#127 October 2022 ASX Announcement QUBE QUBE HOLDINGS LIMITED ABN 14 149 723 053 Level 27, 45 Clarence Street Sydney NSW 2000 Qube Investor Day Presentation Please find attached the presentation to be delivered today at Qube's Investor Day. FY23 Trading Update and Outlook T: +61 2 9080 1900 F: +61 2 9080 1999 qube.com.au Qube has experienced a strong start to FY23, with continued high volumes and margin improvement across most parts of its business. Underlying revenue, earnings and margins were ahead of Qube's internal expectations at the end of Q1. This was particularly pleasing as it was achieved despite some adverse weather in the period, continued weakness in forestry export volumes from New Zealand, and the ongoing impact from some of the other challenges that affected the FY22 results. Despite the uncertain economic and interest rate environment, Qube remains positive about the remainder of the period and confirms its FY23 full year guidance of underlying NPATA growth relative to FY22 and higher underlying EPSA growth (compared to NPATA growth) due to the full year benefit from the share buyback completed in May 2022. This outlook continues to reflect the expectation of: . • strong growth in underlying revenue and earnings (EBITA) in the Operating Division, with the Logistics & Infrastructure business unit expected to achieve higher earnings growth than the Ports & Bulk business unit; strong growth in underlying EBITDA/EBIT for Patrick Terminals with the NPATA contribution from Patrick Terminals modestly higher than FY22 due to an increased interest expense, mainly resulting from higher base rates. Qube expects continued strong cash distributions from Patrick in FY23; and increased corporate costs and a significant increase in interest expense. This outlook continues to assume no material adverse change to current conditions in Qube's markets or domestic or global economic and/or political conditions, including any deterioration due to COVID-19 that impacts Qube's workforce, customers, markets, or operations. It also assumes that any further extreme weather events, such as those that have impacted the east coast of Australia and parts of New Zealand in 2022, do not materially disrupt the operations of Qube or its customers during the remainder of FY23. Authorised for release by: Paul Digney Managing Director, Qube Holdings Limited Further enquiries: Media: Ben Pratt Director, Corporate Affairs [email protected] +61 419 968 734 Analysts/Investors: Paul Lewis Group Investor Relations [email protected] +61 2 9080 1903#2QUBE SGMY 00008-YA QUBE X6 Qube Newcastle Agri Terminal R3 QUBE QUBE INVESTOR DAY 27TH OCTOBER 2022#3In the spirit of reconciliation, Qube acknowledges the Traditional Custodians of country throughout Australia and their connections to land, sea and community. We pay our respects to their elders past and present and extend that respect to all Aboriginal and Torres Strait Island Peoples here today. QUBE 2#4Disclaimers QUBE The information contained in this Presentation or subsequently provided to the recipient whether orally or in writing by, or on behalf of Qube Holdings Limited (Qube) or any of its directors, officers, employees, agents, representatives and advisers (the Parties) is provided to the recipient on the terms and conditions set out in this notice. The information contained in this Presentation has been furnished by the Parties and other sources deemed reliable, but no assurance can be given by the Parties as to the accuracy or completeness of this information. To the full extent permitted by law: (a) no representation or warranty (express or implied) is given; and (b) no responsibility or liability (including in negligence) is accepted, by the Parties as to the truth, accuracy or completeness of any statement, opinion, forecast, information or other matter (whether express or implied) contained in this Presentation or as to any other matter concerning them. To the full extent permitted by law, no responsibility or liability (including in negligence) is accepted by the Parties: (a) for or in connection with any act or omission, directly or indirectly in reliance upon; and (b) for any cost, expense, loss or other liability, directly or indirectly, arising from, or in connection with, any omission from or defects in, or any failure to correct any information, in this Presentation or any other communication (oral or written) about or concerning them. The delivery of this Presentation does not under any circumstances imply that the affairs or prospects of Qube or any information have been fully or correctly stated in this Presentation or have not changed since the date at which the information is expressed to be applicable. Except as required by law and the ASX listing rules, no responsibility or liability (including in negligence) is assumed by the Parties for updating any such information or to inform the recipient of any new information of which the Parties may become aware. Notwithstanding the above, no condition, warranty or right is excluded if its exclusion would contravene the Competition and Consumer Act 2010 or any other applicable law or cause an exclusion to be void. The provision of this Presentation is not and should not be considered as a recommendation in relation to an investment in Qube or that an investment in Qube is a suitable investment for the recipient. References to 'underlying' information is to non-IFRS financial information prepared in accordance with ASIC Regulatory Guide 230 (Disclosing non-IFRS financial information) issued in December 2011. Non-IFRS financial information has not been subject to audit or review. 3#5Executive Team Presenting Today PAUL DIGNEY Managing Director MARK WRATTEN PAUL LEWIS Chief Financial Officer Group Investor Relations JOHN DIGNEY Director Logistics & Infrastructure MICHAEL SOUSA Director Ports TODD EMMERT Director Bulk QUBE 4#6Qube Team Present Today SHANE COLLINS Director Strategy & Development EMILY LINK Director People, Culture & Safety BELINDA FLYNN General Manager Safety, Health & Sustainability WILLIAM HARA Company Secretary & General Counsel BEN PRATT Director Corporate Affairs QUBE 5 LO#7Agenda WELCOME QUBE 9:20am Paul Lewis Investor Relations 9:30am - Session 1 Introduction to Qube Paul Digney Managing Director 10:15am Session 2 - Qube Logistics & Infrastructure (incl. Q&A) John Digney Director - Logistics & Infrastructure 11:00am Session 3 - Qube Ports & Bulk Introduction Paul Digney Managing Director 11:10am Session 4 Qube Ports (incl. Q&A) Michael Sousa Director Ports 11:50am BREAK 12:05pm Session 5 - Qube Bulk (incl. Q&A) Todd Emmert Director Bulk 12:45pm Session 6 - Patrick Terminals (incl. Q&A) Paul Digney 1:15pm LUNCH 1:45pm Session 7 - Group Financials (incl. Q&A) Mark Wratten Chief Financial Officer 2:15pm Session 8 - Outlook Paul Digney Managing Director 2:30pm Q&A Session with Presenters 3:00pm CLOSING - Discussions and refreshments CO 6#8Session 1 Introduction to Qube QUBE Qube North Dynon Steel Terminal, Melbourne#9Qube's Vision & Strategy EE B කය NO BOTTOM LIFTING IS ALLOWED MATYUFT ONLY QUBE ACTREND KALMAR Qube Port Hedland (Rotabox)#10Qube's Vision & Strategy QUBE FOCUSSED STRATEGY THAT DELIVERS A SUSTAINABLE COMPETITIVE ADVANTAGE To be the leading provider of integrated logistics solutions focussed on import, export and select domestic supply chains in Australia, New Zealand and select international locations. OPERATIONAL FOCUS Build scale, expand and enhance existing capabilities Diversify by market, customer, product/service and geography with ongoing investment in assets, key infrastructure, technology and people FINANCIAL FOCUS Maintain strong balance sheet with high liquidity and diversity of funding sources to support continued investment through economic cycles Ensure lean cost structure with a high degree of variability in the cost base Drive innovation at all levels within the business with strong focus on safety and culture Attract and retain highly experienced, management team and workforce Ensure that Qube remains highly diversified and agile to mitigate against any economic downturn that may impact any of Qube's key markets Ongoing focus on risk identification and mitigation, including protections against inflationary and recessionary factors Plan for and delivering a decarbonisation road map Focus on delivering positive customer and shareholder outcomes Drive financial accountability at all levels within the business ENSURE EVERYBODY ENGAGED WITH QUBE THRIVES. 6#1145616 83 BMOU 5324350 Qube's History & Evolution QUBE LOGISTICS 2.9 园 pag-Lloyd QUBE Qube Victoria Dock m SC LI#12The History & Evolution of Qube (2007-2011) - Pre-Qube Brand A DELIBERATE STRATEGY TO SECURE STRATEGIC LOCATIONS AND EXPAND MANAGEMENT, SERVICE, PRODUCT AND GEOGRAPHIC CAPABILITIES ACQUISITION BY CALENDAR YEAR 2008 2009 2010 QUBE 2011 2007 P&O Trans Australia P&O *Consortium acquired: 50% in P&O Trans Australia 75% in P&O Automotive . and General • 24.5% in AAT 50% in NSS Secured initial 30% interest in BAGULEY SEA CARGO LOGISTICS P&O PRIXCAR SERVICES Acquired Baguley Containers & Baguley Containers Hire and Sales Consortium increased its ownership of P&O Automotive General to 100% Moorebank Industrial Property Trust Acquired Sea Cargo Logistics SOUTH SPUR RAIL SERVICES CFS QAAT Australian Amalgamated Terminals Acquired a further 25.5% in AAT • Acquired South Spur Rail Consortium acquired a 50% interest in PrixCar • Acquired CFS (Continental Freight Services) CTRONCS Carrying Service Acquired the majority remaining interest in P&O Trans Australia • Acquired Troncs Transport Solutions Acquired Mackenzie Intermodal KEY MILESTONES AND BRAND DEVELOPMENT The initial acquisitions provided a platform in container logistics, automotive & general stevedoring and global forwarding services (weighted toward imports) Focused on smaller bolt-on acquisitions to expand capabilities and build scale Secured strategic (port) assets / sites Targeted and won key contracts that drove additional scale Expanded port logistics footprint in Fremantle, Brisbane and Adelaide . Established the early foundations to build an energy business focused on oil & gas Established the early foundations to build a rail business focused on containers Expansion of capabilities in the automotive market ⚫ Utah Point iron ore multi-user export facility is developed and the foundation for Qube Bulk is laid Secured initial investment in Moorebank (30% interest) Qube restructure at the end of the 5-year period (establishing the Qube brand as a major ASX listed logistics operating company) 11#13The History & Evolution of Qube (2012-2016) - Qube Brand Development A DELIBERATE STRATEGY TO SECURE STRATEGIC LOCATIONS AND EXPAND MANAGEMENT, SERVICE, PRODUCT AND GEOGRAPHIC CAPABILITIES 2013 ACQUISITION BY CALENDAR YEAR 2014 2015 QUBE 2016 • • 2012 GIACCI WESTGATE poin Acquired Giacci bulk haulage P&O Automotive and General rebranded to Qube Ports & Bulk and P&O Trans Australia rebranded to Qube Logistics Acquired Westgate Ports assets Acquired Macarthur Intermodal Shipping Terminal Pty Ltd (MIST) Acquired an additional 36.7% in Moorebank Industrial Property Trust from Stockland to move to a controlling interest mi CRTgroup WBH WALMSLEY BULK HAULAGE ISO LIMITED PATRICK QAAT Australian Amalgamated Terminals • Acquired IM Logistics Acquired OZ Trans, OZ Trans assets and Chameleon Resources • Acquired ISO Limited • Acquired Patrick (50%) Acquired CRT Acquired Walmsley Bulk Transport Acquired Beaumont Transport Acquired remaining 33.3% from Aurizon in Moorebank Industrial Property Trust Acquired remaining 50% stake in AAT KEY MILESTONES AND BRAND DEVELOPMENT • Established the Qube brand with separate business brands within key markets and activities . Qube Forestry commences with the acquisition of ISO in New Zealand . Qube Logistics expands footprint in Melbourne and Sydney • Qube Energy wins its first major customer (Chevron) • Qube Logistics expands intermodal capability with multi metro rail terminals • Qube Specialised Logistics is established with the acquisition of CRT and IML Qube Rail evolves from a container business to include bulk rail services Qube Bulk expands its footprint across Western Australia Qube Bulk rolls out the Rotabox solution for its first customer (Sandfire) . Qube acquires 50% of Patrick (with a Brookfield led consortium acquiring the other 50%) • Qube moves to 100% ownership of Moorebank (buying out Stockland & Aurizon) Qube moves to 100% ownership of AAT 12#14- The History & Evolution of Qube (2017-2022) – Qube Expansion A DELIBERATE STRATEGY TO SECURE STRATEGIC LOCATIONS AND EXPAND MANAGEMENT, SERVICE, PRODUCT AND GEOGRAPHIC CAPABILITIES ACQUISITION BY CALENDAR YEAR 2017 2018 2019 2020 2021 LES WALKDEN ENTERPRISES PTY. LTD. QUBE 2022 M MOOREBANK LOGISTICS PARK MCS MARITIME CONTAINER SERVICES FOR Chalmers Financial close reached with the Moorebank Intermodal Company (MIC) for the Moorebank project Development commences at Acquired Maritime Container Services Moorebank Logistics Park • Acquired LCR Acquired Chalmers NFA A DIVISION OF ISO LIMITED QUATTRO PORTS Newcastle AGRI Terminal NAT Acquired WWL & PHL TRUE BLUE CONTAINERS • Acquired Les Walkden A AGRIGRAIN • Acquired Bluewood • Acquired MDG • Acquired balance of Quattro • Acquired NFA Acquired Agri Grain Acquired Newcastle Agri Terminal (NAT) Acquired AST Harvestco Safety by Choice. Not by Chance Acquired True Blue Containers • Acquired Harvestco KEY MILESTONES AND BRAND DEVELOPMENT • • Qube Agri expands significantly with upcountry storage and the acquisitions of NAT and the buyout of the Quattro unitholders . • Qube Energy expands further with major customer wins and supply base developments in Australia and expansion into South East Asia with the BOMC development • Qube Logistics continues to expand its footprint across eastern Australia by acquisition and organic development • Qube Bulk expands further on its footprint in Esperance, Albany and Whyalla Qube Forestry develops an Australian footprint in both export and domestic markets Qube Forestry (ISO NZ) rolls out world first technology for log handling solutions Qube Moorebank commences construction and leasing activities at the start of the period, and successfully monetises the property and warehouse assets at the end of the period with Qube retaining full ownership of the IMEX rail terminal and majority ownership of the Interstate rail terminal at Moorebank Qube Renewables commences off the back of the LCR acquisition as the decarbonisation era begins in Australia 13#15Brands in Qube Today QUBE OPERATES A RANGE OF DIVERSIFIED BRANDS SERVICING A BROAD MARKET QUBE Joint Ventures Operating Division Qube Logistics & Infrastructure Qube Ports & Bulk QUBE QUBE QUBE LOGISTICS RAIL AGRI QUBE QUBE GLOBAL QUBE CONTAINERS SPECIALISED LOGISTICS QUBE INTERMODAL Newcastle AGRI Terminal NAT QUATTRO PORTS AAT Australian Amalgamated Terminals *NAT and Quattro will transition to the Qube brand QUBE QUBE QUBE PORTS QUBE GOVERNMENT SERVICES ENERGY FORESTRY PATRICK 50% BOMC BINTAN OFFSHORE MARINE CENTRE 54% PRIXCAR QUBE QUBE 50% SERVICES BULK HEAVY LIFT ISO LIMITED QUBE RENEWABLES LOR *LCR is transitioning into Qube Heavy Lift and Qube Renewables NSS NO SUBSTITUTE FOR SAFETY 50% 49% INTERMODAL GROUP 14#16Organisational Structure BROAD SCOPE INTEGRATED LOGISTICS SOLUTIONS Operating Division Qube Logistics & Infrastructure Offers integrated solutions suite covering multiple aspects of the supply chain with a focus on containerised import/export cargo & domestic freight Operates nationally across Australia including in all capital city ports with road and rail logistics Expanding strategic footprint in inland metropolitan & country regional areas with connections to ports Providing storage, handling & export services to the agri sector Includes AAT, a multi-user facility provider to stevedores & focused on vehicle imports Includes Moorebank Terminals which comprise the IMEX & Interstate rail terminals • • • Qube Ports & Bulk Provides broad range of logistics services for the import & export of mainly non-containerised freight General stevedoring of bulk & break bulk products including vehicles Forestry export supply chain services for logs, woodchip & domestic timber Mining & bulk commodities export supply chain services Government services Energy logistics services including oil, gas & renewables Strategic port facility locations across Australia Operations in Australia, New Zealand & South East Asia Investments in NSS (50%) & Prixcar (50%) for logistics services to mining & automotive industries Patrick (50%) Patrick Terminals QUBE Qube owns a 50% interest in Patrick, one of two major established national operators providing container stevedoring services in the Australian market Holds long term lease concessions for & operates shipping container terminals in the four largest container ports in Australia; Sydney - Port Botany, Brisbane Fisherman Island, Melbourne, Fremantle Equipped with largest ship-to-shore cranes in Australia with two of the terminals using automated straddle technology Complements Qube's other logistics activities Other 50% owned by Brookfield & its managed funds 15#17Video: This is Qube INTEGRATED LOGISTICS SERVICES ACROSS AUSTRALIA, NEW ZEALAND AND SOUTHEAST ASIA QUBE rotabox QUBE 58 QUB E QUBE PORTS & BULK QUBE 16#18Qube's Workforce and Geographic Footprint STRATEGY IS UNDERPINNED BY A LARGE, DEDICATED WORKFORCE AND AN UNRIVALLED GEOGRAPHIC REACH Ports Bulk Logistics & Infrastructure Patrick MORE THAN 160 LOCATIONS OVER شه 9,500 EMPLOYEES QUBE All figures include Patrick Terminals, but not other JV's APPROX. 2,400 CUSTOMERS of which 1,650 are contracted 17#19Qube's Key Infrastructure STRATEGY IS UNDERPINNED BY STRATEGIC LOCATIONS AND INFRASTRUCTURE TOTAL OPERATIONAL AREA* 1,038 Ha RAIL TERMINALS* 19 PORT OPERATIONS* 70 QUBE TOTAL TONNES THROUGHPUT* 270 M TONNES BULK STORAGE > 25 Ha * Including Patrick Terminals, but not other JV's C コ LU C C 100 ש QUBE CONTAINER PARKS > 150 Ha QUBE WAREHOUSE > 60 Ha EXPORT TERMINAL GRAIN THROUGHPUT 2.6M TONNES PRIOR YEAR HARVEST GRAIN THROUGHPUT 700K TONNES UP COUNTRY 18#20Qube's Key Assets STRATEGY IS UNDERPINNED BY QUALITY & QUANTITY OF EQUIPMENT & SYSTEMS 866 LIFTING EQUIPMENT STRADDLES QUBE QUBE LOCOMOTIVES 81 ou-- quee quee CONTAINERS 8,000 134 WAGONS 1,687 902 Lou---jou-- off QU PRIME MOVERS 1,336 TRAILERS 4,543 * Including Patrick Terminals, but not other JV's 129 MOBILE CRANES & PORT CRANES OTHER FLEET 537 YELLOW FLEET 19#21Qube 2022+ STRONG PORTFOLIO OF INFRASTRUCTURE, ASSETS AND STRATEGIC LOCATIONS 180 QUBE M . QUBE VEHICLE HAMBURG QUBE The business has built a very strong foundation since inception There remains a large number of options to grow The next 5-years is set up to be the most exciting in Qube's evolution FLEET MONITORING CENT DUSE QUBE QUBE 口 AAL MEL 20 20#22Key Markets & Growth Drivers SMOKI 3CH AAL QUBE 3/28 3/15 3CH AAT Terminal – Fisherman Island, Brisbane -#23Key Markets and Integrated Services Offered DIVERSIFIED ACROSS MARKETS, PRODUCTS, CUSTOMERS AND GEOGRAPHIES KEY MARKETS QUBE Containers QUBE Import/export 000 Agriculture GODD Automotive & general stevedoring Forestry Project cargo Resources Energy 00000000000 KEY PRODUCTS MAIN ACTIVITIES GROWTH DRIVERS Existing - base QUBE · Customer volume . Product demand Existing market share - . Organic market share • Numerous key products • Numerous activities • . See next 4-slides • See next 4-slides • Growth capex . Infrastructure investment . Acquisition New markets • Organic . Acquisition · Customer 22 22#24Key Markets and Integrated Services Offered DRIVING CONTAINER-BASED LOGISTICS FOR A BROAD RANGE OF PRODUCTS KEY MARKETS KEY PRODUCTS MAIN ACTIVITIES QUBE GROWTH DRIVERS / MARKET DYNAMICS . Consumer goods - retail • Grocery products quee • Polymers quee quee • Meat Minerals • Road transport . • Rail transport . Warehousing . • CONTAINERS Automotive parts . Import/export Paper products Solar panels • Food manufacturing • Equipment / machinery. Grain ⚫ Dairy • Container storage (full & empty containers) Rail terminal • Freight forwarding . • Customs & quarantine • Container (hire / sales/repair) . • Container stevedoring (Patrick) . • Container pack / unpack . GROWTH DRIVERS Existing - base • - Existing market share • New products / services MARKET DYNAMICS • Highly fragmented market (ex stevedoring) with key trends supportive of market share growth including: . • demand for more environmentally friendly equipment/service increasing safety standards requiring capacity to support both a "just in time" and a "just in case" environment ⚫ the capacity and capability to provide integrated services that deliver transparency over the entire supply chain 23#25Key Markets and Integrated Services Offered MARKET LED LOGISTICS SOLUTIONS FOR AGRICULTURE AND AUTOMOTIVE IMPORT MARKETS KEY MARKETS KEY PRODUCTS MAIN ACTIVITIES QUBE GROWTH DRIVERS / MARKET DYNAMICS GROWTH DRIVERS CCC AGRICULTURE • Grain • Canola • Sorghum • Legumes • Rice • Cottonseed • Storage • Handling • Rail transport • • Road transport Stevedoring • Existing - base • Existing market share • New products / services MARKET DYNAMICS • Qube acknowledges the cyclical nature of agri however Qube is well placed to deal with the volatility • Some ability to redeploy rail equipment and labour to other activities across the group in a drought GROWTH DRIVERS € · Motor vehicles . • Ro Ro vehicles • AUTOMOTIVE & GENERAL STEVEDORING • Farming equipment • Steel • Fertiliser . Clinker Infrastructure ⚫ Bulk stevedoring • • General stevedoring Processing and delivery Bulk storage Laydown storage • Existing - base • Existing market share • New products / services MARKET DYNAMICS Above GDP growth anticipated in some products 24#26Key Markets and Integrated Services Offered MULTIPLE OPPORTUNITIES TO EXPAND ACROSS SUPPLY CHAINS KEY MARKETS KEY PRODUCTS MAIN ACTIVITIES GROWTH DRIVERS / MARKET DYNAMICS GROWTH DRIVERS . FORESTRY PROJECT CARGO • • Woodchip harvesting • Existing - base • Woodchip exports • Existing market share Export logs (NZ) • New products/services Domestic timber • • Log transport Export logs (Aust) Domestic timber (Aust) Woodchip Log storage ⚫ Log stevedoring • Log marshalling Wind farms • Stevedoring Solar Infrastructure Prefabricated steel Infrastructure for storage • Transport services Mobile crane services • QUBE MARKET DYNAMICS • • Export logs (NZ) largely driven by China housing construction growth Export logs (Australia) currently impacted by Chinese trade sanctions however new markets are emerging (India) Domestic timber is largely driven by domestic residential & commercial construction activity Woodchip growth is largely driven by overseas paper manufacturers (China and Japan) GROWTH DRIVERS • • Existing - base Existing market share - New products/services MARKET DYNAMICS • . Major new projects that require significant imported equipment (more ad-hoc in nature) For a number of projects there is a large opportunity to provide ongoing logistics services to support the long term operational and maintenance requirements Wind farm (construction) import projects both onshore and offshore have a strong pipeline (10-years+) 25#27Key Markets and Integrated Services Offered CONTINUED OPPORTUNITY TO EXPAND ENERGY AND RESOURCE RELATED OPERATIONS KEY MARKETS KEY PRODUCTS MAIN ACTIVITIES • Supply base management GROWTH DRIVERS / MARKET DYNAMICS • GROWTH DRIVERS Existing - base • - Existing market share • Gas • Transport of equipment • ENERGY • Oil Freight management • Rig stacking • Renewables • Spooling • Laydown storage QUBE • New products / services MARKET DYNAMICS • • Growth is a function of exploration and production activities of customer base High energy price environment is supportive of increased activity Qube is working with global energy companies to provide services to assist with energy transition and renewable initiatives such as carbon capture, hydrogen production etc. GROWTH DRIVERS • Existing - base • • Copper Stockpile management • Mine services · Nickel Road transport • - Existing market share . • Lithium • Off-road transport New products / services RESOURCES • Rail transport • Lead Warehousing and storage • ● Mineral sands • Stevedoring MARKET DYNAMICS Fairly stable with growth attributable to new or expanded mines, or end of mine life • Iron ore • Rotabox • Strong opportunities across lithium, graphite, lead, cobalt and nickel 26#28Qube Growth Drivers COMBINING MULTIPLE VOLUME DRIVERS WITH DIVERSIFIED VALUE DRIVERS MULTIPLE VOLUME DRIVERS + DIVERSIFIED VALUE DRIVERS || QUBE SUSTAINABLE LONG-TERM GROWTH GROWTH EXISTING - BASE GDP GROWTH Grow with the economy GROWTH OF OUR CUSTOMERS Grow with the growth of our customers product EXISTING - MARKET SHARE MULTI PURPOSE INFRASTRUCTURE Port facilities, logistics hubs etc GROW MARKET SHARE Win new customers ACQUISITIONS Example: NAT Existing and new markets and services NEW EXPAND SERVICE OFFERING Provide additional services to existing customers NEW MARKETS/ NEW PRODUCTS / ACQUISITION Last 15-year track record adding new markets eg energy, forestry, rail, resources, agri GROWTH CAPEX Example: BlueScope Rail Supporting new major contract wins INFRASTRUCTURE CAPEX Example: Utah Point, Container Logistics, Port Infrastructure Key infrastructure with long-term earning profiles MULTI PURPOSE OPERATING UNITS Example: Road transport and rail IMPROVE OPERATIONAL PRODUCTIVITY Processes, assets, systems, people LEVERAGE OVERHEADS Efficient OH base that support a growing business ENHANCED VALUE Pricing REVENUE = GDP+ MARGIN GROWTH ROACE = 10%+ EPSA GROWTH DIVIDEND GROWTH 27#29Qube Integrated Supply Chain LARGE DIVERSE CUSTOMER BASE Qube delivers integrated container logistics solutions (import/export) for many customers across a number of markets Video: The Container Journey PATRICK TERMINALS RAIL SHUTTLE K9-402 COSCO COM HAM CMM COM 111 RS.05 DOEL ECO efficient KALMAR ECO RS 05 SC CONTAINER UNPACK EMPTY CONTAINER PARKS REGIONAL RAIL IMPORT SUPPLY CHAIN HAMBURG WESTGA QUBE OUGE JUBE QUBE Sin REGIONAL CONTAINER PACKING EXPORT SUPPLY CHAIN REGIONAL RAIL - PATRICK TERMINALS 28 1#30Qube Integrated Supply Chain ONE CUSTOMER ACROSS QUBE BUSINESS UNITS Qube delivers an integrated logistics solution for a customer involving all Qube's business units Video: The Qube Offering AAL AAL AAT QUBE PORTS QUBE RENEWABLES QUBE HEAVY LIFT QUBE LOGISTICS QUBE RENEWABLES QUBE QUBE HEAVY LIFT 29#31Why Qube? 6521 G521 QUBE D G521 QUBE QUBE Qube North Dynon Steel Terminal, Melbourne QUBE#32Why Qube? A PLAN TO THRIVE QUBE VISION OUR AMBITION STRATEGY OUR FOCUS PURPOSE WHY WE GET OUT OF BED To be the leading provider of integrated logistics solutions focussed on import, export and select domestic supply chains in Australia, New Zealand and select international locations. Be number one at what we do with a clear operational and financial focus. Helping our customers, communities and industries to thrive Our people to thrive Our customers to thrive Our planet to thrive Our stakeholders and stakeholders to thrive Our business to thrive PRIORITIES WHAT SUPPORTS ACHIEVING OUR PURPOSE Safety We believe our team should go home unharmed Wellbeing We believe all deserve to be their best self Planet We believe in supporting the planet that supports us all Opportunity We believe in opportunities for our team and customers Performance We strive for success for all VALUES WHAT MATTERS TO US PERSONALITY WHO WE ARE PROMISE WHAT WE STAND FOR Integrity Assured Reliability Can-do What matters to you matters to us Inclusion Curious thrive The stuff that matters 31#33Why Choose Qube? KEY STRENGTHS THAT HAVE ESTABLISHED QUBE AS A MARKET LEADER DO CYBER SECURITY GOVERNANCE SYSTEMS GROUP EXPERTISE оп QUBE II II QUBE SUPPLY CHAIN MANAGEMENT SYSTEMS CUSTOMISED CONNECTED SOFTWARE MODAL SHIFT II || OPERATING SYSTEMS INNOVATION DRIVEN II II ୦୦୦ I I I I I I I I I I I I I COMMUNITY ENVIRONMENTAL FOCUS EQUIPMENT POOL FINANCIAL CAPABILITY STRATEGIC ASSETS SUPPLY CHAIN MANAGEMENT || I II OPERATIONAL EXPERIENCE PEOPLE I I I I II II Do I I II || I I I I II SAFETY SYSTEMS SAFETY COMMITMENT WELL ESTABLISHED NETWORK ROBUST BUSINESS STRATEGIC LOCATIONS CUSTOMER SERVICE RELATIONSHIPS I 32#34Session 2 - Qube Logistics & Infrastructure John Digney - Director 201 QUBE QUBE QL001 and QL012 hauling grain wagons at Bredalbane NSW (photo courtesy of Peter Clark, Rail Digest)#35Qube Logistics & Infrastructure Overview LEADING INTEGRATED LOGISTICS SERVICES OVER 1,250 CUSTOMERS Logistics QUBE 43 LOCATIONS OVER 2,550 EMPLOYEES RAIL TONNES HAULED FY22 5,219,228 QUBE PORT SHUTTLE SYDNEY VOLUME FY22 400,000 TEU QUBE WAREHOUSING FOOTPRINT CY22 60 Ha QUBE ouse CONTAINER THROUGHPUT Quee ouse Jou-- AVERAGE PA 2,000,000 TEU 000 EXPORT TERMINAL GRAIN THROUGHPUT 2.6M TONNES PRIOR YEAR HARVEST 34#36Suite of Customer Services MARKET LEADING RANGE OF LOGISTICS SERVICES OO 194-4 1-4--1 Lou--] DOI LOD QUBE BAGGING SERVICES PROCUREMENT GLOBAL FORWARDING CONTAINER MANAGEMENT CONTAINER TRANSPORT AGRI STORAGE & HANDLING PALLETISED TRANSPORT AQIS SERVICES 1-4--1 QUBE DODO QUBE INTERMODAL TERMINALS CONTAINER RAIL EMPTY CONTAINER PORT ASSETS PARK AGRI EXPORT BULK RAIL WAREHOUSING DOMESTIC FORWARDING 1-4-- DUBE DUBE II 1-4--1 CONTAINER PROJECT CARGO HIRE & SALES STORAGE CONTAINER MODIFICATIONS FULL CONTAINER STORAGE TERMINAL SERVICES SPECIALISED TRANSPORT RAIL OPERATING SERVICES FREIGHT STATIONS (FAK) 35#37Why Choose Qube? KEY STRENGTHS THAT HAVE ESTABLISHED QUBE AS A MARKET LEADER DO CYBER SECURITY GOVERNANCE SYSTEMS GROUP EXPERTISE оп QUBE II QUBE SUPPLY CHAIN MANAGEMENT SYSTEMS CUSTOMISED CONNECTED SOFTWARE MODAL SHIFT OPERATING SYSTEMS INNOVATION DRIVEN II II ୦୦୦ I I I I I I I I I I I I I COMMUNITY ENVIRONMENTAL FOCUS EQUIPMENT POOL FINANCIAL CAPABILITY STRATEGIC ASSETS SUPPLY CHAIN MANAGEMENT || I II OPERATIONAL EXPERIENCE PEOPLE I I I I II II Do I I II || I I I I II SAFETY SYSTEMS SAFETY COMMITMENT WELL ESTABLISHED NETWORK ROBUST BUSINESS STRATEGIC LOCATIONS CUSTOMER SERVICE RELATIONSHIPS I 36#38Case Study: Port Strategic Assets OPTIMISING OUR LOCATIONS Port Logistics: Fisherman Island . • Securing long-term position over strategic logistics assets ensures facilities can support strategic investments Co-locating Qube's business units at a single location creates opportunities for Qube and its customers • Multi-service / multi-customer/ connected to the port precinct 2012 AAT (25%) 2022 PRIXCAR AAT QUBE LOGISTICS Qube's scale, breadth of services and PRIXCAR QUBE PORTS WAREHOUSES QUBE RENEWABLES operations, and strategic sites across Australia and New Zealand support multiple customers and a suite of services QUBE LOGISTICS PROJECTS QUBE LOGISTICS FCL & WAREHOUSING QUBE LOGISTICS QUBE LOGISTICS WAREHOUSING & STORAGE QUBE LOGISTICS EMPTY PARK QUBE LOGISTICS EXPORT SHEDS PATRICK TERMINALS Future Port Development 37#39Growing Rail Services EXPANDING RAIL CAPABILITY Qube secured one of the largest logistics contracts in Australia with BlueScope and rail management services for Glencore in far north Queensland. Video: Integrated rail services QUBE" AN N PRL 206 QUBE 38#40Showcasing the Paddock to Port Supply Chain AN UNPRECEDENTED AGRI EXPORT SERVICE OFFERING QUBE Qube Agri provides an unprecedented export supply chain that has enabled exporters/traders to ship greater tonnes. Video: Supply Chain Qube Agri CUBE JBG BE DUBE OUDE QUBE 000 OOOO REGIONAL STORAGE & HANDLING RAIL HAULAGE BULK EXPORT TERMINAL ACCUMALATION EXPORT GRAIN 39#41Current Growth Pipeline - Logistics SHORT TO MEDIUM TERM OUTLOOK IMPORT Food Products Solar Panels Equipment/ Machinery Automotive (Parts) QUBE Low Growth Medium Growth High Low Medium EXPORT Growth Growth Growth High Growth Low EXPORT Growth Medium Growth High Growth Meat Copper Metals Dairy Paper/Packaging Rice Mineral Sands Cotton Paper Products Grains Hygiene Products Polymers Consumer Goods (Retail) Paper Products Hygiene Products Wine Hay This slide provides a snapshot of the current growth outlook for Logistics & Infrastructure by product recognising the opportunities currently under consideration in the pipeline including • Existing Customer Volume Outlook Existing Customer New Business Opportunity New Business Opportunities / and Tenders Polymers . Potential Acquisitions 40#42Session 2 Q & A LL BEL NOR FLIEBIE 550 LIEBHERR QAAT AAT INCH QUBE AAT Terminal - Fisherman Island, Brisbane#43Session 3 Qube Ports & Bulk Introduction Paul Digney - Managing Director QUBE Qube Energy warehouses, Darwin#44Qube Ports & Bulk Locations STRATEGY IS UNDERPINNED BY A LARGE, DEDICATED WORKFORCE AND AN UNRIVALLED GEOGRAPHIC REACH Ports • General stevedoring • Energy (oil & gas) • Forestry Bulk • Resources • Renewables AROUND 120 LOCATIONS OVER 4,300 EMPLOYEES QUBE OVER 900 CUSTOMERS 43#45Qube Ports & Bulk Overview LEADING INTEGRATED LOGISTICS SERVICES 10 QUBE BULK STORAGE >25 Ha TONNES HANDLED 136 M PA REACH STACKERS 317 SMALL YELLOW FLEET 268 FORKLIFTS PRIME MOVERS QUBE TRAILERS 760 2,639 97 MOBILE CRANES 220 QUBE Jquee quse CONTAINERS BIG YELLOW FLEET 3,229 44#46Ports & Bulk Key Services Provided to Customers MARKET LEADING RANGE OF LOGISTICS SERVICES VESSEL AGENCY DE-BAGGING AUTOMOTIVE LOGISTICS SERVICES MARSHALLING BE C po HARVESTING 194--1 CONTAINER HANDLING & STORAGE CONTAINER HIRE & SALES DAR 00 QUDE 00 XXX QUBE PROCUREMENT STEVEDORING " " 11 11 WAREHOUSING BULK LIQUIDS OFFSHORE SERVICING PROJECT CARGO ON SHORE - RIG & INFIELD INFIELD CHIPPING STORE GOODS TERMINAL SERVICES EXPORT FIBRES QUBE DANGEROUS GOODS TRANSPORT GENERAL CARGO RAIL SERVICES ROTABOX REVERSE LOGISTICS FREIGHT MANAGEMENT SUPPLY BASE MANAGEMENT BULK STORAGE INFIELD LOGISTICS QUDE TRANSPORT FORESTRY QUEE 10000 O O OUSE GOVERNMENT LOGISTICS SERVICES ON ROAD TRANSPORT OFF ROAD TRANSPORT FUEL TRANSPORT DOMESTIC FORESTRY QUARANTINE SERVICES VESSEL CHARTERING STOCKPILE MANAGEMENT 45#47Session 4 - Qube Ports Michael Sousa Director - WISDOM LINE QUBE Qube operations, Port of Portland#48Suite of Customer Services MARKET LEADING RANGE OF LOGISTICS SERVICES E AUTOMOTIVE LOGISTICS SERVICES VESSEL AGENCY QUBE BREAK BULK SERVICES QUBE 194-4 11 QUBE QUBE CONTAINER HANDLING ROAD TRANSPORT STEVEDORING VESSEL CHARTERING 00 FREIGHT MANAGEMENT INFIELD CHIPPING SUPPLY BASE MANAGEMENT GOODS STORAGE ON SHORE - RIG & INFIELD OFFSHORE SERVICING BULK LIQUIDS D PROCUREMENT GOVERNMENT LOGISTICS SERVICES CONTAINER MARSHALLING MANAGEMENT BULK STORAGE DOMESTIC FORESTRY QUARANTINE SERVICES 47#49Why Choose Qube? KEY STRENGTHS THAT HAVE ESTABLISHED QUBE AS A MARKET LEADER DO CYBER SECURITY GOVERNANCE SYSTEMS GROUP EXPERTISE оп QUBE II QUBE SUPPLY CHAIN MANAGEMENT SYSTEMS CUSTOMISED CONNECTED SOFTWARE MODAL SHIFT OPERATING SYSTEMS INNOVATION DRIVEN II II ୦୦୦ I I I I I I I I I I I I I COMMUNITY ENVIRONMENTAL FOCUS EQUIPMENT POOL FINANCIAL CAPABILITY STRATEGIC ASSETS SUPPLY CHAIN || I MANAGEMENT II II OPERATIONAL EXPERIENCE PEOPLE I I I I I المرأ II Do I I I I I SAFETY SYSTEMS SAFETY COMMITMENT WELL ESTABLISHED NETWORK ROBUST BUSINESS STRATEGIC LOCATIONS CUSTOMER SERVICE RELATIONSHIPS I 48#50Case Study: Qube Energy QUBE A BROAD RANGE OF SERVICES TO ASSIST OUR CUSTOMERS WITH THE ENERGY TRANSITION The growth of Qube Energy supply chain from acquiring CFS (Melbourne only) in 2010 to the national footprint in place today Dampier Onslow BOMC Prelude Broome Perth/Fremantle Darwin Port Moresby Gladstone Miles Chinchilla Brisbane Portland Melbourne Geelong Barry's Beach 49 49#51Case Study: Qube Energy THE LEADING SERVICE PROVIDER IN THE OIL & GAS SECTOR 75,550 2012 16,250 22,350 2022 1,167,464 37,597 1,856,950 WORKED HOURS CONTAINERS HANDLED KM TRAVELLED WORKED HOURS CONTAINERS HANDLED KM TRAVELLED 0 BULK LIQUID VOLUME 152 VESSELS HANDLED $0 00 0 OFFSHORE DRILLING CAMPAIGNS SUPPORTED QUBE 37,279,199 00 0 DUBE ONSHORE DRILLING CAMPAIGNS SUPPORTED WORTH OF FREIGHT HANDLED 0 P & A SHUTDOWNS 100 00 +3,000 BULK LIQUID VOLUME 499 VESSELS HANDLED DRILLING WELLS SUPPORTED A 37 OFFSHORE DRILLING CAMPAIGNS SUPPORTED $484 million QUBE WORTH OF FREIGHT HANDLED 26 P&A Chevron Santos COOPER ENERGY ExxonMobil beach SHUTDOWNS QUBE I 50 50#52Supporting Energy Supply Chains PROVIDING INTEGRATED LOGISTICS SERVICES QUBE QUBE Overview of Qube Energy operations across Chevron and Shell VENDOR COLLECTION TRANSPORT - ROAD & AIR OUSE CUSE QUBE ARRIVE AT WAREHOUSE INSPECT, QA, QUARANTINE & RECEIPT GOODS STORE GOODS PACK GOODS DESPATCH " QUDE ROAD TRANSPORT " ON SHORE - " " STEVEDORING " ן RIG & INFIELD DAZ 00 www OFFSHORE- VESSEL & RIG 51 I#53Integrated Supply Chains for Forestry FROM STEVEDORE TO INTEGRATED SERVICE PROVIDER FOR THE FORESTRY SECTOR Video Overview: Qube operations in the Green Triangle Victoria and operations in ISO Limited, New Zealand (plantation forests) I UNI HARMONY LOGGING QUBE HARVESTING TRANSPORT QUEE CHIPPING ㅁㅁ ㅁㅁ ㅁㅁ QUBE PROCESSING MILL DOMESTIC PRODUCTS DISTRIBUTION STEVEDORING STORAGE MARSHALLING 52 52#54Current Growth Pipeline - Ports SHORT TO MEDIUM TERM OUTLOOK Low EXPORTS Growth Medium Growth High Low Medium IMPORTS Growth Growth Growth High Growth OTHER Grain Woodchip Hydrogen/ Ammonia Machinery Steel Products Fertiliser Gas / LNG General/ Project Cargo Oil Wind Farms Export Logs (NZ) Export Logs (Aus) Scrap Steel Containers (regional) Motor Vehicles Pulp Paper Domestic Timber (Aus) QUBE Low Growth Medium Growth High Growth This slide provides a snapshot of the current growth outlook for Ports by product recognising the opportunities currently under consideration in the pipeline including Existing Customer Volume Outlook • Existing Customer New Business Opportunity New Business Opportunities / and Tenders • Potential Acquisitions 53#55Session 4 - Q&A 18000 Karamd Qune PDS QUBE POO Qube Energy warehouse, Karratha, WA#56Morning Tea (15 minutes) ZOCEAN UG QUBE QUBE OUGE e QUBE AAT Appleton Dock, Melbourne#57Session 5 - Qube Bulk Todd Emmert – Director - CUBE DUBE QUBE Qube Picton storage sheds and operations, WA#58Suite of Customer Services BROAD RANGE OF LOGISTICS SERVICES OUDE OUBE QUEE FUEL TRANSPORT BG ON ROAD TRANSPORT D OOOO QUBE OFF ROAD TRANSPORT TERMINAL SERVICES GENERAL CARGO DE-BAGGING QUBE ML RAIL SERVICES PROJECT CARGO ROTA BOX WAREHOUSING REVERSE LOGISTICS BULK EXPORTS 000 Quee quee STOCKPILE MANAGEMENT PROCUREMENT CONTAINER LEASING BULK STORAGE CONTAINER HANDLING & STORAGE QUBE DANGEROUS GOODS TRANSPORT 57#59Why Choose Qube? KEY STRENGTHS THAT HAVE ESTABLISHED QUBE AS A MARKET LEADER DO CYBER SECURITY GOVERNANCE SYSTEMS GROUP EXPERTISE оп QUBE II QUBE SUPPLY CHAIN MANAGEMENT SYSTEMS CUSTOMISED CONNECTED SOFTWARE MODAL SHIFT OPERATING SYSTEMS INNOVATION DRIVEN II II ୦୦୦ I I I I I I I I I I I I I COMMUNITY ENVIRONMENTAL FOCUS EQUIPMENT POOL FINANCIAL CAPABILITY STRATEGIC ASSETS SUPPLY CHAIN || I MANAGEMENT II II OPERATIONAL EXPERIENCE PEOPLE I I I I I المرأ II Do I I I I I SAFETY SYSTEMS SAFETY COMMITMENT WELL ESTABLISHED NETWORK ROBUST BUSINESS STRATEGIC LOCATIONS CUSTOMER SERVICE RELATIONSHIPS I 58#60The Lithium Supply Chain PROVIDING SUPPLY CHAINS FOR PRODUCTS ESSENTIAL TO THE ENERGY TRANSITION Qube Bulk has developed a compelling lithium supply chain that services all our customer requirements Video: Lithium Supply Chain BULK ROAD HAULAGE DISCHARGE BULK ROAD HAULAGE BULK STORAGE III 0000 LOAD OUT ROTABOX ROAD HAULAGE DISCHARGE AT BERTH QUBE --- ROAD HAULAGE 59#61Multi-Modal Supply Chains INTEGRATED SERVICES FOR MAJOR RESOURCE COMPANIES Qube Bulk has developed a compelling. multi-modal integrated supply chain in the Goldfields (Western Australia) that delivers for our customers. QURE Video Supply Chain: Goldfields вело ROAD TRANSPORT OUSE INTERMODAL TERMINAL SERVICES DOMY 12006S ΙΔ OUSE CUDE UBE OU QUE Oste VF7572 TSU 021070 2 25NX INRORISH QUBE DUBE DOCK OOOLE RAIL SERVICES TRANSPORT TO CUSTOMER OPERATIONS INTERMODAL RAIL SERVICES TERMINAL SERVICES QU EXPORT 60 60#62Current Growth Pipeline - Bulk SHORT TO MEDIUM TERM OUTLOOK EXPORTS Lithium Mineral Sands Copper Low Mid High Low Mid IMPORTS Growth Growth Growth Growth Growth High Growth Fertiliser Chemicals Cement Nickel Woodchip Lime This slide provides a snapshot of the current growth outlook for Bulk by product recognising the opportunities currently under consideration in the pipeline including Manganese Gold Salt Iron ore Coal - Met Coal Thermal . Existing Customer Volume Outlook • Existing Customer New Business Opportunity • New Business Opportunities / and Tenders • Potential Acquisitions QUBE 61#63Session 5: Q&A QUB MINN 6000966 DOMY CAPACITY W4Y CAPTING 711 TARE 17.4T LENGTH 13M 12006S DRELEASE ENSURE LOCKS ARE OPEN BEFORE LID REMOVAL ENSURE LOCKS ARE ENGAGED BEFORE TRANNY NO BOTTOM LIFTING IS ALLOWED UBE QUBE LID LIFT ONLY LID LIFT ONLY QUBE EMPTY LIFT ONLY WRED013 EMPTY LIFT ONLY ENSURE LOCKS ARE ENGAGED BEFORE TRANSIT F ENSURE LOCKS ARE OPEN BEFORE LID CHOVAL 03 U O BO 3000889 7 NO BOTTOM LIFTING IS ALLOWED B END JBE AUBU 300722 5 Qube Kalgoorlie Rail Terminal, Western Australia NO BOT IS A#64Session 6 - Patrick Terminals Paul Digney - Qube Managing Director MAERSK MAERSK MAERSK AERS APL MACOM 13 S ZPMC QUBE Patrick Terminals - Sydney AutoStrad - Port Botany#65Patrick Terminals KEY ATTRIBUTES QUBE Market Leader Superior Operator Automation & Technological Advantage One of only two national container terminal operators in Australia Market share of more than 40% with presence in all four major container ports in Australia Superior sites with rail capability at major ports to enhance capacity and productivity Quayside and landside performance ahead of competitors Enabling modal shift to rail through significant investment Global leader in container terminal technology Automated terminal operations in Sydney and Brisbane Long term lease arrangements: Strategic Footprint / Long Term Port - Melbourne (East Swanson Dock): 2066 Leases Strong Customer Relationships Diversified Revenue / Landside Charges Industrial Relations Management Team Strong Shareholder Support Safety Performance - Sydney (Port Botany): 2043 - Brisbane (Fisherman Island): 2045 - Fremantle (Port of Fremantle): 2031+ Long standing history in the Australian market Strong history of renewing customer contracts with shipping lines Increased landside and ancillary charges in recent years to recover landside investment, leading to a diversification of Patrick's revenue stream Recently finalised 4-year agreement with Maritime Union of Australia to December 2025 Highly experienced and proven management and operational team Qube and Brookfield (joint venture) – acquired Patrick in August 2016 Industry leading performance with a significant reduction in recordable injuries since acquisition (TRIFR 31.8 in FY17 -> 7.8 in FY22) 49 64#66Patrick Terminals AUSTRALIA'S LEADING CONTAINER TERMINAL OPERATOR - FOUR MAJOR PORTS Perth / Fremantle PATRICK QUBE 1,399 VESSELS HANDLED LAST 12 MONTHS 3.3 MIL TEU HANDLED PER ANNUM Brisbane Fisherman Island 3.9 KM QUAY LINE Sydney - Port Botany - Melbourne East Swanson Dock Container terminals Rail terminals National Operations Centre 134 AUTOSTRADS / MANUAL STRADS 25 QUAY CRANES 65 99#67Sydney AutoStrad Terminal HOME TO AUSTRALIA'S LARGEST SHIP-TO-SHORE QUAY CRANES DOTDIOV ATRICK AUTORAIL LIVE BERTH 6 BERTH 7 4 x Liebherr cranes 20 wide QUBE 420 VESSELS HANDLED PER ANNUM 1.6M TEU CAPACITY PER ANNUM 1.16M TEU VOLUME HANDLED IN 2021 1,400M QUAY LINE 4 BERTHS BERTH 8 BERTH 9 9 59 QUAY CRANES AUTOSTRADS 5 x ZPMC cranes Beam capability 46m (18 wide) Draft 14.4m Lease end date: 2043 1 ON-DOCK AUTOMATED RAIL TERMINAL 66 99#68Melbourne Terminal PORT OF MELBOURNE'S BEST PERFORMING STEVEDORING TERMINAL ON-DOCK RAIL PATRICK BERTH 1 BERTH 2 7 x ZPMC cranes 2 x 17 wide cranes 3 x 18 wide cranes 2 x 19 wide cranes Berth works 100% completed QUBE 360 VESSELS HANDLED IN 2021 1.4M TEU CAPACITY PER ANNUM 1.017M TEU VOLUME HANDLED IN 2021 885M QUAY LINE 3 BERTHS BERTH 3 7 40 QUAY CRANES STRADDLES Lease end date: 2066 1 ON-DOCK RAIL TERMINAL (COMMENCING MID-2023) 67 52#69Brisbane AutoStrad Terminal AUSTRALIA'S FIRST AUTOMATED TERMINAL PATRICK BERTH 10 3 x ZPMC cranes BERTH 9 Most productive cranes in Brisbane 17 wide BERTH 8 3 x ZPMC 2x Liebherr cranes Beam capability 20 wide Lease end date: 2045 QUBE 425 VESSELS HANDLED IN 2021 1.16M TEU CAPACITY PER ANNUM 732K TEU VOLUME HANDLED IN 2021 930M QUAY LINE 3 BERTHS 6 QUAY CRANES 35 AUTOSTRADS 89 68#70Fremantle Terminal LEADING MARKET SHARE IN THE PORT OF FREMANTLE PATRICK EE BERTH 3 4 x ZPMC cranes BERTH 4 QUBE 194 VESSELS HANDLED IN PAST 12 MONTHS 600K TEU CAPACITY PER ANNUM 419K TEU HANDLED IN PAST 12 MONTHS 646M QUAY LINE 2 BERTHS 4 QUAY CRANES 1 X 19 wide 3 X 18 wide 22 16 FORKLIFTS ITVS Lease end date: 2031+ 69 69#71Patrick Terminals Overview AUSTRALIA'S LEADING CONTAINER TERMINAL OPERATOR Video: Overview Patrick PATRICK FRWICK 17 QUBE MAERSK Kalmar Kalmar 70 70#72Patrick Terminals SIGNIFICANT INVESTMENT TO MAINTAIN COMPETITIVE ADVANTAGE Quayside Quayside & Landside 58 GOTRIGH Landside QUBE New Quay Cranes Increasing Handling Ability Fleet size: 25 5 new Quay Cranes procured across past 3 years, with large vessel handling capability 2 ZPMC cranes commissioned in Melbourne, 1 ZPMC crane commissioned in Fremantle 2 Liebherr cranes (1 in Sydney and 1 in Brisbane) Average age of crane fleet - 9 years, with the oldest cranes ~14 years (typical crane life of 25 years) PATRICK • • • Renewing and Growing Straddle Fleet Straddle Fleet: 134 with an average age of 7 years (typical straddle life of 15 years) 34 new straddles commissioned across the past 3 years (4 in Melbourne; 16 in Sydney; 14 in Brisbane) 10 new straddles on order for delivery in early 2023 (4 in Brisbane; 6 in Sydney) Investment in Rail Phase 1 of Port Botany Rail Terminal completed in June 2021. Phase 2 scheduled for completion by mid- 2023. Construction of new rail terminal on Coode Rd site in Port of Melbourne adjacent to terminal is well progressed, and scheduled for completion by mid-2023. Fremantle Redevelopment Investment in new equipment, systems, direct rail interface, paving and yard enhancements • • Automated Truck Handling (ATH) ATH developed by Patrick team go live in Brisbane in July 2022. • Autonomous placement of import containers delivering improved truck turnaround times and safety outcomes. • Consultation commenced for roll out in Sydney. Upgrade of Terminal Operating System (IT) Rolled out across all Terminals in 2021 delivery efficiencies and workplace synergies. 71#73Patrick Terminals STRONG EARNINGS GROWTH EBITDA $m EBITDA Performance 350 300 250 200 150 100 50 0 2017 2018 2019 2020 2021 2022 2023 PATRICK QUBE Business very resilient during COVID-19 pandemic Australian market container volumes back above pre- COVID 19 levels at ~8.0m TEU per annum. Patrick working ~3.3m TEU per annum Patrick on target to deliver strong EBITDA growth in FY2023 Significant quayside and landside investment across the past 2 years to drive improved performance and maintain competitive advantage Further automation and technology initiatives to drive further cost savings 72#74Patrick Terminals STRONG OPERATIONAL & FINANCIAL PERFORMANCE ACROSS MOST KEY METRICS SINCE QUBE'S INITIAL INVESTMENT QUBE Key Metrics (Based on 100% rather than Qube's 50% interest) Market Size (TEU millions) Market Share (%) Patrick Volume (lifts millions) EBITDA ($m) Revenue per lift ($) Revenue Composition ROACE TRIFR (Total Recordable Injury Frequency Rate) PATRICK FY17 (Acquisition year) 6.7 46% FY22 8.0 42% 2.1 2.1 $188 $264 $280 $344 >75% quayside (shipping lines) <25% landside (logistics providers) <60% quayside (shipping lines) >40% landside (logistics providers) ~4.0% 31.8 ~7.4% 7.8 Change 73#75Patrick Terminals THERE HAS ALSO BEEN A SIGNIFICANT REDUCTION IN KEY RISKS SINCE QUBE'S INITIAL INVESTMENT Risk FY17 (Acquisition year) FY22 QUBE Terminal Capacity Industrial Relations Large vessels Revenue Quality Separation Risks (Disaggregating Patrick from Asciano) & Technology Lease Renewal Other Excess terminal capacity in the market due to new stevedore commencing operations in VIC EA inherited contained a number of conditions that impacted flexibility and productivity which the union wanted to retain Risk that Patrick would lose material market share in VIC due to inability to service large vessels Overwhelming portion of revenue generated from quayside activities with limited scope to recover higher costs or return on investment outside contract negotiation period (every 2-4 years) Need to separate IT and other systems from the centralized Asciano systems Near term expiry of Fremantle lease. N/A Market growth has utilized a portion of surplus capacity in the market. Further incremental capacity will be created as the market grows. Finalised new 4 year EA in late 2021 with market leading terms The Port of Melbourne has increased the size of vessels that can access Patrick and further trials are underway to accommodate even larger vessels. Patrick can now handle most vessels calling in the Port. More balanced mix of revenue from quayside and landside users which more equitably reflects the investments and costs in relation to each segment and supports a more reasonable return on current and ongoing investment in capacity and productivity initiatives Successful separation completed with robust systems and an enhanced cyber capability. Successfully implemented a new industry leading technology operating system into the 4 terminals. Implementing other new technologies and automation enhancements into operations Substantial extension of tenor with Fremantle lease extended for at least 10 years and extension of Port Botany and East Swanson leases Development of automated on-dock rail at Port Botany and future rail facility at East Swanson under construction to further increase capacity and productivity וח PATRIC 74#76Draft Productivity Commission Report PATRICK IS COMMITTED TO DELIVERING ON-GOING PRODUCTIVITY ON THE WATERFRONT ON A COMMERCIALLY SUSTAINABLE BASIS Recommendation Comment QUBE IR issues relating to industrial action, bargaining practices and restrictive EAs should be addressed. In particular, provisions in EAs which impose excessive constraints on merit-based hiring and promotion, casual/flexible workers, innovation and 'order of pick' should be prohibited Patrick has effectively addressed a number of these issues through its recent EA negotiations but any further legislative improvements should support further productivity improvements. Terminal access charges (TAC) and other fixed fees should be regulated so they can only be charged to shipping lines, not to transport operators. The draft recommendation if actioned will not impact Patrick financially but may have some adverse impact on the CTO operation The National Voluntary Guidelines (NVG) developed by the National Transport Commission (NTC) provides a framework that balances both the quayside and landside productivity initiatives • The Federal and State transport and infrastructure Ministers only endorsed the NVG framework in March 2022 • ACCC supports the current status on landside fees and the NVG framework and has a monitoring role PATRICK 75#77Patrick Terminals PATRICK HAS DELIVERED ON ITS 5 YEAR PLAN AND IS ON TRACK TO DELIVER ON THE NEXT 5 YEAR OBJECTIVES • Continue to invest in both quayside and landside . Plant, property, equipment and systems • Maintaining market share of 41% -43% • Delivery of key rail projects in Sydney and Melbourne, to facilitate modal shift • Upgrade of market leading terminal facilities to drive productivity benefits • Progress key automation/productivity projects • Further strengthening quality of revenue. • Opportunity to implement productivity benefits post new EA implementation, stabilising cost per lift as volumes and revenue per lift grow Continued improvement in ROACE (targeting >10% in the medium term) PATRICK CMA CGM QUBE 76#78Session 6 Q&A MSC LUCY PANAMA PATRICK QUBE 扫一 HAMBURG Seatrade Searrade CMA C MA Patrick Terminals - Sydney AutoStrad - Port Botany#79API. Lunch (30 minutes) HAMBURG SOO 112 I YANG MENG MAERSK MAERSK MAERS MAERSK MAD ◄ MAZREK MAERS AERSK MAERS DOTDICH Patrick Terminals - Melbourne QUBE#80Session 7 - Financial Overview Mark Wratten - CFO QUBE QL001 CMA.COM LOUBE QUBE Narrabri Intermodal Terminal#81Table of Contents 1 Financial accountability and ownership 2 5-year financial performance – Revenue, EBITDA and ROACE 3 4 Dividend history and current policy Debt and gearing – historical and target 5 Capex and depreciation profile 6 Growth drivers inc. M&A focus areas and return thresholds 7 Key financial takeaways QUGE QUBE 80#82Financial Accountability and Ownership QUBE HAS A ROBUST FINANCIAL GOVERNANCE FRAMEWORK IN PLACE Org. Level Manager Level Number Examples • Financial Accountability and KPI / Drivers Accountable for financial performance of business unit QUBE Top-down direction, review and input on operating budgets (region and profit centre) Medium term (budget + 3 year) forecasts • Business Unit • Director 2 Logistics and Infrastructure • Ports and Bulk • Drive organic and M&A growth Region or Group General or Regional Manager -20 • NZ, NSW, QLD, WA etc • • • • Profit Centre Operations Manager ~270 • Energy, Pilbara, Goldfields, Australian forestry, Australian ports AAT, Rail, Global • MLP (warehouse, IMEX) Each logistic site ie empty container parks, warehouses NAT, Quattro • Specific bulk site operations • • . • • • Revenue, EBIT and margin growth, ROACE Accountable for operational efficiencies, improvements and business synergies Accountable for financial performance of region or group Reviews and provides input on operating budgets Drive organic growth (new contracts) Identify M&A opportunities Assist in improving productivity and financial performance of profit centres Revenue, EBIT and margin growth, ROACE Reset and adjust cost base as required in certain circumstances Accountable for financial performance of profit centre Builds and owns operating budgets Manage and report on key KPI's ie. product or service volumes (units, weight, time etc), asset utilisation, labour, costs Improve productivity Re-engineer processes (remove bottlenecks) . - • Each port we operate at (by service activity) Assets higher uptime, fit for purpose, innovation, maintenance • Labour efficiencies inc. training, skills, supervision . Technology and systems . Customer engagement Monthly business reviews (MBR's). Note that monthly MBR's are also undertaken between the business unit (BU) Directors and the Group MD and CFO. Additionally monthly financial reports are prepared for the Board with commentary, and BU Directors present regularly at scheduled Board meetings to review the performance and outlook of their respective businesses. 81#835 Year Financial Performance STRONG TRACK RECORD OF REVENUE AND EBITDA GROWTH Underlying Revenue - Operating Division (FY18-22 CAGR: +13.4%) Underlying EBITDA - Group (FY18-FY22 CAGR:+9.6%) QUBE Underlying EBITDA - including 50% Patrick (FY18-FY22 CAGR:+9.4%) 450 400 3,000 600 500 350 2,500 300 2,000 400 300 250 1,500 $m $m 200 388.8 200 1,000 150 325.6 289.3 290.9 269.2 100 500 100 0 0 50 FY18 FY19 FY20 FY21 FY22 FY18 FY19 ■ L&I 714.3 711.3 P&B 840.7 913.3 FY20 823.2 962.2 FY21 860.3 1,148.2 FY22 1,129.3 1,443.1 0 FY18 FY19 FY20 FY21 FY22 Patrick 50% Qube Group 100.6 269.2 105.1 289.3 94.6 290.9 120.1 139.9 325.6 388.8 Strong track record of revenue growth across the Operating Division of Qube Delivered through a combination of organic growth and acquisitions Guided to continued strong growth in FY23 Refer to slide 89 for growth drivers Material step up in EBITDA over past 2 years Guided to continued strong growth in FY23 Numbers exclude Patrick Qube EBITDA grew at 9.6% CAGR Patrick EBITDA grew at 8.6% Guided to further strong growth in FY23 82#84Investment Returns - Improving ROACE QUBE DELIVERED A STEP UP IN ROACE IN FY22 QUBE Qube Group 9.0% 8.0% 7.0% 5.9% 5.6% 6.0% 5.2% 4.7% 8.0% 6,000.0 5,000.0 4,000.0 3,000.0 2,000.0 1,000.0 ROACE (%) 5.0% 4.0% R 3.0% 2.0% 1.0% 0.0% FY18 FY19 FY20 Average Capital Employed FY21 FY22 ROACE (%) Note: Average capital employed excludes goodwill of $310m which arose from the Qube Restructure undertaken in 2011. Patrick 8.0% 7.0% 6.0% 5.0% 5.0% 4.6% 4.4% 4.0% 3.0% 2.0% 1.0% 0.0% FY18 FY19 FY20 7.4% 1,500.0 6.0% 1,400.0 1,300.0 1,200.0 1,100.0 1,000.0 FY21 FY22 ROACE (%) Average Capital Employed ($m) Average Capital Employed ($m) Average Capital Employed ($m) FY18-21 returns dampened by the material and increasing investment in Moorebank Logistics Park (MLP), with minimal associated earnings. Qube delivered a step up in ROACE in FY22 as a result of strong growth in the Operating Division and Patrick, and the divestment of the MLP asset, which materially lowered our capital employed base. A further benefit should be derived in FY23 simply based on a lower average capital base across the year (FY22 has MLP in for most of H1). Targeting to grow Qube group returns to above 10% in the short to medium term, with the opportunity to further improve as group earnings continue to improve and the MLP Terminal assets start to contribute to earnings in a more meaningful way (3-5 years). Patrick is delivering improved returns driven by growth in margins, higher productivity and an increasing contribution from landside and ancillary charges. Returns are still below those required for an investment of this type of asset. Patrick has invested, and continues to invest, in improving productivity for both shipside and landside customers. Guided to continued strong growth in underlying EBITDA in FY23. ROACE should also improve. 33 83#85Dividend History – Growing Dividends - OBJECTIVE IS FOR ANNUAL ORDINARY DIVIDENDS TO INCREASE ALIGNED TO UNDERLYING ANNUAL EPSA GROWTH 12.0 10.0 Ordinary Dividend & Underlying EPSA 8.7 8.0 7.7 $ (cents) 00 6.0 8.4 7.2 10.6 6.3 6.0 5.5 5.7 5.2 4.0 2.0 0.0 FY18 FY19 FY20 FY21 FY22 Dividend Underlying EP SA FY18 FY19 FY20 FY21 FY22 EPSA payout ratio 71% 66% 72% 71% 59% QUBE Following completion of the Moorebank monetisation Qube now targets a full year ordinary dividend payout ratio of 50-60% of underlying earnings per share (pre amortisation) EPSA. Dividends have all been fully franked and we have a large franking credit account balance (June 2022 $247.0m). • In determining dividends the Board takes into account the cashflow generated by the business and other relevant factors including the financial and economic outlook and capital expenditure requirements. FY22 also included a fully franked special dividend of 0.7 cps (not shown in chart). Special dividends in FY18 (1.0 cps) and FY19 (2.0 cps) also not included in the chart. The objective is for annual ordinary dividends to increase aligned to underlying annual EPSA growth. Additional capital management initiatives will be considered from time to time. 84#86Net Debt and Gearing - Conservative Balance Sheet QUBE CURRENTLY TARGETS A GEARING RATIO BETWEEN 30 - 40% 1,600.0 1,400.0 1,200.0 23.9% 1,000.0 800.0 600.0 400.0 862.1 200.0 Net Debt¹ & Gearing Ratio² 32.5% 29.2% 26.0% 1,356.4 1,388.4 1,193.3 35.0% 30.0% 22.9% 25.0% 20.0% 15.0% 889.1 10.0% 5.0% 0.0% FY18 FY19 FY20 FY21 FY22 Net debt ($m) Gearing ratio (%) Gearing Ratio (%) QUBE FY22 saw a significant reduction in net debt and gearing levels post the Moorebank monetisation in December 2021 as proceeds were predominantly used to pay down debt. Additionally, an off-market share buy back completed in May 2022 delivered $400m to participating shareholders and reduced our shares on issue by circa 8%. Cash and undrawn facilities as at June 2022 totalled $1.3 billion. Weighted average debt maturity at June 2022 was 2.1 years. We are currently working on right sizing our facilities and extending out maturity profiles. Qube currently targets a gearing ratio between 30 - 40%. Qube is targeting leverage to be between 2.0 to 2.5 X over the medium to long term, and to be seen as an investment grade credit risk (or better). Qube's cash conversion, whilst dipping in FY22, is typically close to 100%. FY18 FY19 Cash Conversion % 93% 105% FY20 103% FY21 FY22 In the past 5 years, Qube has received $415m from Patrick 93% 71% $127m interest payments Notes: 1. Excluding lease liabilities 2. Net debt / (Net debt + Equity) where net debt excludes lease liabilities attributable to AASB16 . $128m SH loan repayments $100m dividends $60m return of capital 85#87Capex Growth - GROWTH CAPEX IS DISCRETIONARY – MUST MEET INVESTMENT CRITERIA 350.0 300.0 250.0 200.0 - Short to Medium Term Return Capex ($m) 150.0 88.2 100.0 189.6 81.4 78.7 127.3 194.3 172.1 128.7 50.0 98.9 84.3 0.0 FY18 FY19 FY20 FY21 FY22 Growth Acquisitions 120.0 100.0 80.0 60.0 40.0 Medium to Long Term Return Capex ($m) 113.1 87.2 52.0 39.6 20.0 31.5 0.0 FY18 FY19 FY20 FY21 FY22 MLP Terminal • QUBE Growth and acquisition capex is discretionary given Qube can select not to make the investment if investment criteria are not met. Growth capex typically results in quick incremental contributions to earnings as the assets are deployed and contracts commence. There may be a ramp up period (to full earnings potential) as a new operation is fully established, particularly for large, complex new projects ie BlueScope rail contract. Payments for larger assets may be staggered (progress payments) until final delivery and commissioning of the asset, delaying the commencement of earnings. Acquisition capex again typically delivers immediate contributions to earnings, albeit full contributions to business case may take time based on a number of factors. Targeted returns on capital (>10%) would typically take 1-3 years. Bulk of spend to date has been on the IMEX terminal at Moorebank (MLP). The carrying value of IMEX was impaired by $156m in FY21. A further $140-160m forecast on the IMEX and Interstate terminals in FY23 (excluding deferred consideration of $100m from LOGOS – relates to stage 1 of the Interstate). Both assets will only reach breakeven once MLP is more fully built out and tenanted (likely ~3- 5 years) and the switch from road to rail is more fully embraced. Achieving targeted returns likely to take ~5-7 years. Qube also benefits from these assets across other parts of its network. The Interstate terminal is forecast to cost $154m for stage 1. On completion Qube will own 65%, LOGOS 25% and NIC 10%. 86#88Capex Maintenance REPLACEMENT CAPEX SUMMARY 160.0 Replacement Capex ($m) 88% 85% 90% 140.0 80% 79% 80% 120.0 70% 100.0 €80.0 57% 60% 50% 143.9 40% 60.0 118.9 96.2 30% 40.0 78.1 20% 59.0 20.0 10% 0.0 0% FY18 FY19 FY20 FY21 FY22 Maintenance Maintenance capex/ Depreciation % QUBE 100% Maintenance capex has been increasing as a result of large growth and acquisition capex spend over past 3 years (~$750m). We recently provided guidance for FY23 maintenance capex to be between 85-95% of underlying depreciation. Given a strong focus on operational maintenance (preventative opex) Qube expects most assets could be utilised past their depreciation periods. Maintenance capex could be reduced however trade off to possible higher maintenance opex (or downtime) would need to be considered. Maintenance capex may be lumpy depending on the nature and age of the asset base. Further work needs to be done on medium to longer term maintenance capex cycles. How ESG plays into our future asset base will also need to be considered at the appropriate time. When the technology (zero or lower carbon usage assets) becomes commercially available there will be a catalyst to commence switching out our existing assets. Unlikely to be material in next 2-3 years. 87#89Approach to Acquisitions CLEAR, MEASURABLE RETURN HURDLES FOR POTENTIAL NEW INVESTMENTS WITH A FOCUS ON ROACE OF AT LEAST 10% QUBE • • Qube has a strong track record of identifying and completing accretive acquisitions consistent with our strategy, financial hurdles and risk profile. Typically, acquisitions are initiated from within the business units, and frequently negotiated bilaterally in a non-competitive process. Some opportunities take years of engagement before a transaction evolves. Clear, measurable return hurdles for potential new investments with a focus on ROACE of at least 10% and a post-tax IRR above Qube's WACC (currently circa 8.5 - 9.0%). Other investment decision factors include EPS accretion, ESG, synergy opportunities (cost and revenue) and key employee experience and our ability to retain. Focus is on achieving sustainable, long term returns consistent with the risk profile (even if investment has a short-term negative impact on returns). Timing of opportunities is hard to predict and will be lumpy. Meanwhile, Qube will continue to have a disciplined, patient approach to M&A. . Qube undertakes significant due diligence using internal and external resources and develops robust integration plans. Qube undertakes post investment reviews and shares key learnings across the organisation and up to the Board. 88#90Qube Growth Drivers COMBINING MULTIPLE VOLUME DRIVERS WITH DIVERSIFIED VALUE DRIVERS MULTIPLE VOLUME DRIVERS + DIVERSIFIED VALUE DRIVERS || QUBE SUSTAINABLE LONG-TERM GROWTH GROWTH EXISTING - BASE GDP GROWTH Grow with the economy GROWTH OF OUR CUSTOMERS Grow with the growth of our customers product EXISTING - MARKET SHARE MULTI PURPOSE INFRASTRUCTURE Port facilities, logistics hubs etc GROW MARKET SHARE Win new customers ACQUISITIONS Example: NAT Existing and new markets and services NEW EXPAND SERVICE OFFERING Provide additional services to existing customers NEW MARKETS/ NEW PRODUCTS / ACQUISITION Last 15-year track record adding new markets eg energy, forestry, rail, resources, agri GROWTH CAPEX Example: BlueScope Rail Supporting new major contract wins INFRASTRUCTURE CAPEX Example: Utah Point, Container Logistics, Port Infrastructure Key infrastructure with long-term earning profiles MULTI PURPOSE OPERATING UNITS Example: Road transport and rail IMPROVE OPERATIONAL PRODUCTIVITY Processes, assets, systems, people LEVERAGE OVERHEADS Efficient OH base that support a growing business ENHANCED VALUE Pricing REVENUE = GDP+ MARGIN GROWTH ROACE = 10%+ EPSA GROWTH DIVIDEND GROWTH 89#91Key Financial Takeaways QUBE IS FOCUSED ON SUSTAINABLE PROFITABLE GROWTH وا 園 Qube has a sound balance sheet, significant available liquidity and delivers strong cashflow generation. QUBE We will continue to deploy growth and acquisition capital in a patient, disciplined and strategically focused manner. The group is highly focused on sustainable profitable growth, increasing dividends and improving ROACE (target 10%+). Qube is targeting leverage to be between 2.0 to 2.5 X over the medium to long term and be seen as an investment grade credit risk (or better). Qube has a deep and strong culture of P&L ownership and accountability, with multi level support structures in place. Operational management are empowered and agile. Opex and capex can be quickly flexed if the situation requires for it ie customer volume reductions. Assets can be redeployed or put into care and maintenance. 90#92Session 7 - Q&A MAENSK CMA COM CMAR QUBE Qube Harefield Intermodal Terminal#93Session 8 - Outlook QUBE QUBE Qube Coonamble Grain Terminal#94What are Risks / Challenges FY23 QUBE IS WELL POSITIONED COVID-19 INFLATION EXTREME WEATHER EVENTS SUPPLY CHAIN DISRUPTION LABOUR QUBE VOLUME IMPACT The situation is improving and there is far less disruption to the operations. Inflationary impact continues to be effectively mitigated through contractual protections, cost management and productivity improvement and rate increases. Adverse weather continued into FY23 although no material impact to operations to date The situation is improving and there is far less disruption to the operations. Equipment procurement supply timeframes have improved. The situation is improving and there is far less disruption to the operations. China related forestry volumes remain subdued however the business has reset the cost and pricing base. Windfarm projects are now progressing and there is a healthy customer pipeline. 33 93#95Q1 Update Financials STRONG START TO Q1 AHEAD OF INTERNAL EXPECTATIONS Q1 PERFORMANCE HIGHLIGHTS Qube has experienced a strong start to FY23, with continued high volumes and margin improvement across most parts of its business. Underlying revenue, earnings and margins were ahead of Qube's internal expectations at the end of Q1. This was particularly pleasing as it was achieved despite some adverse weather in the period, continued weakness in forestry export volumes from New Zealand, and the ongoing impact from some of the other challenges that affected the FY22 results. Key highlights from Q1 include: • • • • High volumes across most activities resulting in overall margin improvement Continued strength in container related activities (QL&I and Patrick) Very high access and storage volumes of vehicle, Ro Ro and general cargo. volumes Very strong contribution from agri related activities • Solid contribution from energy activities • Steady volumes across resources activities • Continued weakness in forestry volumes (although some improvement expected in late FY23) QUBE 94#96FY23 Outlook FY23 OUTLOOK REMAINS UNCHANGED Continued underlying revenue and earnings growth expected in FY23 Qube remains positive about the remainder of the period and confirms its FY23 full year guidance of underlying NPATA growth relative to FY22 and higher underlying EPSA growth (compared to NPATA growth) due to the full year benefit from the share buyback completed in May 2022. This outlook continues to reflect the expectation of: strong growth in underlying revenue and earnings (EBITA) in the Operating Division, with the Logistics & Infrastructure business unit expected to achieve higher earnings growth than the Ports & Bulk business unit; strong growth in underlying EBITDA/EBIT for Patrick Terminals with the NPATA contribution from Patrick Terminals modestly higher than FY22 due to an increased interest expense, mainly resulting from higher base rates. Qube expects continued strong cash distributions from Patrick Terminals in FY23; and increased corporate costs and a significant increase in interest expense. This outlook continues to assume no material adverse change to current conditions in Qube's markets or domestic or global economic and/or political conditions, including any deterioration due to COVID-19 that impacts Qube's workforce, customers, markets, or operations. It also assumes that any further extreme weather events, such as those that have impacted the east coast of Australia and parts of New Zealand in 2022, do not materially disrupt the operations of Qube, or its customers, during the remainder of FY23. QUBE 95#97The Qube Difference EMPOWERING OUR PEOPLE TO THRIVE QUARTERLY RUGB INSPECTION PEA 13 QUBE JULY-SP CURRENT INSPEC QUBE QUBE OUSE QUBE 96 96 QUBE#98CA Panel Q & A 12 COSCO Song MAERSK PAC M MAERSK MAERSK MAERSK COSCO MOL CMA CGM CMA CGM 800 MAERSK 300 P CA PAVBURG QUBE LOGISTICS CMA CGM KLINE ONE ONE ONE A 岩岩 CMA CGM CMA CGM QUBE NE CMA COM CHA COM CMA COM Qube Logistics Fremantle, Western Australia#99Close VH LEME5908 CABILE QUBE Qube Quattro Grain Terminal, New South Wales#100Appendices QL 009 QUBE OLOOS QUBE Qube Coonamble Grain Terminal, New South Wales#101Extracted from FY22 Results Presentation Safety Performance CONTINUE TO FOCUS ON EMPLOYEE SAFETY AND DELIVERING ZERO HARM QUBE SAFETY PERFORMANCE & HEALTH PERFORMANCE Total Recordable Injury Frequency Rate (TRIFR)1 Lost Time Injury Frequency Rate (LTIFR)² Critical Incident Frequency Rate (CIFR)³ 18 16.2 3.5 16 3.15 3.0 3.0 14 2.40 2.5 12 2.5 2.18 9.3 10 8.9 9.0 2.0 2.0 8.3 1.72 7.4 1.54 8 1.5 1.10 1.5 6 0.86 1.0 0.80 0.80 0.75 1.0 4 0.5 0.69 0.37 0.5 2 0.0 0 FY17 FY18 FY19 FY20 FY21 FY22 FY17 FY18 FY19 FY20 FY21 FY22 FY17 FY18 FY19 FY20 FY21 FY22 Notes: 1. TRIFR is the combined number of recordable Return to Work, Medical Treatment Injuries and Lost Time Injuries for every million hours worked 2. LTIFR is the Number of Lost Time Injuries for every million hours worked 3. CIFR is the number of actual Class 4/5 incidents and the number of potential Class 4/5 incidents per million hours worked. Class represents the severity level (4 = major, 5 = critical) Qube achieved a Total Recordable Injury Frequency Rate (TRIFR) of 7.4 which represented a 17.7% reduction from FY21. The Lost Time Injury Frequency Rate (LTIFR) was 0.75, which was a 6.3% reduction from FY21. Achieved a CIFR of 0.69. This performance reflects our robust critical control management program, ensuring we have effective controls in place to mange our major hazards and our high risks tasks. Qube continues to embed a commitment to providing a safe and healthy workplace for all employees through effective systems, culture, and secure operations. This commitment includes supporting overall health and wellbeing impact, fatigue, mental health, physical hazards, and minimising risk of employees in line with our divisional Safety, Health Sustainability (SHS) plans. 100#102A Plan to Thrive into the Future Going further. A plan to thrive into the future. Thrive defines our purpose, vision & strategy.#103Qube has come a long way in a short time. In just 15 years we've grown substantially. From 30 sites in 2007, to 160+ today. What has driven this success is no secret. It's something that's in our DNA. A willingness to go above and beyond, and to seek solutions outside the box. We have built a well respected, robust and high quality business. We have become a market leader in integrated supply chain logistics. And with plenty of opportunity for continued growth we will build on the momentum we've created to thrive into the future. I'm extremely excited for what the future holds for Qube. Paul Digney Managing Director 1#1042 Looking ahead. VISION Our ambition. Be the best at what we do. We've put a stake in the ground. One about what we want to be, what we value, who we are and what we want to stand for. It's about being our best, and the best at what we do. From our vision to our promise, we have set ourselves ambitions. Ambitions to aspire to. Aspirations to live by. And we've set ourselves priorities. Safety Wellbeing Planet Opportunity > Performance Five things that matter to all of us, at work, and in life. STRATEGY Our focus. PURPOSE Why we get out of bed.. Be the leading integrated logistics provider. for import, export and domestic supply chains in Australasia and select international locations. Helping our customers, communities and industries to thrive. Our people to thrive. Our customers to thrive. Our planet to thrive. Our shareholders and stakeholders to thrive. Our business to thrive. PRIORITIES What supports achieving our purpose. Safety We believe our team should go home unharmed. Wellbeing We believe all deserve to be their best self. Planet We believe in supporting the planet that supports us all. Opportunity We believe in opportunities for our team and customers. Performance We strive for success for all. VALUES What matters to us. PERSONALITY Who we are. Integrity. Reliability. Inclusion. Assured. Can-do. Curious. PROMISE What we stand for. What matters to you matters to us. 3#105Our vision. Be the best at what we do. C Being the best, means being bold. Something we don't shy away from. We've achieved a lot already. We've been agile and ready, and adapted and grown. To go to the next level, we need to stay ahead of the game. By anticipating and innovating. By creating and seizing opportunities. And through collaboration, our people, our customers, our communities, our shareholders and our business will all succeed.#106Our strategy. B Be the leading integrated logistics provider. For import, export and domestic supply chains in Australasia and select international locations. C Our business is diverse and ever evolving. Keeping focused can be a challenge. We need a plan to follow and guide us. One that embraces our safety, wellbeing and the planet as well as the bottom line. The foundation of this plan is our strategy. While it reads as long and very particular, it is for a reason. Everything we do is always considered. Whatever the opportunity, we consult. With an open mind, we confer. Pair our 'can-do' agility with thoughtful selectivity, and there's no stopping us.#1078 Our purpose. Helping our customers, communities and industries to thrive. What we do is so much more than getting stuff from A to B. It's more than just helping customers to do what they do. Wherever we are, we help to keep communities strong and the wheels of industry turning, by building key supply chain infrastructure. We get people what they need, when and where they need it. Whether from here or a far-flung corner of the world. It's a job our people thrive on and are proud to excel at. C о о#10810 Our priorities. Five things that matter. 5 To excel at what we do, we need to take care of what matters. While there's a lot of things that matter, they can be summed up with five words. Safety Wellbeing Planet > Opportunity Performance All have important roles to play. All support one another. No one is more important than another. The following pages expand on our priorities, including what we've been doing and what we're doing next. These medium-term goals will be reviewed over time and reset to ensure we continue to thrive. 11#10912 Safety matters. C STOP The safety risks in our business are very real. It's important that everything we do is done with safety front of mind. We cannot become complacent. We must continually remind ourselves about the importance of working safely, for ourselves, our colleagues, and our loved ones. Zero Harm is something we'll always strive for in both our physical and our mental health. Safety underpins everything we do. What we have achieved. Industry leader in safe operations. National heavy vehicle accreditation. Established a strong culture of safety. Certification of quality management systems. Australian Standards ISO 9001 Built resilience and capability during COVID-19. Market-leading engineering solutions to support safe operations. Certified for 10 years. Australian Standards ISO 45001 & 14001 Established Zero Harm Policy. Investment in innovation to ensure continual improvement. What we're doing next. Continue deep diving the finer detail of how work is done to identify best practice for specific tasks. Strengthening controls to prevent and mitigate rare but potentially major events. Continue promoting proactive risk prevention by focusing on the 'stuff that matters. Strengthen our reporting to improve the effectiveness of crucial systems for managing risk. Continued investment in VR, AR, AI with dedicated internal resources. Strengthening our safety engagement to better manage people risk. Continue providing standardised Safety, Health & Sustainability training including induction for all staff. Simplify and streamline processes. Achieve ongoing improvements in our TRIFR. 13#11014 Wellbeing matters. C We believe we all deserve to be our best. Whoever we are, wherever we're from or whatever we believe in, we all matter. A diverse team is a better team. We also believe in nurturing a workplace where our wellbeing and mental health is as important as our physical safety. A workplace where all of us can achieve our full potential. Good wellbeing supports who we are, as individuals, and as a team. Good wellbeing sets us up for success. What we have achieved. Strengthening our culture through people engagement surveys. Special paid leave for employees' charitable activities. Established unlimited access to personal development through LinkedIn Learning. What we're doing next. Furthering health education via myQube App. Continue to embrace and celebrate diversity in our business. Expanding myQube App content and engagement. Introduced mental health ambassadors across Qube. Launched myQube App. Over 60% engagement. Founding partner of Healthy Heads in Trucks & Sheds at its inception. Continuing to promote mental heath and wellbeing across Qube and the industry. Further develop individual training programs. Seek opportunities to support our commitment to diversity. Strengthened our employee support offering. Commenced reconciliation action plan. Established a robust succession planning program. Improving profile of industry via social partners. Expanding benefits that encourage better wellbeing. Seek feedback from our people about what matters to them in our workplaces. 15#11116 Our planet matters. C We all have a responsibility to take care of the planet that sustains us all. Our industry is facing big challenges. From how we power ourselves, to the footprint we leave. We have already set ourselves an industry-leading decarbonisation plan, with an aspirational goal to reduce our scope 1 emissions intensity to zero by 2050. We're in it for the long haul. It's something we need to achieve. For us, and those who come after us. What we have achieved. Committed to an aspirational target of net-zero scope 1 emissions by 2050. Completed TCFD assessment and our first report. Ensured sustainability is considered in capital expenditure evaluations. What we're doing next. Incorporating climate change weather risks into design systems. Working towards making 95% of prime movers Euro 5, 6 by 2027. Trialling biofuels, hydrogen and battery technology. Installing solar panels on owned infrastructure. Reducing scope 2 emissions by moving to renewable power sources. Strengthen our sustainable waste management and recycling efforts. Continuing to roll out solar panels and LED lighting across our infrastructure. Establishing dedicated internal resources to support ESG reporting. Moving to 100% renewable electricity to sites by 2030*. "Australasia and S.E. Asia Moving to renewable power sources where currently available. Introduce biofuels into prime mover fleet. Installing LED lighting in warehouses and terminals. Making 50% of Qube's LV fleet hybrid or electric by 2027. Partnering with customers and industry to drive technologies to reduce carbon emissions. Seeking out opportunities to reduce emissions across all aspects of our business. 17#11218 Opportunity matters. C Success starts with opportunity. Those you seize. And those you create. We keep our eyes open, ever ready for the opportunity to innovate, to improve and to expand. We offer opportunity to customers with solutions beyond the expected. And we build in opportunity with career paths and training. We believe all should be able to spread their wings and go further. Opportunity feeds the aspirations of all. Our people, customers, and shareholders. What we have achieved. Redefined the traditional supply chain. Expanded our infrastructure for true end-to-end supply chain solutions.* *Australasia and SE Asia Built a market-leading service offering to meet customer needs. What we're doing next. Enhancing our product to even better support our customers. Further invest in the creation of innovative supply chain solutions. Enhancing services for our customers by leveraging innovation and technology. Forged long term customer and stakeholder relationships. Invested in and supported the communities, including committing to a Reconciliation Action Plan. Created a can-do, accountable and innovative culture. Continuing to invest in and support the communities in which we work. Continuing our investment in our technology development team. Developing predictive intelligence to support resource optimisation. Built a high quality management team to deliver the Qube strategy. Invested to build the skills and capabilities of our people to support their growth and ours. Delivered innovations in safety, operations and administration. Delivering further professional development pathways for our people. Continue tapping into our team's collective knowledge, experience and capability to support our growth. Support a diverse and gender balanced workforce to thrive. 19#113Performance matters. C To go further and to hit new heights, means getting things right. When opportunity presents, our vast and experienced team pulls together. With our 'can-do' attitude and know-how we solve problems to make things happen. Big things. Massive things. Not that we rest on our laurels. We'll never stop striving to do better. With smarter technology and innovation. And with relationships that ensure success for our customers, business, shareholders and all our people. What we have achieved. Created a diversified model with double digit revenue and earnings growth. Built a strong balance sheet with high liquidity and diversity of funding sources to support investment through economic cycles. Secured strategic sites in key locations. What we're doing next. Maintain a strong balance sheet to support continued investment through economic cycles. Maintain our lean cost structure with a high degree of variability in the cost base. Grow the business through further investment in existing and new markets. Expanded across markets and geographies, from 30 to 160+ sites. Transitioned supply chains into value chains. Developed effective risk reduction and governance models. Ensure that Qube remains highly diversified and agile. Protect and enhance our reputation as the leading supply chain logistics provider. Retain our focus on risk identification and mitigation, including protections against inflationary and recessionary factors. Forged long term customer and stakeholder relationships. Delivered value for our shareholders and stakeholders. Invested in efficient and transparent data systems. Continue investing to optimise our systems and processes. Continue to deliver for shareholders through long term value creation and dividend growth. Deliver on our ESG commitments including our decarbonisation ambitions. 20 21#114C Our values. Three things we hold dear. Integrity. Reliability. Inclusion. We believe in doing everything we do with honesty, transparency, and commitment. All deserve to be treated with respect. We believe in doing what we said we'd do, when we said we'd do it, safely and securely. Trust is earned and we know how to earn it. We believe in collaboration, a voice for all and diversity of thinking. Working together, and with customers, takes us all further. 222 22 23#115C Our personality. Three words that say a lot about us. Assured. We are confident and considered, Can-do. Curious. never arrogant. We have the collective experience and know-how to answer challenges big and small. We are positive and open-minded, never negative. We relish new challenges as opportunities to learn, grow, and push the boundaries. We are thirsty to know more, to know what's new, and to try new things. We aim to be ahead of the game through innovation and by understanding challenges inside out. 20 24 25 25#116Our promise. What matters to you matters to us. While we're about big tasks, with massive machines and huge networks, at our heart, we are a people business. Where your safety and life beyond work matters. Where your ideas matter. Where opportunities abound amongst a supportive team. A team who knows that what matters to customers, matters to them. A team that wants all to thrive. 26 25 27 22#117Extracted from FY22 Sustainability Report Our Decarbonisation Journey QUBE Right now, it's clear that our planet needs some help. We realise that we have to reduce carbon emissions to ensure our planet thrives. We are aware that diesel is our main source of carbon emissions. In order to reduce carbon emissions, we have to do our part. Which is why we've put in place goals that are the key to our climate change response. While we transition to sustainable technologies and renewable fuels, we are conscious that we need to remain competitive, and our approach considers a journey that is both: to be a supply chain leader to transition away from fossil fuels sets a journey that is responsible and achievable#118Emissions Goals QUBE Sustainable fuels, like biofuels and eFuels in particular, are important to Qube's decarbonisation roadmap and will be part of our continued alternative fuel initiative. We will maintain a dedicated program to drive continued improvement in carbon emissions reduction, energy efficiency and reduction in fuel use. However, our success and ability to do so will be dependent on the availability of alternative energy and at commercial pricing. Our key goals in relation to emissions are: Reduce Scope 1 emissions intensity 50% by 2030 (Compared to 2010 baseline) Introduce biofuels into prime mover fleet 95% of prime movers Euro 5,6 by 2027#119Energy Goals QUBE We're setting out to power Qube owned offices and facilities with 100% renewable energy by the end of 2030. Progress is already being made thanks to renewable power purchase agreements and installation of onsite solar panels. However, our success and ability to do so will be dependent on the availability of renewable energy supplies and at commercial pricing. Our key goals in relation to energy are: Reduce Scope 2 power usage and move to renewable power sources through power efficiency and PPAs 100% renewable electricity for Qube owned recently constructed and new offices and facilities by 2030 Solar panels on Qube owned recently constructed and new infrastructure Qube owned recently constructed and new warehouses and terminals to have LED lighting by 2024#120Climate Change Goals Changing weather patterns and extreme weather events are having repercussions on not just the environment, but also on physical wellbeing. They create an increased risk to supply chain networks. Our key goals in relation to climate change are: QUBE Complete TCFD Assessment and Partial Disclosure Statement FY2022 to help us manage physical and transition risks associated with climate change Incorporate climate change and severe weather risks into building design standards, property evaluations, asset management and capital expenditure evaluations Climate resilience and capability, support resilient supply chain networks by better understanding risk and opportunities. Building capability with our leaders to respond to physical and transition risks, and integrating climate risk into our risk management process#121Innovation Goals C QUBE Sustainable innovation is key to our ability to help both Qube and our planet thrive, which is why we're investing in trials and projects with potential to long-term social and environmental benefits. INNOVATION PATHWAYS: 4 WAYS TO SUPPORT OUR GOALS 1. HEAVY EQUIPMENT TECHNOLOGY ■ We have positioned 85% of our fleet to Euro 5, 6 and adaptable to biofuels ■ Biofuels - pilot projects and commercially viable options are being investigated ▪ Electric - pilot project with domestic manufacturer to trial battery technology for heavy vehicles across long distances in outback terrains is underway 2. THE ENERGY SOURCE* ◉ ■ Electric - assess pilot project outcomes/commercial viability ☐ Biofuels - sourcing of high quality biofuels that are commercially viable Hydrogen - assess pilot project/commercial viability ■ Alternative fuels - assess pilot projects for electric and hydrogen technologies and implement if commercially viable 3. SUPPORTING TECHNOLOGIES/INNOVATION Qube is focused on introducing and partnering with other parties to develop technologies that drive efficiencies including: ■ Heavy vehicle systems management ■ Fuel management ■ In-vehicle enhancements ■ Asset optimisation, through our fleet monitoring centre Operator behaviour training to influence efficiencies ■ Maintenance program e.g. tyre replacement program 4. GLOBAL TRENDS ■ Qube has business resources that track, monitor and engage with the broader industry on developments to deliver Qube goals ☐ Connecting with market leaders in Europe and US to understand global trends *Our success will be dependent on the availability of alternative fuel supplies and at commercial pricing.#122Our Journey to Decarbonisation We know that the main generator of our emissions is diesel, we have established a number of pathways to support our goal to reduce our emissions. QUBE ROAD HEAVY & LIGHT VEHICLES TODAY Heavy vehicles Alternative fuels We have positioned 85% of our fleet to Euro 5, 6 and adaptable to biofuel - Biofuel pilot projects and commercially viable options are being investigated - Electric pilot project with domestic manufacturer to trial battery technology for heavy vehicles across long distances in outback terrains Hydrogen Considering investing in hydrogen pilot projects and exploring solutions, this is seen as a significant enabler to a clean energy future 2022- 2027 95% of prime movers Euro 5, 6 Heavy vehicles Biofuel sourcing of high quality biofuels that are commercially available Electric assess pilot project outcomes/commercial viability Hydrogen - assess pilot project/commercial viability Light vehicles 50% Qube LV fleet is hybrid or electric 2030+ Reduce Scope 1 emissions intensity by 50% Heavy vehicles Alternative fuels Assess pilot projects for electric and hydrogen technologies and implement if commercially viable Light vehicles 70% LV fleet is hybrid or electric Our success will be dependent on the emergence of technologies and the availability of alternative energy supplies and at commercial pricing 2050 Aspirational goal - Net Carbon Zero Net Carbon Zero describes our aspirational goal to reduce our Scope 1 emission intensity (tCO2-e/$M revenue) to zero (compared to 2018 baseline) as we recognise diesel used by our plant and equipment is the main generator of our emissions and unlike Scope 2 emissions are more within our ability to influence Our success will be dependent on the emergence of technologies and the availability of alternative energy supplies and at commercial pricing Light vehicles Undertaking fleet review to identify opportunities to expand hybrid vehicles Develop pilot programs throughout the business#123QUBE RAIL LOCOMOTIVES TODAY Qube has commenced replenishing our locomotive fleet with new locomotives that are adaptable for biofuels. Engaging with customers to seek a modal shift to rail where viable Biofuels ■ Work with suppliers and distributors to trial biofuels Battery/Hybrid Implemented initiatives focused on improved operational efficiency and adoption of technologies that may become available and viable e.g. battery technology Engaged with suppliers and manufacturers to trial hybrid technology that may become available on short haul shuttles i.e. Port Botany to Moorebank Hydrogen ☐ Hydrogen supply chains are yet to be established at scale for rail networks and operators 2022-2027 ■ Locomotive replenishment program (long term/investment viable) ☐ Biofuels sourcing of high quality biofuels that are commercially viable ■ The biofuels use is also dependent on the age/technical capability of the locomotives Battery operated locomotives on short/shuttle runs Pilot project - Retro-fitted batteries dependent on manufacturers and supplier support Hybrid shuttle train trial 2030+ Reduce Scope 1 emissions intensity by 50% Increased number of hybrid locomotives on short/shuttle runs if pilot program is successful Hydrogen ☐ Anticipate significant progress in hydrogen (fuel cell) technology which would allow for pilot projects on the Australian rail ■ Our success will be dependent on the emergence of technologies and the availability of alternative energy supplies and at commercial pricing 2050 ■ Aspirational goal - Net Carbon Zero Our success will be dependent on the emergence of technologies and the availability of alternative energy supplies and at commercial pricing#124QUBE PREMISES LIFTING EQUIPMENT | POWER TODAY Power Introducing renewable energy into power contracts in Qube owned warehouses NSW and VIC ■ Establish energy management working group across the business Explore opportunities to integrate renewable energy into our current energy mix through power purchase agreements ■ Reviewed asset portfolio to ensure consideration of sustainability factors i.e LED lighting, natural lighting in facilities, terminals and warehouses Lifting Gear, Cranes, Straddles, Forklifts, Reachstackers, Frontend loaders Electrical infrastructure assessment has commenced as part of the pilot project for battery electric heavy lifting equipment (reachstackers) 2022- 2027 ■ Continue working towards 100% renewable energy by 2030 in Qube owned offices and facilities ■ LED lighting in Qube owned warehouses and terminals ■ Continue to invest in solar panels across Qube owned warehouses and facilities Lifting Gear, Cranes, Straddles, Forklifts, Reachstackers, Frontend loaders ■ Pilot project - battery electric heavy lifting equipment ■If sites unable to be converted with battery electric or hydrogen, Tier 4 or 5 container handlers will be procured 2030+ ■ 100% renewable energy across our Qube owned offices and facilities ◉ Implementation of battery electric heavy lifting equipment based on successful pilot project Hydrogen lifting equipment likely to be viable at selected locations based on available supply and at commercial pricing ■ Our success will be dependent on the emergence of technologies and the availability of alternative energy supplies and at commercial pricing 2050 Aspirational goal - Net Carbon Zero ■ Our success will be dependent on the emergence of technologies and the availability of alternative energy supplies and at commercial pricing