SDL 2023 Annual Shareholder Meeting

2023 Annual Meeting Address 19 October 2023

FY2023 Overview
FY2023 was the first full financial year with Patrick Brand as Solution Dynamic’s (SDL) CEO
and produced a further record financial result. It was also the first financial year since
COVID with no border closures. The effects from COVID were still apparent in some parts
of the the business during FY2023, notably in international operations and the impact of
physical mail volumes broadly as postal organisations globally continued to significantly hike
postage rates. Postage cost pressure plays to SDL “digital transformation” sales strategy,
although the gross profit SDL earns on a digital communication is significantly lower than on
a comparable print communication.
A renewed focus on new business activity in New Zealand late in FY2022, following staff
changes and a restructured sales team, delivered solid domestic growth over FY2023
despite very challenging conditions for the overall print and mailhouse market. These wins
in New Zealand continued across FY2023, especially in the local authority sector where SDL
has gained market share. International operations were more difficult, with SDL no longer
participating in lower margin, commoditised activity. International sales have refocused on
segments where the Company has competitive advantage, such as cross-border mail or
domain knowledge such as in the global charity sector.
International revenue was modestly down, especially from ongoing weakness in US
mortgage-related communications as higher interest rates further depressed housing finance
activity, although this now seems to be finding a base, albeit at historically low volume levels.
Volumes in the UK continued to steadily recover over the year but remain below pre-COVID
levels.
The Company renovated its Auckland premises in H1 FY2023 and this assisted in improved
return-to-office staff levels. COVID did not affect operations in FY2023. While the pandemic
was a factor in skill and salary pressure across the technology sector over the last couple of
years, this pressure had largely abated by financial year end.
SDL closed the year with net cash on hand at $6.6 million (approximately 45 cents per
share). The Directors continue to maintain a preference for acquisition opportunities, most
likely aimed at delivering product or geographic expansion and remain conscious that any
transaction must add value to shareholders, with manageable financial and operational risks.
SDL secured an International Growth Fund co-funding grant from NZ Trade & Enterprise late
in H1 FY2023. This runs for three years and will reimburse 50% of US market development
costs to a maximum of $0.6 million. A condition of the grant is that SDL’s dividend payout is
capped at 50% (the cap includes distributions such as share buybacks) for the term of the
agreement.

2

FY2023 Financial Results
Despite ongoing headwinds in international activity, SDL generated a record net profit after
tax of $3.4 million, up 34%, and dividends to shareholders totalling 11.5 cents per share
(fully imputed).

Key result metrics ($figures are
’000)
FY23 FY22 Growth Y/Y CAGR (5-
yr)
Total Revenue 40,385 40,127 0.6% 12.2%
Digital Print & Outsourced 11,958 10,324 15.8% -23.3%
Software & Technology 28,427 29,803 -4.6% 36.3%

Gross Profit 15,986 13,941 14.7% 13.7%
Gross Margin 39.6% 34.7%
SG&A expenses 10,274 9,422 9.0% 10.8%

EBITDA
(a)
5,712 4,519 26.4% 20.2%
EBITDA Margin 14.1% 11.3%

Net Profit after Tax 3,425 2,563 33.6% 20.8%

Earnings per share (cents) 23.23 17.41 33.4% 20.5%
Dividends per share (cents) 11.50 13.00 -11.5% 8.9%

(a) EBITDA (i.e. Earnings before Interest, Taxation, Depreciation, Amortisation and Impairment) is a non-GAAP earnings
figure that equity analysts tend to focus on for comparable company performance analysis. The Company considers
that it is a useful financial indicator because it avoids the distortions caused by the differences in amortisation and
impairment policies.


The Company also delivered record revenue of $40.4 million, up 0.6%. International
revenue saw a drop off in low margin activity such as cyber security notices, which had
become increasingly commoditised. This was partly replaced by higher margin international
professional services and SaaS revenue.
While cost pressures continued, especially staff costs, SDL was able to manage staffing
levels and also implement a general price increase across its New Zealand customer base.
The price rise, along with improved revenue mix saw solid improvement in Gross Margin.
SG&A costs were reasonably well controlled given inflationary pressures. EBITDA grew
26% to $5.7 million.
In addition to minor assistance from the NZTE grant, the FY2023 result was assisted by a
modest R&D tax credit gain.
The long-term financial result trends continued their positive trajectory and SDL is pleased to
have delivered record revenue, and profit in FY2023. Success never runs in a straight line
and the global macroeconomic environment is highly uncertain. Strong macroeconomic
headwinds mean the Company has its work cut out in FY2024, but the Board, CEO and all
staff are aligned and focused on continuing to deliver results.

3

Business Strategy
SDL’s strategy remains unchanged; to progressively transform into a global business. The
2018 acquisition of Digital to Print (DTP) in the US was the foundational underpinning for our
international growth strategy. FY2023 confirmed that the Company’s differentiating value
outside of New Zealand is enabling global customer communications as a service, unlocking
significant customer cost savings while improving client engagement. SDL’s international
customers using our global platform are more profitable for the Company, while customers
with a single country solution are generally less profitable and more at risk of insourcing or
switching providers. The favourable mix shift to global customers was a key factor in
FY2023’s significant profit growth, but did increase customer concentration risk. The focus
is to reduce this concentration risk by driving new global business.
This global strategy is driving a focus on key verticals with large-scale, global
communications needs. This includes global charities and NGOs like World Vision, and
most recently L’Arche, and global CCM platform providers such as Pitney Bowes. Global
business process outsourcers have been added as a key vertical market based on a new
contract with EY. SDL continues to refine the segments and applications where the
Company believes it can win. The current international sales focus is on the global charity
sector, plus global print and postage management which is complex and a “pain point” for
organisations that undertake cross border mail.
Leading with digital transformation is not just an international strategy but a key differentiator
in the New Zealand market where NZ Post has implemented several large (20% to 30%
annually) increases in retail postage rates. The mail house market is expected to continue
its decline and likely to consolidate (or some participants may exit) so it was particularly
pleasing to see the New Zealand business generate growth in a declining market. The focus
on new business driven by new talent and leading with “digital transformation” has paid off
and continues to progress. SDL’s software business and strong financial position is well
positioned in the NZ market as a supplier of choice. SDL omni-channel solutions are
supporting our customers total print and digital communications needs.
The Company has redesigned its website to better communicate its strategy and benefits it
can offer, especially to key target market sectors.

Go-to-Market Strategy
Direct face-to-face business to business selling has changed and SDL is increasingly
leveraging digital transformation in our go-to-market channels. Prospects and partner
channels commonly rely on the web to identify and qualify potential suppliers and partners.
SDL recently updated its website to better aligned to the Company’s strategy and target
vertical markets, and is driving digital marketing campaigns both inbound and outbound, with
some early wins. Traditional tradeshows remain an important way of reaching targeted
audiences and SDL is exhibiting at tradeshows like NetHope, an NGO focused technology
conference. Increasing awareness and building trust and confidence in the key target
verticals is foundational to our strategy going forward. Although this has increased our sales
and marketing costs, it is an important long-term investment.

4

Global Customer Communications as a Service
Global customer communications technology delivered as a managed service is at the heart
of what SDL does. Progress has continued to unify the Company’s software products into a
Global Customer Communications Hub. The integration of the “Hub”, SDL’s global postal
management expertise and global service delivery network constitute the Company’s Global
Customer Communications Platform. The SDL “Platform” called DMC (Digital Mail Centre)
leverages a digital workflow approach to ensure the right message gets delivered through
the right channel and from the right location.
Customers are looking for end-to-end solutions covering digital and printed communications
through one platform that operates seamlessly. New capabilities recently added include
“Intelligent QR codes” to drive print customers to the web to view personalized content such
as child sponsorship videos for an NGO customer. User experience improvements include
single sign on across SDL and client applications. DMC was recently launched into the New
Zealand market, leading with “digital transformation” and mobile first communications – this
has driven new business wins with large councils and local government authorities.

Case study: EY (formerly Ernst and Young)
EY is a case study on the value SDL provides in global distributed print in the “Know Your
Customer” (KYC) market. KYC is an important regulatory requirement for most financial
services firms, to reduce the risk of money laundering. Firms are required to validate
customer information regularly and EY is providing KYC services to their marquee global
financial services clients.
SDL and EY are rolling out a KYC solution starting in India and moving to North America and
Europe. For example, by printing in India versus in the UK, postage and logistics costs have
been reduced by over 80% for EY and their client. EY has also determined that response
rates for KYC communications are higher for mail versus digital channels due to identity theft
concerns. The SDL/EY partnership is pursuing futher opportunities to expand.

FY2024 Outlook
New business momentum in New Zealand should deliver additional revenue in FY2024.
However, this will only provide incremental gains for the Company and international sales
success will be required to deliver meaningful growth from this point. The Company’s
international strategy is to utilise channel partners into the small-to-medium sized business
markets and has refocused direct sales into a small number of key verticals such as global
charities and large users of cross-border print and mail.
As previously advised to investors, SDL remains unable to provide FY2024 earnings
guidance. The Company largest customer, a global charity, has indicated it intends to RFP
tender its global communications programme work in early 2024, work that is currently
provided by SDL. The customer has stated it is very satisfied with SDL’s service quality and
that the RFP is part of the customer’s periodic review of its large contracts. This customer is
very material to SDL’s financial results and every effort will be undertaken to ensure the

5

business is retained, although an RFP process will inevitably carry significant risk for the
Company.
The rise in global interest rates has continued in recent months and it is difficult to see how
this will not lead to further global economic slowdown.
SDL is trading broadly in line with internal expectations for the first quarter of FY2024. The
first half FY2024 result will be unaffected by the RFP tender and the Company expects
earnings in the range of $2.0 to $2.3 million.

---

Solution
 
Dynamics
 
Limited
Annual
 
Shareholder
 
Meeting,
 
19
 
October
 
2023
SOLUTION
DYNAMICS
1

SOLUTION
DYNAMICS
This
 
presentation
 
has
 
been
 
prepared
 
by
 
Solution
 
Dynamics
 
Limited
 
(SDL)
 
for
 
informational
 
purposes.
  
This
 
disclaimer
 
applies
 
to
 
this
 
document
 
and
 
the
 
verbal
 
or
 
written
 
comments
 
of
 
any
 
person
 
presenting
 
it.
  
This
 
presentation
 
dated
 
19
 
October
 
2023
 
should
 
be
 
read
 
in
 
conjunction
 
with,
 
and
 
subject
 
to,
 
the
 
explanations
 
and
 
views
 
of
 
future
 
outlook
 
on
 
market
 
conditions,
 
earnings
 
and
 
activities
 
given
 
in
 
the
 
FY2023
 
Annual
 
Report
 
(together
 
with
 
management
 
commentary)
 
published
 
on
 
24
 
August
 
2023.
In
 
parts
 
of
 
this
 
presentation,
 
SDL
 
has
 
presented
 
certain
 
financial
 
information
 
exclusive
 
of
 
the
 
impact
 
of
 
significant
 
items.
 
A
 
number
 
of
 
non
‐
GAAP
 
financial
 
measures
 
are
 
used
 
in
 
this
 
presentation
 
which
 
are
 
used
 
by
 
management
 
to
 
assess
 
the
 
performance
 
of
 
the
 
business
 
and
 
have been
 
derived
 
from
 
SDL’s
 
financial
 
statements
 
for
 
the
 
12
 
months
 
ended
 
30
 
June
 
2023.
  
You
 
should
 
not
 
consider
 
any
 
of
 
these
 
statements
 
in
 
isolation
 
from,
 
or
 
as
 
a
 
substitute
 
for
 
the
 
information
 
provided
 
in
 
the
 
financial
 
statements
 
for
 
the
 
12
 
months
 
ended
 
30
 
June
 
2023.
The
 
information
 
in
 
this
 
presentation
 
has
 
been
 
prepared
 
by
 
SDL
 
with
 
due
 
care
 
and
 
attention,
 
however,
 
neither
 
SDL
 
nor
 
any
 
of
 
its
 
directors,
 
employees,
 
shareholders,
 
nor
 
any
 
other
 
person
 
gives
 
any
 
representations
 
or
 
warranties
 
(either
 
express
 
or
 
implied)
 
as
 
to
 
the
 
accuracy
 
or
 
completeness
 
of
 
the
 
information
 
and
 
to
 
the
 
maximum
 
extent
 
permitted
 
by
 
law,
 
no
 
such
 
person
 
shall
 
have
 
any
 
liability
 
whatsoever
 
to
 
any
 
person
 
for
 
any
 
loss
 
(including,
 
without
 
limitation,
 
arising
 
from
 
any
 
fault
 
or
 
negligence)
 
arising
 
from
 
this
 
presentation
 
or
 
any
 
information supplied
 
in
 
connection
 
with
 
it.
This
 
presentation
 
may
 
contain
 
forward
‐
looking
 
statements,
 
that
 
is
 
statements
 
related
 
to
 
future,
 
not
 
past,
 
events
 
or
 
other
 
matters.
  
Forward
‐
looking
 
statements
 
may
 
include
 
statements
 
regarding
 
our
 
intent,
 
belief
 
or
 
current
 
expectations
 
in
 
connection
 
with
 
our
 
future
 
operating
 
or
 
financial
 
performance,
 
or
 
market
 
conditions.
  
Such
 
forward
‐
looking
 
statements
 
are
 
based
 
on
 
current
 
expectations,
 
estimates
 
and
 
assumptions and
 
are
 
subject
 
to
 
a
 
number
 
of
 
risks
 
and
 
uncertainties,
 
including
 
material
 
adverse
 
events,
 
significant
 
one
‐
off
 
expenses
 
and
 
other
 
unforeseeable
 
circumstances.
  
There
 
is
 
no
 
assurance
 
that
 
results
 
contemplated
 
in
 
any
 
of
 
these
 
projections
 
and
 
forward
 
looking
 
statements
 
will
 
be
 
realised.
 
Actual
 
results
 
may
 
differ
 
materially
 
from
 
those
 
projected.
  
Except
 
as
 
required
 
by
 
law,
 
or
 
the
 
NZX
 
Listing
 
Rules,
 
no
 
person
 
is
 
under
 
any
 
obligation
 
to
 
update
 
this
 
presentation
 
at
 
any
 
time
 
after
 
its
 
release
 
or
 
to
 
provide
 
further
 
information
 
about
 
SDL
.
The
 
information
 
in
 
this
 
presentation
 
does
 
not
 
constitute
 
financial
 
product,
 
legal,
 
financial,
 
investment,
 
tax
 
or
 
any
 
other
 
advice
 
or
 
a
 
recommendation.
Important Information and Disclaimer
2

SOLUTION
DYNAMICS
•
Meeting
 
open:
 
Voting
 
and
 
Questions
 
procedure
•
FY2023
 
overview
•
FY2023
 
key
 
result
 
metrics
•
Business
 
commentary:
•
Vertical
 
market
 
focus
•
Go
‐
to
‐
market
 
strategy
•
Software
 
&
 
Technology
 
strategy
•
EY
 
case
 
study
•
Strategy
 
and
 
FY2024
 
Outlook
•
Formal
 
business
 
of
 
the
 
meeting,
 
including
 
resolutions:
•
to
 
fix
 
Auditor’s
 
remuneration
•
to
 
re
‐
elect
 
John
 
McMahon
•
General
 
business
 
and
 
Questions
Agenda
3

SOLUTION
DYNAMICS
Online Attendees: Voting Process
4
•
Once
 
the
 
voting
 
has
 
been opened,
 
the
 
vote
 
process
 
will
 
be
 
accessible
 
by
 
clicking
 
on
 
the
 
‘Vote’
 
tab.
•
To
 
vote
 
simply
 
select
 
your
 
voting
direction
 
from
 
the
 
options
 
shown
 
on
 
the
 
screen.
•
Your
 
vote
 
has
 
been
 
cast
 
when
 
the
 
tick
 
appears.
•
To
 
change
 
your
 
vote,
 
select
 
‘Change
 
your
 
Vote’.

SOLUTION
DYNAMICS
Online Attendees: Questions Process
5
•
If
 
you
 
have
 
a
 
question
 
to
 
submit
 
during
 
the
 
meeting,
 
select
 
the
 
Q&A
 
tab.
•
Type
 
your
 
question
 
and
 
press
 
‘Send’.
  
Your
 
question
 
will
 
be
 
immediately
 
submitted.
•
You
 
can
 
submit
 
a
 
question
 
at
 
any
 
time
 
but
 
it
 
may
 
not
 
be
 
answered
 
until
 
the
 
appropriate
 
point
 
in
 
the
 
meeting.
  
Similar
 
questions
 
will
 
be
 
answered
 
together.
•
The
 
Q&A
 
tab
 
may
 
also
 
be
 
used
 
for
 
help.
  
Please
 
submit
 
your
 
query
 
or
 
problem
 
the
 
same
 
way
 
as
 
typing
 
a
 
question.

SOLUTION
DYNAMICS
FY2023 Overview
6
•
First
 
full
 
year
 
with
 
Patrick
 
Brand
 
as
 
CEO;
 
pleased
 
to
 
report
 
record
 
earnings
•
no
 
COVID
 
constraints,
 
but
 
some
 
after
‐
effects
 
(labour
 
cost
 
pressure,
 
rapid
 
hikes
 
in
 
global
 
postage
 
rates)
•
Ongoing
 
business
 
and
 
earnings
 
momentum;
 
differing
 
NZ
 
and
 
International
 
performance
•
domestic
 
NZ
 
mailhouse
 
market
 
difficult,
 
but
 
strong
 
market
 
share
 
gains
 
saw
 
modest
 
volume
 
growth
•
international,
 
recovery
 
towards
 
pre
‐
COVID
 
volumes
 
in
 
UK,
 
but
 
US
 
difficult
 
(esp.
 
mortgage
 
market)
•
International
 
refocused
 
on
 
specific
 
verticals
 
where
 
SDL’s
 
IP/technology
 
better
 
differentiates
•
customer
 
pain
 
points
 
such
 
as
 
cross
‐
border
 
mail;
 
target
 
sectors
 
such
 
as
 
the
 
global
 
charity
 
market
•
Conservative
 
balance
 
sheet
 
($6.6
 
million,
 
~45cps)
 
with
 
a
 
cautious
 
approach
 
to
 
acquisitions
•
more
 
difficult
 
macroeconomic
 
environment
 
may
 
throw
 
up
 
acquisition
 
opportunities
•
NZTE
 
market
 
development
 
grant
 
of
 
$0.6m
 
co
‐
funding
 
of
 
costs
 
over
 
three
 
years
•
constrains
 
shareholder
 
distributions
 
(dividends,
 
buybacks)
 
to
 
50%
 
of
 
net
 
profit
 
for
 
the
 
grant
 
period

SOLUTION
DYNAMICS
FY2023 Overview: Key result metrics
7
Five
‐
Yr CAGR
Growth Y/Y
FY22
FY23
Financial
 
Metrics
  
($000)
12.2%
0.6%
40,127
40,385
Total Revenue
‐
23.3%
15.8%
10,324
11,958
Digital
 
Print
 
&
 
Outsourced
36.3%
‐
4.6%
29,803
28,427
Software
 
&
 
Technology
13.7%
14.7%
13,941
15,986
Gross
 
Profit
34.7%
39.6%
Gross
 
Margin
10.8%
9.0%
9,422
10,274
SG&A
 
expenses
20.2%
26.4%
4,519
5,712
EBITDA
 
(a)
11.3%
14.1%
EBITDA
 
Margin
20.8%
33.6%
2,563
3,425
Net
 
Profit
 
after
 
Tax
20.5%
33.4%
17.4
23.2
Earnings
 
per
 
share
 
(cents)
8.9%
‐
11.5%
13.0
11.5
Dividends
 
per
 
share
 
(cents)
(a) EBITDA
 
is
 
a
 
non
‐
GAAP
 
earnings
 
figure
 
that
 
equity
 
analysts
 
tend
 
to
 
focus
 
on
 
for
 
comparable
 
company
 
performance
 
analysis.
 
The
 
Company
 
considers
 
that
 
it
 
is
 
a
 
useful
 
financial
 
indicator
 
because
 
it
 
avoids
 
the
 
distortions
 
caused
 
by
 
the
 
differences
 
in
 
amortisation
 
and
 
impairment
 
policies.

SOLUTION
DYNAMICS
Business Strategy: Vertical market focus
8
•
Leveraging
 
global
 
advantages
 
in
 
key
 
vertical
 
markets
•
Global
 
charities
 
and
 
NGOs
•
Global
 
business
 
process
 
outsourcers
•
Global
 
communications
 
platforms
•
NZ
  
councils
 
and
 
government

SOLUTION
DYNAMICS
Go-To-Market Strategy
9
•
Modernising
 
go
‐
to
‐
market
 
to
 
drive
 
awareness
 
and
 
leads
•
New
 
website
•
Digital
 
marketing
•
tradeshows

SOLUTION
DYNAMICS
10
Significant
 
progress
 
integrating
 
solutions
 
into
 
Global
 
Customer
 
Communications
 
Hub
Complete
 
omni
‐
channel
 
cloud
 
solution
 
connected
 
to
 
global
 
digital
 
workflow/network
•
Moving
 
from
 
“bespoke”
 
solutions
 
to
 
integrated
 
and
 
configured
 
platforms
•
Integration
 
of
 
Jupiter
 
digital
 
workflow
 
with
 
DMC
•
Integration
 
of
 
digital
 
channels
 
with
 
print
 
delivers
 
“omni
‐
channel”
 
experience
•
One
 
integrated
 
user
 
experience
 
with
 
single
 
sign
‐
on
 
(SSO)
•
One
 
client
 
portal
 
to
 
access
 
range
 
of
 
SDL
 
software
 
solutions
•
Single
 
dashboard
 
of
 
global
 
campaign
 
status
•
Intelligent
 
QR
 
code
 
integration
 
drives
 
clients
 
to
 
personalized
 
web
 
content
•
Cloud
 
solution
 
hosted
 
on
 
AWS
 
•
Data
 
security
 
reviews,
 
encryption
 
security
 
and
 
pen
 
tests
 
routinely
Software and Technology Strategy

SOLUTION
DYNAMICS
EY Case Study
11
•
EY
 
(formerly
 
Ernst
 
and
 
Young)
 
partners
 
with
 
SDL
 
globally
•
Selected
 
SDL
 
as
 
global
 
partner
 
for
 
“Know
 
Your
 
Customer”
 
communications
•
SDL
 
is
 
supporting
 
EY
 
with
 
their
 
client,
 
a
 
marquee
 
global
 
financial
 
services
 
firm
•
KYC
 
mail
 
campaigns
 
have
 
higher
 
response
 
rates
 
than
 
digital
 
channels
•
Enabled
 
printing
 
directly
 
in
 
destination
 
country,
 
India,
versus
 
centrally
 
in
 
UK,
 
saving
 
over
 
80%
 
on
 
postage
•
Project
 
started
 
in
 
second
 
half
 
FY2023
 
and
 
expected
 
to
rollout
 
to
 
North
 
America
 
and
 
Europe
 
over
 
FY2024
•
Working
 
with
 
EY
 
to
 
expand
 
to
 
other
 
clients

SOLUTION
DYNAMICS
Strategy and FY2024 Outlook
12
•
Step
 
change
 
growth
 
requires
 
development
 
of
 
SDL’s
 
international
 
software
 
&
 
technology
 
business
•
sales
 
model
 
in
 
the
 
US
 
is
 
focused
 
on
 
channels
 
(e.g.
 
Pitney
 
Bowes)
•
direct
 
sales
 
aimed
 
at
 
key
 
vertical
 
markets
 
such
 
as
 
global
 
charities
 
and
 
specific
 
domains
•
restructured
 
global
 
sales
 
function,
 
activity
 
levels
 
already
 
improving
 
but
 
slow
 
sales
 
cycles
•
Key
 
risks
 
remain
 
global
 
macroeconomic
 
slowdown
 
and
 
accelerating
 
move
 
from
 
physical
 
mail
•
SDL’s
 
largest
 
customer
 
intends
 
to
 
tender
 
(RFP)
 
its
 
global
 
communications
 
activity
•
not
 
a
 
question
 
around
 
SDL’s
 
performance
 
(very
 
well
 
rated)
 
but
 
usual
 
large
 
organisation
 
re
‐
tendering
•
this
 
customer
 
is
 
very
 
material
 
to
 
SDL’s
 
financial
 
performance
•
Board
 
remains
 
conscious
 
of
 
recent
 
share
 
price
 
move
 
and
 
broader
 
problem
 
of
 
small
 
cap
 
illiquidity
•
Providing
 
H1
 
FY2024
 
earnings
 
guidance
 
in
 
range
 
of
 
$2.0
 
to
 
$2.3
 
million
 
(H1
 
FY2023:
 
$2.5
 
million)
•
NZ
 
operations
 
running
 
strongly
 
on
 
new
 
business
 
gains,
 
some
 
cost
 
pressues
 
not
 
fully
 
recovered
 
and
 
international
 
new
 
business
 
yet
 
to
 
regain
 
traction
•
no
 
full
 
year
 
FY2024
 
guidance
 
until
 
largest
 
customer
 
RFP
 
outcome
 
is
 
known
 
(H1
 
FY2024
 
not
 
affected)

SOLUTION
DYNAMICS
Question time
13
Questions?

SOLUTION
DYNAMICS
Formal Business of the M
eeting: Voting Procedure
14
•
Voting
 
will
 
be
 
by
 
way
 
of
 
poll
 
and
 
though
 
proxy
 
submission
•
votes
 
will
 
be
 
counted
 
by
 
Computershare
 
and
 
the
 
results
 
then
 
released
 
on
 
NZX
•
you
 
must
 
have
 
logged
 
on
 
to
 
this
 
meeting
 
using
 
the
 
details
 
you
 
received
 
in
 
the
 
Notice
 
of
 
Meeting
 
to
 
be
 
eligible
 
to
 
vote
•
How
 
to
 
vote
 
reminder
•
if
 
you
 
are
 
eligible
 
a
  
‘Vote’
 
tab
 
will
 
show
 
on
 
your
 
screen;
 
click
 
on
 
the
 
tab
 
icon
 
to
 
vote
•
the
 
resolutions
 
will
 
appear
 
along
 
with
 
voting
 
options
•
simply
 
select
 
the
 
voting
 
direction
 
from
 
the
 
options
 
shown
 
on
 
the
 
screen
•
your
 
vote
 
has
 
been
 
cast
 
when
 
the
 
tick
 
appears
•
you
 
can
 
change
 
your
 
vote
 
any
 
time
 
until
 
the
 
meeting
 
ends
 
by
 
selecting
 
‘Change
 
your
 
vote’.

SOLUTION
DYNAMICS
Formal Business of the
Meeting: Resolutions
15
•
Resolution
 
1:
 
Auditor
 
remuneration
•
That
 
the
 
Board
 
be
 
authorised to
 
fix
 
the
 
remuneration
 
of
 
the
 
Company’s
 
auditors
 
for
 
the
 
FY2024
 
year
•
Resolution
 
2:
 
Re
‐
election
 
of
 
John
 
McMahon
•
To
 
re
‐
elect
 
John
 
McMahon
 
as
 
a
 
director
 
of
 
Solution
 
Dynamics
 
Limited

SOLUTION
DYNAMICS
General business and Questions
16
•
Any
 
remaining
 
general
 
business
 
or
 
questions
 
from
 
shareholders?
•
Meeting
 
formally
 
closes
Thank
 
you
 
for
 
attending