Investor Presentaiton

CONVERSION PROGRAM Transition to Channel Infrastructure from 1 April 2022 REFINING NZ 2021 ANNUAL RESULTS PRESENTATION Feb 22 Mar 22 Apr 22 May 22 Jun 22 Jul 22 Aug 22 Sep 22 Oct 22 Nov 22 Dec 22 2023 FY21 results Revaluation of terminal assets 1 April: Terminal 10 May: AGM 24 August: Last crude shipment Refinery shutdown Services Agreement fees commence Channel Infrastructure rebranding (NZR: CHI) First Sustainability Report released Refinery decommissioning commences • HY FY22 results Refinery shutdown to commence in March and the TSA fees commence from 1 April. • COVID risks to project costs and delivery are being actively managed and at present remain within project budgeted contingencies • Quarterly updates to be provided through the year as conversion project activity is undertaken Quarterly Conversion Project Updates Continuous operation of the Marsden Point storage facilities and RAP Target recommencement of dividends All private storage commissioned Refinery decommissioning completed 17

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