Investor Presentaiton

Terminal Services Agreements • • • • . • TSA fees to commence from 1 April 2022 Initial term of 10 years plus two rights of renewal for a further five years each, at customers discretion Combination of fixed and throughput-based fees intended to incentivise utilisation of infrastructure Initial minimum take or pay commitments to support debt funding of initial conversion costs and allow time for recovery in jet fuel demand 'Core' ITS fees are expected to average c.$95 million per annum (real) across the initial 10-year term Additional private storage fees (refer next slide) are expected to average c.$9 million per annum (real) across the same period Annual PPI based indexation of all fees with the first adjustment in January 2023 for the period from 1 April 2022 Annualised Take-or-pay Fee Before annual price indexation adjustments, $m) 120 60 20 ' ■Fixed Fee TERMINAL ARRANGEMENTS 2022 2023 2024 ■Take-or-pay 2025 2026 ■Private Storage Note: Private Storage Agreements have an equivalent renewal right on the basis that the TSA's are renewed 2027 2028 40 $45m Fixed $40m Fixed Fee Fee 100 $100m ToP $90m ToP 80 Annualised Contracted Fees 2029 2030 2031 $35m Fixed Fee $65m ToP Private Storage 2032 2033 2034 2035 2036 2037 2038 2039 End of Second right TSA of renewal First right of renewal 'Core' revenue contracted through bi-lateral Terminal Services Agreements REFINING NZ 2021 ANNUAL RESULTS PRESENTATION 2040 2041 2042 15

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