EROAD (ERD) AGM 2026 summary

Opening remarks and agenda

• Meeting opened with strong attendance, both in-person and virtually, with voting on all items available throughout the session.

• Executive Chair addressed shareholders, outlining the agenda: FY26 results, transformation strategy, eRUC, and resolutions.

• Agenda included financial review, transformation updates, regional business reports, eRUC strategy, board resolutions, and Q&A.

Financial performance review

• FY 2026 marked by a significant reset, including a NZD 153 million one-off accounting adjustment, mainly from a North American asset impairment.

• Reported revenue reached NZD 195.2 million, up 0.5% year-on-year, with Australia growing 40%, New Zealand 1%, and North America declining 7%.

• FY26 reported revenue was $195.2m, a 0.4% increase from FY25; ARR was $174.3m, down 0.5%.

• Free cash flow margin normalized at 7.4% (NZD 14 million); normalized EBIT at NZD 2.9 million, reflecting reinvestment in platform stability and customer support.

• New Zealand delivered $102.0m revenue and $10.4m free cash flow; Australia grew revenue by 40.3% to $18.8m but had negative free cash flow; North America revenue declined 7.1% to $74.4m, with negative free cash flow.

Board and executive committee updates

• Several new executives and board members introduced, with most of the leadership team having less than a year in their roles.

• Board renewal in progress, with new appointments and some directors stepping down.

• Executive leadership team restructured, with 8 of 9 roles changed and a new CEO to be appointed.

• Key executive roles filled, including Executive Chair, CFO, CTO, Chief Transformation Officer, and regional general managers.

• Board nominations and director elections discussed, with candidates presenting their backgrounds and priorities.