Completion of retail bookbuild

12/12/2024 08:30 NZDT, OFFER

Channel Infrastructure NZ Limited (Channel Infrastructure) (NZX:CHI) advises that it has successfully completed the Retail Bookbuild component of its underwritten 1 for 12.12 underwritten pro rata accelerated renounceable entitlement offer (the Offer) announced on Monday, 25 November 2024. Channel Infrastructure has now successfully completed the Offer, raising total gross proceeds of ~$50 million.

The net proceeds of the Offer will provide funding for the three new growth contracts secured in 2024.

The Retail Bookbuild of approximately 3.8 million shares was well supported, achieving a clearing price of $1.80 per share.

The clearing price represents a premium of $0.20 per share over the offer price of $1.60 per share. Therefore, eligible retail shareholders who did not take up their entitlements in full and ineligible retail shareholders will receive $0.20 for each entitlement not taken up by them (less any applicable withholding taxes). This premium is expected to be paid on Friday, 20 December 2024.

Scaling has been applied to institutional and broker bids, and to applications received from eligible retail shareholders who took up their entitlements in full under the Retail Entitlement Offer, in accordance with the allocation policy set out in the Offer Document dated 25 November 2024.

Channel Infrastructure Chief Executive Officer Rob Buchanan, said: “We are extremely pleased with the significant level of shareholder support received across both the Retail Offer and Institutional Offer. The Offer was structured to provide fairness to shareholders, whilst also securing funding for Channel Infrastructure’s key growth initiatives. Once again, we thank our shareholders for the continued confidence they have shown in Channel Infrastructure.”

New shares issued under the Retail Entitlement Offer and the Retail Bookbuild are expected to be allotted and commence trading on the NZX on Monday, 16 December 2024.

-ENDS-

Authorised by:

Chris Bougen

General Counsel and Company Secretary

Contact details:

Investor Relations contact:

Anna Bonney

investorrelations@channelnz.com

Media contact:

Laura Malcolm

communications@channelnz.com