Extension of option to purchase decommissioned assets

Channel Infrastructure NZ Limited confirms that it has received notice from Seadra Energy Limited (SE) that it is exercising its right under the previously announced Asset Sale Agreement to renew its option to purchase permanently decommissioned assets for an additional six months, for a further non-refundable option payment of US$0.5 million. Over the course of the last six months SE has invested significant time and resource in its ongoing due diligence process, and has submitted to Channel a health, safety and environment plan for the deconstruction work. SE will now have until 7 July 2024 to confirm whether it will proceed with the purchase of the permanently decommissioned assets for a total price, including all non-refundable option payments, of US$33.875 million. - ENDS - Authorised by: Chris Bougen General Counsel and Company Secretary Contact details: Investor Relations contact: Anna Bonney investorrelations@channelnz.com Media contact: Laura Malcolm communications@channelnz.com End CA:00423963 For:CHI Type:GENERAL Time:2023-12-21 14:22:50