Determination of Independent Director

The Board of Channel Infrastructure NZ Limited (NZX:CHI, ASX:CHI) has determined that Andrew Brewer is an independent director under the NZX Listing Rules, effective from today. Mr Brewer has been a director of Channel since 6 December 2023, having been appointed by the Board given his significant experience in world-class terminal operations, as well as deep knowledge of health and safety practices and operational excellence. Mr Brewer was subsequently elected as a director by shareholders in April 2024. At the date of his appointment, the Board determined that Mr Brewer was a non-independent director because he was at the time a senior executive of Ampol Limited and a director of Ampol-owned Z Energy Limited, which was at the time a ~12.7% shareholder of Channel. Mr Brewer retired from the board of Z Energy in May 2024 and from all his senior executive positions with Ampol in October 2024. Z Energy ceased to be a substantial shareholder of Channel in March 2025. In making its determination, the Board carefully considered all relevant factors, including the non-exhaustive factors table 2.4 of the NZX Corporate Governance Code. The Board noted that while Mr Brewer has never had a material business relationship with Channel in his personal capacity, Ampol-owned Z Energy has a material business relationship with Channel, with Z Energy being a major customer of Channel under contracted terminal services and private storage arrangements. In this context, the Board recognised that factor 5 of the non-exhaustive factors set out in the NZX Corporate Governance Code may apply. The Board noted: (a) Mr Brewer has confirmed that he did not have accountability for the Ampol and Z Energy business relationship with Channel during his time as an Ampol executive or Z Energy director; (b) Channel has never had any engagement with Mr Brewer (in his capacity as an Ampol executive or as a Z Energy director) in relation to Channel’s business relationship with Z Energy; (c) Mr Brewer’s appointment to the Channel Board in December 2023 was not the result of him being nominated by Ampol or Z Energy, but rather was at the instigation of the Channel Board owing to Mr Brewer’s industry-specific knowledge and experience; (d) Mr Brewer retains some involvement with entities in Australia and the Philippines in which the Ampol group has a non-controlling shareholding, acting as a director of these companies. These roles have been fully disclosed to and considered by the Channel Board, with Mr Brewer confirming that he does not act as an Ampol representative in relation to his directorship on those entities. The Board also notes that none of those entities have any dealings with Channel nor do they operate in New Zealand. Having regard to points (a), (b) and (c) above, the Board considers Mr Brewer’s historical roles with Ampol and Z Energy are immaterial to Ampol and Z Energy’s current business relationship with Channel. In addition, given the passage of time (almost two years since Mr Brewer ceased his senior roles within Ampol) and considering the nature of Mr Brewer’s ongoing involvement as a director with entities in which Ampol has a non-controlling shareholding and their separation from the business relationship between Channel and Ampol (as outlined in point (d) above), the Board is satisfied that even if factor 5 is triggered by virtue of an applying an expanded definition that considers associated relationships of Mr Brewer as well as those in his personal capacity, any application of factor 5 does not cause Mr Brewer to have a disqualifying relationship for the purposes of determining whether he is an Independent Director. Mr Brewer’s directorships are disclosed in the company’s Interests Register, and will be managed as actual or potential conflicts in accordance with the Board’s standard conflict management protocols. In light of the above, and having taken into account the passage of time since his retirement from Ampol and all other relevant factors, the Board is satisfied that Mr Brewer has brought an independent mind and judgement to his role as a Channel director at all times, and will continue to do so and accordingly is an independent director under the NZX Listing Rules. Board Chair, James Miller, commented that “The company continues to benefit from Mr Brewer’s expertise in world-class terminal operations, with Mr Brewer central to the Board’s oversight of Channel’s operations as Chair of the Health, Safety, Environment and Operations Committee.” - 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