Slide 1: FY25 Results
FY25 Results Reporting for the period ending 30 June 2025 Presenters: Mark Troughear Stephan Deschamps Aaron Stubbing Neil Wilson Chief Executive Officer Chief Financial Officer General Manager, EP General Manager, FRW
Slide 2: Disclaimer
Disclaimer Read this presentation with the financial statements: The financial results in this presentation should be read in conjunction with the financial statements for the year ended 30 June 2025, which can be found in the Freightways full year results announcement available on the NZX and ASX p
Slide 3: Presenters and Agenda
Presenters and Agenda MARK TROUGHEAR STEPHAN DESCHAMPS AARON STUBBING NEIL WILSON Chief Executive Officer Chief Financial Officer General Manager – EP General Manager - FRW Overview, Divisional Financial Summary and Divisional Strategy Divisional Strategy Performance, Capital Management (Express Pac
Slide 4: Overview
Overview > Solid result in a tough economic environment > Our diversified business model provides resilience > There are organic opportunities in all lines of business, across 3 horizons > Well-positioned balance sheet to mitigate risk and take advantage of current market conditions > Proven track r
Slide 5: Financial Highlights
Financial Highlights Revenue *EBITA growth NPAT growth *EBITA margin 6.6% 6.3% 12.9% 12.3% to $1.3b to $158.4m to $80.1m (same as FY24) Cash generated from Capex/Revenue Net Debt Dividend (FY) operations 7.9% 2.3% From 2.6% FY24 (6.4%) 8.1% To 40c ( 37c in FY24) * Non-GAAP (Generally Accepted Accoun
Slide 6: FY25 Operating Metrics
FY25 Operating Metrics Express Package Information Management 32% Digital growth NZ EP Item Growth AU EP Item Growth (AU) 0.4% 11.6% 6.5 million boxes in for FY25 for FY25 storage (NZ + AU) Temperature Controlled Waste Renewal 3PL utilisation Tonnes of paper Same customer transport volume collected
Slide 7: Market Backdrop
Market Backdrop > New Zealand GDP has reportedly lifted from its recent recessionary lows: • EP Volumes in NZ starting to recover in the second half, although the pace remains slow • Mixed performance by sector with primary industries an outperformer (FRW has less primary exposure) • Regional dispar
Slide 8: Financial Summary & Capital Management
Financial Summary & Capital Management Stephan Deschamps Chief Financial Officer Freightways FY25 Results 8
Slide 9: Freightways Group Revenue increased more than 5x from FY05 to FY25
Freightways Group Revenue increased more than 5x from FY05 to FY25 Our revenue has increased 8.9% per annum since listing REVENUE (FY2005 - FY2025) 1,400 1,200 CAGR: +15.4% 1,000 800 $M 600 CAGR: +7.0% 400 200 0 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY2
Slide 10: Positive bottom line trend in difficult environment
Positive bottom line trend in difficult environment FY25 FY24 Change Notes $m $m % FY25 Performance Overview: Operating Revenue 1,289.6 1,209.2 6.6 • Economic environment still difficult in NZ, Australia EBITA (non-GAAP) 1 158.4 149.0 6.3 more buoyant • NZ same-customers weakness mitigated by new EB
Slide 11: FRW EBITA margin stable with improvement of EP businesses
FRW EBITA margin stable with improvement of EP businesses Earning Before Interest, Tax & Amortisation 180,000 18.0% Margin performance: 160,000 16.0% 140,000 14.0% 120,000 12.0% • Group margin stable following a period of heightened 100,000 10.0% inflation, but different trends impacting $000 80,000
Slide 12: Strong Cash Flows generation supported debt reduction
Strong Cash Flows generation supported debt reduction Cash Movements 300,000 243,111 250,000 (34,703) 200,000 (34,761) 1,600 (28,973) (4,813) $000 150,000 400 100,000 (68,098) (5,092) 50,000 43,261 35,653 (57,698) (3,365) - Increase Decrease Total Freightways FY25 Results 12
Slide 13: Leverage below the mid-point of our target range
Leverage below the mid-point of our target range Capex & Net Debt to EBITDA 40,000 4.0 35,000 3.5 30,000 3.0 25,000 2.5 Number of times NZD’000 20,000 2.0 15,000 1.5 10,000 1.0 5,000 0.5 - - FY20 FY21 FY22 FY23 FY24 FY25 Capex (including software) Net debt to EBITDA (LHS) (RHS) Freightways FY25 Resu
Slide 14: FY25 Dividend on the Rise
FY25 Dividend on the Rise Dividend (cps) 50 2025 FY25 Dividend 2024 FY24 Dividend 40 30 402.4 cps x 372.7 cpsx 20 10 0 post IFRS16 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 * cps = Cents Per Share - Final dividend of 21cps, fully imputed
Slide 15: Divisional Performance
Divisional Performance Express Package & Business Mail Mark Troughear Chief Executive Officer Freightways FY25 Results 15
Slide 16: FY25 Express Package & Business Mail Result
FY25 Express Package & Business Mail Result Notes FY25 FY24 Change FY25 Performance Overview: $m $m % Operating Revenue 1,061.0 999.1 6.2 > New customer wins helped to achieve revenue growth in all businesses EBITA (non-GAAP) 1 143.3 128.4 11.6 > Same customer volume was flat in a tough NZ EBITA mar
Slide 17: Express Package & Business Mail Reversing the Margin Trend
Express Package & Business Mail Reversing the Margin Trend 1,200,000 20% 1,059,012 999,093 1,000,000 911,144 18% 800,000 16.5% 689,230 16% 635,448 NZD’000 600,000 15.0% 14% 400,000 13.3% 12.6% 12.1% 12% 200,000 - 10% FY21 FY22 FY23 FY24 FY25 Revenue EBITA EBITA margin % (LHS) (LHS) (RHS) Note: All n
Slide 18: FY25 NZ Express Package Volume (excl BCD)
FY25 NZ Express Package Volume (excl BCD) H1 Volumes H2 Volumes FY25 Volumes New Zealand: 1.5% 1.9% 0.4% > Item growth of 2.5% from Temu contributed to 1.6% of FY24 volume (all in H1) market share helped offset previous Temu volumes. NZ Express Package - Items > Strong growth from global eCommerce.
Slide 19: FY25 AU Express Package Volume
FY25 AU Express Package Volume H1 Volumes H2 Volumes FY25 Volumes Australia: 8.5% 15.2% 11.6% > Allied has performed well over FY25. With a new management team, the AU Express Package - Items business has further improved service quality, re-signed key customers and secured meaningful new business w
Slide 20: Allied Express Automation | Case Study
Allied Express Automation | Case Study Overview: Benefits: • Over the last two financial years Allied Express has added new • Allows Allied to accept all customer volumes available automated sortation systems to meet demand at their largest (automation volumes were previously capped at peak) depots
Slide 21: Big Chill 3PL Strategy | Case Study
Big Chill 3PL Strategy | Case Study Benefits: Overview: • Ruakura doubled Big Chill’s nationwide cold-storage capacity In October 2023 Big Chill opened their new 3PL superhub at • Provided more efficient storage and delivery solutions to customers Ruakura. The 21,200m2 facility holds up to 16,500 pa
Slide 22: Airfleet Strategy Update
Airfleet Strategy Update • Airwork, our JV partner in Parcelair, was placed into receivership in July 2025. The receivers are currently operating the business as a going concern • Freightways has developed a number of contingency plans that can be activated at short notice if required to ensure cont
Slide 23: 3 Horizons of Growth | Temperature Controlled
3 Horizons of Growth | Temperature Controlled Overview: Horizon 1. Extend And Defend | National Delivery • Pursue market share opportunities leveraging new infrastructure, technology and improved Refrigerated national transport service performance Temperature controlled 3PL • Implementation of B
Slide 24: 3 Horizons of Growth | Express Package & Business Mail
3 Horizons of Growth | Express Package & Business Mail Overview: Horizon 1. Extend And Defend | B2B • Focus on profitable market share gains B2B - overnight national network delivery - courier and mail • Continue to ensure service is a differentiator for customers in NZ B2C - overnight and econo
Slide 25: Divisional Performance
Divisional Performance Information Management & Waste Renewal Mark Troughear Neil Wilson Chief Executive Officer General Manager, Freightways Freightways FY25 Results 25
Slide 26: FY25 Information Management & Waste Renewal Result
FY25 Information Management & Waste Renewal Result FY25 FY24 Change Notes $m $m % FY25 Performance Overview: Operating Revenue 233.6 214.4 9.0 > Solid performance by TIMG but earnings impacted by EBITA (non-GAAP) 1 Waste Renewal performance 31.3 32.3 (3.1) EBITA margin > Revenue growth driven primar
Slide 27: 3 Horizons of Growth | Information Management
3 Horizons of Growth | Information Management Overview: Horizon 1. Extend And Defend | Storage Document Destruction Archive revenues and margins assisted through FY25 through pricing and new business. New Digitalisation customer growth expected to be stronger in AU assisted by health and gover
Slide 28: 3 Horizons of Growth | Waste Renewal
3 Horizons of Growth | Waste Renewal Overview: Horizon 1. Extend And Defend | Secure Destruction • Document Destruction • Implementing new pricing strategies to restore margin in locations where the density of collections have changed • Medical Waste • Restructure of the network to improve service a
Slide 29: Disciplined Approach to M&A | AU Opportunity
Disciplined Approach to M&A | AU Opportunity Acquisition Strategy and Investment Criteria > Well defined target characteristics: either complementary, or synergistic with existing operations > Acquisitions aligned with strategy and operating culture > Disciplined approach to acting on opportunities
Slide 30: Outlook
Outlook Mark Troughear Chief Executive Officer Freightways FY25 Results 30
Slide 31: FY26 Outlook
FY26 Outlook Volumes expected to benefit as the > Whilst NZ’s long waited recovery has been delayed for longer than economy begins to anticipated, we have seen a modest improvement in volume over the grow. last 6 months and would expect this to build some momentum in FY26 > Any positive economic mom
Slide 32: Questions?
Questions? Presenters: Mark Troughear Stephan Deschamps Aaron Stubbing Neil Wilson Chief Executive Officer Chief Financial Officer General Manager, EP General Manager, FRW Freightways FY25 Results 32
Slide 33: Appendix – Reconciliation of Post-IFRS16 to Pre-IFRS16
Appendix – Reconciliation of Post-IFRS16 to Pre-IFRS16 FREIGHTWAYS GROUP FY25 ($m) FY24 ($m) Post NZ IFRS16 NZ IFRS16 Pre NZ IFRS16 Post NZ IFRS16 NZ IFRS16 Pre NZ IFRS16 Notes adjustment (non-GAAP) adjustment (non-GAAP) Operating Revenue 1,289.6 - 1,289.6 1,209.2 - 1,209.2 EBITDA (non-GAAP) 1 248.6
Slide 34: Appendix – Reconciliation of Post-IFRS16 to Pre-IFRS16
Appendix – Reconciliation of Post-IFRS16 to Pre-IFRS16 EXPRESS PACKAGE & BUSINESS MAIL Notes FY25 ($m) FY24 ($m) Change (%) Operating Revenue 1,061.0 999.1 6.2 EBITDA (after NZ IFRS16) 1 204.7 181.9 12.5 Less: NZ IFRS16 adjustment (51.4) (44.4) 15.8 EBITDA (before NZ IFRS16) 1 153.3 137.5 11.5 EBITA
Slide 35: Appendix – Reconciliation of Post-IFRS16 to Pre-IFRS16
Appendix – Reconciliation of Post-IFRS16 to Pre-IFRS16 INFORMATION MANAGEMENT & Notes FY25 ($m) FY24 ($m) Change (%) WASTE RENEWAL Operating Revenue 233.6 214.4 9.0 EBITDA (after NZ IFRS16) 1 58.5 57.5 1.7 Less: NZ IFRS16 adjustment (22.5) (21.3) 5.6 EBITDA (before NZ IFRS16) 1 36.0 36.2 (0.6) EBITA