Airways Statement of Corporate Intent 2019

Airways Corporation of New Zealand Limited Statement of Corporate Intent 2020-2022

Reporting to shareholding Ministers

INTRODUCTION AND NATURE & SCOPE OF ACTIVITIES

In compliance with the Act and in accordance with the requirements of the shareholding Ministers, the following reports will be presented to shareholders:

STRATEGIC CONTEXT

ANNUAL REPORT Within three months after the end of each financial year, an annual report including: X X audited financial statements for the year X X notes to the financial statements including accounting policies X X a report from the Chair which will include: — — a review of operations — — changes in the nature and scope of Airways’ activities — — a summary of achievements measured against performance targets — — comments on the outlook for the next 12 months — — statement of dividend payable INTERIM REPORT Within two months of the end of each half-year, an interim report including: X X an abridged, unaudited statement of Airways’ financial performance and position X X a qualitative report from the Directors on Airways’ performance compared with the objectives set out in the SCI, any significant changes in intent and scope during the half-year and the outlook for the next half-year

QUARTERLY REPORT Within one month of the end of each quarter, a quarterly report comprising a commentary and summary of financial statistics indicating performance against targets for the preceding quarter.

AIRWAYS’ BUSINESS UNITS

FY20 KEY STRATEGIC WORKSTREAM

INVESTMENT PROJECT REVIEW Provide a report covering all post-project

MEASURE OF SUCCESS

investment reviews conducted in the previous calendar year greater than $5 million, by 28 February each year.

FINANCIAL FORECAST BY UNIT ($NZM)

“NO SURPRISES” POLICY Inform the Ministers of any material or significant events relating to Airways that may be contentious or could attract public interest.

DIVIDENDS

REPORTING TO SHAREHOLDING MINISTERS

POLICY FOR SHARE ACQUISITION

COMPENSATION FROM THE CROWN

THE CROWN’S INVESTMENT IN AIRWAYS

APPENDICES