Investor Presentaiton
GLOSSARY
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LTI - Lost time injury
TRC-Total recordable case
Tier 1 Process Safety Event (API 754) - A tier 1 Process Safety Event (PSE) is an unplanned or uncontrolled release of any material, including non-toxic and
non-flammable, from a process which results in one or more of the following: A LTI and/or fatality; A fire or explosion resulting in greater than or equal to
$25,000 of direct cost to the company; A release of material greater than the threshold quantities given in Table 1 of API 754 in any one-hour period; A
officially declared community evacuation or community shelter-in-place
Tier 2 Process Safety Event (API 754) - A tier 2 Process Safety Event (PSE) is an unplanned or uncontrolled release of any material, including non-toxic and
non-flammable, from a process which results in one or more of the following: A recordable injury; A fire or explosion resulting in greater than or equal to $2,500
of direct cost to the company; A release of material greater than the threshold quantities given in Table 2 of API 754 in any one-hour period.
Net debt - Net debt comprises total borrowings less cash and cash equivalents
Operating "cash neutral” – maintaining a "flat" net debt position (i.e. total lender debt, including subordinated notes, less and cash/funds held on deposit),
after paying all operating, capital and funding costs out of the company's revenue receipts. This excludes Strategic Review restructuring costs.
Reported EBITDA - Earnings Before Depreciation and Disposal Costs, Impairment of assets, Finance costs and Income Tax in a non-GAAP measure. Please
refer to Appendix II for a reconciliation
Free Cash Flow - Net cash generated from operations less investing activities
RAP - Refinery to Auckland Pipeline
TLF Truck Loading Facility
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Services Effective Date - is the commencement date of the Import Terminal System Services under the Terminal Services Agreements (TSA's)
ITS-Import terminal system
REFINING NZ
2021 ANNUAL RESULTS
PRESENTATION
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