#1Costa Group Holdings Ltd (ASX:CGC) 1HCY23 Results presentation 31 August 2023 costa well grown Bailang berry farm, China#2costa well grown 1HCY23 Results Presentation " " ◉ Important Notice Important notice and disclaimer: This presentation contains a general summary of the activities of Costa Group Holdings Ltd (Costa), does not purport to be complete and is to be read in conjunction with all other announcements filed with the Australian Securities Exchange (ASX), including Costa's half year CY23 results filed with the ASX on 31 August 2023 and its 2022 Annual Report filed with the ASX on 21 April 2023. Information in this presentation is current as at the date of this presentation (31 August 2023) and remains subject to change without notice. Costa does not warrant the accuracy, adequacy or reliability of the information in this presentation and, to the maximum extent permitted by law, disclaims all liability and responsibility flowing from the use of or reliance on such information by any person. Not an offer or financial product advice: This presentation is not investment or financial product advice or any recommendation (nor tax, accounting or legal advice) and is not intended to be used as the basis for making an investment decision. In providing this document, Costa has not considered the objectives, financial position or needs of any particular recipients. Each recipient should consult with its professional adviser(s), conduct its own investigation and perform its own analysis in order to satisfy themselves of the accuracy and completeness of the information, statements and opinions contained in this document. This presentation does not constitute an offer to issue or sell securities or other financial products in any jurisdiction. The distribution of this presentation outside Australia may be restricted by law. Forward looking statements: This presentation contains forward looking statements and comments about future events, which reflect Costa's intent, belief or expectation as at the date of this presentation. Such forward looking statements may include forecast financial and operating information about Costa, its projects and strategies and statements about the industries and locations in which Costa operates. Forward looking statements can be identified by forward-looking terminology including, without limitation, "expect", "anticipate", "likely", "intend", "should", "could", "may", "predict", "plan", "propose", "will", "believe", "forecast", "estimate", "target" and other similar expressions within the meaning of securities laws of applicable jurisdictions. Indications of, and guidance or outlook on, future earnings or financial position or performance are also forward looking statements. Forward looking statements involve inherent known and unknown risks, uncertainties and contingencies, both general and specific, many of which are beyond Costa's control, and there is a risk that such predictions, forecasts, projections and other forward looking statements will not be achieved. Actual results may be materially different from those expressed or implied. Forward looking statements are provided as a general guide only and should not be relied on as an indication, representation or guarantee of future performance. Undue reliance should not be placed on any forward looking statement. Costa does not undertake to update or review any forward looking statements. Past performance: Past performance should not be relied upon as (and is not) an indication or guarantee of Costa's future performance or condition. Financial data: All dollar values are in Australian dollars ($ or A$) unless stated otherwise. Non-IFRS measures: Throughout this presentation, Costa has included reference to certain non-IFRS measures. Non-IFRS measures have not been subject to audit. A further explanation of these measures is provided in the Appendix. 2#31HCY23 Key Highlights International segment delivered +32.8% revenue growth vs pcp, offsetting a mixed domestic performance, contributing to a Group EBITDA-S of $150.2m, +7.2% versus pcp and NPAT-S of $37.8m. Both China and Morocco contributed to an impressive international performance, further demonstrating the superiority of Costa's blueberry genetics. International segment EBITDA-S was +43.5% versus pcp. As noted at AGM the citrus season was circa three weeks behind starting, meaning virtually all the citrus harvest earnings will fall in 2HCY23. Despite early 2PH citrus season fruit being well received in export markets, there has been a disappointing deterioration in outlook for later season fruit quality contributed to by CY22 weather impacts. Together with southern region volume downgrade and La Nina overhang contributing to fruit size being below expectations, full year EBITDA-S impact is currently estimated at $30m. • Industry wide table grape harvest was circa 40% lower vs pcp due to CY22 weather, with EBITDA-S impact of $9m in the 1H. Costa well grown 1HCY23 Results Presentation 3#41HCY23 Key Highlights Monarto mushroom facility continues to consistently exceed production capacity, averaging 259 tonnes per week over the 1H, +3.3% increase vs pcp. Mernda facility yields were lower vs forecast mainly due to weather impact on compost, contributing to flat category revenue growth vs pcp. • Berry performance was affected by higher industry wide volumes in Q1 during Tasmanian season. Return per kilogram on premium Arana blueberry exports was +20% vs pcp. • Tomato sales volume was positive to forecast, with a greater snacking sales share vs pcp, however lower than expected summer months pricing and demand meant overall aggregate pricing was subdued for the 1H, resulting in lower revenue and earnings vs pcp. Avocado saw a recovery from prior year, with pricing at improved levels vs pcp for most of the 1H. Successful completion of first trial shipment of east coast product to India. Costa well grown 1HCY23 Results Presentation 4#5Update on Paine Schwartz Partners non-binding indicative proposal costa well grown 1HCY23 Results Presentation o As per announcement to ASX on 24 August 20231, discussions with Paine Schwartz Partners (PSP) are continuing and PSP were advised of the latest trading conditions as part of the ongoing due diligence process.² It remains uncertain if a transaction with PSP will eventuate and at what price. o Costa expects to be able to provide an update in relation to the transaction in mid/late September. o Costa shareholders do not need to take any action at this time. 1. ASX Announcement 24 August 2023 - 'Trading update and postponement of 1HCY23 financial results release' 2. The due diligence process was initiated in response to PSP's non-binding indicative proposal to acquire all of the issued shares in Costa which PSP does not already own (as notified to ASX on 4 July 2023). 5#61HCY23 Financial Headlines Transacted Sales ($'m) Total Revenue ($'m) EBITDA-S ($'m) NPAT-S ($'m) 946.3 1,012.2 770.7 708.7 150.2 140.1 40.3 37.8 1HCY22 1HCY23 1HCY22 1HCY23 1HCY22 1HCY23 1HCY22 1HCY23 costa well grown 1HCY23 Results Presentation 6#71HCY23 Segment Earnings Performance International ($'m) 45.6 123.7 86.2 Produce ($'m) Costa Farms & Logistics ($'m) 21.2 8.3 5.3 1HCY22 1HCY23 1HCY22 1HCY23 1HCY22 1HCY23 Costa well grown 1HCY23 Results Presentation 7#8Segment performance Costa's Corindi Berry farm harvest team Costa's Cascade blueberry variety Drosely Delscoll's cest sto Costa well grown 1HCY23 Results Presentation 8#9International Segment A$m Revenue EBITDA-S HY23 HY22 Variance (%) 207.3 156.1 32.8% 123.7 86.2 43.5% EBITDA-S margin 59.7% 55.2% 4.5 pts Transacted Sales 53% 206.4 155.4 32.8% Revenue growth +32.8% 24% 13% 1HCY23 Share of revenue 5% 41% 54% ■China ■African Blue ■Genetics Licensing China African Blue Genetics Licensing Costa well grown 1HCY23 Results Presentation 9#10International Segment - Highlights Jumbo Arana 1HCY23 Share of total volume Costa well grown 1HCY23 Results Presentation China African Blue • 1H Revenue was +53% vs pcp. Strong and sustained demand over the entire season. 46.3% increase in blueberry volume vs pcp, with newly planted Agripark development producing volumes in excess of forecast. Baoshan and Banna farm volumes were also ahead of expectations. Revenue increase driven by higher overall pricing for the duration of the season, helped by reduced volume across the industry. Own farm volumes were 16.8% lower vs pcp, mainly due to northern farm replantings and colder weather over the early part of the year. Newly planted varieties showing positive early promise re yield and pricing, including Cascade, Breeze, Eterna and Velvet. 56% 44% 1H Revenue was +13% vs pcp ■Jumbo Arana ■ Other Genetics Licensing Projected royalty income stream . 1H Revenue was +24% vs pcp. Driven by continuing upward growth trajectory of VIP varieties and higher China volumes. 20 25 28.1% CAGR 15 10 18 • Work continues on expanding global licensing network into potential new regions. 14 11 5 10 0 CY23B CY24B CY25B#11Produce Segment A$m HY23 HY22 Variance (%) Revenue EBITDA-S 493.3 485.4 1.6% 21.2 45.6 -53.5% 1HCY23 Share of revenue EBITDA-S margin 4.3% 9.4% -5.1pts 12% Transacted Sales 738.7 725.5 1.8% 0% Revenue growth +1.6% 12% -1% 15% 11% 6% 6% 23% 25% 13% -11% Citrus Mushroom Tomato Banana ■Berry Avocado Grapes Mushroom Tomato Berry Citrus & Avocado & Grapes Bananas Costa well grown 1HCY23 Results Presentation 11#12Produce Segment - Category Highlights Citrus Berry 1H revenue marginally below (-1%) pcp. Table grape yields affected by downy mildew which also affected quality. Citrus season was circa three weeks behind starting, with approx. 600k less cartons sold in 1H as a result. 2PH Amorette harvest completed in June, with invoicing and revenue booked in 2H. Early season fruit was well received in export markets. Deterioration in outlook for later season 2PH fruit quality contributed to by CY22 weather impacts. This has included the Murcott mandarin crop. Southern region forecast season volumes downgraded and fruit size affected due to La Nina overhang. 2PH and southern region issues contributing to current estimated full year EBITDA-S category impact of circa $30m. Revenue was +12% vs pcp. Challenging period over Q1 of Tasmanian season with crop timing and competitive industry wide volumes pushing prices lower, but overall positive volumes for the 1H. FNQ season saw favourable yield and pricing. Blueberry volumes were +26.1% vs pcp, underpinned by volumes from Tasmania and FNQ, which offset lower volumes from Tumbarumba (southern NSW). Raspberry volumes were +37.2% vs pcp, supported by a strong Tasmanian crop although high industry volumes suppressed average pricing vs pcp. +20% YTD 2PH sales split 1H Arana exports per kilogram return vs pcp 38% 62% Export ■ Domestic costa well grown 1HCY23 Results Presentation >50% of all domestic blueberry plantings now in substrate 12 1. Premium includes Arana and Delight varieties#13Produce Segment - Category Highlights Mushroom Tomato Avocado . • . . • Revenue was flat vs pcp. Monarto averaged 259 tonnes per week over 1H, +3.3% vs pcp. Due to weather impacts on compost, Mernda facility yields were lower than forecast and although largely offset by above forecast Monarto yields, sales volume was marginally below expectations for the 1H. Pre-pack as a share of total sales was +6% vs pcp. Revenue was down 11 % vs pcp. Lower than expected summer months pricing and demand meant aggregate pricing for 1H was subdued. Sales volume was down vs pcp, reflective of softer consumer demand. Production volume positive vs expectations, but still marginally down vs pcp. Revenue was +11% vs pcp. aided in steady pricing recovery from pcp. Own farm sales volume well ahead of pcp. Average tray sale price was +42% vs pcp. Review of portfolio ongoing, with sale of Gunalda FNQ farm completed and focus on driving efficiencies across remaining farms. WA exports to Japan continue to increase YoY. Lobbying ongoing for east coast access to increase export volumes. % of total sales mix Trays 1HCY23 Retail/Wholesale sales mix 1HCY23 Sales mix 14% 86% ■ Retail ■ Wholesale 36% 64% ■ Prepack ■ Loose 1HCY23 Sales Mix Snacking 60% 51% 52% 50% 40% 30% 20% 10% Truss 30% || i L 26% Other 22% 19% 0% 1HCY22 1HCY23 1HCY22 1HCY23 1HCY22 1HCY23 Trays exported to Japan from WA YTD 14,000 12,000 10,000 8,000 6,000 9,600 4,000 2,000 13,250 costa well grown 1HCY23 Results Presentation 13 PCP CY23 YTD#14Costa Farms & Logistics Segment A$m Revenue EBITDA-S 1HCY23 1HCY22 Variance (%) 95.6 90.7 5.4% 5.3 8.3 -36.1% • Highlights • Revenue growth +5.4% vs pcp. Costa well grown 1HCY23 Results Presentation Weakness in wholesale market margins and increased energy costs contributed to reduced EBITDA-S versus pcp. EBITDA-S margin 5.5% 9.2% -3.7pts Farms Transacted Sales 91.7 89.0 3.0% Revenue growth 5.4% 4% 5% Costa Farms Costa Logistics 1HCY23 Share of revenue Market trading was marginally below forecast, with servicing revenue driven by strong berry volumes, including from third party customers which saw increased revenue vs pcp. 18% 82% Costa Farms Costa Logistics Logistics • Additional third-party warehousing volumes contributed to revenue uplift vs pcp. Select Fresh performed below expectations, impacted by the underperformance of retail facing trade. 14#15Financials 1HCY23 Costa well grown 1HCY23 Results Presentation cesto Costa costa 15#16Financial Results Comparison of results for the half year A$m Revenue EBITDA-S HCY23 HCY22 Var 770.7 708.7 62.0 150.2 140.1 10.1 Fair value mvmt in bio assets (14.4) 0.5 (14.9) EBITDA (before material items) Depreciation & amortisation 135.8 140.6 (4.8) (69.6) (65.5) (4.1) Profit on Sale of assets 0.2 0.2 EBIT 66.4 75.1 (8.7) Interest Expense (27.2) (19.2) (8.0) Tax Benefit/ (Expense) 6.2 (5.0) 11.2 NPAT (before material items) 45.4 50.9 (5.5) Material items after tax (1.5) (2.2) 0.7 Non-controlling interest (18.3) (10.8) (7.5) NPAT attributable to 25.6 37.9 (12.3) shareholders Key Highlights Costa well grown 1HCY23 Results Presentation Revenue: +8.7% on pcp • International +32.8% vs pcp. Significant increase in China sales with increased volumes from new Agripark farm (102Ha) and average yields across existing farms above pcp. • Domestic +1.6% vs pcp. Mixed result across all categories with solid increases in berry sales offset by lower pricing outcomes in Tomatoes. Expected increase in Citrus sales delayed due to late start to harvest. EBITDA-S: +7.2% on pcp Outstanding performance from International segment with China delivering a record earnings result and African Blue up versus pcp. • Domestic earnings lower than pcp: delayed start to Citrus season due to CY22 weather conditions; industry wide grape season negatively impacted by mould and yield issues; high industry wide volumes in Q1 in Berries and Tomatoes impacted price and margin realisations. YoY improvement in Avocados after improved average pricing relative to pcp. NPAT-S: -6.2% . NPAT-S (before material items) 37.8 40.3 (2.5) NCI-S (25.0) (15.2) (9.8) • Transacted Sales 1,012.2 946.3 65.9 NPAT behind pcp given higher interest costs. Material Items: $1.5m (after tax) of costs relating to Paine Schwartz proposal; restructure costs; and loss on disposal of Gunalda FNQ Avocado farm. 16#17Cash Flow Costa well grown 1HCY23 Results Presentation A$m EBITDA-S HY23 HY22 Var Key Highlights 150.2 140.1 10.1 Payment for Leases (37.3) (43.7) 6.4 EBITDA-S, Less Payment for Leases 112.9 96.4 16.5 Less: share of JV profit (6.3) (6.0) (0.3) Dividends received from JV's 2.8 3.4 (0.6) Borrowing Costs (excludes amortised (8.7) (5.0) (3.7) costs) Movement in working capital/non-cash items (67.7) (36.2) (31.5) Tax (Payment)/Refund 27.2 (11.0) 38.2 Cashflow from operating activities 60.2 41.6 18.6 Operating capex (33.1) (28.8) (4.3) . Productivity & growth capex (3.7) (24.2) 20.5 Payments for business acquisitions (Incl. (1.5) (1.5) material items) Other 3.2 4.5 (1.3) Positive improvement in net debt movement vs pcp despite working capital build. Traditional 1H working capital investment given timing of Citrus season. This was higher than pcp, due to previously flagged delayed start to citrus harvest. No major growth CAPEX during the 1H. Further expansion in China and Citrus 2PH Conaghans land will incur growth CAPEX in 2H. CY22 tax refund received during 1H. CY23 full year capex forecast at $110m, below previous guidance of $125m. Cashflow from investing activities (35.1) (48.5) 13.4 Payment for Dividends (23.2) (23.2) Loans and Advances 1.1 (1.1) Cashflow from financing activities (23.2) (22.1) (1.1) Net Debt Movement 1.9 (29.0) 30.9 17#18Balance Sheet Costa well grown 1HCY23 Results Presentation A$m Jun-23 Dec-22 Var Jun-22 Var Key Highlights Receivables 131.3 101.9 29.4 137.0 (5.7) Inventories 50.1 40.0 10.1 38.6 11.5 Payables (129.6) (149.4) 19.8 (144.2) 14.6 Provisions (47.6) (45.9) (1.7) (46.5) (1.1) Working Capital 4.2 (53.4) 57.6 (15.1) 19.3 Equity accounted investments 34.8 31.3 3.5 29.9 4.9 $57.6m working capital higher than pcp given Citrus season delays. Lower net debt vs pcp. Higher cash balances largely reflect strong International result and timing of debt pay down, and some cash repatriation from China. Intangibles 292.7 282.9 9.8 284.7 8.0 Property, plant & equipment 805.3 814.3 (9.0) 802.3 3.0 ROU Assets 560.3 552.9 7.4 558.3 2.0 Other assets/liabilities 19.4 30.8 (11.4) 16.0 3.4 Capital Employed 1,716.7 1,658.8 57.9 1,676.1 40.6 Cash 205.8 85.2 120.6 138.9 66.9 Biological Assets 64.0 79.8 (15.8) 69.7 (5.7) Lease Liabilites (582.9) (571.0) (11.9) (570.3) (12.6) Borrowings (555.9) (437.2) (118.7) (467.0) (88.9) Net Assets 847.7 815.6 32.1 847.4 0.3 18#19Capital and Debt Management A$m Net debt Jun-23 Dec-22 Variance 350.1 352.0 (1.9) Net debt/ LTM EBITDA-SL 2.31x 2.46x -0.15x 300 250 200 150 100 50 о Senior debt facility maturity profile (A$m) || 2023 2024 2025 2026 2027 Costa well grown 1HCY23 Results Presentation Key Highlights • Improvement in debt metrics vs pcp: leverage ratio down to 2.31x (Dec-22: 2.46) and small reduction in net debt despite working capital build. Staggered syndicated debt tenure over next 4 years post full renewal in CY22. Deferral of consideration of interim dividend. 19#20Costs/inflation management update Cost contributors 2% 7% 2% 3% 20% 4% 8% 9% 45% ■Materials, Consumables & 3rd Party ■Employee benefits expenses ■ Occupancy expenses ■Freight and cartage ■Leasing expenses ■Repairs & Maintenance ■Legal & Consulting ■Insurance Other expenses 1HCY23 commentary costa well grown 1HCY23 Results Presentation . . • Some significant local input cost inflation pressures experienced over the 1H vs pcp, particularly for chemicals and fertilisers, domestic freight and packaging. Energy costs rose Australia wide over the 1H, with vertical farming (tomatoes & mushrooms) experiencing significant cost increases versus pcp. Labour costs also impacted by rising wages and some supply constraints, although most recent minimum wage decision was within budgeted expectations. Reduced international shipping costs over the 1H which also contributed to a stabilising of pricing for some imported inputs. The full benefit of these reductions and other input costs are expected to flow through in the 2H. Key input costs ($m) 20 OGUNN WW 35 30 25 24.3 21.4 20 19.7 16.3 13.7 13.2 12.8 28.6 24 4.6 5.2 Energy and Gas Chemicals and Freight Intl Shipping Ferts Packaging Material Fuel 20 20 1HCY221HCY23#21Current trading and outlook Costa well grown 1HCY23 Results Presentation 21#22Outlook 2HCY23 Costa well grown 1HCY23 Results Presentation o As noted, a deterioration in late season 2PH fruit quality and southern region volume and fruit size downgrades are currently estimated to have a circa $30m impact on full year EBITDA-S. The contributing factors are considered non-structural with the ongoing health and productive capacity of the trees unaffected. 。 There has been stable weather and positive pricing over the early part of the main (northern NSW) Berry season, together with an expected solid Arana crop, pointing to strong second half berry earnings versus pcp. o Mushroom demand steadily improved consistent with cooler winter months, with demand over coming period expected to level off. Monarto facility production remains ahead of capacity, while Mernda facility volumes continue to improve, aided by more stable compost supply. o The softening in tomato demand is expected to continue through the second half, impacted by higher industry wide volumes, including from field crops. o Insourcing of Pacific Seasonal labour continues, which is contributing to ongoing improved security of labour supply. Taking into consideration the above, full year CY23 EBITDA-S is expected to be ahead of CY22 result. 22#23Appendices costa well grown 1HCY23 Results Presentation Monarto mushroom facility 23 23#24costa CAPABILITY costa well grown 1HCY23 Results Presentation Vision 'To be the leader in sustainable commercial farming of premium quality fresh produce' SUPERIORITY a MBITIC MBITION BJECTIVE SU USTAINABLE COMMERCIAL t ECHNICAL FARMING Executing our Investing in technology, leadership & capability development to deliver our vision. Driving long term ROIC and maintaining a strong balance sheet. optimized yield program on our proprietary technology platform. Leveraging our superior agronomic expertise and genetics to deliver competitive advantage. Expanding our leading go-to market models to win in international markets.#25Planted and production hectares as at end of 1HCY23 Avocado/Banana 8901 hectares Avocado Bananas Hectares 613 277 Berry Domestic 721 hectares Berry type Hectares Soil Substrate Blueberry 459 218 241 Raspberry 182 8 174 Blackberry 55 7 48 Strawberry 25 25 Citrus Morocco 5,6042 hectares 335 hectares Hectares Citrus 4,912 Blueberries Hectares 335 Table grapes 557 Wine grapes 135 China 400 hectares Hectares Blueberries 368 Raspberries 22 Blackberries 10 Costa well grown 1HCY23 Results Presentation Mushroom Three main growing facilities Casuarina (WA) Mernda (Vic) Monarto (SA) Tomato 40 hectares Glasshouse Hectares 40 1. Includes 132 hectares of Riverland/Sunraysia plantings and accounts for sale of Gunalda farm in 1HCY23 2. Includes Conaghans, under option exercised in August 2023 25 25#26Production volumes by category - 1HCY23 versus pcp International segment Morocco/Africa' China Costa well grown 1HCY23 Results Presentation Location Production (tonnes) 1HCY23 Production (tonnes) 1HCY22 Var Variety Production (tonnes) 1HCY23 Production (tonnes) 1HCY22 Var Northern and Blueberries 7,788 5,324 46.3% Southern 5,961 7,167 -16.8% Morocco Raspberries 191 270 -29.2% Third party growers Blackberries 36 27 33.0% (Morocco, 1,942 2,387 -18.6% Southern Africa and Zimbabwe) Total 7,903 9,554 -17.3% Total 8,015 5,621 42.6% 1. All blueberries 26 26#27Production volumes by category - 1HCY23 versus pcp Costa well grown 1HCY23 Results Presentation Berry Domestic Variety Production (tonnes) 1HCY23 Production (tonnes) 1HCY22 Var Blueberries 1,852 1,468 26.1% Raspberries 2,212 1,612 37.2% Blackberries 970 886 9.5% Strawberries 1,470 1,585 -7.2% Total 6,504 5,551 17.1% 24 27#28Production volumes by category - 1HCY23 versus pcp Vertical Farming Costa well grown 1HCY23 Results Presentation Mushroom Tomato Location Production (tonnes) 1HCY23 Production (tonnes) 1HCY22 Location Var Production (tonnes) 1HCY23 Production (tonnes) 1HCY22 Var Casuarina, Mernda & 14,111 14,465 -2.4% Glasshouse and third 11,777 11,933 -1.3% Monarto party sites 28#29Production volumes by category - 1HCY23 vs pcp Citrus Туре Production (tonnes) 1HCY23 Production (tonnes) 1HCY22 Var Grape Costa well grown 1HCY23 Results Presentation Production (tonnes) 1HCY23 Production (tonnes) 1HCY22 Var Navels 19,316 20,366 -5.1% Total¹ 17,607 19,649 -10.3% Mandarins 19,079 17,360 9.9% Balance of crop 6,275 10,592 -40.7% Total 44,670 48,318 -7.5% 29 29 1. Total includes own farm and third party production#30Production volumes by category - 1HCY23 vs pcp Costa well grown 1HCY23 Results Presentation Avocado Location Production (trays) 1HCY23 Production (trays) 1HCY22 Var Own production 928,672 586,170 58.4% Marketed 942,514 1,354,607 -30.4% third party Total 1,871,186 1,940,777 -3.5% 30 30#31Morocco and China planting schedules Morocco China Costa well grown 1HCY23 Results Presentation CY22ha CY23ha CY24ha CY22ha CY23ha CY24ha Planted 332 347 323 Planted 297 400 400 (start of year) (start of year) Production Area Production 332 347 323 Area 297 400 400 New Land 14 17 43 New Land 103 100 Redevelopment/ Redevelopment/ Removed -63 -67 -77 Removed -20 -43 -44 (after harvest) (after harvest) Land redevelopment 64 added Land 26 26 81 Redevelopment 20 43 44 Added Forecast planted 347 323 370 Forecast planted 400 400 500 NB: All data stated as at end of relevant CY 31#32Costa is Australia's leading horticultural company Costa well grown 1HCY23 Results Presentation 8 1 Premier asset base and operational footprint across domestic and international 2 Leading Australian market position in attractive produce categories 6 3 4 Managing and adapting to agricultural risk through our product portfolio, protected cropping and geographic diversity Proprietary intellectual property and brand portfolio with a network of global relationships 5 Superior product offering with distinct consumer appeal Significant earnings capacity from existing footprint in addition to multiple near-term growth projects 7 Attractive financial profile and outlook High quality management team with deep industry expertise 32#33Costa's operations include 7,200+ planted hectares of domestic farmland, 40 hectares of glasshouses, three main mushroom production facilities, and two international berry growing locations. Delivering 52-week supply. Costa well grown 1HCY23 Results Presentation Australia-wide coverage WA NT QLD SA NSW VIC Costa operations Bananas Table grapes Costa Farms Logistics TAS Mushrooms Berries Citrus Tomatoes Avocados Growing international footprint African Blue - Morocco China Australia Production footprint¹ 721 hectares Blueberries 459 hectares Raspberries - 182 hectares Blackberries 55 hectares Strawberries - 25 hectares Tomatoes - 40 hectares Mushrooms - Three main growing facilities in Vic, SA and WA 5,604 hectares Citrus - 4,912 hectares Table Grapes - 557 hectares Wine Grapes - 135 hectares Avocados - 613 hectares Bananas - 277 hectares International Morocco: 335 hectares (all blueberries) China: 400 hectares - 368 blueberries, 22 raspberries, 10 blackberries 1. Data stated as at end June 2023 33 33#34Depreciation, interest, NCI and Capex Costa well grown 1HCY23 Results Presentation Depreciation, interest and NCI ($'m) CY22 Forecast CY23 Capex ($'m) CY22 Forecast CY23 Bank Interest 14.3 C. 27 Operating Capex 67.8 C. 51 Lease Interest Total Interest 28.3 c. 29 Growth Capex 38.7 C. 591 42.6 c. 56 Total Capex 106.5 c. 110² PPE & Other 74.5 c. 82 Proceeds on Sale of assets 4.3 c. 3 Right of Use Asset 54.9 C. 57 Total Depreciation & 129.4 Amortisation c. 139 NCI-S 10.9 c. 20 2. 1. Includes $37m relating to the Conaghan's acquisition Previous quoted capex for CY23 was circa $125m. Updated number reflects changed timing of second half programmes. 34 =4#35Explanation of certain non-IFRS operating measures Term Transacted Sales Material Items 1HCY23 EBITDA before SGARA (EBITDA-S) Net Profit after Tax before SGARA (NPAT-S) Definition Transacted Sales is used by management as a key measure to assess Costa's sales and marketing performance and market share. Transacted Sales represent the aggregate volume of sales in which Costa is involved in various capacities (including sales of third party-grown produce marketed by Costa under agency arrangements), as well as royalty income. Transacted Sales are not considered by Costa to be a revenue measure. There are material differences between the calculation of Transacted Sales and the way in which revenue is determined under AAS. Transacted Sales comprise: •statutory revenue. ⚫gross invoiced value of agency sales of third-party produce. 100% of Driscoll's Australia Partnership sales after eliminating Costa produce sales to the Driscoll's Australia Partnership. Prior to the formation of Driscoll's Australia in 2010, all of Costa's domestic sales and marketing activities for the berry category were managed by Costa. Costs relating to takeover response, impairment losses and restructure costs Earnings before Interest, Tax, Depreciation & Amortisation, the fair value movements in biological assets (SGARA) and Material Items. Net profit after tax attributable to shareholders (NPAT) but excluding the after-tax impact of the fair value movements in biological assets (SGARA) and Material Items. costa well grown 1HCY23 Results Presentation 35#36African Blue Morocco's finest Blueberries Driscoll's Only the Finest Berries TM itor AUSTRALIA'S BEST LOVACADO Aussie avos. From Costa. itor costa well grown Perino 2.PH. AUSTRALIA'S BEST Kansana lady fingers -Poruba - Fresh CORINDI Bhoberries AUSTRALIA MUSH BOOM! TO THE RESCUE ©#37costa well grown Costa Group Holdings Limited