Full Year Audited Result to 30 June 2024

Quayside Holdings Limited and subsidiaries (“the Group”) is pleased to report its full year results for the year ending 30 June 2024. The year 2024 has underscored the importance of strategic diversification and resilience in our investment approach. Market volatility and central bank actions aimed at controlling inflation have dramatically reshaped sector dynamics. Our active strategy of diversifying investment positions and market exposures has been instrumental in navigating these challenges, ensuring that our investment strategies are robust and adaptable. Our portfolio's performance reflects our commitment to long-term sustainable value creation. Despite sector-specific challenges, our investments in private equity, fixed income, and global equities have yielded positive results. Noteworthy achievements include strong returns from New Zealand equities and resilient performances in our real estate holdings, amidst market fluctuations. Overall investment performance has been positive due to our diversified asset mix, allowing us to return an increased dividend to our shareholder year on year. The Group is pleased to have been able to provide net distributions of $45.0 million to Bay of Plenty Regional Council and $9.6 million to Perpetual Preference Shareholders. All dividends were fully imputed. Operating Performance The Port of Tauranga have proven its resilience in the face of global economic headwinds with cargo volumes improved in the second half of the year. The second half of the financial year saw higher volumes than the first half, with container numbers increasing 13.7% and total trade growing 3.3% between the two six-month periods. The consolidated group profit after tax of $85.5 million is a 29.3% decline on the 2023 result. Quayside continues to retain a majority shareholding in the Port of Tauranga of 54.14%, valued at $1.74 billion. Global macroeconomic, environmental and geopolitical headwinds continued over the last 12 months, which have had an impact on our portfolio. Quayside recorded a loss after tax of $5.4 million and a normalised profit after tax of $3.3 million. This compares to $3.8 million profit in 2023. The diversity of our portfolio has held us in good stead delivering a 5-year rolling return of 7.5%. Environmental, Social and Governance Issues (ESG) This fiscal year we introduce our first climate related disclosure report, embedding our commitment to understanding our climate risks and opportunities and targeting positive change. The report will be released in line with the statutory timeline. The more detailed annual report will be available on the Quayside website and to shareholders in September. Attachments • Results Announcement Template • Full year audited financial statements to 30 June 2024