Mainfreight Limited · NZX:MFT
Mainfreight — Shareholder Meeting (July 2026)
40 slides from Mainfreight's shareholder meeting presentation, Jul 30, 2026
Slide 1: Mainfreight Limited Annual Meeting of Shareholders
MAINFREIGHT LIMITED ANNUAL MEETING OF SHAREHOLDERS 30 July 2026
Slide 2: Introduction to our Regional Management Team
Introduction to our Regional Management Team Carl George -31 years with Mainfreight, leading NZ since 2022 Ben Fitts -19 years with Mainfreight, leading Europe since 2015 Rodd Morgan -23 years with Mainfreight, leading Australia since 2011 Cary Chung -15 years with Mainfreight, leading Asia since 20
Slide 3: Introduction to our Regional Management Team
Introduction to our Regional Management Team Martin Devereux -25 years with Mainfreight, leading our Training and Development team since 2010 John Eshuis - 23 years with Mainfreight, leading our IT team since 2021 Graeme Illing - 25 years with Mainfreight, leading our Finance team since 2024 Martin,
Slide 4: New Zealand - Carl George
New Zealand Carl George
Slide 5: New Zealand Update
New Zealand Update The current year has started well ✓ Up-trading from existing customers across all divisions ✓ New customer gains trading or in the onboarding stage ✓ Transport volumes across all key metrics trading up ✓ Strong new business sales pipelines ➢ Prior comparative period was difficult
Slide 6: New Zealand – Immediate focuses
New Zealand – Immediate focuses ➢ Warehouse utilisation – ensure we are maximising capacity across all sites. ➢ Interisland freight solutions – provide a range of multi-modal options across coastal shipping, rail and road, in conjunction with warehousing options in Christchurch. ➢ Integration of chi
Slide 7: Chilled Transportation
Chilled Transportation Growth Opportunities in Chilled: ➢Transportation ➢Warehousing Christchurch ➢Warehousing Auckland 2028 ➢Provides network opportunities for Air & Ocean Complements our grocery sector growth 7
Slide 8: Mania – Christchurch Chilled / Ambient Warehouse
Mania – Christchurch Chilled / Ambient Warehouse – 34,000 Pallets – Leased – Open July 2026 Consolidation of smaller overflow warehouses 8
Slide 9: Nelson Transport Cross-Dock and Air & Ocean
Nelson Transport Cross-Dock and Air & Ocean - Owned – Due 1st quarter 2027 Domestic Freight Growth 9
Slide 10: Blenheim Transport Cross-Dock and Bulk Wine Wash
Blenheim Transport Cross-Dock and Bulk Wine Wash – Leased – Due 1st quarter 2027 Leveraging our beverage customer verticals 10
Slide 11: Wiri Auckland – Chilled / Ambient Warehouse
Wiri Auckland – Chilled / Ambient Warehouse – 55,000 Pallets – Leased – Due Mid 2028 Growth opportunities remain in Auckland 11
Slide 12: Interisland Ferries – Two Operators
Interisland Ferries – Two Operators ➢Challenge through to 2029 ➢Two-ferry options available ➢We have secured space ➢Maximised rail capacity available – will increase in 2029 ➢Deep sea coastal options ➢Warehouse opportunities ➢New ferries with 44% increased capacity 12
Slide 13: Europe - Ben Fitts
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Slide 14: Europe Update
Europe Update An improved start to the new year for each division ➢ Air & Ocean gains assisting volume and revenue growth across all modes ➢ Transport volumes up, efficiency improvement remains a focus ➢ Improving warehouse utilisation and efficiency ➢ New customer gains and commitments give confide
Slide 15: Mainfreight Europe
Norway Mainfreight Europe Finland Netherlands Amsterdam Utrecht Rotterdam ‘s-Heerenberg Rotterdam Antwerp Zaltbommel Ostend Tilburg Sweden ➢ Transitioning from a strong Dutch Ghent Born Estonia Brussels Genk business to a broader Europe-centric Belgium Latvia business Denmark Lithuania Ireland ➢ App
Slide 16: Network development objectives
Network development objectives Air & Ocean ➢ Romania ➢ Nordics, Sweden ➢ Ireland – target Transport ➢ Belgium, Southwest ➢ Netherlands, Amsterdam ➢ Germany Warehousing ➢ Poland, Katowice ➢ Romania Ploesti extension ➢ Germany 16
Slide 17: Key initiatives / Opportunities and Challenges
Key initiatives / Opportunities and Challenges ➢Financial returns currently unsatisfactory ✓ Customer growth in countries outside of the Netherlands is improving ✓ Efficiency improvement a focus for each product, better utilisation key to improving warehousing margins. ➢Sales Development has been sa
Slide 18: Australia - Rodd Morgan
Australia Rodd Morgan
Slide 19: Australia Update
Australia Update Current year started well although comparisons to last year have settled expectedly ➢ Profit improvement from last year expected to continue ➢ Healthy customer mix assisting – Retail, Food, Bev, DIY, Chem, Ag ➢ Existing customer trading is up despite a tight, albeit resilient econom
Slide 20: Australia – Immediate focuses
Australia – Immediate focuses Under Performing Branches ➢ 22 of 71 behind last year, six in loss = $15M opportunity ➢ Addressing branch by branch Middling Air & Ocean Performance ➢ Steady but pace of growth is uninteresting ➢ Over reliance on China imports & export volumes stagnant ➢ Sales teams and
Slide 21: Australia – Property & Network Development – Recently Completed: Willawong
Australia – Property & Network Development – Recently Completed Willawong - Owned • Site Details • Building total 15,298m2 • 8Ha site • 34 rear loading docks • 8 x driver sleeping quarters • Sustainability • Potable Rainwater Filtration system • 600,000L of rainwater storage • 1MW solar system and 2
Slide 22: Australia – Property & Network Development – Recently Completed
Australia – Property & Network Development – Recently Completed • Townsville | Transport - Leased • Melbourne | Air - Leased • 5,460m2 Specialised Airfreight & Perishable Facility • 4,500m2 Regional Growth Depot • 260m2 Freezer, 750m2 Chiller, 1,870m2 Ante Room • Moved in November 2025 • Moved in Ma
Slide 23: Australia – Property & Network Development - Upcoming
Australia – Property & Network Development - Upcoming • Perth | Transport - Leased • Hazelmere replacement • 11,742m2 building total • Estimated completion November 2027 Domestic Freight growth 23
Slide 24: Asia - Cary Chung
Asia Cary Chung
Slide 25: Where will our Growth come from?
Where will our Growth come from? Increased sales growth of LCL ocean freight Why it matters: Higher revenue, better margins, and reduced dependence on nominated cargo Actions ✓ Grow import-controlled business where decisions are increasingly being made within Asia ✓ Singapore based sales team target
Slide 26: Where will our Growth come from?
Where will our Growth come from? Focus Sales Investment on High-Growth Trade Lanes ➢ USA Asia ➢ Intra-Asia ➢ Europe Asia ➢ Australia/NZ Asia ➢ India International Network These sectors generate better margins and broader logistics opportunities: ✓Healthcare, Pharma & Medical Devices ✓Food & Beverage
Slide 27: Warehousing Strategy - Lessons Learned & Future Direction
Warehousing Strategy - Lessons Learned & Future Direction ▪ Warehousing success depends on customer relationships – not warehouse space ▪ Warehousing in Asia has underperformed where capacity was established ahead of secured customer demand. ▪ Until our business in Asia has larger import customers,
Slide 28: Margin Outlook
Margin Outlook We expect margin improvement through: More Asia controlled freight Growth in Airfreight and LCL products Greater network utilization Key Shareholder Message We have tremendous growth opportunities across Asia including China by leveraging our customers across the Mainfreight Internati
Slide 29: Americas - Jason Braid
Americas Z Jason Braid | |
Slide 30: Americas Update
Americas Update Our Problems ➢ Transport – Loss making ➢ Warehousing – Marginal profits ➢ CaroTrans – Loss making Our Improvements ✓ Air & Ocean – Satisfactory profits 30
Slide 31: Transport and CaroTrans
Transport ➢ Poor linehaul utilisation and delivery performance ➢ Linehaul utilisation is up from 68% to 78% ➢ Customer retention issues due to quality ➢ Customer DIFOT improving ➢ Revenue growth and customer retention improving ➢ Tonnage and shipment numbers up ➢ Dallas and Chicago branches are poor
Slide 32: Warehousing and Air & Ocean
Warehousing ➢ Chicago, Pennsylvania and Atlanta branches best performing ➢ Poor performing branches ➢ Newark, Dallas and Los Angeles ➢ Utilisation and customer growth disappoints ➢ Dallas branch is improving ➢ Our largest branch with greatest potential for significant profit ➢ Consolidation of our t
Slide 33: Outlook
Outlook ➢Customer retention and growth improving ➢ Significant opportunities remain ➢ 29% of customers utilise two divisions ➢ 16% of customers utilise three divisions ➢Overall profitability improving ➢ Last 14 weeks losses halved in both Transport and CaroTrans ➢ Air & Ocean continues to perform we
Slide 34: Don Braid, Group Managing Director
Don Braid Group Managing Director
Slide 35: Improving Growth and Profit Performance
Improving Growth and Profit Performance Pleasing, cautious improvement across all regions: ➢ NZ Improving off the back of a difficult time in the year prior and strong sales activity ➢ Australia continuing to claim more market share ➢ Asia is focused on revenue and margin improvements, particularly
Slide 36: One Mainfreight
One Mainfreight ➢ Taking advantage of our international network ✓ Grow the intensity (branches) within regions and add more countries Air & Ocean, Warehousing, Transport ➢ Supply chain freight services for all our customers ✓ Top 500 customers using all three key products/services 2026 – 39% to 41%
Slide 37: Trading Update: 16 weeks 1 April – 19 July 2026
Trading Update: 16 weeks 1 April – 19 July 2026 Profit $000 Revenue* Var % Var % ROR Before Tax New Zealand NZ$ 418,752 21.0% 40,491 79.1% 9.7% Australia AU$ 473,897 5.5% 40,867 22.1% 8.6% Americas US$ 214,560 14.2% 2,488 181.1% 1.2% Europe EU€ 216,629 14.4% 10,609 114.9% 4.9% Asia US$ 36,981 -5.1%
Slide 38: Trading Update: Our Three Core Products
Trading Update: Our Three Core Products (16 weeks 1 April – 19 July 2026) NZ$000 REVENUE VAR % PBT VAR % ROR Transport 888,744 24.5% 69,106 125.1% 7.8% Warehousing 289,617 9.5% 16,270 90.2% 5.6% Air & Ocean 667,356 13.1% 35,603 24.2% 5.3% Total 1,855,717 17.7% 120,979 78.1% 6.5%
Slide 39: Future Capital Expenditure Update: F27-28
Future Capital Expenditure Update: F27-28 Property and Fit-out forecast F27-F28 As at 31 March 2026: • Bank debt reduced by NZ$24.5million to New Zealand NZ$ 63 million NZ$99.9million drawn Australia* AU$ 25 million • Total bank facilities of NZ$510million Americas US$ 15 million • Cashflows remain
Slide 40: We remain cautiously optimistic
We remain cautiously optimistic