New Zealand Refining : Refining NZ Shareholder Day - 25th January 2018

Media Release

26 January 2018

All hands on deck for Shareholder Day

Refining NZ shareholders turned out in big numbers for the Company's inaugural Shareholder Day - an opportunity to learn about their business at close quarters and speak directly with refinery staff and contractors.

The 'by invitation' event attracted around 350 shareholders, who enjoyed a full day of site tours, briefings and discussion on key aspects of the business and plans for the coming year.

"We were delighted with the turnout and the level of engagement with our shareholders," the Chief Executive Officer, Sjoerd Post, said. "It's a big undertaking to host that number of people, show them around the refinery and deliver a high-quality information programme all in one day. It has occupied many of our people and a significant level of resources, but judged by the many positive comments received, it certainly justified the effort."

Among the topics covered on the day were the day-to-day operations of the refinery, health and safety programmes to keep workers and visitors safe on site, environmental protection, growth initiatives for the business and the many ways in which the refinery works with the community.

Said Post: "Shareholders were keenly interested in the recovery and repair of Refinery to Auckland Pipeline in September so we took the opportunity to tell the individual stories behind ten days of team effort in difficult working conditions, to bring the pipeline back."

"At the same time there was clearly an appetite to understand the key activities for the coming year, including the biggest event on the 2018 calendar: - the planned maintenance shutdown coming up in around three months' time. Talking this through in detail gave shareholders a better understanding of the scale of the Shutdown and the many resources we're bringing on board to ensure it is successful and safe."

"Looking further ahead, the progress of our growth initiatives, including our crude shipping proposal were topics of conversation across the day. So, not only have we had a big year, we also have a big year ahead and it was a pleasure to be able to talk about that with our owners."

The next point of communication from Refining NZ will be the Company's full year financial results to be announced late February.

For information:

Greg McNeill; M: 021 873 623; E:[e-mail]