that the Port continues to look for opportunities to secure growth and its future", said Chief Executive Nigel Gear. It is important that Southland has a port with a competitive channel depth that will provide flexible options for shipping companies and new industry considering coming into the region. "COVID-19 has also significantly impacted the world's supply chains. An increase of depth in the harbour would assist in alleviating current congestion issues, as well as providing for growth in the future", he added. It is expected that the consent will be processed this calendar year and it is hoped that work can commence within the next 24 months. FOR FURTHER INFORMATION PLEASE CONTACT: Mr Nigel Gear Chief Executive South Port New Zealand Ltd Mob: 027 494 3322 Email: ngear@southport.co.nz Mr Rex Chapman Chairman South Port New Zealand Ltd Mobile: 027 454 8455 Email: rex.chapman@cplaw.co.nz End CA:00372326 For:SPN Type:GENERAL Time:2021-05-17 16:27:00