New Zealand Professional Investment Services Firm

Forsyth Barr

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

New Zealand Professional Investment Services Firm, Forsyth Barr

Equity Bottom-Up

<ul><li>Our review of data points and key customer updates suggests solid momentum has continued into 2H26.</li><li>Exchange rates have also moved favourably with the strengthening AU$.</li><li>Rubber export data suggests 2026 volumes to date are the strongest in recent history, with stronger milk prices supporting international dairy demand, up +29% on the prior year, as well as growing momentum in US footwear.</li></ul>

Our review of data points and key customer updates suggests solid momentum has continued into 2H26.Exchange rates have also moved favourably with the strengthening AU$.Rubber export data suggests 2026 volumes to date are the strongest in recent history, with stronger milk prices supporting international dairy demand, up +29% on the prior year, as well as growing momentum in US footwear.

Skellerup Holdings The Herd Still Looks Healthy