MOVE LOGISTICS GROUP LIMITED — Capital/Financing Update 2025

Feb 27, 2025

Company Announcement 28 February 2025

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MOVE APPOINTS PAUL MILLWARD AS CEO

Transport and logistics group, MOVE Logistics Group Limited (NZX/ASX: MOV), is pleased to announce that Paul Millward has accepted the role of permanent Chief Executive Officer, effective immediately.

Chair of MOVE, Julia Raue, said: “In the past six months as interim CEO, Paul has demonstrated his passion for MOVE alongside strong leadership, and is making good progress on the transformation programme and the shift to a high performance culture. His appointment reflects the Board’s confidence in his ability to lead the organisation in achieving transformational change and delivering value to stakeholders, as demonstrated by a significantly improved 1H25 result, announced today.”

Paul Millward commented: “MOVE is an iconic New Zealand business and I’m privileged to be stepping into the CEO role on a permanent basis. While there is still work to be done, we are making good progress. I’m looking forward to leading MOVE through its next phase and unlocking sustainable value in our business for our team, our customers and our shareholders.”

The Board has approved a long term incentive plan for both Paul Millward and Lee Banks, MOVE’s chief financial officer, for 1.3 million shares and 560,000 shares respectively, which vest in June 2028. This long term incentive plan is designed to further align the interests of senior leadership with shareholders and encourage long term decision making and value creation. To this effect, restricted share units have been issued to Paul Millward and Lee Banks. A capital change notice to this effect accompanies this announcement.

ENDS

Approved for release on behalf of the board of MOVE Logistics Group.

For investor/media assistance, please contact: Jackie Ellis t: + 64 27 246 2505 e: jackie@ellisandco.co.nz

About MOVE Logistics Group Limited (MOV)

MOVE is one of the largest domestic freight and logistics businesses in New Zealand, with a nationwide network of branches, depots and warehouses.

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Capital Change Notice

Section 1: Issuer information	Section 1: Issuer information
Name of issuer		Move Logistics Group Limited
NZX ticker code		MOV
Class of financial product		Unlisted Restricted Share Units (RSUs) to subscribe for ordinary shares in MOV under the MOVE Logistics Group Limited 2023 Long Term Incentive Plan Rules (Long- Term Incentive Plan Rules)
ISIN (If unknown, check on NZX website)		N/A
Currency		NZD
Section 2: Capital change details
Number issue~~d~~	~~/acquired/redeemed~~	1,860,000 RSUs
Nominal value	(if any)	N/A
Issue/acquisition/redemption price per security		RSUs were granted at a value of $0.25 each. No cash consideration is required to be paid for the RSUs to vest (i.e. for an equivalent number of Ordinary Shares in MOV to be issued).
Nature of the payment (for example, cash or other consideration)		Non-cash consideration is provided in the form of services rendered and to be rendered by the relevant senior managers of MOV.
Amount paid up (if not in full)		$N/A
Percentage of total class of Financial Products issued/acquired/redeemed/ (calculated on the number of Financial Products of the Class, excluding any Treasury Stock, in existence)1		100%
For an issue of Convertible Financial Products or Options, the principal terms of Conversion (for example the Conversion price and Conversion date and the ranking of the Financial Product in relation to other Classes of Financial Product) or the Option (for example, the exercise price and exercise date)		Exercise:Upon the exercise of the RSUs, MOV will issue one Ordinary Share in MOV for every RSU that vests. Exercise Price:The exercise price for a RSU is nil. Ranking:Any Ordinary Shares in MOV issued on the exercise of the RSUs will rank equally in all respects with all other

1 The percentage is to be calculated immediately before the issue, acquisition, redemption or Conversion.

	Ordinary Shares on issue in MOV. Vesting Date:30 June 2028. Lapse Date:The date on which the relevant senior manager ceases to be employed by MOV (or any subsidiary of MOV).
Reason for issue/acquisition/redemption and specific authority for issue/acquisition/redemption/ (the reason for change must be identified here)	Authorised by the Board of MOV pursuant to the Long Term Incentive Plan Rules. The RSUs are issued to incentivise the senior managers in a manner aligned with the interests of MOV shareholders.
Total number of Financial Products of the Class after the issue/acquisition/redemption/Conversion (excluding Treasury Stock) and the total number of Financial Products of the Class held as Treasury Stock after the issue/acquisition/redemption.	1,860,000
In the case of an acquisition of shares, whether those shares are to be held as treasury stock	N/A
Specific authority for the issue, acquisition, or redemption, including a reference to the rule pursuant to which the issue, acquisition, or redemption is made	Board resolution and Listing Rule 4.6.1
Terms or details of the issue, acquisition, or redemption (for example: restrictions, escrow arrangements)	The RSUs issued in accordance with the terms set out in the Long-Term Incentive Plan Rules. Other terms are detailed above.
Date of issue/acquisition/redemption2	28/2/2025
Section 3: Authority for this announcement and contact person
Name of person authorised to make this announcement	Matt Yates
Contact person for this announcement	Matt Yates
Contact phone number	021 277 9350
Contact email address	matt.yates@duncancotterill.com
Date of release through MAP	28/02/2025

2 Continuous issuers using this form in reliance on Rule 3.13.2, please indicate the period during which the relevant issue/acquisition/redemptions were made (for example, 1 January 2019 to 31 January 2019).