Investor Presentaiton

2022 OUTLOOK 1 2 3 4 Q1 Processing Fee revenue currently expected to exceed the Fee Floor by c.$5 to $10 million¹ Import Terminal fees to commence from 1 April, with Take or Pay commitments of c.$75 million in FY22 FY22 Operating costs (excluding conversion costs) expected to be c.$70 million Borrowings will increase over the year and are expected to average around $250 million in FY22 1. 2. 5 Financing costs expected to be c. $14 million² Subject to refinery production levels, export volumes, margins and FX. Fee Floor in 2022 amounts to $147 million Based on existing facilities, BKBM and interest rate hedging in place REFINING NZ 2021 ANNUAL RESULTS PRESENTATION 23

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