MOVE 2026 Annual Meeting Materials

MOVE LOGISTICS GROUP LIMITED
2026 ANNUAL MEETING OF SHAREHOLDERS
29 October 2026

CHAIR’S ADDRESS
Julia Raue, Independent Chair
FY26 Overview
When we met last year, we were one year into a significant turnaround programme.
We had made good progress, but there was still considerable work ahead. We were very clear about
what we needed to achieve.
Our priorities were to complete the reset of the business, strengthen our financial position and,
importantly, return MOVE to positive normalised earnings in FY26.
I am pleased that we delivered on that commitment.
FY26 was an important year for MOVE as we continued to rebuild our company and focused on
improving the quality of our earnings. The results reflect the work undertaken over the past two
years to simplify the business, reduce costs, improve productivity and efficiency, and sharpen our
focus on customers and profitable revenue.
Revenue increased by 1.5% to $290.6 million despite a subdued economy.
Normalised earnings before tax improved by $11.6 million to a positive $1.6 million, and we
returned to a statutory net profit after tax of $0.3 million.
We also generated positive free cashflow of $6.3 million and reduced net debt by 38% to $10.4
million.
Importantly, this result was achieved in challenging and inconsistent market conditions.
However, the hard work is not yet finished and we have more to do.
From Re-set to Step Up
The Re-set phase of our New Horizons roadmap is now complete. But that does not mean the work
of improving MOVE is complete.
The current environment has made it even clearer that we can’t wait for the economy to recover –
we need to focus on what we can control to lift our performance.
That’s the priority for the Step Up phase. It’s about operational excellence, delivering customer
value and driving smart, sustainable growth.
We know that shareholders have been patient through a difficult period for the company.
Returning to profit is an important milestone, but the current level of earnings is not yet an
adequate return from a business of MOVE’s scale and capability.

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Our focus now is to progressively deliver stronger earnings, cash generation and returns for
shareholders.
We have a national network, strong customer relationships, specialist expertise and a broad range of
logistics capabilities. The opportunity is to translate those strengths into greater value.
Our people
The transformation of MOVE over the past two years has asked a lot of our people.
Our team has worked through considerable change while continuing to deliver for our customers
every day.
On behalf of the Board, I want to thank everyone across MOVE for their commitment and hard work.
I also want to acknowledge Paul and his leadership team. The improvement in the business reflects
their disciplined execution and the contribution of people right across the organisation.
I would also like to thank my fellow directors for their contribution and support during the year.
Looking forward
We remain realistic about the environment ahead. While there are signs of improvement in the New
Zealand economy, the recovery remains gradual and uneven.
We remain unified behind our vision and firmly focused on achieving our goals.
MOVE is in a much stronger position than it was two years ago. The foundations have been rebuilt,
the business has stabilised and we have returned to positive earnings.
The Re-set phase addressed many of the issues that were holding MOVE back, however, there is still
more work to do to lift performance and deliver the level of returns we expect from a business of
MOVE’s scale and capability.
Our focus now is on demonstrating that the improvements we have made – and will continue to
make - can translate into sustainable earnings growth and greater value for shareholders.
Thank you for your continued support of MOVE.

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CEO’S ADDRESS
Paul Millward, CEO

Re-set phase completed
Two years ago, MOVE had a cost base that was too high for the level of revenue, it was a complete
mismatch. Margins had deteriorated and the business needed to change.
Through the Re-set phase, we have made good progress simplifying the business, reducing our cost
base, improving how we use our network and assets, and strengthening our commercial disciplines
and the culture of accountability. These remain ongoing areas of focus as we look to lift performance
further.
We also got back to the basics of what makes MOVE a good business: looking after our customers,
delivering reliably, making every dollar count and making sure our people understand the role they
play in delivering the result.
Importantly, we have made this progress in a market that has remained challenging.
We are working from a much stronger base but there is still work ahead of us, in particular in
Warehousing but also our Freight business.
FY26 lookback
When I spoke to you at last year’s ASM, our commitment was clear: to return MOVE to positive
normalised earnings in FY26. We delivered on that commitment.
I am proud of what our team has achieved, but the initial return to profit is simply a starting point.
What FY26 demonstrated is that the changes we have made are working, and we are committed to
sustaining that momentum.
Building a stronger base
Across the group, we saw an improving performance in all our businesses.
Freight, which was one of our biggest challenges two years ago, was profitable again. Specialist
delivered its strongest earnings result in three years and International continued to grow, with our
trans-Tasman Oceans service also now profitable.
The same discipline and focus that have helped improve performance need to continue as part of
how we operate every day.
Efficiency and operational excellence are the key priorities for us this year and every one in my team
has KPIs focused on these areas.
In Freight, it is essential that we extract more from the network and assets we already have. That
means continuing to improve how we run the network, making better use of the capacity we have
and reducing unnecessary cost and kilometres. It’s simple in theory but an efficient network is
where we can create immense value.

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Importantly, we have retained the network and capability to handle additional volume without
needing to add significant cost. As the economy improves and demand recovers, that provides a
clear opportunity to lift margins and earnings.
In Specialist and International, we see opportunities to grow in areas where MOVE has strong
capability and customer relationships. Specialist in particular is very project based and we are
looking at how we can more efficiently utilise our assets and team to match workflow.
Increasingly, we are also looking across the Group rather than at each business in isolation.
For example, our new cornerstone International customer is using other MOVE services as well.
We want to do more of that: bringing more of MOVE's capability to more of our customers and
providing end to end solutions.
Warehousing
Warehousing continues to operate in a challenging market, with excess capacity and weak demand,
and we remain constrained by legacy property commitments.
We have now completed the limited structural cost changes available to us, and our focus is firmly
on the top line to generate revenue.
That means simply more customers, increasing utilisation of the capacity we already have,
maintaining strong commercial disciplines and providing an excellent customer experience.
We have a quality nationwide Warehousing offer, which can also be integrated with our Freight
capability.
Improving performance in this business remains one of our biggest opportunities to lift Group
performance.
Winning with customers
More broadly, the customer is at the centre of the Step Up phase.
Our job is to make logistics easier for our customers. They want reliability, visibility and people who
understand their business and take ownership.
Increasingly, they also want logistics partners who can solve more of their supply chain challenges.
That plays to MOVE's strengths.
We have a national network and capability across Freight, Warehousing, Fuel, Specialist and
International.
Our opportunity is to bring those capabilities together more effectively, make it easier for customers
to do business with us and win a greater share of their logistics spend.
We will also continue to invest selectively in technology and data where it improves the customer
experience, makes us more efficient or helps our people make better decisions.
Financial success starts with growing revenue in the right areas and with the right customers. From
there, our focus is on maintaining a leaner cost base, improving margins and converting that revenue
into stronger earnings and cash generation.

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Ultimately, it is about building a more profitable and resilient business that can deliver sustainable
value for shareholders.
From Re-set to Step Up
Re-set was about putting the foundations back in place. That work has substantially been done and
the focus now is on winning business, improving utilisation and efficiency, and growing profitability.
Now we Step Up. Our priorities for FY27 are clear.
• We want to win in the market and grow profitably.
• We need to accelerate the Warehousing turnaround, and continue to strengthen the core
and unlock value in Freight.
• We want to improve margins through operational and commercial excellence.
• And we will maintain our focus on positive cashflow and disciplined capital management.

We are not looking for growth at any cost. We want the right customers, the right volume and the
right returns.
Importantly, we have the ability to grow without adding significant cost, with capacity within our
existing network and assets, and considerable capability across our businesses.
Getting more from what we already have is a key part of the opportunity ahead.
Outlook and drivers
The economic environment remains difficult to predict and the Middle East conflict continues to
create pressure on many sectors and on New Zealand households. While there are some signs of
economic improvement, recovery across the sectors we serve remains uneven and we continue to
operate in a challenging market with subdued demand.
In Freight, we are seeing revenue growth but this is behind expectations as we balance lower
demand in some areas and cost pressures.
In Warehousing, we are on track to deliver an improved performance over last year, despite
intensely competitive pricing pressure. We have also seen existing customers trading down due to
lower consumer demand. Our large fixed cost base in our property leases works against us,
particularly at a time of lower consumer demand, and our priority is on driving revenue and
earnings.
Specialist and International are on target to meet expectations.
There is plenty of market share to win and we are focussing on diversifying and winning in new
sectors which will make our business more resilient and less exposed to economic cycles. An
example is our strategic play into the stronger dairy sector, offsetting the pressure on sectors such
as beverage and alcohol.
For FY27, we are targeting a year on year improvement in earnings and cashflow which we will
achieve through two clear drivers:
Firstly, resilient baseline earnings growth – continuing our positive normalised earnings momentum
and demonstrating cost-base stability despite the extended soft trading environment.

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And secondly, focusing on internal levers within our direct control: pricing discipline, operational
excellence and efficiency, and winning profitable revenue.
While an economic recovery would be welcome, our plan is not solely reliant on it. We have
appropriate bank funding in place to support the ongoing execution of our plans, with the ANZ
facility extended to August 2027 and the new BNZ invoice finance facility commencing in November
– this will reduce our ongoing finance costs and assist in optimising working capital.
Before I finish, I want to thank our people.
We have asked a lot of them over the past two years and they have continued to deliver for our
customers while adapting to significant change across the business.
Thank you also to our customers for continuing to put their trust in MOVE, and to our shareholders
for your continued support.
We delivered what we said we would deliver in FY26. Now our focus is on building from here.
Thank you.

CHAIR’S SUMMARY COMMENTS

As you have heard today, our priorities are clear: improving earnings, strengthening cash flow and
delivering sustainable shareholder value. We have a well defined plan in place, and our focus
remains firmly on controlling what we can control, maintaining financial and operational discipline,
and driving continuous improvement across the business.
We are making progress, but recognise there is further work ahead to deliver the earnings, cash flow
and shareholder returns we are targeting. The Board and management are aligned on these
priorities and remain firmly focused on execution, sustained improvement and better outcomes for
our shareholders.
ENDS

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MOVE LOGISTICS GROUP LIMITED
2026 ANNUAL MEETING
29 October 2026

CHAIR
JULIA RAUE
22026 Annual Meeting

Voting Card
Question box
VOTING AND ASKING QUESTIONS
32026 Annual Meeting

AGENDA
Welcome and Introductions
Chair and CEO Presentations
Shareholder Discussion
Resolutions
General Business
Close of the Meeting
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YOUR BOARD
5
Greg Whitham
Non-independent Director
Elected October 2024
Julia Raue
Independent Chair
Appointed Chair June 2024
Lachie Johnstone
Independent Director
Elected October 2024
Graham Stuart
Independent Director
Appointed 1 August 2026
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LEADERSHIP TEAM
6
Paul Millward
CEO
Lee Banks
CFO
Mike Brough
GM Oceans &
International
Hayley Hamilton
Interim GM Warehousing
Marc Blackburn
GM Sales
Austin Laurenson
GM Strategy and
Commercial Performance
Steph Rigter
GM People & Culture
Warwick Bell
GM Specialist Lifting
Ricky Clark
GM Freight
2026 Annual Meeting
Hayden Garing
GM Fuel Operations

FY26 OVERVIEW
Return to profit as Re-set Phase completed and Step Up underway
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1.Normalised EBT(NEBT) excludes non-trading adjustments.
2.Adjusted Gross Margin excluding asset sales
3.Excluding leases
4.Attributable to owners
Revenue
$290.6m +1.5%
FY25: $286.3m
Normalised EBT
1
$1.6m +$11.6m
FY25: $(10.0)m
NPAT
4
$0.3m +$15.9m
FY25: $(15.6)m
Free Cashflow
$6.3m +194%
FY25: $2.1m
EBT
$1.5m +$15.7m
FY25: $(14.2)m
Net Debt
$10.4m
Improved by 38%
FY25: $16.7m
Gross Margin $
2
$85.5m +2.5%
FY25: $83.5m
Gross Margin %
2
29.4% +0.2pp
FY25: 29.2%
ROIC
3
10.6%
FY25: (11.6)%
•PP: Percentage Points
•Due to rounding, numbers presented throughout this presentation
may not add up precisely to the financial statements
•See Appendix for glossary and non-GAAP reconciliation

NEW HORIZONS 4-YEAR ROADMAP: FY25 TO FY28
RE-SET
FY25 - FY26 COMPLETED
STEP UP
FY26 – FY27
STAND OUT
FY28
A strong foundational platformCustomer value and operational
excellence; smart business growth
Preferred logistics provider;
scaling up; a market leader
Completed the Accelerate
transformation programme
✓Customer focused team and
offering
✓Rightsized cost base
✓Network optimisation
✓Relentless focus on cashflow and
revenue
✓Improved balance sheet strength
✓Winning with customers,
existing and new
•Win with customers, existing and
new
•Strategic partnerships
•Increase customer sector diversity
•Customer service excellence
•High performing network
•Operational & commercial excellence
•Leverage digital & data
•Robust financial performance
•Strengthen culture, talent and
capability
•Enduring customer
partnerships
•Strong competitive position
•Market reputation & brand
strength
•Accelerate market share
•Material revenue and
earnings growth
•Maximise new
opportunities
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FOUNDATIONS
Passionate &
Capable People
Valuable Customer
Partnerships
Operational
Excellence
Strong Financial
Performance
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10
OUR VISION
To be the preferred
freight and logistics
company in Aotearoa
New Zealand
OUR MISSION:
To keep our customers
moving
A STRONG TEAM
THAT DELIVERS
DELIGHT OUR
CUSTOMERS
EFFECTIVE USE
OF ASSETS
FINANCIAL
STRENGTH AND
VALUE CREATION
OUR GOALS

CEO
PAUL
MILLWARD
112026 Annual Meeting

RE-SET PHASE COMPLETED
Meaningful improvement since June 2024
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301.7
288.7
294.9
FY24FY25FY26
Total Income
-25.7
-10.0
1.6
FY24FY25FY26
Normalised Earnings Before Tax (NEBT)
-48.1
-15.6
0.3
FY24FY25FY26
Net Proft After Tax
Attributable to owners
25.1
29.2
29.4
FY24FY25FY26
Gross Margin %
Outcomes
✓Improved financial position
✓Right-sized network and team
✓$27m cost-focused transformation
completed
✓Stronger pricing discipline
✓Improved gross margins
✓Improved earnings conversion
oOngoing turnaround of Freight
business
oWarehousing under-performing,
priority focus on turnaround
✓Increased team capability
✓Improved customer service
✓Competitively positioned

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FY26 LOOKBACK
Delivered on financial target: Positive full year normalised
earnings
Positive free cashflow, return to profit after tax
Improved performance from all businesses, three of four
divisions delivering profit, Warehousing remains sub-par
Re-set phase complete → Step Up underway

BUILDING A STRONGER BASE
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DivisionRevenueYOY NEBTYOY
Freight & Fuel
$198.6m
↑ 5.2 %
$3.2m
↑$4.9m
Warehousing
$41.3m
↓23.0%
$(5.1)m
↑$0.7m
Specialist
$19.9m
↑9.4%
$3.0m
↑$0.6m
International
$30.7m
↑19.8%
$4.4m
↑$4.0m
NEBT – normalised earnings before tax
Due to rounding, numbers may not add up precisely to the financial statements

WAREHOUSING TURNAROUND
Clear plan and priorities in place
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FocusCurrentFY27 Action
Sales and customer
experience
Insufficient scale
•Win customers in targeted sectors and
locations
•Strengthen customer experience –
people, technology (new portal), DIFOT
Customer mixConcentrated
•Improve sector diversity
FootprintBeing managed
•Increase utilisation
Earnings Loss making
•Improve site productivity
•Pricing and revenue management
•Control operating costs
•Deliver significant earnings
improvement

WINNING WITH
CUSTOMERS
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•Win in market – grow scale profitably
•Accelerate Warehouse turnaround
•Strengthen core and unlock value in Freight business
•Margin expansion through operational and commercial excellence
•Increase positive normalised earnings
•Positive cashflow
•Balance sheet strengthening
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FROM RE-SET TO STEP UP

Resilient baseline growth:
Positive normalised earnings momentum
alongside cost-base stability despite extended
soft trading conditions
Controlling the controllables:
Pricing discipline, operational excellence and
efficiency, and profitable revenue
FY27 OUTLOOK
Broader market
recovery expected
but pace and timing
remain uncertain
Targeting year on
year improvement in
earnings and
cashflow
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Key Drivers
18

DISCUSSION
19
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RESOLUTIONS
RESOLUTION 1: To record the re-appointment of
PricewaterhouseCoopers as the Company’s auditor and to authorise the
Directors to fix the auditor’s remuneration for the ensuing year.
RESOLUTION 2: That Julia Raue, who retires by rotation in accordance
with Listing Rule 2.7.1 and is eligible for re-election, be re-elected as a
Director of the Company.
RESOLUTION 3: That Graham Stuart, who was appointed as a Director by
the Board during the year, be elected as a Director of the Company.
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OTHER BUSINESS
CLOSE OF THE
MEETING
21
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APPENDICES
22
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One of the largest providers in the NZ market
Multi-modal, end to end supply chain solutions
Customer focused, culture of service excellence
Experienced and passionate team
Competitive, value for money, reliable and resilient provider
Strong long term market dynamics and growth drivers
Clear four year roadmap in place
Significant opportunity to build share of multi-billion dollar market
SOUND BUSINESS FUNDAMENTALS

Financial Measures
$MillionsFY26FY25
Net profit/(loss) before income tax (GAAP measure)1.5(14.2)
Add back:
Restructuring and settlement costs-3.3
Asset impairment0.10.9
Normalised EBT
(excluding non-trading items, non-GAAP measure)
1.6(10.0)
Finance costs (net)9.511.3
Depreciation & Amortisation36.640.8
Normalised EBITDA
(excluding non-trading items, non-GAAP measure)
47.742.1
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MOVE Logistics Group uses several non-GAAP measures when
discussing financial performance including EBITDA, Normalised
EBITDA and normalised EBT. The company believes these provide a
better reflection of the company’s underlying performance. These
measures may not be comparable to similar financial information
provided by other entities.
Glossary:
•EBITDA: Earnings before interest, tax, depreciation and
amortisation
•Normalised EBITDA: EBITDA before non-trading costs
•Normalised EBT (NEBT): Earnings before tax and non-trading
adjustments
•Free Cashflow: Net Operating Cashflow - Capital Expenditure –
Lease payments + Asset Sale and Insurance Proceeds
•Gross Margin: Revenue less direct operating costs
•Gross Margin %: Gross margin/revenue
•Net debt: interest bearing liabilities less cash and cash
equivalents (excludes IFRS-16 Liabilities)
•Return on Invested Capital (ROIC): Net Operating Profit After
Tax/Average Invested Capital
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MOVE is one of the largest domestic freight, warehousing
and logistics solutions providers in New Zealand
Our vision:
To be the preferred
freight and logistics
company in Aotearoa
New Zealand
Our mission:
To keep our customers
moving

MOVE makes logistics easy for customers
3PL PROVIDER
MARKET LEADER IN
SPECIALISED SERVICES
FREIGHTWAREHOUSINGINTERNATIONALFUELSPECIALIST
One of the largest
domestic freight
providers in New
Zealand.
Our services include
general freight,
primary produce,
project cargo and
full truck loads.
Contracted solutions
for customer
including
Warehousing and
supply chain
capability.
Our warehouses are
central to main
routes and easy for
port access.
Global logistics
specialists, providing
international freight
forwarding and
shipping agency
services.
Our trans-Tasman
shipping service
adds another valued
service to our offer.
Our specialist road
tanker division is
one of the largest
operators in the
New Zealand fuel
delivery market.
We move
oversized and
large items that
require specialist
haulage. From
heavy haulage,
and machinery
transports to
oversized freight
movements.
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OUR MISSION: To keep our customers moving
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Disclaimer
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This presentation has been prepared by MOVE Logistics Group Limited (“MOV”). The information in this presentation is of a general nature only. It is not a complete
description of MOV.
This presentation is not a recommendation or offer of financial products for subscription, purchase or sale, or an invitation or solicitation for such offers.
This presentation is not intended as investment, financial or other advice and must not be relied on by any prospective investor. It does not take into account any
particular prospective investor’s objectives, financial situation, circumstances or needs, and does not purport to contain all the information that a prospective
investor may require. Any person who is considering an investment in MOV securities should obtain independent professional advice prior to making an investment
decision, and should make any investment decision having regard to that person’s own objectives, financial situation, circumstances and needs.
Past performance information contained in this presentation should not be relied upon as (and is not) an indication of future performance. This presentation may
also contain forward looking statements with respect to the financial condition, results of operations and business, and business strategy of MOV. Information about
the future, by its nature, involves inherent risks and uncertainties. Accordingly, nothing in this presentation is a promise or representation as to the future or a
promise or representation that a transaction or outcome referred to in this presentation will proceed or occur on the basis described in this presentation.
Statements or assumptions in this presentation as to future matters may prove to be incorrect.
MOV and its related companies and their respective directors, employees and representatives make no representation or warranty of any nature (including as to
accuracy or completeness) in respect of this presentation and will have no liability (including for negligence) for any errors in or omissions from, or for any loss
(whether foreseeable or not) arising in connection with the use of or reliance on, information in this presentation.
2026 Annual Meeting