Annual Report 2021 | 2022 - Te Kāhui o Taranaki Trust

Our Whenu

Whenu are woven strands that provide strength and structure, we have used five whenu that capture our uri aspirations.

Taranakitanga

Taiao Whiria te muka

The muka strands are strong woven together.

‘Te more i Hāwaiki, te tupu rau matomato’

- the tap root of Hāwaiki, the promise of new growth.

Strategic Goal

To strengthen our Taranaki iwi cultural identity and bring us together as whānau.

Uwhia te huhi

Speaks to the importance of water and our wetlands that give us life and sustain our environment and biodiversity.

‘He whakaipurangi mounga, he puna e kore e mimiti’

- a lofty mountain source is a perpetual spring.

Strategic Goal

To protect the wellbeing of our taiao, our mounga, awa, moana and whenua.

Whanake mai ai

Puia ki te hauangi

Speaks to the distribution of seeds and favourable conditions for growth and development.

‘He pua whakakōkō, he kōrari whakahorapa’

- an inviting flower, a prosperous seed.

Strategic Goal

To support our whānau, marae pā, hapū and uri to reach their potential.

Our Values

Kia rongomau

To act with humility, respect and empathy

Kia manawanui

To be courageous & determined

Kia aroha ki te tangata That we care for and manaaki our people and environment

Kia tika, kia pono

Contents

Mihi Whakawai 02

Chair Report 04

Chief Executive Report 06

Taketake Tangata

To act with honesty and integrity Takea ki te pūtake

Our mounga provides the foundation of authority to stand and represent.

‘He taketake mounga, he taketake tangata’

- bedrock supports the highest summit, the basis for our success.

Strategic Goal

To ensure and enable the voice of influence and advocacy for Taranaki iwi and our marae pā, hapū and uri.

Kawe Whakahaere

Rurungia ki te pā whakaruru

Providing shelter from the elements for protection and growth.

‘He ruru tūpuhi, he ruru kōpaka’ - sanctuary from the storms, protection from the cold.

Strategic Goal

Board of Trustees 08 Operations 09

Taranakitanga 10 Taiao 18

Whanake mai ai 26 Taketake Tangata 34 Kawe Whakahaere 40 Taranaki Iwi Holdings Limited Partnership 49

Minutes of Te Kāhui o Taranaki Trust Board 57 Taranaki Iwi Rohe 70

Financials 71

Financial Performance 72

Independent Auditors Report 73

Consolidated Financial Statements 75

Organisational Structure 101

01 Providing the shelter and environment to protect and grow the capacity and capability to implement our iwi aspirations.

Cover image: Tania Niwa Mounga Taranaki, Pouakai, and Kaitake. Subtly featuring is the Waiweranui awa.  Scenic photo captured at dusk on New Year’s Day 2022

Mihi Whakawai

E kore hoki e taea he mate nō te iwi kotahi

Tukua atu tama kia puta i tua o te tāwhangawhanga

He putanga ariki nō rangi, nō rongo ki te ata tauira

Ko te mate o te Kāhui Tupua me hā rātou uri kia ea, kia hoki ki te ora Whiti, whano haere mai te toki Haumie hui e, taiki e.

Whakarongo e te rau o Taranaki, e te nui o Taranaki i te ahunga mai o te kōrero, te kōrero whakatupua, te kōrero whakatāwhito nō runga ana mai o Rua Taranaki e tū nei. Koia ko Rua te kōrero, ko Rua te wānanga, ko Rua te puna i heke mai ai te tāngata ki te whai ao ki te ao mārama!

Kei ngā uri o te Kāhui o Rua Taranaki, tēnā koutou, tēnā tātou i te āhuatanga o hō tātou mate tuatinitini, tuamanomano o te tau kua pahemo ake nei. Huihuia mai hō tātou mate kia tangi tahi tātou.

Nō reira, haehaea te pō kia takiri mai ko te ao, kia tau mai te māramatanga o te rā ki runga i a tātou me ngā kōrero o hō tātou tūpuna i te pō.

Nā hō tātou tūpuna i tuku i hō rātou kaha me tō rātou reo, hei reo whakahaere mō tātou hā rātou uri whakatupu, hei tangata whakaaraara mō ngā iwi e rua o te motu nei. Koia nei te kōrero, “e kore tōu reo e taea te pēhi e ngā mounga nunui o tēnei whakatupuranga. E kore tōu māngai e taea te kōpani e ngā mounga nunui, e ngā pukepuke o te motu nei, whakapikia koe te ara o Tāwhaki, hei ara mōu; kia herea iho koe te kaha o Rongomai. Māu e whakarongo ngā manu noho awa, tangi tīkapa ana ki ngā tai weherua, ko toku rite ia, era-a!”

Nō reira, kia manawanui rā tātou e te iwi!

me tōngai harakeke

Our collective Taranaki Iwi strength is like the harakeke weave resilient, versatile and dynamic inspiring success and intergenerational growth.

Te Kāhui kaimahi Planting Day – Cape Road, Warea Papakāinga

Cape Egmont | Whanganui Boat Ramp with Putatuapo in the background

Chair Report

Jacqui King

As chair of Te Kāhui o Taranaki Board of Trustees, it is an honour to present the Annual Report for the financial year ending 30 June 2022.

It has been only a few short years since we finalised our five-year plan and strategic objectives, embodied in five whenu. It is both pleasing and exciting to report on advances we have made in delivering the aspirations put before us by uri of Taranaki Iwi.

Taranakitanga

Whiria te muka

This is an opportune time to acknowledge and welcome the hundreds of uri who are newly registered as Taranaki Iwi. Over the past 12 to 18 months, Te Kāhui o Taranaki has made it a priority focus to connect with uri in all corners of Aotearoa, and indeed the world, through a range of whānau-focused initiatives. This major drive has resulted in significant numbers of new registrations –from 6000 to 7,206 in just 18 months.

This massive upswing of newly registered uri has not happened by accident: it is the uplifting result of seeing out a strategy set in 2020, following an extended period of consultation with whānau, hapū, marae pā and uri, to discover what priorities Te Kāhui o Taranaki should pursue.

Taranakitanga – reconnecting uri to who they are, strengthening their ties to Taranaki and their kin – was at the top of the list for everyone. The significant efforts and multi-faceted approach of our operations team must be acknowledged in celebrating such momentous results.

Taiao

Uwhia te huhi

The main focus under this whenu has been empowering our whānau to actively demonstrate kaitiakitanga through practices not seen in decades in the realm of Te Taiao. We are proud of our Toa Taiao leading the way in protecting the wellbeing of our taiao, our mounga, awa, moana and whenua. The opportunity to leverage government funding through Jobs For Nature has enabled us to grow and develop our Taiao team.

This is an area in which Taranaki Iwi has demonstrated vision and commitment, deciding several years ago to support environmental warriors appointed by each of our marae pā. They are our active monitors – walking the awa, walking the whenua, walking the takutai: our eyes, ears and hands on the ground.

It was imperative for our Toa Taiao to be linked to our marae pā. We were asked to make that happen, and so we did. We also wanted to make sure that those active environmental roles amongst our whānau and whenua are from our whānau and whenua. Hence, marae pā are involved in appointment processes and in making decisions about the work our Toa Taiao and Jobs For Nature teams do. They focus on the areas our marae pā need them to focus on. Taranaki Iwi uri have made it clear that our Taiao is an important obligation that must be supported and resourced. How we go about sustaining roles into the future, such as those under the three-year Jobs For Nature programme, is an important matter for the Board of Trustees to consider.

Two historic events in the year past have enabled hapū and whānau to demonstrate their kaitiakitanga. The hauhake of Te Karu o Kōteoteo was a realisation of the support that Taranaki Iwi and especially our Toa Taiao can offer to manawhenua doing the hard yards of kaitiakitanga on home ground. It was a privilege to work in partnership with our whanaunga and whānau whānui during such a momentous undertaking.

Soon after, in November, three pilot whales washed up near Pūniho Pā. Manawhenua had a team in place quickly, and managed to refloat and save one of tūpuna tohorā.

These two events were particularly significant because of the restoration of cultural practice – relinking with and re-learning Taranakitanga as part of our connection with Te Taiao, efforts that may not have been well supported in the past due to lack of resource or ringawera.

Whanake mai ai

Puia ki te hauangi

Our strategic goal to support our whānau, marae pā, hapū and uri to reach their potential brought focus to two key areas in the past year. The first is Ka Uruora, a joint iwi initiative to support whānau to financial independence and intergenerational wealth through savings and housing initiatives.

Taranaki Iwi have been fortunate to have the first houses approved for the shared equity home ownership programme, thanks to our ability to secure Deferred Settlement Properties through our Treaty Settlement, and we could not be prouder to have our first whānau either in their own home or on a pathway to home ownership through the Ka Uruora initiative. Two major developments under the programme are planned in Ōkato and Ōpunakē. There is more about this mahi later in this report.

The second key focus for the year has been operational support for marae pā, hapū and the whānau who keep the home fires burning. An initial $100,000 distribution was made following Treaty Settlement to each marae pā, with further annual distributions set at $50,000. I am extremely pleased to announce an increase in these distributions in the new financial year to $60,000 annually for each marae pā. This has been made possible by the sterling financial performance of our Holdings entity.

In addition, each marae pā will receive $15,000 annually as a specific contribution to marae pā administration. This sum recognises the administration workload encumbent on our marae pā in such areas as compliance, funding applications and support to maintain the associated entities and committees.

We also maintain our direct distribution to uri of up to $100 per year through the Ka Uruora savings programme, as detailed elsewhere in this publication, and our educational grants.

The increase in the number and total value of distributions to uri accessing our education grants has been particularly pleasing in the past financial year.

Taketake Tangata Takea ki te pūtake

It has been a busy year of advocacy and support to enable the voice and influence of Taranaki Iwi, marae pā, hapū and uri.

The introduction of Māori wards to our local authorities was an achievement that required active support in local communities and in council chambers, and at national level through the Iwi Chairs Forum. Taranaki Iwi advocated strongly for the establishment of Māori wards for Taranaki Regional Council and the New Plymouth, South Taranaki and Stratford district councils.

Taranaki Iwi has also advocated at local and national level through a range of representative roles on a wide range of matters, including Three Waters, resource management, the local government review, the Civil Defence response to Covid-19, the national health reforms and the creation of the Māori Health Authority.

Although Te Kāhui o Taranaki does not provide health services, our obligation to whānau requires that we are active in influencing and advocating on health matters where we can. This includes our membership to the representative collective from all eight iwi in Taranaki which advised the former Taranaki DHB as its Māori health

governance group Te Whare Pūnanga Kōrero, a collective now transitioning under the Māori Health Authority to become the Ngā Iwi o Taranaki Hauora Partnership Board.

Kawe Whakahaere Rurungia ki te pā whakaruru

Providing the environment to protect what we have, and to develop and grow, is the focus of this strategic whenu.

At the beginning of the year, Leanne Horo stepped down as Chair of our Board of Trustees and I stepped into the role. On behalf of the Board, I would like to acknowledge Leanne’s dedication and leadership through the establishment phases of our post settlement governance entity. We are fortunate to retain Leanne’s wisdom and institutional knowledge at the Board table where she remains a Trustee.

I am also pleased to report a strong financial performance for the past year. A net surplus after tax of $7.7m (FY21 $13.7m) has been posted for the year. This is made up of $3.7m (FY21 $68k) in cash operating profit, and $4m (FY21 $13.7m) in non-cash capital gains. Total Equity is $124m (FY21 $116m), an increase of $7.7m or 7% on the previous year.

As mentioned, we have maintained and grown our distributions and activities to support uri, including increasing annual marae pā distributions to $75,000 from the new financial year, benefits to uri through the Ka Uruora savings programme, delivering educational grants and maintaining Toa Taiao initiatives.

Conclusion

I wish to end by acknowledging our Board for their leadership and strategic direction throughout the year. It is a privilege to serve alongside them to guide a talented kaimahi whānau, led by our Chief Executive Wharehoka Wano.  They have worked tirelessly throughout a challenging pandemic period.  Their commitment to making a difference in the lives of whānau has seen them continually adjust, adapt and revise activities to ensure delivery of our strategic whenu - while maintaining a connection with our uri.  Indeed, this has been demonstrated by all our Iwi members throughout the year as seen by the uplift in participation across registrations, programmes and services.

We are entering a period of challenging economic times as inflationary and global impacts hit to create pressure on the cost of living for our whānau.  It is in this environment that we must deliver the next phase of the strategy our Iwi have set down for us.  It will require careful planning and prioritisation with a focus on developing more social investment initiatives.  Our focus will see us weave a way forward that ensures progress for the future, while also supporting those struggling today with the rising costs of living. These imperatives are all achievable provided we continue to remain connected to our hapū, marae pā and to each other - our Iwi.

For the year in review, at a time when connection became the most challenging to achieve, I am very proud that our whānau connected as Taranaki Iwi at levels and ways never before seen.  It is this resilience, this versatility as a people that creates a dynamic and inspiring Iwi who are focused on a successful tomorrow - Me Tōngai Harakeke e te whānau.”

Chief Executive Report

Wharehoka Wano

As Chief Executive of Te Kāhui o Taranaki, it is my pleasure to present the Annual Report for the financial year from 1 July 2021 to 30 June 2022.

Despite the ongoing constraints and restrictions resulting from the Covid-19 pandemic, it is pleasing indeed to report on the work we have done to advance the vision put forward by uri in the five-year plan set in 2020.

Connected

The five whenu (strands) of our strategic vision have prioritised our operational efforts.

Taranakitanga – Whiria Te Muka brought focus to the goal to strengthen cultural identity and connection to Taranaki Iwi. Our drive for the year has been to actively engage with uri, hapū and marae pā, providing support that brings our wider iwi together as whānau and creating a sense of belonging – no matter where in the world our people may be. For many, there is a need to reconnect with Taranaki whakapapa, mātauranga, stories and reo.

We overcame the Covid-19 impediment to meeting kanohi-ki-tekanohi by hosting a series of virtual (online) Paepae Wānanga aimed at growing cultural capability amongst our people. As a first step, these have provided a solid foundation for the plan to lift the number of culturally capable uri who have the knowledge and confidence to fill important roles on our marae pā. The Paepae Wānanga have also provided greater access to tribal mātauranga and increased opportunity to connect with home.

Our Uri Wānanga across the main centres of the motu were also a key activity during the year. A new initiative focusing on whanaungatanga, they were enormously successful, resulting in the setting up of whanaungatanga ohu, including virtual platforms, in each of the centres visited to maintain and strengthen the new connections formed by uri in the regions in which they live. Ohu have been established in Dunedin, Christchurch, Wellington, Palmerston North, Hamilton and Auckland. The wānanga were held at indoor children’s facilities where tamariki could play while mātua and kaumātua were able to meet informally.

These wānanga series have generated increased engagement with Te Kāhui o Taranaki and Taranaki Iwi, including active participation in virtual wānanga as participants’ knowledge and confidence grows across a range of kaupapa. As restrictions ease across the country and circumstances allow, we are looking forward to reinstating kanohi-ki-te-kanohi opportunities.

Acknowledgements

I want to acknowledge our kaimahi whānau, who, despite the ongoing challenges of such uncertain times, have remained committed to driving the Taranaki Iwi vision. In particular, my appreciation and thanks for the solid support of my high-calibre senior management team, including Pou Kōkiri/ Operations Manager Mark Wīpātene, Kaiwhakahono-ā-iwi/ Engagement and Communications Manager Raymond Tuuta, Office Administrator Marama Witehira and finance team Tania Stokes and Tina Taiaroa.

Their efforts over the past year in steering multiple and varied kaupapa have set the highest benchmarks in the interests of marae pā, hapū, whānau and uri. You will read about some of these initiatives in the pages that follow.

Our Toa Taiao continue to lead the way in caring for our whenua, arawai and takutai moana. Led by our Kaitiaki Whenua, Ngahina (Wayne) Capper, the team’s involvement in the hauhake of Te Karu o Kōteoteo must be acknowledged. The hauhake was a oncein-a-generation event that reinstated significant and valuable mātauranga and brought our iwi, hapū and marae pā together in an unprecedented way.

Ngahina is currently on sabbatical leave to pursue his reo and complete his Masters degree in indigenous leadership, and Todd Rangi has stepped in to lead the Taiao team in his absence.

We have been fortunate to have the opportunity to establish a Jobs for Nature/Mahi Mō Te Taiao team, led by Shane Wallacehoskin and including Tuhi-Ao Bailey, Ed Korau, Arianna Capper and our first environmental cadet Fatiauma Moeahu-Leota. The team’s focus includes developing a nursery at Pungarehu and replanting the whenua.

I also acknowledge the mahi of Fran Davey in representing Taranaki Iwi interests in the critical decommissioning of the Tui Oil Field as it heads into its final phase; Rawinia Leatherby-Toia, who has been leading out some of our special projects, including the extremely popular kai resilience programme Tātai Tāngata ki te Whenua; and our environmental planner Maria Hokopaura, who came to us for a short time out of South Taranaki District Council. Angie Walters’ input across a range of projects is also acknowledged

Finally in this section, I thank our Board of Trustees for their continued support and guidance in setting our course, and ngā uri o Taranaki Iwi for the strength of vision and aspirations that drive our efforts.

Financial Highlights

The organisation has delivered a net surplus of $7.7m (FY21 $13.7m) after tax. Finance income for the year was $5.9m, an increase of $4.1m on the previous year as a result of operating profit distributions from Direct Iwi Co-investments, and a distribution of $2.5m from Taranaki Māori Trust Board.

There was an increase in Operating Revenue of $500k from the previous year due to funding received for Jobs for Nature, and Tui Decommissioning projects.

Carefully considered operational expenditure resulted in an increase of only $370k in total expenses from the previous year.

Overall the financial position of the Group is sound with net assets of $124m (FY21 $116m), an increase of $7.7m on the previous year.

Milestones

During the year in review, Te Kāhui o Taranaki marked a number of milestones.

In August, Vicky and Dean Wall became the first Taranaki Iwi whānau to buy a home under the Ka Uruora shared equity home ownership plan. The joint iwi housing security, savings and financial independence initiative holds unlimited promise for whānau and there are exciting developments ahead for Taranaki Iwi in this space. More on this mahi later in this Annual Report.

A Whare Taiao has been set up in Pungarehu following the purchase of the former RD1 building. This establishes a versatile base for our Toa Taiao in the heart of our rohe and signals the importance of this work.

As we work to re-establish our footprint in our rohe, a series of engagement wānanga were held on Taranaki Iwi Rautaki Tiaki Whenua, the Reserves Management Plan for the control and development of reserves held under the Taranaki Iwi Claims Settlement Act 2016. The aim of these wānanga were to introduce our whānau back to their own whenua.

Challenges And Opportunities

It goes without saying that the biggest challenge for all of us over the past couple of years and throughout the financial year just ended has been the global pandemic. The lockdown in August 2021 had a significant impact on the last quarter and indeed the early part of 2022.

Kanohi-ki-te-kanohi hui with whānau were curtailed and most engagement, including last year’s Annual General Meeting, was virtual. We are fortunate indeed to have these virtual platforms to keep whānau informed and connected with the multiple streams of mahi being undertaken on behalf of Taranaki Iwi despite these difficult times.

Through this period, the support of the Ngā Iwi o Taranaki shared service team, Te Aranga, must be acknowledged. They led the charge with our vaccination clinics, working alongside our Māori health provider Tui Ora, and then rolled into distributing Rapid Antigen Tests (RATs) and other forms of support for our vulnerable families. The collecting and sharing of data and communications was another important part of this shared service work.

The Year Ahead

Te Kāhui o Taranaki looks forward to another busy and varied year progressing the work Taranaki Iwi have charged us with. Three priority areas of operations in the year ahead are the development of our housing programme, building further on our highly successful wānanga series and continuing to find ways to reach out to our whānau, wherever they may be.

Board of Trustees

Daniel Harrison Trustee

Aroaro Tamati Deputy Chair

Leanne Horo Trustee

Dennis Ngawhare Trustee

Jacqui King Chair

Jamie Tuuta Trustee

Sharlene Maoate-Davis Trustee

Absent: Tihikura Hohaia, Rihimona Ratahi, Edward Korau, Fatiauma Moeahu-Leota, Casio Austin, Ngahina Capper.

Left to right (Back): Todd Rangi, Wharehoka Wano, Raymond Tuuta, Taipuni Ruakere, Mark Wipatene, Shane Wallacehoskin.

Left to Right (Front): Maria Hokopaura, Tuhi-Ao Bailey, Angie Walters, Tania Stokes, Rawinia Leatherby-Toia, Fran Davey, Ruby Hutchieson, Tina Taiaroa, Marama Witehira, Ariana Capper.

Wharehoka Wano, Tu Maatauranga (Behr) Wallacehoskin: Te Kāhui kaimahi Planting Day – Cape Road, Warea Papakāinga

Whiria te muka

“Strenthening our Taranaki Iwi cultural identity by bringing us together as whānau.”

Top and right images: Virtual Paepae Wānanga participants 2022

Weaving together the strands of identity and knowledge

Identity, connection, skills and knowledge – uri of Taranaki Iwi have been flocking to Paepae Wānanga to build cultural strength and contribute to the ceremonial functions of their seven marae.

Despite the disruptions of the pandemic, wānanga to lift the number of those able to take on the responsibilities of Taranaki Iwi paepae continue to be a drawcard for those who want to reconnect and strengthen their understanding of Taranakitanga.

Kanohi-ki-te-kanohi wānanga have not been possible for twoand-a-half years, but have continued online, with a dedicated 50 to 60 attendees at each of the six most recent virtual wānanga. Te Kāhui o Taranaki are looking forward to bringing uri home for kanohi-ki-te-kanohi wānanga in the coming year.

Te Kāhui o Taranaki Tumu Whakarito Wharehoka Wano says he’s heartened by the numbers and the ongoing opportunity

to build Taranakitanga to support the obligations and functions of the seven marae.

“Just to fulfil the full range of ceremonial functions, from tangihanga to openings to pōwhiri … there are always things going on, and, like many marae around the motu, we find ourselves under pressure with only a small pool of people currently able to fulfill those responsibilities.”

The Paepae Wānanga hone in on the mātauranga of Taranaki Iwi and Kurahaupō waka.

“We are fortunate to have access to a lot of writings from tūpuna of the 1800s, so we have a good body of kōrero that is very much our kōrero, including specific kīwaha, karakia and waiata,” Wharehoka says.

“Taranakitanga is the big picture. As well as covering protocol and kawa, our Paepae Wānanga focus on supporting uri to stand and deliver karanga, mihimihi, karakia, waiata.

“The responsibility is not only to deliver the functions of ceremony, but also to weave people together through that ceremony, to facilitate kaupapa and whakahaere tikanga as kaikōkiri. These functions are all vital and central to our Taranaki Iwi identity.”

Another key initiative under the Whiria te Muka aspiration to strengthen cultural identity and bring Taranaki Iwi together is Tātai Tāngata ki te Whenua.

The kai resilience programme shares tūpuna kōrero around growing kai, including the maramataka, kaitiakitanga of Papatūānuku, seed sovereignty and activating sustainable living practices.

Te Kāhui o Taranaki launched the free, six-month online programme last October to help reconnect whānau with Taranakitanga and provide the means to improve health and wellbeing by growing affordable and nutritious kai.

“We launched during the moon phase Māwharu,” says Pou Rautaki Rawinia Leatherby-Toia. “We were hoping for 40 participants. We got 80, including two families in New South Wales and Western Australia.

“Whānau were provided with raised gardens, soil, tools, seedlings and seeds, and the maara team at Parihaka pā provided a

pouch of Parihaka soil for each whānau to mix into their whenua.”

Tātai Tāngata ki te Whenua is delivered by maara expert Pounamu Skelton through fortnightly online hui, with uri building whanaungatanga and sharing experiences via social media.

The 80 participants grew kai for households of up to seven people and shared produce with whānau, friends and neighbours.

“They were saving $50-$60 a week by growing their own vegetables. We have had some beautiful stories about what growing kai has done for uri, including healing and addressing historical trauma. The feeling being shared is one of pride in being Taranaki Iwi, knowing our history, practising our mātauranga and re-indigenising our spaces,” Rawinia says.

The second intake of Tātai Tāngata ki te Whenua gets underway later this year. Eighty places are available.

Photo credit: Te Kāhui o Taranaki

Nicholas Coutts – Participant: Tātai Tāngata ki te Whenua

Te Herenga Waka

The relationship between Te Kāhui o Taranaki and Te Herenga Waka (Victoria University of Wellington) took Taranaki Iwi to the capital for a Tū Mai Taranaki event in July, hosted as part of Taihonoa, the university’s Māori strategic partnership programme.

The event was an opportunity for Te Kāhui o Taranaki to identify and connect with Taranaki tauira and strengthen the partnership with Te Herenga Waka.

Xtreme Hip Hop

Step and dance fitness classes based on hip-hop will be expanded to keep up with growing interest. Te Kāhui o Taranaki secured an Xtreme Hip Hop licence in response to a survey in 2020 that called for fitness and wellbeing initiatives. Sport Taranaki funded equipment, put two instructors through certification, and classes have been delivered face-to-face and online since September. More instructors will be trained to deliver more classes, including outdoor sessions as the weather gets warmer.

Ngā Kanohi o Taranaki

A series of digital features has been launched to share stories of inspiration about Taranaki Iwi uri. The series of interviews by Te Kāhui o Taranaki Kaiwhakahono-ā-Iwi Raymond Tuuta focuses on uniting, uplifting and connecting whānau through sharing experiences. The first six episodes have been posted on the Te Kāhui o Taranaki Facebook page and can also be accessed through the Te Kāhui o Taranaki YouTube channel.

Tiripoua

Tiripoua is the celebration that marks the Taranaki Iwi settlement in February each year. Postponed in 2022 to May because of the pandemic, the celebration took on the theme of Taiao Taiora, with a programme of three kaupapa: Tātai Tāngata ki te Whenua, Te Karu o Kōteoteo and Taranaki Iwi Rautaki Tiaki Whenua, the Reserves Management Plan (RMP). Interviews with Pounamu Skelton and Ngahina (Wayne) Capper were presented, focusing on the wellbeing outcomes of each kaupapa.

Other Facebook Pages

Taranaki Iwi ki Te Upoko o Te Ika a Māui (Wellington) 136

Taranaki Iwi ki Ōtepoti (Dunedin) 37

Taranaki Iwi ki Ōtautahi (Christchurch) 23

Taranaki Iwi ki Tāmaki Makaurau (Auckland) 59

Taranaki Iwi ki Kirikiriroa (Hamilton) 11

Taranaki Iwi ki Papaioea (Palmerston North) 40

Tātai Tangata ki te Whenua 102

Te Kāhui Taiohi o Taranaki Iwi 211

Te Moungaroa – Taranaki Iwi Kapa Haka 51

Instagram total page followers

Engagement

Te Upoko o Te Ika

Ōtepoti (Dunedin)

Māui (Wellington)

Ōtautahi (Christchurch)

Tāmaki Makaurau (Auckland)

Kirikiriroa (Hamilton)

Papaioea (Palmerston North)

Total

Feedback – Uri Engagement

Kāhui

Virtual (via Zoom) events

Hui-a-Iwi (Sept) 2021

Tiripoua 2022

Hui-a-Tau (AGM) Dec 2021 102

Hui-ā-Iwi (June) 2022

COVID

August, September and October: phone calls to uri: 758

Merchandise

Wānanga Engagement (via Zoom)

October to March: Support Vaccination drive and RATs Clinics

Merchandise was at several events throughout the year and it was a highlight to engage with Taranaki Iwi uri at these events as well as through social media and the online store.

Events with merchandise present: All Uri Engagement (kanohi-ki-te-kanohi) events

Top selling products for 2022

Taiao

Uwhia te huhi

“Protecting the wellbeing of our taiao, our mounga, awa, moana and whenua.”

Photo credits: Tania Niwa

Te Karu o Kōteoteo laying onshore (just south of Kōteoteo Stream, Te Umuroa)

Mounga Taranaki taken at Te Umuroa

Tipua from the deep brings tūpuna knowledge to hapū

A tohorā that washed ashore at Ōpua, just north of Ōpunakē, was a gift that returned tūpuna knowledge, forged new connections and strengthened hapūtanga.

“The legacy of our tipua will continue through our whakapapa and some special things will come from this for our mokopuna,” says Ngahina (Wayne) Capper, Kaitiaki Whenua for Te Kāhui o Taranaki.

“People will sing about it, there will be waiata, haka and ngeri – she brought teachings, learnings and growth to our whānau and hapū.”

He said the arrival in October of the deceased 24-metre blue whale in the rohe of Taranaki Iwi hapū Ngāti Kahumate, Ngāti Tara, Ngāti Tamarongo and Haumia set off a powerful chain of events.

Named Te Karu o Kōteoteo, the Eye of Kōteoteo, the young adult tohorā was sighted by whānau and tracked along the coastline by Te Kāhui o Taranaki Toa Taiao until she came to shore just south of Kōteoteo Stream, not far from Te Umuroa Pā.

Hapū leaders were contacted, and shortly afterward calls were made to hapū of Ngāruahine (Ngāti Haua, Ngāti Tū), Te Atiawa (Otaraua) and Te Tai Tokerau (Ngātiwai), who have recent mātauranga around tohorā.

“They immediately travelled to us, gave kōrero about the process, and stayed throughout the whole kaupapa to awhi and support. The mātauranga shared was huge.”

Under their guidance, a hapū hui made the momentous decision to undertake a tohorā hauhake – the first in the rohe in living memory.

The process began with karakia at sunrise on 20 October, with more than 50 people working each day for over a week on the hauhake, which included rendering the hinu and preparing the bones for burial on the headland at Ōpua.

“It was an unforgettable experience and uptake of knowledge for whānau, hapū and the community, including kura and schools, tamariki and rangatahi,” Ngahina said.

“We had lost that knowledge. Relearning the process was tino rangatiratanga and mana motuhake through action – one of the highlights of my life.

“In the past it’s often been left to the Department of Conservation to deal with. For our whānau to have the opportunity to do this with the benefit of such support was huge.

“It was mahi tahi, the most natural process and probably the closest thing I’ve ever experienced to how our tūpuna once lived and worked together. You could feel our tūpuna with us at every step.

“Now we have the mātauranga within our own whānau,

Photo credit: Stuff Limited

Te Whakamaharatanga Okeroa and Jacqui King

including the next generation, to awhi and manaaki others when the need arises.”

Every part of Te Karu o Kōteoteo, except the flesh, will eventually be used. The hinu was rendered in big pots for rongoā; sinew, tendons and baleen will be used in mahi toi and for kākahu kapa haka; and the bones will be brought up in two or

three years. Hapū will continue to hui to discuss these steps.

“It’s a life kaupapa,” Ngahina says. “There will be a continuation of kōrero. What Te Karu o Kōteoteo did was reconnect hapū in an area where multiple hapū were once active. She reunited whānau and reignited kōrero about their hapū. It is awesome to hear some of these old hapū being talked about again.”

Rāhui to protect kaimoana

Hapū of Taranaki Iwi are waiting to hear if their rāhui on kaimoana gathering will be supported by a two-year legal ban under the Fisheries Act.

The hapū of Ōrimupiko Pā laid the rāhui in January to protect shellfish, including pāua, kina and kōura, and other kaimoana depleted to critical levels by unsustainable harvesting practices.

The hapū raised the alarm after seeing busloads and carloads of visitors – up to 75 cars in a single day –plundering the kaimoana beds.

Hapū elder Fran Davey moved the motion for the rāhui at a hui in Oaonui. She said more hapū of Taranaki had since joined and more than 70km of coastline was now under rāhui from Rawa o Turi in the south to Paritutu in the north.

“The rāhui has spread along the coast and down to ngā hapū o Ngāruahine,” Fran said. “The purpose is to preserve, protect and restore the kaimoana resource in a collaborative way.”

Unethical harvesting practices by visitors had been evident for several years but hapū had to take action after seeing 75 cars on Arawhata Road and the evidence of “undersized, any sized” pāua being taken from severely depleted beds.

“The kaumātua of Taranaki iwi believe a traditional rāhui is the best method of providing time for the pāua and other taonga species being overfished to regenerate,” Fran said.

On behalf of the combined hapū, kaumātua Te Whakamaharatanga Okeroa and Te Kāhui o Taranaki chair Jacqui King have applied to the Oceans and Fisheries Minister for a temporary closure to match the rāhui. The application includes all shellfish and reef life such as octopus and anemone.

“The addition of a section 186a Temporary Closure will give legal effect to the customary rāhui and strengthen the potential for our kai taonga to regenerate to levels of sustainability for the benefit of future generations,” Fran said.

Hapū throughout the Taranaki takiwā will work to establish long-term mātaitai protection plans along the coast, with each marae pā enacting kaitiaki roles, she said.

Photo credit: Te Kāhui o Taranaki

View of Coastline taken at Ōpunakē Northern Headlands Carpark

Pungarehu nursery

Te Kāhui o Taranaki is ready to develop plans for a native plants nursery at Pungarehu under the Jobs for Nature programme. The nursery will grow plants suitable for and specific to coastal eco-systems and conditions, enabling the maara and taiao teams to eco-source natives for Taranaki Iwi whenua and whānau. Te Kāhui

o Taranaki has secured three years of Government funding for Jobs for Nature projects.

Reserves Management Plan wānanga

Four aspirational wānanga were held in 2021 to provide whānau with information about Taranaki Iwi Rautaki Tiaki Whenua, the Reserves Management Plan for the control and development of reserves held under the Taranaki Iwi Claims Settlement Act 2016. The whenua includes 15 reserves under the Reserves Act, and 14 freehold land parcels managed by Te Kāhui o Taranaki on behalf of Taranaki Iwi. More than 90 uri attended the wānanga to reconnect with the history and significance of each site and share aspirations for the land. A workplan is being developed to incorporate the shared vision.

New Taiao Staff

Tipunakore Rangiwai

Mawene Bidois

Maria Hokopaura Shane Wallacehoskin

Volunteer Rāhui Monitors

Planting

Mar 2022

Apr 2022 May 2022 Jun 2022

Patrolled from Rāhuitoitoi

in

north

24 Kaimahi Ariana Capper Ed Korau Tuhi-Ao Bailey Faitauma Moeahu-Leota

Gis Monitoring

The Taiao team has integrated numerous Geographic Information System (GIS) tools to capture the health and well-being of our taiao. These include ArcGIS Online, ArcGIS Pro, field data applications, and drones to capture images of our rivers and coastline. For example, our team has walked a number of streams logging our observations using Quick Capture (please see below image)

GIS is a powerful tool for visualising our rohe and will play a significant role in bringing about the much-needed changes to environmental policy to protect and restore the mauri of our taiao.

The following GIS graphics are examples of the types of monitoring undertaken on a regular basis showing current data capturing workflow for river monitoring from September 2021 - July 2022.

Map of Taranaki Iwi Awa Monitoring Sites

This map shows the location of 36 awa monitoring sites.

Awa Temperature Chart

Temperature results for Pūniho/Oakura rohe

Awa Monitoring Dashboard

This dashboard shows total monitoring events, location of monitoring sites, and sediment graph

River Mouth Temperatures 2021-22

Water Clarity Chart

results for Pūniho/Oakura rohe

Taiao

Herekawe Tapuae Oakura

Wairau

Whenuariki Timaru Pitone

Kaitikara Maitahi Kaihihi Matanehunehu Waiweranui

Piriniki Signer: Te Kāhui kaimahi Planting Day – Cape Road, Warea Papakāinga

Puia ki te hauangi

“Supporting our whānau, marae pā, hapū and uri to reach their potential.”

From left: Awatea Bailey, Fatiauma Moeahu-Leota, Patricia O’Carroll-Leota, Dinnie Moeahu, Te Kauwhata Moeahu-Leota (pēpi), Kelly Moeahu

Hands-on experience for first two cadets

Te Kāhui o Taranaki has employed its first two cadets, in two very different areas of operations.

Fatiauma Moeahu-Leota, 19, is the first Taranaki Iwi kaitiaki ranger cadet, and Casio Austin, 24, is on board as a digital communications cadet.

Short-term internships in the past have provided taiohi with short periods of work experience but the new cadetships are long-term investments.

Kaiwhakahono ā-iwi Raymond Tuuta says Te Kāhui o Taranaki has ambitions to develop its cadet programme.

“It’s about succession, growth and development – actively supporting our uri to reach their full potential and giving the next generation onthe-job experience. Expanding the programme in other areas would be ideal, to show taiohi that the iwi

space is wide-ranging and one they can contribute to.”

“In my day, you didn’t aspire to one day work for your iwi as a graphic designer or a kaitiaki whenua. But in this day and age, our taiohi have vastly wider opportunities to be involved and that’s the exciting thing about it – giving these younger ones hands-on experience in the Taranaki Iwi space and an opportunity to be part of our future.”

Casio is a graduate of the Te Kāhui o Taranaki collaboration with information technology training provider Learner Me. Graphic design and web development work was part of her six-month training, which focused on creating a website for Taranaki Iwi. Recognising the value of having that capability in-house, the digital communications cadetship was created.

Casio says the cadetship with Taranaki Iwi is an “awesome opportunity”.

“When I was first introduced to digital design through the training opportunity with Taranaki Iwi, I was so disconnected from my iwi. Coming back and working with my iwi made me feel

From left: Nicola Kiely, Rupuha Albert-Dunn, Nickie Meinen, Thomas Austin, Casio Austin, Wharehoka Wano, Angie Walters, Marama Witehira, Rawinia Leatherby-Toia

how much I was missing out on.”

“Working with people, giving back, following this new passion I’ve found in graphic design, and doing that with my iwi, in my community, is just awesome.”

As for Fatiauma, after stints at the meatworks and as a labourer, his cadetship in environmental management is living the dream.

“Most days, I’m outside all day. I’m just working for my people and where I come from. I do a lot of trapping, maintenance, water testing and planting around Pungarehu and Oakura, around our pā, down the streams, on our land, helping the environment.”

Fatiauma says before taking up the cadetship, working alongside kaitiaki whenua Todd Rangi, he didn’t know a lot about his dad’s Taranaki Iwi side.

“I wanted to jump in and learn more. This job makes me feel closer to my Taranaki Iwi side. It makes me feel like I’m coming home.”

Shane Wallacehoskin, programme co-ordinator for He Taiao, He Taiora, He Tai Tāngata, says the cadetship comes via Taranaki Iwi’s three-year Jobs for Nature programme, which includes pest and weed control, planting (natives and riparian) and maintaining 29 historical pā and cultural sites.

“Part of his role is to cover 88ha per quarter every year,” Shane says. “It’s a big job, it’s a wicked job – and he’s doing really well.”

Photo credit: Te Kāhui o Taranaki

Awatea Bailey, Fatiauma Moeahu-Leota and their pēpi, Te Kauwhata Moeahu-Leota

Learner Me

A website design and rebuild for Taranaki Iwi is one of the benefits of a free tech programme for taiohi aged between 15-24 years. Three teams of up to 15 taiohi will study digital tech and creative media through Learner Me in the Hangarau Akoranga programme, working on real-world projects for Taranaki iwi. The first cohort has graduated, with one accepting a Te Kāhui o Taranaki cadetship, three taking jobs with Learner Me, and the rest going on to further study. The second cohort will graduate in November.

Ōpunakē High School ranger cadets

He Taiao, He Taiora, He Tai Tāngata programme coordinator Shane Wallacehoskin is working with Ōpunakē High School on a year-long ranger cadet programme. The initiative is set to be launched next year and could eventually be offered at other schools. It will deliver NCEA credits and introduce taiohi to environmental work and kaitiakitanga as part of mātauranga Māori education for Taranaki Iwi. A feasibility study is also under way for an initiative with tertiary institutes to offer a fulltime 10-week Level 2 and 3 course with industry-specific micro-credentials for skills such as pest and weed control, planting and fencing, and an emphasis on mātauranga Māori and te reo.

List of recipients

Applicant Name Type

Ahie, Cole Secondary

Archibald, Renee Tertiary Aue, Teina Tertiary

Awhitu, Karlos Secondary Baldwin, Renee Tertiary Barrett-Alesana, Te Piripoho Secondary Batson, Jayda Secondary Beale, Mia Secondary Bell, Ethan Secondary Bell, Owen Secondary Blackburn, Ariria Secondary Blackburn, Gina Tertiary Bloor, Kaiah Tertiary Bouzaid, Mason Tertiary Broad, Taylor Tertiary Broadmore, Charlie Secondary Broadmore, William Secondary Butcher, Tahi Secondary Callahan, Rayden Secondary Cant, Mia Secondary Capper, Tiana Secondary Capper, Wayne Tertiary Chase-Ropiha, Hinekorangi Secondary Chase-Ropiha, Ngarangi Secondary Clarke, Tainui Secondary Coffey, Reuben Tertiary Cook, Ella Tertiary Cook, Korrey Tertiary

Education Grants

Education

Awarded

Education Grants

136 Secondary School $210

102 Tertiary $570

2 Vocational Training $1,000 each

Undergraduate,

Honours

Study

Study

Education Grants Distribution overview $88,700 in Donovan, Rhys Tertiary Doyle, Metiria-Hinekorangi Tertiary Doyle, Raukura Tertiary Edwards, Aria Secondary Edwards, Josiah Secondary Edwards, Thomas Tertiary Edwards, Tracy Tertiary Edwardson, Zahria Secondary Eiffe, Teao Tertiary Elkington, Kelsea Tertiary Ewington, Phoebe Secondary Fitisemanu, Candace Tertiary Flanagan, William Tertiary Fleming, Kayleigh Secondary Foster, Teresa Tertiary Foster, Tyrone Tertiary Gallagher, Nicole Tertiary Gardiner, Anaye Secondary Gardiner, Ariah Tertiary Glassie, Tatyana Tertiary Godfrey, Noah Secondary Gower, Adriena Secondary Gower, Michael Tertiary Graham, Jonty Secondary Grant, Georgia Tertiary Greenaway, River Secondary Hall, Matilda Secondary Harper, Milan Secondary Harrison, Aiyana Willow Secondary Harrison, Angela Secondary Harrison, Heniherewaka Secondary Harrison, Katie Tertiary

MOST POPULAR study subjects

Study

Medicine | Sciences | Law | Te Reo Māori | Māori Indigenous Studies

32 Total Distribution $546,281.40 URI PACKS Pāhake Kura Waenga Kura Tuatahi Pēpi 53 53 29 43 $4,629.10 $3,965.46 $2,169.78 $6,963.37 KA URUORA WhānauSaver Contributions $10,156.10 EDUCATION GRANTS Grants paid 240 $88,700.00 TANGIHANGA Pātaka Whata (ika) 14 MARAE/PĀ Tīkaokao Marae/Pā Xero support 7 2 $7,655.19 $420,000.00 $2,042.40 Healey, Sharlyn Tertiary Hema, Keisha Secondary Hema, Tasheena Tertiary Hetet, Miriama Tertiary Hewson Baldwin, Jackson Secondary Hine, Shanaye Secondary Hockley, Pikihuia Secondary Hockley, Russell Secondary Hohaia, Belle Secondary Hohaia, Wyatt Secondary Hohaia-Mcleod, Rahuia Tertiary Hohaia-Osborne, Kylie Tertiary Hosking, Joshua Tertiary Hughes, Kaelah Secondary Hughes, Kavelle Secondary Hunapo, Taonga Secondary Hurley, April Secondary Ison, Karolin Secondary James, Matthew Tertiary Johns-King, Terence Secondary Johnson, Harvey Secondary Kahui Grosvenor, Kaila Tertiary Kahui-Riddler, Zariah Secondary Kake, Quintin Secondary Karaitiana, Horomatangi Secondary Karaitiana, Parearau I te Po Secondary Kemp, Lena Tertiary Kerr, Alisha Tertiary King, Asha Secondary King, Maia Tertiary King, Martin Tertiary King, Narlisa Secondary

King, Reef Secondary King, Renata Secondary Knight, Isabel Tertiary Koha, Lenard Tertiary Koha, Peter Vocational Komene, William Tertiary Lepou, Micah Tertiary Lichtwark, Rory Secondary Lichtwark, Tereina Tertiary Lind, Tainui Secondary Lind, Te Moko Secondary Looney, Payton Secondary Love, Luka Tertiary Luke-Taamaru, Janine Tertiary Mahutonga, Paul Tertiary Maki-Tuara, Mangaia Secondary Mana, Sahara Secondary Manu, Jahmaeys Tertiary Manuel, Rongomai Secondary Manukonga, Bailee Tertiary Manukonga, Kim Tertiary Maraki, Maruera Tertiary Mason, Rikiana Secondary Mathieson-Julian, Taihua Secondary Mathieson-Julian, Te Waikaukau Secondary Mathieson-Julian, Wiremu Secondary Matuku, Ethan Tertiary McHardy, Amy Secondary McHardy, Gus Secondary McHardy, Kate Secondary McIntyre, Lewes Tertiary Mcminn, Cjay Secondary Millar, Joseph Secondary Modlik, Jonelle Tertiary Moeahu, Dinnie Tertiary Moeahu, Jaxon Secondary Moeahu, Mason Secondary Moffitt, Leigha Secondary Mulligan, Kahu Tertiary Muru-King, Rhys Tertiary Nair, Jaia Secondary Nair, Kyan Secondary Ngaia, Haelyn Secondary Ngaia, Kahana Tertiary Ngaia, Kodee Secondary Ngarangi, Tiki Secondary Ngaropo, Sheldon Secondary Ngohe, Manaaki Secondary Ngohe, Rawinia Tertiary Nicholas, Taukiri Secondary Osborne, Roka Tertiary Owen, Caius Secondary

Owen, Tiaan Tertiary Parata, Ngapera Tertiary Petersen, Jessica Tertiary Potaka, Te Ariki Secondary Prestney, Keanu Secondary Rangi, Nikkholas Secondary Rangi, Oracle Secondary Rangi, Tiara Secondary Rata, Colin Tertiary Ratahi, Alex Tertiary Ratahi, Hoani Secondary Ratahi-Smith, Cassidy Secondary Ratahi-Smith, Tannah Secondary Raven, Asha Secondary Raven, Mena Secondary Reid, Halle Tertiary Reinfelds, Marnie Tertiary Richmond, Ema-Kahurangi Secondary Ritai, Huria Tertiary Ritai, Ngatupara Tertiary Rona, Sarika Tertiary Rongomai, Ngamotu Secondary Ropiha, Rameka Secondary Ross, Iesha Secondary Ruakere, Jody Secondary Ruakere, Ruby Tertiary Ruakere, Te Para Secondary Samoa, Te Amorangi Secondary Sands, Jordi Secondary Seymour, Keita Secondary Smith, Harlow Secondary Spice, Cooper Secondary Stanyon, James Secondary Stanyon, Whakairitaua Tertiary Sullivan, Quinessa Tertiary Sullivan, Te Rau o te Huia Secondary Sutherland, Marley Secondary Taamaru, Tiare Tertiary Taankink, Jasmine Tertiary Taiwhati, Deejae Tertiary Takarangi, Daniel Tertiary Tamatea, Jahrese Secondary Tamatea, Jerome Secondary Tamati, Arleigh Secondary Tamati, Zion Secondary Tamehana, Trinity-Rose Secondary Tamehana, Wakaia Tertiary Tarlton, Hannah Tertiary Tarlton, Ivan Tertiary Taueki-Stott, Merania Tertiary Tawhi-Amopiu, Qwahnell Secondary Taylor, Annalise Tertiary

Taylor, Dana Tertiary

Taylor, Ryan Secondary

Te Ahu, Kauri Tertiary

Te Rata Owen, Tama-nui Secondary

Te Rata-Owen, Marino Tertiary

Te Rata-Owen, Piata Tertiary

Te Rei Tuta, Tamaarangi Tertiary

Te Tai, Te Aumangea Secondary

Te Wiki, Jade Secondary

Te Wiki, Tial Secondary Tewake, Kaia Secondary Tito, Cayden-James Secondary Tovio-Ratahi, Nathaniel Secondary Tuivaiti, Elaijah Tertiary Tuuta, Matiu Tertiary Vaimoso, Farrayne Secondary WaereaHohaia, Rongomaihenga Tertiary Waiwiri, Phoenix Secondary Walden, Joshua Tertiary Wall, Elijah Secondary Wallace, Kianu Secondary Wallace, Nika Tertiary Wallacehoskin, Charley Secondary Wallacehoskin, Symonn Secondary Walters, Kellie Tertiary Wano, Awanuiarangi Tertiary Wano, Tunui Tertiary Ware, Ella-Jess Tertiary Ware, Ian Vocational Watson, Morgana Tertiary West, Kendal Secondary Weston-Jacobson, Letisha-Rei Secondary Weston-Jaconson, Pikiteora Secondary Williams, Crystal Tertiary Williams, Lyric Secondary Wilson, Kiri Tertiary Wilson, Pakiarohirohi Secondary Wilson, Sequoia Secondary Wilson, Tamarereti Secondary Wilson, Zinzan Secondary Wipatene, Ella Tertiary Witika, Tatiana Tertiary Wright, Harmony Secondary Wylde, Milly Secondary

Internships

Shaye Witehira, Rongomaihenga Waerea-Hohaia, Tia Moore, Rhys Young and Ruby Hutchieson

Lynley Johnson, Te Whakamaharatanga Okeroa, Fran Davey, Taipuni Ruakere, Mark Wipatene: Te Kāhui kaimahi Planting Day – Cape Road, Warea Papakāinga

ki

pūtake

“Ensure and enable the voice of influence and advocacy for Taranaki iwi and our marae pā, hapū and uri.”

From left: Fran Davey (Engagement Lead), Geoff Otene, Patricia Rangi, Moewai Terry, Glenn Peri, Tokatūmoana Walden, Te Uraura Nganeko, Rū Terry, Jesse Hona.

Tui Decommissioning (Kaitiaki Ohu)

Tui Decommissioning - The signing of the Agreement with the Ministry of Business, Innovation and Employment (MBIE) at Te Kāhui o Taranaki Iwi Office, 1 Young Street, New Plymouth.

Tui Oil Field clean-up passes half-way mark

The country’s first offshore oil field decommissioning is more than midway through under a partnership between Te Kāhui o Taranaki and the Government.

The Ministry of Business Innovation and Employment (MBIE) is decommissioning the Tui field 50km offshore from Oaonui, north of Ōpunakē, after permit operator Tamarind Taranaki was placed in receivership and liquidation. It had been in production since 2007.

Te Kāhui o Taranaki is working on the decommissioning as a Treaty partner to ensure underwater infrastructure is safely removed.

Hapū representatives from Ngāti Kahumate, Ngāti Tara, Ngāti Haupoto and Ngāti Tuhekerangi have formed a kaitiaki team for the project. The team comprises Fran Davey, Geoff Otene, Patricia Rangi, Moewai Terry, Glenn Peri, Tokatūmoana Walden, Te Uraura Nganeko, Rū Terry and Jesse Hona.

Phase 1 of the job – demobilising the production and storage vessel Umuroa and securing the subsea assets – has been completed. Phase 2 to remove 4000 tonnes of infrastructure from the sea floor has almost ended, and the final phase –plugging and abandoning the wells – will begin in the summer.

Engagement lead Fran Davey says hapū are involved in the project to exercise kaitiakitanga responsibilities.

“We are working alongside MBIE to ensure that the cultural impact assessment is implemented, that we are reported to about any finds, activities, spills, etc, and that we put our mātauranga lens and kaitiaki perspective over everything.

“When the oil fields were commissioned, we weren’t at the table – but we’re there now as the guardians, the kaitiaki, the people who live here.

“Let’s hope that in this next exploration of wind-powered offshore energy we are sitting at the table.”

Taketake Tangata

Environmental Planning:

A critical space for Māori

Environmental planner Maria Hokopaura says Te Taiao is an exciting, challenging space – but more kaimahi are needed.

“There’s just so much going on in the environmental space. With an estimated 12,000 roles from planners to planters needing to be filled, there’s huge need in just the iwi Māori space alone.

“We need to be encouraging our people into this mahi. There’s huge opportunity and need for more kaimahi to support iwi and hapū in this space.”

Maria (Ngāti Ruanui, Ngaa Rauru, Pakakohi) worked in environmental planning at Te Kāhui o Taranaki and before that at South Taranaki District Council. She says the role is broad, involving engaging with iwi, hapū and whānau, councils and resource consent applicants, Government departments, multi-national corporations, network utility operators and petroleum companies.

“With all the reforms it’s quite an active space and will only become busier.

“A lot of the hard work has been done for decades by hapū and whānau – unpaid – because of the relationship they hold with the whenua.

“I see the job as providing support for those people, our mana whenua who hold the cultural expertise, to make sure that the systems used to manage the environment and natural resources are designed to work for tangata whenua.”

Maria is now working for Ngā Iwi o Taranaki in a joint role focusing on freshwater policy and based at Te Kotahitanga o Te Atiawa office.

Photo credit: Te Kāhui o Taranaki

Whakatau at Whakaahurangi Marae for new Pou Taiao/Policy Advisors: Maria Hokopaura (centre, front, left) and Kasey Bellamy (centre, front, right)

Representation

Local | Regional | National

Te Huinga Taumatua (NPDC Iwi Liaison Committee)

Taranaki Iwi RepresentativeJacqui King

Te Kāhui Matauraura (STDC Iwi Liaison Committee)

Taranaki Iwi RepresentativeLeanne Horo & John Niwa

Huinga Iwi (STDC Operations Iwi Liaison Hui)

Taranaki Iwi RepresentativeMark Wipatene & Maria Hokopaura

Ngā Kaitiaki (STDC Plan review Kaitiaki Group)

Taranaki Iwi RepresentativeJohn Niwa & Mark Wipatene

•

•

•

•

Taranaki Regional Council (TRC Policy & Planning Committee)

Peter Moeahu

Taranaki Regional Council (Consents & Regulatory Committee)

Tuhi-Ao Bailey

Ngā Iwi o Taranaki (NIOT) Chairs Forum

Jacqui King & Wharehoka Wano

Te Whare Punanga Kōrero (TWPK) Now known as: Ngā Iwi o Taranaki Hauora Partnership Board (NIOTHPB)

Leanne Horo

National Iwi Chairs Forum (NICF)

Jacqui King & Wharehoka Wano

•

•

•

•

•

60

Consents (directly notified by Councils due to Statutory Acknowledgements)

50

Engagement with applicants/developers pre-application

New Plymouth District Council (NPDC) Proposed Plan Hearings

pieces of expert planning evidence

Protection Agency (EEZ Act)

multi-day hearings

18 expert planning conferencing and Joint Witness Statement

Local Govt engagement

• STDC Road Naming Policy Advisory Group

• STDC Huinga-a-iwi

• NPDC Stormwater Catchment Management Planning

• NPDC He Puna Wai

Te Kāhui o Taranaki related responses and activities

• Taranaki Mounga – Seabird relocation

• Ōkato School development

• Waka Kotahi

• OMV

DOC concessions 20 Environmental • MBIE – Block offer process

39 • Kordia

• Greymouth Petroleum

Taketake Tangata

Tuhi-Ao Bailey (left) with her tamariki Hoengārangi Signer (centre) and Piriniki Signer (right) at the Teikapaarua awa - Te Kāhui kaimahi Planting Day

Rurungia ki te pā whakaruru

“Providing the shelter and environment to protect and grow the capacity and capability to implement our iwi aspirations.”

Whakahaere

Vicki & Dean Wall and their mokopuna outside their whare in Ōpunakē

Three-step plan targets financial and housing security

Te Kāhui o Taranaki has helped the first Taranaki Iwi whānau into their own home under the joint iwi housing initiative Ka Uruora.

The initiative was set up in partnership with Te Kotahitanga o Te Atiawa to boost whānau access to affordable housing, home ownership and financial independence.

Ka Uruora delivers three opportunities to support uri:

• Savings: WhānauSaver, a savings programme in which iwi contribute dollar-for-dollar savings up to $100 per year.

• Education: An eight-week financial literacy programme, covering budgeting, mortgages and saving.

• Home ownership: A shared equity home ownership model in which Ka Uruora shoulders some of the purchase cost until whānau can afford to take full ownership.

Te Kāhui o Taranaki Pou Kōkiri Mark Wīpatene says WhānauSaver offers significant benefits for uri of Taranaki Iwi, Te Atiawa and other iwi partners.

“Taranaki Iwi and Te Atiawa each contribute up to $100 per year, so

The savings go into a conservative Superlife investment fund to provide opportunity for further gain on investment.

“The key aim is to build a long-term savings foundation for whānau,” Mark says.

“Over time, a dollar or two a week will turn into a considerable nest egg for tamariki or mokopuna, setting them up for tertiary education, first home ownership or retirement – a potential base for intergenerational security.”

As of June, 214 Taranaki Iwi members have opened WhānauSaver accounts (99 of these in the previous 12 months), with total savings of $76,600. Te Kāhui o Taranaki has contributed $9,400 in iwi contribution in the past 12 months and $14,400 since WhānauSaver began.

if you’re a registered member of both iwi you can get up to $200 contribution a year,” Mark says. “With many having whakapapa to multiple iwi, as more iwi join there will be opportunity for substantial dollar-for-dollar match.”

Vicki & Dean Wall and whānau after the blessing of their whare in Ōpunakē

The next step in the Ka Uruora programme is financial education.

“There’s a lot of skills to gain through the financial literacy programme, which whānau can use in real life in day-to-day budgeting and finance matters.”

Last August, after completing the required financial literacy programme, Vicky and Dean Wall in Ōpunakē became the first whānau to buy a home under the Ka Uruora shared home ownership plan.

“It’s a game-changer. Inequity in housing is around the intergenerational ability to own homes. Often Māori haven’t had the ability to leverage off their whenua and that’s put us at a disadvantage in terms of intergenerational wealth development. For whānau, to be able to grow some equity and an asset base will make a real difference.”

Photo credit: Ka Uruora

From left: Hon Peeni Henare, Phil Nixon (Mayor-STDC), Maria Ramsay (Toi Foundation) and whānau during the blessing in Ōpunakē

Vicki & Dean Wall receiving taonga

Renovations and new builds

Te Kāhui o Taranaki has more plans in the pipeline to address housing need over the next 12 months.

Through its Treaty settlement, Taranaki Iwi purchased six Ministry of Education properties in Ōpunakē under the deferred selection property (DSP) mechanism.

Four houses in Ōpunakē have been renovated to at least healthy homes standard and have gone into the Ka Uruora shared home ownership programme. The Wall whānau moved into the first home last year, two whānau are expected to move into their new homes in the next few months, and the fourth home remains available under the shared equity scheme.

Te Kāhui o Taranaki Pou Kōkiri Mark Wīpatene says a further two DSP properties providing a mix of shared home ownership and affordable, healthy rental homes have been purchased and renovated in Ōkato, with two whānau going through the Ka Uruora programme and hoping to be in their new homes soon.

Planning will also begin to build 18 to 25 houses on the former Ōkato Primary School site.

“They will be a mixture of shared equity, kaumātua and affordable rental homes. One of the drivers is bringing whānau home to reconnect to their whenua.”

Te Whare Taiao

Te Kāhui o Taranaki has purchased the former RD1 building in Pungarehu to establish a satellite office and base for the Taiao team. There are plans for the building to be redeveloped to provide meeting facilities and support services for uri.

Mounga Taranaki, Pouakai, and Kaitake. Subtly featuring is the Waiweranui awa.  Scenic photo captured at dusk on New Year’s Day 2022

Taranaki Iwi

Te Kāhui kaimahi Planting Day – Cape Road, Warea Papakāinga

Chair Report

FY22 Highlights

•

•

Andy Knight

Tēnā koutou katoa, me pēnei te kōrero haere ngā mihi, haere ngā mate, haere whakamua to tātou iwi o Taranaki.

Taranaki Iwi Holdings LP (‘Holdings’) is the commercial arm of Te Kāhui. We are led by a separate board and take responsibility for delivering Te Kāhui the financial resources it needs to support the wider goals of Taranaki Iwi.

Our focus is sustainable growth and we have now been delivering this since our formation in FY16.

Strong performance from property related assets such as Hāpai and Tai-Hekenga

First year in new Pūainuku iwi collective for agricultural investment and it has delivered very strong returns, especially from well-timed dairy investment

• Recovery in our Australasian infrastructure investment with an over 10% return

• Continued successful marae-pa investment programme

• Continued Ka Uruora home delivery programme with first house delivered to uri

• Cash flow positive at Ngāmotu hotel despite significant Covid impacts

• Major disruption in listed markets leading to devaluations dragging on overall returns this year

• Profit of $355k at Taranaki Iwi Fisheries Limited (comanaged with Holdings), pre-tax

• Overall total return of 6.45% on book value of equity across both Taranaki Iwi commercial entities

• Over the last five years we have returned 8.4% p.a.

Our Vision

We are guided by Te Kāhui’s vision and values:

• Me Tōngai Harakeke

• Kia rongomou, Kia manawanui, Kia aroha ki te tangata, Kia tika, kia pono

Our purpose is:

• to be an outstanding investment company for Taranaki Iwi and a respected economic leader in the Taranaki region.

We apply the Te Kāhui o Taranaki whenu to our commercial activity:

Whenu Strategic Goals

Taranakitanga

To strengthen our Taranaki iwi cultural identity and bring us together as whānau

TIHLP Goals

• Enhanced identity and pride through visible iwi commercial success

• Taranaki Iwi narrative included within commercial ventures where feasible

• Rebuild Taranaki Iwi’s economic role in its rohe

Taiao

To protect the wellbeing of our taiao, our mounga, awa, moana and whenua

• Leading environmental, health & safety practices

• Industry sector leadership

• Marae / Hapū and iwi members have greater connection to the commercial investments

Whanake mai ai

To support our whānau, marae pā, hapū and uri to reach their potential

• Growth that more than maintains the real value (inflation and population) of pūtea

• Supporting Te Kāhui group on collaborative initiatives that deliver to whānau and hapū

• Successful co-investment with other aligned Iwi and Māori entities

To ensure and enable the voice of influence and advocacy for Taranaki iwi and our marae pā, hapū and uri

• Contribution to the growth of and providing opportunity to Taranaki Iwi, Māori and Taranaki economies

• Leading industry sector risk-adjusted returns

• Best practice governance practice and commercial decision making

Providing the shelter and environment to protect and grow the capacity and capability to implement our iwi aspirations

• Strong progress towards target asset allocation and direct investment plan

• Out-perform return and distribution targets

• Resilient in maintaining distributions through downturns

• Value add and cost-efficient management

• Partnering with aligned and best in class industry operators to build long-term capacity

Our Investment Strategy And Approach

We want to build a portfolio that can deliver reliable income and sustainable growth.

We have certain advantages such as our ownership by mana whenua, our long-term investment horizon, our people and relationships and our ability to manage volatility at the portfolio level.

We use these advantages in the construction of our portfolio and hence focus on illiquid, direct assets and working in strong investment collectives that focus on industries where we see long term opportunity.

Translating all of this into investment goals we want to build a portfolio of reasonable scale, high-quality direct assets that we hold for the long term.

Our Portfolio

By year end we had a total commercial pūtea (including TIFL quota at market value) of $122m. This is spread over a diversified range of sectors, as illustrated on the following page (Note: colours, green to red, represent broad risk categories).

Taketake Tangata

Kawa Whakahaere

Total Commercial Pūtea

Impact Investment 3%

Private Equity 4%

Te Pūia Tāpapa 5%

Seafod Operations 2%

Hotel 4%

Diversified Agri 7%

Growth Funds 16%

Seafood Quota 5%

BTR Housing 2%

Cash <1% Income Funds 11% Infrastructure 8%

Commercial Property 13%

Crown Leasebacks 20%

This represents significant development from six years ago, immediately post-settlement, when our portfolio was wholly cash.

We cover major activity across the portfolio, below.

Local And Impact Investment

We have around $11m invested in the rohe, or just under 10% of the total portfolio.

Our main local impact assets are our stake in the Novotel Ngāmotu Taranaki hotel and our various settlement property acquisitions including our work on delivering affordable housing via Ka Uruora.

Our local investment will increase substantially over the coming 2 – 3 years as we undertake more local housing projects and acquire further properties for Te Kāhui usage.

Despite this the hotel achieved a cash surplus of over $500k. This was about half budget however was a significant achievement in the circumstances and much better than many other hotels, other than those used for state funded isolation.

We are expecting a return to more normal conditions in FY23.

There is ongoing work to train staff and inject stronger cultural guidelines into operations.

Other local and impact investment

Novotel Ngāmotu Taranaki

The Novotel Ngāmotu Taranaki was acquired by Holdings in a consortium with Te Atiawa and PKW in January 2019. The period from early 2020 to the end of FY22 has been impacted by Covid with occupancy down for the year to c 54%.

In addition to Ngāmotu, investment in the rohe includes:

• The housing refurbishment pipeline for Ka Uruora and uri. The initial tranche covered six houses. These are almost complete but there are several more projects soon to get underway

52 We are always on the look-out for local investment that meet our portfolio benchmarks for returns and risk.

•

Rural properties at Cape Rd

• Our leaseback properties to the Crown

• Our stake via our infrastructure investment fund investment which in turn is an owner of PowerCo

• Some of our inshore quota holdings

• Other properties being acquired for use by Te Kāhui including their new office at Pungarehu

Investment Activity

The Hāpai whānau of property investments

‘Hāpai’ is a whānau of linked iwi-controlled vehicles developed to focus on three distinct types of investable property: commercial, residential and development.

While these are common investment classes in New Zealand, access channels remain limited with either concentrated single asset, expensive syndicates or low-control listed entities the most common ways of building exposure. Hāpai seeks to overcome these issues by combining iwi investment to build efficient scale.

• Hāpai Commercial Property LP owns six high quality investment property assets in Tauranga, the Hawke’s Bay, Christchurch, Dunedin and Auckland

• We have a total investment of $14.7m at end FY22, and this has returned us income of 6.1% and a total return of 25.8% in FY22. At an operational level, Hāpai Commercial continued its expansion of a facility for an existing tenant in the Hawke’s Bay and also undertook significant prep work for a new development for long term pre-lease in Dunedin

• Hāpai Housing develops and operates purpose built residential properties including conventional rental as well as retirement living. Housing is an essential service that delivers returns diversified from commercial property. Hāpai Housing has two projects underway, both in Tāmaki Makaurau. We initially committed $5m to this investment and have increased to $7.5m. This will start delivering income in the coming year (FY23). In addition, in FY22, Hāpai Housing took a stake in a retirement home development manager, including rights to invest in the physical developments. We expect Hāpai Housing to take advantage of this in the coming years. Whānau living in areas where Hāpai Housing develops houses to be delivered by Ka Uruora as affordable rentals and shared-equity will get priority access before they go to the open market

• Hāpai Development is the final member of the whanau. It develops commercial and industrial property, taking on more speculative risk than Hāpai Commercial. We committed $5m. The first project is an industrial facility, under development in Christchurch.

Holdings was one of the first investors into Hāpai and appoints a director to the single board that oversees all three vehicles: this is part of the Hāpai philosophy – creating efficient but flexible structures and access. The other investors are all iwi and include many of our wider Taranaki whanau.

There are now 19 investors across the Hāpai whānau and it is a great example of collective iwi success.

Pūainuku agribusiness investment

Agribusiness is a strategic investment focus area for us, given the long-term advantages New Zealand has in certain types of agricultural production.

As with property investment, there are limited, cost-efficient scale access options. At the same time, concentrated climate and other risks in agriculture support a diversified approach.

Pūainuku was hence developed to answer these issues: creating an iwi collective to make scale investments across key agribusiness areas.

• Pūainuku Pastures was formed in May 2021 and took a 13% stake in Dairy Holdings Limited (‘DHL’), New Zealand’s largest dairy farmer. We committed $4.2m to this vehicle and it has made an operating return of 19.6% and a total return of 35.7% in FY22. The investment was very opportunely timed for us, with inflation driving commodity prices higher. We don’t expect to generate such returns in the future.

• Pūainuku Vines was formed in early FY22 to focus on hops and viticulture. It completed an investment in c 66ha of high-quality vineyard land near Blenheim. This is on long term lease to Giesen’s winemakers, with options to buy into the business in the future if so desired. We committed $3m and the asset has delivered annualised operating returns of 6.5% and a total return of 42% over the year. As with Pastures, we do not consider such high returns to be sustainable as they reflect uplifts in property value that are unlikely to continue while interest rates are rising.

• Pūai Tangaroa was formed to invest in high value seafood quota. It began with the acquisition of a small parcel of koura in mid-2021 and since April 2022 this has been generating income. It is expected to deliver an operating return of 4.3% over the current fishing year

Also, through the year Pūainuku looked in detail at a new investment in horticulture. This remains a focus area for the collective but the initial investment was not able to be concluded.

Tai-Hekenga Crown property

Tai-Hekenga is a consortium of Taranaki Whānui linked iwi that has collectively purchased a large portfolio of Crown leaseback land in Wellington including schools, justice properties and specialist properties used by the Department of Internal Affairs. The assets are land only. The improvements, and hence the bulk of the seismic risk, remains with the Crown.

This gives an unusual but highly secure income stream with strong asset backing in the unlikely event of sovereign default or other vacancy.

Last two years there have been major valuation uplifts and this year there have been further gains. We invested $10.9m in FY20 and our stake is now valued at $21.2m.

In FY22 the operating return was 5.2% and the total return including valuation uplifts was 27.7%, reflecting major gains across commercial property nationwide.

We expect forward operating returns of around 4.3% but that valuation uplifts will flatten over the coming years.

Te Pūia Tāpapa

Holdings is an investor in Te Pūia Tāpapa (‘TPT’). TPT is a grouping of 28 iwi and Māori investors seeking to partner with existing NZ institutional investors on large scale private investments.

The goal is to get broad exposure to the NZ economy through this vehicle by leveraging experienced partners and their deal channels. Holdings has committed $10m out of a total of TPT’s $115.5m.

TPT now has four investments, all minority stakes:

• TR Group, a major truck, trailer and bus rental business established in 1992

• Non-bank lender Avanti

•

A hospitals business called Evolution Healthcare

Managed funds

Holdings has around $32m invested in a range of liquid, managed funds. This is down on last year due to strategic redemptions we’ve undertaken as well as drops in markets.

The performance of the portfolio reflected the performance of local and international markets: there was strong uplift to the end of Dec 2021 and then steady and at times dramatic drops to the end of June.

Across the portfolio we made a negative return of 11.9%. This has impacted our bottom-line performance with negative revaluations of $4.7m. This is a major drag on our returns but it is important to note that:

• These are paper losses until realised (just as gains are paper only until positions are liquidated)

•

A laboratory services business called Asia Pacific Healthcare Group, which has been a major participant in the Covid response

By year end FY22, around two thirds of TPT capital had been called. APHG made a big impact in FY22, leading to TPT paying its first dividend. TPT delivered a total return of c 16% in FY22.

We expect TPT to continue operating successfully and build out its portfolio in the coming years.

Other private equity

One of our beliefs is that as a long-term investor we can handle an appropriate amount of volatility in our portfolios and invest in businesses that achieve growth over the long term.

To help achieve this we are investors in private equity, investing across a range of different managers and different ‘generations’ of funds.

At year’s end we had commitments to seven different private capital funds (in addition to Te Pūia Tāpapa) with a total carrying value of $5.2m. These funds will generate lumpy returns and we assess them over their life cycle rather than year by year.

The total portfolio has delivered an approximate IRR of 10% since we started investing in private equity.

We expect our overall exposure to private equity to track towards around 15% of the portfolio.

Infrastructure

Holdings is an investor in Australasian infrastructure via the AMP Capital managed Australasian Diversified Infrastructure Trust (‘ADIT’).

This is a long-established fund with significant scale assets in Australia and New Zealand. Locally the fund is a major owner of PowerCo, the local Taranaki lines company.

ADIT’s major assets are Melbourne Airport and student accommodation in Australia.

Both of these were hit hard by travel disruption from Covid however both have come back well as the Australian economy moved swiftly to fully open from the end of calendar 2021.

All assets within the fund saw a positive valuation uplift over the year and the fund delivered an over 10% return (in AUD), after fees.

• Listed markets are inherently volatile and our portfolio of funds has been designed with this in mind and with an eye to the wider portfolio

• Over the last several years we have done well. While we expect modest performance in FY23, there will be a turnaround in the fullness of time and investors are compensated for this volatility

Taranaki Iwi Fisheries Limited

TIFL runs a streamlined operation with all quota leased out, with income also coming from ownership of shares in Moana NZ (formerly Aotearoa Fisheries Limited). There are no direct fishing operations and management including treasury management is provided on contract by TIHLP.

TIFL’s main quota lease arrangements were renewed during FY19 via a new, revised pan-iwi standard ‘Ihu to Mai’ Agreement. This gives TIFL simple, passive access to the value chain.

In FY22 TIFL delivered a pre-tax net profit of $355k compared to $184k last year.

Marae Co-Investment

TIHLP has run a programme to allow affiliated marae the opportunity to invest in Holdings and enjoy either an equity or debt style return depending on marae preferences.

At year end five marae and whānau linked investors had outstanding loans to Holdings, totalling $2.3m.

We thank them for their faith in us and for supporting this initiative and hope that this collective approach will help them to achieve their own financial goals.

We believe this programme is a tangible way of sharing such commercial success as we are able to achieve.

FY22

Financial Performance

Combined Financial Performance

Taranaki Iwi Commercial Group

FY22 $m FY21 $m

Holdings Operating Income 3.5 2.2

Holdings Operating Expenses (0.5) (0.4)

Operating Profit 2.9 1.7

Other Gains and Losses

FX gain/(loss) 0.3 0.0

Direct Investments 8.4 6.5

Managed Funds (4.7) 7.1

Holdings Comprehensive Income 6.9 15.4

TIFL Net Profit before Tax 0.4 0.2

Total Group Comprehensive Income before Tax 7.2 15.6

The Taranaki Iwi Commercial Group (Holdings and TIFL) delivered a total pre-tax return of 6.45% on opening equity.

As mentioned above, managed funds performed below expectations, but all other assets were on target or above.

We made a distribution of $2.25m to Te Kāhui through the year, this was up $360k on last year.

Medium Term Performance

While our total return was below last year’s, it is broadly in line with our long-term projections, which is around 7% on average.

Reserving

We track ‘real capital’ to ensure uri can see that Te Kāhui’s asset base is keeping up with inflation and population growth. This allows us to show true surplus retained earnings, which in turn becomes a good indicator of inter-generational equity.

These calculations are detailed below. Since inception, we have

Results Summary

Taranaki Iwi Commercial Group

Taranaki Iwi commercial group total income (before tax)

Over the last five years we have had an average annual return of 8.4% and delivered total distributions of $9.1m.

been able to create reserves of approximately $8.6m over and above inflation and population growth.

Reserves decreased in FY22 due to very high inflation (over 7%) inputs into reserving however remain within target range at around 7% of overall equity.

FY22 $m FY21 $m

7.2 15.6

Distribution 2.25 1.89

Capital Introduced 83.7 83.7

Inflation Reserve 16.5 9.1

Population Reserve 11.0 9.0

Real capital 111.2 101.7

Reserves 8.6 13.8

Total Group Equity 119.8 115.6

The Year Ahead

For FY23, we expect to see:

• Ongoing investment at Te Pūia Tāpapa

• Further capital calls at Hāpai and Pūainuku and hence increasing allocations to housing, development property and to agribusiness however it is likely that property valuations will not see the increases of recent year

• Further private capital/private equity commitments

Conclusion

• Likely further reduction in managed funds holdings to fund direct investments. We also think FY23 will continue to see modest returns from markets as central banks continue to work to get inflation under control

• Ongoing work to support Te Kāhui and its wider goals, especially in local impact investment

This past year did not deliver the massive result (just under 16%) of last year, principally due to the impact of markets.

Our direct investments did perform well however and this gives us confidence we are on the right path. Our diversification away from markets over the past few years leaves us in the position of being able to ride out volatility while still meeting our obligations.

There are challenges ahead and we do not expect a sharp uptick in FY23 but it will come in time.

I wish to thank the Holdings directors for their contributions through the year, Tania, Whare, Mark and Mārama for their support, the Te Kāhui trustees for their faith in us and all iwi members.

Thank you for this opportunity to undertake the exciting work of rebuilding Taranaki Iwi’s commercial assets.

He pua whakakakōkō, he korari whakahorapa.

Taranaki Iwi Holdings LP

Taranaki Iwi Fisheries Ltd

Commercial Board of Directors

Andy Knight Chair

Proposed Dunedin health precinct building being developed by Hāpai Commercial

Purpose built rental housing under construction in Auckland by Hāpai Housing

Andy Knight (Chair) Hinerangi Raumati- Tu’ua Jacqui King

Minutes of

Te Kāhui o Taranaki Trust Board

Ariana Capper – Te Kāhui kaimahi Planting Day – Cape Road, Warea Papakāinga

Minutes of Te Kāhui o

Taranaki Trust Board

Annual General Meeting (Zoom)

Present:

Adrian Taylor

Adrienne Young Amokura Panoho Andrew Hayman Andrew Knight Antonio Tipene Aroaro Tamati Aroha Healion Beena Flower Bella Edwards Bianca Rameka Brett Maclennan Carl Owen Cary Fitzgerald Catherine Dunphy Cheryl Luke-Maraki

Damien Hond Daniel Harrison Debra Leatherby-Tuuta Dennis Ngawhare Dion Luke Dolly Ngahiwi Horo

Donna Te Tai

Dr Sharon Gemmell

Erin John Fae Sidney Fay Mulligan

Fran Davey

Georgia Ngaia Hana Buchanan

Harley Wall

Helen Roughan Hinerangi Edwards Hinerangi Raumati-Tu’ua

Jacki McAlister

Jacqui King

James Geary

Jamie Tuuta

Jamie-Lavinia Te Nana Janine Luke-Taamaru Jasmine Milne Jasmine Taankink Jesse Hona John Coffey Joyce Thompson Juliet Kellett Karmin Erueti Karyn Maclennan Katerina Hond Keith Kelly Young Kerry Walsh Kura Moeahu Leanne Horo Lenise Onekawa Liana Poutu

Maikara Teresa Steer Maria Hokopaura Marion Tapakione Skinner Mark Wipatene Marlin Elkington

Matthew Steen Melissa Williams Miaana Patene

Michelle Phillips Miriama Waiwiri-Hetet Patina Edwards

Patricia Rangi Patrick Gallagher Patsy Bodger

Perry Kingi Peter Moeahu Peter Scandlyn Puna Wano-Bryant Rangimarie Keall Rawinia Leatherby-Toia

Rawinia Ngohe Raymond Tuuta Rebekah Hill Renee Baldwin Reuben Coffey Ria Waikerepuru Ritihia Waller Robbie Pomare Ropata Maxwell Ryan Coffey Sam Tamarapa Sharon Gemmell Sharron Steen Shona Conroy Taipuni Ruakere Tane & Mala Manukonga Tania Niwa Tania Stokes Tapakione Skinner Tatyana Glassie

Te Aroha Hohaia

Te Maramatanga Toroa

Saturday 11 December 2021 10:00 —1:00

Apologies:

Ana Paewai Andre Capper Angie Walters

Aroaro Tamati (left during hui) Britney Witehira

Christine Commane Damon Ritai Daniel Manu Dean & Kurt Hikaka Larnee Wallace Makere Edwards Margaret ‘Vicki’ Erueti Marina Pihama Nathan Edwards Nemo Wansborough Ngawai Hernandez-Walden Patsy Bodger

Te Raunatanga Williams-Edwards Teina Aue Thomas Taingahue Tim King Tina Taiaroa Todd Rangi Tracy Edwards Vanessa Ellingham Vicki Monk Vicki Wall Wayne Capper Wharehoka Wano Will Edwards

Pauline Capper Rewi Panoho Robina Bedwell Rona Hobson Ruakere Hond Ryan Manukonga-John Shaye Witehira Shona Manukonga Stacey Glassie Tihikura Hohaia Tupaia Edwards

a. Meeting opened @ 10.00am.

b. Mihi, karakia and whakarite: Wharehoka Wano.

c. Chairpersons address:

• Impacts of the Global Pandemic following on from COVID-19 in 2020 to the Delta Variant in 2021;

• Acknowledge stress and strain on our whānau;

• Acknowledge those who have passed and the impact COVID-19 has impacted on our tikanga, our ability to hold tangi and farewell loved ones in an appropriate way; and

• There were five key themes identified throughout the engagement process that now form our strategic whenu which direct us as an organisation.

• Vision - Me tōngai harakeke: Our collective Taranaki Iwi strength is like the harakeke weave resilient, versatile and dynamic inspiring success and intergenerational growth.

• Values: Our values are the guiding principles that instruct our actions and behaviours.

> Kia rongomau: To act with humility, respect and empathy.

> Kia manawanui: To be courageous & determined.

> Kia aroha ki te tangata: That we care for and manaaki our people and environment.

> Kia tika, kia pono: To act with honesty and integrity.

> Purpose: Our core strategies describe the key purpose of Te Kāhui o Taranaki.

> Represent the Iwi: To be the representative body of Taranaki Iwi and to act in the interests of all Taranaki uri.

> Manage the Assets: To ensure the commercial activities are appropriately managed for the benefit of Taranaki uri.

> Administer Benefits: To ensure distribution provides cultural, commercial and social benefits to Taranaki Iwi uri.

• The five whenu in our strategic plan capture our aspirations and provide structure, guidance and direction to our Trust.

> Taranakitanga: Whiria te muka

> Taiao: Uwhia te huhi

> Whanake mai ai: Piua ki te hauangi

> Taketake Tangata: Takea ki te pūtake

> Kawe Whakahaere: Rurunga ki te pā whakaruru

• We now present the whenu to you, to highlight the mahi that has been undertaken. We are pleased to present our Chair and CEO Reports for the 2020/2021 financial year.

d. He Pānui:

• Mute your mic, turn on your camera, find a quiet place;

• Polling to vote on motions: Mover and Seconder will be recorded via Chat, voting poll will follow. Please select from Āe, Kāo, Abstain.

• Pātai can be communicated via Chat.

Apologies can be communicated via Chat or via email admin@taranaki.iwi.nz

2 APOLOGIES

Vote

‘THAT the Apologies as listed above be accepted’

Move: Teina Aue

Second: Donna Te Tai

Against: Nil Carried

3

Vote

MINUTES FROM AGM 5 DECEMBER 2020

‘THAT the minutes for the AGM held on 5 December 2020 be approved as a true and correct record of that meeting’

Move: Jamie Tuuta

Second: Debra Leatherby-Tuuta

Abstain: 13

Against: Nil Carried

3.1

MATTERS ARISING FROM THOSE MINUTES

a. Communications Matrix (via chat): Tane - the communications matrix hui has still not taken place since Aug 2020.

4 CHAIR REPORT

Short video showcasing images captured at the previous Hui ā-tau and Pāhake event (experienced technical issues, video froze and we temporarily lost sound)

a. Poua: Jamie Tuuta touched on the mihi ‘Poua’ in the annual report

• History and narratives relating in particular to Taranaki iwi and the coming of mounga Taranaki.

• This was part of the karakia used when our tupuna ascended Taranaki in the 1800’s to reaffirm their relationship and connection to Taranaki. This was part of the karakia performed by Karepa Tewakahawe.

• The first four lines remind us that our tupuna over generations have affirmed our relationship to all of the things above and below that we cannot necessarily touch.

• Our long standing relationship is intergenerational like a pou in the ground is strong and stable, it will never be taken down.

• The second part speaks to Tahurangi, Rua Taranaki and Maruwhakatare. When Tahurangi first ascended the mounga, he asserted the mana of our people to the mounga by lighting a fire. When we look to our mounga and see the alpine cloud, it reminds us of Tahurangi.

• Rua Taranaki was responsible for placing the name upon Taranaki as given by his father-in-law Maruwhakatere.

• We emanated from the belly of our mountain Taranaki reinforcing our relationship to Taranaki and our mounga.

• There are also references to te harakeke tōngai nui, Rakeitakiha, Te Ahukawakawa and Rahirimihia - particular tupuna and places important to Taranaki Iwi.

• This is the first intro, hopefully later next year we can share more kōrero about Poua.

Second attempt to play video failed, Raymond sung a waiata.

b. Whanake Mai ai: Puia ki te hauangi (presented by Sharlene Maoate-Davis and Jamie Tuuta) The basis of this whenu is to support our whānau, marae pā, hapū and uri to reach their potential. The number of Education Grants and Ka Uruora participants continue to grow.

This year saw the introduction of support packs for our pāhake, pēpi, tamariki, and an internship programme. We also continue to support whānau and marae with Pātaka whata, Pātaka tīkaokao and marae distributions.

• Education Grants: $89,400 worth of grants awarded to 210 recipients (video Narlia King, Sean Young and Shaye Witehira).

• Internships: For the first time, Te Kāhui o Taranaki called for expressions of interest (EOI) from Taiohi to undertake mahi in our tari during the April and June University term breaks. We received EOI’s from five uri: Madison Schimanski, Rongomaihenga Waerea-Hohaia, Teina Ngaia, Shaye Witehira and Tia Moore. Sharlene acknowledged the interns for their support of this kaupapa.

•

Uri Packs: Pēpi, Kura Tuatahi, Kura Waenga and Pāhake Jackets continue to be popular for all age groups. Here are the numbers at a glance:

> Pēpi Packs: 64 (for pēpi born after 1 January 2020).

> Kura Tuatahi: 11 (for tāmariki turning 5 after 1 January 2021).

> Kura Waenga: 47 a (tāmariki in their first year at intermediated (Year 7) after 1 January 2021).

> Pāhake Jackets: 215 (for pāhake aged 65 years and over).

• The marae pā direct funding distribution began with an initial $100,000 allocation to each of the seven marae pā, followed with an annual distribution of $50,000.

• Pātaka whata has continued to be utilised to primarily support our tangihanga.

• The Tīkaokao initiative between Te Kāhui o Taranaki and Tegel Foods Ltd to deliver tīkaokao (whole chickens) to each of our marae (bimonthly) continued during the 2020-21 year.

• Ka Uruora: Ka Uruora is an iwi-led programme of housing & services supporting whānau to achieve financial independence & improve their wellbeing. Ka Uruora delivers financial stability and independence to whānau through education, Whānau Saver – an exclusive invested savings fund with iwi contributions, and multiple home-ownership models. Our Taranaki Iwi whānau Dean & Vicki Wall are the first to buy through the Ka Uruora shared equity model, an initial collaboration between Taranaki and Te Atiawa iwi. Partnership Delivery Model

> Funding and Partnerships: Toi Foundation (formerly TSB Community Trust) for their support of this programme and operational funding, TPK and other Crown agencies.

> Whānau engagement: the partnership delivery model supports iwi to engage with and support their members to improve financial independence and wellbeing. Currently undersubscribed - please like/follow and subscribe on social media platforms.

> Savings: Iwi will match $100 contributions.

> Education and Support.

> Secure affordable rental housing.

> Progressive home ownership.

> Banking and other services.

• Target Housing Delivery over the next two years:

> Ōkato School Development - 29 units (new - over next 2 years).

> Old South Rd Development - 5 units (over next 12 months).

> Ōkato House upgrades - 2 units (over next 12 months).

> Tennyson St Development - 5 units (new - over next 12 months).

> Ōpunake House upgrades - 4 units (now).

• Key Delivery Requirements: we have kaimahi in place to support uri:

> Increasing whānau awareness and engagement.

> Delivery of education and support.

> Matching whānau need and solutions.

> Solution funding, offtake contracting and delivery.

> Project due diligence and planning.

Aroaro left the hui at 10.50am

Key areas of focus for the 2021/2022 year:

• Economic Wellbeing: The development and implementation of initiatives that provide opportunities for whānau to improve their economic wellbeing.

• Training, Education & Employment: Increased access to training, education and employment opportunities.

• Impact Investment: The creation of an impact investment framework to invest in social, cultural and environmental outcomes.

• Housing: Improved housing and increased housing choices for whānau.

• Oranga Iwi: Support and enhance the physical, spiritual, mental and emotional health and wellbeing of uri and whānau.

• Tātai Tāngata ki te Whenua Maara Kai program.

• Pāhake Medical Assistance Grants.

• Marae pā direct funding distribution: The Board have resolved to increase Marae pā direct distributions from $50,000 to $60,000 for each marae. This increase is in line with the distribution increase from TIHLP.

c. Taranakitanga - Whiria te muka (presented by Wharehoka Wano)

Our Taranaki Iwi Strategic Plan gave a clear message that our uri wanted to reconnect with their Taranakitanga. Creating opportunities for uri to connect and to feel a sense of belonging has been a core focus over the past year. From support calls to uri throughout lock down to our key events, every interaction is an opportunity to express our Taranakitanga.

Some of the many engagements included: Pāhake Christmas function, Rā Tiripoua and Regional Engagement.

• Regional Engagement: The priority for the Iwi Engagement team was taking the iwi to the people. This kaupapa brought whānau together to connect with each other and to build and strengthen relationships and our collective Taranaki iwi identity. Engagements were held in Ōpunakē, Waitara and Te Hāwera in November. The team also held a series of regional engagements between April and August 2021. The first engagement was held in April in Te Upoko o Te Ika ā Maui, Ōtepoti and Ōtautahi in June 2021, Tāmaki Makāurau and Kirikiriroa in July and Papaioea in August. Following each event, regional ohu were established to provide opportunities for uri to be the driving force behind Taranaki Iwi kaupapa in their region.

Our 2021/2022 year will see us building on our progress with a focus on the following areas:

• Regional Ohu: We will continue to support these regional ohu in their mahi to build stronger connections with uri within their areas and at home in Taranaki.

• Cultural Capability: In the first quarter of our 2021 year we held the first of our virtual paepae wananga series. We will continue this program throughout the coming year.

• Digital: We are working with a Taranaki based technology educator (Learner Me) to create a digital platform which will serve as a reservoir for our Taranakitanga, history, tikanga and kawa.

• Marae Engagement: An allocation of resource and key strategic directives have been given to elevate our engagement and support of our marae. We understand the demands on marae governance and will take a tailored approach to supporting individual marae

Short video showcasing images captured from uri engagements.

d. Taiao - Uwhia te huhi (presented by Jacqui King)

He Taiao he taiora he taitangata focusses on our role as kaitiaki, the protection of our tribal rohe, our whenua, awa, moanangāhere. We dedicate a large amount of resource to the taiao space and are fortunate to have established a passionate and experienced team. In this whenu we look at:

The Taiao Team and Tui Oilfield Decommissioning.

• Taiao team: The team has been busy this year helping to enhance and sustain the mōuri of our taiao, whilst also connecting uri with our sites of significance.

• Kaitiaki Whenua: Wayne Capper has completed his two-year term at Te Papa Atawhai / Department of Conservation, and has now transitioned into a coordination role to help manage day to day activities for the Taiao team.

• Toa Taiao: The team have been influential in gauging the health and wellbeing of our environment including our landscape and waterways.

• Environmental Planner: Maria Hokopaura has also been added to the team to ensure we have boots on the ground, to provide technical expertise helping with consents, submissions and hearings with NPDC around the long-term plan.

• Tui Oilfield Decommissioning: On 26 March 2021, Te Kāhui o Taranaki signed a partnership agreement with the Ministry of Business Innovation and Employment (MBIE), to work together to decommission the Tui Oil Field which is situated 50 kms offshore of Oaonui.

This partnership approach is a first and is a departure from the traditional consultation process of the Government with iwi. It provides a wonderful opportunity for further partnership and collaboration on future decommissioning projects and on other matters relevant to iwi.

Te Kāhui o Taranaki established an Ohu of highly skilled professionals connected to their hapū and Iwi, who have collective skills and experience to contribute to this important kaupapa. The team is led by Fran Davey (Engagement Lead) supported by Te Uraura Nganeko, Geoff Otene, Glenn Peri and Tokatūmoana Walden.

There are three phases to the decommissioning process with the first being complete in May and the possibility of phase two beginning this summer.

Short video played showing various stages to disconnect the Oilfield, remove subsea structures and plugging unused oil wells.

Key areas of focus for the 2021/2022 year:

• Reserve Management Plan (RMP) Hīkoi: A series of hīkoi whenua were held over July and August of 2021. These hīkoi provided whānau with the opportunity to visit our sites of significances to share their insights and aspirations for the future of these sites. The development of these aspirations into actions and the implementation of stage one works is currently underway.

• Tui Oilfield Decommissioning: Phase 2 is expected to commence this coming summer.

• He Taiao he taiora he tai tangata: This three-year project is funded by the Jobs for Nature program. The focus of this project is to accelerate key work streams whilst building capacity and capability in the taiao space.

• New Kaimahi: Since July we have welcomed Maria Hokopaura, and Mawene Bidois and Tipunakore Rangiwai as apprentice pest controllers through a partnership with the Taranaki Mounga Project.

e. Taketake Tangata - Takea ki te pūtake (presented by Leanne Horo)

The role of the Board members is to represent, advocate and voice clearly our collective aspirations as Taranaki Iwi.

Last year’s election saw Jacqui King returned to the Board and she was joined by Jamie Tuuta. Rawinia Leatherby-Toia resigned from the Board to take up a position within the Iwi Tari. Sharlene Maoate-Davis was elected to fulfill the remaining term of office vacated by Rawinia.

Our Board continue to work with our local councils in New Plymouth, South Taranaki and Taranaki Regional Council. Also, Department of Conservation, Taranaki District Health Board and Ministry of Business, Innovation and Employment.

In March 2020, Aotearoa went into lockdown in response to COVID-19 and the eight iwi of Taranaki came together to coordinate a regional response. This relationship continues to strengthen, as strategies are developed to protect our whakapapa. Leanne Horo (Chair) and Jacqui King (Deputy Chair) advocate for our Iwi at the highest levels to ensure we are able to respond to the needs of our whānau. Our Chief Executive, Wharehoka Wano, provides support alongside the operational team. Our mahi in response to COVID-19 remains our priority for Taranaki Iwi uri.

Representation includes:

• Taranaki Iwi Chairs - Leanne Horo

• Taranaki Māori Trust Board (TMTB) - Leanne Horo: Updates have been communicated in prior hui. TMTB sought legal advice through Te Kāhui Legal, and met with TPK officials. The TMTB annuity will be distributed amongst the eight iwi of Taranaki. All trustees will resign in December and the Trust will be retired via a formal ceremony. A new iwi regional entity will be established (for those iwi that wish to join).

• Taranaki Crossing - Dennis Ngawhare / Leanne Horo

• Mounga Negotiations - Jamie Tuuta: A brief update for those not aware, separate negotiations for the Mounga were to take place once all Iwi had settled. That process commenced in 2016-2017. It has been some years since then with negotiations paused due to not being able to reach an agreement on some of the key remaining aspects. We have since re-engaged with the Minister to discuss the outstanding matters remaining one of which is to ensure sufficient resourcing for the proposed arrangements to ensure it is successful. Governance and other technical matters need to be developed to ensure the proposed arrangements fit with existing arrangements. The process has not been without its many challenges and we had hoped an agreement would be reached by December 2021. We hope to have a draft agreement finalised in the first quarter of 2022. Further engagement hui will be scheduled in early 2022 to update whānau and develop our relationship statement to the mounga.

• Settlement legislation from Mounga will be used to wind up TMTB. There is potential for the new regional entity to link into the mounga entity.

• Te Huinga Taumatua (NPDC) - Jacqui King: It has been an interesting time for Local Government with the additional challenge of Māori wards. It has taken a lot of effort to push for and implement the ward system which we hope will help shape our ability influence at the table and advocate on your behalf. It has been challenging for our representatives and we thank you all for your work.

• Te Whare Punanga Kōrero Trust (DHB) - Leanne Horo

Board members will continue to work diligently to ensure that our Taranaki Iwi voice is represented at regional and national level. Key reforms include:

• The Three Waters Reforms which aims to ensure that Aotearoa’s three waters - drinking water, wastewater and stormwaterinfrastructure and services are planned, maintained and delivered so that these networks are affordable and fit for purpose. We are looking forward to being co-governors in that space when it comes about. Iwi/Māori involvement:

> Ability to influence objectives and priorities of the new entities.

> Involvement in formulation of key planning documents, including mechanisms to give effect to Te Mana o Te Wai.

• The Resource Management Act (RMA) has not delivered on its desired environmental or development outcomes nor have RMA decisions consistently given effect to the principles of Te Tiriti o Waitangi/the Treaty of Waitangi (Te Tiriti).

The Government plans to repeal the Resource Management Act and replace it with three new pieces of legislation.

> Natural and Built Environments Act (NBA), to protect and restore the environment while better enabling development.

> Strategic Planning Act (SPA), requiring the development of long-term regional spatial strategies to help coordinate and integrate decisions made under relevant legislation.

> Climate Adaptation Act (CAA), to address complex issues associated with managed retreat.

• Māori Health Reforms: The Ministry of Health and each of the 20 District Health Boards (DHBs) currently share responsibility for ensuring equity for Māori. In the future, it will remain the responsibility of all organisation to improve Māori health outcomes, with significant changes to ensure that this is embedded and driven through the system:

> A new, autonomous Māori Health Authority will be responsible for ensuring the health system is performing for Māori through:

> partnering with the Ministry to advise Ministers on hauora Māori;

> directly funding innovative health services targeted at Māori (including kaupapa Māori services); and

> working with Health New Zealand to plan and monitor the delivery of all health services.

> Iwi-Māori Partnership Boards, which currently work with DHBs, will have an explicit, formal role – including agreeing local priorities with Health NZ.

> Health NZ will be responsible for improving Māori health outcomes and equity through all of its operational functions at national, regional and local levels.

> The Ministry of Health will continue to monitor how the system is delivering for Māori overall, partnering with the Māori Health Authority.

• Local Government Reviews: On 23 April 2021 the Minister of Local Government established a Review into the Future for Local Government. The Minister is seeking recommendations from the Review that look to achieve:

> Resilient and sustainable local government system that is fit for purpose and has the flexibility and incentives to adapt to the future needs of local communities;

> Public trust/confidence in local authorities and the local regulatory system that leads to strong leadership;

> Effective partnerships between mana whenua, and central and local government in order to better provide for the social, environmental, cultural, and economic wellbeing of communities; and

> A local government system that actively embodies the Treaty partnership, through the role and representation of iwi/ Māori in local government, and seeks to uphold the Treaty of Waitangi (Te Tiriti o Waitangi) and its principles through its functions and processes.

f. Kawe Whakahaere - Rurungia ki te pā whakaruru (presented by Wharehoka Wano)

The operations team has grown yet again over this reporting period. Fran Davey (Tui Decommission Engagement), Rawinia Leatherby-Toia (Strategic Project Manager), and Tina Taiaroa (Administration and Accounts assistant) joined the team early in the year.

We also would like to acknowledge Puna Wano-Bryant who led the Taiao team since its inception. Puna resigned in September 2020 to take up a role at Parininihi ki Waitōtara and Wayne Capper is currently on 12 months sabbatical leave.

A resource review was conducted early in 2021 which helped to align resource and capacity allocation with our strategic directives.

As you can see the team is growing and there is so much we want to do to build capacity and to meet the strategic needs

• Financial performance: Te Kāhui o Taranaki received a dividend of $1.89m from the commercial group. This is then applied to marae pā distribution, tribal development distribution, governance and operations.

The strategic plan along with the direction of the board and feedback from marae pā and wider uri provide the necessary focus for the operations team as we look at the best ways that we can work with and on behalf of Taranaki uri.

• South Taranaki District Council - John Niwa / Leanne Horo

Vote

Key areas of focus for the 2021/2022 year:

• Operational effectiveness: Capacity and capability gap analysis.

• Governance and Leadership: Support the development of leadership and governance capability to enable uri to take on leadership roles within the iwi, hapū, marae pā, whānau and mahi.

QUERIES/DISCUSSION (Q=question, R=response, C=comment)

C. Mark Wipatene: a full recording of this hui and a summary of Q&A will be sent to all who registered for this hui.

C. Ria Waikerepuru: acknowledges financial support from Taranaki Iwi across the pēpi packs for mokopuna, intermediate packs and college and tertiary grants.

Q. Ria Waikerepuru: Is the maara kai programme only available if you live in Taranaki?

R. No, Parihaka soil and resources were purchased for collection by uri. Please contact the team.

C. Debra Leatherby-Tuuta: thank you for the pēpi packs sent to my moko over the last year, they are amazing, so again thank you so very much, always appreciative.

C. Hinerangi Edwards: acknowledges the support Rāhiri Makuini received towards her post grad studies. She has completed her Masters in Indigenous Studies from Victoria uni, and she received the dollar for dollar support from them also. She, with the support from our whānau, hopes to support other rangatahi and pay forward the support she has received.

C. Tatyana Glassie: ka pari ko ngā tae o mihi ki a koutou o Te Kāhui o Taranaki Iwi. Koutou kua tautoko i angeau i runga i taku ara mātauranga, otinoa i te tokomaha o ngā uri i runga ia rātou ake ara mātauranga. Nō mātou te whiwhi, nō mātou te māringanui, me te iri mārō hoki o taku manawa, te hiahia nui kia whakahoki anō hoki i aku mātauranga ki ngā reanga, ki ngā whakahina o tō tātou toi whenua ko te whai tonu mai. Hei te anamata hoki mai ai tēnei raukura ki tōna ūkaipo, hei puna whakarauora i tō tātou Taranakitanga. E tino mihi ana.

C. Dr Sharon Gemmell: Te Maara Kai programme is excellent and great networking and connection for many of us living away from the mounga.

Q. Jesse Hona: What type of operational support is there for Hapu under “Whanake mai ai..” and why was uptake low?

Q. Jesse Hona: how many Taranaki Iwi were in favour of disestablishing the Taranaki Māori Trust Board and starting a new entity?

Q. Dr Sharon Gemmell: Is Taranaki Iwi keen to be part of the new regional entity?

R. Most definitely

Q. Jesse Hona: When are we going to discuss Three Waters more deeply as Hapu/Iwi? And does Taranaki Iwi support Three Waters being managed by the government/3rd parties?

‘THAT the Chairperson’s Report for Te Kāhui o Taranaki Trust be received’

Moved: Leanne Horo

Second: Debra Leatherby-Tuuta Abstain: 2

Against: Nil Carried

5

FINANCIAL REPORT (presented by Daniel Harrison)

a. In summary: Lower Revenue and increased Expenses were offset by strong growth in Other Income resulting in a Total Surplus for the year of $13.6m. This was an increase of $7.1m from the previous year.

b. The key factors contributing to the -$1,440,791 variance in Total Revenue are:

• Finance Income: -$1,072,515: Our Australasian infrastructure fund investment did not pay a dividend this year (it paid a special div as late as Dec 2019 however) due to pressure on its assets including Melbourne airport and student accommodation. We expect it to return to normal performance as Australia re-opens.

• Interest Income: -$149,129: Low interest rate returns on term deposits.

• Lease and Rental Income: Low variance

• Operating Revenue: -$220,011: Reduction in ACE Quota Leasing, Reduced “bulk” grants funding, replaced by milestone funding models, Increase in merchandise sales and Extraordinary Sundry Income recorded in 2020

c. The key factors contributing to the Expense variance of $298,255 are:

• Advisory and Consulting Fees: -$101,803: Reduction in fees relating to Fund Management, Legal (MACAA, RMP) and General Advisory.

• Governance: -$56,438: The reduction in Governance expenses is associated with the cost of last years Charter and Strategic Review

• Office Expenses +$97,080: Increase in “Deprecation” due to increased assets and Engagement related costs coded to “Advertising”

•

Staff Expenses: +$242,866: Year ending June 2021 has full annual salaries for two Toa Taiao and the Engagement Manager. These roles were only partly represented in the previous year. Year ending June 2021 also saw three new staff and associated establishments costs.

Staff Expenses were below budget for the year ending June 2021.

d. Total Capital of $115.9m an increase of $13.68m from the previous year

Vote

‘THAT Financial Report for Te Kāhui o Taranaki Trust be received’

Moved: Karmin Erueti

Second: Daniel Harrison

Against: Nil Carried

6 APPOINTMENT OF AUDITORS

a. Silks have been our auditors for some time and it is prudent and good practice to review these services. We will be going to the market in 2022. Vote

‘THAT Silks Audit Chartered Accountants be appointed as the auditors for Te Kāhui o Taranaki Trust & Group for the financial year 2021/2022’

Move: Tane Manukonga

Second: Amokura Panoho Abstain: 4

Against: Nil Carried

7

TARANAKI IWI COMMERCIAL GROUP (presented by Andy Knight)

Te Kāhui o Taranaki

Taranaki Iwi Holdings LP

Taranaki Iwi Fisheries Ltd

It has been another good year for the group, we are on track. We will have good years and some not so good.

a. Highlights:

• Delivered first home to whānau via Ka Uruora programme;

• Refurbishing five further houses currently;

• Investment wānanga led by the Holdings LP chair (mid 2021);

• Continued successful marae-pā investment programme;

• Good performance from local hotel, Ngāmotu Novotel despite Covid-19 impacts and delivered rebranding and cultural education to staff led by the Te Kāhui CEO;

• Extended co-investment relationships with other iwi;

• Made investment into new commercial housing vehicle to form part of a wider housing solutions strategy;

• Completed a $4.2m investment into, Pūainuku Pastures, an iwi collective which indirectly holds a ~13% stake in Dairy Holdings Limited;

• Total comprehensive income at TIHLP of $15.4m and net profit at TIFL of $0.2m representing 15.7% return on book value of equity across the Taranaki Iwi commercial entities.

b. Taranakitanga - Whiria te muka:

• Ngāmotu Branding.

• Ka Uruora housing.

c. Taiao - Uwhia ki te huhi:

• Reserves acquisition.

• Ongoing Wiremu Rd negotiations.

d. Whanake mai ai - Piua ki te hauangi:

• Investment wānanga.

• Marae pā and Parihaka Papakāinga lending into Holdings.

e. Taketake Tangata - Takea ki te pūtake:

• Strong financial returns.

f. Kawe Whakahaere - Rurungia ki te pā whakaruru:

• Clear strategy and ongoing measured implementation.

• Growing distribution.

g. Our Strategy:

•

Portfolio balanced between delivering income and growth;

• Invest directly via purpose built, best practice investment channels with good partners;

• Use financial assets to fill in risks where don’t have existing channel; and

• Manage for concentration, liquidity and other risks.

h. Our results

• Operating income lower vs FY20 due to managed funds accounting split;

• Not perfect as use managed funds’ taxable income for operating income – but tax rules mean this includes movements in values of bonds and options (even though non-cash);

• Many entities run ALL managed funds returns through operating profit (as highly liquid) – if did this then op profit would be $8.8m;

• Expenses down • Good other value gains from property, Tai Hekenga and Private equity;

• 15.7% total return on opening equity across Holdings LP and TIFL; and

• IRR since inception 7.5% - this meets our arrangements with Te Kāhui of at least 7% return.

i. Responsible Investing / Impact Investing:

•

All assets get full assessment of Enviro, Social factors as part of investment decision making.

• This includes managed funds – have independent adviser and track holdings 6 monthly.

• Appropriate governance key to ongoing oversight: risk and asset specific.

• Developing impact investing policy with Te Kāhui o Taranaki (mid 2021 wānanga).

• Balancing delivery and financial impact between TIHLP and Te Kāhui o Taranaki.

• Current projects:

> Housing refurbishment programme for shared equity;

> Training at Ngāmotu Novotel hotel;

> Scholarships / Cadetships via Pūainuku investments;

> Use of Amotai and driving use of Māori contractors through supply chain for Hapai; and

> Cape Rd properties.

j. Taranaki Investments:

• Local investment around 10% of overall portfolio:

> Ngāmotu hotel;

> Cape Rd reserve properties;

> Housing programme;

> Schools (land leaseback to Crown);

> Investment via infra fund in PowerCo; and

> Inshore Quota.

• Delivered first house to Ka Uruora programme to support housing – further five houses underway. Total investment over time c $3m.

• Ngāmotu Novotel performed well despite Covid-19 – cashflow positive and overall 4% return.

• Investment in local lines company PowerCo via investment in infrastructure fund.

• Marae pā invest $0.5m with Holdings LP.Some of the key Direct Assets

k. Some of our key Direct Assets:

• Tai Hekenga - $17.3m investment

> Crown leaseback portfolio in Wellington – very low risk income;

> Collective of 10 iwi partners;

> Operating return 6.3%;

> Total return 26% including revaluations.

• Hāpai Commercial - $11.5m investment

> Diversified nationwide portfolio of commercial property.

> Collective of 17 iwi partners;

> Annualised operating return of 8.1%;

> Annualised total return of 52.5%.

• Infrastructure

> AMP Capital managed fund of Australasian infrastructure including PowerCo;

> Airport and student accommodation assets hit by travel restrictions;

> Small loss in FY21 but expect upturn as Australian restrictions loosen.

Puia Tāpapa

> Iwi/Māori collective direct investment fund, established by 26 Iwi and Māori entities;

> Three investments at year end (TR Group, Avanti Finance, Asia Pacific Healthcare Group);

> $2.9m investment at year end; $10m total commitment.

• Pūainuku Pastures

> $4.2m investment completed in May 2021;

> Collective of 11 iwi partners;

> Dairy is NZ’s largest exporter and DHL is NZ’s largest dairy farm operator;

> Further related vehicles invested post year end to build agri exposure.

l. Financial Assets:

• Managed funds portfolio of c $40m spread across range of managers and risks.

• Gives good access to assets while we develop our direct strategy.

• Overall 20% return for the year – tailwinds from ‘money printing.

• Also building private equity portfolio of ~4 managers.

• Gives access to private NZ companies.

• PE portfolio returned 11% for the year.

m. Taranaki Iwi Fisheries Limited:

• TIFL is the holding company for fisheries assets.

• Owns income shares in Moana (formerly AFL) and fishing quota.

• Quota is leased to fishing operators, excess cash invested via Holdings.

• Quota leased via “Ihu To Mai” arrangement with Sealord.

• Good outcome: gives value chain profit share without operational risk.

• TIFL delivered c $332k of profit before tax in FY21.

n. Pūtea and distribution growth has increased steadily for the group.

o. Closing Portfolio:

• Total value including TIFL of $116m.

• Cash reducing as execute direct investments.

• Main changes in FY21 are new Pūainuku assets, increasing investment in property and value uplift in Tai-Hekenga (Crown leaseback).

• Portfolio more diversified and resilient.

p. Reserving:

• We track real capital against inflation and iwi membership growth.

• This has run at around 4% p.a. last 3 yrs.

• Earnings above this level are true surplus reserves.

• Currently c $14m or ~12% of total equity.

q. FY22 Focus and Outlook:

• Roll out of more Ka Uruora housing and more investment into Hapai Housing - specialist commercial build to rent vehicle.

• Ongoing investment at Te Pūia Tāpapa.

• Work on local impact investment including possibilities in housing, commercial property and energy.

• Keep eye on inflation (over 5% currently) and interest rate risks (hedging).

• Increasing investment into development property and agribusiness.

• Further private capital/private equity commitments.

QUERIES/DISCUSSION (Q=question, R=response, C=comment)

Q. Jesse Hona: Is the Dairy industry investment a long term or short-term plan? For the record, current dairy farming practices is not good for the environment and the kai that is produced from the dairy industry is not beneficial for hauora. I personally think that is a bad investment because we invest in our Taiao team to pretty much clean up after them for one. I am willing to back this kōrero up in the near future. I do love some of the mahi that our team is doing, ngā mihi.

R. It is a long-term plan. The whenua that underpins the dairy asset has the ability to have alternative land uses which provides good long-term opportunities.

Q. Rangimarie Keall: If dairy investment is a long-term goal, does that conflict with the hope to increase the mauri of our streams? I agree with Jesse, it would be good to see results such as a reduction in run-off consents achieved.

R.Agree, there are opportunities to add value and influence to improve dairying practices and the effects it has on our whenua and streams.

Q. Amokura Panoho: COVID-19 has demonstrated issues with supply chains especially food distribution and sovereignty. Is the Iwi Investment board considering investments in distribution channels e.g. trucking, warehousing etc?

R.Yes, we have invested through Te Puia Tāpapa in TR group, which is making significant investments into green hydrogen powered trucks.

Q. Karmin Erueti: Is health factors included into decision making?

R.Most definitely health factors are considered and in particular with COVI-19 we make sure our policies align and we protect staff and customers (health and safety wise) but also for the longer-term health of the Iwi.

Q. Patsy Bodger: Is the iwi looking at renewable energy?

R.Yes, we are, there are some fantastic opportunities popping up across the sector and we are keen to get involved. We are keen to participate in a much more constructive way.

Q. Marlen Elkington: Is there financial support for Taranaki projects outside of the Mounga region, e.g. Wānanga, Poi, Reo, History in Poneke, Te Tauihu.

R.Please contact your local Ohu who are providing regional feed in and working through the Whiria Te Muka strategy to support development and connection.

Q. Jesse Hona: Is there organisational support available to help Hapū stand independently?

R.Leadership is always given by our hapū, marae/ pā. Whare and the team will be coming out to have discussions next year about what is intended/operational support required etc

C: Jasmine Milne: I’m hopeful that investment choices align with positive choices for the earth.

C: Ria Waikerepuru: Ethical investment practices, good to see there is a whole assessment process that is applied.

C: Erin John: Fantastic reports team and good explanations of activities and outcomes. Investments: looking forward to more diversity, but happy with the current direction. Thank you for the education grant, gratefully received.

Vote

‘THAT the report for Taranaki Iwi Holdings LP and Taranaki Iwi Fisheries Ltd be received’

Moved: Karmin Erueti

Second: Daniel Harrison Abstain: 4 Against: Nil Carried Vote

‘THAT the Group Financial Statements be approved’

Moved: Erin John

Second: Catherine Dunphy Abstain: 2 Against: Nil Carried

8 TRUSTEE REMUNERATION (presented by Jacqui King)

a. Te Kāhui o Taranaki Trust commissioned Strategic Pay Limited to provide a review of its Board of Trustee fees on behalf of the Board.

• The trustee fees have not been reviewed since the Trust’s establishment in 2017.

• Strategic Pay’s approach involves gaining an understanding of the organisation and Directors responsibilities by way of review of documentation provided and interview. Market analysis of relevant samples from the Strategic Pay 2021 New Zealand Directors Fee database and Not-for-Profit Directors Fee 2020 Remuneration Report were used to determine and position appropriate Board fee levels for Te Kāhui o Taranaki Trust.

• Strategic Pay’s guiding principle is that it is important not to undervalue the contributions, experience or time committed by Board members. “In our view, the recommended ranges represent market levels appropriate for your organisation given the context provided, and reflects the Directors Fee Policy.” - Rachel Bate, Consultant, Strategic Pay.

•

The Trustees have considered Strategic Pay’s recommendation and submit a motion to increase the Trustee Remuneration Pool to $195,000 which represents the mid-point of the recommended Fees Range (Note - This increase also aligns with compounded inflation since 2017).

• Total Governance Pool: Current Fees $175,250 (NB this is distributed to Trustees depending on their workload i.e. Chair $44k, Deputy $26,500 and Trustees $21k)

• Recommended Fees Range: $187,500 - $201,900 = 7-5%

Vote

‘THAT the Trustee remuneration pool for Te Kāhui o Taranaki Trust to be $195,000 for the financial year 2021/2022

Move: Catherine Dunphy

Second: Fraser Geary Abstain: 4

Against: Nil Carried

9 HIGHLIGHTS AND OVERVIEW (presented by Jacqui King)

a. 2020/2021 Recap

• Rā Tiripoua: 500 uri registered each received a Tiripoua shirt.

• Ka Uruora: 20 whānau completed Sorted Kainga financial literacy + 1 whānau into home ownership.

• Education Grants: 219 recipients totalling $89k.

• Regional Engagement: 6 regional events, attended by over 500 uri.

• Taiao Team: 5 kaimahi active in their role as kaitiaki.

• Internships: 5 interns over 2 intakes.

• Pēpi & Tamariki Packs: 122.

• Pāhake Packs: 215.

• Pātaka Tīkaokao: 2,240 Tīkaokao for marae pā.

• Marae Distribution: $50k to each Marae totalling $350k.

• Total Grants & Distributions: $681k.

• Membership: 6,531.

• Total Capital: $115.9m.

b. 2021/2022 the year ahead

• Marae Engagement: $70k and resource allocated tailored support for marae.

• Paepae Wānanga: Aimed at building cultural capability, the first has been completed with more on the way.

• Taiao Team: 3 kaimahi have joined the team.

• He Taiao he taiora he taitangata: 3-year taiao project creating 4 new jobs (Applications opening soon).

• Taiao Team: Our taiao team have recently supported whānau hapu with two whale strandings. Ka Uruora Housing: Plans for 45 houses over the next 2 years.

• Tātai Tāngata ki te Whenua Maara Kai program: 89 whānau already participating.

• Pāhake Medical Assistance Grants: Will be launched in the new year.

• Education Grants: Secondary Grants open next week.

• Marae Distribution: 20% Increase to $60k to each Marae totaling $420k.

• Total Grants & Distributions: Budgeted $850k.

10 GENERAL BUSINESS

a. Nil 11 ACKNOWLEDGEMENTS

a. Daniel Harrison and Jacqui King thanked the whānau for their attendance, the Operations team, fellow Trustees and Chair for their hard work over the year. Also, to Andy and the Commercial team.

b. Leanne Horo thanked everyone for tuning in today, we had approximately 101 attendees via Zoom. Acknowledgements to Wharehoka Wano, Mark Wipatene, Raymond Tuuta and the team for all of their mahi. To the Commercial team, Andy Knight and Hinerangi Raumati Tu’ua.

c. Studio set up and those who have contributed to the amazing set: thank you Office Furniture First (furniture and studio set), Kim Kahu (rāranga woven by Kui Whero Bailey) Te Korimako o Taranaki (video streaming), TSH (audio and visual display) and Kiki Ruakere (technical support)

d. Have a safe and relaxing Xmas and New Year with your whānau, be vigilant. We look forward to seeing you all and feeding you when we get the chance.

Meeting closed with karakia by Wharehoka Wano at 12.10pm

New Plymouth

Opunake

Puniho Pā / Tarawainuku.

Te Pōtaka Orimupiko

Oākura Pā / Okorotua.

Te Niho o Te Atiawa / Parāhuka Te Paepae o te Raukura / Takitūtū Toroanui

Financials

Aerial shot - Cape Road, Warea Papakāinga

Financial Performance

Operating Profit

after Tax

and before Fair Value Gains/Losses

$4.7m

up $3.9m from 2021

Total Group Equity

$124m

up $7.7m from 2021

Net Profit after Tax

and before Fair Value Gains/Losses

$4m

up $3.9m from 2021

Dividend & Grant Distribution $672k

down $9k from 2021

This represents the annual distribution to marae/pā, and resources provided to uri (eg, pāhake packs)

Independent Auditors Report

To the Trustees of Te Kāhui o Taranaki Trust

Report on the Audit of the Consolidated Financial Statements Opinion

We have audited the consolidated financial statements of Te Kāhui o Taranaki Trust and its subsidiaries (the Group) on pages 4 to 29, which comprise the consolidated statement of financial position as at 30 June 2022, and the consolidated statement of comprehensive income, consolidated statement of changes in equity and consolidated statement of cash flows for the year then ended, and notes to the consolidated financial statements, including a summary of significant accounting policies.

In our opinion, the accompanying consolidated financial statements present fairly, in all material respects, the consolidated financial position of the Group as at 30 June 2022, and its consolidated financial performance and its consolidated cash flows for the year then ended in accordance with New Zealand equivalents to International Financial Reporting Standards Reduced Disclosure Regime (NZ IFRS RDR).

Basis for Opinion

We conducted our audit in accordance with International Standards on Auditing (New Zealand) (ISAs (NZ)). Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Consolidated Financial Statements section of our report. We are independent of the Group in accordance with Professional and Ethical Standard 1 (Revised) Code of Ethics for Assurance Practitioners issued by the New Zealand Auditing and Assurance Standards Board, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Other than in our capacity as auditor we have no relationship with, or interests in, the Trust or any of its subsidiaries.

Other information

The Trustees are responsible on behalf of the Group for the other information. The other information comprises the Annual report but does not include the financial statements and our auditor’s report thereon.

Our opinion on the consolidated financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

In connection with our audit of the consolidated financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If based, on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Trustees Responsibilities for the Financial Statements

The Trustees are responsible on behalf of the Group for the preparation and fair presentation of the financial statements in accordance with NZ IFRS RDR, and for such internal control as the directors determine is necessary to enable the preparation of consolidated financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the consolidated financial statements, the directors are responsible on behalf of the Group for assessing the Group’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Group or to cease operations, or have no realistic alternative but to do so.

Auditors Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the consolidated financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (NZ) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated financial statements.

A detailed description of the auditors’ responsibilities including those related to assessment of risk of material misstatement, evaluation of appropriateness of going concern assumptions and determining key audit matters are available on the external reporting board website:

http://www.xrb.govt.nz/standards-for-assurance-practitioners/ auditors-responsibilities/audit-report-7/

Restriction on Distribution or Use

This report is made solely to the Trustees, as a body, in accordance with Section 11.2 of the Te Kāhui o Taranaki Trust Deed. Our audit has been undertaken so that we might state to the Trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Trustees, as a body, for our audit work, for this report, or for the opinions we have formed.

Cameron Town

Silks Audit Chartered Accountants Ltd Whanganui, New Zealand

Date: 16 September 2022

Consolidated Financial Statements

Te Kāhui o Taranaki Trust & Group

For the year ended 30 June 2022

Directory

Nature of Business

Investment for the purposes of providing benefits and opportunities for Taranaki Iwi

Beneficiaries

Members of Taranaki iwi

Trustees

Leanne Horo - Chair, Jul-Dec 2021 Jaqualine King - Interim Chair, Dec 2021 to Feb 2022, Chair, March 2022 Daniel Harrison Aroaro Tamati Dennis Ngawhare Jamie Tuuta Sharlene Maoate-Davis

Board of Directors - Taranaki Iwi Holdings Management Ltd

Andrew Knight - Chair Hinerangi Raumati Tu'ua

Jaqualine King

Bankers

Australia New Zealand Banking Group (ANZ) Bank of New Zealand (BNZ)

TSB Bank Limited (TSB)

Westpac Bank New Zealand Limited

Solicitors

Greenwood Roche Govett Quilliam

Chartered Accountant Vanburwray Chartered Accountants Limited

Auditors

Silks Audit Chartered Accountants Limited

Statement of Cash Flows

This publication uses vegetable based inks and environmentally responsible paper. Printed on Advanced Laser stock, which is Forest Stewardship Council ® (FSC®) certified, Mixed Source pulp from Responsible Sources.