FFI Green Hydrogen Scoping Study Update

Channel Infrastructure (CHI), New Zealand's largest fuel import terminal business based at Marsden Point in Northland, has today provided an update on the scoping study for Green Hydrogen Production. Fortescue Future Industries (FFI) and Channel Infrastructure's study into the potential feasibility of green hydrogen production at Channel's Marsden Point site is progressing, with the next phase, focussed on manufacturing supply for the domestic market, expected to be finalised in the first half of 2023. The initial stage of study works included an assessment of the feasibility of production, storage, distribution, and export of industrial-scale green hydrogen from Marsden Point, and determined that domestic production and use presented the best option for further assessment. The focus of the study will now shift to the viability of options to produce green hydrogen and green hydrogen products for domestic use in New Zealand, with a range of potential uses under consideration including natural gas substitution, transport fuel and the production of Sustainable Aviation Fuel. Channel Infrastructure CEO Naomi James added: "Throughout our transition, Channel Infrastructure's priority has been to assess every opportunity to utilise the existing assets and infrastructure that we have at Marsden Point, and to prioritise work that will support New Zealand's move to lower-carbon, affordable fuel options. Hydrogen is one of the examples where we are well positioned to support this developing industry as it matures in New Zealand and we are excited to be continuing our work with FFI on green hydrogen. We are delivering on our plans to utilise Marsden Point's highly strategic assets to deliver long-term shareholder value, while at the same time supporting our customers to decrease their environmental impact in the future." In December 2021 FFI and Channel Infrastructure announced a Memorandum of Understanding to investigate the commercial and technical feasibility of production, storage, distribution, and export of industrial-scale green hydrogen from Marsden Point. - ENDS - Authorised by: Chris Bougen General Counsel and Company Secretary Investor Relations contact: Anna Bonney investorrelations@channelnz.com Media contact Laura Malcolm communications@channelnz.com +6421 02363 297 End CA:00401387 For:CHI Type:GENERAL Time:2022-10-31 08:40:57