Ngi Te Rangi Settlement Trust Financial Highlights For

Ngāi Te Rangi Settlement Trust Financial Highlights For the year ended 30 June 2018

Contents 1. Group Structure 2. Highlights 3. Performance Summary 4. Revenue 5. Expenses 6. Assets 7. Investments 8. Equity/Net Assets 9. Looking Forward Te Runanga o Ngāi Te Rangi Iwi Trust Group Financial Highlights AGM 2018 2

Group Structure Majority consistent hapū/governance/senior management Ngāi Te Rangi Iwi Settlement Trust Te Rūnanga o Ngāi Te Rangi Iwi Trust 100% 33% 100% Ngāi Te Rangi Fisheries AHC Limited Ngāi Te Rangi Hi Ika Limited Tauranga Moana Iwi Collective Leasing Company Ngāi Te Rangi Investments LP 16. 7% Mataatua Fishing Quota ACE Holdings Limited 7. 64% Iwi Collective Partnership – Koura Facilities Tauranga Moana Iwi Collective LP Key – Outline recorded within Group figures given full ownership Outline recorded as investments given low proportionate ownership Te Runanga o Ngāi Te Rangi Iwi Trust Group Financial Highlights AGM 2018 3

Highlights 1 2 3 4 Equity Increase in net assets/equity of $0. 7 m. Assets Increase in assets of $5. 6 m 92 Second Ave Purchase of commercial property to diversify our asset mix and mitigate risk Net Income Increase in net income (NST/NST LP) of $160 k Te Runanga o Ngāi Te Rangi Iwi Trust Group Financial Highlights AGM 2018 4

Performance Overall Group Performance 4 000 3 500 000 3 000 2 500 000 2 000 1 500 000 1 000 500 000 - Revenue Expenses Net Operating Surplus 2018 Summary Revenue Expenses Net Operating Surplus Gain/(Loss) from Investments Total Net Income Te Runanga o Ngāi Te Rangi Iwi Trust Group NST 859, 355 781, 239 78, 117 646, 140 724, 256 NST LP 170, 726 134, 467 36, 258 Gain/(Loss) from Investments Total Net Income 2017 Total 993, 823 915, 706 78, 117 646, 140 724, 257 Increase/Decrease 149, 927 301, 644 151, 717 311, 533 159, 816 Group 2018 3, 686, 317 2, 998, 981 687, 336 962, 643 1, 649, 979 Group 2017 3, 537, 313 3, 222, 407 329, 090 672, 597 1, 001, 686 Movement 149, 004 223, 426 358, 246 290, 046 648, 292 Financial Highlights AGM 2018 5

Revenue NST and NST LP Revenue 2017 2018 - 200 000 400 000 600 000 800 000 1 0001 200 0001 400 0001 600 0001 800 000 Dividends and Realised Gains Interest Received Other Income Gain/(Loss) from Investments Rental Income Summary Koha and Grants Received Contract Revenue Dividends and Realised Gains Fisheries Income Interest Received Other Income Rental Income Total Operating Income Gain/(Loss) from Investments Total Income Te Runanga o Ngāi Te Rangi Iwi Trust Group NST 168, 959 650, 181 40, 214 859, 355 646, 140 1, 505, 495 NST LP 170, 726 Total Increase/Decrease 168, 959 105, 477 650, 181 129, 875 3, 957 3, 599 170, 726 993, 823 149, 927 646, 140 311, 533 1, 639, 963 461, 460 Group 2018 33, 744 1, 575, 826 429, 733 414, 513 690, 167 361, 615 180, 720 3, 686, 317 962, 643 4, 648, 960 Group 2017 75, 643 1, 637, 611 426, 166 437, 445 809, 891 150, 558 3, 537, 313 672, 597 4, 209, 909 Movement 41, 899 61, 786 3, 568 22, 932 119, 724 211, 057 180, 720 149, 004 290, 046 439, 050 - Financial Highlights AGM 2018 6

Expenses NST & NST LP Expenses Wages and Salaries Income Summary Wages and Salaries Grants, Donations and Sponsorship Operating Costs Strategy and Implementation Depreciation Income Tax Total Operating Expenses Distributions to Marae Total Costs Te Runanga o Ngāi Te Rangi Iwi Trust Group NST 295, 879 198, 051 257, 614 4, 832 24, 863 781, 239 Operating Costs NST LP 69, 102 65, 365 134, 467 Strategy and Implementation Total 295, 879 267, 154 257, 614 70, 197 24, 863 915, 706 Increase/Decrease 93, 821 132, 907 123, 367 63, 230 111, 681 301, 644 Depreciation Group 2018 1, 704, 126 52, 232 966, 251 138, 614 112, 895 24, 863 2, 998, 981 140, 205 3, 139, 186 Group 2017 1, 653, 280 58, 526 1, 274, 991 56, 622 42, 443 136, 544 3, 222, 407 114, 279 3, 336, 686 - Movement 50, 846 6, 294 308, 740 81, 992 70, 452 111, 681 223, 426 25, 926 197, 500 Financial Highlights AGM 2018 7

Balance Sheet NST & NST LP Balance Sheet 40 000 50 45 40 35 30 25 20 15 10 5 35 000 30 000 25 000 20 000 15 000 10 000 5 000 - Overall Group Balance Sheet Assets Liabilities 2018 Balance Sheet Assets Liabilities Net Assets / Equity Te Runanga o Ngāi Te Rangi Iwi Trust Group 000 000 000 Net Assets / Equity 000 000 000 - Assets 2017 NST 28, 792, 989 626, 801 28, 166, 188 Liabilities 2018 NST LP 9, 838, 244 4, 897, 261 4, 940, 984 Total 33, 690, 249 5, 524, 062 28, 166, 188 Increase/Decrease 5, 651, 621 4, 949, 944 701, 677 Net Assets / Equity 2017 Group 2018 46, 332, 995 5, 689, 066 40, 643, 929 Group 2017 40, 091, 682 934, 947 39, 156, 735 Movement 6, 241, 313 4, 754, 119 1, 487, 194 Financial Highlights AGM 2018 8

Assets NST & NST LP Asset Mix 2017 2018 - 5 000 Summary of Assets Cash and Short Term Investments Receivables Taxes Receivable Property, Plant and Equipment Investment Property Investments Fisheries Quota Other Assets TOTAL ASSETS Te Runanga o Ngāi Te Rangi Iwi Trust Group 10 000 15 000 20 000 25 000 30 000 35 000 40 000 Cash and Short Term Investments Receivables Taxes Receivable Property, Plant and Equipment Investment Property Investments NST 13, 175, 499 3, 066 170, 012 6, 151 15, 423, 619 14, 641 28, 792, 989 NST LP 90, 594 8, 289 9, 739, 361 9, 838, 244 Total 13, 266, 094 11, 356 170, 012 6, 151 9, 739, 361 10, 482, 636 14, 641 33, 690, 249 Increase/Decrease 7, 779, 074 13, 891 146, 608 2, 855 9, 739, 361 3, 562, 646 1, 173 5, 651, 621 Group 2018 14, 437, 686 483, 237 316, 623 476, 926 9, 739, 361 16, 607, 053 4, 233, 514 38, 595 46, 332, 995 Group 2017 21, 932, 065 415, 444 68, 424 423, 852 12, 983, 084 4, 233, 514 35, 299 40, 091, 682 Movement 7, 494, 379 67, 793 248, 199 53, 074 9, 739, 361 3, 623, 969 3, 296 6, 241, 313 Financial Highlights AGM 2018 9

Looking Forward • Continue to assert mana whenua • Continue to diversify our asset mix to ensure long term risk mitigation • Pursue long term investments that adhere to Ngāi te Rangi beliefs Te Runanga o Ngāi Te Rangi Iwi Trust Group Financial Highlights AGM 2018 10