MOVE LOGISTICS GROUP LIMITED — AGM Information 2022

Oct 19, 2022

MOVE LOGISTICS GROUP LIMITED 2022 ANNUAL MEETING

==> picture [108 x 27] intentionally omitted <==

20 October 2022

2022 Annual Meeting 2

==> picture [108 x 27] intentionally omitted <==

3

==> picture [554 x 540] intentionally omitted <==

CHAIR LORRAINE WITTEN

Voting & Asking Questions

Voting Card

==> picture [444 x 293] intentionally omitted <==

----- Start of picture text -----

Question box
----- End of picture text -----

AGENDA

• Chair and Executive Director Presentations

• Shareholder Discussion

• Resolutions

• Close of the Meeting

==> picture [429 x 446] intentionally omitted <==

5

BOARD

==> picture [163 x 163] intentionally omitted <==

==> picture [165 x 160] intentionally omitted <==

==> picture [165 x 163] intentionally omitted <==

Danny Chan Independent Director

Chris Dunphy Executive Director

Lorraine Witten Chair

==> picture [165 x 162] intentionally omitted <==

==> picture [165 x 163] intentionally omitted <==

==> picture [165 x 163] intentionally omitted <==

Mark Newman Independent Director

Grant Devonport Independent Director

Peter Dryden Independent Director Retiring at ASM

==> picture [106 x 26] intentionally omitted <==

2022 Annual Meeting

MANAGEMENT

==> picture [867 x 387] intentionally omitted <==

----- Start of picture text -----

JAMES WATTERS CHRIS KNUTH DALE SLADE LEE BANKS ANTHONY MARIO DI LEVA SCOTT CHRIS DUNPHY
COO Contract COO Freight GM Oceans Chief Financial BARRETT GM Sales & CRAMPTON Executive Director
Logistics Officer CIO Marketing GM Dairy
----- End of picture text -----

==> picture [106 x 26] intentionally omitted <==

2022 Annual Meeting

OUR VISION

To be the best freight and logistics company in Australasia and a leader in sustainable logistics services.

==> picture [108 x 27] intentionally omitted <==

LAYING THE FOUNDATIONS For the 12 months to 30 June 2022

==> picture [36 x 44] intentionally omitted <==

July 2021 September 2021 December onwards Selldown by founding Organisation restructure, shareholders Continued to strengthen Board and senior leadership team and Appointment of Chris leadership changes diversify the share Dunphy as Executive Lorraine Witten appointed register Director Chair

==> picture [36 x 45] intentionally omitted <==

Completion of $40m capital raise Name change to MOVE Commenced two year plan Logistics Group to strengthen and grow the Indepth business review business August 2021 November 2021

==> picture [36 x 45] intentionally omitted <==

Assessment of coastal shipping opportunity Initiated digital journey Announced sale process for Specialist business 2H22

==> picture [106 x 26] intentionally omitted <==

2022 Annual Meeting

9

SUSTAINABILITY People, communities, environment

• New monthly and annual safety awards

• Recertified as Toitu Carbon Reduce for 3 years

• Commitment through the business to decarbonisation – YOY reduction in Scope 1 and 2 emissions *

• Signed agreement to lease new hydrogenfuel trucks – expected Q2 FY22

• EV metro truck now operating in Auckland

• Progressed multi-modal strategy – reducing number of trucks on the road

• Technology driving improvements in driver behaviour, fuel consumption and route optimisation

Key safety indicators continue to trend downwards FY18: FY22

90

==> picture [334 x 275] intentionally omitted <==

----- Start of picture text -----

80
70
60
50
40
30
20
10
0
LTIFR TRIFR
----- End of picture text -----

• Appointed a Group Sustainability Lead in July 2022

==> picture [106 x 26] intentionally omitted <==

*Reduction partially due to rebalance of driver workforce. FY22 excludes emissions from owner drivers, which will be included from FY23 onwards

10

2022 Annual Meeting

11

==> picture [554 x 540] intentionally omitted <==

Executive Director Chris Dunphy

OUR BUSINESS

We are one of New Zealand’s largest transport and logistics providers.

• National network with regional strength

==> picture [188 x 168] intentionally omitted <==

• 41 branches, depots, crossdocks, warehouses and offices across New Zealand

==> picture [106 x 26] intentionally omitted <==

2022 Annual Meeting

END TO END SUPPLY CHAIN EXPERTS

We work in partnership with our customers, to deliver the best supply chain solution to meet their needs.

==> picture [164 x 193] intentionally omitted <==

----- Start of picture text -----

FREIGHT
----- End of picture text -----

==> picture [164 x 193] intentionally omitted <==

----- Start of picture text -----

CONTRACT
LOGISTICS
----- End of picture text -----

==> picture [164 x 193] intentionally omitted <==

----- Start of picture text -----

INTERNATIONAL
----- End of picture text -----

FREIGHT

Any industry, any shipment size, we’ll move it throughout New Zealand by Road, Rail and Sea. We’re also one of New Zealand’s leading tank container operators for bulk and hazardous liquids, wine and live fish.

LOGISTICS & WAREHOUSING

We can handle short and long-term storage, pick & pack and dispatch, with a network of warehouses & distribution centres across the country.

GLOBAL LOGISTICS

We have access to a transport network to move goods to all corners of the globe.

==> picture [106 x 26] intentionally omitted <==

2022 Annual Meeting

13

FY22 PERFORMANCE SNAPSHOT First 9 months of 2-year programme to strengthen and grow MOVE

==> picture [753 x 335] intentionally omitted <==

1. Continuing operations excludes Specialist due to the planned divestment of this division

==> picture [106 x 26] intentionally omitted <==

2. Underlying EBITDA, Underlying EBIT and Underlying NPAT exclude non-controlling interest and non-trading adjustments of $3.4m pre-tax related to restructuring and resetting the business as part of the strategic plan (FY21: $1.5m)

3. Including discontinued operations, attributable to owners of the company

14

2022 Annual Meeting

FY22 BUSINESS PERFORMANCE

FREIGHT : Reset on track, albeit with Covid bumps

CONTRACT LOGISTICS : Stable and well positioned for growth

INTERNATIONAL : Strong performance with expansion underway

Sales Freight Contract Logistics International

EBITDA Freight Contract Logistics International

==> picture [106 x 26] intentionally omitted <==

2022 Annual Meeting

FREIGHT

Reset on track albeit with Covid bumps

The improvement programme is ongoing, with another 12 to 18 months expected to build the business to full strength.

Completed

• ✓ New leadership for the Freight business

• ✓ Identify areas of strength and opportunity

• ✓ Customer review

• ✓ Integrate general freight branch network

• ✓ Operational realignment

• ✓ Decentralise admin and customer functions to branch level

Underway

• Focus on margin improvement

• Exit non-core activity

• Strengthen branch leadership

• Continue to grow Owner Driver team

• Divestment of Specialist division

• Commission new technology

• Conversion to fully maintained, leased vehicles as part of asset-light strategy

• Optimise freight branch network

==> picture [106 x 26] intentionally omitted <==

2022 Annual Meeting

16

CONTRACT LOGISTICS Stable and well positioned for growth

Warehousing and logistics solutions across New Zealand

• Focus on developing tailored end to end solutions to meet customer needs

• Business reset complete and capacity at high levels with increasing customer demand

• Benefitting from expansion programme over past three years

• Opportunity to build footprint across industry verticals including diary, primary industries, viticulture, aquaculture and food and beverage

==> picture [106 x 26] intentionally omitted <==

2022 Annual Meeting

17

INTERNATIONAL

Strong performance with expansion underway

We work with a network of partners to move goods of all kinds to and from anywhere

• Energy sector customers have re-established delayed programmes

• Import/export activity has increased

• Rates have been lifted across the sector

• Expansion into shipping

==> picture [106 x 26] intentionally omitted <==

2022 Annual Meeting

18

STRATEGY FOR GROWTH

STRATEGIC PILLARS

Better, Stronger Business

Smart Growth & Expansion

Taking Care Of What Matters

==> picture [106 x 26] intentionally omitted <==

2022 Annual Meeting

BETTER STRONGER BUSINESS

Work our assets smarter:

Investing in what matters and driving better returns on our businesses and assets

Build our multi-modal offer:

Creating a multi-modal offer that utilises the best freight modes to deliver our customers’ goods where and when needed

Optimise earnings:

Focused on optimising our earnings and delivering strong earnings growth and value for shareholders

==> picture [106 x 26] intentionally omitted <==

==> picture [520 x 12] intentionally omitted <==

----- Start of picture text -----

2022 Annual Meeting 20
----- End of picture text -----

OUR DIGITAL JOURNEY

==> picture [419 x 385] intentionally omitted <==

We are on a journey to transform our business and enhance the value we offer to our customers:

• Updating MOVE’s core IT platform

• Investment in hardware

• Specialised Freight Management System

• New People & Culture system

• Digital tools to keep our drivers safe

==> picture [106 x 26] intentionally omitted <==

21

2022 Annual Meeting

BUILD OUR MULTI-MODAL OFFER Trans-Tasman and Coastal shipping opportunities

COASTAL SHIPPING

==> picture [651 x 366] intentionally omitted <==

• $10m in co-funding from Waka Kotahi

• New vessel to be designed, built and mobilised for coastal shipping

• Coastal opportunity provides blue water alternative to trucking, and will deliver carbon emission reductions

==> picture [106 x 26] intentionally omitted <==

2022 Annual Meeting

22

==> picture [170 x 63] intentionally omitted <==

• Monthly Service

• • Full Rotation 25 days

• • Competitive Transits

• • Breakbulk and Containers

• Comprehensive landside Capabilities

• • FCL Delivery Nationwide

• • Container Unpack and LTL delivery

• • Warehousing and full 3PL nationwide

SMART GROWTH & EXPANSION

Deliver for our customers:

Putting our customers at the heart of all we do and delivering the best customer solution and service Upsize our business: Maximising organic and acquisition opportunities to expand our market presence across Australasia, extend our offer and grow our customer base

==> picture [106 x 26] intentionally omitted <==

==> picture [361 x 540] intentionally omitted <==

----- Start of picture text -----

24
----- End of picture text -----

2022 Annual Meeting

TAKING CARE OF WHAT MATTERS

Having a positive impact on our people, communities and the environment

• Safety first, middle and last

• Retain and reward exceptional people

• Positive engagement with our local communities

• Committed to a low carbon future

• All team members ‘MOVE as One’ as we build a new business and attitude

==> picture [106 x 26] intentionally omitted <==

==> picture [362 x 540] intentionally omitted <==

----- Start of picture text -----

25
----- End of picture text -----

2022 Annual Meeting

LOW CARBON FUTURE Range of initiatives to reduce our impact

==> picture [106 x 26] intentionally omitted <==

2022 Annual Meeting

FY23 STRATEGIC FOCUS

• Continue to reset and strengthen the core business

• Digital transformation

• Freight improvement programme

• Expansion into shipping

• Other growth opportunities

==> picture [106 x 26] intentionally omitted <==

==> picture [491 x 504] intentionally omitted <==

2022 Annual Meeting

FY23 GUIDANCE

• Robust sector with growth dynamics

• Continuing to build the foundation and invest into resources, capability and technology

• Freight reset remains in progress – Softer Q1 FY23 sales due in part to inflationary pressures and wet weather affecting customer projects

• Contract Logistics and International – performing to expectations with good demand and margins

• Shipping expansion is well underway and will be a key feature of FY23 result

FY23 Underlying EBITDA for continuing operations expected to be an improvement on the prior year (FY22: $54.3m)

==> picture [106 x 26] intentionally omitted <==

2022 Annual Meeting

OUR STRENGTHS

• Refreshed Board and experienced leadership team, many of whom are industry veterans.

• Multi-modal offer across road, rail, shipping and air freight.

• National network with regional strength.

• Working in partnership with our customers, to deliver the best solution to meet their needs.

• • Digital transformation underway, delivering benefits for our people, our customers and our business.

• Dynamic growth strategy with targeted opportunities to deliver near, mid and long term value.

• Inclusive and diverse culture where all team members ‘MOVE as one’.

• Priority focus on health and safety.

• Future focused, with a goal to be a leader in sustainable logistics solutions in Australasia.

• Robust sector dynamics with growth in projected demand.

• Supportive shareholders who strongly believe in MOVE’s future.

==> picture [106 x 26] intentionally omitted <==

2022 Annual Meeting

29

SHAREHOLDER DISCUSSION

==> picture [960 x 461] intentionally omitted <==

----- Start of picture text -----

2022 Annual Meeting 30
----- End of picture text -----

RESOLUTIONS

==> picture [108 x 27] intentionally omitted <==

2022 Annual Meeting

31

RESOLUTIONS

RESOLUTION 1:

That the Directors be authorised to fix the fees and expenses of PwC as the Company’s auditor.

RESOLUTION 2:

That Lorraine Witten, who retires as a Director and, being eligible, offers herself for reelection, be re-elected as a Director of the Company.

==> picture [106 x 26] intentionally omitted <==

2022 Annual Meeting

32

OTHER BUSINESS CLOSE OF THE MEETING

==> picture [108 x 27] intentionally omitted <==

APPENDICES

==> picture [108 x 27] intentionally omitted <==

2022 Annual Meeting

34

MOVE Logistics Group uses several non-GAAP measures when discussing financial performance and the Board and Management believes this provides a better reflection of the company’s underlying performance.

Non-GAAP Reconciliation

Non-GAAP Reconciliation $Millions FY22 FY21 Net profit/(loss) before income tax from continuing operations(GAAP measure) (2.42) (1.58) Add back: Share of loss of associates .10 .15 Net finance costs 11.05 11.1 Loss in investment in associates .06 .10 Restructuringcosts 1.63 - Share acquisition costs .13 .31 Goodwill and asset impairment 1.62 1.13 Depreciation & Amortisation 42.16 43.27 EBITDA excluding non-trading items (non-GAAP measure) 54.33 54.48 Net profit/(loss) after income tax (GAAP measure) attributable to owners (4.21) .87 Less: Discontinued operations after tax (.57) 2.60 Add back: Non-controlling interests 1.10 .43 Other non-trading expenses, net of tax: Goodwill and asset impairment 1.62 .82 Restructuring costs 1.18 - Share acquisition costs .13 .31 Net profit/(loss) after tax excluding non-trading items (non-GAAP measure) .39 (.17) 35 discussing financial performance and the Board and Management believes this provides a better reflection of the company’s underlying performance. • EBITDA: Earnings before interest, tax, depreciation, amortisation excluding income and impairment from associates • Underlying EBITDA: EBITDA before non-trading costs • Underlying EBITDA Margin: Underlying EBITDA as a percentage of total income • Underlying EBIT: Underlying EBITDA less depreciation and amortisation • Free cash flow: EBITDA excluding non-cash items plus movements in working capital, less net capital expenditure • Net debt: interest bearing liabilities less cash and cash equivalents • Operating cash conversion: cash generated from operations as a %age of EBITDA less non-cash items • Working Capital Ratio: Current Assets excluding held for sale / Current Liabilities excluding borrowings and held for sale • LTIFR: Lost time injury frequency rate • TRIFR: Total recordable injury frequency rate 2022 Annual Meeting

DISCONTINUED OPERATIONS

Discontinued Operations - $000s	2022	2021	change 22 v 21
Revenue	14,339	24,301	(9,962)
Net (loss)/profit before tax	(785)	3,611	(4,396)
Net (loss)/profit after tax	(565)	2,600	(3,165)
Net Cashflows	218	**5,184 **	(4,966)
Assets classified as held for sale	25,263	-
Liabilities directly associated with assets classified as held for sale	6,149	-

PLANNED DIVESTMENT OF SPECIALIST ACTIVITIES

• Planned divestments align to our strategic reset

• Activities being divested are better aligned to private ownership

• Limited cross-over to Freight and Contract Logistics divisions

• In discussion with multiple interested parties

==> picture [106 x 26] intentionally omitted <==

36

2022 Annual Meeting

Disclaimer

This presentation has been prepared by MOVE Logistics Group Limited (“MOV”). The information in this presentation is of a general nature only. It is not a complete description of MOV.

This presentation is not a recommendation or offer of financial products for subscription, purchase or sale, or an invitation or solicitation for such offers.

This presentation is not intended as investment, financial or other advice and must not be relied on by any prospective investor. It does not take into account any particular prospective investor’s objectives, financial situation, circumstances or needs, and does not purport to contain all the information that a prospective investor may require. Any person who is considering an investment in MOV securities should obtain independent professional advice prior to making an investment decision, and should make any investment decision having regard to that person’s own objectives, financial situation, circumstances and needs.

Past performance information contained in this presentation should not be relied upon as (and is not) an indication of future performance. This presentation may also contain forward looking statements with respect to the financial condition, results of operations and business, and business strategy of MOV. Information about the future, by its nature, involves inherent risks and uncertainties. Accordingly, nothing in this presentation is a promise or representation as to the future or a promise or representation that an transaction or outcome referred to in this presentation will proceed or occur on the basis described in this presentation. Statements or assumptions in this presentation as to future matters may prove to be incorrect.

A number of financial measures are used in this presentation and should not be considered in isolation from, or as a substitute for, the information provided in the MOV Listing Profile.

MOV and its related companies and their respective directors, employees and representatives make no representation or warranty of any nature (including as to accuracy or completeness) in respect of this presentation and will have no liability (including for negligence) for any errors in or omissions from, or for any loss (whether foreseeable or not) arising in connection with the use of or reliance on, information in this presentation.

==> picture [106 x 26] intentionally omitted <==

2022 Annual Meeting

==> picture [142 x 34] intentionally omitted <==

MOVE 2022 ANNUAL MEETING OF SHAREHOLDERS

20 October 2022

CHAIR’S PRESENTATION: LORRAINE WITTEN

Board of Directors

Our Board has a breadth of domestic and international business experience, and considerable freight and logistics industry experience.

Peter Dryden has advised that he will be standing down from the Board today. He has been a valued member of the Board and I would like to take this opportunity to thank him on behalf of the Board and shareholders, for his contribution during his tenure.

With the refresh of half our Board last year, we brought in deep industry knowledge, passion and entrepreneurial thinking. New to the Board were Chris Dunphy, Mark Newman and Grant Devonport. All three have considerable freight and logistics industry experience which has been of great value as we reset the business and execute our growth strategy. Chris and Grant both live in Australia and provide valuable in-country knowledge and a Board presence for our Australian shareholders.

In July this year, we undertook an independent review of the Board. The review was broad in nature covering Governance, the operations of the Board, development of our skills matrix and board succession planning. We are pleased that most of our ratings were above average, and we are focused on improving the lowest rating areas.

Our Board skills matrix was included in this year’s annual report. We have identified areas where we would like to add strength to the Board – in particular, marketing, technology and diversity. We are currently recruiting for a new director to replace Pete Dryden, with these skill sets in mind.

There have been no increases in Directors fees since 2018, and we do not recommend an uplift at this time.

Leadership team

MOVE’s leadership team has also been strengthened over the last year, from both within our ranks and by bringing in people with deep industry knowledge and expertise.

Chris Dunphy has been leading our business for the last 15 months in his role as Executive Director. As we signalled at the time of his appointment, this role was only short term, to identify and drive the changes we needed to improve our business. A process is now underway to find and appoint a talented CEO who can lead our business as we continue to execute our new strategy.

Chris will steward the transition to the new CEO and will remain actively involved as a director, in strategy and group development. We will keep shareholders updated when an appointment is made.

Our Vision

Our vision for MOVE is to be the best freight and logistics company in Australasia and a leader in sustainable logistics services.

We are still a long way from this vision. But we have now completed the first year of the change programme, a year that we call Laying the Foundations.

During the last financial year we continued to be affected by the global pandemic disruptions, and the lock down in Auckland late last year. I acknowledge our team members who, being essential services workers, have had to continue to work in this uncertain and potentially risky environment. Many of our team were out around New Zealand making sure supply chains still handled essential product, and I specifically acknowledge and thank them and their families for their commitment to making sure the freight and fuel was delivered.

Laying the Foundations

MOVE has a proud history founded in 1869 and historically operated as a family of brands. We started our journey under the unified MOVE brand in July 2021.

Over the last 12 months, we have changed a lot, putting in place the foundations for our growth plan. This involved some investment and building, and some cutting away.

We restructured our business into two main divisions – Freight and Contract Logistics – and put in place a comprehensive plan to reset the Freight business, which was underperforming. This is now well underway with another 12 to 18 months expected to build the business to full strength.

We have completed the establishment of the team and have the right people in place. There have been dozens of new people come into the business, with deep knowledge in freight, logistics and technology. Attracting such talented people in this difficult employment environment has been a big success. During the last year we changed our short term incentive scheme to reward our leadership in shares instead of cash, so our senior team are now more aligned to growing value in the business and share price.

We have completed the turnaround in service delivery in our freight business. We now have fit for purpose freight schedules, network and coverage, that delivers a better service to our customers. A key plank of this work has been returning delivery responsibility to branch level.

We have completely reviewed our pricing and margins in both major divisions, which resulted in the exit of some low margin work in freight. We deliberately contracted the business to address margin, and will now focus on sales and growth. This has been with a backdrop of increasing fuel prices and cost inflation. We also saw a delay in the delivery of new vehicles, due to hold ups in the supply chain, so we haven’t yet achieved all the margin improvement we had planned in this time period. However, we see this as a timing delay.

The transition to an asset lite model, with new fully maintained vehicles and a majority of owner drivers, is a core plank to reducing operating costs. We have made steady progress with this goal over the year but with the delays of new vehicles, this part of our plan is running behind.

We have started the implementation of the Ignite software, our Transport Management System that will be used across the main divisions of our business. This will remove paper, significantly reduce operating costs and improve efficiency across the network. Our digital transformation programme will also ultimately link us more closely to our customers and provide the back bone for an end to end logistics solution.

Our Contract Logistics division has made really pleasing progress this year under very disciplined leadership. The division continues to improve our warehouse utilisation and deliver improved margins. We have received a number of new fuel tankers through the later part of the year which will improve efficiency and safety in our Fuels business.

We have identified a number of industry verticals where we can provide end to end logistics solutions, that require services from International, Freight, Warehousing, Logistics and shipping in an integrated solution. We have started this focus on providing industry specific solutions. Chris will speak a bit more about this in his presentation.

Getting the foundations right has meant focusing on what is core to our business. Following unsolicited offers, we commenced a divestment process for our smaller Specialist division, which we do not consider as core to our offer. This is ongoing. We have also had an eye on what could sensibly be added to our core, and kicked the tyres on a few companies for sale. Although nothing has landed yet, we remain alert to opportunities.

The $40m capital raise in November last year helped to considerably strengthen the financial structure of our company. We used at least half the funds to reduce debt and are using the other half for strategy execution. Our optimal capital structure is to have debt of 1 to 1.5 times EBITDA before IFRS-16 adjustments, so we’ll sit around $30-$35m in debt, more in line with our industry peers and more prudent during this uncertain time.

Today we have announced that we have finalised the purchase of the Atlas Wind vessel, to support our trans-Tasman shipping strategy. We are also commissioning a new build, fit for purpose vessel for our coastal shipping initiative. Waka Kotahi has committed to co-funding of $10m towards the cost of this vessel as part of their National Land Transport funding package. The vessel design includes methanol tank and pipework installation, which will ensure it is ready for the swap-in of carbon-friendly methanol powered engines as they become available.

We dual listed on the ASX, with trading officially commencing on 1 July 2022. We believe this is a natural progression for our company, and will facilitate greater access to capital, to fund growth opportunities, increase liquidity and provide alignment with our growing Australian investor base.

As I signalled last year, the Board has not declared a Dividend for FY2022, but it is our intention to return the company to paying a dividend once we have reshaped the business. The earliest this would be is FY2023 but will be dependent on the speed of turnaround and other investment activity.

Sustainability

While we are very focused on improving our financial returns, we are also actively seeking to have a positive impact on our people, our communities and the environment.

Our goal is to be a leader in sustainable logistics services and to bring forward a future where our fleet is carbon neutral. We recognise that our goal is big and bold but equally we know that, across the sector, we have to make change. We have identified a number of opportunities to help us on our journey, with initiatives underway in many of these. These are detailed in our Annual Report.

Our first electric metro trucks are on the road in Auckland and we have placed an order for two of the first hydrogen trucks being brought to New Zealand by leasing business, TR Group. While the delivery of these has been severely delayed due to pandemic and supply chain disruption, we hope to have them out on the road in the second half of 2023. Our multi-modal strategy also helps to shift freight from trucks to lower emission modes of transport such as rail and shipping.

An equally important focus over the FY22 year was to support our people through a period of rapid change within the business, as well as the disruption that the pandemic has wrought. A wellness committee has recently been established and counselling services are available to all our people, to assist with financial and mental health issues. Freight and Logistics is traditionally a pretty staunch industry and we recognise that mental health is not often spoken about, so we are focusing our wellness committee in this area.

Health, safety and wellbeing of our people is a priority for the Board and management. This year we again improved our Health & Safety record, showing an improvement year on year for the 5th year in a row, in both the rate of injury, and the time required off work from injury. We have a small team dedicated to working with any of our people who are injured, to help them get the medical care they need, and with returning to work.

We would like to acknowledge and thank our people for all their efforts and support on our journey. They are the backbone of our business and we are deeply appreciative of their choice of MOVE as their place of work.

While there is still much work to be done, we have made pleasing progress in FY22 Laying the Foundations, and we are confident we have the people, the strategy and the passion to achieve our goals.

I will now hand over to Chris to talk more on our financial performance last year, our strategy and progress.

EXECUTIVE DIRECTOR PRESENTATION: CHRIS DUNPHY,

Our Business

MOVE is one of New Zealand’s largest transport and logistics providers, with 41 branches, depots, crossdocks, warehouses and offices across New Zealand.

Our business has been built on the strength of regional brands and businesses.

This ability to service customers across New Zealand sets us apart from many other providers who do not have the same regional or sector presence.

End to End supply Chain Experts

Our goal is to keep our customers moving – providing reliable, innovative and efficient solutions to transport, store and deliver their goods. We make it easy for our customers, using technology, expertise and our assets to create tailored solutions which meet their needs.

We work in partnership with our customers to deliver the best supply solution to meet their needs, including freight, warehousing, logistics and international transport.

Our expert team provides comprehensive freight and logistics solutions to help our clients stay ahead in a fast paced world.

Our network connects us to our customers and allows us to deliver the best warehousing and freight solution – whether that is by road, rail, ocean, air or a mix of all four.

We work with customers right across New Zealand and in a diverse range of sectors.

Few businesses have the scale, strength and expertise of MOVE to deliver a seamless end to end supply chain solution for business customers across the country. While the operating environment is creating challenges for businesses, it is also presenting opportunities for those with the desire and resources to grow as competitors wane.

Business Performance FY22 Performance Snapshot

We’ve made good progress in the business since our last shareholder meeting.

Our financial results for the year ended 30 June 2022 reflect the first nine months of a two year programme to reset the company, as well as the challenging operating conditions and economic headwinds over the year.

We delivered underlying earnings of $54m in line with our guidance, and an underlying profit of $0.4m after adjusting for restructuring costs.

Detailed information on our FY22 results and progress was provided in our results presentation and annual report, which are all available on our website in the Investor Centre. We will be happy to take any questions on these later in the meeting.

FY22 Business Performance

Early in the 2022 financial year. we restructured the business into three divisions. Freight and Contract Logistics are our primary divisions, delivering over 90% of our revenue and EBITDA.

International is a much smaller business but an important part of our end to end supply chain offer.

Freight

The Freight reset is on track, although with some covid bumps. We started the FY22 year with an indepth review of the Freight business and identified LCL (which is less than a container load) general freight as an attractive growth opportunity for MOVE.

We have realigned our customer portfolio to focus on areas of strength and adjusted our rates to ensure we are receiving fair reimbursement for the scope and quality of services we offer. We have not been afraid to walk away from business that is unprofitable or outside of our strategic direction.

Our digital transformation has now commenced and the new Transport Management System will deliver significant benefit for both us and our customers.

We are moving towards an asset light model. This will see us move to leasing fully maintained vehicles and expanding our use of owner drivers.

We have a big planned investment in new, leased trucks, although delivery has unfortunately been delayed by global supply chain disruptions. We are now expecting to receive these during FY23.

We’ve moved the dial on our workforce, with about 39% Owner Drivers as at year end, and a target of at least 50% in the next two years.

The efforts being put into the turnaround are now starting to deliver initial results, and the focus remains on continuing margin improvement.

Contract Logistics

Our Contract Logistics business covers warehousing and logistics. We are focused on developing tailored end to end solutions to meet our customer needs. These often utilise all aspects of our business, from international to freight and warehousing…with shipping soon to be added to the mix.

The business reset was completed last year and we are benefitting from the expansion programme over the past three years. Capacity is at high levels across the network, with increasing demand.

A number of our customers have been with us for over 10 or even 20 years and we have built strength in these sectors, including investment in specialised equipment and team members with specific expertise. We see this as an advantage and an opportunity to build our footprint. In particular, we have identified dairy, primary industries, viticulture, aquaculture and food & beverage as areas of interest.

We recently appointed Scott Crampton to evaluate and lead our Dairy strategy, which is focused on providing next level solutions to the independent dairy sector. These tend to be long term contracts, with long lead times. Scott has worked extensively in this sector and his knowledge and network of contacts are of value as we create and build relationships with these customers.

International

International is a much smaller but an important part of our business.

We work with a network of partners across the globe to transport goods by ship and air, including customs clearance and brokerage.

A number of our larger customers are in the energy sector, where we help with the logistics of bringing in large oil platforms, drills and other specialised equipment, as well as transporting wind turbines and parts for windfarms. Covid put a hold on many programmes, and it has been pleasing to see these starting up again in the last 6 to 12 months.

Our new coastal and trans-Tasman shipping services will expand our offer for customers and are an exciting part of our growth strategy for this business.

Strategy for Growth

As a team, we are very focused on growing our business. We don’t just want to be a NZ business, we want to be seen as a leader in our sector with a footprint across Australasia.

To achieve our goals, we have put a strategy in place focused on three areas:

• Creating a stronger better business

• Smart growth and expansion; and

• Taking care of what matters.

Today, I’d like to talk in more detail about each of these pathways and some of the initiatives we have underway.

Better Stronger Business

The first thing we are doing is building a better stronger business.

We are working our assets smarter, investing in what matters and driving better returns for our business.

We are creating a multi-modal offer that utilises the best freight modes to deliver our customers’ goods where and when needed

And we are focused on optimising our earnings and delivering strong earnings growth and value for shareholders.

Our digital journey

Digital technology is essential to any modern business and we have embarked on a journey to digitally transform our business.

This will provide significant benefits for MOVE. It will drive operational leverage, make it easier for our team to work together collaboratively, create business resilience, reduce our cost to serve and, importantly, satisfy current and future customer requirements.

Two of the biggest projects we have underway this year are the introduction of the new Transport Management System which we are calling FuseIT; and a new HR and Payroll platform called Ready Workforce.

FuseIT will offer significant benefits including improved delivery times and visibility, and better information for our customers, and a greater capability to receive and use forecast data, which will allow us to manage peaks and surges more effectively.

Technology is playing an important role in Health & Safety of our people, with electronic log books and in-cab Guardian technology helping to manage fatigue; and forward facing cameras in truck cabs

which monitor vehicle activity, improve fleet safety and can reduce costs associated with insurance claims. Pre-start truck checks are also being digitised to make it easier and ensure all essential checks are carried out before the truck and driver hits the road.

Build our multi-modal offer

As you have heard from Lorraine, we are building on our multi-modal offer. We already have an extensive road freight network across New Zealand and have been expanding our use of rail over recent years.

Coastal shipping is an exciting opportunity for our business and we are leading the way in the sector.

Currently, the only options available for moving rolling stock between the North and South Islands are via the Cook Strait ferries which operate between Wellington and Picton. These vessels require linkspan/ramp operations for loading and unloading cargo and the vessel ramp configurations mean that these ships cannot berth at standard cargo wharves.

The new service being offered by MOVE will be capable of calling into at least thirteen New Zealand Ports, without the need for any new Port infrastructure to be built.

We have been awarded $10 million in co-funding from Waka Kotahi to support our strategy, and our immediate focus is on the design, building and mobilisation of a quarter-ramp Roll On/Roll Off (RORO) vessel which will initially enable a new sea bridge between Nelson and New Plymouth. The quarter-ramp Roll On/Roll Off vessel service is unique and will be an industry first for coastal shipping in New Zealand.

Trans-Tasman shipping

We have also established a new trans-Tasman shipping route, connecting regional ports in New Zealand with Tasmania and other ports on Australia’s east coast. For some of these regions, the MOVE service will be the only direct ship route, while in other regions, it will provide a further option for customers currently facing shipping constraints and difficulties.

This week we finalised the purchase of a vessel, the Atlas Wind, with the first trans-Tasman sailing scheduled for December this year.

The Atlas Wind can carry 366 containers, or the equivalent of 5,000 tonnes of bulk cargo. With two cranes on board, the vessel has the ability to call into ports that historically may not have been able to accept containerised and bulk cargoes.

One of our cornerstone customers will be BioMar Australia, which will be utilising the direct service to ship its high-performance fish feed from Tasmania to key aquaculture businesses in New Zealand.

While the aquaculture industry has been first off the mark to recognise the value of a direct, regional trans-Tasman shipping route, we have also received strong interest and commitments from a range of other businesses.

Smart growth and expansion

Our second strategic pathway is smart growth and expansion.

This focuses on putting our customers at the heart of all we do and delivering the best customer solution and service.

We will also upsize our business through organic and acquisition growth - expanding our market presence across Australasia, extending our offer and growing our customer base.

Taking care of what matters

We don’t just want to be a profitable business; we also want to be a positive business. This means taking care of our people, communities and planet.

Safety is first, middle and last. Staying safe, keeping others safe and supporting each other are fundamental to who we are as an organisation. It is a constant focus for our team and we were pleased that our safety metrics reduced again last year, for the fifth year in a row.

We are building a culture across the business, where our people feel supported and where their achievements and efforts are recognised. Reward and recognition programmes have been initiated including monthly Health & Safety Awards, which encourage our people to proactively look for opportunities to make their workplaces and team members safer.

‘We MOVe as one’ has become the mantra for our team, with all our people supporting and backing each other to get the job done, safely, for our customers.

We are mindful there is a lot of ground to cover to achieve our goal of zero harm; and safety across the MOVE group remains a priority.

The tight labour market remains a challenge and we are working closely with industry organisations to encourage people into the sector, particularly young people and females. MOVE now has accreditation for our main business units which allows us to apply for work visas to being overseas workers into NZ.

In the transport industry we have to acknowledge that we use fossil fuels, and as an industry must play our part authentically in the transition to a non-fossil fuel future. Road transport is a major contributor, not only to CO2 emissions, but also to particulate matters, such as Sulphur Dioxide and Nitrogen Dioxide, both known carcinogens. It is imperative that we actively address this issue and strive to find ways to do business in a better and more sustainable manner.

Low carbon future

At MOVE, we are focused on reducing our carbon footprint, through utilising different modes of transport, improved driving behaviour, alternative fuels and route optimisation.

As we have said previously, we believe hydrogen fuel can play a positive role in decarbonising the transport sector. We have ordered our first two hydrogen fuelled vehicles for delivery now planned

for mid to late next year, and will be one of the first transport businesses in New Zealand to have these hydrogen trucks in our fleet.

We will continue to look at other opportunities to expand our fleet in collaboration with like-minded suppliers, industry colleagues and customers.

Our move to incorporate other modes of freight transports, such as shipping and rail as part of our customer solutions, will also help to reduce our impact and take heavy trucks off New Zealand’s roads.

We are also looking at how we can operate more sustainably in our branches and warehouses by transitioning to electric forklifts, reducing waste and designing and refitting buildings to be carbon neutral.

Strategic pathway

In our annual report, we outlined our progress on key initiatives over the mid, near and long term.

Ove the next year in particular, our focus continues to be on resetting and strengthening our core business.

The digital transformation will step up in pace, as we implement the new FuseIT system in Freight and roll out Ready Workforce across the group.

Our Freight improvement programme remains a priority, with a focus on driving revenue and higher margins.

We will embark on our trans-Tasman shipping route shortly and will see the financial benefits of this in our FY23 results. Coastal shipping will commence in the first quarter of the 2024 calendar year, when the new build vessel is completed and launched.

We are also focused on growing our business, through building our footprint in priority customer sectors, increasing our customer base and bolt on acquisitions.

FY23 guidance

We operate in a robust sector with strong projected growth in demand.

MOVE has excellent bones and the foundation is now being put in place to help us deliver on the company’s potential.

We are encouraged by the momentum over the last year, the growth initiatives being underway and the excitement amongst our team.

While we are still facing headwinds and supply chain disruptions, our business transformation is progressing well with increasing benefits expected to be seen from FY24 onwards.

The Freight reset remains in progress, with improvements in service delivery already achieved. Sales in this business were softer in the first quarter of the year, due in part to inflationary pressures and wet weather which has affected a number of larger customer projects.

Contract Logistics and International are both performing well, and we expect to see early benefits from the shipping and other growth initiatives in FY23.

For the 2023 financial year ending 30 June 2023, we are expecting underlying EBITDA from continuing operations to be an improvement on last year’s $54.3m.

Our Strengths

MOVE is a strong business, and while our financial performance is not yet where we want it to be, we are in no doubt of the long term potential of our company.

We have laid the foundations and are now working hard to capitalise on these and the growth opportunities we see for MOVE.

On a personal note, and alongside other directors, I am fully invested and committed to this business – even my 80 year old mum has shares in the company.

We ardently believe in MOVE and the ability of our team to achieve our goals.

Ka Kite Ano

ENDS