Channel Infrastructure releases 2022 Sustainability Report

Channel Infrastructure (CHI), New Zealand's largest fuel import terminal based at Marsden Point in Northland, has today released its 2022 Sustainability Report: Delivering a Sustainable Future. The report sets out the significant progress Channel Infrastructure has made against all of the ambitious sustainability targets set last year and what the future priorities will be. In 2022 Channel Infrastructure delivered on the commitment to significantly reduce its direct emissions. The company is also supporting its customers, who can now access lower carbon fuel options, to bring down their emissions. Throughout it has been working hard to ensure the highly skilled and dedicated workforce who were impacted by the transformation had access to the support they need for their own transition to new opportunities outside of the business. Following an extensive programme of workforce transition support, 97 per cent of those who have left the business have been supported into their next opportunity. With more clarity around the COVID-19 recovery, Channel Infrastructure sought to update its future fuel demand outlooks prepared by fuel industry experts Hale & Twomey. The throughput of Channel's facilities is expected to change over time to meet changing consumer demands, with the shift to electric vehicles, biofuels and continuing growth in aviation. With the latest update showing stronger demand for jet fuel and diesel, this outlook confirms a clear path for long term utilisation of Channel's jetties, tanks, and pipeline direct to Auckland to supply increasingly renewable jet fuel and diesel to Auckland and Northland, long in the future. The new fuel demand outlook is a result of more detailed bottom-up modelling that has never been done before and is outlined in more detail within this report. - 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:00407276 For:CHI Type:GENERAL Time:2023-02-24 08:30:51