Mainfreight Limited - Trading Conditions Update 2 May 2025

MAINFREIGHT LIMITED

Mainfreight Lane | off Saleyards Road | Otahuhu 1062 | New Zealand
Tel +64 9 259 5500 | Fax +64 9 270 7400
PO Box 14-038 | Panmure | Auckland 1741 | New Zealand

Supporters of
MAINFREIGHT – GLOBAL LOGISTICS


NZX MARKET RELEASE


2 May 2025


MAINFREIGHT LIMITED – TRADING CONDITIONS UPDATE


Mainfreight Limited (NZX: MFT) provides this release to keep the market updated
on trading conditions as we progress through the trade impacts of tariff
negotiations.

Financial Year Ended 31 March 2025
Our full year accounts are currently being finalised and are yet to be audited.
However, it is our expectation that full year profit before tax and sales revenues
will be above market consensus expectations of NZ$375 million and NZ$5.1 billion
respectively.

Tariff Trading Implications
Trading during April within our Air & Ocean division has been in line with prior
years, albeit disrupted due to Easter and ANZAC holidays.

However, we are seeing a reduction in forward sea freight bookings for May on
the Transpacific trade route, China to USA. Alongside these reductions, a number
of customers wishing to continue to ship from China to the USA are placing freight
bookings on hold until a more defined outcome is achieved on tariff negotiations.
The Transpacific trade lane represents approximately 10% of Mainfreight’s total
Air & Ocean freight volume.

It is our expectation that tonnage reductions on the Transpacific trade lane are
inevitable while tariff negotiations continue to provide uncertainty for importers and
exporters alike.

Export trade into the USA from our other locations (Europe, Australia, New
Zealand and Southeast Asia) remains largely unaffected at this stage. Many
customers in these regions have a “wait and see” approach with normal business
conditions being adopted during the 90-day tariff suspension period.

Our presence across five differing regions (27 countries) provides ongoing
opportunity should USA trade reduce – reflecting the diversity of our growing
international network.

USA Divisional Trading
In the upcoming full year results, we expect our USA Mainfreight business will
represent approximately 7% of profit before tax across our group earnings profile.
Whilst we remain dissatisfied with this performance and return, the USA market
continues to provide growth opportunity. All three of our service divisions are
represented within our USA business – Domestic Transportation, Warehousing
and Air & Ocean. Mainfreight remains well positioned to take advantage of both
internal and external supply chain opportunities that are likely to eventuate once
trade negotiations are completed and some form of normality returns to USA trade.

Our full year financial results to 31 March 2025 and further relevant commentary
will be released to the market on Thursday 29 May 2025.


Don Braid
Group Managing Director


Mainfreight Limited
2 Railway Lane, Otahuhu, Auckland 1062
PO Box 14038, Panmure, Auckland 1741
Email: don@mainfreight.com