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2025 ANNUAL GENERAL MEETING 13 NOVEMBER 2025 For personal use only
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DISCLAIMER Important notice The material in this presentation is general background information about the activities of Inghams Group Limited (Inghams) and its subsidiaries (Inghams Group), and is current at the date of this presentation, unless otherwise noted. The content is information given in summary form and does not purport to be complete. It should be read in conjunction with Inghams Group Limited other periodic and continuous disclosure announcements lodged with the Australian Securities Exchange, which are available at www.asx.com.au. This presentation is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation or needs of any particular investor. This presentation includes non-IFRS information including EBITDA and Underlying, which Inghams considers useful for users of this presentation to reflect the underlying performance of the business. Definitions are included in the Appendix defining the non-IFRS information used. Non-IFRS measures have not been subject to audit. Forward looking statements in this presentation should not be relied upon as an indication or guarantee of future performance, and they involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of Inghams Group Limited. The financial tables presented in this presentation are subject to rounding. 2Inghams 2025 Annual General MeetingFor personal use only
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ACKNOWLEDGEMENT OF COUNTRY We respectfully acknowledge the traditional owners both past and present, as custodians of this land we are meeting on today. 3Artist: Kelly Taylor www.ktaboriginalfineart.storeInghams 2025 Annual General MeetingFor personal use only
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1 2 3 4 AGENDA 4 FORMAL BUSINESS OF THE MEETING Helen Nash GENERAL BUSINESS Helen Nash CHAIR’S ADDRESS CEO & MANAGING DIRECTOR’S ADDRESS Ed Alexander Helen Nash Inghams 2025 Annual General MeetingFor personal use only
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BOARD OF DIRECTORS 5 Helen Nash Non-Executive Chair Chair of the Board of Directors, Chair of the Nomination Committee, Member of the Risk and Sustainability Committee Ed Alexander Chief Executive Officer & Managing Director Michael Ihlein Non-Executive Director Chair of the Finance and Audit Committee, Member of the People and Remuneration Committee, and Member of the Nomination Committee Rob Gordon Non-Executive Director Member of the Finance and Audit Committee, and Member of the Nomination Committee Linda Bardo Nicholls AO Non-Executive Director Member of the Finance and Audit Committee, Member of the Risk and Sustainability Committee, Member of the People and Remuneration Committee, and Member of the Nomination Committee Timothy Longstaff Non-Executive Director Chair of the People and Remuneration Committee, Member of the Finance and Audit Committee, and Member of the Nomination Committee Margaret Haseltine Non-Executive Director Chair of the Risk and Sustainability Committee, and Member of the Nomination Committee Inghams 2025 Annual General MeetingFor personal use only
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CHAIR’S ADDRESS HELEN NASH For personal use only
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CHAIR’S ADDRESS 7 FY25 financial results Safety ESG highlights Board & Remuneration update Looking ahead Inghams 2025 Annual General Meeting CEO succession For personal use only
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CEO & MANAGING DIRECTOR’S ADDRESS ED ALEXANDER For personal use only
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HIGHLY DIVERSIFIED NETWORK Largest poultry company across Australia and New Zealand >30% market share in Australia and New Zealand respectively Geographically diverse network Biosecurity import barrier Ensures continuity of supply to meet our customers’ needs Ability to fully service national and local customer requirements Provides flexibility and greater resilience Enhances management of agricultural and biosecurity risks Strong platform to support future growth FACILITIES/FARMS Farms Further processing Hatcheries Warehouse and distribution Feedmillls Protein conversion plant Primary processing 1 1. Long-term third-party feed supply agreement 9Inghams 2025 Annual General MeetingFor personal use only
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DIVIDENDS PER SHARE PAYOUT RATIO 10 FY25 RESULTS: TIGHT COST CONTROL AND FEED COST SAVINGS OFFSET WOOLWORTHS TRANSITION AND Q4 WEAKNESS XXXX $3,152.4M CORE POULTRY VOLUME REVENUE UNDERLYING EBITDA2 NET PROFIT AFTER TAX3 $236.4M $97.2M461.2KT 19.0 CENTS 72.7% -1.4% on FY241 -1.5% on FY241 +0.04% on FY241 -2.9% on FY241 20.0cps in FY24 73.1% in FY24 Inghams 2025 Annual General Meeting 1. FY24 was a 53-week period – comparison based on normalised (52-week) FY24 result 2. Pre AASB 16 3. Based on Underlying post AASB 16 Net Profit after Tax For personal use only
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REFRESHING OUR LEADERSHIP TEAM 11 Ed Alexander CEO & Managing Director Gary Mallett Chief Financial & Commercial Officer Matthew Easton Chief Executive New Zealand Susy Klein Group Executive Agribusiness and Operations Enablement Caroline Hayes Chief Growth Officer Inghams 2025 Annual General Meeting Clair Stevenson Chief Customer Officer Andrew Lock Chief Technology Officer Grant Kerswell Chief People Officer Jacinda Blair Group Executive Primary Processing and Ingredients Adrian Wilson Group Executive Enterprise Alignment and Corporate Affairs David West Group Executive Value Add and Turkey NEW ORGANISATIONAL STRUCTURE WITH DEEP INGHAMS EXPERIENCE For personal use only
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FY26 TRADING UPDATE | 1ST 18 WEEKS 12 SUPPORTIVE MARKET FUNDAMENTALS AND VOLUME, PRICING AND REVENUE BROADLY IN LINE WITH AUGUST 2025 OUTLOOK; OPERATIONAL IMPROVEMENTS UNDERWAY Inghams 2025 Annual General Meeting Supportive market fundamentals ▪ Stable volumes – Group core poultry up 0.8% vs FY25 exit run-rate ▪ Non-Woolworths Retail growth +16.5% and QSR growth of +8.6% vs PCP ▪ Pricing momentum – net selling price/kg up 1.5% vs FY25 exit run-rate ▪ Wholesale strength – Australian wholesale margins up ~39% vs FY25 1H26 operational cost pressures ▪ Farming performance – higher egg costs and below-target feed conversion ▪ Processing operations: - Customer portfolio and mix changes in 2H25 resulted in temporary production inefficiencies, generating lower yields and excess trim inventories, and therefore higher costs into Further Processing - Turkey production reduced to match demand Operational adjustments delivering results ▪ Corrective measures in place across farming and processing operations, with recent performance showing positive improvements ▪ Cost-out program on-track for $60-80m annualised savings across labour, procurement and operations; feed cost benefits in line with expectations For personal use only
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FY26 OUTLOOK & GUIDANCE UPDATE ▪ Supportive market fundamentals, with stable AU volumes and prices, including stronger Wholesale pricing, and NZ performance underpinned by strong brand performance and favourable market conditions ▪ Reaffirmed FY26 guidance1 for Underlying EBITDA (pre AASB 16) of between $215.0 million and $230.0 million ▪ Expect 1H26 Underlying EBITDA pre AASB 16 of approximately $80.0 million, reflecting the net effect of the abovementioned operational cost pressures on 1H performance before the full benefit of the Company’s corrective actions take effect ▪ Underpinned by: ‐ Corrective actions to address farming and processing performance expected to partially offset 1H26 cost headwinds and will be reflected in 2H26 performance ‐ Earnings profile expected to be significantly weighted to 2H26, reflecting lower FY25 exit run rate, 1H26 AU operational performance, and timing of benefits from operational reset ‐ Core poultry volumes slightly higher and NSP slightly lower; ‐ Positive outlook for Wholesale margin performance; ‐ Operating costs (excluding feed) rising due to inflation and identified operational issues, partially offset by $60-80 million in annualised savings from labour, procurement and site operations initiatives; ‐ Feed costs providing modest benefit to second-half performance; and ‐ Revised capital expenditure of $70-90 million (previously $80-100 million) 13 1. FY26 guidance takes into account several key factors, including current operating performance, full period effect of Woolworths Australia supply agreement, a sustained improvement in the price of key feed inputs and Wholesale channel average pricing somewhat below level of FY25. ADDRESSING NEAR-TERM OPERATIONAL ISSUES THROUGH TARGETED OPERATIONAL INITIATIVES Inghams 2025 Annual General MeetingFor personal use only