Annual General Meeting - Chairmans Speech and presentation

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DRAFT 2025 Annual Shareholders' Meeting of WasteCo Group Limited

Chairman/Acting CE Presentation

Housekeeping and introductions
Good afternoon, shareholders, members of the board, executives, and distinguished
guests.
Thank you for joining us at our third Annual Shareholders’ Meeting of WasteCo Group
Limited.
My name is Roger Gower, and it is a privilege to address you as the Chairman and acting CE
WasteCo.
Joining me this morning are my fellow directors Sean Joyce, Shane Edmond and Rodney
Malam.
On behalf of the Board, I'd like to thank you all for attending this annual meeting in person
and online. Your presence, either physically, online or by proxy, shapes our future of
transparent governance and open dialogue.
This meeting is being webcast live for the benefit of shareholders, and those who are
unable to attend in person. We are pleased to welcome shareholders participating online
through our virtual meeting platform provided by our share registrar, MUFG Markets.
The meeting today will follow the agenda set out in the Notice of Meeting, sent to
shareholders on September 11.
After my speech there will be an opportunity for shareholder discussion before moving on
to the formal resolutions for consideration today.
We will then move on to general business before the meeting closes.
I am advised that with the shareholders present and the proxy votes held we have a
quorum and the meeting is properly constituted.
Proxies have been received for the purposes of this meeting in respect of approximately
484,023,676, representing approximately 44.07% of the total shares.
I as Chair hold proxy votes numbering 473,502,331.
We have not received any apologies.
I'd like to thank shareholders for participating in today's meeting.
As set out in the Notice of Meeting, all directors unanimously support each resolution
being considered by the meeting.
My fellow directors and I will vote on all discretionary proxies we have received in favour of
the resolutions as set out in the notice of meeting.

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Business Overview
This has been a year of both highlights and hard lessons for WasteCo. We have grown sales
by more than eight million dollars, lifted operating EBITDA, secured long-term contracts,
and extended our footprint through the acquisition of Civic Waste. These achievements
show the strength of our people, the trust of our customers, and the confidence of our
investors.
But we must also be clear about where improvements are needed. Some parts of our
business are not profitable. In places our processes have become too complex for the
company we are today. And most painfully, the tragic loss of our colleague, Lynda Kelly,
reminded us that nothing matters more than keeping our people safe.
The lesson is simple. Growth must be sustainable and supported by strong margins. Our
operations need to be sharper and more efficient. And our safety systems must work in
practice, not just on paper. That is why we have entered what I call a reset phase. This is
not about panic or crisis. It is about strengthening the foundation of the company so that
every step forward is sustainable.
We are reviewing our operations carefully. We are focusing on what core work WasteCo
should be doing, and how we deliver services in a way that is both effective and profitable.
At the same time, we know we need to grow. That means winning new business, building
deeper customer relationships, and expanding where it makes sense. Sustainable growth,
with the right margins, is the goal.
Our strategy remains clear. We will run our operations well while pursuing acquisitions and
contracts that build our presence nationwide. The Civic Waste acquisition has extended our
footprint and enabled us to compete for large, multi-site contracts. This growth has been
supported by a fifteen-million-dollar investment from Empire Waste Technology Limited
and a successful five million dollar share purchase plan. More recently, a wholesale
investor subscribed for two million dollars in new convertible notes. This strengthens our
capital position and provides flexibility for the future.
Our national growth strategy has also been reinforced by a major new partnership with
Ashburton District Council. Beginning in September 2026, we will deliver services to more
than 12,000 households, supported by a new fleet and workforce. This is a milestone for
WasteCo in Canterbury and an opportunity to demonstrate innovation, environmental
performance, and community outcomes.
Financially, the year reflected both progress and challenge. Sales rose by 8.18 million
dollars and operating EBITDA increased by 1.27 million. However, after accounting for one-
off restructuring and acquisition costs, the Group recorded a total comprehensive loss of
9.85 million. These results reflect a business in transition, reshaping for long-term
sustainability and growth.
Safety remains the most important responsibility we carry. The loss of Lynda Kelly has
strengthened our resolve to do better and to be better. We are rebuilding our health and
safety systems from the ground up, embedding stronger accountability, and ensuring that
every team member goes home safely each day.

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Looking ahead, our focus is on five priorities:
• Rebuilding our health and safety system so it delivers in practice.
• Fully integrating Civic Waste into our business.
• Delivering the Ashburton District Council contract with discipline and pride.
• Rolling out NetSuite as our digital backbone.
• Valuing our people, ensuring they are trained, supported, and set up to succeed.
We are also advancing our sustainability agenda. Fleet tracking is helping us cut emissions
and improve logistics. Hybrid and electric vehicles are entering our fleet. And we are
developing an integrated sustainability plan with clear targets and transparent reporting.
Some of the decisions we make will be difficult. All of them will be aimed at strengthening
WasteCo’s foundation, returning to profitability, and building long-term value for
shareholders, partners, and communities.
On behalf of the Board, I want to thank our staff for their commitment, our customers and
partners for their trust, and our shareholders for their confidence. Together, we are
building a stronger, safer, and more resilient WasteCo.
Thank you for your ongoing trust and investment in WasteCo.
Shareholder Discussion
I would now like to give shareholders the opportunity to ask questions, whether
related to the presentations, our annual report and financial statements or the
management of the company.
Our annual report for the year ended 31 March 2025 has been sent to shareholders and is
also available online on the investor section of our website and on the NZX.
We will also answer questions that have been submitted by shareholders who have
completed proxy forms.
If you are asking a question from the floor, please state your name, whether you are a
shareholder, or if you are a proxy holder, the name of the shareholder you are
representing.
Do we have any questions in the room?
Are there any questions online?


Resolutions
We now come to the formal part of the business - matters requiring resolution, which are
outlined in the Notice of Meeting.
There will be an opportunity for shareholders to ask questions on each matter being put to
shareholders. Questions raised should relate directly to the matter being considered.
When I call for questions, can shareholders present in the room please raise your hand before
clearly stating your name and whether you are a shareholder or a proxy holder.

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Online attendees can submit questions by clicking the “Ask a Question” button in the virtual
meeting platform.
Now, moving to the resolutions, a poll will be held on each of these resolutions.
Shareholders joining us here today, you would been given your shareholder voting card. If you
are a shareholder and did not register on arrival and wish to vote, please make your way to the
registration desk outside the room and staff from MUFG Pension & Market Services will assist
you. Please mark your voting intention for each resolution on your voting card which will be
collected at the conclusion of the meeting.
Shareholders joining online will be able to cast their vote using the electronic voting card
received when online registration is validated.
To vote, you will need to click “Get Voting Card” within the online meeting platform. You will be
asked to enter your Shareholder or Proxy Number to validate. Please then mark your voting
card in the way you wish to vote by clicking “FOR”, “AGAINST” or "ABSTAIN" on the voting card.
Once you have made your selection please click “Submit Vote” on the bottom of the card to
lodge your vote.
Please refer to the virtual meeting online portal guide or use the help line specified if you require
assistance.
Voting will remain open until 5 minutes after the conclusion of the meeting.
Results of the vote will be announced via the Exchange.
Each resolution set out in the Notice of Meeting is to be considered as an ordinary resolution
and, as such, must be approved by a simple majority of the votes cast by shareholders entitled
to vote and voting on the resolution.
Resolution 1
To record the re-appointment of Deloitte as auditor of the Company and to authorise the
Directors to fix the auditors’ remuneration for the ensuing year.
Are there any questions from shareholders on this resolution?

[Handle questions from those in the room, once no further questions from the room...]

Are there any questions from shareholders in attendance online?

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[If no questions] – There are no questions on this matter from shareholders joining online.

[If question] – We have received a question from [shareholder name]. The question is [read
question]

[After question is answered]

[Chair]
Are there any further questions on this resolution from shareholders in attendance online?

[If no questions] – There are no further questions on this resolution from shareholders joining
online.

Thank you – please mark your voting cards in the way you wish to vote by ticking or clicking
“FOR”, “AGAINST” or "ABSTAIN" in the appropriate place on the voting card.
Resolution 2-
That Shane Edmond, who retires by rotation pursuant to NZX Listing Rule 2.7.1 and has offered
himself for re-election, be re-elected as a Director of the Company.
Are there any questions from shareholders on this resolution?

[Handle questions from those in the room, once no further questions from the room...]

Are there any questions from shareholders in attendance online?


[If no questions] – There are no questions on this matter from shareholders joining online.

[If question] – We have received a question from [shareholder name]. The question is [read
question]

[After question is answered]

[Chair]
Are there any further questions on this resolution from shareholders in attendance online?

[If no questions] – There are no further questions on this resolution from shareholders joining
online.

Thank you – please mark your voting cards in the way you wish to vote by ticking or clicking
“FOR”, “AGAINST” or "ABSTAIN" in the appropriate place

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Resolution 3
That Simon Herbert, who was appointed by the Board since the Company’s last annual
meeting and retires pursuant to NZX Listing Rule 2.7.1 and, being eligible, has offered himself
for election, be elected as a Director of the Company.
Are there any questions from shareholders on this resolution?
[Handle questions from those in the room, once no further questions from the room...]
Are there any questions from shareholders in attendance online?
[
[If no questions] – There are no questions on this matter from shareholders joining online.
[If question] – We have received a question from [shareholder name]. The question is [read
question]
[After question is answered]

[Chair]
Are there any further questions on this resolution from shareholders in attendance online?

[If no questions] – There are no further questions on this resolution from shareholders joining
online.

Thank you – please mark your voting cards in the way you wish to vote by ticking or clicking
“FOR”, “AGAINST” or "ABSTAIN" in the appropriate place on the voting card.

Resolution 4
That Sean Joyce, who was appointed by the Board since the Company’s last annual meeting
and retires pursuant to NZX Listing Rule 2.7.1 and, being eligible, has offered himself for
election, be elected as a Director of the Company.
Are there any questions from shareholders on this resolution?
[Handle questions from those in the room, once no further questions from the room...]
Are there any questions from shareholders in attendance online?

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[If no questions] – There are no questions on this matter from shareholders joining online.
[If question] – We have received a question from [shareholder name]. The question is [read
question]
[After question is answered]
[Chair]
Are there any further questions on this resolution from shareholders in attendance online?
[If no questions] – There are no further questions on this resolution from shareholders joining
online.
Thank you – please mark your voting cards in the way you wish to vote by ticking or clicking
“FOR”, “AGAINST” or "ABSTAIN" in the appropriate place on the voting card.
Resolution 5
That Sara Lunam, who was appointed by the Board since the Company’s last annual meeting
and retires pursuant to NZX Listing Rule 2.7.1 and, being eligible, has offered herself for
election, be elected as a Director of the Company.
Are there any questions from shareholders on this resolution?
[Handle questions from those in the room, once no further questions from the room...]
Are there any questions from shareholders in attendance online?
[If no questions] – There are no questions on this matter from shareholders joining online.
[If question] – We have received a question from [shareholder name]. The question is [read
question]
[After question is answered]
[Chair]
Are there any further questions on this resolution from shareholders in attendance online?
[
[If no questions] – There are no further questions on this resolution from shareholders joining
online.
Thank you – please mark your voting cards in the way you wish to vote by ticking or clicking
“FOR”, “AGAINST” or "ABSTAIN" in the appropriate place on the voting card.

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Resolution 6
That James Redmayne, who retires by rotation pursuant to NZX Listing Rule 2.7.1 and has
offered himself for re-election, be re-elected as a Director of the Company.
Are there any questions from shareholders on this resolution?
[Handle questions from those in the room, once no further questions from the room...]
Are there any questions from shareholders in attendance online?
[If no questions] – There are no questions on this matter from shareholders joining online.
[If question] – We have received a question from [shareholder name]. The question is [read
question]
[After question is answered]
[Chair]
Are there any further questions on this resolution from shareholders in attendance online?
[If no questions] – There are no further questions on this resolution from shareholders joining
online.
Thank you – please mark your voting cards in the way you wish to vote by ticking or clicking
“FOR”, “AGAINST” or "ABSTAIN" in the appropriate place on the voting card.
MUFG Pension & Market Services will now move through the room to collect your voting
cards. For those shareholders online, you can now submit your vote – voting will be open until
5 minutes after the conclusion of the meeting.

General Business
I would now like to give shareholders the opportunity to ask questions - whether related to the
presentations, the Financial Statements or the management of the company.
Shareholders online can continue to provide questions through the online platform, and we
will also address questions from the room.

When I call for questions, can shareholders present in the room please clearly state your name
before asking the question. I will take questions from those present in the meeting first before
moving onto any questions from shareholders online.

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I ask that in the interests of fairness to all shareholders attending this meeting that anyone
wishing to ask questions be as concise as possible and be considerate to other shareholders
wishing to ask questions.

Are there any questions from shareholders?

[Handle questions from those in the room, once no further questions from the room...]

Are there any questions from shareholders in attendance online?


[If no questions] – There are no questions from shareholders joining online.

[If question] – We have received a question from [shareholder name]. The question is [read
question]

[After question is answered]

[Chair]
Are there any further questions from shareholders in attendance online?

[If no questions] – There are no further questions from shareholders joining online.
If that is the end of the questions, on behalf of WasteCo's Board and Management, I would
like to thank you for your continued support and trust.
I now declare the meeting closed and invite shareholders present to stay for light refreshments
at the end of the meeting. For those unable to attend, a copy of today's presentations are
available on our website under the 'Investor Centre' section.


Thank you.

Roger Gower
Chairman/Acting CE
WasteCo Group Limited