Turners 2024 ASM Presentation

1• 2024 ASM PRESENTATION TURNERS AUTO GROUP
2024 Annual
Meeting
Presentation
18 September 2024

2 • 2024 ASM PRESENTATION TURNERS AUTO GROUP
Board of Directors
Grant Baker
Non-executive Chairman
Matthew Harrison
Non-executive Director
Alistair Petrie
Non-executive Director
Antony Vriens
Independent Director
John Roberts
Independent Director
Lauren Quaintance
Independent Director

3 • 2024 ASM PRESENTATION TURNERS AUTO GROUP
Meeting Agenda
1. Presentations
•Address from the Chair, Grant Baker
•Address from the CEO, Todd Hunter
•Address from Directors up for re-election
2. Shareholder Discussion
3. Resolutions are per Notice of Meeting
•Auditor Appointment and Remuneration
•Directors Resolution
•Antony Vriens, who retires by rotation and has offered himself for re-election, be re-elected
as a Director of the Company.
•Alistair Petrie, who retires by rotation and has offered himself for re-election, be re-elected
as a Director of the Company.
4. General Business

4 • 2024 ASM PRESENTATION TURNERS AUTO GROUP
Chairman’s Address
Grant Baker
4 • 2024 ASM PRESENTATION TURNERS AUTO GROUP

5 • 2024 ASM PRESENTATION TURNERS AUTO GROUP
5 • 2024 ASM PRESENTATION TURNERS AUTO GROUP
Delivering on our plan

6 • 2024 ASM PRESENTATION TURNERS AUTO GROUP
Turners is a strong and sustainable business with a proven
track record...
* Dividends fully imputed from FY17 onwards
Total NPBT/NPAT over 3 year period ($m)
Aggregate dividends paid over 3 year period (cps)
23.9
77.3
95.5
137.6
27.9
56.6
70.6
96.9
0
20
40
60
80
100
120
140
160
FY13-FY15FY16-FY18FY19-FY21FY22-FY24
NPBTNPAT
0.10
0.43
0.51
0.715
0.000
0.100
0.200
0.300
0.400
0.500
0.600
0.700
0.800
FY13 - FY15FY16 - FY18FY19 - FY21FY22 - FY24

7 • 2024 ASM PRESENTATION TURNERS AUTO GROUP
Delivering on our plan for growth ...
1.Record result despite the economy under significant pressure. Turners
demonstrates resilience and ability to pivot to where the demand is
strongest.
2.Auto Retail division grows profits 27%, Insurance 15%, Credit 9%
helping to offset continued impact from increasing interest rates in
Finance division.
3.Full year dividend at 25.5 cps. Based on current share price this is a
gross yield of ~9%pa.
4.Our plan for growth has been proven up and de-risked over the last
three years.
5.The business remains well diversified, and the value of having annuity
and activity based revenues is proving out again.
6.NZ and global economic challenges will persist over the next 12-24
months. Still see opportunities in the markets we operate in, and are well
positioned to take advantage of these.
•EBIT $58.6M +12%
1
•NPBT $49.1M +8%
•Revenue $417.0M +7%
•Dividend 25.5 cps +11%
•Earnings per share 37.7 cps 0%
(normalised EPS 40.2cps +7%)
2

1
EBITadjusted for interest expense in Finance (non-IFRS measure)
2
The legislative change to remove depreciation on commercial buildings has
increased the effective tax rate to 33% for FY24. This is a one-off non-cash
impact in FY24 only. The effective tax rate over the last two years is between
27.5-28.5%. A normalised NPAT using FY23 tax rate of 28.5% would be
$35.1M +8% and EPS would be 40.2 +7%.

8 • 2024 ASM PRESENTATION TURNERS AUTO GROUP

9 • 2024 ASM PRESENTATION TURNERS AUTO GROUP
FY24 Results snapshot
Revenue
Net profit aftertax
Revenue
$417.0M+7%
Shareholders’Equity
$278Mas at 31March 24
Net Profit BeforeTax
$49.1M+8%
Final Dividend 7.5cps
FY Div25.5 cps +11%
EBIT
1
$58.6M +12%
FY24 Earnings PerShare
2
37.7cps0%
Net Profit After Tax
2
$33.0M +1.5%
0
50
100
150
200
250
300
350
400
450
FY18FY19FY20FY21FY22FY23FY24
Millions
2H
1H
-
5.0
10.0
15.0
20.0
25.0
30.0
35.0
FY18FY19FY20FY21FY22FY23FY24
Millions
2H
1H
1
EBITadjusted for interest expense in Finance (non-IFRS measure)
2
The legislative change to remove depreciation on commercial buildings has increased the effective tax rate to 33% for FY24.
This is a one-off non-cash impact in FY24 only. The effective tax rate over the last two years is between 27.5-28.5%. A
normalised NPAT using FY23 tax rate of 28.5% would be $35.1M +8% and EPS would be 40.2 +7%.
CAGR 11%

10 • 2024 ASM PRESENTATION TURNERS AUTO GROUP
We operate to a simple formula
10 • 2024 ASM PRESENTATION TURNERS AUTO GROUP

11 • 2024 ASM PRESENTATION TURNERS AUTO GROUP
Quality outcomes
for our
shareholders
Quality
environment
for our people
+
Quality
customer
experiences
=

12 • 2024 ASM PRESENTATION TURNERS AUTO GROUP
Quality outcomes
for our
shareholders
Quality
environment
for our people
+
Quality
customer
experiences
=
50% of our team ~350
people own shares in
Turners.
Winner of Most Trusted
Used Car Dealership 5
years running
A decade of increasing
dividends for shareholders
(except for 2020)
Top 5% globally for levels
of team engagement

13 • 2024 ASM PRESENTATION TURNERS AUTO GROUP
Turners has a strong and sustainable yield
Dividend per Share ($)
Note - Dividends fully imputed from FY17 onwards
•Continued the track record of delivering strong,
sustainable and growing dividends in the business
(CAGR 11%)
•Dividend payout ratio is 60-70% of NPAT.
•DRP continues to be successful with take up ~20%
COVID
impacted year
0.10
0.13
0.15
0.16
0.17
0.14
0.20
0.230.23
0.255
0.00
0.05
0.10
0.15
0.20
0.25
0.30
FY15FY16FY17FY18FY19FY20FY21FY22FY23FY24

14 • 2024 ASM PRESENTATION TURNERS AUTO GROUP
A year of accolades...
INFINZ
CEO of the Year
NZ Marketing Award:
Excellence in Long-
Term Marketing
Strategy
Finalist in the Diversity
Works NZ Awards for
Respectful Culture
Entry into NZX50
50

15 • 2024 ASM PRESENTATION TURNERS AUTO GROUP
20
25
30
35
40
45
50
55
60
65
70
FY19FY20FY21FY22FY23FY24FY25FY26FY27FY28
New medium-term target of $65M NPBT for FY28
Net Profit Before Tax ($M)
FY28
target
May-24 set new target of $65M NPBT by FY28
•We achieved our FY24 target a year ahead,and remain on
track for exceeding our $50M NPBT FY25 goal.
•Assumes organic growth out of Auto Retail with new
branches planned plus continued wholesale to retail
transition. Recovery in Finance business and Credit
management + direct to consumer growth in Insurance.
•5yr actual CAGR - FY19 to FY24 of 11.1%
•10yr forecast CAGR FY19 to FY28 of 9.4%

16 • 2024 ASM PRESENTATION TURNERS AUTO GROUP
Positioning ourselves for future growth
and extension of the Turners brand...

17 • 2024 ASM PRESENTATION TURNERS AUTO GROUP
•Turners have invested $3.35M for 50% of My Auto Shop
•My Auto Shop are a vehicle repair platform with 300+ MTA
approved repairers plus a fleet of MyAutoShop branded mobile
repair vans. Their goal is simple, they aim to make vehicle repairs
easier.
•Significant opportunity to develop a scale player in the $3B highly
fragmented auto repair market in NZ.
•Turners see enormous strategic value in the acquisition plus we like
the point of difference around convenience, transparency and
simplicity of experience.
•There is a significant opportunity to cross sell these services to
more than 200,000 Turners customers right across Turners Cars,
Autosure Insurance and Oxford Finance.

18 • 2024 ASM PRESENTATION TURNERS AUTO GROUP
•Strategic investment of $1 million in Quashed giving a 13% stake in
the rapidly growing Kiwi company.
•Quashed allows consumers to easily compare, shop and manage
insurance policies from multiple insurers across motor, contents,
home, pet, and life insurance.
•The investment aligns with Turners’ partnership strategy to provide
more value to Turners’ customer base. We love the fairness, ease
and simplicity that Quashed brings to insurance.
•Commercial agreement established between Quashed and Turners
for customer referrals.
$1,309
+20%

19 • 2024 ASM PRESENTATION TURNERS AUTO GROUP
Key takeaways...
✓Attractive dividend yield of c.9%
✓Proven track record of growth, resilience and a positive outlook.
✓Strong earnings, despite extremely challenging conditions for retailers.
✓Auto Retail fired again during the year with +27% profit growth. But it's much more than the "Tina
effect" when you look "under the hood" (sourcing, sites, systems).
✓Finance is ramping up again in FY25 after interest rate headwinds, which are now turning into
tailwinds. Arrears remain well below industry norms.
✓A special culture with inspiring leadership
-top 5% globally for employee engagement
-53% share ownership means an "ownership mentality" every day.

20 • 2024 ASM PRESENTATION TURNERS AUTO GROUP
CEO’s Update
Todd Hunter
20 • 2024 ASM PRESENTATION TURNERS AUTO GROUP

21 • 2024 ASM PRESENTATION TURNERS AUTO GROUP
What is happening in the
markets we operate in?

22 • 2024 ASM PRESENTATION TURNERS AUTO GROUP
Regulatory changes driving drop in used car market sales...
•The last year saw a material impact on the used import market with
unprecedented levels of change in government regulation.​
•​Overall used car transaction levels for FY25 YTD in-line with FY24
•Turners unit sales tracking 7% ahead Aug-24 YTD
•New car market has been in a real downturn Passenger vehicle sales
down 30% FY25 YTD and light commercial down 9% FY25 YTD​
•Demand for higher value cars continues to moderate. Demand for
lower value cars growing. Expect this to continue until interest rates
start dropping.​
NZ Used Car Change of Ownerships (000s)
Source NZTA
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
40,000
45,000
0
200
400
600
800
1,000
1,200
FY19FY20FY21FY22FY23FY24
Total Cars Sales for Turners
NZ Used Vehicle Change of Ownership
NZ MarketTurners Sales

23 • 2024 ASM PRESENTATION TURNERS AUTO GROUP
2,700
2,800
2,900
3,000
3,100
3,200
3,300
3,400
3,500
3,600
Jan-17
Apr-17
Jul-17
Oct-17
Jan-18
Apr-18
Jul-18
Oct-18
Jan-19
Apr-19
Jul-19
Oct-19
Jan-20
Apr-20
Jul-20
Oct-20
Jan-21
Apr-21
Jul-21
Oct-21
Jan-22
Apr-22
Jul-22
Oct-22
Jan-23
Apr-23
Jul-23
Oct-23
Jan-24
Apr-24
Jul-24
Dealer numbers bouncing along the bottom
Registered Dealer Numbers NZ (source MBIE)
18% drop
3,518
Feb-18
2,870
Aug-24
•​Registered dealer numbers bottomed out in Q1
2023 but picked up off the strength of NZD v YEN
and higher numbers of used imports.
•Dealer numbers starting to track down again with
weak demand and weakening NZD.
•Demand for higher value cars continues to
moderate and strengthen at lower price point
segments.
•Ultimately this is a category where scale will win

24 • 2024 ASM PRESENTATION TURNERS AUTO GROUP
Business divisions

25 • 2024 ASM PRESENTATION TURNERS AUTO GROUP
FY24 by segment
($M)Automotive RetailFinanceInsuranceCredit
Revenue298.6+7%62.4+6%46.1+6%9.8+6%
Segment NPBT31.8+27%12.2(18%)14.3+15%3.1+9%
•3 out of 4 segments materially ahead of FY23
•Composition of FY25 profits will look different and it is playing out in line with our expectations

26 • 2024 ASM PRESENTATION TURNERS AUTO GROUP
Auto Retail Division
Strong brand
Smarter sourcing
Systems efficiency

27 • 2024 ASM PRESENTATION TURNERS AUTO GROUP
Our auto retail division has been a stand out performer
Operating Profit Contribution Auto Retail ($M)
13.8
15.4
19.4
25.0
31.8
-
5.0
10.0
15.0
20.0
25.0
30.0
35.0
FY20FY21FY22FY23FY24
Operating Profit $M
•Sourcing cars locally (Tina working well)
•Operational improvements meaning we turn
stock faster
•Focusing on selling retail cars, more margin!
•Opening more branches (supermarket
strategy)
•Damaged and end of life vehicle business
performing well off the back of aging NZ
vehicle fleet
Revenue $299M +7%, Segment Profit $32M +27%

28 • 2024 ASM PRESENTATION TURNERS AUTO GROUP
Branch expansion + owning more local cars will drive
growth in units sold
Car units sold v Forecasted property retail m2
Exiting inefficient
large branches eg.
Penrose supersite
Impact of
Covid on
unit sales
Growth in retail focused and
located branches +
operational efficiency
Acquisition of
BuyRight Cars
Committed plan to
have 29 branches
operating in FY27
11 branches
in FY16
139,083
166,120
182,151
186,843
187,267
178,026
163,978
174,318
179,599
187,236
191,187
188,560
-
5,000
10,000
15,000
20,000
25,000
30,000
35,000
40,000
45,000
18,000
38,000
58,000
78,000
98,000
118,000
138,000
158,000
178,000
198,000
218,000
FY16FY17FY18FY19FY20FY21FY22FY23FY24FY25FY26FY27
Total Car Units SOld
Total footprint m2
Footprint (000's) m2Car Sales

29 • 2024 ASM PRESENTATION TURNERS AUTO GROUP
Entering a “build” phase for next growth push
LocationBranchSizeTiming
Expected additional
profit contribution
Timaru (COMPLETED)Cars4,000m2Q4 FY24$500k
Napier (COMPLETED)Cars8,000m2Q4 FY24$500k
Tauranga – Tauriko
Trucks &
Damaged
Vehicles
7,900m2Q2 FY25$400k
Christchurch – HornbyCars15,500m2Q4 FY25$400k
1
Christchurch – Burnside
(Airport precinct)
Cars8,000m2Q4 FY25$300k
1
Christchurch – City CentreCars6,000m2Q1 FY26$500k
1
Tauranga - GreertonCars7,600m2Q4FY27$600k
New locations
•Takanini/Drury
•Whanganui
•North East Christchurch
•Lower Hutt
•Albany north
Existing locations expansion
•Invercargill
•New Plymouth
Committed development pipeline
“Opportunities” pipeline
1
additional profit contribution over and above the current
operating profit of Christchurch operations of ~$4M
We own 15 of our sites with a cost
value of $115M

30 • 2024 ASM PRESENTATION TURNERS AUTO GROUP
Christchurch footprint to be optimised by 2026, with three new
sites under development
Hornby – commence Oct 2024
Wairakei Rd – April 2025
Moorhouse – commence Sept 2024

31 • 2024 ASM PRESENTATION TURNERS AUTO GROUP
Shands Rd, Hornby, Christchurch (15,000m2)

32 • 2024 ASM PRESENTATION TURNERS AUTO GROUP
Shands Rd, Hornby, Christchurch (15,000m2)

33 • 2024 ASM PRESENTATION TURNERS AUTO GROUP
Other Christchurch sites – works to start September
Moorhouse Ave (6500m2)

34 • 2024 ASM PRESENTATION TURNERS AUTO GROUP
Other Christchurch sites – works to start September
Wairakei Rd (12,000m2)

35 • 2024 ASM PRESENTATION TURNERS AUTO GROUP
Tauranga Trucks / DEOL – new site in Tauriko due for
completion Oct 2024

36 • 2024 ASM PRESENTATION TURNERS AUTO GROUP
Tauranga Trucks / DEOL – new site in Tauriko due for
completion Oct 2024

37 • 2024 ASM PRESENTATION TURNERS AUTO GROUP
Finance Division
Weathered the interest rate shock
Credit scores continue to improve
Back into growth mode

38 • 2024 ASM PRESENTATION TURNERS AUTO GROUP
Finance division
•Interest rate cycle has been a head wind since FY23
...but this will turn into a tail wind in time
•Growth in Turners Cars business has halo impact for
Oxford.
•Our focus on lending to quality borrowers puts us in a
strong position
•Arrears tracking well below pre-covid levels
•Margins starting to expand and loan book back in
growth mode
12.2
15.8
18.0
15.0
12.2
-
2.0
4.0
6.0
8.0
10.0
12.0
14.0
16.0
18.0
20.0
FY20FY21FY22FY23FY24
Operating Profit Contribution Finance ($M)
Revenue $62.4M +6%, Segment Profit $12.2M -18%

39 • 2024 ASM PRESENTATION TURNERS AUTO GROUP
•NIM has stabilised and is back growing
but will gather pace as a reducing OCR
cycle begins.
•Some older and low priced interest
swaps running off in Q1 FY25 which will
have a negative impact on NIM in H1
but will unwind in H2.
•Increased hedged portion of Oxford
borrowings to over ~75%.
Net Interest Margin (NIM) % after originator commission
Net interest margin starting to lift.
0%
1%
2%
3%
4%
5%
6%
7%
8%
1H212H211H222H221H232H231H242H24

40 • 2024 ASM PRESENTATION TURNERS AUTO GROUP
560
580
600
620
640
660
680
700
720
740
1H172H171H182H181H192H191H202H201H212H211H222H221H232H231H242H24
The quality of the finance book continues to improve.
Average Credit Score
Average Centrix
autoloan portfolio
score

41 • 2024 ASM PRESENTATION TURNERS AUTO GROUP
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
8.0%
Total consumer arrearsIndustry arrears (Centirx)
Quality focus resulting in arrears at well below industry
benchmarks
Low point
of 2.0%
Consumer arrears
Oxford Finance
Aug-24 2.3%
Centrix Auto Loan
Portfolio Jul-24 6.3%

42 • 2024 ASM PRESENTATION TURNERS AUTO GROUP
Insurance Division
Well tuned business
Distribution networks still important
Building blocks for a direct to consumer offer in place

43 • 2024 ASM PRESENTATION TURNERS AUTO GROUP
Insurance division
•Market share gains continuing to provide robust
policy sales despite challenging market conditions.
•Risk pricing continues to be refined
•Digital distribution arrangements continuing to work
well with further opportunities in pipeline
•Claims Costs inflation being offset by frequency of
claims reducing due to changes in consumer
behavior (WFH and cost of living)
•Pandemic and weather events have confirmed no
catastrophe risk in portfolio, and our de-risking
strategy has worked effectively
6.2
9.4
11.6
12.5
14.3
-
2.0
4.0
6.0
8.0
10.0
12.0
14.0
16.0
FY20FY21FY22FY23FY24
Operating Profit Contribution Insurance ($M)
Revenue $46.1M +6%, Segment Profit $14.3M +15%

44 • 2024 ASM PRESENTATION TURNERS AUTO GROUP
•Claims Costs inflation being offset by frequency
of claims reducing due to changes in consumer
behavior (WFH and cost of living).
•Risk pricing very important in managing loss
ratios, Autosure has introduced 2 new
categories of vehicle in FY24 to ensure we are
pricing correctly for risk
•Expectation is we are near the end of claims
inflation phase
59.8%
58.4%
58.0%
58.0%
FY21FY22FY23FY24
Mechanical Breakdown Insurance (MBI) Loss Ratio Performance
Claims are being well managed

45 • 2024 ASM PRESENTATION TURNERS AUTO GROUP
Credit Management Division
Business recovering
Tightening economy supports growth
Payment bank being rebuilt

46 • 2024 ASM PRESENTATION TURNERS AUTO GROUP
Creditmanagement
•Business recovering and building off the back of
improved marketing and a deteriorating
economy.
•Debt value loaded increased by 14% ($18M) over
FY23.
•Payment bank being rebuilt as debt load
increases
•NZ wide credit metrics continue to deteriorate
and are now the worst they have been in the last
7 years, which should see debt load levels
increase over coming years.
Revenue $9.8M +6%, Segment Profit $3.1M +9%
6.5
5.1
3.0
2.9
3.1
-
1.0
2.0
3.0
4.0
5.0
6.0
7.0
FY20FY21FY22FY23FY24
Operating Profit Contribution Credit ($M)

47 • 2024 ASM PRESENTATION TURNERS AUTO GROUP
NZ credit arrears metrics worst in 7 years
Consumer Arrears Trend
Source – Centrix Credit Bureau

48 • 2024 ASM PRESENTATION TURNERS AUTO GROUP
Funding

49 • 2024 ASM PRESENTATION TURNERS AUTO GROUP
More diversification in funding introduced
Borrowings
Borrowings by asset class ($M)
•Two additional funders, one bank and non-bank, brought into funding mix bringing further diversification and capacity.
•New securitisation warehouse created for new funders ($100M), Fitch AAA rating achieved as part of transaction process.
•Inventory funding broadened to provide flexibility for local purchasing as well as imports.
•Corporate funding capacity sufficient to fund committed branch expansion plans in Auto Retail.
($M)LimitDrawn
Receivables –Securitisation(BNZ/ACC)
371305
Receivables –Banking Syndicate(ASB/BNZ/Westpac)
50 23
Less Cash
(10)
Net Receivables Funding
421318
Receivables Funding Capacity
103
Corporate & Property
13092
Working Capital (ASB & BNZ)
305
Less Cash
(8)
Net Corporate Borrowings
16089
Corporate and Property Funding Capacity
71
0
50
100
150
200
250
300
350
400
450
Finance Receivables
(77% of total borrowings)
Property
(21% of total borrowings)
Inventory
(2% of total borrowings)
AssetBorrowings

50 • 2024 ASM PRESENTATION TURNERS AUTO GROUP
Adrian Orr name
check!
20
th
Aug-24 MPS Update

51 • 2024 ASM PRESENTATION TURNERS AUTO GROUP
3. Looking forward ...

52 • 2024 ASM PRESENTATION TURNERS AUTO GROUP
•Automotive Retail – we are in a build phase over the next 18 months as a number of new sites are under development. We will
continue to push hard for the transition of wholesale to retail and see upside coming from this strategy. Consumers demanding
lower priced vehicles and an overall fall in demand is having the expected impact on margins. Overall sales volumes are tracking
ahead of FY24.
•Finance – Maintaining credit discipline remains a key priority. We are seeing the expected improved performance from Oxford
in FY25 as a result of lower than expected impairments and credit losses and improvements in interest margin.
•Insurance – Earned premium holding up very well and claims ratios stable. Contribution from direct sales expected in H2.
•Credit Management – Our payment bank is rebuilding as debt load increases from the tightening economic conditions and the
resultant impact on consumer arrears. We are well positioned for the next stage of the NZ credit cycle.
Segment Outlook

53 • 2024 ASM PRESENTATION TURNERS AUTO GROUP
•Expecting a record first half performance with HY25 ahead of HY24.
•On track for exceeding the $50M NPBT goal in FY25 however there remains some obvious risks with the rate of recovery in the
overall economy and consumer demand.
Guidance

54 • 2024 ASM PRESENTATION TURNERS AUTO GROUP
Shareholder
Discussion
54 • 2024 ASM PRESENTATION TURNERS AUTO GROUP

55 • 2024 ASM PRESENTATION TURNERS AUTO GROUP
3. Resolutions

56 • 2024 ASM PRESENTATION TURNERS AUTO GROUP
Resolutions
ORDINARY RESOLUTIONS:
Resolution 1
That Baker Tilly Staples Rodway be reappointed as auditor of the Company and that the Directors be authorised to fix the
auditor’s remuneration.
Resolution 2
That Antony Vriens, who retires by rotation and has offered himself for re-election, be re-elected as a Director of the
Company.
Resolution 3
That Alistair Petrie, who retires by rotation and has offered himself for re-election, be re-elected as a Director of the Company.

57 • 2024 ASM PRESENTATION TURNERS AUTO GROUP
Voting
Resolution: Proxies FORAGAINST
PROXY
DISCRETION
1. Auditor’s reappointment / remuneration19,161,313443,5012,492,057
2. Re-election of Antony Vriens19,564,1853,7372,525,433
3. Re-election of Alistair Petrie18,177,9521,391,5362,525,433
Total proxies received in respect of 22,096,871shares representing 24.8% of total shares on issue.
Voting on each resolution will be by way of poll.

58 • 2024 ASM PRESENTATION TURNERS AUTO GROUP
Close of meeting
ToddHunter
Group CEO
T: 64 21 722818
E: todd.hunter@turners.co.nz
Aaron Saunders
Group CFO
T: 64 27 493 8794
E: aaron.saunders@turners.co.nz
58 • 2024 ASM PRESENTATION TURNERS AUTO GROUP