Taranaki Iwi Commercial Group – Results Summary

The Year Ahead

For FY22, 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

• Further private capital/private equity commitments

• Likely further reduction in managed funds holdings

Conclusion

The board is pleased with a total return of 15.7% for the year.

We have benefitted from some good assets but also from some strong macro tailwinds notably money printing and huge government spending to stimulate the economy post its Covid-19 shutdown.

We know not every year will be like this but the longer we go, the more resilient our portfolio becomes and we believe we have a good foundation to weather inevitable ups and downs that lie ahead.

I wish to thank the Holdings directors for their contributions through the year, Tania and Whare 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.

Andy Knight Chair Taranaki Iwi Holdings LP Taranaki Iwi Fisheries Ltd