Taranaki Iwi Commercial Group (Holdiings and TILF) Combined

Financial Performance

The year ahead

For FY20, we expect to:

• See returns from Tai-Hekenga bolster operating performance

• Rebrand at the Novotel and ongoing good performance

• Develop exposure to direct commercial property. At time of writing an opportunity to participate in a new iwi consortium was close to being finalised and we hope to have news to report by the AGM

• Support the development of Ka Uruora though the supply of houses into their scheme

Working with the other investors to establish Te Pūia Tapapa as a major local direct investor in good New Zealand assets. We expect to see its first major investment this year.

Conclusion

The board is pleased with financial performance in FY19 and with the new investment concluded through the year and just afterwards. These should flow through to sustainably increased cash yields in the coming years.

I wish to thank the TIHLP directors for their contributions through the year, and to Tania and Whare for their support. Thank you also to the trustees of Te Kāhui o Taranaki for their continued confidence in our work.

Nāku te rourou nāu te rourou ka ora ai

te iwi

Andy Knight Chair

Taranaki Iwi Holdings LP

Taranaki Iwi Fisheries Ltd

Taranaki Iwi Board of Directors

Andrew Knight – Chair

Leanne Horo

Hinerangi Raumati Tu’ua

Daniel Harrison – Associate Director