MOVE 2023 ASM Presentation and Speeches

MOVE LOGISTICS GROUP LIMITED
2023 ANNUAL MEETING
25 October 2023

2023 Annual Meeting2
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CHAIR
LORRAINE
WITTEN
3

Voting Card
Question box
VOTING AND ASKING QUESTIONS
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AGENDA
•Chair and CEO Presentations
•Shareholder Discussion
•Resolutions
•General Business
•Close of the Meeting
5

BOARD
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Lorraine Witten
Chair
Chris Dunphy
Non-independent Director
Julia Raue
Independent Director
Standing for Election
Danny Chan
Independent Director
Retiring at ASM
Mark Newman
Independent Director
Grant Devonport
Independent Director

INTRODUCING CRAIG EVANS
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Commenced as MOVE CEO in February 2023
Extensive industry experience: 35 years with Mainfreight. Prior to
that, four years with Freightways
Leadership: From branch level to national management. Six-plus years
as Mainfreight New Zealand Country Manager
Based in Christchurch, travels the network extensively

STRONG LEADERSHIP TEAM
Leading our pathway to success
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Craig Evans
CEO
Appointed Feb 2023
Lee Banks
CFO
Appointed Jul 2013
Dale Slade
GM Oceans
Appointed May 2020
Justin Marshall
National Freight Manager
Appointed Mar 2022
James Watters
COO Contract Logistics
Appointed Nov 2021
Anthony Barrett
CIO
Appointed Apr 2022
Rachel Hustler
GM People & Culture
Appointed Jul 2023
Warwick Bell
GM Specialist Lifting
Appointed Dec 2018
Ricky Clark
National Sales Manger
Appointed Oct 2023

GOVERNANCE MATTERS
•Focus on MOVE’s performance in a challenging operating environment
•Appointment of new CEO, strategy review and implementation of Project
Blueprint
•Resilience and risk management, with continued focus on ESG and Health &
Safety
•Capital investment into growth initiatives, fleet and technology
•Conversion of Convertible Note and reduction in debt
•Development of company-wide cash profit sharing scheme
•Board succession planning
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FY24 TO DATE
Trading conditions:
•1H operating conditions have been tougher and for longer than anticipated - high
inflation and interest rates dampening customer demand, and increased
competitive pricing pressure
Management and Board focus:
•Adding value to our customers to grow revenue
•Improving margin
•Strengthening each division

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CHIEF
EXECUTIVE
OFFICER
CRAIG EVANS
11

OUR BUSINESS
We are one of New
Zealand’s largest
transport and logistics
providers
•National network with
regional strength
•41 branches, depots,
crossdocks, warehouses
and offices across New
Zealand
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OUR VISION
To be the preferred
freight and logistics
company in
Australasia

STRATEGY FOR GROWTH
142023 Annual Meeting
Our Vision: To be the
preferred freight and
logistics provider in
Australasia
Our Mission: To keep our
customers moving
Our Mantra: Customer,
Safety, Team

INCOME
$347.7m
FY22: $364.0m
EBITDA
Normalised
1
$47.4m
FY22: $56.2m
EBIT
Normalised
1
$3.9m
FY22: $11.5m
NLAT
2
$(7.2)m
FY22: $(4.2)m
LTIFR
14.72
FY22: 15.81
CAPEX
$19.5m
FY22: $5.7m
GEARING
17.2%
FY22: 22.3%
FREE
CASHFLOW
$35.4m
FY22: $45.1m
FY23 PERFORMANCE SNAPSHOT
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1.NormalisedEBITDA and NormalisedEBIT exclude non-controlling interest and non-trading adjustments of $1.7m pre-tax related to asset impairment &
restructuring the business (FY22: $3.4m). FY23 EBITDA before non-trading was $45.7m.
2.Attributable to owners of the company
FY22 restated to include Specialist division following decision to retain the business
Softer result in face of headwinds,
ongoing Freight improvement
programme and as the business is
reshaped to support growth
•Moderating consumer demand
in response to economic
conditions
•Impact of weather events on
customer activity and operations
•Investment in future growth
initiatives
•Soft result from Freight business
driven by customer contraction -
improvement programme
ongoing

FY23 BUSINESS PERFORMANCE
Sales
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EBITDA
Freight and Contract
Logistics are the primary
contributors to group
revenue and EBITDA
International and Specialist
are smaller services with
growth opportunities

UPDATE ON KEY STRATEGIC PRIORITIES
4Q23: Commenced Project Blueprint to reshape & strengthen the business, and drive organic growth
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WORK OUR ASSETS SMARTERBUILD OUR MULTI-MODAL OFFERDELIVER FOR OUR CUSTOMERS
•Continuation of the Freight
improvement programme
•Accelerated the fleet replacement
programme
•Digital transformation continuing with
ongoing development of new
transport management system
•Implementation of new HRsoftware in
progress
•Investment in new digital hardware
•Increased collaboration across the
group to create a one stop shop for
end to end supply chain solutions
•Moving from silo to group mentality
•Building internal economies and
synergies
•Launch of pilot of trans-Tasman
shipping service
•Increasing market share as customers
look for provider value
•Accelerated the rebranding
programmeto build awareness of our
unified offer
•Significant new customer partnerships
in Contract Logistics including renewal
of Z Energy agreement
•Focus on higher value, higher margin
business
UPSIZE OUR BUSINESSTAKING CARE OF WHAT MATTERSSTRONG LEADERSHIP
•Specialist division welcomed back into
the Group following review
•Investing in and expanding core
competencies to drive organic growth
•Priority focus on health & safety,
people and culture –continuing
improvement in safety metrics
•Well progressed towards CRD
reporting in FY24
•Appointment of Craig Evans as CEO
from 1 February 2023
•New leadership of Freight business
•New GM People & Culture from July 23
•New National Sales Manager from
October 23

SUSTAINABILITY
People, communities, environment
0
10
20
30
40
50
60
70
LTIFRTRIFR
Key safety indicators continue to
improve
FY20: FY23
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•Appointed a Group Sustainability Lead in July
2022
•Monthly and annual safety awards
•Commitment through the business to
decarbonisation – 3% YOY reduction in total
gross emissions to 146k tonnes (includes full
scope 3)
•Progressed multi-modal strategy to reduce
number of trucks on the road through use of
coastal shipping and rail
•Technology driving improvements in driver
behaviour, fuel consumption and route
optimisation
•Significant work done towards Climate Related
reporting in FY24
•Appointment of GM People & Culture from
1 July 2023

VIDEO – FOCUS ON PEOPLE & CULTURE
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RESHAPE AND STRENGTHEN THE BUSINESS
Immediate benefit
•Comprehensive review of operating costs
and structure
•Remove cost from the organisation
•Maximise performance, productivity and
utilisation
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PROJECT BLUEPRINT
DRIVE ORGANIC GROWTH
Short to medium term benefit
•Investment in sales resource
•Careful customer acquisition
•Focus on building base volumes while
allowing capacity for higher margin business
•Primary focus on organic growth and
collaboration across the industry
PRIORITIES
12 – 18 month dual pathway programme to reshape and strengthen the business, and drive
organic growth

PROJECT BLUEPRINT GREENSHOOTS
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We have identified what needs to be done across the business to achieve success and have a clear plan in place.
Early benefits are being seen from the work underway.
BETTER, STRONGER
BUSINESS
✓
Creating higher levels of accountability and measurability across the business, particularly at
regional branch level
✓
FuseIT being developed with rollout targeted for completion in 1H CY2024
✓
Implementing robust processes and operational disciplines
✓
Priority focus on productivity and utilisation
✓
Standardisation of rates, operating costs and processes across the different Freight businesses
SMART GROWTH &
EXPANSION
✓
Increasing awareness of MOVE’s end to end supply chain solution – more customer enquiries
and invitations to tender
✓
Transition to a sales-led organisation including appointment of a new National Sales manager
and investment into an expanded sales team
TAKING CARE OF
WHAT MATTERS
✓
Established a strong leadership team with the right people in the right roles
✓
Engaging with our people and taking them on the journey
✓
Attracting and developing our pool of quality people – new GM P&C; development of Graduate
Programme
✓
Sense of excitement across the organisation

FREIGHT
Strong foundations - one of the largest freight
networks in New Zealand
Improvement programme remains underway
•New leadership from 2H23
•Restructure into clear LCL and FTL services -LCL
provides the most opportunity for MOVE
•Rebuild in activity is key focus
•Investment in business –technology, people and
branding
Key opportunity to drive revenue and profit for MOVE
over the long term
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CONTRACT LOGISTICS
Strong customer relationships and improved
utilisationof assets
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Warehousing capacityat high levels with strong customer
renewal rates and new customer activity
•Renewal of Z Energy long term agreement in FY23
•Investment into new trucks and trailers, and exploration
of sector-specific opportunities
•Continuing focus on utilisationof capacity and getting the
most out of the assets we own
•Some softening anticipated as customer activity slows in
response to economic conditions

INTERNATIONAL
Pilot of new trans-Tasman shipping service,
extending MOVE’s end to end supply chain solution
•Slowdown in freight forwarding services in response to
economic climate
•Pilot of trans-Tasman service:
•Provides an additional revenue stream as well as an add-on for our
supply chain offer
•Acquisition of new vessel and start-up of trans-Tasman shipping
service in January 2023
•Commenced consistent scheduling of services in June 2023
•Mechanical failure in August 2023 currently being remedied –
insurance to cover significant portion of cost, charter vessel to
ensure continuity of service
•Withdrawal of proposed NZ coastal service due to
vessel design limitations to meet essential
requirements
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SPECIALIST
High performing business, delivering strong margins
•Strong pipeline of work in place
•Can besubject to time delays due to weather events
and project timelines
Opportunities:
oGrow existing market share
oExpand into other sectors and regions
oSynergy across MOVE’s customer base
oNZ infrastructure rebuild activity following
weather events
oLarge projects in areas where MOVE has expertise
egalternative energy projects, commercial
construction
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VIDEO – OUR SPECIALIST BUSINESS
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LOOKING AHEAD
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Market outlook:
•Measurable downtrading for some customers in first
quarter due to economic conditions, and election
year uncertainty
•Increased market competition has emerged as the
economy continues to tighten
•Inflationary pressures expected to continue
Business Outlook:
•Freight improvement programmeremains in progress,
some softening in Contract Logistics expected in
response to economic conditions
•Focus on Project Blueprint -embedding change,
improving productivity, driving revenue and delivering
customer service excellence
•Opportunity to build market share as customers
consider alternatives
RESILIENCE
•Robust Freight, Fuel and Warehouse networks,
providing customers with certainty despite
weather events
•Ability to mobilise a large fleet enables MOVE
to work around network outages, such as
derailments and line closure
•Strong investment in technology
•Diversified across customers and sectors
•Refreshed leadership team and Board with
significant industry experience and expertise

SHAREHOLDER DISCUSSION
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RESOLUTIONS
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RESOLUTIONS
RESOLUTION 1:
To record the re-appointment of PricewaterhouseCoopers as the Company’s auditor
and to authorisethe Directors to fix the auditor’s remuneration for the ensuring year
RESOLUTION 2:
That Julia Raue, who was appointed by the Board during the year, be elected as a
Director of the Company
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2023 Annual Meeting

OTHER BUSINESS
CLOSE OF THE
MEETING

32
APPENDICES
2023 Annual Meeting

Non-GAAP Reconciliation
$MillionsFY23FY22
Net profit/(loss) before income tax (GAAP measure)(7.59)(3.21)
Add back:
Share of loss of associates.07.10
Net finance costs9.6611.18
Loss in investment in associates-.06
Restructuring costs.591.63
Share acquisition costs.11.14
Goodwill and asset impairment1.031.62
Depreciation & Amortisation43.4844.67
EBITDA excluding non-trading items (non-GAAP measure)47.3556.19
Net profit/(loss) after income tax (GAAP measure)
attributable to owners
(7.19)(4.21)
Add back:
Non-controlling interests1.351.10
Other non-trading expenses, net of tax:
Goodwill and asset impairment1.031.62
Restructuring costs.431.18
Share acquisition costs.11.14
Net profit/(loss) after tax excluding non-trading items
(non-GAAP measure)
(4.27)(.17)
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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.
Glossary:
•EBITDA: Earnings before interest, tax, depreciation,
amortisation excluding income and impairment from
associates
•Normalised EBITDA: EBITDA before non trading costs
•Normalised EBIT: Normalised 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
•LTIFR: Lost time injury frequency rate
•TRIFR: Total recordable injury frequency rate

Disclaimer
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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.

MOVE 2023 ANNUAL MEETING OF SHAREHOLDERS
25 October 2025

Board of Directors
Our Board is made up of five independent Directors and one non-independent.
We are very pleased to welcome a new independent Director to the Board this year, Julia Raue. Julia
is standing for election later in the meeting and fills the vacancy created when Peter Dryden retired
from the Board at our last shareholders’ meeting.
Julia has a strong background in business transformation and digital change, which is of significant
value as MOVE continues its digital journey. She also has deep experience in retail and service
industries having worked for Air New Zealand, and as a Director on Southern Cross, The Warehouse
Group, Z Energy and TVNZ. She has already become a valued contributor to our discussions.
You will have an opportunity to hear from her later in the meeting.
Also here today are Chris Dunphy, Mark Newman who chairs our Remuneration Committee and
Grant Devonport who chairs our Audit & Risk Committee.
Danny Chan is overseas and participating online.
Danny will be standing down at the end of this meeting. He has been a valued member of the Board
for over five years, joining when MOVE first listed and supporting our journey to becoming a listed
company. I would like to take this opportunity to thank him on behalf of the Board and shareholders,
for his contribution during this time. We have a recruitment process underway to find a replacement
Director for Danny.
We believe your Directors offer valuable and complementary skill sets, a breadth of domestic and
international business experience, and considerable freight and logistics industry experience.
Introducing Craig Evans
I am particularly pleased to introduce Craig Evans, MOVE’s new CEO. Craig joined MOVE in February
this year, and his significant industry expertise and experience have brought a fresh perspective to
our business.
Craig has many years’ experience in the industry with his last role leading the successful Mainfreight
New Zealand business. He is passionate about people and delivering great customer service; he is
thoughtfully strategic and analytically driven by metrics and measures.
He has already infused our organisation with a renewed sense of purpose, positivity and passion.
As you may recall, Chris Dunphy led our company temporarily for 15 months to effect change and
set us on the path to be a fully integrated Logistics service, and to fix our Freight network. It was
always the intention to appoint a permanent CEO from within the sector and I’m thrilled we have
attracted a professional of Craig’s calibre to lead our company forward from here.

MOVE Logistics Group 2023 Annual Meeting

On behalf of the Board, I would like to thank Chris for his leadership in his role as Executive Director.
Chris remains as a shareholder in MOVE and on the Board as a non-independent Director.
Following his appointment, Craig undertook an in-depth business review to confirm what has been
achieved and what was still left to do. This has resulted in a template for our next phase of work
called Project Blueprint. This is an 18 month pathway to drive growth, increase skills, keep a tight
hold of expenses and further strengthen the business. Craig will talk more to this shortly.
Leadership team
We are also joined today by some of MOVE’s leadership team, which has been further strengthened
over the last year, from both within our ranks and by bringing in people with deep industry
knowledge, broad professional experience and role expertise.
Please feel free to approach them after the meeting for a chat. They are a very friendly bunch!
We have a very experienced team of people across the MOVE group and on behalf of the Board, we
would like to acknowledge all they have done for our business over the past year. We know that
change can be challenging and we thank them for their commitment to driving that change and
improving our company.
Governance Matters
Like many companies over the last 18 months, we have been impacted by the global recession, cost
inflation and the unwinding of product stockpiles as the global supply chain returned to normal. We
also faced driver shortages and increasing wage pressure until the restrictive Covid immigration rules
were relaxed. This meant a business climate in FY23 where revenue was muted and expenses rose,
which combined resulted in lower profit. We focused on retaining profitable customers, keeping our
team in place so we could deliver for customers, and reducing costs where possible. At the same
time, we have kept up our investment on those foundational projects important for the future, such
as our investment in digital platforms. Craig will lead us through a more detailed review of the FY23
results.
Making sure we have the right leadership of our company is arguably the most important task of the
Board, and after a thorough, independent process we were delighted to select Craig. He has built a
very capable executive team around himself, also bringing in new leaders in Sales and People &
Culture to strengthen the team.
The health, safety and wellbeing of our people is a priority for the Board and management. In FY23,
we again improved our Health & Safety record, in both the rate of injury, and the time required off
work from injury.
We continue on the journey to improve our sustainability and to reduce our carbon emissions. You
will see that we have included more about our environmental and risk management in the Taking
Care of What Matters section in our Annual Report. We are preparing, and will be ready for, the
mandatory Climate Related Disclosures reporting regime in FY24.
We launched the pilot of our trans-Tasman shipping service during the year. Like most new business
endeavours it has taken a little longer to develop and not all has gone exactly to plan, but we

MOVE Logistics Group 2023 Annual Meeting

continue to see the value in this offering as another revenue stream, and service for our customers,
many of whom do business across the Tasman.
The conversion of the Convertible Note in June 2023 allowed us to significantly reduce debt... a
better position in this current economic cycle. We are tightly managing the cash we have, making
sure we can deliver change but also spend funds wisely.
The Board has not declared a dividend for FY23. We believe that preservation of cash is the
appropriate action to take in the current economic climate and while we continue to invest in
strengthening and growing our business. We continue to actively consider when it is appropriate to
start a dividend again.
As part of our recognition of the contribution our people make to our business, the Board intends to
implement a company-wide cash profit sharing scheme, that aligns incentives for the MOVE team
directly with Company’s financial performance. Craig is a big supporter of this and has surrendered
the 1 million restricted share units (RSUs) he was issued upon commencing his role, to ensure that
his incentives are aligned with those offered to the wider MOVE team. Although that means we
don’t have a share incentive scheme at the moment, we still see there may be value in it in the
future.
Like many of you, we are unhappy with where the share price is today and see our biggest impact
will be by focussing on current financial performance and building the future business. Your Board is
focused on ensuring a long term, sustainable future for MOVE, building a stronger business, as well
as weathering this tough economic cycle and improving our financial returns.
In conclusion, we are making good progress with our strategy, although we have been impacted by
the economic environment and we are progressing more slowly than we had anticipated. However,
we have clarity on our growth plan and the initiatives that will improve our financial performance.
FY24 to date
Looking at FY24 to date, the business environment has been tougher than anticipated and for
longer, with continued inflation and a high interest rate environment dampening down demand for
our services, and driving increasing competitive pricing pressure. In this environment, we are
focused on adding value to our customers to grow our revenue, improving our margins and
strengthening each division.
We are confident we have the right leadership, people and plans in place to achieve our goals.
I would like to pass the meeting over to Craig our CEO, to talk more on FY23 results, our strategy and
our progress.

MOVE Logistics Group 2023 Annual Meeting

CRAIG EVANS, CEO
I’m delighted to be here today talking to shareholders, at my first annual meeting for MOVE. It has
been an interesting first eight months as I have travelled our network, listening to our people, talking
to our customers and understanding the challenges we are facing, but more exciting for us all, the
potential for our business.
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.
Built on a nationwide network of leading regional brands and businesses, we are now emerging as a
one cohesive group.
By leveraging the strength and expertise of each entity within our organisation, we have created an
end to end supply chain solution with capability across a wide range of sectors and industries.
This ability to service customers across New Zealand sets us apart from many other providers who
do not have the same strength, scale, regional or sector presence.
Our Vision
Our vision for MOVE is clear – To be the preferred freight and logistics company in Australasia.
While there is still work to do, every day we are seeing progress towards achieving our goals.
Our Strategy
We continue to steadfastly pursue our strategy, which centres around three core areas – building a
better, stronger business; smart growth and expansion; and taking care of what matters.
More recently, our focus has sharpened on our customers, our offer, our people and driving revenue
and returns.
These priorities reflect our commitment to delivering exceptional value to our customers, nurturing
our talented team, and ensuring the long-term success and prosperity of our company.
Business Performance FY23 Performance Snapshot
Challenging economic conditions, extreme weather events and softening customer demand
following the post-Covid surge in activity all affected our business over FY23.
For MOVE, the extreme weather events saw some of our branches cut off from the network, and
delays in freight movements. I was very proud of our teams, who pulled together to support each
other and their communities during this time.

MOVE Logistics Group 2023 Annual Meeting

FY23 sales revenue of $343.9m and Normalised EBITDA
1
of $47.4m reflected investment in future
growth initiatives, moderating consumer demand in response to economic conditions, the ongoing
Freight improvement programme and weather events.
All businesses, excluding Freight, delivered revenue gains, with Contract Logistics, MOVE’s largest
division, delivering a solid year on year performance, helping to offset a soft result from the Freight
division. A primary driver of the Freight result was the rate realignment to market in FY22, which
resulted in the contraction of our customer base - mainly lower margin clients – as well as the loss of
a customer contract of $11m per annum from December 2022. A key focus for our team is on
rebuilding the customer base for Freight.
Debt was significantly reduced following the conversion of the convertible note in June, and free
cashflow remained strong at $35.4m.
Detailed information on our FY23 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.
FY23 Business Performance
We have four business divisions, with growth strategies in place for all of these. Our two largest
divisions are Freight and Contract Logistics, which underpin our business. In FY23, we welcomed the
Specialist business back into the fold.
Update on key strategic priorities
The initiatives undertaken over the past two years to reset the business, some of which are still in
progress, are creating a step change for this organisation.
We are focused on working our assets smarter and are investing into our fleet and technology. The
digital transformation has stepped up pace, as we continue to develop our new Transport
Management System prior to rollout in 1H 2024. FuseIT offers significant benefits including
improved visibility, better information for our customers, and allows us to make better, faster
decisions, and manage peaks and surges more effectively.
We have also made a sizeable investment in digital hardware that supports our business, such as fit
for purpose scanners.
We are strengthening our multi-modal offer and are looking to collaborate more across our industry,
with the likes of rail. This means working in partnership with best-in-class providers to ensure the
optimal solution for our customers. This will help us grow while preserving our capital.
One of the most important things we are doing is increasing collaboration across our business as we
move from a silo to a group mentality. There is still work to do in this area but we are making rapid
progress.

1
Normalised EBITDA excludes non-trading adjustments of $1.7m pre-tax related to restructuring and resetting the
business as part of the strategic plan. Further details included in appendix to the FY23 Results presentation

MOVE Logistics Group 2023 Annual Meeting

Despite some customer churn, particularly following the Freight rate realignment, pleasingly, we are
also seeing new customer partnerships and renewals.
Having the right people in place to lead our business is essential, and we have made a number of
appointments in recent months with new leadership of our Freight business, a new GM People &
Culture, and a new National Sales Manager who started with us just this month.
Sustainability
We recognise that the effects of what we do every day go beyond our company and impact on our
people, our communities and our environment. We are committed to ensuring that, as much as
possible, these effects are beneficial and sustainable.
While we are at the early stages of our ESG journey, we are making good progress. Our ESG practices
are focused around those areas where we can drive meaningful change.
We acknowledge the urgent need to address climate change and are mindful that, by nature, the
transport industry is a high carbon emitter. Alternative fuels are still some years from being
commercially accessible for the transport industry, and we are therefore looking at other avenues to
reduce our footprint.
We have identified a number of opportunities, from investing in newer, lower emitting trucks
through to route optimisation to reduce empty kms; collection and recycling of waste to electrifying
our forklifts.
We are constantly evaluating and improving our practices and are proactively integrating climate
considerations into our investment decisions.
We will continue to look at other opportunities to reduce our emissions 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.
Health and safety remains a priority and technology plays an important part in this. It is a constant
focus for our team and we were pleased that our safety metrics improved again last year.
MOVE has a team of extraordinary people. We recently appointed Rachel Hustler as our new GM
People & Culture and are building a strategy that will create a unified culture with a high level of
trust and accountability, where people are empowered and believe in our MOVE brand. We are
focused on promoting from within, with the majority of any new leadership roles filled by our own
people by 2026.
We are also looking to introduce School Leaver and Graduate Programmes that will attract young
talents, allowing them to grow and contribute to our organisation. Already it’s been great to
welcome our first two grads, in our marketing team.
I’ll now hand over to Rachel Hustler for a short video from her and her team.
Video – people and culture

MOVE Logistics Group 2023 Annual Meeting

Project Blueprint
We have recently initiated Project Blueprint to direct our efforts across the group. This is a dual
pathway programme that will create a strong launch pad to support our future growth ambitions,
with a more efficient, higher margin business model, that capitalises on MOVE’s strengths.
Our immediate priority is to right size our business. This will provide more immediate financial
benefit for the business and remove cost from our organisation. It involves a comprehensive review
of our operating costs and structure to ensure we are best placed to maximise our performance
while the growth strategy takes hold.
We are also focused on organic growth, through careful customer acquisition and a focus on building
base volumes while allowing capacity for higher margin business. We are investing in sales resource
with a targeted approach to growing MOVE. We will also look to more industry collaboration and
partnerships.
Project Blueprint greenshoots
Initiatives already in play under Project Blueprint are delivering early benefits, including improved
cost disciplines; stronger leadership across the business; and a continuing transition from silo
businesses to a unified group which allows us to better service our customers and enhances our end
to end supply chain solution.
Freight
The Freight improvement programme continues and we are making good progress – however, in
some cases, we are having to go backwards to “unscramble the omelette” before we can move
forwards.
Over the last six months, the focus has been on stabilising the team and focusing on higher margin
business.
The division has been restructured into two clear offers - LCL (less than a container load) and FTL
(full truck load). LCL provides the most opportunity for our business, with higher margins and
increased opportunity for value-add services.
The LCL branch network is very robust, with capacity to take on new business with limited extra cost.
In Napier and Tauranga, we have combined Freight and Contract Logistics onto one site, providing
synergies and cost benefits. This is something we will continue to look at in other cities and regions.
Our priority is on rebuilding activity and we are rightsizing the business for current demand, while
retaining the ability to scale up for anticipated growth. MOVE is seen as a very credible alternative to
other large providers in the market. Our team culture and focus on building relationships with our
customers appeals to businesses looking for a partnership approach and we are winning new
business every week.
This is the division that needs the most work, however over the long term, it offers a key opportunity
to drive revenue and profit for our group. In particular, the increasing unity between our freight and
warehouse teams will continue to strengthen our returns and customer experience.

MOVE Logistics Group 2023 Annual Meeting

Contract Logistics
Contract Logistics provides solutions for large customers and is built on long term relationships. It
comprises our warehousing and fuels assets and works with the other businesses within our group
to provide end to end supply chain solutions.
The focus in FY23 was on utilisation of capacity and getting the most out of the assets which we
already own. This has largely been achieved, with strong warehousing demand and activity despite
the economic conditions.
A highlight for the Fuels business was the renewal of the Z Energy fuel transport and distribution
contract.
While there is still positive momentum, a softer year is expected in FY24 as customer activity slows
in response to economic conditions. Our focus is on efficiency improvement, excellent service
delivery, customer retention and winning new business.
International
While small, MOVE’s International division provides valuable freight forwarding and shipping agency
services through a number of joint ventures and partnerships. In the current economic climate, we
have seen some reduction in demand for these services.
The division is also home to our latest initiative, the pilot of MOVE Oceans trans-Tasman shipping
service.
This commenced in January 2023 and as at end August, we had successfully completed more than
eight round trips between Australia and New Zealand. However, the most recent voyage was
disrupted by mechanical failure with the vessel needing to be towed to Port for repairs. We expect a
significant portion of the cost to be covered by insurance and have chartered a vessel to ensure
service continuity is maintained.
The new trans-Tasman service has provided an additional revenue stream and we are fielding
encouraging enquiry from customers, with the added potential of new business spilling into other
landside services such as freight and warehousing.
We had also been working on the final design of a new build vessel for a proposed alternative sea
freight solution around coastal New Zealand. Essential to this strategy was that the new vessel was
capable of loading and unloading cargo at smaller, regional ports and in a variety of weather and
tidal conditions. Some critical design limitations have been identified and we have now been advised
that a suitable vessel cannot be designed that meets our essential requirements. Accordingly, MOVE
will not be proceeding with construction of the new vessel and will keep MOVE Oceans focussed on
the trans-Tasman service for the short to medium term.
Specialist
The Specialist business comprises Tranzcarr Heavy Haulage and Machinery Movers, both offering
specialised services, with a focus on project work. MOVE’s breadth, scale and expertise in this area is
unsurpassed by any other provider in New Zealand.

MOVE Logistics Group 2023 Annual Meeting

After being severely impacted by Covid-related delays and disruption in FY21/22, projects have been
coming back on stream, however, weather this year has seen some timelines extended further.
Machinery Movers carries large and oversize items and is one of the largest carriers of pre-cast
concrete panels for the construction industry. After a very busy period in FY22 and early FY23,
activity is now slowing, driven by a moderation in apartment buildings under construction in
Auckland at this time.
A substantial pipeline of work is in place, especially in the power generation sector, where Specialist
is recognised as a market leader, with significant expertise.
As part of the Project Blueprint review, we have identified a number of opportunities for this
business to leverage its specialised skills and competence to gain entry into other market sectors
that we don’t currently compete in.
We’re excited to have Specialist back in the fold. Not only are they a great business, but they also
undertake some really interesting work. Here’s a quick look at how they move.
Video - Specialist
Outlook
As expected, the slowing economic conditions have prevailed into FY24, however, they have been
tougher and longer than initially anticipated, leading to measurable downtrading from some of our
customers in the first quarter. In addition, we had the usual slowdown of activity prior to an
election. The Freight improvement programme remains in progress and some softening is expected
in Contract Logistics in FY24 in response to economic conditions.
We remain focused on embedding change, building our market share and improving margins across
all our businesses. The work we have been doing, and continue to do, to strengthen our business
stands us in good stead in the more challenging economic cycle.
We have robust networks, a clear pathway, more professional management of our businesses, good
diversity across sectors and customers and a strong and engaged workforce.
While there is still work to be done to strengthen our business to support growth, we are making
progress. Our team is engaged and excited about our potential and we are united in our pursuit of
quality and success.
I believe wholeheartedly in MOVE’s potential and the ability of our team to achieve our goals.
Ka Kite Ano
ENDS