Turners Automotive Group Ltd · NZX:TRA
Turners Automotive — Shareholder Meeting (August 2026)
60 slides from Turners Automotive's shareholder meeting presentation, Aug 19, 2026
Slide 1: 2026 Annual Meeting Presentation
2026 Annual For personal use only Meeting Presentation 19 August 2026 1 • 2026 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 • 2026 ASM PRESENTATION TURNERS AUTOMOTIVE GROUP
Slide 5: For personal use only
For personal use only 5 • 2026 ASM PRESENTATION TURNERS AUTOMOTIVE GROUP
Slide 6: For personal use only
For personal use only • Record result with resilient used car market • Staying on the front foot with expansion plans • Increased funding headroom at lower rates • Tough economic backdrop playbook re-deployed 6 • 2026 ASM PRESENTATION TURNERS AUTOMOTIVE GROUP 6 • 2026 ASM PRESENTATION TURNERS AUTOMO
Slide 7: Successful strategy and execution continues to deliver record results
Successful strategy and execution continues to deliver record results Operating profit contribution by segment ($M) Dividend per Share ($) For personal use only 80 0.35 0.330 70 0.290 0.30 60 0.255 0.25 0.230 0.230 Operating Profit ($M) 50 0.200 0.20 40 0.170 0.155 0.145 0.140 30 0.15 0.130 0.100 20
Slide 8: Turners continues to deliver on its growth commitments
Turners continues to deliver on its growth commitments… For personal use only 1. The FY26 result extended our track record of resilience, by again delivering another record, despite an extremely challenging consumer environment. 2. FY26 dividend of 33.0 cps up +14 % on FY25 and continues the run of
Slide 9: FY26 Results snapshot
FY26 Results snapshot Revenue Revenue Normalised EBIT 1 For personal use only 500.0 $451.2M +9% $70.6M +14% 400.0 Reported Net Profit Before Tax Reported Net Profit After Tax Millions 300.0 2H $55.7M +3% $38.2M -1% 200.0 1H 100.0 Normalised Net Profit Before Tax 2 Normalised Net Profit After Tax 2 -
Slide 10: We operate to a simple formula
For personal use only We operate to a simple formula 10 • 2026 ASM PRESENTATION TURNERS AUTOMOTIVE GROUP 10 • 2026 ASM PRESENTATION TURNERS AUTOMOTIVE GROUP
Slide 11: For personal use only
67% of our team Winner of Most Trusted A decade of increasing people own shares in Used Car Dealership 7 dividends and share price For personal use only Turners years running growth for shareholders (except for 2020) Quality Quality Quality outcomes environment + customer = for our for our people ex
Slide 12: Turners has delivered sustainable dividend growth
Turners has delivered sustainable dividend growth For personal use only Dividend per Share ($) 35.0 33.0 30.0 29.0 COVID impacted year 25.5 • Continued the track record of delivering strong, sustainable and growing dividends in the business 25.0 23.0 23.0 20.0 (CAGR 10.5% over 12 years). 20.0 17.0 1
Slide 13: Future Growth
For personal use only Future Growth 13 • 2025 ASM PRESENTATION TURNERS AUTOMOTIVE GROUP 13 • 2026 ASM PRESENTATION TURNERS AUTOMOTIVE GROUP
Slide 14: We hold ourselves to account
We hold ourselves to account We have published 4 multi-year profit targets since Mar-22 with our latest target of $100M in FY31 announced in Mar-26 at our investor day. For personal use only Net Profit Before Tax ($M) 110.0 Target #4 of $100M NPBT by FY31 100.0 90.0 • 50% organic growth on top of th
Slide 15: Why I continue to love this company
Why I continue to love this company For personal use only • I love cars • Management, wider team and board “skin in the game” • Strong culture and highly engaged team, with ownership mindset = powerful combo • Our used car platform it is extremely difficult to replicate • A strong focus on growth an
Slide 16: One key message today
For personal use only One key message today… “There is a lot more to come...” 16 • 2026 ASM PRESENTATION TURNERS AUTOMOTIVE GROUP
Slide 17: CEO's Update
For personal use only CEO’s Update Todd Hunter 17 • 2026 ASM PRESENTATION TURNERS AUTOMOTIVE GROUP
Slide 18: Used car market resilient, dealer numbers flat lined
Used car market resilient, dealer numbers flat lined % Change Yr on Yr, New Car vs Used Car Sales Registered Dealer Numbers NZ (source MBIE) For personal use only 50% Used Car % Change Y on Y 3,800 40% 3,600 New Car & LCV % Change Y on Y 30% 3,400 20% 3,200 3,518 10% Feb-18 3,000 0% 2001 2003 2005 2
Slide 19: The impact of the fuel crisis on mix of new cars sold has been material
The impact of the fuel crisis on mix of new cars sold has been material Market share of new car sales by fuel type Fuel crisis For personal use only 35% 30% 25% 20% Diesel 15% 10% 5% 0% June August June February February March April November March April January January May May July October September
Slide 20: The impact of the fuel crisis on mix of new cars sold has been material
The impact of the fuel crisis on mix of new cars sold has been material Market share of new car sales by fuel type Fuel crisis For personal use only 45% 40% 35% 30% 25% Petrol 20% Diesel 15% 10% 5% 0% June August June February February March April November March April January January May May July Oc
Slide 21: The impact of the fuel crisis on mix of new cars sold has been material
The impact of the fuel crisis on mix of new cars sold has been material Market share of new car sales by fuel type Fuel crisis For personal use only 45% 40% 35% 30% 25% Petrol 20% Diesel BEV/PHEV 15% 10% 5% 0% June August June February February March April November March April January May January Ma
Slide 22: The impact of the fuel crisis on mix of new cars sold has been material
The impact of the fuel crisis on mix of new cars sold has been material Market share of new car sales by fuel type Fuel crisis For personal use only 45% 40% 35% 30% 25% Petrol Diesel 20% Hybrid BEV/PHEV 15% 10% 5% 0% June August June February February March April November March April January May Jan
Slide 23: Business Divisions
Business For personal use only Divisions 23 • 2025 ASM PRESENTATION TURNERS AUTOMOTIVE GROUP 23 • 2026 ASM PRESENTATION TURNERS AUTOMOTIVE GROUP
Slide 24: Great businesses that are even better together
For personal use only One key message today… “Great businesses that are even better together” 24 • 2026 ASM PRESENTATION TURNERS AUTOMOTIVE GROUP
Slide 25: Building a used car platform
Building a used car platform For personal use only Finance Insure Service and Sell a car Buy a car a car a car repair a car 25 • 2026 ASM PRESENTATION TURNERS AUTOMOTIVE GROUP
Slide 26: Auto Retail Division
For personal use only Auto Retail Division Brand strength Agile sourcing Cost focus 26 • 2026 ASM PRESENTATION TURNERS AUTOMOTIVE GROUP
Slide 27: Auto Retail – FY26 Summary
Auto Retail – FY26 Summary For personal use only Operating Profit Contribution Auto Retail ($M) • FY26 NZ auto market conditions were challenging in 1H26 but improved throughout 35.0 2H26. 30.0 31.8 32.6 • Our sourcing initiatives, pricing optimisation and 29.1 stock management discipline during 1H
Slide 28: Branch expansion pipeline
Branch expansion pipeline No profit impact from new branches in FY27, but the pipeline is building well. Committed development pipeline “Opportunities” pipeline For personal use only Expected additional Location Branch Size Timing profit contribution New locations • Takanini (Lease) Roscommon Rd - M
Slide 29: New Turners Cars site Wiri - Auckland
New Turners Cars site Wiri - Auckland For personal use only • 10,000m2, owned since 2017 • Transitioning from a Trucks and Machinery Branch to a Cars branch • Yard and building works expected to be completed in Q1FY28 • Expected to contribute additional $700k PBT annually. 29 • 2026 ASM PRESENTATIO
Slide 30: Wiri Concept
For personal use only Wiri Concept 30 • 2026 ASM PRESENTATION TURNERS AUTOMOTIVE GROUP
Slide 31: New Turners Cars site Greerton - Tauranga
New Turners Cars site Greerton - Tauranga For personal use only • 7,600m2, owned since 2026 • Demolition and building works well underway • New yard and building works completed in Q1FY28 • Expected to contribute additional $600k PBT annually. 31 • 2026 ASM PRESENTATION TURNERS AUTOMOTIVE GROUP
Slide 32: For personal use only
For personal use only 32 • 2026 ASM PRESENTATION TURNERS AUTOMOTIVE GROUP 32 • 2026 ASM PRESENTATION TURNERS AUTOMOTIVE GROUP
Slide 33: Greerton Concept
For personal use only Greerton Concept 33 • 2026 ASM PRESENTATION TURNERS AUTOMOTIVE GROUP 33 • 2026 ASM PRESENTATION TURNERS AUTOMOTIVE GROUP
Slide 34: New Turners Cars site Whanganui
New Turners Cars site Whanganui For personal use only • 3,400m2, owned since 2026 • Demolition completed and building works well underway • New yard and building works completed in Q1FY28 • Expected to contribute additional $500k PBT annually. 34 • 2026 ASM PRESENTATION TURNERS AUTOMOTIVE GROUP
Slide 35: Turners Cars (Invercargill)
Turners Cars (Invercargill) For personal use only 35 • 2026 ASM PRESENTATION TURNERS AUTOMOTIVE GROUP 35 • 2026 ASM PRESENTATION TURNERS AUTOMOTIVE GROUP
Slide 36: New Turners Cars site Hastings
New Turners Cars site Hastings For personal use only • 4,300m2, owned since 2026 • Planning and consenting process underway • Building works completed in Q1FY28 • Expected to contribute additional $600k PBT annually. Albert St 36 • 2026 ASM PRESENTATION TURNERS AUTOMOTIVE GROUP
Slide 37: For personal use only
For personal use only 37 • 2026 ASM PRESENTATION TURNERS AUTOMOTIVE GROUP
Slide 38: Replacement Turners Cars site Hamilton
Replacement Turners Cars site Hamilton For personal use only • 8,000m2, owned since 2026 • Planning and consenting process underway • Building works completed in Q3FY28 • Expected to contribute additional $400k PBT annually. 38 • 2026 ASM PRESENTATION TURNERS AUTOMOTIVE GROUP
Slide 39: For personal use only
For personal use only 39 • 2026 ASM PRESENTATION TURNERS AUTOMOTIVE GROUP
Slide 40: Replacement Turners Trucks & Machinery site Drury
Replacement Turners Trucks & Machinery site Drury For personal use only • 18,000m2 highly visible site adjacent to SH1, leased site. • Owner completing building works completed in Q4FY27 • Expected to contribute additional $200k PBT annually. 40 • 2026 ASM PRESENTATION TURNERS AUTOMOTIVE GROUP
Slide 41: Finance Division
For personal use only Finance Division Loan book in growth mode Funding in place to support growth Generating operating leverage 41 • 2026 ASM PRESENTATION TURNERS AUTOMOTIVE GROUP
Slide 42: Finance - Summary
Finance - Summary Operating Profit Contribution Finance ($M) For personal use only 22.0 19.2 • Strong market share gains in FY26 17.0 18.0 15.8 16.0 • Consumer lending has increased while commercial 15.0 lending has decreased. Our credit policies have 12.0 continued to be tightened over the last 12
Slide 43: Our finance business is back in growth mode
Our finance business is back in growth mode Receivables by month (excl. impairments) For personal use only 650 7.5% book growth Millions in first 4 months 600 of FY27 550 500 Pricing discipline 450 400 350 300 250 200 43 • 2026 ASM PRESENTATION TURNERS AUTOMOTIVE GROUP
Slide 44: 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-26 - 5.2% 5.0% 4.0% 3.0% 2.0% Oxford Finance 1.0% July – 2.1% 0.0% Jan-21 Jan-22 Jan-23 Jan-24 Jan-25 Jan-26 Jul-21 Apr-20 Apr-21 Apr-22 Apr-23 Apr-24 Apr-25 Apr
Slide 45: Insurance Division
For personal use only Insurance Division Stable and consistent business Distribution networks strategically important Digital direct platform building 45 • 2026 ASM PRESENTATION TURNERS AUTOMOTIVE GROUP
Slide 46: Insurance
Insurance For personal use only Operating Profit Contribution Insurance ($M) 20.0 • Strong premium growth overall with key dealer and 18.0 finance broker partnerships the primary driver of 16.0 17.3 premium growth. 16.2 14.0 14.3 • Direct to consumer offering for Comprehensive Motor 12.0 12.5 vehicl
Slide 47: Turners Servicing and Repairs
For personal use only Turners Servicing and Repairs Brand change Growing the customer base Growing the network 47 • 2026 ASM PRESENTATION TURNERS AUTOMOTIVE GROUP
Slide 48: Turners Servicing and Repairs
Turners Servicing and Repairs For personal use only • VTNZ WoF Wizard, WoF failures made simple for ~240k (or 40%) failures p.a. • Success with SME fleet owners and getting traction with lease vendors • Cross sell opportunities with Turners wider customer base Eg. Service Plans sold with cars, repai
Slide 49: Credit Management Division
For personal use only Credit Management Division Challenging environment Payment bank rebuilding Growing SME business 49 • 2026 ASM PRESENTATION TURNERS AUTOMOTIVE GROUP
Slide 50: Credit Management - Summary
Credit Management - Summary For personal use only • Referral volumes were constrained throughout the year due Operating Profit Contribution Credit ($M) to several large clients placing temporary holds on debt 7.0 referrals while undertaking major system implementations. 6.0 6.5 • Collections perform
Slide 51: NZ credit arrears metrics lowest since 2021
NZ credit arrears metrics lowest since 2021 Consumer Arrears Trend For personal use only • Consumers being ultra- cautious • Consumers more aware of credit scores and impact of defaults • Building savings buffers and keeping on top of commitments as anticipating increase in interest rates, unemploym
Slide 52: Business has funding capacity for growth plans
Business has funding capacity for growth plans. All investment decisions require a 15% ROE hurdle. For personal use only Borrowings by asset class ($M) as at Mar-26 • In Oct-25 a new $200M warehouse was 600 566 established in an inaugural public term out transaction. 500 449 • Significant improvemen
Slide 53: Looking forward
For personal use only Looking forward … 53 • 2026 2025 ASM PRESENTATION TURNERS AUTOMOTIVE GROUP
Slide 54: Outlook
Outlook What has changed • Lower demand because of fuel shock: The Middle East conflict has persisted, slowing New Zealand’s economic recovery and For personal use only denting consumer confidence. Higher fuel prices have materially reduced demand for diesel and larger petrol engine vehicles resulti
Slide 55: Outlook
Outlook For personal use only What it means • Target unchanged, but short-term risks persist: We continue to target $65m NPBT in FY27. Without a resolution to the Middle East situation and a recovery in consumer confidence, sales of large engine vehicles and diesel product are likely to remain chall
Slide 56: Shareholder Discussion
Shareholder For personal use only Discussion 56 • 2026 2025 ASM PRESENTATION TURNERS AUTOMOTIVE GROUP
Slide 57: Resolutions
Resolutions For personal use only 57 • 2026 2025 ASM PRESENTATION TURNERS AUTOMOTIVE GROUP
Slide 58: 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 Matthew Harrison, who retires by rotation pursuant to NZX Ma
Slide 59: Voting
Voting For personal use only PROXY Resolution: Proxies FOR AGAINST DISCRETION 1. Auditor’s reappointment / remuneration 23,765,850 112,629 2,225,991 2. Re-election of Matthew Harrison 18,530,570 5,244,569 2,326,262 3. Re-election of Lauren Quaintance 23,760,108 8,856 2,326,262 3. Re-election of John
Slide 60: Close of meeting
Close of For personal use only meeting 60 • ASM 60 • 2025 2026PRESENTATION ASM PRESENTATION TURNERS TURNERS AUTOMOTIVE AUTOMOTIVE GROUPGROUP
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