Heartland 2025 Annual General Meeting

Heartland Group Holdings Limited | NZX/ASX: HGH | PO Box 9919, Newmarket, Auckland 1149 | heartlandgroup.info

NZX/ASX release
13 November 2025

Heartland 2025 Annual General Meeting

The Annual General Meeting (Annual Meeting) of Heartland Group Holdings Limited (Heartland)
(NZX/ASX: HGH) will be held online today at virtualmeeting.co.nz/hgh25 and in person at Hotel
Ashburton, Ashburton, New Zealand, commencing at 10am (New Zealand time).

Shareholders joining the online meeting will require their shareholder number for verification
purposes. From the online platform, shareholders will be able to view the presentation, vote and ask
questions during the meeting.

For more information about joining the online meeting, view the attached Virtual Annual Meeting
Online Guide.

Please find attached the following documents relating to the meeting:

1. Annual Meeting Presentation
2. Chair’s Address
3. Chief Executive Officer’s Address
4. NZ Bank Chief Executive Officer’s Address
5. AU Bank Chief Executive Officer's Address
6. Virtual Annual Meeting Online Guide.

The webcast will be available on Heartland’s website at heartlandgroup.info approximately 24 hours
after the conclusion of the live event.

– ENDS –

The person(s) who authorised this announcement:

Andrew Dixson
Chief Executive Officer

Greg Tomlinson
Chair of the Board

For further information, please contact:

Nicola Foley
Head of Corporate Communications & Investor Relations
+64 27 345 6809
nicola.foley@heartland.co.nz
Level 3, Heartland House, 35 Teed Street, Newmarket, Auckland, New Zealand

---

13 November 2025
Annual General
Meeting 2025

2
01Welcome and formalities
02Chair’s Address
03Heartland Group CEO’s Address
04Heartland Bank New Zealand CEO’s Address
05Heartland Bank Australia CEO’s Address
06Shareholder discussion
07Voting and conduct of poll
08Other business
Agenda

3
Other formalities
Proxies and postal votes received
Meeting procedures
Voting procedures and declaration of poll
Notice of meeting
Minutes of last Annual Meeting

4
Voting CardQuestion box
Voting and asking questions

5
Other formalities
Proxies and postal votes received
Meeting procedures
Voting procedures and declaration of poll
Notice of meeting
Minutes of last Annual Meeting

6
Greg Tomlinson Chair, Heartland Group
01
Chair’s
Address

7
Marking a 150-year milestone
Heartland’s origins date back to the establishment of the Ashburton Permanent Building &
Investment Society in 1875. In 2011, in the wake of the Global Financial Crisis, Heartland
emerged with a clear ambition to be a bank that could thrive by doing things differently.
Ashburton Permanent
Building & Investment
Society established,
later merged with
SMC Building Society
and Loan & Building
Society to become
CBS Canterbury.
187519231957200420112012201320142015201820222024
MARAC Finance established to
support the growth of small to
medium sized businesses.
Southern Cross, CBS
Canterbury and MARAC
merged to create Heartland
Building Society. Heartland
listed on the NZX. Heartland
later acquires PGG
Wrightson Finance.
Heartland Building Society
converted from
a building society to a
company and became
Heartland Bank Limited.
Heartland Bank Ltd
amalgamated with
its parent company, Heartland
New Zealand Ltd.
StockCo Australia
acquired.
Southern Cross opened in
Auckland offering North Island
customers investments,
savings, loans and day to day
accounts.
Australian Seniors Finance
and Sentinel established.
Heartland granted
its bank registration by
the Reserve Bank of New
Zealand.
Australian Seniors Finance
and Sentinel reverse
mortgage businesses
acquired.
Corporate restructure
completed. Heartland Bank Ltd
became a wholly-owned
subsidiary of new parent
company, Heartland Group
Holdings Ltd, which listed on
the NZX and ASX.
Challenger Bank Limited
acquired and subsequently
rebranded to Heartland Bank
Australia.
2025
Heartland completes
the operational
integration of its AU
businesses into
Heartland Bank
Australia, an APRA
regulated authorised
deposit-taking
institution.

8
Underlying
FY2025
FY2025FY2024Movement
NOI$322.8m$298.0m

$24.8m8.3%
OPEX$181.3m$124.9m

$56.4m45.2%
Impairment expense$71.6m$30.4m

$41.2m135.5%
NPAT$46.9m$102.7m

($55.8m)(54.4%)
NIM3.56%3.64%

(8 bps)
CTI ratio56.2%41.9%

1425 bps
Impairment expense ratio
1
1.00%0.44%

56 bps
ROE4.2%9.8%

(578 bps)
EPS5.0 cps13.5 cps

(8.5 cps)
Receivables
2
$7,156m$7,241m

($85m)
2
(1.2%)
2
Note: See page 2 of Heartland’s 1Q2026 investor presentation (IP) for a definition of underlying financial metrics and details of 1Q2026
one-offs. The investor presentation of Heartland’s FY2025 financial results released on 21 August 2025 includes at page 7 details of the
FY2025 one-offs and at page 48 general information about Heartland’s use of non-GAAP financial measures.
1
Impairment expense as a percentage of average Receivables.
2
Receivables also includes Reverse Mortgages and the impact from FX changes.
In review
UnderlyingUnderlying guidance
Q1 FY2026
3Q20254Q20251Q2026FY2026
NOI$81.4m$83.9m$86.5m
No guidance providedOPEX$46.3m$44.9m$46.3m
Impairment expense$11.1m$10.0m$7.0m
NPAT$17.1m$18.4m$23.6m≥$85m
Average NIM3.69%3.87%3.89%>3.90%
Exit NIM3.66%3.93%3.85%>3.95%
CTI ratio56.8%53.5%53.5%<53.5%
Impairment expense ratio
1
0.63%0.56%0.39%<0.55%
ROE5.6%6.1%7.6%≥7%
EPS1.8cps2.0cps2.5cpsNo guidance provided
Receivables
2
$7,224m$7,156m$7,250m
Summary of consolidated group key financial metrics
Building on the momentum achieved in 2H2025, Heartland delivered a solid
performance for Q1, improving profitability and ROE across the quarter.
Heartland is on track to deliver an underlying NPAT of >$85m for FY2026.

9
Geoff
Summerhayes
Chair & Independent
Non-Executive Director
Shane Buggle
Independent
Non-Executive Director
Lyn McGrath
Independent
Non-Executive Director
Vivienne Yu
Independent
Non-Executive Director
Leanne Lazarus
Non-Independent
Non-Executive Director
Bruce Irvine
Independent
Non-Executive Director
Andrew Dixson
Non-Independent
Non-Executive Director
Greg Tomlinson
Chair & Non-Independent
Non-Executive Director
Kate Mitchell
Independent
Non-Executive Director
John Harvey
Independent
Non-Executive Director
Simon Beckett
Independent
Non-Executive Director
Rob Bell
Independent
Non-Executive Director
Note: See heartlandgroup.info/about-heartland/board-of-directors for full profiles.
Heartland Group
Bruce Irvine
Chair & Independent
Non-Executive Director
John Harvey
Non-Independent
Non-Executive Director
Kate Mitchell
Non-Independent
Non-Executive Director
Shelley Ruha
Independent
Non-Executive Director
Simon Tyler
Independent
Non-Executive Director
Andrew Dixson
Non-Independent
Non-Executive Director
Heartland Bank New ZealandHeartland Bank Australia
Board of directors

10
Michelle Winzer
Chief Executive Officer
Joined in 2024
David Brown
Chief Risk Officer
Joined Challenger Bank in 2021
Sarah
Burgemeister
General Counsel
Joined Heartland Finance in 2023
Medina Cicak
Chief Commercial Officer
Joined in 2024
Richard Collier
Chief Financial Officer
Joined Challenger Bank in 2024
Vaughan Dixon
Chief Technology & Operations
Officer
Joined in 2024
Michael Drumm
Chief Operating Officer
Joined in 2015
Lana West
Chief People & Culture Officer
Joined in 2021
Phoebe Gibbons
Chief Legal Officer
Joined in 2020
Rebecca Thomas
Chief Digital Transformation
Officer
Joined in 2025
Peter Griffin
Chief Commercial Officer
Joined in 2011
Alistair Scott
Chief Auto & Asset Finance Officer
Joined in 2025
Andrew Dixson
Chief Executive Officer
Joined in 2010
Michael Jonas
Chief Strategy Officer
Joined in 2022
Management
Leanne Lazarus
Chief Executive Officer
Joined in 2022
Andy Wood
Chief Risk Officer
Joined in 2022
Kerry Conway
Chief Financial Officer
Joined in 2024
Heartland Bank New Zealand
Heartland GroupHeartland Bank New Zealand cont.Heartland Bank Australia
Note: See heartlandgroup.info/about-heartland/management for full profiles.

11
1
Underlying ROE refers to ROE calculated using underlying results.
2
Underlying EPS refers to EPS calculated using underlying results.
3
Subject to the Board considering Heartland’s capital needs, ROE accretive growth opportunities, balance sheet flexibility and financial performance.
52%
2H2025 payout ratio
Shareholder return
8.2
7.4
0.4
7.8
6.1
4.6
16.0
13.5
5.0
FY23FY24FY25
InterimFinal
12.1%
10.2%
1.9%
10.9%
9.8%
6.0%
11.9%
9.8%
4.2%
FY23FY24FY25
1H2H
Underlying ROE
1
Underlying EPS (cps)
2
4.0 cps
Total dividend for FY2025
The Board continues to target a total dividend payout ratio
of at least 50% of underlying NPAT in FY2026.
3
•While ROE and EPS are below historic levels, Heartland
saw a strong rebound in 2H2025, with underlying ROE
1
of
6.0% and underlying EPS
2
of 4.6 cps.
•This positive momentum continued in Q1, with underlying
ROE of 7.6% and underlying EPS of 2.5 cps.

12
FY2026 outlook
Maintaining a refined strategic focus on core product sets
•NZ bank: Reverse Mortgages, Rural Lending, Motor Finance, Asset Finance, Deposits
•AU bank: Reverse Mortgages, Livestock Finance, Deposits.
Core lending growth.
Expanding further into Reverse Mortgages where the addressable markets present a significant growth opportunity.
Operational cost control.
Leveraging technology to unlock efficiency, scalability and future growth.
Continuing to prioritise efficient use of capital.
Heartland is well positioned to face the future with great confidence. Its focus for FY2026 is on:

13
Heartland in the community
Through the Heartland Trust,
Heartland Bank supported
17 organisations across
New Zealand in FY2025, with
grants totalling $465,000.
Mid Canterbury organisations:
•The Ashburton Schools Music Festival
•Ashburton Performing Arts Centre
•Ashburton Age Concern
•Christchurch Boys High School Rowing
•The Mid Canterbury Tennis Centre
Charitable Trust
•Christchurch Word Festival
•Boost Literacy Programme
•Tātai Whetū Waitaha
Reo Takeuchi – Karate-ka at Tātai Whetū Waitaha.
Andrew Wilson, Heartland Bank Regional Manager -
Ashburton, opening the annual Heartland Bank Schools’
Music Festival, June 2025.
Boost Literacy Programme.
Trustees: Bruce Irvine, Sir Christopher Mace, Graham Kennedy, John Harvey.
Note: The Heartland Trust is a registered charitable trust which is independent from, but closely supported by, Heartland Bank.

14
Andrew Dixson Chief Executive Officer, Heartland Group
02
Heartland Group
CEO’s Address

15
A year of significant reset, change and integration.
Heartland prioritised capital efficiency during FY2025, restoring a superior margin and actively
derisking its lending portfolios to strengthen its foundations for the future.
1
5
Integration
•Completed the operational integration of our
AU businesses into Heartland Bank AU,
creating a new and unique bank.
•The AU funding transition has been
successful, as deposits now form 86% of the
bank’s funding.
•As the listed parent company of two banks,
Heartland’s operations are now focused on
group strategy, investor relations, corporate
finance, capital allocation, and strategic and
risk management oversight of each bank.
Change
•A substantial increase in impairment expense
was incurred in 1H2025 in response to
ongoing economic deterioration in NZ, and to
derisk and reposition some of the NZ bank’s
lending portfolios.
•Necessary changes made to collections and
recoveries policies, processes and leadership
have delivered early, tangible improvements,
with recovery efforts outperforming
expectations and total Motor Finance arrears
now outperforming the industry average.
1
Reset
•NPAT of $38.8m. Underlying NPAT of
$46.9m, meeting underlying NPAT
guidance of at least $45m.
•Restored NIM to near-historic levels, with
each bank delivering strong exit margins.
•Strong Reverse Mortgage growth
momentum within both banks.
•Capital optimisation through several key
initiatives and accelerated NSA realisation
is enabling capital to be redeployed to
high-return core lending portfolios.
FY2025 summary
1
Industry average arrears are based on auto arrears as at September 2025, reported by Centrix in its Credit Insights Report, October 2025.

16
1
6
Non-strategic assets (NSA)
NSA realisation accelerated in Q1 and is exceeding Heartland’s
estimates, with momentum continuing early into Q2.
By the end of this calendar year, we estimate the total value of NSAs will be
$179.5 million – a reduction of $358.1 million, or 66.6%, since 30 June 2024.
Note: NSAs are primarily NZ assets that are outside of Heartland’s core lending strategy, or do not deliver threshold ROE. For more information, see Heartland’s FY2025 investor presentation available at heartlandgroup.info.
1
Includes Online Home Loans and old residential mortgages.
Outstanding balance1Q2026 realisation
AssetNZ($m)30 June 202530 Sep 2025ActualTarget
Rural Relationship
Total ($m)
112.0102.99.113.9
Capital ($m)
17.116.01.11.8
Business Relationship
Total ($m)
47.839.38.43.4
Capital ($m)
6.96.70.20.3
Home Loans
1
Total ($m)
171.7125.746.033.1
Capital ($m)
10.27.52.71.6
Properties
Total ($m)
16.216.10.1-
Capital ($m)
2.62.7--
Investment Properties
Total ($m)
4.44.4-2.0
Capital ($m)
0.60.6-0.2
Equity Investments (NZ)
Total ($m)
7.0
1.1
5.9-
Capital ($m)
4.50.73.8-
Equity Investments (AU)
Total ($m)
5.7
6.0
--
Capital ($m)
5.76.0--
Total NSAs
Total ($m)
364.8295.5
69.652.4
Capital ($m)
47.640.1
7.83.9
0
50
100
150
200
250
300
350
400
450
3Q254Q251Q262Q263Q264Q26FY27+
$m
NSA realisation progress
Total ($m) EstimateCapital ($m) EstimateTotal ($m) ActualCapital ($m) Actual

17
Looking ahead, Heartland expects to deliver an underlying
ROE of at least 7% and an improved underlying NPAT of at
least $85 million, with a focus on two critical themes:
Looking forward
Heartland will host an investor day in March 2026 following Heartland’s interim financial results announcement
due to take place on Thursday 26 February 2026.
Note: The FY2026 guidance detailed above is subject to change once the impact of the technology investment required to deliver against Heartland’s technology strategy is known. Heartland
expects the difference between reported and underlying NPAT in FY2026 to be limited only to any fair value changes on equity investments held and other one-off non-recurring expenses.
Underlying FY2026 guidance
NPAT≥$85m
ROE≥7%
Average NIM>3.90%
Exit NIM>3.95%
CTI ratio<53.5%
Impairment expense ratio<0.55%
1
Technology uplift
Increase process automation to improve customer
experience and deliver true operating leverage.
2
Capital efficiency
Ensure capital is deployed efficiently into ROE accretive
activity against a backdrop of continued regulatory change.

18
Leanne Lazarus Chief Executive Officer, Heartland Bank New Zealand
03
Heartland Bank
NZ CEO’s Address

19
Heartland Bank’s vision is to be New Zealand’s leading specialist bank, with a superior customer and
originator experience, low CTI ratio and a strong ROE.
1
9
Growth
•Growth focus on specialist lending
portfolios.
•Leveraged Heartland Bank’s position as
the reverse mortgage market leader to
launch Village Access Loans.
•Launched Marac Marketplace, a new
online marketplace for vehicle
purchasing and financing.
•Winding down activity that no longer
fits strategically, allowing capital to be
reallocated to core lending portfolios
which achieve strong returns.
Quality
•Motor Finance:
•Introduced new credit decisioning scorecards.
•Shifted focus from brokers, to higher quality
direct channels, franchise dealers and branded
distribution partners.
•The introduction of more prescriptive
collections, recoveries and write-off strategies
has had a positive effect on asset quality.
•Business Finance:
•Trading conditions remain challenging,
impacting growth and arrears.
•Working closely with customers in arrears, and
starting to see an improvement in NPLs early in
Q2 (NPLs down $5.9m as at 31 October 2025).
Efficiency
•Costs increased in FY2025. Cost growth
stabilised in 2H2025 and remained stable
through Q1.
•Actively managed cost of funds to end
FY2025 with a strong margin. This trend
continued through Q1, with an exit NIM
1
of 4.08%.
•Maintained a BBB credit rating.
NZ banking: Business performance
1
The Q1 exit NIM is the NIM achieved on 30 September 2025 (rather than the average NIM for Q1).

20
Support more New Zealanders with their specialist banking needs
Reverse Mortgages, Livestock Finance, Motor Finance, Asset Finance, Savings & Deposits
1
Heartland Bank has a clear focus on building on its strengths across its core portfolios.
2
Continue to invest in technology and automation
to enhance efficiency, scalability, and customer experience
NZ banking: Looking forward

21
Michelle Winzer Chief Executive Officer, Heartland Bank Australia
04
Heartland Bank
AU CEO’s Address

22
Heartland Bank Australia’s vision is to be Australia’s leading specialist bank,
enriching customers’ lives through financial freedom.
2
2
Diversify distribution
•Deepened relationships with accredited
partners and brokers. This is evidenced
by >50% of new Reverse Mortgage
business coming from the broker
network.
•Expanded Livestock Finance
partnerships and sponsorships to
include agents. The agent network
provides access to farming communities
Australia-wide.
•Expansion of Deposit partners provides
access to broader customer segments
and has enabled Heartland Bank AU to
achieve the growth required to fund
core lending activity.
Service excellence
•Significantly reduced application
turnaround times, from over 60 days
to 8 days.
•Implemented a new customer
satisfaction survey, providing real
time insights to continually improve
service.
•Enhanced customer engagement and
retention activity ensuring
repayment volumes held steady at
~AU$23m per month.
•New leadership is guiding customer
service teams to deliver exceptional
customer service for the direct
channel.
Business growth
•Business momentum improved half-on-half during
FY2025, and continued into FY2026:
•Reverse Mortgages achieved a record level of
funding in October, >AU$50m, YTD taking the
book to >AU$2.1b.
•Livestock Finance returned to positive growth
with a record result in October, post the
seasonally colder months in Q1.
•Strong demand for deposit products is funding
organic growth.
•Repaid final outstanding AU$100m MTN before
its contractual maturity in October 2027.
•The bank is now 86% deposit funded within 18
months of its acquisition.
AU banking: Business performance

23
2
3
AU banking: Looking forward
Heartland Bank AU is focused on maintaining momentum, simplifying its business, and
strengthening its partnerships.
Leverage market leadership in Reverse Mortgages
to meet the significantly untapped potential available to us.
1
2
Implement a new unified origination and servicing platform
to support with our growth ambitions and digitisation

24
05
Shareholder
discussion

25
06
Voting and
conduct of poll

26
Resolution 1:
Auditor’s Remuneration
That the Board be authorised
to fix the remuneration of
Heartland’s auditor, PwC,
for the financial year ending
30 June 2026.

27
Mark your intention on your Voting Card by selecting
“For”, “Against” or “Abstain” at Item 1.
For those online, please click “Submit Vote” on the
bottom of the voting card to lodge your vote.
Once you have voted:
•Place your Voting Card in the ballot boxes as they are
passed around. If you need help, please raise your hand.
•Voting will be open until the close of the meeting.
•The results of the poll will be advised on the NZX and
ASX after the end of the meeting.
Voting and polling procedures

28
07
Other business

Investor information
For more information
heartlandgroup.info/investor-information
Investor & media relations
Nicola Foley
Head of Corporate Communications & Investor Relations
+64 27 345 6809
nicola.foley@heartland.co.nz
Thank you

---

Heartland Annual Meeting 2025: Chair’s Address

Good afternoon, ladies and gentlemen. Thank you for joining us today.
1. Marking a 150-year milestone
It is a pleasure to be in Ashburton for this year’s Annual General Meeting (AGM). 2025 marks
150 years since Heartland Group Holding Limited’s (Heartland) (NZX/ASX: HGH) earliest
predecessor, the Ashburton Permanent Building & Investment Society, was established. The
last time we gathered here was in 2012, making our return even more special as we mark this
significant milestone together.
As we recognise our rich 150-year history, this is a moment to pause, reflect and celebrate how
far we’ve come. It is a tribute to the many people who have shaped the organisation over the
years: the founders of our predecessor institutions, the leaders who guided us through times of
change, the employees whose commitment and hard work have shaped our success, the
customers who have placed their trust in us, and the shareholders who have supported our
vision.
One of those leaders was Graham Kennedy, who we will hear from shortly. Graham is a former
Chair of Ashburton Permanent, former Director of Heartland Bank Limited, and current Trustee
of the Heartland Trust
1
, Heartland’s registered charitable trust.
2. In review
While we can trace our history back to Ashburton in 1875, Heartland as a banking organisation
is still very young. Heartland emerged in 2011, in the wake of the global financial crisis with a
clear ambition to build a bank that could thrive by doing things differently. Heartland chose to
concentrate on specific market segments. This strategy has served us well, and we have come
a long way since formation.
Gross Finance Receivables
2
(Receivables) have grown from $1.7 billion at the end of the
financial year ended 30 June 2011, to $7.2 billion at the end of the financial year ended 30 June
2025 (FY2025). In the same period, Heartland’s net profit after tax (NPAT) has increased from

1
The Heartland Trust is a registered charitable trust which is independent from but closely supported by
Heartland.
2
Gross Finance Receivables (Receivables) also includes Reverse Mortgages and the impact from foreign
currency exchange (FX) changes.

2

$7.1 million to $38.8 million (or $46.9 million on an underlying basis
3
).
Building on the momentum achieved in the second half of FY2025, Heartland delivered a solid
performance in the first quarter of the financial year ending 30 June 2026 (FY2026) (1Q2026),
and is on track to deliver an underlying NPAT of at least $85 million for FY2026.
But we are still young, and just at the beginning of our journey to achieve scale.
In New Zealand, FY2025 saw us renew our focus in certain asset classes which provide an
appropriate return. We are focused on growing our four core product sets – Reverse Mortgages,
Rural Finance, Motor Finance and Asset Finance – and exiting assets that are no longer a
strategic fit. Andrew Dixson will provide more information about our non-strategic asset (NSA)
progress which is ahead of plan.
The Reverse Mortgage portfolio is our core product and where effort is being placed in New
Zealand. Our early mover advantage positions us to extract significant value from this segment.
In other areas, business performance has been slower. In Motor Finance, we have made
meaningful progress in arrears management and have achieved notable successes in
recoveries and collections. We are also being more selective in terms of who we are partnering
with to ensure we’re writing quality business. While these improvements have contributed to
the portfolio’s contraction, they ensure Heartland remains well-positioned in a changing
market. Leanne Lazarus will provide a more detailed update.
With regard to Australia, the authorised deposit taking institution (ADI) acquisition and the
regulatory requirements associated with it placed increased cost on Heartland. The operational
integration of our existing Australian businesses into the ADI was a big change to the
organisation. With access to retail deposits through the ADI licence, we have strengthened our
ability to compete and grow in Australia. The Reverse Mortgage book stands out as a significant
area of opportunity, and our efforts here are already delivering promising results. While
Livestock Finance hasn’t performed as well as we would have hoped, we understand the

3
Certain financial measures are presented on a reported and underlying basis. Reported financial
measures are prepared in accordance with NZ GAAP and include the impacts of positive and negative
one-offs, which can make it difficult to compare performance between periods. The use of underlying
results (which are non-GAAP financial information) is intended to allow for easier comparability between
periods and is used internally by management for this purpose. The Investor Presentation for Heartland’s
FY2025 financial results released on 21 August 2025 includes at page 7 details of the FY2025 one-offs
and at page 48 general information about Heartland’s use of non-GAAP financial measures. See page 2 of
Heartland’s 1Q2026 investor presentation for details of the 1Q2026 one-offs.

3

challenges and remain committed to this segment. Michelle Winzer will provide a more detailed
update on the Australian bank.
3. Board and Management updates
Moving now to Board and Management updates. Since our AGM last year, a number of
appointments have taken place to ensure Heartland’s teams have the skills and support
needed to deliver value for customers and shareholders.
On 3 February 2025, Andrew Dixson was appointed a Non-Independent, Non-Executive Director
of Heartland Bank Australia Limited (Heartland Bank Australia).
In February this year, Michael Jonas was appointed to the new role of Chief Strategy Officer of
Heartland.
Within the New Zealand bank, Peter Griffin was appointed to the role of Chief Commercial
Officer, and we’ve welcomed Alistair Scott as Chief Auto & Asset Finance Officer, and Rebecca
Thomas as Chief Digital Transformation Officer.
4. Shareholder return
As our renewed strategic focus beds in, we have seen improvements begin to flow through to
key metrics essential to shareholder return. While Heartland’s return on equity (ROE) and
earnings per share (EPS) are below historic levels, we saw a strong rebound in the second half
of FY2025 with ROE
4
at 6% and EPS
5
at 4.6 cents per share (cps). We have seen this positive
momentum continue into the first quarter of FY2026, with underlying ROE for the quarter of
7.6% and underlying EPS of 2.5 cps.
Regarding dividends, in September we paid a final dividend of 2 cps, bringing the total dividend
for FY2025 to 4 cps. The payout ratio for the second half of FY2025 of 52% was in line with
Heartland’s target dividend payout ratio of least 50% of underlying NPAT.
Our dividend policy reflects the realities of our growth strategy. Heartland Bank Australia is a
growth investment for Heartland, absorbing capital to support expansion and innovation. While
this requires patience from shareholders, we are confident that our investments will deliver
sustainable returns over time. We remain committed to balancing growth with the delivery of
appropriate returns to our shareholders.

4
Underlying ROE refers to ROE calculated using underlying results.
5
Underlying EPS refers to EPS calculated using underlying results.

4

5. Outlook
Our focus for FY2026 is on:
• maintaining a refined strategic focus
• core lending growth
• expanding further into Reverse Mortgages where the addressable markets present a
significant growth opportunity
• operational cost control
• leveraging technology to unlock efficiency, scalability and future growth, and
• continuing to prioritise efficient use of capital.
Heartland is well positioned to face the future with great confidence. We are investing in areas
of opportunity and remaining agile in response to changing market conditions. Our renewed
focus on our core product sets reflects our belief in the value of these segments. With your
continued support and patience, I am confident that Heartland will deliver on its promise of
sustainable profitable growth and enhanced shareholder return.
I would now like to invite Graham Kennedy to provide an update on the Heartland Trust’s
charitable activities.
Graham Kennedy to address the meeting.
6. Conclusion
On behalf of the Board, thank you for your trust in Heartland, and for joining us at today’s
Annual Meeting.
I will now ask Andrew Dixson to address you.

---

Heartland Annual Meeting 2025: Chief Executive Officer’s Address

1. Introduction
Good morning and welcome all.
Thank you for joining us at this year’s Annual General Meeting.
2. Reset, change and integration
The financial year ended 30 June 2025 (FY2025) presented a unique set of challenges and
opportunities for Heartland Group Holdings Limited (Heartland) (NZX/ASX: HGH), marked by a
period of significant reset, change and integration.
Reset
We have deliberately recalibrated our strategy, sharpened our focus on core products, and
taken decisive steps to ensure capital is allocated where it delivers the strongest returns. This
reset has laid the groundwork for a more resilient and agile banking group and is something we
will continue to test on an ongoing basis.
Our net profit after tax (NPAT) for the year was $38.8 million. On an underlying basis
1
, NPAT was
$46.9 million, which while meeting underlying NPAT guidance of at least $45 million, does not
represent our desired performance for Heartland, following a challenging operating
environment and the impact of necessary strategic changes.
Importantly, we restored our net interest margin (NIM) to near-historic levels, with each bank
delivering strong exit margins. This positive trend continued in the first quarter of the financial
year ending 30 June 2026 (FY2026) (1Q2026), as Heartland delivered a solid performance,
improving profitability and return on equity across the quarter. Overall NIM continued to expand
and cost growth remained stable.

1
Certain financial measures are presented on a reported and underlying basis. Reported financial measures
are prepared in accordance with NZ GAAP and include the impacts of positive and negative one-offs, which can
make it difficult to compare performance between periods. The use of underlying results (which are non-GAAP
financial information) is intended to allow for easier comparability between periods and is used internally by
management for this purpose. The Investor Presentation for Heartland’s FY2025 financial results released on
21 August 2025 includes at page 7 details of the FY2025 one-offs and at page 48 general information about
Heartland’s use of non-GAAP financial measures. See page 2 of Heartland’s 1Q2026 investor presentation for
details of the 1Q2026 one-offs.

2

The strong Reverse Mortgage momentum experienced within both banks through FY2025 was
maintained in 1Q2026, while subdued markets and usual seasonal contractions impacted
growth in Heartland’s other core lending portfolios.
Capital optimisation was a key priority in FY2025 and a critical part of our reset. This was
reflected in several initiatives undertaken, including the run-off of Unsecured Lending and the
accelerated realisation of non-strategic assets (NSA), enabling the redeployment of capital into
high-return core lending portfolios. I will speak more about NSA realisation shortly.
Change
A substantial increase in impairment expense was incurred in the first half of FY2025 (1H2025)
in response to ongoing economic deterioration in New Zealand, and to derisk and reposition
some of the New Zealand bank’s lending portfolios. Necessary changes made to collections
and recoveries policies, processes and leadership have delivered early, tangible improvements,
with recovery efforts outperforming expectations and total Motor Finance arrears now
outperforming the industry average.
2

Integration
As Greg discussed, we also completed the operational integration of our Australian businesses
into Heartland Bank Australia Limited (Heartland Bank Australia), creating a new and unique
bank. The Australian funding transition has continued to be successful, as deposits now form
86% of the bank’s funding, providing a deep, stable and diverse platform to efficiently fund the
significant lending opportunity we have ahead of us.
As a condition of the authorised deposit-taking institution (ADI) acquisition, Heartland required
an evolution of its role as the listed parent company of two banks. A number of responsibilities
shifted from Heartland to the respective banks, with Heartland’s operations now focused on
group strategy, investor relations, corporate finance, capital allocation, and strategic and risk
management oversight of each bank.
3. Non-Strategic Assets
We made strong progress in the realisation of NSAs in FY2025, and I’m pleased to report that in
the first quarter of FY2026, our NSA realisation has not only continued at pace but has
exceeded our own quarterly estimates. This momentum has carried into the second quarter.

2
Industry average arrears are based on auto arrears as at September 2025, reported by Centrix in its Credit
Insights Report, October 2025.

3

Key highlights include:
• Accelerated exits from Rural and Business Relationship borrowers, primarily through
the sale of security and refinancing. Notably, the largest Relationship exposure was
partially settled in 1Q2026, with the remaining refinance settled in October 2025. The
third largest Relationship exposure also went unconditional in September and was
repaid in early October.
• Home Loans (which closed to new business in March 2025) continues to run off ahead
of expectations, driven by early repayments.
• We achieved the unconditional sale of one of the two dairy farms, with settlement in
October 2025.
• We completed the full exit of Heartland’s shareholding in Harmoney, achieving a sale
price significantly above carrying value as at 30 June 2025. This generated a fair value
gain of $3.1 million, which was the key difference between our underlying and reported
results for 1Q2026, and is expected to remain the key difference between underlying
and reported results for the remainder of FY2026.
• Additionally, the sale of Heartland Bank Australia’s shareholding in Alex Bank was
settled in October 2025.
By the end of this calendar year, we estimate the total value of NSAs will be $179.5 million – a
reduction of $358.1 million, or 66.6%, since 30 June 2024.
4. FY2026 outlook
Looking ahead to FY2026, Heartland expects to deliver an underlying return on equity (ROE) of
at least 7% and an improved underlying NPAT of at least $85 million.
While Greg mentioned several areas of focus for FY2026, two critical themes are:
1. increasing process automation to improve customer experience and deliver true operating
leverage
2. ensuring capital is deployed efficiently into ROE accretive activity against a backdrop of
continued regulatory change.

Technology uplift
Regarding technology uplift, targeted investments in technology and automation will enable
sustainable growth and operational excellence into the future.

4

In late 2023, Heartland Bank Limited (Heartland Bank) completed its upgrade to a modern core
banking system. Since then, Heartland has focused on executing and integrating strategic
acquisitions in Australia. With these complete, in FY2026 Heartland will invest in a targeted
technology uplift to resume and reinvigorate digital transformation within each bank. Leanne
and Michelle will discuss this in their addresses. This technology uplift will modernise existing
infrastructure and deliver new capability within the respective banks, resulting in greater
efficiency, an enhanced customer, intermediary and employee experience, and positioning
both banks to be able to meet customer demand at scale.
Capital efficiency
Regarding capital efficiency, Heartland welcomes and will continue to participate in the
Reserve Bank of New Zealand’s (RBNZ’s) review of key capital settings. We see this as a critical
pathway to support Heartland Bank’s ability to remain competitive, reduce the cost to the end
customer, and deliver a significantly improved ROE. Heartland Bank made a submission as part
of the RBNZ’s consultation process, with a particular focus on capital levels, asset risk-weights
and the composition of regulatory capital. We remain fully supportive of the RBNZ’s objective to
ensure a resilient and stable financial system that protects depositors and the broader
economy.
5. Investor day and reset long-term ambitions
We will present our updated long-term ambitions at an investor day, now scheduled to take
place in March 2026, following Heartland’s interim financial results announcement due to take
place on Thursday 26 February 2026. This timing will allow each bank to complete contract
negotiations with their preferred vendors for their respective technology initiatives and
considers investors’ availability over the festive period. At the investor day, we will share the key
metrics and growth drivers that will underpin our ambitions through to the financial year ending
30 June 2030, including our continued focus on ROE, core lending growth, and operational
efficiency.
6. Conclusion
In closing, I want to acknowledge the resilience and commitment of our people, the support of
our shareholders, and the trust of our customers. We have faced into a number of issues, made
the necessary changes, and are beginning to see the benefits. We have made significant
progress, the early signs of positive change are encouraging, and I am confident that we can
deliver on our promise of sustainable, profitable growth and enhanced shareholder return.

5

I will now hand over to Leanne Lazarus, followed by Michelle Winzer, to provide updates on our
respective New Zealand and Australian banks.

---

Heartland Annual Meeting 2025: NZ Bank Chief Executive Officer’s Address

1. Introduction
Kia ora koutou, hello everyone,
It is a privilege to join you in Ashburton for this year’s Annual General Meeting, marking 150
years since Heartland Group Holdings Limited (Heartland) (NZX/ASX: HGH) and its
subsidiaries’ (the Group) beginnings in this community – a testament to our lasting partnership
and heritage. As a region, Canterbury hosts 13% of New Zealand’s population, but provides
26% of Heartland Bank Limited’s (Heartland Bank’s) deposits – punching twice above its
weight in funding Heartland Bank’s assets.

2. Business performance
Turning to the financial year that has been, as mentioned, financial year ended 30 June 2025
(FY2025) was a year of reset and change for the New Zealand bank.

At the beginning of FY2025, we faced some challenges, including the need to respond
decisively to a changing economic environment. We took proactive steps to de-risk and
reposition parts of our lending portfolio, resulting in a $49.6 million impairment expense. While
this impacted our financial results for the first half of FY2025 (1H2025), it was in the long-term
interests of our business, our customers and Heartland’s shareholders.

Since then, we have:
• refined our core product sets – these are Reverse Mortgages (which continues to
experience strong growth), Rural Finance, Motor Finance, Asset Finance, and Savings &
Deposits
• focused on improving asset quality
• committed to greater cost discipline, and
• accelerated non-strategic asset (NSA) realisation to enable capital to be reallocated to
high-return core lending products.

Today, Heartland Bank remains strong, stable, and well-capitalised.

2

We have also made changes to our leadership team to ensure we have the right expertise to
drive sustainable growth within our core product sets and to accelerate digitalisation and
automation, and deliver an outstanding customer and originator experience.

Our strategy is clear and well-defined, with a vision to be New Zealand’s leading specialist
bank. Underpinned by the three pillars – quality, efficiency, and growth, we are already
beginning to see the benefits of this strategic reset.

3. Quality
As mentioned, we have refined our lending strategy to support quality, sustainable growth
within our core product sets.

We have introduced new credit decisioning scorecards for Motor Finance and shifted our Motor
Finance focus from lending originated through brokers, to lending through higher quality direct-
to-consumer channels (known as Motor Direct), franchise dealers and branded distribution
partners. The introduction of more prescriptive collections, recoveries and write-off strategies
has had a positive effect on asset quality, as Greg and Andrew have described. We are still on
track to have no Motor Finance arrears greater than 180 days past due by 30 June 2026.

For our Business Finance
1
customers, trading conditions have been challenging. This was
reflected in arrears which increased through FY2025 and into the first quarter of the financial
year ending 30 June 2026 (FY2026) (1Q2026), however we are now starting to see an
improvement early in the second quarter of FY2026 (2Q2026). At the end of October, total
Business Finance arrears were down $2.9 million, with non-performing loans down $5.9 million.

Our teams are still working closely with customers to support them through this period, and we
expect to see further reduction in non-performing loans as we near the end of the calendar year.
The portfolio remains well provisioned, reflecting the secured nature of this lending.

4. Efficiency
Our focus on efficiency is about disciplined cost management and efficient use of capital. It
also describes our focus on automation to increase speed and ease for both our customers and
employees.

1
Business Finance includes Asset Finance and Business Relationship. Excludes NSAs.

3


Costs increased in FY2025, primarily due to non-repeating benefits in the financial year ended
30 June 2024 (FY2024), investment in core functions to enable higher quality growth and to
address additional regulatory oversight responsibilities arising from owning an Australian
authorised deposit taking institution, and the amortisation of the core banking system upgrade
which completed in late 2023. Cost growth stabilised in the second half of FY2025 and
remained stable through 1Q2026.

We have actively managed our cost of funds to end FY2025 with a strong margin. Net interest
margin (NIM) was 3.87%, with an exit NIM
2
of 4.13%. We are pleased to see this positive trend
continue through 1Q2026 to 4.06%, with an exit NIM
3
of 4.08%.

Leveraging the completion of our core banking system upgrade in late 2023, we’re continuing to
invest in technology and automation to reduce manual ways of working, which limit how quickly
and easily we can convert demand into new business. This investment means we will be able to
deliver an even better experience for customers and enable scalable growth within our core
lending portfolios.

5. Growth
The NZ bank’s growth focus is on our specialist lending portfolios, where our customer value
proposition is strongest.
• We are continuing to see great momentum in Reverse Mortgages, with Gross Finance
Receivables (Receivables) up 14.0%
4
in 1Q2026, reflecting solid ongoing demand.
• Excluding Livestock Finance, which experienced the usual seasonal contraction, the
Rural portfolio
5
grew by 6.1%
4
in 1Q2026.
• Subdued markets impacted growth within Motor Finance and Asset Finance. The recent
Motor Finance retraction also reflects our shift to higher quality distribution channels,
better positioning the portfolio for quality growth.


2
The FY2025 exit NIM is the NIM achieved on 30 June 2025 (rather than the average NIM for FY2025).
3
The 1Q2026 exit NIM is the NIM achieved on 30 September 2025 (rather than the average NIM for
1Q2026).
4
Annualised growth.
5
Rural includes Rural Relationship, Rural Direct and Livestock Finance. Excludes NSAs.

4

Building on our strength as the reverse mortgage market leader, we launched Village Access
Loans, expanding our offering to better serve older New Zealanders.
We have also leveraged our vehicle lending expertise by introducing Marac Marketplace, a new
online platform that simplifies vehicle purchasing and financing, further strengthening our
presence in the motor vehicle finance market.
As earlier covered, during FY2025 and FY2026, the NZ Bank’s focus was – and is – on winding
down assets that are no longer a strategic fit. This is progressing ahead of schedule, with
several large rural and business exposures settled in full.
This accelerated progress, together with holding firm on the quality of business that we are
willing to write, contributed to a retraction in Heartland Bank’s lending portfolio over the year.
These decisions were made with prudence – prioritising quality, stability and resilience.

6. Looking ahead
We have a clear focus for FY2026 of building on our strengths across our core portfolios:
• helping older New Zealanders achieve financial freedom through Reverse Mortgages
• supporting growth for farmers
• making it easier for customers to get on the road or invest in new assets
• offering competitive deposit rates, and
• investing in technology to enhance efficiency, scalability, and customer experience.

Finally, I want to extend a heartfelt thank you to this community and our shareholders for
standing with us as we navigate change and position Heartland for continued success. Your
commitment has been foundational to our success, from multiple building societies to a trans-
Tasman banking group, and we are proud to call Ashburton home.

I will now hand over to Michelle Winzer to discuss the Australian bank.

---

Heartland Annual Meeting 2025: AU Bank Chief Executive Officer’s Address

Good morning, everyone.
I am very proud of the way we finished our first full year of operation in the Australian business
and the enterprise value we created in the financial year ended 30 June 2025 (FY2025). Our
strong performance has continued in the first four months of the financial year ending 30 June
2026 (FY2026) and we are well positioned to deliver on our commitments for the current
financial year.
1. Business performance
Our vision is to be Australia’s leading specialist bank with a focus on enriching customers’ lives
through financial freedom.
We are committed to our core specialist areas: Reverse Mortgages, Livestock Financing and
Deposits. Retaining this focus and deepening our expertise in these markets, will ensure we
deliver optimal value for our customers.
FY2025 was a year of reset for us, consolidating a bank with Heartland Group Holding Limited’s
(Heartland) (NZX/ASX: HGH) two existing non-bank finance companies to form Heartland Bank
Australia Limited (Heartland Bank Australia). We focused intensely on integration,
strengthening our leadership, and uplifting capability and processes to meet Australian
Prudential Regulation Authority (APRA) regulations and protect our customers.
We have improved our risk capability and formed partnerships to ensure the business can
achieve prudent growth into the future. The work completed in FY2025 has been critical to
establish a solid baseline for us to achieve our growth into the future.
As we said in our recent results announcements, and at the last Annual General Meeting, our
key areas of focus in the business remain:
- Business growth
- Service excellence, and
- Diversifying distribution.

2. Business growth
As our financial results demonstrated, we improved business momentum half-on-half during
FY2025, and this has continued into FY2026:
• Our Reverse Mortgages achieved a new record level of funding for October, over AU$50
million, and year-to-date taking our book to over AU$2.1 billion. Our pipeline of new
business is at record levels, putting us in a good position to achieve our FY2026 growth
aspirations.
• Livestock has returned to positive growth with a record result in October, post the
seasonally colder months in the first quarter. Purchases for both cattle and sheep are at
record levels and significantly higher than the prior 12-month rolling average.
• We continue to have strong demand for our deposit products which is funding organic
growth, and saw the repayment of our final outstanding AU$100 million medium-term
note before its contractual maturity in October 2027. The bank is now 86% deposit
funded within 18 months of its acquisition.
3. Service excellence
In relation to Service excellence, our key focus areas have been:
• Significantly reducing application turnaround time, from an over 60-day turnaround time
to 8 days.
• Implementing a new customer satisfaction survey, providing real time insights to
continually improve the service we provide.
• We have enhanced customer engagement and retention activity through insightful
communications. This ensured repayment volumes held steady at approximately AU$23
million per month, enabling new business to consistently surpass runoff and drive net
portfolio growth.
• New leadership guiding our customer service teams to deliver exceptional customer
service for our direct channel.
4. Diversifying distribution
In relation to Diversifying distribution, our key areas of focus have been:

• Deepening relationships and working closely with our accredited partners and brokers.
This is evidenced by more than half of new Reverse Mortgage business coming from the
broker network and underscoring its pivotal role in our distribution strategy.
• Expanding partnerships and sponsorships in the Livestock business to now include
agents. The agent network gives us access to farming communities Australia-wide.
• Similarly, our expansion of our partners in the deposit business has provided us with
access to broader customer segments and enabled us to achieve the growth required to
fund our lending.
5. Looking ahead
The work completed to set the business up in FY2025 has provided a strong platform for growth.
We executed a comprehensive and successful reset, consolidating our businesses, and taking
strong momentum into FY2026; our Reverse Mortgages are achieving accelerated growth, and
our Livestock business is recovering robustly, already showing double-digit growth in
applications in October. We have extensive market data to support our view of the potential
opportunity in Australia and have utilised these insights to develop a clearer go-to-market
strategy.
While reverse mortgage competition is increasing, with non-banks and fintechs demonstrating
interest in our specialist markets, our response remains disciplined and evidence-based, and
our market leadership positions us well to meet the significantly untapped potential available to
us. Our Australian reverse mortgage market share grew from 36% to 40% in FY2025.
1

Regarding our technology uplift, FY2026 will be a year of transformation for Heartland Bank
Australia. After completing a market search and selecting a preferred vendor, we have
embarked on a technology initiative to implement a new unified origination and servicing
platform. This initiative will support us with our growth ambitions and digitisation.
Costs related to this technology initiative are expected to be elevated in the second quarter of
FY2026 (2Q2026) as vendor negotiations and programme planning continues. We are now in
final contract stages and will present further detail on this initiative at the Investor Day early next
calendar year.

1
Australian Reverse Mortgage market share estimate based on APRA ADI data and public statements and
internal estimates for non-bank reverse mortgage lending.

In summary, we have the talent, clarity, and discipline to succeed. Our focus is now singular: to
maintain this momentum, simplify our business, and strengthen the partnerships that will
ensure we deliver exceptional, sustained value for our customers and Heartland’s
shareholders.
Thank you for your time today. I will now hand back to Greg.

---

Virtual
Meeting
Guide
MUFG Corporate Markets
A division of MUFG Pension & Market Services

Level 30, PwC Tower, 15 Customs Street West, Auckland 1010 | 0800 200 220 | meetings.nz@cm.mpms.mufg.com
MUFG Corporate Markets
A division of MUFG Pension & Market Services
Make sure your browser will work
by going to whatismybrowser.com
Supported browsers are:
• Chrome Version 44 and later
• Edge Version 92.0 and later
• Firefox Version 40.0.2 and later
• Safari MacOS 10.9 and later
Check your browser

Level 30, PwC Tower, 15 Customs Street West, Auckland 1010 | 0800 200 220 | meetings.nz@cm.mpms.mufg.com
MUFG Corporate Markets
A division of MUFG Pension & Market Services
You will need one of the
following to vote
If you’re an investor, you can find your
CSN/Holder Number on most investor
communications from us.
If you’re a proxy, your proxy number will be
sent to your email address one to two days
before the meeting.
Get ready to vote
A
Your CSN/
Holder Number
if you are an
investor
B
Your proxy
number if you
are an appointed
proxy
OR

Level 30, PwC Tower, 15 Customs Street West, Auckland 1010 | 0800 200 220 | meetings.nz@cm.mpms.mufg.com
MUFG Corporate Markets
A division of MUFG Pension & Market Services
Open your browser and go to
www.virtualmeeting.co.nz
Choose the meeting you want to watch from
the list and click the View Meeting button.
Register using your full name, mobile number,
email address, and participant type.
Read and accept the terms and conditions
before clicking on the Register and Watch
Meeting button.
Register for the meeting

Level 30, PwC Tower, 15 Customs Street West, Auckland 1010 | 0800 200 220 | meetings.nz@cm.mpms.mufg.com
MUFG Corporate Markets
A division of MUFG Pension & Market Services
The webcast will start by itself
when the meeting begins
If the webcast doesn’t start, press the play
button and check the volume on your device
is turned up. The meeting slides will be cycled
through while the webcast plays.
At the bottom are buttons for Get a Voting
Card, Ask a Question and a list of documents
available for download.
Watch the meeting

Level 30, PwC Tower, 15 Customs Street West, Auckland 1010 | 0800 200 220 | meetings.nz@cm.mpms.mufg.com
MUFG Corporate Markets
A division of MUFG Pension & Market Services
Register to vote by clicking on
the Get a Voting Card button
If you’re an investor, you will need to enter
your CSN/Holder Number.
If you’re an appointed proxy, you will need to
enter the proxy number in the Proxy Details
section, then click the Submit Details and
Vote button.
Get a voting card

Level 30, PwC Tower, 15 Customs Street West, Auckland 1010 | 0800 200 220 | meetings.nz@cm.mpms.mufg.com
MUFG Corporate Markets
A division of MUFG Pension & Market Services
Once you have your voting card,
tell us how you want to vote
You may need to use the scroll bar on the right
side of the voting card to see all resolutions.
Choose either Full Vote or Partial Vote using
the tabs. Click on either the For, Against, or
Abstain voting buttons. For a Partial Vote,
enter a number of votes—the total number of
votes you have are shown.
Enter your vote

Level 30, PwC Tower, 15 Customs Street West, Auckland 1010 | 0800 200 220 | meetings.nz@cm.mpms.mufg.com
MUFG Corporate Markets
A division of MUFG Pension & Market Services
Make sure you submit your vote
before the countdown timer
ends
Once you have finished voting, scroll down
to the bottom of the box and click on the
Submit Vote or Submit Partial Vote button.
You can close your voting card without
submitting your vote while voting is open.
Any votes you have already made are saved.
The voting card will be under the webcast
with a Not yet submitted message below.
You can edit your votes while voting is open
by clicking on Edit Card. This will re-open the
voting card with any previous votes made.
At the end of the meeting, a red bar with a
five-minute countdown timer will appear at
the top of the website advising the remaining
time to submit your voting cards. Once voting
has been closed, your vote can’t be changed.
Submit your vote

Level 30, PwC Tower, 15 Customs Street West, Auckland 1010 | 0800 200 220 | meetings.nz@cm.mpms.mufg.com
MUFG Corporate Markets
A division of MUFG Pension & Market Services
Only investors, proxies and
corporate representatives can
ask questions
If you have not registered a voting card,
you will be asked to enter your CSN/Holder
Number or proxy number before you can ask
a question.
Click on the Ask a Question button either at
the top or bottom of the page.
Ask a question

Level 30, PwC Tower, 15 Customs Street West, Auckland 1010 | 0800 200 220 | meetings.nz@cm.mpms.mufg.com
MUFG Corporate Markets
A division of MUFG Pension & Market Services
Select the category or resolution
for your question
Type your question in the Question box, and click
on the Submit Question button.
After submitting, click the View Questions button
to see your questions (only visible to you).
If your question has been answered and you want
to reply, submit another question.
Submit a question/reply

Level 30, PwC Tower, 15 Customs Street West, Auckland 1010 | 0800 200 220 | meetings.nz@cm.mpms.mufg.com
MUFG Corporate Markets
A division of MUFG Pension & Market Services
Title
Description
Body
Level 30, PwC Tower, 15 Customs Street West, Auckland 1010 | 0800 200 220 | meetings.nz@cm.mpms.mufg.com
MUFG Corporate Markets
A division of MUFG Pension & Market Services