TLL Acquires Heavy Haulage and Specialised Freight Group

3 October 2018
Company Announcement

330 Devon St East, New Plymouth
NEW ZEALAND WIDE | NATIONAL & INTERNATIONAL FREIGHT AND LOGISTICS

TIL ACQUIRES NEW BUSINESSES, EXPANDS HEAVY HAULAGE AND
SPECIALISED FREIGHT OFFERING

New Zealand freight and logistics company, TIL Logistics Group Limited (NZX: TLL), has expanded
its customer offer with the acquisition of Specialised Lifting and Transport Group (SLTG),
comprising a group of leading New Zealand businesses providing heavy haulage and specialised
freight services – Tranzcarr Heavy Haulage, Machinery Movers and Huge Movers.

Tranzcarr Heavy Haulage specialises in the movement of heavy and over-dimensional items
throughout New Zealand and overseas and complements TIL Logistics’ existing heavy haulage
business, Multi-Trans Heavyhaul. The acquisition enhances TIL Logistics’ position as a leading
heavy haul transport provider in New Zealand.

Machinery Movers provides entry into a new sector for the company. It specialises in the
extraction, transportation and installation of large machinery, and operates the country’s most
comprehensive fleet of general and specialised trucks and trailers, custom lifting gear and
associated equipment including the largest and most diversified fleet of specialised trailers to
cater for the construction industry.

Huge Movers provides advisory services on the moving and transportation of large items.

TIL Logistics is now well placed as a strong New Zealand competitor to Australian businesses
currently quoting for heavy haulage and specialised transport and lifting jobs in this country.

CEO of TIL Logistics Group, Alan Pearson, said: “We are very pleased with this recent acquisition
which offers a number of meaningful synergies, expands our network and allows us to offer our
customers a broader range of services. Heavy haulage is very specialised work, both in terms of
equipment and people. The acquired businesses are currently generating around $15 million in
annualised revenues and we expect the acquisition to be immediately earnings per share (EPS)
accretive.

“The New Zealand freight industry remains highly fragmented and TIL is well positioned to lead
future industry consolidation. We have a very disciplined approach to acquisitions, which must
meet strict criteria and demonstrate the ability to add considerable long term value.”

The agreement to acquire Specialised Lifting and Transport Group (SLTG), is unconditional and
settlement is expected to occur by the end of October 2018. Of the $19 million purchase price,
$15 million (less employee liabilities being assumed by TIL Logistics) will be paid in cash funded
through existing facilities with ASB Bank, and the remaining $4 million through the issue of new
TIL Logistics shares at an issue price of $1.50 per share.

ENDS

For further information and media assistance, please contact:

Alan Pearson
Chief Executive Officer
Phone: +64 6 7559457
Email: alan.pearson@til.kiwi

Jackie Ellis
Media Liaison
Phone: + 64 27 246 2505
Email: jackie@ellisandco.co.nz

About TIL Logistics Group Limited (TLL)

TLL is one of the largest domestic freight and logistics businesses in New Zealand, with a
nationwide network of branches, depots and warehouses. TLL’s activities include transporting and
warehousing freight throughout New Zealand and co-ordinating freight movements offshore with
the assistance of international alliances. TLL also has a specialist road tanker division which is one
of the largest operators in the New Zealand fuel delivery market.