CRL Ltd Statement of Intent 2022-2055

City Rail Link Limited Statement of Intent For Financial Years 2022 – 2025

CityRailLink.co.nz

CityRailLink

Introduction This Statement of Intent (SOI) is submitted by the Board of Directors of City Rail Link Limited (CRL Ltd), pursuant to the Crown Entities Act 2004, and sets out the activities and objectives of CRL Ltd for the period 1 July 2022 to 30 June 2025.

Sir Brian Roche Chair

Anne Urlwin Director

2 June 2022

This Statement of Intent acknowledges a significant devlopment involving the four City Rail Link Stations The New Zealand Geographic Board is currently considering a proposal from City Rail Link Ltd and Auckland Transport to provide te reo Māori names for the stations.

The proposed names are

• Maungawhau Station (Mt Eden) • Karanga a Hape Station (Karangahape) • Te Wai Horotiu Station (Aotea) • Waitematā Station (Britomart) The te reo Māori names were gifted to the project by CRL Ltd’s Mana Whenua Forum. They more accurately reflect the geographic locations of the stations and acknowledge mana whenua’s historic ties to Tāmaki Makaurau / Auckland.

The te reo Māori names align with the striking final designs for the Maungawhau Station (Mt Eden), Karanga a Hape Station (Karangahape) and Te Wai Horotiu Station (Aotea) which embed mana whenua’s culture and kaitiaki values.

Te Waka Tūhono - Connecting our history and our future

Purpose This SOI outlines the purpose of CRL Ltd, which is to manage the delivery of a 3.45km-long underground railway and stations to improve public transport in Auckland and contribute to the growth and prosperity of both the country’s largest city and wider New Zealand.

CRL Ltd will also undertake some other limited and associated works to maximise the benefits of the City Rail Link (CRL) project and the efficiency of Auckland’s rail network. It will take a best-for-Auckland and best-value-for- money approach to delivery, acknowledging the 100-year design lifespan of CRL. CRL is transformational and will support redevelopment of Auckland’s inner-city areas from mid-city to Mt Eden for the next 50 years. The project commenced with early works along the CRL corridor in June 2016. It is planned to have CRL completed in late 2024.

This SOI describes CRL’s comprehensive programme of work to help deliver on directions set by the project’s two sponsors, Auckland Council and the New Zealand Government.

The SOI covers a three year period – 2022-25 - instead of the minimum four year period required under s139(2) of the Crown Entities Act (2004). The shorter time-frame reflects CRL Ltd’s intention to complete CRL within the next three years.

CRL Ltd is focused on ensuring it has the people, policies and positive relationships needed to deliver a world-class infrastructure project for Auckland.

City Rail Link Limited | Statement of Intent

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Cut and Cover Tunnel Bored Tunnel CRL

Karangahape Rd

Existing Western Line

Symonds St

Sky Tower Pitt St

Connection with Western Line

Central Motorway Junction

Vincent St Aotea Centre

l unne red T

Bo

Chief Post Office Building

Albert St

3.45km

CONNECTS TO EXISTING RAIL NETWORK

3.0km

2.0km nel

Cut

CONNECTS TO EXISTING RAIL NETWORK

un over T and C

1.0km

Redeveloped

Waitematā Station (Britomart)

Platform 11m below ground

3

MINUTES TRAVEL TIME

New

Te Wai Horotiu Station (Aotea)

3

MINUTES TRAVEL TIME

Platform 13m below ground

New

Karanga a Hape Station (Karangahape)

Platform up to 33m below ground

3

MINUTES TRAVEL TIME

Redeveloped

Maungawhau Station (Mt Eden)

Platform in an open trench

*Scale is accentuated

0km

About City Rail Link Limited The City Rail Link will help a vibrant Auckland grow and prosper. The project will modernise and upgrade the efficiency of the city’s rail network with more trains and faster journeys, improve access to and from the city centre, and act as a catalyst for development.

CRL Ltd was established to manage the construction and delivery of the project and commenced as an operating company on 1 July 2017. Its establishment followed an agreement by Auckland Council (AC) and the New Zealand Government (Crown) to jointly-fund the project. The Crown and AC are the shareholders of CRL Ltd as well as its Sponsors (with the Crown acting through the Ministers of Finance and Transport).

CRL Ltd has a finite life span. It has one key objective - to manage the development, procurement, delivery and completion of CRL. The company will also contribute to the wider social and economic outcomes associated with the project, in line with the Project Delivery Agreement (PDA). Completed assets are to be transferred to the ultimate asset owners (including KiwiRail and Auckland Transport) as approved by the Sponsors. In this regard transfer of the early works assets has been completed and transfer of the first completed assets by Link Alliance has commenced. Beyond project completion and final asset transfers CRL Ltd’s continued involvement will be subject to any residual matters requiring management as decided by the Sponsors.

CRL is an ambitious, complex, and challenging project. The scale of construction has not been undertaken before in a central city environment in New Zealand.

Investment includes building a 3.45km-long twin tunnel underground railway, two new central city underground stations, redevelopment of two existing stations, expansion of platforms to accommodate longer, nine-car trains, and stabling and train turnback facilities elsewhere on the Auckland rail network.

In October 2020, CRL Ltd and the Link Alliance signed a significant variation to the Project Alliance Agreement (PAA) that transferred the C5 (connecting CRL and the North Auckland Line) and C7 (installing and testing rail systems) Contracts into the project’s main C3 works. Combing all three contracts allowed for more seamless construction. The combined value of C5 and C7 - $825m – had been budgeted for and was not additional project cost.

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City Rail Link Limited | Statement of Intent

CRL Ltd and Link Alliance collaborate with several key stakeholders representing local government, transport, business, and iwi to deliver a successful project that is also mindful of the impact construction has on immediate neighbours.

CRL Ltd is responsible for managing a $12 million Targeted Hardship Fund (THF) introduced by the Sponsors to provide financial relief for small businesses impacted by disruption from C3 construction.

The Sponsors also work together in relation to the wider benefits associated with the project, any future rail investment, and the ownership and operating structure of the wider Auckland transport network.

The project is required to remediate land within the project footprint upon completion and integrate the infrastructure into the urban realm. This provides opportunities for optimizing development and the potential for value capture. In 2020, CRL Ltd submitted a proposal to the Sponsors on master planning and value capture opportunities for the project as a matter of priority. This design was confirmed by Sponsors in May 2020 as the agreed solution for the reinstatement of the urban realm and the basis for the development of the CRL Ltd owned land at Mt Eden and Karangahape. Responsibility for leading the next phase of the CRL Development Opportunities Programme has been transferred to Eke Panuku and Kāinga Ora, working in collaboration with CRL Ltd. CRL, like other large-scale infrastructure projects, has been impacted by Covid-19. To maintain construction momentum, the project responded to the pandemic by revising work hours, modifying programmes of work, and introducing new health protocols to keep workers and neighbours safe.

The pandemic’s shadow is a long one with Covid-related lockdowns, constrained working conditions on site, supply chain issues and restricted border access all impacting on the project. The extent of those impacts on costs and construction timetables is the subject of extensive investigation. CRL Ltd will have more clarity around this issue later in 2022.

City Rail Link Limited | Statement of Intent

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Objectives of the City Rail Link CRL is a significant infrastructure project that will enhance the capacity and performance of Auckland rail services and add to the quality and vitality of living and working in Auckland.

CRL’s OBJECTIVES: Improve transport access into and around the Auckland City Centre for a rapidly growing Auckland

Improve the efficiency and resilience of the transport network of urban Auckland

Significantly contribute to lifting and shaping Auckland’s economic growth

Provide a sustainable transport solution that minimises environmental impacts

Contribute positively to a liveable, vibrant and safe city

Contribution to Sponsor priorities CRL contributes to a number of priorities under key themes: • Building a productive, sustainable, and inclusive economy • Improving the wellbeing of New Zealand families • Providing new leadership by Government

Crown priorities The project contributes to objectives in other government plans and strategies. These include: • Government Policy Statement on Land Transport 2021 – 2031 • Auckland Transport Alignment Project 2021 – 2031 • Ministry of Transport’s overarching priorities of supporting economic growth and productivity, delivering value for money, and improving safety • Treasury’s focus on higher living standards • Ministry of Business, Innovation and Employment’s policy on skills, innovation, and productivity in the building and construction sector • Ministry for the Environment’s NZ Waste Strategy, action on climate change objectives and greenhouse gas reduction targets • Ministry of Social Development’s outcomes, including more people in sustainable work and out of welfare dependency • Māori Economic Development Strategy to 2040

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City Rail Link Limited | Statement of Intent

Auckland Council priorities Auckland Council identified six priority outcomes in its Auckland Plan 2050 for Auckland to continue to be a place where people want to live, work and visit. CRL contributes to all of them.

AUCKLAND’S VISION OUTCOMES: WHAT THE VISION MEANS IN 2050 Belonging and participation

Māori identity and wellbeing

Homes and places

Transport and access

Environment and cultural heritage

Opportunity and prosperity

The project also contributes to social and economic objectives in other community and council plans.

These include:

Strategic direction • 10-Year Budget 2021-2031 • Auckland’s Economic Development Strategy • Toi Whītiki Arts and Culture Strategic Action Plan • Te Tāruke-ā-Tāwhiri: Auckland’s Climate Plan • Auckland Waste Management and Minimisation Plan 2018

Spatial • City Centre Masterplan 2020 • The Downtown Framework • Aotea Quarter Framework • The Karangahape Road Plan 2014-2044 • Newton Eden Terrace Plan 2016-2046

Transport strategic • Auckland Regional Land Transport Plan 2021 – 2031 • Auckland Transport Alignment Project 2021 - 2031 • Auckland Central Access Plan

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Risk Management CRL Ltd’s Board and management encourage a culture that is risk aware and seek to understand and mitigate risk where it is identified.

CRL Ltd will maintain an active and regularly updated register of strategic and operational risks and manage those risks through an agreed management process with oversight from management and the Board.

Functions and Operations The City Rail Link project is divided into a series of workstreams. The team structure is amended progressively to match the evolving requirements of the project through its lifecycle.

CRL Ltd’s activities are guided by policies and procedures that ascribe to effective corporate discipline.

The project comprises a number of packages of work, namely:

Contract Works DSC

Completed construction of City Rail Link tunnels below the Commercial Bay retail and tower development site (formerly Downtown Shopping Centre (DSC))

C1

Completed Waitematā Station (Britomart) passenger facility and construction of tunnels from below Waitematā Station (Britomart) to DSC site

C2

Completed DSC to the Wyndham St intersection on Albert St and the pipe jack contract (separable portion), for the relocation of a stormwater line on Albert St and strengthening of the Ōrākei Main sewer that cuts across Albert St

C3*

The design, supply, construction, and installation management of key work disciplines across the full geographic area of CRL from just south of Wyndham St to the North Auckland Line at Mt Eden and two new central underground stations. Works include design and construction of tunnels and the underground stations, connection of tunnels into existing North Auckland Line live rail corridor environment, and rail systems, integration, testing, and commissioning from Waitematā Station (Britomart) to Maungawhau Station (Mt Eden). C5 and C7 are included in the C3 Alliance.

C5*

Connection of tunnels into existing North Auckland Line live rail corridor environment

C6

Completed stormwater replacement in Mt. Eden prior to start of C3 and C5 works

C7*

Rail systems, integration, testing, and commissioning from Waitematā Station (Britomart) to Maungawhau Station (Mt Eden)

C8*

Additional platforms and turnback facilities at the Strand, Ōtāhuhu and Newmarket.

The Strand and Ōtāhuhu works have been completed with Newmarket forecast for completion in Q3 FY2023

C9*

Additional connections and stairs, platform widening and track modifications at the eastern end of Waitematā Station (Britomart)

*denotes construction underway 8

City Rail Link Limited | Statement of Intent

Oversite Development Following the planned review in mid-2020 responsibility for leading the next phase of this programme has been transferred to Eke Panuku and Kāinga Ora, working in collaboration with CRL Ltd. Eke Panuku and Kāinga Ora responsibilities include the development and implementation of the precinct development plan and delivering the staged build out of the CRL Ltd land at the Maungawhau Station (Mt Eden) and Karanga a Hape Station (Karangahape) sites. This includes confirming the outcomes sought by Sponsors, determining a preferred development approach, negotiating development agreements with the private sector and ensuring successful completion.

All consent obligations to deliver the streetscapes, urban realm and below ground infrastructure necessary to enable the Blueprint design (and serve the development sites) remain with CRL Ltd, as do the costs asociated with these obligations.

City Rail Link Limited | Statement of Intent

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Communication and Engagement In addition to its shareholders, CRL Ltd has critical relationships with other key parties and is committed to open and honest communication. These relationships include Auckland Transport, KiwiRail and its operators, mana whenua, adjacent property developers and other interested parties named in consent conditions.

CRL Ltd is proud of its partnership with mana whenua which began in 2012. Over the years the contribution of Māori mātauranga (cultural values) from mana whenua has been significant and has benefited the project as a whole and continues to deliver better sustainability, environmental, design and health and safety outcomes. The CRL Mana Whenua Forum includes eight Tāmaki Maukaurau iwi and provides an effective structure to realise the partnership between iwi mana whenua and CRL Ltd. The Forum has gifted the te reo Māori names for the four CRL Stations and has been actively involved in the designs of the Maungawhau Station (Mt Eden), Karanga a Hape Station (Karangahape) and Te Wai Horotiu Station (Aotea).

The project collaborates with KiwiRail on necessary track and station improvements inside the project construction zone and across the wider network to maximise the benefits of a completed CRL. The close relationship with KiwiRail and Auckland Transport will continue to evolve as CRL’s civil construction works give way to the installation of the rail system – tracks, signals, communication and safety systems, station fit outs and testing.

CRL Ltd also works closely with property owners, business, and residential neighbours, and those who focus on the wider community and the business and development potential of Auckland, including the New Zealand and international construction industry.

Affected property owners have been a core focus for the project through the planning and design phases, and the ultimate users of the CRL tunnels and stations are front of mind in the design and operation of the CRL project.

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City Rail Link Limited | Statement of Intent

In 2021, the Sponsors introduced a $12m Targeted Hardship Fund (THF) for small businesses that qualify for financial relief because they were adversely affected by C3 construction. CRL Ltd is responsible for managing the THF and for providing key information about it.

CRL Ltd has established three key communication principles for its interaction with external parties • Proactive Communication CRL Ltd will promptly inform people affected by City Rail Link to ensure that they hear from the project before they hear from any third party. CRL Ltd will provide information proactively rather than sit back and wait for people to come to it with inquiries. Information will demonstrate that CRL Ltd is upfront and transparent about what is proposed and provide as much certainty as possible while acknowledging that detail relating to construction methodology may not be finalised.

• Language and Style Communications will be straightforward, fact-based, clear, engaging, and interesting. Jargon and bureaucratic language will be avoided.

• Responsiveness Responses will be timely, full, helpful, frank and as detailed as possible. Responses will demonstrate that CRL Ltd is listening, even if agreement cannot be reached. There will be investment in face-toface communication and personal attention.

City Rail Link Limited | Statement of Intent

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Sustainability CRL Ltd aims to achieve sustainability excellence by being careful with the resources the project uses, and by optimising the project’s carbon footprint, avoiding waste, and leaving a positive social and cultural legacy for Auckland.

The use of materials, energy and water will be optimised across the entire lifecycle of the project, from design through to construction and operation. City Rail Link has an aspirational target of zero waste to landfill.

CRL Ltd will also seek to create opportunities to contribute to society through the delivery phase by maximising training and employment opportunities, creating greater diversity in the supply chain and upskilling the workforce.

The project’s sustainability performance is being externally verified using the Australian-based Infrastructure Sustainability Council (ISC) rating tool.

Health, Safety, Environment and Sustainability report

Organisational Health & Capability Capability Development CRL Ltd will support its staff to achieve the company’s objectives and purpose by: • Developing the team for their current roles, providing flexibility to move staff to other roles within the company and preparing staff for their next career steps • Regularly reviewing the capability of its people to align the available skills with the requirements of the project development lifecycles • Achieving high levels of staff engagement • Providing a safe environment for staff • Developing skills required to achieve the company’s objectives in a cost-effective manner • Providing staff with reliable, secure, and cost-effective technology • Providing a sound financial and internal control environment.

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City Rail Link Limited | Statement of Intent

Ensuring CRL Ltd is a Good Employer The successful delivery of the City Rail Link depends on the technical, commercial, and financial expertise of CRL Ltd. It is important that CRL Ltd retains skilled staff, is a good employer and offers an attractive place to work. Consistent with the Te Kawa Mataaho Public Service Commission’s Government Workforce Policy Statement on the Government’s expectations for employment relations in the public sector, CRL Ltd employer policies also aim to ensure equal-opportunity and diversity responsibilities are respected.

The latest employee survey provided consistent results that reassures our leadership team that the company’s engagement strategy is heading in the right direction. The survey results showed a vast majority agreed that CRL Ltd has a clear purpose, and our employees have a good understanding on how their own role contributes to the overall success of the CRL project.

A monthly wellbeing newsletter is circulated to all employees that includes relevant articles, wellbeing initiatives and shares the latest people and project news. Wellbeing activities have included onsite mindfulness training, a financial workshop, health checks and a competitive step challenge. CRL Ltd recognises that wellbeing initiatives can help our people live healthier lives and create positive working environments where individuals can thrive.

City Rail Link Limited | Statement of Intent

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Assessing Performance CRL Ltd has an established baseline of project costs developed under the governance and management of Auckland Transport and summarised in the PDA. Reporting against the baseline assists management and the Board in implementing the project and keeping the Sponsors informed of progress.

In 2019 CRL Ltd announced a revised cost envelope for CRL of $4.419 billion. The revised figure reflected significant changes impacting the project including a rigorous examination by CRL Ltd of costs, changes to the project’s scope, and a competitive construction environment. The Sponsors endorsed the additional funding requested by CRL Ltd. As a Crown entity, CRL Ltd reports regularly to the Sponsors (and shareholders), as set out in the PDA.

Strategic Areas - Outcomes, Target Areas and Measures Health and Safety Outcomes CRL Ltd’s health and safety vision was suggested by mana whenua. It is a Māori proverb credited to Te Puea Herangi.

Mahia te mahi, hei painga hei oranga mo tātou katoa ‘To do the work for the good of everyone’ CRL Ltd has one overarching outcome for health and safety: to build an underground rail link that is safe for constructors, operators, maintainers, and users.

CRL Ltd’s approach to achieving this objective is to adopt activities that enables it to be both a highly engaged and highly informed organisation.

The company has clearly articulated the health and safety requirements necessary to achieve industryleading health and safety performance. In partnership with suppliers, it will support and facilitate the introduction of activities designed to continuously improve health and safety performance.

CRL Ltd will continue to work closely with suppliers to ensure health and safety requirements are being met, and actively seeks to ensure any identified shortcomings are addressed.

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City Rail Link Limited | Statement of Intent

Target Areas Three priority areas are identified where CRL Ltd will work with suppliers to drive health and safety improvements: • Enhance the maturity and effectiveness of safety, health, and environmental management systems • Support and embed safer working behaviours • Enable continuous health and safety improvement through promoting best practice and sharing lessons learnt CRL Ltd will monitor the suppliers annual health and safety improvement programme aligned to priority areas and produce an annual progress review report.

Measures • Maturity assessment of CRL Ltd’s Health & Safety Management System using Risk Management Maturity Model (RM3) • Total Recordable Injury Frequency Rate (TRIFR) • Health and Safety Performance Index (HSPI) • Annual Safety Assurance Summary Report

City Rail Link Limited | Statement of Intent

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Project Delivery Outcome Deliver a safe, operable, and quality underground rail link in a timely manner.

Target Areas • Contract target dates are set out below. Completion means the works are complete (subject to defects liability period of 12-24 months) and the asset involved is available for use. For contracts with KiwiRail as contractors, completion refers to that works are ‘fit for service’. The actual targets for project delivery over the next 12 months are set out in the annual Statement of Performance Expectations.

Contract

Status

Target completion date

DSC

Completed

April 2019

C1

Completed

October 2021

C2

Completed

October 2020

C3

In construction

End 2024*

C5

In construction

End 2024*

C6

Completed

August 2019

C7

In construction

End 2024*

C8

Newmarket in construction

July 2023*

C8

The Strand and Ōtāhuhu completed

January 2019/October 2020

C9

In construction

End 2024*

* All completion dates are currently under review as impacts of Covid-19 (past, present, future) are assessed and quantified.

Measures • Actual completion date of each contract (including relevant separable portions) against target completion date.

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City Rail Link Limited | Statement of Intent

Oversite Development Outcomes Eke Panuku and Kāinga Ora are responsible for the development and implementation of the precinct development plan and delivering the staged build out of the CRL Ltd land at the Karanga a Hape Station (Karangahape) and Maungawhau Station (Mt Eden). Development options are to be presented to sponsors

by Eke Panuku and Kāinga Ora.

Target Areas The target areas to support the ‘oversite development’ outcomes that CRL Ltd remain accountable for are: • All consent obligations to deliver the streetscapes and urban realm to enable the Blueprint design • The below ground infrastructure necessary to enable the Blueprint design.

Measures • Monthly reporting to Eke Panuku and Kāinga Ora led Steering Group.

City Rail Link Limited | Statement of Intent

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Funding envelope Outcomes Deliver the project within the approved funding envelope and achieve value for money through fiscal and budgetary prudence and efficiency. We note that the impacts from Covid-19 are continuing and the resulting additional costs and delays cannot yet be fully determined.

Target Areas • Meet delivery targets within approved Appropriation • Monthly financial reporting on project costs on a cost to complete basis and variance reporting to monthly and yearly budgets • Operate CRL Ltd’s corporate functions within the approved budget

Measures • Project spend versus approved Appropriation • Timely financial and variance to budget reporting • Organisational efficiency benchmarks

Sustainability and social outcomes Outcomes CRL will be designed, procured and constructed in a manner that places a priority on creating the greatest long-term environmental, social, and economic value from the considerable resources needed to deliver the project. This will result in: • An asset that has a carbon footprint optimised over its 100-year design-life • A construction process that minimises the amount of waste sent to landfill • Training and employment opportunities for those experiencing barriers, disadvantage, or discrimination in the labour market • Supply chain opportunities for Māori and Pasifika small and medium size enterprises and socially innovative businesses.

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City Rail Link Limited | Statement of Intent

Target Areas The project will focus on reducing operational and construction resource consumption, strive for zero waste to landfill through construction and deliver on CRL Ltd’s social outcomes strategy.

CRL Ltd has three key sustainability targets across the life of the stations at the Maungawhau Station (Mt Eden), Karanga a Hape Station (Karangahape), Te Wai Horotiu Station (Aotea) sites, the CRL tunnels and rail systems, and the North Auckland Line Connection (C3, C5 and C7) contracts: • An ‘Excellent’ Infrastructure Sustainability (IS) rating • Reducing carbon footprint compared to externally verified base line monthly to track progress • Aspiring to zero waste to landfill In addition, CRL Ltd’s suppliers are expected to deliver on the four key aspects of the social outcome’s strategy: • Employment – maximising training and employment opportunities for those experiencing barriers or disadvantage, with a focus on mana whenua, mātāawaka, Pasifika and youth • Social innovation – creating supply chain diversity by providing opportunities for Māori and Pasifika small and medium-sized enterprises, social enterprises, and socially innovative businesses • Training – building capacity and capability in the workforce by upskilling and reskilling • Future workforce – raising awareness with schools and their students about careers in construction and infrastructure and supporting foundation knowledge and skills

Measures • IS score • Energy-related greenhouse gas emissions and embodied carbon of materials (tCO2e) • Percentage of construction, demolition and office waste diverted from landfill • Number of Progressive Employment Programme rangatahi interns graduating and in employment • Number of contracts awarded with Māori and Pasifika small and medium-size enterprises and socially innovative businesses.

City Rail Link Limited | Statement of Intent

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Communication and stakeholder engagement Outcomes • Mana whenua value the engagement process and view it as best practice • Stakeholders and the wider public feel well informed and are provided with multiple opportunities to participate in the project • There is widespread understanding about the benefits the project will deliver • Impacts on project neighbours are mitigated where possible through proactive communication, activation and business support opportunities • Enquiries are responded to promptly and any issues resolved

Target Areas • Create compelling content regarding the project and its progress • Increased public participation through events, community liaison group meeting, stakeholder presentations and site tours • Positive partnership with iwi through the Mana Whenua Forum and sub-groups • Effective management of the THF

Measures • Track and report on media/social media coverage and output • Organise campaigns and events • Complete Mana Whenua Forum partnership case study and make this publicly available as an industry tool for lessons learnt and best practice • Efficient processing of applications under the THF

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City Rail Link Limited | Statement of Intent

Other Statutory Reporting Requirements Governance and Organisational Form Incorporated under the Companies Act 1993, CRL Ltd is a majority-Crown-owned entity and is listed under Schedule 4A of the Public Finance Act 1989 and Part 2 of Schedule 1 of the Ombudsman Act 1975.

In addition, the Public Finance Act 1989 applies several provisions of the Crown Entities Act 2004 to CRL Ltd, as if it were a Crown entity under that Act. CRL Ltd’s shareholders are the Crown, acting by and through the Ministers of Finance and Transport, and Auckland Council.

The Crown holds 51 per cent of the voting shares in CRL Ltd, and Auckland Council holds the remaining 49 per cent.

CRL Ltd is not a Council Controlled Organisation.

Each shareholder contributes 50 per cent of the cost of the CRL project by way of equity contribution.

Board of Directors CRL Ltd’s Board is committed to a high standard of corporate governance and regulatory compliance in guiding and monitoring CRL Ltd’s activities. The Board is made up of five non-executive directors appointed by the shareholders, following Cabinet and Auckland Council Governing Body approval.

The Board carries out its accounting, reporting, risk management and responsibilities in accordance with legislation. The directors will comply with their obligations under the Companies Act 1993, the Crown Entities Act 2004, the Public Finance Act 1989 and other relevant legislation.

The Chief Executive, who is accountable to the Board, has responsibility for the management, operation, and administration of CRL Ltd. The company has a suite of policies that underpin its objectives and mandate that also provide a link to day-to-day company operations.

Board Committees To aid the directors in carrying out their duties, the Board has two standing committees.

• Audit and Risk Committee, which provides recommendations, counsel and information on accounting, reporting, risk management and responsibilities under legislation.

• People and Remuneration Committee, which provides advice and recommendations on remuneration and human resources policies for CRL Ltd.

Shareholders CRL Ltd maintains relationships with its shareholders in a manner which respects their roles, responsibilities, and expectations.

City Rail Link Limited | Statement of Intent

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Crown Entities Act Requirements CRL Ltd is subject to various sections of the Crown Entities Act 2004 as set out in its constitution, including the collective duties of the Board to the Crown and shareholders, interface with the Companies Act 1993, directions from Ministers to support a whole-of-government approach or under statute, provision of information, employment; and restrictions on financial products, borrowing and giving of guarantees and indemnities.

Other Statutory Requirements In addition to the Crown Entities Act 2004, Companies Act 1993 and Public Finance Act 1989, there are various other acts that apply to CRL Ltd. These include the Anti-Money Laundering and Countering Financing of Terrorism (Requirements and Compliance) Regulations 2011, Crown Organisations (Criminal Liability) Act 2002, Hazardous Substances and New Organisms Act 1996, Land Transport Management Act 2003, and Public Audit Act 2001.

CRL Ltd is committed to complying with its obligations under all legislation.

Under the Public Audit Act 2001, the Controller and Auditor-General is the auditor of CRL Ltd.

Additional Information • Sponsors Agreement • Project Delivery Agreement (as amended) These documents and more information on the project and the company are available on CRL’s website www.cityraillink.co.nz

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City Rail Link Limited | Statement of Intent

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