Cdl Investments Nz Ltd. · NZX:CDI
Cdl Investments Nz — CDL Investments New Zealand — Shareholder Meeting (May 2026)
36 slides from Cdl Investments Nz's shareholder meeting presentation, May 26, 2026
Slide 1: 42nd Annual Meeting of Shareholders
42nd Annual Meeting of Shareholders Tuesday 26th May 2026
Slide 2: Welcome
Welcome To this Hybrid Meeting This meeting is being held in person and is being webcast The Meeting Chair is Desleigh Jameson │Independent Director Directors attending in person are; Vincent Yeo │ Non-Executive Director Janie Elrick (Audit Committee Chair) │ Independent Director Directors attending
Slide 3: How to Participate in Virtual / Hybrid Meetings
How to Participate in Virtual / Hybrid Meetings Q & A Participation Online Questions Questions may be submitted ahead of the meeting. If you have a question to submit during the live meeting, please select the Q&A tab on the right half of your screen at anytime. Type your question into the field and
Slide 4: How to Participate in Virtual / Hybrid Meetings
How to Participate in Virtual / Hybrid Meetings Shareholder & Proxyholder Voting Once the voting has been opened, the resolutions and voting options will allow voting To vote, simply click on the Vote tab, and select your voting direction from the options shown on the screen. You can vote for all re
Slide 5: Meeting Formalities
Quorum Apologies Confirmation that a quorum is Apologies from various present to proceed with the shareholders will be recorded in meeting the minutes Meeting Formalities Proxies Minutes Report on proxies received and Approval of the minutes from the appointment of proxy holders 41st Annual General
Slide 6: Annual Report & Financial Statements
Annual Report & Financial Statements 2025 in context: protecting value through a subdued market • FY25 reflected subdued residential market conditions across New Zealand • Lower mortgage rates helped, but were not enough to restore purchaser confidence • Building costs, employment uncertainty and br
Slide 7: Annual Report & Financial Statements (cont.)
Annual Report & Financial Statements (cont.) Keeping the pipeline moving • Continued to advance consented and active developments including: o Iona, Havelock North, Hawke’s Bay o Wairakei Road, Harewood, Christchurch o Worsleys Road, Cashmere, Christchurch • Completed construction at Prestons Park,
Slide 8: Jason Adams, Chief Executive Officer
Chief Executive Officer Jason Adams
Slide 9: 2025 Financial Re-cap
2025 Financial Re-cap 2025 2024 Property Sales ($m) #Sections ($m) #Sections Residential Sales 34.5 $11.5 25.0% 87 5 46.0 92 Commercial Sales NIL NIL NIL NIL Total Sales Revenue 34.5 $11.5 25.0% 46.0 Rental Income ($m) #Properties ($m) #Properties Rental Income 3.6 $0.6 20.0% 4 3.0 4 $11.4 P
Slide 10: 2025 Financial Re-cap (cont.) Residential Section sales
2025 Financial Re-cap (cont.) 87 Residential Section sales from: 75 Section Sales 12 Section Sales Prestons Park, Christchurch Iona Stage 1, Havelock North
Slide 11: Commercial Warehouses FY2025
2025 Financial Re-cap (cont.) Commercial Warehouses FY(2025) $2.3m 72% Lease Revenue Total Investment Property Revenue 16,402m 2 100% Net Lettable Area Leased 4.0 yrs $2.31m WALE Fully Occupied Rental (p.a.)
Slide 12: Suburban Retail Centres FY2025
2025 Financial Re-cap (cont.) Suburban Retail Centres FY(2025) $0.9m 28% Lease Revenue Total Investment Property Revenue Prestons Park Local Centre 3,411m 2 83% Net Lettable Area Leased 3.8 yrs $1.2m WALE Fully Occupied Rental (p.a.) Stonebrook Local Centre
Slide 13: NZ Property Market Drivers in 2025
NZ Property Market Drivers in 2025 Rising, but levelling inflation: Consumer Price Index (CPI) (Annual % Change) Annual inflation 2025 3.1% 0.9% (on 2024) • Annual Inflation 2024: 2.2% • Pre-Covid Pandemic (Feb-20): 2.5% • Pandemic Low (Sept-21): 1.5% • Post Pandemic Peak (Jun-2022): 7.3% Source:
Slide 14: NZ Property Market Drivers in 2025 (cont.)
NZ Property Market Drivers in 2025 (cont.) Net migration down Estimated migration by direction 2001 - 2025 2025 2024 • Migration Arrivals: 134,000 142,300 • Migration Departures: 119,800 118,500 • Net Migration (Gain): 14,200 23,800 Source: Stats NZ Unemployment rate, seasonally adjusted 2012 - 20
Slide 15: NZ Property Market Drivers in 2025 (cont.)
NZ Property Market Drivers in 2025 (cont.) • Easing mortgage rates and favourable bank lending was positive for section purchasers • Other factors influenced purchaser decisions, causing them to “sit on their hands” o Building costs remain high o High “Existing Residential Housing Inventory” provide
Slide 16: Completed Project – Prestons Park
Completed Project – Prestons Park Completed in 2025 Development Summary • Land purchased in two tranches: o 2004 – 2006 70.3ha o 2017 – 2018 20.2ha • Original Prestons Park Plan Change rejected by Christchurch City Council • Prestons identified as Earthquake Recovery Project under CERA Act, post Can
Slide 17: Completed Project – Prestons Park (cont.)
Completed Project – Prestons Park (cont.) Development Summary (cont.) • Subdivision consent obtained in 6 stages with 55 sub-stages • Total sections: o Residential lots = 1021 o Commercial lots = 1 (retail centre) • Stage 1 earthworks commenced Sep-2014 • First sales realised in Feb-2016 (stage 1) •
Slide 18: Completed Project – Prestons Park (cont.)
Completed Project – Prestons Park (cont.) CDL builds communities
Slide 19: Key Projects — Iona Overview
Key Projects — Iona Overview Iona Stage 1 • Subdivision Consent issued July-23 • Titles stages 1A & 1B (34 lots) issued May-25 • Titles stages 1C & 1D (56 lots) issued Sep-25 • Titles stages 1E & 1F (16 lots) programmed to issue Oct-26, after Iona Road upgrade • Middle Road upgrade fully completed a
Slide 20: Key Projects — Iona Overview (cont.)
Key Projects — Iona Overview (cont.) Iona Stage 2 • Subdivision Consent obtained for: o 121 Standard residential lots o 2 Comprehensive residential lots and o 28 comprehensive units • Bulk earthworks 95% complete with scheduled completion end May-26 • Civils scheduled to commence Sep-26 • Section sa
Slide 21: Key Projects — Iona Overview (cont.)
Key Projects — Iona Overview (cont.) Iona Stage 3 – Fast-Track Project • FDS expert hearing panel recommended approval of CDL’s Middle Road Urban Development Plan Application • HDC elected councillors rejected FDS hearing panels’ recommendation, removing Middle Road Future Urban Area from FDS • CDL
Slide 22: Key Projects — Wairakei Overview
Key Projects — Wairakei Overview Wairakei Road Light industrial development (10.1ha) • Land purchased 2024 • Earthworks consent approved Apr-25 • Earthworks commenced Oct-25, scheduled completion May-26 • Subdivision consent approved for 29 light industrial lots • Civil works scheduled to commence l
Slide 23: Key Projects — R2 Fast-Track Overview
Key Projects — R2 Fast-Track Overview Gordonton Road Ruakura 2 (R2) Growth Cell • R2 project accepted as “Listed Project” in Fast-Track Approvals Act • Master planning and infrastructure design underway • Mix of residential and industrial land use/zoning • Settled 6.5ha and acquired 1.62ha in 2025 •
Slide 24: Key Projects — Arataki Fast-Track Overview
Key Projects — Arataki Fast-Track Overview Arataki Road • CDL progressed project through Fast- Track process: o Application lodged Jul-25 o Fast-Track consent approved Feb-26 • 171 Residential sections • Earthworks planned to commence late 2026, subject to subdivision infrastructure approval • Stage
Slide 25: Our Pipeline
Our Pipeline AUCKLAND PROJECTS We have a solid pipeline • Trig Road, West Harbour • Total landholding 305ha HAMILTON PROJECTS • Gordonton Road, Puketaha • 10 Development Project sites • Maintained a nationwide geographical spread • Regionally diverse portfolio, offers flexibility for diversification
Slide 26: 2025 Climate Change Reporting
2025 Climate Change Reporting • Changes in 2025 resulted in CDI no longer being a mandatory Climate Reporting Entity (CRE) • CDI maintained its Toitū Certification for FY25 • CDI Board is reviewing its climate change strategy in 2026 as part of a wider Environmental, Social and Governance (ESG) proj
Slide 27: Abbi Wong
New Appointment Abbi Wong Company Secretary / General Counsel We are pleased to welcome Abbi Wong to CDL Investments as Company Secretary and General Counsel. Abbi brings valuable expertise to the team and will play a key role in supporting the company’s governance and legal functions
Slide 28: April 2026 YTD Sales
April 2026 YTD Sales • Residential section settlements 2026 YTD: $5.7m • Unconditional sales yet to settle in 2026: $10.6m • Conditional sales yet to confirm/settle in 2026: $2.5m Hawke’s Bay • Iona Stage 1, • 2026 Sales/settlements from: Havelock North, Hawke’s Bay o Iona, Havelock North, Hawke’s B
Slide 29: Outlook
Outlook • The encouraging signs of a residential recovery we saw at the beginning of the year, have not continued • Recent geopolitics has impacted confidence and slowed the momentum that started to emerge • In this uncertain environment, we expect earnings for 2026 to be considerably lower than tho
Slide 30: Resolutions for Approval
Resolutions for Approval Resolution 1 1 Re-Election of Eik Sheng Kwek as Director Resolution 2 2 Election of Julian Smith as Director Resolution 3 3 Remuneration of the Auditors
Slide 31: Eik Sheng Kwek
Re-Election of Director Resolution 1 Eik Sheng Kwek Non-Executive Director Retiring by rotation in accordance with the NZX Listing Rules and the Company’s constitution, and being eligible, offers himself for re-election
Slide 32: Julian Smith
Election of Director Resolution 2 Julian Smith Independent Director Having been appointed by the Board since the last Annual Meeting of Shareholders, offers himself for election in accordance with the NZX Listing Rules and the Company’s constitution
Slide 33: KPMG
Auditors Appointment and Remuneration Resolution 3 KPMG Company Auditors No other nomination received – KPMG are reappointed as the Company’s Auditors Resolution: that the Directors be empowered to fix the remuneration of the Auditors for the year ending 31 December 2026
Slide 34: General Business
General Business Items for discussion by shareholders and the Board.
Slide 35: Questions & Answers
Questions & Answers We welcome your questions and comments
Slide 36: Thank You
Thank You for your continued trust and support CDL Investments New Zealand Limited | Annual General Meeting 2026 cdlinvestments.co.nz | admin@cdli.co.nz
CDL Investments New Zealand — Shareholder Meeting (May 2026) on 6ix