Are we good to go? [Foreign language]. Good morning, ladies and gentlemen. I'm Mark Cairns, Chair at Freightways, and it's my pleasure to welcome you to our 2024 Annual Shareholders Meeting. It's great to see you again, and a warm welcome to those people joining us online also. With us today are my fellow directors, Mark Rushworth, Peter Kean, Abby Foote, David Gibson, and Fiona Oliver. Abby, Fiona, and I are standing for re-election and will address the meeting later today. We'll shortly be hearing from our Chief Executive, Mark Troughear, and also on the stage we have our Chief Financial Officer, Stephan Deschamps, and our General Counsel and Company Secretary, Nicola Silke. Other members of our executive are also present in the room today and happy to chat with you over a sausage roll at the conclusion of the formal business this morning. Also here are the company's auditors, PricewaterhouseCoopers, and the company's external legal advisors, Mayne Wetherell. We have a quorum of shareholders, so I declare the meeting open. Firstly, a few housekeeping matters. The bathrooms are located on the first floor of the atrium. In the unlikely event of an emergency, please evacuate immediately through the fire exit doors and gather at the assembly point in the car park behind this building. Could I request that you please take this opportunity to switch your mobile phones off or onto silent, please? I'd now like to run through the structure of the meeting. I'll begin with procedural matters and then summarize some of the company's highlights over the last financial year. I'll then ask our Chief Executive, Mark Troughear, to provide an overview of the company, update on strategy and current trading performance, and provide commentary on our outlook for the remainder of the financial year. Following Mark's presentation and any questions relating to the management of the company, I'll then introduce the formal resolutions as outlined in the notice of meeting. The financial statements for the year end of 30 June are set out in the company's annual report, released to shareholders in August. The company also released its first climate-related disclosures earlier this week for the year end of 30 June, 2024. As set out in your meeting guide, any shareholder or proxy attending the meeting or participating online is eligible to ask a question. Can I please ask that shareholders give their name when speaking or asking questions, and confirm if they are a shareholder or a proxy holder? Roving microphones will be available. Please wait for the microphone prior to asking your question to ensure that your questions are conveyed to everyone present, including those shareholders online. If you are attending online, please select the Q&A tab on the right half of your screen at any time, then type your question into the field and press Send. Please note that you can submit questions from now on, but I will not address them until the relevant time in the meeting. We may amalgamate similar questions, sorry, questions of a similar nature. If, at the end of the meeting, you don't feel that your question was addressed, or you'd like to discuss it further, please contact us via the Investor Contact on our website. Should you require any assistance using the Computershare online platform, you can type your query in the Q&A tab in the same manner as typing a question, and one of the Computershare team will reply to your query via the chat function. Alternatively, you can call Computershare on 0800 650 034. As usual, all of the resolutions put to shareholders today will be decided by way of a poll, and the polls will be administered by our share registry, Computershare. The results of the polls will be announced by the stock exchanges after the close of the meeting. If you're attending the meeting virtually and eligible to vote at this meeting, you'll be able to cast your vote under the Vote tab when the resolutions are put. Once the voting is open, the resolutions will allow votes to be submitted. To vote, simply select your voting direction from the options shown on the screen. You can vote for all resolutions at once or by each resolution. Your vote has been cast when the tick appears. To change your vote, simply change your vote. You have the ability to change your vote up until the time I declare the voting closed. In order to provide you with enough time to vote, I'll shortly open the voting for all resolutions. Persons attending the meeting who are not shareholders, proxy holders, or corporate representatives of a shareholder may not vote. I now declare voting open on all items of business. The resolutions will now be open in the Vote tab. Please submit your votes at any time. I'll give you a warning before I move to close voting. And I will remind everyone again of these two processes when we come to vote on the resolutions later in the meeting. I'd now like to speak briefly to some of the highlights of Freightways' 2024 year. I think most people will agree that the last year has been a challenging one against many economic headwinds. Against this backdrop, I'm immensely proud of what our Freightways teams have achieved. The macroeconomic context, particularly in New Zealand, has seen a significant number of companies retrenching and business activity well below the previous year. Many sectors of the economy have been significantly impacted, but the diversification of our businesses has proven its worth, allowing us to achieve solid revenue growth. Australia has fared slightly better than New Zealand, and it's pleasing to see the benefits of our growing geographical diversification, where 35% of our revenue is now generated in Australia. Labor shortages continued to impact early in the year, with almost double-digit labor cost increases for the second year running. The good news is that this trend has now eased, and we're finding it considerably easier to recruit for open positions, and the wage pressure has returned to historical levels. Excuse me. We have continued to invest in our operations. We commissioned two state-of-the-art sortation systems at Allied Express in Melbourne and Sydney that will allow us to manage significantly larger volumes at greater levels of productivity... After many months of delays, we finally received the approval to operate our medical waste facility in Victoria, and we also opened our new temperature-controlled third-party logistics, or 3PL facility for Big Chill in Ruakura, Hamilton. These investments position our businesses well to benefit from any economic recovery in the future. As previously mentioned, in a difficult macroeconomic environment, especially in New Zealand, we achieved a solid 8% growth in revenues to NZD 1.2 billion. This reflects a full-year of our latest Australian acquisition, Allied Express, but also the growth of our Express Package businesses, driven by price increases and market share gains. Our earnings before interest, tax, and amortization, or EBITA, grew at a slower pace to NZD 149 million, representing a 2.5% increase. Two main factors influenced this: labor costs increasing by more than 9% in FY 2024, and secondly, the impacts of our investments were expensed on the cost line, whilst the full revenue benefits will only be captured in the coming financial year. Our new temperature-controlled facility in Ruakura opened last October and was a net cost during the year. Our new medical waste treatment facility in Victoria was also impacted by delays in receiving the EPA license but is now fully operational. Finally, our net profit was down 6% to NZD 70.1 million, with our interest expense increasing during the year, largely due to increased lease liabilities. Our businesses are well-positioned to benefit from the economic recovery we expect to see in New Zealand, along with our continued focus on winning new business at sustainable pricing. Reflecting these results, we declared a final dividend of NZD 0.19 per share, bringing the total annual dividend to NZD 0.37 per share, stable on the prior year. When setting the dividend, the board is cognizant of the expectations of our shareholders and also of our balance sheet capacity. With debt currently close to the maximum level we're comfortable with, the board declared the dividend at 75% of our earnings. Freightways has just released its FY 2024 climate-related disclosure statement. A significant amount of work has gone into this document after four years reporting under the Task Force on Climate-related Financial Disclosures, or TCFD, framework. The cost and effort required is not insignificant for Freightways, which operates a number of businesses in different geographies with lean corporate teams. We're committed to continuing to work on ensuring the quality of our reporting and, more importantly, ensuring that we support our contractors, who generate the majority of our emissions, to transition to lower-emission vehicles. Mark Rushworth will retire as a director with effect from the end of this meeting after nine years on the board. I wish to personally acknowledge and thank Mark for his time and commitment to Freightways. Mark joined our board in September 2015. Back then, Freightways had revenues of NZD 505 million and EBITA of NZD 88 million. As Mark is retiring, the company has grown its revenue 2.4 times, while the EBITA has increased by 1.7 times and market capitalization almost doubling, with the share price increasing from NZD 5.27 to last night's close of NZD 9.75. So thank you, Mark, for your nine-year service to Freightways. This November, New Zealand Couriers will have been delivering for Kiwi businesses for 60 years, a remarkable journey that began on November the 5th, 1964, evolving from modest beginnings with just two vans to now being New Zealand's leading courier company, a part of a publicly-owned Kiwi powerhouse, Freightways, with a team of over 15,000 committed logistics professionals with branches nationwide. A business that continues to thrive and lead the way in a world increasingly impacted by e-commerce. 60 years of dedication and growth in the courier industry. I'll now hand over to your Chief Executive, Mark Troughear. [Foreign language]. Mark. Here. That looks like something out of a The Sweeney, this photo. [Foreign language]. Good morning. Quite like this venue. I think it's a bit more intimate than Eden Park. I think you fit perfectly. You look really good from where I'm sitting up here. This might be a keeper, I think. There's a good deal of Freightways team here today, so encourage you later on to seek some of that team out, because they really are the ones that have helped deliver the results for Freightways over the last number of years, particularly over this last year, which has been pretty tough. So, I'll stand up here and talk a bit about what we're doing, but these are the people here that you should either shake their hand, give them a thank you, or quiz them, if there's something else that you'd like to know. What I'll do today is just talk briefly, a little bit about Freightways' strategy. I'll just pick off a few of the key initiatives that we have through the business, provide a brief trading update for quarter one, and close with some comments around the outlook for the business. We operate in each of the activities we have under what we call a Three Horizon framework. So the first horizon is the original network or the original business that we set up, and so in the courier business, for example, that was our B2B business. That was New Zealand Couriers 60 years ago, delivering between businesses, setting up a branch network, a line haul network, an air freight network, delivery nationwide. That was our first horizon. The second horizon in each business builds off the infrastructure we have and looks to really scale quickly. So in courier, that happens to be targeting the B2C markets, which have grown really quickly over the last number of years, and where we predominantly compete against the state-owned enterprise, New Zealand Post. The third horizon we establish are those businesses that will be small initially, but we think have the potential to really grow well over the five to 10-year horizon. So that's the methodology we think about in each of the activities we operate in: Express Package, Temperature Control, Information Management, and Waste Renewal. Each of them has three horizons, and we think by doing that, we can keep growing the business well. We will keep providing jobs and opportunities for our teams, and we won't hopefully be like a number of businesses that you see laying off people because activity is falling here, there, and everywhere. That's the fundamental model that the team here execute across the businesses that they run. Just going to talk to a few points there. These are by no means an exhaustive list of the strategies we have within each business, but they're some of the more relevant points that we're working on currently. So within Express Package and Business Mail, one of our key projects for Horizon One is developing a new billing and pricing system that will enable us to price in a more sophisticated manner than we do today. The reality is that much of our pricing today is driven off the old prepaid tickets that started 60-odd years ago and that have lasted, you know, pretty well through to today. But they didn't give you a whole lot of flexibility in the way that you charged for an item. If that item was bigger, if it needed a signature, if it needed an ID checked, if it was going further across a city like Auckland, which has expanded radically over those years, we need a better ability to charge incrementally for the extra effort that we have, and so we will put effort into a new billing and pricing system that will allow us to do that. The Horizon Three activity with Express Package and Business Mail is growing our oversized freight. We used to call it ugly freight. We now call it big and bulky, but these are bits of flat pack furniture. They're the prams, the bikes, the car seats. Anything that's bigger than a typical courier item, usually between 25 and 60-odd kg, and we think there's a real niche for that in New Zealand. What we like doing is winning niches, going out and trying to really claim that niche. And so we believe that's a niche we can adopt here and grow quickly. In Australia, through the acquisition of Allied Express, we have the market leader in that niche, and so we can learn off the Allied business here for the New Zealand operations and keep growing and scaling the Allied business over in Australia. Within Temperature Control, again, within the first horizon, another key IT initiative for us is putting in place a new transport management system, which gives our customers real-time courier-like visibility for fresh, chilled, and frozen food going through the network. It'll give us rich data, it'll help us make better decisions, but it'll give our customers a real advantage in terms of tracking their volume, and making it more efficient for them to deal with us. In terms of the second horizon, within Temperature Control, we established a third-party logistics warehouse down in Ruakura last year that opened up on the first of October last year. Phil and the team have done an outstanding job building the volume through that new facility. It was a slight drag on our profit last year as we were slowly building volume, but the team have got that to a point that it was break even around July, and now it will add to the profit of Freightways. Demand for it has been exceptional, and the team have done a great job inducting new customers into that facility. Within Information Management, and our first horizon is to keep driving market share gains. In all of our businesses, winning share off the opposition is a key strategy for us. We're a pretty competitive mob. We like to win, we like to take business off the other guy, and that is the key strategy with Information Management. The way we're doing that a little bit differently is we do a great job with digitization of paper, and what that's helping us do is win archives coming into the warehouses. But Horizon Two is that digitization business, and that has grown from really small beginnings, both in Australia and New Zealand, to become a really significant part of that Information Management division. We have done many large-scale projects where paperwork has come in, we digitize it, we lift the data off the paper, we interpret it, and we hand it back to a customer. We pick it up, we process, and we deliver it, and we're making a real name for ourselves with the TIMG brands in both countries. In Waste Renewal, I've harped on a bit about how long it's taken us to get an EPA license in Victoria. Not through our fault, but bureaucrats over there are like bureaucrats anywhere, it seems. But we eventually got that license on the seventh of May and have been operating, processing our own medical waste there, as opposed to having to get a competitor to process it for us. So we now pick up, process, and deliver medical waste in that state, and we have a great opportunity to keep growing there. So in terms of the first horizon, that plant will generate efficiencies, and it will enable us to grow, that medical waste business. The third horizon within Waste Renewal is a really interesting one for us. It's a small part of Freightways' overall business, but what we aim to do there is pick up, process, and deliver hard-to-recycle items, items that otherwise would have gone to landfill. And we now have a whole range of innovative solutions where we pick up packaging material, textiles, e-waste, and we find a way of collecting it, processing it, and then having it go into recycling streams, keeping it out of landfill. There are many thousands of tons of products now that we are picking up through that Shred-X business and keeping away from landfill and having go back to a home as a circular loop product. Really proud of what we're doing in there, and I think it's an opportunity that has great tailwinds in the future. I wanted to give a brief update on ESG. We review materiality around once every five years. We talk to shareholders, customers, suppliers, a whole range of stakeholders, and we seek to determine what's important to them and where we can move the dial. So these four areas here are the key areas that Freightways focus on. You can read more about that in the annual report. I won't do that to death here, but good health and well-being is a really pivotal one for us. We employ or contract over 6,000 people, and making sure they go home happy and healthy every night is really critical for us. So we have a whole raft of initiatives through the businesses, through the brands, through the branches, around improving safety and keeping our people safe each day. Decent work and economic growth. This has been really important for us for the last five years. We've had a real focus on lifting courier pay, making sure our contractors, and we have 2,000 of them across New Zealand and Australia, operate sustainable runs, runs that don't turn over every five minutes because you can't make a buck. The team have done a great job at lifting that courier pay year on year, such that if we look through those New Zealand fleets today with around 1,100 couriers, I think we're advertising for two runs. So that's quite remarkable. That's symptomatic of what we have done to build that pay, build the working relationship with contractors, and make sure that's a real win-win for us, because that is the origin of our business when you go back 60 years. SDG9 is around innovation and infrastructure, and again, you know, there's an awful lot we do here. We run a lot of businesses where we don't have a lot of customer contracts, particularly in transport. It's pretty rare that customers other than the larger ones sign a contract, commit to you for 10 years. You're as good as your last delivery. You're as good as your last customer service experience. And so what's important for us is to keep that churn as low as we can, and we have successfully done that. I think it's the reason the company has been so resilient over this last year. In really tough economic environment, we have kept the vast majority of our customers, and we have won a good deal of new ones, and that has helped make up for an economy that's gone backwards and customer volumes that have gone backwards because of their trade. And so the team have done a great job in making sure that churn is low, but we're attracting new customers through the innovative solutions we provide. In terms of climate action, as Mark mentioned, we re-released our CRD report, so the first one this year. It was no mean feat. It was a hell of a lot of effort for the team to accumulate the data that is required by legislation to go into that report. So they've done an outstanding job there. In there, we talk about the emissions across Scope 1, 2, and 3, and we absolutely have ambition to reduce those emissions. We're mindful of the technology, we're mindful of our contractors investing in vehicles that can do the job. Those vehicles aren't quite there yet, but we monitor them, we trial them, we test them, and we keep an eye out for the vehicle that will do the job, that will carry the weight over the kilometers and for the time you need to operate your run efficiently and effectively, and it will come. It's not quite there yet, but it will come. In terms of trading update, I can barely read those numbers there, so, I'll take them off here. In terms of operating revenue, so this is consolidated across Freightways for the first quarter, unaudited figures: revenue up 7.2%, EBITDA up 11%, EBITA up 8.5%, NPAT up 4.1%. In this environment, I think that's a pretty commendable result. And again, I think as one of our managers often says, "People would love to have our problems." That revenue growth, as I said earlier, really driven by market share and price. So the service we provide enables us to get a bit of price out of our customers, and the market share gains, winning customers off our competitors, is a really important part of propping up that revenue. In the New Zealand economy today, we haven't really seen any green shoots, so we're not up here standing today and saying, "Hey, everything's about to turn around, interest rates have dropped." But we think it'll come, and we certainly don't see it getting any worse. We've had positive improvement in margin across both divisions, and that was a key objective for us in this year. Labor costs this year will be up around 3.5%, and that's a far cry from the previous two years, where tight labor markets, really high minimum wage increases, extra five days' sick leave, extra public holidays, all of those types of things contributed to 10%, 10% labor increases over the previous two years. So we're back to normal. We're back into a normal rhythm, and at 3.5%, we've been able to get a little bit more price from our customers over this period. Corporate costs slightly higher in this quarter, and a lot of that to do with the CRD reporting and the help we have needed to get to where we've got to today. In terms of each division, in Express Package and Business Mail, revenue growth, 6.7%, and really pleasingly, EBITDA and EBITA up 9.9%. So there's evidence of that margin expansion, you know, from 12.4% to 12.7%, that we are seeking through efficiency, through winning volume, through getting the right price. That's a really commendable performance, as I said, in these pretty tough times. Those initiatives have been around efficiency, right-sizing the fleets, making sure that the teams we have are operating at full productivity, they're well-trained, and given that the labor market is a little bit looser, you don't have as much churn in freight sort positions and some of those roles where you can really suffer from productivity if you don't get it right... pricing is up around 5%. And again, I think that's a really good result in just trying to claw back some of those cost increases we've had over the last couple of years. Item count, pretty much flat quarter on quarter, if we exclude the Temu volume that we had for six months last year. And again, same customer volume's down 5%. Market share has really made up that 5% gap. Over in Australia, where I have to say things are a little more rosy, that economy is certainly going at a better rate than we are over here in New Zealand. Allied benefiting from continued growth, both organic and winning new business. We also put in two large sortation systems in Sydney and Victoria, and that's starting to give us benefit as those seasonal volumes grow. Big Chill have delivered revenue and earnings growth, in this quarter, which is great to see. Again, they suffer from customers typically with higher value perishable goods. Think salmon, think high-value dairy products, where the demand is a bit lower from customers, but have done a really good job in growing both transport revenue slightly and, most importantly, 3PL revenue significantly. Within the quarter, our Project Evolve, I talked to you about in terms of billing and pricing, we expensed around NZD 750,000 within that quarter. So I think when you look at that quarter's result, bit of margin expansion and tackling a large project, pretty impressive. In terms of Information Management, revenue growth of 10.6%, EBITDA growth of 19%, and EBITA growth of 21.9%. And again, really good movement in that margin from 12.1% up to 13.3%. In many ways, this is a bit of a return to normal. The reality was that first quarter last year was really tough. Really tough as we established that Victorian facility, but couldn't have the volume flowing through it. So we had the cost of establishing it, having the building, doing the setup, but because of that license, couldn't have the volume flowing through at that time. The volume's now flowing through, and that positive Med-X performance has been a real boon for us. Equally, last year, paper prices fell, so at the start of that economic cycle, we came into the paper that we sell from document destruction services. The prices for that came down. They have been stable this year. The digitalization work that's coming through TIMG, both New Zealand and Australia, is as expected, and it's a good level up on last year. And the only other comment I'd make is that last year in this quarter, we had the tail end of a very large New Zealand government digitalization project, which I can't tell you about, I don't think, except it was involved in counting everyone and what suburbs you're in. And so the tail end of that came in that particular quarter. In terms of outlook, look, the economic climate's clearly still pretty tough here in New Zealand. We expect that the rest of this half will still remain relatively subdued in terms of same customer volumes, but we're hopeful that we get some modest increases in the second half. We're hopeful that as the OCR rates come down, as we talk to customers who are maybe not feeling quite as gloomy about life, that we start to get a little bit of organic growth, hopefully, in the second half of the year. As I said, Australia, certainly more buoyant. They don't have any OCR cuts on prospect prior to Christmas, but again, that economy is going a good level better than ours. Our focus remains on restoring those margins. Our focus remains on lifting those EBITA margins through both divisions through this year and next. It's a real focus for our teams, for their strategies, and the key initiatives that we are rolling out. Really pleased with the investments we made last year. So even though they were a bit of a drag on last year's result, having a big third-party warehouse, which is slowly filling, is a drag on you. Having a medical waste facility that you can't operate until you have that license is a drag. The sortation systems, as you get more volume, you get a benefit from it. But those three investments will pay off for us this year, and I think it was good to do them, it was bold to do them, and I think that time will pay off for us. We still have a very active merger and acquisition pipeline, so we are constantly looking at businesses, both in New Zealand but more often in Australia now, in particular, where that transport market is large, it's really fragmented, and there are a lot of niches to play in. And so the pipeline's good. We're looking for opportunities that are either synergistic or complementary. I'll go back one. So just finally, I'd like to thank the experienced teams of people around the country that, you know, New Zealand Couriers is celebrating 60 years this year. But there's a good number of employees and contractors that have been around and are still in that business, that have done over 40 years service. And again, these days, that's, that's pretty remarkable. It's something to be really proud of. So the teams, not only the people in the room, but the people everywhere from Perth to Sydney, down to Hobart, up in Darwin, and from the far north down to Invercargill in New Zealand, those teams of people are the people that have helped deliver that result this year. I'd also like to thank Mark Rushworth, nine years on the Freightways board. Mark is pragmatic, he's an engineer by trade, he's a problem solver, and he's been a really valuable presence around the Freightways board table over those nine years. So Mark, we thank you, and we'll shout you a rosé tonight. Just finally, there, there's one other member of the Freightways team I'd like to acknowledge, here today, and that's Devon Buckingham. And Devon retires this Christmas after nearly three decades, around three decades in this business. So he's been there around half of that 60-odd years. Devon's one of those characters at Freightways that makes working here a real delight. He has a management style that makes him easy to deal with at all levels of the organization, no matter whether you're a brand-new freight sorter coming in or whether you're a board member sitting around the table upstairs. And those are really valuable commodities. He's run the courier at NZC as general manager for the last six years, and we have a bit of a mantra about how do we move to a better place? How do we shift that legacy? Devon has definitely done that. He's done a great job with the culture, the performance, and the profitability of that business over that period of time. So, shout Devon a sausage roll when you see him later on today. But thank you, mate. You won't be a stranger to the Freightways family. Thank you. Thank you, Mark. Are there any questions, comments, or discussion in relation to the financial statements, presentation, or management of the company? Good morning. My name is John Blundell. We're a shareholder, and we've been that way with my wife for nearly a decade. I have never attended a meeting here before, so if you'll just bear with me for a minute. The reason I haven't been to a meeting is because I have had nothing to add, the reason being that this is one of the best managed, best governed companies on the NZX, and I think we all owe a great thank you to the team, Mark one, Mark two, management, for what they've delivered over long time frames without putting a foot wrong. I've seen Fletcher's foray into Australia nine times. The outcome's always been the same. Air New Zealand bought Ansett. It was insolvent when they bought it. The list goes on and on. It's an equities graveyard, and so I've held off coming to a meeting for a year or two to see how successful Freightways has been in Australia, where I have to say the growth opportunities lie. Because we've been in a year or so, we've had returns, IRRs, in excess of 8%, gross cash flows of over seven, and we've got a company that is growing dividend yields by over 5% for the last nine years, compound, so really, I could go on, but in a way, it's just a question of summing up and saying thank you very much from, I'm sure, many shareholders, for the wonderful performance the board and management have delivered, and I'm sure going forward with the disciplines, the segmentation that you've delivered, the acquisitions, I won't have to speak to you for another decade if I'm still here. Thank you. Thank you, sir. I wish all questions were like that at AGMs. Ma'am? Beryl Plummer. I'm a shareholder and also the NZSA rep at this meeting. Thank you. Yes, you are a very successful company, and we appreciate that. You've alluded to cash flow constraints. Obviously, that's partly the economic environment that we're in. How do you see that going forward in the next year or so? Like Mark Rushworth, I'm an engineer firstly, so I'll get Stephan to answer that. Stephan or Mark? The way I would answer that is we don't see any constraint. We want to keep managing our balance sheet in a very conservative way, so we will keep doing that. But we've never had issues finding cash to fund investments that are accretive, and we believe that will still be the case if we need to. Thank you. Thank you, Beryl. Are there any other questions from the room? Sir. My name's Richard Flower, long-term shareholder. I haven't been to an AGM before, for Freightways. For some reason, I'm not sure why. But also, I'd like to compliment you. It's lovely to come to an AGM where I've seen the, in precise detail, the first three months of the year, how it's going. Most of the discussions about looking forward, I get tired of coming to AGMs in order to hear about this, what's happened in the past, which is in the annual report anyhow. So I would like to congratulate you on that. Thank you, sir. Any further questions from the room? Nicola, are there any online questions? There's just one question from John William. Sorry, is management able to share a timeline for the implementation of the new charging system? I'll get Mark to answer that. So the new billing system, we're rolling out over two years. Number of stages that we will roll through. We expect to get some functionality out of that after the first year, but we expect that we will be on time and on budget within two years. And Matt will make sure that happens for us. ... No, no other questions? No, no other questions from the floor. As there are no further questions, I'll now move to the formal resolutions to be considered at this meeting. As mentioned earlier, all voting on resolutions will be conducted by way of poll. For the online voting, please follow the instructions of the virtual meeting guide that was provided. Again, a reminder that any eligible shareholder or proxy attending the meeting remotely is eligible to ask a question. Please select the Q&A tab on the right-hand side of your screen anytime, then type your question and press Send. The results of the polls will be advised to the stock exchanges later today. Proxies have been appointed for the purpose of this meeting in respect of approximately 73 million ordinary shares. As was indicated on the proxy form, where a proxy discretion has been given to me, I intend to abstain from voting those proxies in relation to my re-election and vote the other proxies in favor of the remaining three resolutions. I also note, as set out on the proxy form, that directors standing for re-election will abstain from voting discretionary proxies in respect of their own appointment. As requested by the Shareholders Association, sorry, the New Zealand Shareholders Association, we will not disclose the voting of proxies received ahead of all shareholders voting on them today. Ordinary Business one, as the first resolution relates to my re-election, I'll vacate the role as chair of this meeting and ask Peter Kean to chair the meeting for the duration of this resolution. I'll now hand over to Peter. Thanks, Mark. As noted by Mark, the first resolution relates to the re-election of Mark Cairns. Mark was appointed as a director of the company in 2021 and is retiring by rotation, offering himself for re-election. The board unanimously recommends that shareholders vote in favor of Mark's re-election. He is considered by the board to be an independent, non-executive director. I would now like to invite Mark to address the meeting. Thank you, Peter. Good morning again, ladies and gentlemen. Back in 2021, I was delighted to be given the opportunity to join the Freightways board. I was subsequently elected chair in 2022, following Mark Verbiest's retirement. You have details of my experience and qualifications in the notice of meeting. I'm a civil engineer by profession and a fellow of Engineering New Zealand. I also hold an undergraduate degree in business studies and a master's degree in management. I'm a chartered fellow of the Institute of Directors. I've previously been a chief executive, 16 years at NZX-listed Port of Tauranga, and prior to that, Toll Owens Limited, so I understand the demands and stresses placed on Mark Troughear in his role of chief decision-maker for his family of 6,000 people employed at Freightways. I'm also currently a director of Auckland Airport and recently retired from Meridian Energy after completing an eleven-year term on Meridian's board. I consider that Freightways is an excellent company with an outstanding senior management team, and that we have a great future. In summary, I'm well-qualified and experienced in the transport and logistics sector, including having significant exposure to capital markets. Most importantly, though, I'm passionate about this company, and I seek your support today to continue in the role. [Foreign language]. Thank you, ladies and gentlemen. Thank you, Mark. Are there any questions or matters for discussion concerning this resolution to re-elect Mark Cairns as a director? Anything online? As there are no questions on this matter from shareholders, I put the resolution to a vote. Please mark your vote. I'll now pass the role of chair of this meeting back to Mark Cairns. Thank you, Peter. Ordinary Business resolution two, the re-election of Director Abby Foote. The second resolution relates to the re-election of Abby. Abby was appointed as a director of the company in 2018 and is retiring by rotation, offering herself for re-election. The board unanimously recommends that shareholders vote in favor of Abby's re-election. She is considered by the board to be an independent, non-executive director. I would like to now invite Abby to address the meeting. Thanks, Mark. [Foreign language]. Good morning. I'd like to offer my greetings also to our shareholders, members of the Freightways team, my fellow board members, and representatives of some of our key stakeholders who've joined us today. I'm seeking your support for my reappointment to the Freightways board for a further term. I've been a member of the board and the chair of the Audit and Risk Committee for six years now, and it's been a privilege to govern the company over that time. Next year will mark 20 years since I took on my first role as a director of a listed company, and during that time, I've built significant experience as a director of predominantly listed entities. My governance experience covers a wide range of areas, including strategic development and implementation, significant transactions, stakeholder engagement, risk management, health and safety, and ESG-related issues. Currently, I am also a director of KMD Brands. During my time on the board, we've seen a great continuation of the Freightways journey, with key aspects being the increased diversification of our portfolio through the acquisitions of Big Chill and Allied, adapting to the COVID operating environment, and more recently, demonstrating the resilience of the business to the challenges of the current economic conditions, where the diversification of our business, along with the team's commitment to strong service and business outcomes, has helped to absorb some of the downward pressure we all experienced. As we continue to look for opportunities for growth, I'm particularly focused in my role as Chair of the Audit and Risk Committee, on ensuring that we're strengthening the core platform on which we're building, making sensible investments in our people, systems, and processes to enable us to grow further, whilst continuing to perform in the way that you would all expect of us. This year, we had a particular focus on building our understanding of our climate-related risks as part of our move to produce our first climate disclosure. I'm committed to continuing to contribute my experience, along with that of my fellow directors, to help Freightways' continued growth. I'm committed to high standards of governance that contribute to long-term value for our shareholders. I'd be grateful for your support today for my reappointment, and very happy to answer any questions you might have. Any questions? Great, thanks. No, no questions or matters for discussion concerning this re-election to re-elect Abby Foote as a director? Nothing online. As there are no further questions on this matter from shareholders, I put the resolution to a vote. Please mark your vote. Ordinary Business, resolution three, the re-election of Fiona Oliver. Fiona was appointed to the, as a director of the company in 2021, and is retiring by rotation, offering herself for re-election. The board unanimously recommends that shareholders vote in favor of Fiona's re-election. She's considered by the board to be an independent, non-executive director. I'd now like to invite Fiona to address the meeting. [Foreign language]. Good morning, everyone. It's always good being last. Not sure who organized that, but I'll find out later. So apologies if I repeat anything that my colleagues have said. But I guess it's a test, isn't it? That we are all on the same page in many ways, so that's a positive for you. I'm delighted also to seek a re-election to the Freightways board, and continue to work with this very committed group of people. At the time I joined the board in 2021, I mentioned that there were many attractions to joining the Freightways team, and principal amongst those were its focus on people and customers. And it's very pleasing to have witnessed, over the last three years, the Freightways team in action, and seeing it fulfill that promise. It does put customers at the center of everything it does, and its people, and by people, I mean employees and our contractors, are looked after. As Mark, our chair, has already commented on, the last few years have been eventful, and unforeseen events have created very stark differences in our operating years. We continue to face really tough economic conditions, and perhaps attributable to the aftermath of COVID, or perhaps it's the geopolitical and macroeconomic factors that we still are facing. This business feels the impact of those early, of course. As well, we've had at home the extreme events with the weather and pretty clearly critical regulatory issues like contractor status. However, this team, notwithstanding these challenges and opportunities, has really impressed me with their determination, shown a high level of agility, adapting to the changing and changed environment, and have always remained future-focused. There's more, of course, that we want to do in our businesses, and there is more, of course, we need to do, and, Abby's already commented on the particular need to tackle the risk to, the health of our climate. But I do believe, we have the strategies in place for now, and a way of working that makes us well-placed to tackle this. Our success has been on treating people fairly, delivering superior levels of service, considering the impact to our stakeholders and their impact on us, and applying rigorous discipline to managing capital. These are all critical building blocks that I believe we need to continue to focus on. In my role as a director, I undertake to continue to bring my commercial, investment, legal, and wide governance experience to bear. I would like to think that I can also benefit the already astute and effective oversight of this company by this board, and I'll ensure that my focus is, which I know is shared by this board and other management team members, on delivering valuable and sustainable returns to you, the shareholders. I would welcome your support of my re-election, and happy to answer any questions you have. Are there any questions from the floor? Nope. No, no questions online, Nicola? Thank you, Fiona. As there are no further questions on this matter from shareholders, I put the resolution to a vote. Please mark your vote. The final resolution, resolution four, relates to consideration for the directors to fix the auditor's remuneration. The present auditors, PricewaterhouseCoopers, will continue in office under the Companies Act 1993. Are there any questions or matters for discussion concerning this resolution? Any online? Okay, as there are no further questions, I put the resolution to a vote. Please mark your vote. Thank you, ladies and gentlemen. That concludes our discussion on the items of business today. After a brief pause, I'll close the voting system. Please ensure that you've cast your vote on all resolutions, and I'll now pause to allow you time to finalize those votes. Okay, voting is now closed. Thank you for voting. Votes will be counted by Computershare, and the results will be advised to the stock exchanges later today. Now, I got into trouble last year that I closed without a last call for questions. So, if I could give last call, if any shareholders wish to raise any questions, comments, or discussion, whether related to the presentations, the annual report, and financial statements, or any other topics concerning the governance and management of the company, or any other matters that may be lawfully considered at the meeting. Any questions from the floor? Nothing online, Nicola? Okay, that brings an end to this year's annual meeting. To wrap up, this has been a solid year for Freightways in a relatively difficult economic environment. We've continued to invest in the business, and I'm confident that we're well-positioned to deliver strong results as the economies in New Zealand and Australia recover. I'd like to now thank my fellow directors, our Chief Executive, Mark, and his management team, who have ably led our 6,000 strong team with an unwavering focus on moving you to a better place. But particularly, I'd like to thank you, our shareholders, for your belief and support of our company. I now declare the meeting closed and invite you to share some refreshments with the board and executive. [Foreign language].