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>SkyCity (SKC) provided a positive set of updates on its strategic initiatives.</li><li>The key new information was that SKC is launching a formal sale process for the Adelaide asset following its strategic review and enquiries from credible parties for the asset.</li><li>SKC suggested 1Q27 trading conditions were in line with the softer conditions experienced in 4Q26 (broadly in line with our estimates).</li></ul>

SkyCity (SKC) provided a positive set of updates on its strategic initiatives.The key new information was that SKC is launching a formal sale process for the Adelaide asset following its strategic review and enquiries from credible parties for the asset.SKC suggested 1Q27 trading conditions were in line with the softer conditions experienced in 4Q26 (broadly in line with our estimates).

Skycity Entertainment

SkyCity All the Cards in Play