KMD Brands Limited Annual Shareholders Meeting

KMD BRANDS LIMITED W kmdbrands.com

KMD Brands Limited
ASX / NZX / Media announcement

10 November 2023

KMD Brands Limited – Annual Shareholders’ Meeting
KMD Brands Limited (ASX/NZX: KMD, “KMD Brands”) Annual Shareholders’ Meeting is being held
today, Friday 10
th
November, commencing at 11.00am NZDT / 9.00am AEDT at Link Market Services,
Level 30, PwC Tower, 15 Customs Street West, Auckland 1010.
Shareholders can participate online at www.virtualmeeting.co.nz/kmd23.
The attached presentations and material will be delivered during the meeting:
a) 2023 Annual Shareholders’ Meeting - Chairman’s address
b) 2023 Annual Shareholders’ Meeting - Group CEO's address
c) 2023 Annual Shareholders’ Meeting - Presentation to Shareholders
– ENDS –
For further information, please contact:
Frances Blundell
Company Secretary

---

KMD BRANDS LIMITED W kmdbrands.com

10 November 2023

KMD Brands Limited Annual Shareholder Meeting 2023
Chairman’s Address
I’m pleased to say that 2023 was our first year of uninterrupted trade post-pandemic.

It was a year for KMD Brands to reset, consolidate and set solid foundations that will position the
company and its brands for growth this year and beyond.

FY23 saw the Group come together to ensure collective focus on our strategy. We consolidated
expertise from across our brands; enhancing Group teams in order to speed up delivery of our goals.
We remain relentlessly focused on our four strategic pillars: Building Global Brands, Elevating Digital,
Operational Excellence and Lead in ESG.

Our strategy delivered this year, with a record sales result of $1.1 billion. This is the first time KMD
Brands has moved past the milestone of $1 billion in sales, and we’re proud of this achievement,
which saw all of our brands deliver sales growth.

The Director’s maintained the previous year’s record dividend payout, declaring $42.7 million in
dividends to shareholders in FY23.

In a period of higher interest rates, inflation and dampened consumer sentiment, we are pleased with
where we have landed. We have adjusted cost bases, focused distribution channels, continued to
invest in our brands and worked hard on distinctive, fit-for-purpose products.

Despite current headwinds, we see growth opportunities for all three of our brands. We continue to
invest in digital infrastructure, store network, and our people, to deliver on the opportunity we see.
Our strength is in our people and with that, I must acknowledge and thank Group CEO and Managing
Director Michael Daly, who not only acted in this role, but stepped in as acting CEO for Kathmandu as
we looked for a replacement. It was worth the wait, and Michael will touch on this shortly, but I want to
express mine and the Board’s gratitude for what has been a very busy year for you Michael.

In December, we farewelled John Harvey after more than 12 years of excellent service to the KMD
Brands board and introduced Zion Armstrong who was appointed as a new Non-Executive Director.
Zion has had a very successful 30 year career in the global branded sportswear industry. Zion spent
24 years with adidas, stepping down as President – North America in early 2022 to return to New
Zealand. On behalf of the board, welcome to your first Annual Shareholders Meeting, Zion.

In closing I sincerely thank my Board colleagues for their hard work, good humour and ongoing
commitment to making KMD Brands successful. We have built a strong foundation for future growth,
whatever the challenges ahead.

Finally, thank you to you, our shareholders, for your continued support of the company.

ENDS

---

KMD BRANDS LIMITED W kmdbrands.com

10 November 2023

KMD Brands Limited Annual Shareholder Meeting 2023
Group CEO Address
Thank you, David.

Good morning everyone and thank you for joining us for today’s Annual Shareholder Meeting for 2023.

My name is Michael Daly and I am the CEO and Managing Director of the KMD Brands Group.
Today I'm going to talk you through the achievements and challenges we have experienced over the past
year, including the Group’s financial performance and future strategy.

Slide 9 – Our purpose and vision
I’ll start by touching on our purpose and vision, which remain the same and continues to guide us.
• Our purpose is inspiring people to explore and love the outdoors
• Our vision is to be the leading family of global outdoor brands – designed for purpose, driven by innovation,
best for people and planet

These statements not only resonate with our employees, they’re increasingly important as we look to
differentiate our brands in a competitive global market.

Slide 10 – Global vision, global footprint
To deliver this vision, we must use our existing global footprint to grow our brands.

In FY23 we launched Kathmandu in Europe and Canada, leveraging the operational structure and network Rip
Curl has established over a number of decades.

Since our soft launch 12 months ago, our teams have opened almost 100 wholesale doors and delivered
several new direct-to-consumer local-language websites.

We plan to use a similar strategy to extend the Oboz brand in ANZ and Europe.

In addition to using the power of the Group in this way, we also opened several new stores and increased our
network to 327 owned stores globally.

Slide 11 – Strategic Achievements
FY23 was another year of significant achievements that delivered on our Group strategy.

In Building Global Brands, Rip Curl continued its track record of innovation with a new wetsuit – the
FlashBomb Fusion. With five decades of product expertise, we've created a wetsuit that stands out by
featuring seam technology that doesn't leak, setting us apart from competitors.

Moving on to Kathmandu, we appointed Kathmandu’s next CEO, Megan Welch. Joining us from the global
footwear brand Crocs, Megan brings extensive global brand and product experience, making her the ideal
leader as we continue to grow the Kathmandu business and expand our global presence.

And to Oboz, a brand with extraordinary potential. This year we launched a new category in fast-hike - the
Katabatic range. This will attract new customers, excite our existing base and grow market share.
Under Elevating Digital, Club Rip Curl launched in Australasia, attracting over 220,000 members and
delivering over $30 million in member-based sales. A significant achievement so far.

E-commerce has been a big focus, with localised Kathmandu websites supporting our international launch.
Oboz grew online sales by over 350% – as we continue to see direct-to-consumer become part of the brand’s
multi-channel strategy.

We also worked on innovative ways to safeguard our brands. With a rise in counterfeit sites and online scams,
we invested in security systems to mitigate IP infringement to protect our customers.

We continued to leverage Operational Excellence, with Underlying EBITDA margin improving by 0.2% of sales
year-on-year. Softening consumer sentiment in the fourth quarter impacted the FY23 result, however our
strategy remains unchanged as we continue to target an Underlying EBITDA margin of 15% of sales.

We continued to grow scale across brands to maximise the efficiency of our overhead spend; as an example,
our portfolio approach to lease negotiations in Australasia achieved an overall reduction in rent costs across
63 lease renewals.

And finally, to our strategic pillar to Lead In ESG - I truly believe we are leading in this space.

Our emissions-reduction targets were approved by the Science-based targets initiative, meaning our climate
goals are aligned with the Paris agreement.

We were recognised for our integrated reporting, with several awards and accolades received.
And finally, earlier this year we announced that our Group and brands are now certified B Corporations. This is
a significant achievement for a business as complex as ours and we’re 1 of only 45 listed companies globally
to have achieved this.

Slide 12 – B Corp Certified
Because we’re asking you to vote on a change to the constitution today that supports our ongoing B Corp
certification, I want to briefly remind you of what a B Corp is, what it means to our business, and for you as
shareholders.

B Corps are businesses that meet high standards of social and environmental performance, accountability,
and transparency. They envision a better economic system where businesses can benefit people,
communities, and the planet. Put simply, it means that as well as making decisions that deliver returns to
shareholders, B Corps consider the impact of these decisions for the long-term best interests of the
company.

As to why you should vote in favour of the resolution proposed today to change our constitution - B Corp
certification gives our business a license to operate in an increasingly challenging regulatory environment; it
allows KMD Brands to present as an attractive proposition for investors and shareholders; it protects the
reputation of our brands; and it grows our appeal with customers in the competitive consumer retail space.

Long term returns to shareholders is a key benefit of B Corp certification and the priority for KMD Brands.

I’m proud to say we are a B Corp, as are the Board and our employees. I hope you - our shareholders – are
too, and that you vote “yes” in support of this important change today.

Slide 13 – Financial Achievements
Moving on to financial achievements now.

As David touched on, KMD Brands reached over $1 billion in sales for the first time this year – a milestone that
we’re very pleased with in our first full year of uninterrupted trade post-pandemic.

All of our iconic brands grew sales, with the Group, Rip Curl and Oboz achieving record sales, and delivering
growth of 12.6% on the previous year.

Gross margin remained resilient, increasing 20 basis points to 59.1% of sales. Improved direct-to-consumer
channel mix, wholesale pricing and international freight costs offset currency headwinds.
As a result, underlying EBITDA was up by over 15% year-on-year, to $105.9 million.

Statutory NPAT was $36.6 million; while Underlying NPAT was up 8.6% year-on-year to $43.3 million.
And as you know, our dividends declared will return over $42 million to shareholders at 6 cents per share.

Slide 14 – Record sales $1.1 billion
FY23 was the first full financial year of uninterrupted trade since the acquisition of both Oboz and Rip Curl.
We’re proud that the foundations put in place during the pandemic have helped us to reach this milestone.

Over the year we achieved strong sales growth across all three of our brands, and in all of our key
geographies.

Rip Curl grew sales by 8.3% to achieve another record sales result for the brand, while Kathmandu continued
its second phase of recovery post-pandemic, growing sales by 10.6%. Oboz sales recovered strongly
following last year’s supply constraints, growing sales by 61.8%.

We’ve seen customers return to stores, with retail store sales up 17.5%. This had an impact on online sales,
which normalised still significantly above pre-pandemic levels. Despite a challenging wholesale market, Group
wholesale sales grew by 11%, as Oboz sales recovered.

By region, Australia and New Zealand sales grew by 9.6% and 12.5% respectively, cycling COVID lockdowns
in the first quarter of last year. North America sales grew by 24.4%, with Oboz sales recovery, and Hawaiian
stores capitalising on the return of international tourism. Europe sales grew by 5.6%, and the rest of the world
grew by 11.2%, with strong tourism-based growth in Thailand.

Slide 15 – Strategic Priorities FY24
Our strategy is working and remains unchanged.

We will continue to build global brands, with the design, development, and launch of market-leading innovative
products for the outdoors. Rip Curl aims to grow market share in the North American market by executing
wholesale and omni-channel opportunities. With our new CEO in place, Kathmandu will focus on maintaining
market dominance in ANZ and growth in international. Oboz will look to expand internationally, with Europe
and ANZ the key geographies of focus.

Elevating digital will be ramped up significantly in FY24. Kathmandu has now launched a revamped version of
the Summit Club - ‘Out there rewards’, which will incentivise members to get outside and experience nature
and connect our target customer more closely with their local community.

In addition to the newly expanded Chief Information Officer role, we will also appoint a Chief Digital Officer
who will focus on digital strategy and innovation across the Group. These roles will increase momentum in this
space and deliver best-in-class experiences to our customers. Personalisation remains a focus, leveraging
our new loyalty programs with increased investment.

We will use the power of the Group to drive operational excellence across brands; and with significant
progress made this year, continue to work towards reducing our working capital and improving our underlying
EBITDA margin.

We will continue our good work in ESG, with a commitment to increase our responsible material content
across brands, reduce our emissions in line with the Paris agreement, and further explore commercialising
circular business models.


Slide 16 – FY24 Outlook
And finally, to slide 16, I want to take you through our outlook for FY24.

All three of our iconic brands are cycling a strong sales rebound last year. As we navigate a more challenging
consumer environment this year, our strategic plans remain unchanged.

We remain focused on executing our strategy, managing working capital, and improving gross margins.

Progress towards our working capital target of 18% of sales is expected to drive strong cash flow generation in
the second half year.

The Group is well positioned to capitalise on the tailwinds from a continued return to travel, positive impacts
from the launch of innovative products and the outdoor lifestyle trend post-pandemic.
Following our previous update in September, the Group’s first half results are dependent on the key Black
Friday and Christmas retail trading periods to come. We intend to provide an update after Black Friday trade in
mid-December.

Thank you for your continued support and please feel free to ask me any questions at the end of the meeting. I
will now hand back to David.
ENDS

---

ANNUAL MEETING
2023
10 NOVEMBER 2023

OUR BOARD
2
David Kirk
Chairman
Michael Daly
Managing Director
and Group CEO
Andrea Martens
Non-Executive
Director
Philip Bowman
Non-Executive
Director
Zion Armstrong
Non-Executive
Director
Brent Scrimshaw
Non-Executive
Director
Abby Foote
Non-Executive
Director
A N N U A L M E E T I N G 2 0 2 3

3
6
8
17
23
TODAY’S AGENDA
ITEM 1:CHAIRMAN'S ADDRESS
ITEM 2: GROUP CEO'S ADDRESS
ITEM 3: RESOLUTIONS
- ELECTION OF DIRECTORS
- AUDITOR REMUNERATION
- CHANGE TO THE CONSTITUTION
ITEM 4: OTHER BUSINESS
A N N U A L M E E T I N G 2 0 2 3

VOTING AND REGISTRATION
4
A N N U A L M E E T I N G 2 0 2 3
To vote, you will need to click
“Get Voting Card” within the
online meeting platform shown
here
Please use the "Ask a Question"
function, and your question will be
conveyed to the meeting

FY23 ANNUAL INTEGRATED REPORT
5
A N N U A L M E E T I N G 2 0 2 3

CHAIRMAN’S
ADDRESS
6
ITEM 1
A N N U A L M E E T I N G 2 0 2 3

OWNER OF
ICONIC GLOBAL
OUTDOOR BRANDS
7
A N N U A L M E E T I N G 2 0 2 3

GROUP CEO’S
ADDRESS
8
ITEM 2
A N N U A L M E E T I N G 2 0 2 3

9
OUR PURPOSE
Inspiring people to explore
and love the outdoors
OUR VISION
To be the leading family of
global outdoor brands -
designed for purpose,
driven by innovation,
best for people and planet
A N N U A L M E E T I N G 2 0 2 3

GLOBAL VISION, GLOBAL FOOTPRINT
10
A N N U A L M E E T I N G 2 0 2 3

STRATEGIC ACHIEVEMENTS
11
Rip Curl
•Launch of market leading and
innovativeFusion wetsuit targeted at
core surfer.
•Kathmandu
•Appointed new CEO Megan Welch
with extensive international brand
growth experience.
•Oboz
•Launch of high-growth fast trail
category, to attract new customers
and grow market share.
•Loyalty
•Club Rip Curl launched in Australasia.
Over 220k members, and over $30m
member sales.
•E-commerce
•Kathmandu French, German and
Canadian websites launched. Oboz
online sales up >350%.
•Security
•Enhanced security against IP
infringement and counterfeit sites, to
protect brand and customers.
•EBITDA margin
•0.2% of sales improvement YOY.
•Targeting 15% of sales underlying
EBITDA margin.
*1
•Group Procurement
•Continued realisation of benefits from
consolidation of purchasing power.
•Leases
•Portfolio approach to lease
negotiations in Australasia achieved
an overall rent reduction across 63
lease renewals.
Science-based targets
•Approved by SBTi - 2030 goals
aligned to Paris Climate agreement.
•Integrated reporting excellence
•Winner - Best First Time Entry in
theAustralasian Reporting Awards.
•B Corporations
•Group and all brands now B Corp
certified. Only 45 publicly traded
businesses globally.
BUILDING GLOBAL
BRANDS
ELEVATING
DIGITAL
OPERATIONAL
EXCELLENCE
LEAD IN
ESG
1.Statutory results include the impact of IFRS 16 leases. For comparability, the impacts of IFRS 16 andrestructuring are excluded from Underlying results. Refer to Appendix 1 of the FY23 Results Presentation for a reconciliation of Statutory to Underlying results.
A N N U A L M E E T I N G 2 0 2 3

B CORP CERTIFIED
•In FY23, Rip Curl and Oboz achieved B Corp certification as well as
the Rip Curl wetsuit factory OnSmooth in Thailand. Kathmandu
achieved re-certification (first certified in 2019) with major
improvements that were commended by B Lab.
•Certification is a significant achievement for KMD Brands because
our business and brands have been independently verified to meet
globally recognised high standards of social and environmental
performance, public transparency and legal accountability.
•B Corp certification is important, with some of the potential benefits
includinglong-termsustainability,risk mitigation,a competitive
advantage, attracting and retaining employees, and appealing
toethical investors.
•Long term returns to shareholders is a key benefit of B Corp
certification for KMD Brands.
A N N U A L M E E T I N G 2 0 2 3
12

FINANCIAL ACHIEVEMENTS
13
1.Statutory results include the impact of IFRS 16 leases. For comparability, the impact of IFRS 16, restructuring, and the notional amortisation of Rip Curl and Oboz customer relationships are excluded from Underlying results.
Refer to Appendix 1 of the FY23 Results Presentation for a reconciliation of Statutory to Underlying results.
Dividends
declared
59.1%
Gross margin
improvement
+20 bps
$105.9m
Underlying
EBITDA
1
+15.1%
$43.3m
Underlying
NPAT
1
+8.6%
$1,103m
Sales growth
+12.6%
NZ 6 cps
FY22 $92.0mFY22 58.9%FY22 $979.8mFY22 $39.8m
FY22 NZ 6 cps
A N N U A L M E E T I N G 2 0 2 3

RECORD SALES $1.1 BILLION
538.9
801.5
922.8
979.8
1,103.0
FY19FY20
incl. 9 months
of Rip Curl
FY21FY22FY23
TOTAL GROUP REPORTED SALES (NZ $m)
+8.3%
Rip Curl
+10.6%
Kathmandu
+61.8%
Oboz
BY
BRAND
+17.5%
Retail
-8.2%
Online
+11.0%
Wholesale
+9.8%
Licensing / Royalties
BY
CHANNEL
+9.6%
Australia
+12.5%
New Zealand
+24.4%
North
America
+5.6%
Europe
+11.2%
Rest of World
BY
REGION
DIVERSIFIED SALES GROWTH (FY23 VS FY22)
14
A N N U A L M E E T I N G 2 0 2 3

STRATEGIC PRIORITIES FY24
15
•Continued design, development, and
launch of market-leading innovative
products for the outdoors.
•Rip Curl
•Continued North America sales
growth.
•Kathmandu
•Focus on growinginternational sales,
leveraging the Group structure.
•Oboz
•Expansion into Europe and relaunch
in ANZ.
•Loyalty
•Relaunch Kathmandu loyalty
programme ‘Out there rewards’.
•Talent
•Commencementof Group and Brand
Executivesto accelerate digital
transformation.
•Personalisation
•Increased investment, leveraging
loyalty programs.
•Working capital
•Target 18% of sales.Rip Curl and
Oboz reductionsin wetsuits and
footwear inventory.
•EBITDA margin
•Group underlying EBITDA margin
*1

target 15% of sales -specific targets
for brands and corporate functions.
•Operating efficiencies
•Ongoing consolidation of costs, to
leverage Group structure, focus on
supply chain and systems.
•Responsible materials
•Increase responsible material content
in products. Reduce waste footprint
created across our businesses.
•Science-based targets
•Reduce emissions in line with the
Paris ClimateAgreement goals.
•Circularity
•Continuedfocus on circular business
models acrossbrands.
BUILDING GLOBAL
BRANDS
ELEVATING
DIGITAL
OPERATIONAL
EXCELLENCE
LEAD IN
ESG
A N N U A L M E E T I N G 2 0 2 3
1.Statutory results include the impact of IFRS 16 leases. For comparability, the impacts of IFRS 16 andrestructuring are excluded from Underlying results. Refer to Appendix 1 of the FY23 Results Presentation for a reconciliation of Statutory to Underlying results.

FY24 OUTLOOK
16
•All three of our iconic brands are cycling a strong sales rebound last year.
As we navigate a more challenging consumer environment this year, our
strategic plans remain unchanged.
•We remain focused on executing our strategy, managing working capital,
and improving gross margins.
•Progress towards our working capital target of 18% of sales is expected to
drive strong cash flow generation in the second half year.
•The Group is well positioned to capitalise on the tailwinds from a continued
return to travel, positive impacts from the launch of innovative products
and the outdoor lifestyle trend post-pandemic.
•Following our previous update in September, the Group’s first half results
are dependent on the key Black Friday and Christmas retail trading
periods to come. We intend to provide an update after Black Friday trade
in mid-December.
A N N U A L M E E T I N G 2 0 2 3

RESOLUTIONS
17
ITEM 3
A N N U A L M E E T I N G 2 0 2 3

RESOLUTION 1
18
To consider and, if thought fit, to pass the following resolution as an ordinary resolution:
“That Brent Scrimshaw be re-elected as a Director of the Company.”
Proxies:
In respect of this item of business, the following proxies have been received:
Resolution 1
In favour403,966,864
Against31,460,205
Open2,465,096
The Board unanimously supports Resolution 1 and recommends that shareholders vote in favour.
A N N U A L M E E T I N G 2 0 2 3

RESOLUTION 2
19
To consider and, if thought fit, to pass the following resolution as an ordinary resolution:
“That Philip Bowman be re-elected as a Director of the Company.”
Proxies:
In respect of this item of business, the following proxies have been received:
Resolution 2
In favour411,714,118
Against23,721,791
Open2,455,095
The Board unanimously supports Resolution 2 and recommends that shareholders vote in favour.
A N N U A L M E E T I N G 2 0 2 3

RESOLUTION 3
20
To consider and, if thought fit, to pass the following resolution as an ordinary resolution:
“That Zion Armstrong be elected as a Director of the Company.”
Proxies:
In respect of this item of business, the following proxies have been received:
Resolution 3
In favour435,034,741
Against403,252
Open2,455,095
The Board unanimously supports Resolution 3 and recommends that shareholders vote in favour.
A N N U A L M E E T I N G 2 0 2 3

RESOLUTION 4
21
To consider and, if thought fit, to pass the following resolution as an ordinary resolution:
“That the Board be authorised to fix the remuneration of the Company’s auditor for the ensuing year.”
Proxies:
In respect of this item of business, the following proxies have been received:
Resolution 4
In favour434,599,917
Against902,381
Open2,415,095
The Board unanimously supports Resolution 4 and recommends that shareholders vote in favour.
A N N U A L M E E T I N G 2 0 2 3

RESOLUTION 5
22
To consider and, if thought fit, to pass the following resolution as a special resolution:
“That the Company amend and replace its existing Constitution, in the form and manner described in the Explanatory Notes, with immediate effect.”
Proxies:
In respect of this item of business, the following proxies have been received:
The Board unanimously supports Resolution 5 and recommends that shareholders vote in favour.
Resolution 5
In favour435,035,642
Against307,994
Open2,425,095
A N N U A L M E E T I N G 2 0 2 3

OTHER BUSINESS
23
ITEM 4
A N N U A L M E E T I N G 2 0 2 3

THANK YOU
24
A N N U A L M E E T I N G 2 0 2 3

IMPORTANT NOTICE AND DISCLOSURE
25
This presentation prepared by KMD Brands Limited (the “Company” or the “Group”) (ASX/NZX:KMD) provides additional comment on the financial statements of the Company, and
accompanying information released to the market. As such, it should be read in conjunction with the explanations and views inthose documents.
This presentation is not a prospectus, investment statement or disclosure document, or an offer of shares for subscription, or sale, in any jurisdiction.Past performance is not indicative of
future performance and no guarantee of future returns is implied or given.
The information contained in this presentation is not investment or financial product advice and is not intended to be used as the basis for making an investment decision. This presentation
has been prepared without taking into account the investment objectives, financial situation or specific needs of any particularperson. Potential investors must make their own independent
assessment and investigation of the information contained in this presentation and should not rely on any statement or the adequacy or accuracy of the information provided.
This presentation includes certain “forward-looking statements” about the Company and the environment in which the Company operates. Forward-looking information is inherently uncertain
and subject to contingencies, known and unknown risks and uncertainties and other factors, many of which are outside of the Company’s control, and may involve significant elements of
subjective judgement and assumptions as to future events which may or may not be correct. A number of important factors couldcause actual results or performance to differ materially from
the forward-looking statements. No assurance can be given that actual outcomes or performance will not materially differ from the forward-looking statements. The forward-looking
statements are based on information available to the Company as at the date of this presentation.
To the maximum extent permitted by law, none of the Company, its subsidiaries, directors, employees or agents accepts any liability, including, without limitation, any liability arising out of
fault or negligence, for any loss arising from the use of the information contained in this presentation. In particular, no representation or warranty, express or implied, is given as to the
accuracy, completeness or correctness, likelihood of achievement or reasonableness of any forecasts, prospects, statement or returns contained in this presentation. Such forecasts,
prospects, statement or returns are by their nature subject to significant uncertainties and contingencies. Actual future eventsmay vary from those included in this presentation.
The statements and information in this presentation are made only as at the date of this presentation unless otherwise statedand remain subject to change without notice.Some of the
information in this presentation is based on unaudited financial data which may be subject to change. Information in this presentation is rounded to the nearest hundred thousand dollars,
whereas the financial statements of the Company are rounded to the nearest thousand dollars. Rounding differences may arise in totals, both dollars and percentages.
All intellectual property, proprietary and other rights and interests in this presentation are owned by the Company.
All currency amounts in this presentation are in NZD unless stated otherwise.
A N N U A L M E E T I N G 2 0 2 3