Craigs Conference Presentation

Craigs Investment Partners Queenstown
Conference
Wednesday, 17 June 2026

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The information in this presentation is for information purposes and has been prepared by
Port of Tauranga Limited with due care and attention. However, neither the Company, nor any
of its Directors, officers, employees, contractors or agents, shall have any liability whatsoever
to any person, for any loss of damage resulting from the use or reliance on this presentation.
The information contained in this presentation is not intended to be relied upon as advice to
investors and does not take into account the investment objectives, financial situation or
needs of any particular investor.
Past performance is not indicative of future performance and no guarantee of future returns
is implied or given.
The information contained in this presentation should be considered in conjunction with the
Company’s latest audited financial statements which are available in the investor section of
our website.
Disclaimer

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Strategic overview
Port of Tauranga remains well positioned as New Zealand'smain export gateway.
Primary sector exports are currently forecast to plateau (in volume) over the next decade.

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Strategic overview
Port of Tauranga is well positioned to support population growth in the Upper North Island andimport
container volume growth.
Existing port capacities and high land cost in Auckland will continue to be a constraint driving the need
for industrial land alternatives -North and South of Auckland.

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Strategic overview
Port of Tauranga is well positioned with strategic partnerships and investment inMetroPort, Ruakura
Inland Port and Northport Group.
Economic and environmental drivers continue the trend towardlarger container ships- with larger vessels
expected to cascade into Oceania trade routes.

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Strategic overview
Smaller NZ regional ports will become reliant on coastal shipping as infrastructure constraints restrict
vessel size for main line services - leading tohub and spoke network.
Port of Tauranga is well positioned to be ahub portfor New Zealand, supporting increased coastal
feeding andincreased transhipment container growth.

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•Upper North Island
population could increase by
0.5m (low), 1.1m (medium), or
1.5m (high) between 2025
and 2053.
•From a base of 2.9m in 2025,
the Upper North Island
population could reach 3.4m
(low), 3.9m (medium), or 4.3m
(high) by 2053.
•Under the high scenario, the
Upper North Island’s 2053
population would be
equivalent to New Zealand’s
total population in 2010.
Upper North Island population 3.4-4.3m in 2053
Upper North Island population to grow 0.5-1.5m
0
1,000,000
2,000,000
3,000,000
4,000,000
5,000,000
0004081216202428323640444852
Upper North Island population
Stats NZ estimates and projection
LowMedium
HighHistorical

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•Future imports assumed to grow at national
rate.
•Nationwide population growth implies TEU
import growth of between 126,000 in a low
population growth scenario, up to 299,000 in
a high scenario.
•Waikato and Bay of Plenty population adds
26-68k TEU.
•Upper North population adds 81-215k TEUs.
•Lower-cost warehousing growth south and
north of Auckland, in the Waikato and the
Bay of Plenty would likely shift a greater
share of import growth moving to Port of
Tauranga or Northport.
Population growth adds 81k-215k TEU imports for Upper North Island
Freight import projections Upper North Island
26k
81k
126k
47k
148k
214k
68k
215k
299k
0100,000200,000300,000400,000
Waikato and Bay of Plenty
Upper North Island
New Zealand
Projected TEU import growth 2025-2053
Based on Stats NZ population projection for each area
High
Medium
Low

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•Consents for new
warehousing facilities are
also focused in the Upper
North Island.
•The Upper North Island’s
share of New Zealand’s
warehousing building
consents by real value has
trended from 64% in the
2000s, to 54% in the 2010s,
and 70% in the 2020s.
•Increasing growth north
and south of Central
Auckland.
70% of warehouse consents in Upper North Island
Shift in logistics facilities
64%
54%
70%
0%
20%
40%
60%
80%
100%
2000-20092010-20192020-2025
Upper North Island share of NZ warehouse consents
Real value of new and alteration consents
Northland Region
Waikato Region
Bay of Plenty Region
Auckland Region

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•Auckland industrial rents range
from ~$213–$218/sqm in
Central Auckland and Airport
precincts, easing to ~$193–
$208/sqm in South Auckland,
with the lowest rents in
Auckland North at ~$175–
$185/sqm.
•The upper end of prime
warehouse rents in Waikato
and the Bay of Plenty is below
the lower end for rents in
Auckland Central, with only
Auckland South (Drury) and
Auckland North priced at
comparable levels to Waikato
and Bay of Plenty.
Cheaper industrial rents to the north and south of Central Auckland
Shift in logistics facilities south
Source: Infometrics, Waikato Region Colliers Essentials 1H 2025, Bay of Plenty
Region Colliers Essentials 2H 2025, Auckland Industrial Colliers Essentials 2H 2025.
$145
$130
$176
$165
$195
$216
$0$50$100$150$200$250
Tauranga
Hamilton
Auckland
Prime warehouse rents per sqm
Colliers, 2025
Upper bound
Lower bound

– Australian ports are being planned for continued growth in container volumes,
which includes some share of regional transshipment
• Port of Melbourne is planning for 14,000+ TEU vessels visiting within the
next 30 years (https://www.portofmelbourne.com/pds-2055/port-development-strategy.html)
• Bay West has been safeguarded for future Victorian port capacity and
planned for 14,000+ TEU size(https://www.vic.gov.au/victorian-commercial-ports-strategy)
• Sydney (Port Botany) capable of handling 15,000 TEU vessels now with
their expected East Coast deployment over next 20 years (re. 2023 Port
Master Plan)
• Port of Brisbane’s 25-year Channel Enhancement Project envisages 14,000
TEU vessels calling along the East Coast(https://www.portbris.com.au/channel-
enhancement-project)
• WA Government’s Westport new port design includes planning for 14,000+
TEU vessels expected to be deployed on Australian shipping routes from
2030(https://westport.wa.gov.au/)
What is Australia doing?
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Disclaimer: This presentation has been prepared by GHD for discussion at an Investor Day in New Zealand and is provided for general information only. It has been prepared for a specific audience and purpose and must not be relied upon for investment decisions, regulatory approvals, or any other purpose. It does not constitute financial advice or regulated advice under the Financial Markets Conduct Act 2013 (NZ). The content is high level and desktop based, relies on publicly available and third
party information, and no detailed due diligence has been undertaken. GHD makes no commitments on behalf of PoTL. The material may be publicly available; GHD accepts no duty of care or liability to third parties. © GHD. All rights reserved. To the maximum extent permitted by NZ law, GHD disclaims all liability arising from use of or reliance on this presentation.

–A hub port needs:
•Capacity to handle container ships up to 14,000 TEU capacity and container
volumes more than 1M TEU p.a. (SI) and 2M TEU p.a. (NI) – this includes 14-
15m water depth, 1km quay line, and terminal footprints >30Ha
•Enhanced STSC capabilities – (outreach) demanding wider rail gauge and
increased berth structural capacity (often prompting upgrades / renewal)
•To be able to deliver high productivity and benchmark service level and ideally
be in proximity to primary sailing routes (international and coastal)
•High-capacity and reliable landside freight corridors with multi-modal
connectivity to inland container terminals / depots connected to national
transport corridors
•A sound starting position (established catchment, key export node) and
infrastructure that is resilient to natural hazards.
–Candidate ports in NZ?
•Three ports currently handle 75% of the task (PoAL, PoTL, LPC)
•Around 5-6 ports with channels planned to be suitable
•Few ports expected to provide terminal capacity and/or satisfy full hub ‘status’
–Napier berth 6 –350-meter-long with a 14.5-meter deep berth pocket, designed for 330m LOA container
ships.
–Lyttelton announcement for TeBay 1 – “taking port capacity to ~850k TEU (reclamation + 370m berth).
(https://www.lpc.co.nz/harbourwatch/current-projects/ )
–POAL channels are being deepened from 12.5 m to around 14.2m allowing larger container ships to enter.
(https://ftdmag.co.nz/2021/02/02/ports-of-auckland-to-deepen-aucklands-shipping-channel/ )
What ports?
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Source: GHD, LPC, PoTL, POAL.
SouthPortOtagoTimaruLytteltonNelsonNorthportCenterportNapierTaurangaAuckland
Channel
Berth*
Capacity**
Transport
Market***
•North Island = Tauranga, Napier; South Island = Lyttelton, Otago
Disclaimer: This presentation has been prepared by GHD for discussion at an Investor Day in New Zealand and is provided for general information only. It has been prepared for a specific audience and purpose and must not be relied upon for investment decisions, regulatory approvals, or any other purpose. It does not constitute financial advice or regulated advice under the Financial Markets Conduct Act 2013 (NZ). The content is high level and desktop based, relies on publicly available and third
party information, and no detailed due diligence has been undertaken. GHD makes no commitments on behalf of PoTL. The material may be publicly available; GHD accepts no duty of care or liability to third parties. © GHD. All rights reserved. To the maximum extent permitted by NZ law, GHD disclaims all liability arising from use of or reliance on this presentation.
* Length / STSC capable; ** terminal capacity 1M > 2M TEU;
*** balanced trade / established export flows
Achievable
Somewhat
Not likely
Assessment based on GHD’s 2025 view; this
position does not imply that identified
constraints are irresolvable.

– Outlook scenarios suggest arobust containerised
trade outlook for NZ, with continued vessel
upsizingand 9,000+ TEU ships on the horizon.
–Short-term continuity is expectedthrough direct
multi-port calling services;however, transitional
change is likely, including:
•Are-shaping of domestic cargo flows, as
established North Island port handling progressively
transitions to direct South Island supply chains,
enabled by new inland terminals and port
investments and occurring alongside persistent
productivity constraints at incumbent gateways
•Incremental redirection of trade, as ongoing
vessel upsizing erodes the viability of direct calls at
smaller ports, accelerating the shift toward
scale-ready hubs.
–New Zealand is not ready for the next phase
currently. The current port-by-port, council-led
investment model has some inefficiency and is not
coordinated, contributing to reduced confidence in
system reliability, cost competitiveness, and
decarbonisation performance.
Conclusions
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Disclaimer: This presentation has been prepared by GHD for discussion at an Investor Day in New Zealand and is provided for general information only. It has been prepared for a specific audience and purpose and must not be relied upon for investment decisions, regulatory approvals, or any other purpose. It does not constitute financial advice or regulated advice under the Financial Markets Conduct Act 2013 (NZ). The content is high level and desktop based, relies on publicly available and third
party information, and no detailed due diligence has been undertaken. GHD makes no commitments on behalf of PoTL. The material may be publicly available; GHD accepts no duty of care or liability to third parties. © GHD. All rights reserved. To the maximum extent permitted by NZ law, GHD disclaims all liability arising from use of or reliance on this presentation.
–Fragmented governance, variable productivity, rising costs,
and gaps in supply chain connectivity settings are also of
concern. Without coordination, these pressures risk sub-optimal
long-term outcomes, with transhipment via Australian hubs a
worst-case possibility.
–A national ports strategy appears prudent and enjoys
near-universal support across the sector, with broad
alignment to establishing a hub-and-spoke network comprising
1–2 North Island hubs and a single South Island hub, supported
by reform for coastal shipping and inland ports. A coordinated
port network will increase resilience and promote domestic value
capture.
–Prospective hub ports need to accommodate vessels up to
8,000 TEU in the short-medium term, and 14,000 TEU size in
the longer termand may need to offer 1-2M+ TEU capacity,
have enhanced STSC capabilities, and deliver high service level.
– Against this backdrop,Port of Tauranga is uniquely positioned
to play a central role in any future hub-and-spoke network
through:
•Exercising its existing resource consents to dredge the port
channels
•Planning for berth extension and terminal capacity expansion
•Positioning as a long-term North Island hub for New Zealand.

Development to accommodate increasing vessel sizes

From Q1 2027 we have the capability to accommodate
the next generation of Post Panamax vessels
Stage two capital dredging underway

Stella Passage project overview
•385m Berth Extension and reclamation at Sulphur
Point.
•Associated dredging to extend existing channel
•315m Berth Extension and reclamation to Mount
Wharves.
•Addition of Mooring Dolphins to Existing Tanker
Berth.
•Minor structures and reclamation south of Tanker
Berth.

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Stella Passage fast-track programme
CompleteDateStella Passage Fast-track
22 Jan 2026Application lodged with EPA
12 Feb 2026EPA confirms application complete
20 Feb 2026Competing applications determination received from EPA
23 Feb 2026Treaty Settlements Report complete
5 Mar 2026Panel Conveners Conference
16 Mar 2026Panel commencement
30 Mar 2026Panel to direct the EPA to invite comments on the application
30 Apr 2026Parties invited to comment on the application
7 May 2026Port to respond to comments
7 Sep 2026Decision due date – 90 working days from 30 April 2026

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Automated Stacking Cranes (ASCs)
Port of Tauranga -Terminal automation project
Progress update
•Preferred vendor identified. Contract negotiations
underway and final contract form nearing
completion.
•ASC emulation software being implemented at the
Tauranga Container Terminal to test ASC
technology virtually.
•Deployment of ASCs linked to timing of berth
extension.
•Staged bolt-on introduction of ASCs relative to
volume growth requirements. Implementation
planned over four phases (nine ASC blocks).
•Stage one (two ASC blocks) cost circa ~ $100
million.
Fully electric ASCs ~75% reduction in emissions relative to a
traditional straddle operation.

Stage 1, 285m wharf extension, cranes and automation,
Sulphur Point

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Capex outlook
TotalFY30FY29FY28FY27FY26
$000s$000s$000s$000s$000s$000sCapital expenditure
70,00070,000Capital dredging
150,000150,000Sulphur Point berth extension
100,000100,000Automation stage 1
40,00040,000Automation stage 2
20,00020,000New terminal building
27,00027,000Hybrid tug
48,00048,000New cranes (x2) for new berth
150,00030,00030,00030,00030,00030,000Replacement capital expenditure
605,000
POTL forecasts a significant amount of capital expenditure over the next five years
•Project values are highly
sensitive to foreign
exchange and
construction component
cost movements.
•Forecast capex remains
subject to the timing of
the granting of the critical
Stella Passage
development resource
consent.
Planned
In-progress

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24.5%
18.0%
18.1%
17.1%17.1%
0%
5%
10%
15%
20%
25%
FY22FY23FY24FY25FY26
For the six months ended 31 December 2025
Net debt / net debt + equity
•Leverage remains low, providing
balance sheet headroom to progress
berth extension and automation
project.

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Recycling capital - land holdings
•Board has
approved the
recycling of
non- strategic
land holdings
to fund port
development.
•Estimated
value ~$152
million.

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ROIC Target of 7% on operational assets by FY27
Port of Tauranga Limited returns
Investments in and
advances to EAIs
$000
Non-core
assets
$000
Operational
assets
$000
Actual
FY25
$000
319,363151,9002,437,6542,908,917
Total
Invested
Capital
13,9985,004180,470199,472EBIT
10,0793,603129,939143,620NOPAT
3.2%2.4%5.3%4.9%ROIC
ROIC targets must be met:
•Achieving above-WACC ROIC is a
prerequisite for planned growth
investments
•Improved profitability enhances
capacity to support higher
leverage
•POTL on-track for FY27 ROIC
target.

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Improving returns through port performance

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Global Container Port Performance Index -2024
PortMaritime services region CPPI Score 2024 Regional ranking
TaurangaAustralasia & Oceania51
Bell BayAustralasia & Oceania42
NelsonAustralasia & Oceania03
TimaruAustralasia & Oceania-44
WellingtonAustralasia & Oceania-55
AdelaideAustralasia & Oceania-86
MelbourneAustralasia & Oceania-87
LytteltonAustralasia & Oceania-98
AucklandAustralasia & Oceania-129
BluffAustralasia & Oceania-2110
NapierAustralasia & Oceania-2711
Otago HarbourAustralasia & Oceania-3612
Port BotanyAustralasia & Oceania-4813
BrisbaneAustralasia & Oceania-9314
FremantleAustralasia & Oceania-9515

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•Airborne dust source apportionment study has been
completed. Further monitoring is ongoing.
•Dust concentrations in the industrial area adjacent
the Port activities continue to show improvement.
Air quality initiatives and improvements
Source: Davy PK, Trompetter WJ. 2025 (Earth Sciences New Zealand)
Average source mass contributions to PM
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at the Mount Maunganui Library site –
Dec 2023 to Feb 2025
0
5
10
15
20
25
30
35
40
45
2018 2019 2019 2020 2021 2022 2022 2023 2024 2024 2025
Dust (μg/m3 of TSP)
Year
Rolling 12-month average dust - Totara Street

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Air quality initiatives and improvements
Now over 2.4km of wind fencing
Extensive dust and wind monitoring and alert network
NZ leading log yard housekeeping and cleaning
programme
New dust monitoring/alarm solution being
developed and trialed at bulk berths
•New dust-reducing hopper design under development

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Water quality - stormwater
•Comprehensive stormwater monitoring.
•Compliant and often well below stormwater
quality limits.
Sulphur Point stormwater
treatment system
Investment in stormwater treatment
Stormwater settlement
ponds and irrigation area
– Hewletts Road log yard
•New Mount wharves treatment system
under construction.
•Completion anticipated April 2026.
•Build time for the tank approx. six weeks -
1M litre tank.
•Pumps can move over 300 litres per
second!

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•2025 - harbour surveys
show positive results for
condition of harbour.
•Improving levels of marine
life and biodiversity.
•Working closely with
Waikato University on
future projects.
•Kutai (mussel) filtering
project underway.
•POTL support numerous
harbour improvement
initiatives such as artificial
reef development.
A continuous improvement approach
Harbour health – Te Awanui

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Resilient infrastructure - inland port connectivity

30ha
Port precinct
255ha
Industrial precincts
88ha
Logistics precincts
610ha
Mixed use precinct
One of the largest logistics &
industrial hubs in Australasia.
Scale play

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•Ownership structure: New single entity
Northport Group
•POT – 50%
•Northland Regional Council – 43%
•Tupu Tonu – 7%
•Over 150ha of commercial land available
behind Northport.
•Future opportunities for vehicle imports,
storage and other bulk cargoes.
•All Port development consents secured for
future container terminal development.
•Rail spur crucial to support volume and
scale for container imports to the Auckland
market.
Significant growth potential -Northport Group
Northport

NORTHPORT GROUP
THE UPPER NORTH ISLAND’S FREIGHT FUTURE

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•Port of Tauranga is New Zealand’s leading export port.
•Growth in Upper North Island population, Auckland capacity
constraints, bigger ships and increased coastal feeding all
lead to -Import and Transshipment cargo growthat Port of
Tauranga.
•We are preparing the necessary Port infrastructure to support
this future growth.
•Network investment in Northport, Timaru and inland ports in
Ruakura and future north/west Auckland will support growth
and the Hub Port strategy.
•These investments are underpinned by strong partnerships
with our customers and service partners.
•Our people are engaged and committed to the future vision;
our people exemplify the “can do” Port of Tauranga culture.
•Port of Tauranga is connecting New Zealand and the world.
Strategic Overview