Channel Infrastructure NZ (CHI) AGM 2026 summary

Opening remarks and agenda

• Meeting opened with safety instructions, confirmation of quorum, and hybrid participation details for both in-person and online shareholders.

• Agenda included operational and financial updates, growth projects, and voting on resolutions, with a single resolution on auditor's fees for the year.

• Board and executive team introduced, highlighting expertise in fuel terminal operations, property, aviation fuel supply, financial analysis, and future fuels.

Financial performance review

• Underlying revenue and EBITDA grew by 4% in 2025, driven by indexed contracts, higher fuel volumes, and new storage infrastructure.

• Free cash flow increased by 5%, with conversion ratio rising from 67% to 72%.

• EBITDA guidance for 2026 raised to NZ$97–105 million, reflecting new storage projects, expanded contracts, and early project completions.

• Total shareholder return reached 63% in 2025 and 213% since conversion to an import terminal in 2022.

Board and executive committee updates

• Board composition aligns with strategic priorities, with diverse expertise in energy, safety, property, aviation, finance, and innovation.

• Rob Buchanan retained as Chief Executive through the decade to ensure continuity in strategy execution and delivering growth.