Status of Essential Businesses, Withdrawal of Guidance

26 March 2020
Company Announcement

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

TIL Advises Status of Essential Businesses, Withdraws Guidance

• TIL advises that a number of its businesses are considered to be essential businesses and
will continue operating.
• Given the likely impact from COVID-19 on the business, FY20 earnings guidance has been
withdrawn.
• TIL has been engaging with its banking partner as the situation unfolds to ensure liquidity.

Following the decision by the New Zealand Government to move the country to COVID-19 Alert
Level 4 from 25 March 2020, TIL Logistics Group advises that a number of its businesses are
considered to be essential businesses and will continue operating.

In particular, TIL’s freighting, logistics and fuel haul businesses will continue providing their
services to ensure that essentials such as food, beverage, medical and pharmaceutical supplies,
fuel and other key consumer goods continue to be delivered to support the country at this time.
The Specialised Lifting and Transport Group will suspend business other than in relation to specific
work related to critical infrastructure.

Since TIL announced its first-half results in February, the Company’s businesses have continued to
trade largely in line with expectations. However, it is now clear that COVID-19 and the significant
escalation of Government protection measures will have a material impact on many of TIL’s
customers, and flow on effects for TIL’s operations and earnings. This is despite some of the
businesses continuing to operate through the period as essential services. For that reason, the
Board is withdrawing its earlier earnings guidance for the FY20 financial year.

TIL has been engaging with its banking partner to ensure that it maintains the liquidity to trade
through this period.

CEO of TIL, Alan Pearson, said: “This is an unprecedented situation for New Zealand and we are
committed to doing our part to ensure essential goods and products remain available and
accessible during this time.

“Our first priority is to ensure a safe work environment for our people and for those they work
with, and we have detailed health and safety protocols in place. I would like to thank our
employees, contractors and suppliers who are working tirelessly to ensure New Zealand’s critical
supplies continue to be available where needed.”

ENDS

For further information and media assistance, please contact:

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

Lee Banks
Chief Financial Officer
Phone: +64 27 525 2876
Email: lee.banks@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.