Fliway : 1HFY17 Fliway Interim Results Presentation

FLIWAY GROUP LIMITED HALF YEAR RESULTS PRESENTATION

For the six months ended 31 December 2016

8 FEBRUARY 2017

A FLIWAY PRESENTATION

IMPORTANT NOTICE

This presentation supplements our half year financial statements to 31 December 2016 and should be read subject to and in conjunction with the financial statements. That material is available via the Investors section on our website,www.fliway.com. All references to currency are to New Zealand dollars unless otherwise stated.

This presentation contains forward-looking statements and projections. These reflect our current expectations based on what we think are reasonable assumptions but for any number of reasons these assumptions may prove incorrect. We give no warranty or representation as to our future financial performance or any future matter. Except as required by law or NZX listing rules, we are not obliged to update this presentation after its release, even if things change materially.

Some of the financial information in this presentation has not been prepared in accordance with generally accepted accounting practice ("GAAP"). In particular, we show Pro Forma results and EBITDA. If needed, investors should get advice on how our non-GAAP information relates to our GAAP results.

This presentation is for information purposes only. It is not an offer of securities, or a proposal or invitation to make any such offer. It is not investment advice or a securities recommendation, and does not take into account any person's individual circumstances or objectives. Every investor should make an independent assessment of Fliway on the basis of expert financial advice.

Distribution of this presentation (including electronically) may be restricted by law. You should observe all such restrictions which may apply in your jurisdiction. To the maximum extent permitted by law, we will not be liable, whether in tort (including negligence) or otherwise, to you or any other person in relation to this presentation, including any error in it.

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1H17 INTERIM RESULTS // FEBRUARY 2017

A FLIWAY PRESENTATION

AGENDA

1. 1H17 Overview

2. Financial

3. Capital Management

4. Operational Performance

5. Strategy and Outlook

6. Conclusion

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1H17 INTERIM RESULTS // FEBRUARY 2017

A FLIWAY PRESENTATION

1. OVERVIEW 1H17 OVERVIEW - BUSINESS DEVELOPMENT SUCCESS

   • Stronger performance from Business Development in both divisions delivered a strong revenue finish to the first half of FY17

   • Gained additional work from the UPS relationship

   • Group results impacted by:

     • Customer loss announced June 2016

     • Capacity constraints in Transport and following the Kaikoura earthquake

     • Demand exceeding network capacity in Transport

   • Lowered the cost base in the UPS-Fliway joint venture, through reduced rates from Fliway and lower compensation from UPS to provide a more competitive offering and facilitate higher growth

   • Interim dividend of 2.0 cents per share, based on earnings per share of 4.8 cents

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1H17 INTERIM RESULTS // FEBRUARY 2017