Turners Automotive Group Ltd · NZX:TRA
Turners Automotive — Shareholder Meeting (August 2025)
53 slides from Turners Automotive's shareholder meeting presentation, Aug 21, 2025
Slide 1: 2025 Annual Meeting Presentation
2025 Annual For personal use only Meeting Presentation 21 August 2025 1 • 2025 ASM PRESENTATION TURNERS AUTOMOTIVE GROUP
Slide 2: Board of Directors
Board of Directors For personal use only Grant Baker Matthew Harrison Alistair Petrie Todd Hunter Non-executive Chairman Non-executive Director Non-executive Director Group CEO & Managing Director John Roberts Lauren Quaintance Antony Vriens Independent Director Independent Director Independent Dire
Slide 3: Meeting Agenda
Meeting Agenda 1. Presentations •Address from the Chair, Grant Baker For personal use only •Address from the CEO, Todd Hunter •Address from Directors up for re-election 2. Shareholder Discussion 3. Resolutions are per Notice of Meeting • Resolution 1 - That Baker Tilly Staples Rodway be reappointed
Slide 4: Chairman's Address
For personal use only Chairman’s Address Grant Baker 4 • 2025 ASM PRESENTATION TURNERS AUTO AUTOMOTIVE GROUP GROUP
Slide 5: FY24 Results
For personal use only 5 • TURNERS 2025 ASMAUTOMOTIVE PRESENTATION GROUP TURNERS FY24AUTOMOTIVE RESULTS GROUP
Slide 6: Record result, resilient model, confidence in growth
For personal use only • Record result caps off a decade of growth • Resilient model and outstanding team • Confidence in future growth 6 • 2025 ASM PRESENTATION TURNERS AUTOMOTIVE GROUP 6 • 2025 ASM PRESENTATION TURNERS AUTOMOTIVE GROUP
Slide 7: Record result caps off a decade of growth
Record result caps off a decade of growth Operating profit contribution by segment ($M) Dividend per Share ($) For personal use only 70 0.35 60 0.30 0.29 0.255 50 0.25 0.23 0.23 Operating Profit ($M) 0.20 40 0.20 DPS ($) 0.17 0.155 0.145 0.14 30 0.15 0.13 0.10 20 0.10 10 0.05 0 0.00 FY15 FY16 FY17 F
Slide 8: We delivered on growth, despite the NZ economy
We delivered on growth, despite the NZ economy … For personal use only 1. The result extended our track record of resilience, by again delivering another record, despite an extremely challenging consumer environment. 2. FY25 dividend of 29.0 cps up +14% on pcp and caps off a decade of strongly growi
Slide 9: FY25 Results snapshot
FY25 Results snapshot Revenue For personal use only 500 Revenue Shareholders’ Equity 400 $414.2M -1% $298M as at 31 March 25 Millions 300 2H 200 1H Net Profit Before Tax Final Dividend 9.0 cps (fully imputed) 100 $54.3M +10% FY Div 29.0 cps +14% 0 FY19 FY20 FY21 FY22 FY23 FY24 FY25 EBIT 1 Net profit
Slide 10: We operate to a simple formula
For personal use only We operate to a simple formula 10 • 2025 ASM PRESENTATION TURNERS AUTOMOTIVE GROUP 10 • 2025 ASM PRESENTATION TURNERS AUTOMOTIVE GROUP
Slide 11: Quality environment + customer experiences = shareholder outcomes
For personal use only Quality Quality Quality outcomes environment + customer = for our for our people experiences shareholders 53% of our team Winner of Most Trusted A decade of increasing (~350 people) own Used Car Dealership 5 dividends and share price shares in Turners years running growth for s
Slide 12: Our strong culture is a key advantage
Our strong culture is a key advantage for our business Employee Engagement Scores - How likely is it that you would recommend Turners Automotive Group as a place to work? For personal use only 10 90% • 83% of leadership roles filled internally 9 80% 8 7 Employee Net Promoter Score 70% 6 5 60% 80 4 5
Slide 13: Strong and sustainable business with proven track record
Turners has built a strong and sustainable business with a proven track record… For personal use only Dividend per Share ($) 0.35 • “Skin in the game” (30% shares owned 0.30 0.29 around board table, 53% participation 0.255 from employees). 0.25 0.23 0.23 29cps 0.20 • Quarterly dividend payments. 0.2
Slide 14: Future Growth Opportunities
For personal use only Future Growth Opportunities 14 • 2025 ASM PRESENTATION TURNERS AUTOMOTIVE GROUP
Slide 15: MyAutoShop rebranded to Turners Servicing and Repairs
MyAutoShop rebranded to Turners Servicing and Repairs For personal use only • Rebrand under way to Turners Servicing and Repairs to leverage strong brand awareness and equity in “Turners” brand. • Turners Servicing and Repairs is now nearing break-even, and we continue to investment aggressively for
Slide 16: For personal use only
For personal use only 16 • 2025 ASM PRESENTATION TURNERS AUTOMOTIVE GROUP
Slide 17: On track to achieve medium term FY28 target earlier
On track to achieve our medium term FY28 target earlier For personal use only Net Profit Before Tax ($M) 70 Target #1 (FY21) of $45M NPBT by FY24 - 65 65.0 Achieved 60 Target #2 (FY22) of $50M NPBT by FY25 - 54.2 55 50 45.5 49.1 Achieved 45 43.0 40 Target #3 (FY24) of $65M NPBT by FY28 37.0 35 30 29
Slide 18: Key takeaways
Key takeaways… • Scale player, in a big market, operating off a platform of trust (in a market that stands for the For personal use only opposite). • Proven track record with over a decade of profit and dividend growth. • “Skin in the game” with directors and management owning significant shares (30
Slide 19: A new Tina campaign and a new number one
A new Tina campaign and a new number one… For personal use only • This is the first time since December 2023 that there has been someone new at number one, with ASB and ANZ having continuously occupied the top two spots. • 3.3M views on YouTube 60 sec (56 sec viewing) • 2.7M views on YouTube 90 sec
Slide 20: CEO's Update
For personal use only CEO’s Update Todd Hunter 20 • 2025 ASM PRESENTATION TURNERS AUTOMOTIVE GROUP
Slide 21: Used car market demonstrating resilience
Used car market demonstrating resilience % Change Yr on Yr, New Car vs Used Car Sales For personal use only 40% 30% 20% 10% 0% 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Jun YTD -10% -20% -30% Used Car % Change Y on Y New Car &
Slide 22: Dealer numbers in freefall
Dealer numbers in freefall Registered Dealer Numbers NZ (source MBIE) 3,700 For personal use only 3,500 • Dealer numbers starting to track down 3,300 again with weak demand, and difficulty 3,518 in importing cars from Japan. Feb-18 3,100 • Ultimately, scale will be the key 2,900 determinant of long
Slide 23: Business Divisions
Business Divisions For personal use only 23 • 2025 ASM PRESENTATION TURNERS AUTOMOTIVE GROUP
Slide 24: Auto Retail Division
For personal use only Auto Retail Division Strong brand Smart sourcing Operational agility 24 • 2025 ASM PRESENTATION TURNERS AUTOMOTIVE GROUP
Slide 25: Auto Retail - Summary
Auto Retail - Summary • FY25 NZ auto market conditions were For personal use only Operating Profit Contribution Auto Retail ($M) challenging, in line with the macroeconomic environment. 35 30 31.8 • Our sourcing initiatives, pricing optimisation and 25 29.1 stock management discipline during 1H set
Slide 26: Entering the next phase for ongoing growth push
Entering the next phase for ongoing growth push More opportunities to purchase sites at attractive valuations (stage of interest rate cycle). Committed development pipeline “Live” conditional offers For personal use only Expected additional Location Branch Size Timing profit contribution • Drury – C
Slide 27: Entering the next phase for ongoing growth push
Entering the next phase for ongoing growth push More opportunities to purchase sites at attractive valuations (stage of interest rate cycle). Committed development pipeline “Live” conditional offers For personal use only • Drury – Commercial site 18,000m2 • Whanganui – Cars 3,500m2 • Takanini – Cars
Slide 28: Turners Cars (Invercargill)
Turners Cars (Invercargill) For personal use only 28 • 2025 ASM PRESENTATION TURNERS AUTOMOTIVE GROUP
Slide 29: Turners Cars Christchurch
Turners Cars Christchurch 1 into 3 Turners Cars Wairakei For personal use only Turners Cars Moorhouse Turners Cars Hornby 29 • 2025 ASM PRESENTATION TURNERS AUTOMOTIVE GROUP
Slide 30: Turners Cars Hornby
For personal use only Turners Cars Hornby (Christchurch West) 30 • 2025 ASM PRESENTATION TURNERS AUTOMOTIVE GROUP
Slide 31: Turners Cars Moorhouse
Turners Cars Moorhouse (Christchurch CBD) For personal use only 31 • 2025 ASM PRESENTATION TURNERS AUTOMOTIVE GROUP
Slide 32: Turners Cars Wairakei
Turners Cars Wairakei (Christchurch Airport) For personal use only 32 • 2025 ASM PRESENTATION TURNERS AUTOMOTIVE GROUP
Slide 33: Finance Division
For personal use only Finance Division Strong brand Smart sourcing Operational agility 33 • 2025 ASM PRESENTATION TURNERS AUTOMOTIVE GROUP
Slide 34: Finance - Summary
Finance - Summary Operating Profit Contribution Finance ($M) For personal use only 20 • Total ledger is growing again. 18 18.0 16 16.0 • Through challenging economic 15.8 14 15.0 conditions, arrears have remained 12 substantially below industry norms. 12.2 12.2 10 8 • Quality continues to improve wi
Slide 35: Our finance business is back in growth mode
For personal use only Millions 200 250 300 350 400 450 500 Mar-20 May-20 Jul-20 Sept-20 Nov-20 Jan-21 Mar-21 May-21 Jul-21 35 • 2025 ASM PRESENTATION TURNERS AUTOMOTIVE GROUP Sept-21 Nov-21 Jan-22 Receivables by month (excl. impairments) Mar-22 May-22 Jul-22 Sept-22 Nov-22 Jan-23 Mar-23 May-23 Jul-2
Slide 36: We maintain our focus on credit quality
We maintain our focus on credit quality Average Centrix credit score for loans on-boarded For personal use only 740 742 740 735 730 729 722 720 712 • Oxford FY26 YTD score Average consumer CENTRIX credit score 699 703 702 700 at 745 Avg NZ auto 674 680 loan portfolio 660 659 • Premium borrower risk
Slide 37: Quality lending is something we don't compromise on
Quality lending is something we don’t compromise on Consumer arrears For personal use only 8.0% 7.0% Centrix Auto Loan Portfolio 6.0% June-25 - 5.4% 5.0% 4.0% 3.0% 2.0% Oxford Low point 1.0% of 2.0% Finance 0.0% June 2.6% Feb-24 Apr-20 Apr-21 Apr-22 Apr-23 Apr-24 Aug-20 Feb-21 Aug-21 Feb-22 Aug-22 F
Slide 38: Insurance Division
For personal use only Insurance Division Stable and consistent business Distribution networks remain strategically important Digital sales platform gaining momentum 38 • 2025 ASM PRESENTATION TURNERS AUTOMOTIVE GROUP
Slide 39: Insurance
Insurance For personal use only Operating Profit Contribution Insurance ($M) • Comprehensive Motor Insurance portfolio (underwritten by Suncorp NZ) has increased 18.0 16.0 16.2 by +25% over FY24, with sustained customer 14.0 acquisition and retention. 14.3 • Winning dealer / broker market share 12.0
Slide 40: Risk pricing and procurement moderate claims ratios
Combination of risk pricing and procurement have helped us moderate claims ratios For personal use only Mechanical Breakdown Insurance (MBI) Loss Ratio Performance 60% • Claims Cost inflation stabilising. 58% 58% 58% • Autosure’s continuous risk pricing 57% improvements, moved from 7 risk categories
Slide 41: Credit Management Division
For personal use only Credit Management Division Strong growth in both debt referred and collected Economic conditions are a tailwind Well positioned for further growth 41 • 2025 ASM PRESENTATION TURNERS AUTOMOTIVE GROUP
Slide 42: Credit Management - Summary
Credit Management - Summary For personal use only Operating Profit Contribution Credit ($M) • Debt referred has increased in all sectors with both corporate and SME businesses feeling the impact of the economy on their arrears. 7.0 6.0 6.5 • NZ wide credit metrics continue to track at the highest le
Slide 43: NZ credit arrears metrics track at year lows
NZ credit arrears metrics track at 8 year lows Consumer Arrears Trend For personal use only Source – Centrix Credit Bureau 43 • 2025 ASM PRESENTATION TURNERS AUTOMOTIVE GROUP
Slide 44: Business has funding capacity for growth plans
Business has funding capacity for growth plans Borrowings by asset class ($M) For personal use only 500 • Strong credit appetite from our panel of funders, and pricing moving in a 450 favourable direction. 400 350 • Oxford capacity is expected to support 300 lending over the next 12 months 250 200 ~
Slide 45: Looking forward
For personal use only Looking forward … 45 • 2025 ASM PRESENTATION TURNERS AUTOMOTIVE GROUP
Slide 46: Segment Outlook
Segment Outlook For personal use only Automotive Retail • Swap out of consignment cars for owned cars in 1H. • Some profit impact of Christchurch transition in Q1. • Additional cost of upweighted media for new Tina campaign in H1 ($600k). • Expect 2H26 to deliver stronger vehicle margins and volumes
Slide 47: Segment Outlook
Segment Outlook Insurance For personal use only • Earned premium holding up very well and claims ratios stable. • Contribution from new distribution arrangements and direct sales gaining momentum. • Motor vehicle insurance portfolio (underwritten by Vero) to continue to grow strongly. Credit Managem
Slide 48: Guidance
Guidance For personal use only • The economy is still patchy and consumer confidence has declined since Liberation Day. Interest rates are still restrictive and unemployment is increasing. • Despite these challenges we are still expecting a record first half performance, HY26 NPBT expected to be at
Slide 49: Shareholder Discussion
Shareholder For personal use only Discussion 49 • 2025 ASM PRESENTATION TURNERS AUTOMOTIVE GROUP
Slide 50: Resolutions
Resolutions For personal use only 50 • 2025 ASM PRESENTATION TURNERS AUTOMOTIVE GROUP
Slide 51: Resolutions
Resolutions ORDINARY RESOLUTIONS: For personal use only Resolution 1 That Baker Tilly Staples Rodway be reappointed as auditor of the Company and that the Directors be authorised to fix the auditor’s remuneration. Resolution 2 That Grant Baker, who retires by rotation pursuant to NZX Main Board List
Slide 52: Voting
Voting For personal use only PROXY Resolution: Proxies FOR AGAINST DISCRETION 1. Auditor’s reappointment / remuneration 25,548,120 122,065 2,382,960 2. Re-election of Grant Baker 19,679,626 4,115,522 2,299,329 3. Re-election of Todd Hunter 25,736,330 23,074 2,293,240 Total proxies received in respec
Slide 53: Close of meeting
Close of For personal use only meeting 53 • ASM 53 • 2025 2025PRESENTATION ASM PRESENTATION TURNERS TURNERS AUTOMOTIVE AUTOMOTIVE GROUPGROUP
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