Tower (TWR) investor relations material

Opening remarks and agenda

• Meeting opened by the chair, welcoming shareholders in person and online, confirming quorum, and outlining the agenda, which included performance updates, strategy, and formal resolutions.

• Chairman and CEO delivered addresses outlining record FY25 performance and future growth positioning.

• Voting procedures and Q&A protocols were explained, with online and in-person participation encouraged.

Financial performance review

• FY 2025 gross written premium rose to NZD 600 million, customer numbers reached 318,000, and record underlying profit after tax was NZD 107.2 million; reported profit was NZD 83.7 million.

• Total FY 2025 dividend was NZD 0.245 per share, with NZD 45 million capital returned to shareholders.

• Management expense ratio held steady at 31.4%, and BAU claims ratio improved to 41%.

• For the first four months of FY 2026, GWP grew 2% to NZD 204 million, with policy numbers up 5% and house policies up 10%; customer numbers reached 323,000 and solvency ratio was 160%.

• Underlying NPAT guidance for FY 2026 is NZD 87–97 million, with a large events allowance of NZD 45 million.

Dividend announcements

• FY 2025 total dividend was NZD 0.245 per share; a final dividend of 16.5 cents per share was paid in January 2026.

• Dividend policy is to pay 60–80% of adjusted earnings, subject to maintaining prudent capital.

• $45 million capital return delivered.