1. PNCC Presentation Palmerston North Airport Ltd 2012/13 Annual Report Our Vision To grow the shareholder’s regional economic value by operating a safe, efficient, attractive and profitable airport that serves the Central Region

2. Financial Overview Performance30-Jun 1330-Jun-13 30-Jun-12 Actual SOI Actual Revenue4,589,8004,593,500 4,480,318 EBITDA1,765,1041,933,000 1,738,650 Net profit after tax 491,883 610,500 495,564 Passengers 445,147 467,000 449,318

3. Overview Revenue Operations & Maintenance Costs Administration costs EBITDA Net Surplus Passenger Numbers

4. Financial Overview Revenue – aeronautical up 3.4% & non-aeronautical up 1% Additional operational & maintenance costs increased: Deferred maintenance to support safety and aesthetic Review of District Plan Investment in projects to support revenue growth Air noise review Review operating exposition Administration & personnel costs decreased: Marketing, recruitment & legal expenses decreased Personnel costs decreased due to Corporate restructure Consulting cost increased – Project Outback and Compliance & Policy updates.

5. Financial Overview EBITDA 1.5% improvement on 2011/12 Adjustments of asset register and WiP increased taxation charges and deferred tax for 2012/13 Net Surplus decreased as a result of higher taxation expense Shareholder’s Equity continues to increase Dividend payment to PNCC $196,753

6. Other Highlights Aeronautical Route Development Route development plans under negotiation ( Nelson Services) Visitor strategy developed Regulatory Compliance Aerodrome Operating Certificate 139 Infrastructure Airside apron area upgrades Terminal facilities upgrade with customer enhancements Refurbishment of café Car park stage one

7. Other Highlights Planning Air noise contour review to meet sectional review of District Plan importance of 24/7 operations Pricing Removal of separate departure levy (Oct 12) Growth in car-park numbers; Increased by 8.9%; generating an additional 4.6% in revenue

8. Looking to the Future Continue to develop and refine short & long term strategy Protect our 24/7 operation Focus on additional domestic services Raising awareness of events and attractions through-out the wider region & encouraging regional collaboration New Retail outlet planned for 2013/14 Planned restructure of the rental car operations and terms of concession in 2013/14

9. Questions