Investor Presentaiton

KEY MESSAGES Another year of excellent personal safety and operational performance Strategic Review concluded, delivering long-term plan to unlock infrastructure value Transition to a fuels import terminal is imminent; conversion cost estimates reconfirmed A fundamental reset of asset base to provide earnings stability and a focus on dividends Private storage agreements show positive early traction with a focused growth strategy REFINING NZ 2021 ANNUAL RESULTS PRESENTATION 3

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