MOVE LOGISTICS GROUP – MARKET UPDATE

New Zealand freight and Logistics company, MOVE Logistics Group Limited (NZX: 'MOV') advises that its trading over the course of the first half of the financial year has been materially impacted by the Covid-19 restrictions, in particular the ongoing level 4 lockdown in the Auckland region. The decline in economic activity has had a particular impact on the Fuel division through the fall in consumer demand. In addition, despite being an essential service, the Freight division is feeling the impact of there being less goods in the overall system as a result of lower economic activity. As a consequence, the Company's first half earnings are now expected to be impacted from the difficult trading conditions. Any extensions of the alert 4 restrictions in Auckland, and other restrictions across the rest of the country could have a further impact on the Company's half year performance. Despite the Fuel and Freight divisions not being eligible for Government wage subsidies, the Company is continuing to support its employees with a full workforce being maintained. The Company is taking all the necessary steps to keep the community and its employees safe and healthy, with a number of drivers in particular as essential service workers having to move about the country and across the Auckland border. ENDS End CA:00379380 For:MOV Type:MKTUPDTE Time:2021-09-20 08:31:50