#1ASX Announcement 25 August 2022 ASX Market Announcements Office Australian Securities Exchange 20 Bridge Street Sydney NSW 2000 Full Year Results Presentation Woolworths Group Attached for release to the market is the Full Year Results Presentation for the period ended 26 June 2022. Authorised by: Kate Eastoe, Group Company Secretary For further information contact Investors and analysts Paul van Meurs Head of Investor Relations +61 407 521 651 Media Woolworths Press Office [email protected] +61 2 8885 1033 Woolworths Group Limited ABN 88 000 014 675 1 Woolworths Way, Bella Vista NSW 2153#2Woolworths Group Group Full Year Results 2022 HER O කි Woolworths Group G#3Woolworths Group Full Year Results 2022 Contents F22 Group summary and progress Brad Banducci Group financial results and capital management Stephen Harrison Business performance update Outlook Brad Banducci Woolworths Group 4 18 30 30 46 4. Acknowledgement of Country Woolworths Group acknowledges the many Traditional Owners of the Lands on which we operate, and pay our respects to their Elders past and present as the Custodians of the oldest continuing cultures on the planet. Woolworths Group remains committed to actively contributing to Australia's reconciliation journey. 2#4We create better experiences together for a better tomorrow What we mean by 'We' It all starts with 'We' - all of us working together. What we mean by 'Together' Valuing that we are better together, with each other and in partnership. What we mean by 'Better' Consistently innovating to lead and exceed expectations. What we mean by 'Tomorrow' Understanding the plans we make and the actions we take today, are an opportunity to leave a positive impact for generations to come. What we mean by 'Experiences' Meaningful moments, both big and small to make positive impacts on the lives of teams, customers, communities and partners. Woolworths Group#5Woolworths Group Full Year Results 2022 F22 summary 点 Another challenging year resulting in an inconsistent customer experience and H1 financial performance below our aspirations Our team demonstrated amazing resilience and showed Care for our customers $ 0 Improved second half Group trading performance with H2 EBIT¹ up 8.1% Continued digital and eCommerce growth with material improvement in eCommerce profitability Strong progress on strategic priorities, activating our ecosystem and reshaping our Group for the future Woolworths Group 1 Continuing operations before significant items 4#6Woolworths Group Full Year Results 2022 A challenging operating environment due to supply chain disruption and team absenteeism DC outbound service level (%)¹ 100 90 80 70 60 H2 store team absenteeism² 7% 6.5% 6% 5% 4% 3% 2% 1% 5.8% 5.5% 5.6% 5.3% 4.9% 50 0% Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun January February March April May June F21 F22 .......Pre-COVID baseline July F23 F22 F21 .......F20 Woolworths Group 1 Percentage of DC cartons issued to stores in comparison to ordered cartons, Woolworths Supermarkets only 2 Store absenteeism as a percentage of total hours worked, Woolworths Supermarkets only 5#7Woolworths Group Full Year Results 2022 Customer scores were impacted by disruptions; strong Care scores a highlight Voice of Customer: Net Promoter Score 63. 62 49 45 Jun-21 Woolworths Group WooliesX eCommerce BIG W Woolworths Supermarkets Countdown Voice of Customer: Customer Care Score 64 85 58 88 89 83 82 46 .37 Jun-22 Jun-21 WooliesX eCommerce BIG W Woolworths Supermarkets Countdown Note: Single month scores. Customer Care score measures in Australian and New Zealand Food = Team member cared; BIG W = Friendly and helpful team member 84 82 81 Jun-22 6#8Woolworths Group Full Year Results 2022 Another record year for Digital and eCommerce eCommerce sales ($m) 7,000 6,000 Average weekly digital traffic² (m) 20 20 10 5,000 0 42%¹ F20 4,000 WooliesX 3,000 2,000 1,000 0 F17 Woolworths Group F18 F19 ■WooliesX F20 F21 CountdownX BIG WX eCommerce growth rates WooliesX CountdownX F22 BIG WX 15-yr sales CAGR 2 Average weekly traffic to Woolworths Group's digital platforms, including websites and apps F21 F22 CountdownX BIG WX F22 Profit growth > Sales growth F22 eCom penetration 5-yr sales CAGR 10.3% 41% X 13.6% 33% 14.0% 105% 7#9Woolworths Group Full Year Results 2022 Strong progress on our strategic agenda (i) A Be better together for a better tomorrow Customer Care VOC NPS remained strong despite stock availability and team absenteeism challenges New Woolworths Group brand launched refocusing on purpose. Strong Reputation scores maintained throughout F22 Amazing collective team response to support Lismore and Maryborough communities and reopen in record time Continued progress on Sustainability with 50m meals donated to OzHarvest; renewable energy partnership in SA; announced group- wide removal of reusable plastic bags More to do to improve overall customer experience and progress our inclusion agenda Woolworths Group • • • Connect our customer experience for good food and more everyday Established ConnectedX to connect Group digital platforms and create seamless and integrated customer digital experiences Real-time loyalty platform in rollout, materially increasing Everyday Rewards personalised offer capability and overall experience Delivery Unlimited subscribers doubled compared to the prior year following proposition relaunch Opened latest CFC in Rochedale, Qld in July; first in the network with attached Direct to boot; Caringbah to open by end of August More to do to drive greater integration and seamless customer experiences across all Group brands and platforms in F23 • Reimagine our Food retail proposition Continued to tailor in-store experiences through Core/Value/UP segmentation with Double Bay (UP), Miller (Value), and Port Macquarie (Core) launched during the year Completed 63 supermarket renewals in F22 in Australia and NZ. 500th Woolworths Supermarkets store renewal celebrated at Port Macquarie Transition from Pick up to Direct to boot with 681 stores at year end and increased bays per store. Drives and eLockers in 75 stores in NZ Progressed RT3 rollout in Woolworths Supermarkets and Metro; fundamental change to rostering and task management More to do to complete the roll out of RT3 and embed consistently good ways of working 00 8#10Woolworths Group Full Year Results 2022 Strong progress on our strategic agenda (ii) • • Activate Everyday for our customers Grow food into B2B channels Evolve our Supply Chain and Retail Platforms for the future 6 Everyday Rewards members increased to 13.7m at the end of the year with 2.5m customers in June accessing Boost offers Strong H2 recovery in BIG W with consistently strong customer scores a highlight Everyday Rewards app enhancements including more personalised offers and real-time boosting Everyday Pay and Everyday Market launched with Everyday Extra trial underway More to do to expand and scale our Everyday offering . • PFD joined the Group in F22 with improved momentum in H2 as operating conditions stabilised Solid progress from Woolworths at Work and AGW in H2 as businesses continue to scale Progressed Ampol partnership and rebranded 40 Metro Ampol sites to MetroGo Primary Connect 3PL business continues to grow strongly More to do to continue to scale new businesses . Supply chain significantly tested but maintained flow of key lines into stores MSRDC maintained strong throughput with 2.2m cartons per week in H2. Progressed supply chain modernisation with six new major facilities operating across the Group Launched wiq, the Group's advanced analytics business in partnership with Quantium, expected to deliver material benefits in F23 Strong growth in Cartology in Australia and New Zealand. Launching in BIG W in F23 More to do to improve operating rhythm in Primary Connect and maintain momentum in wiq/Quantium and Cartology Woolworths Group#11Woolworths Group Full Year Results 2022 Woolworths Group Food and Everyday Needs Ecosystem 1 B2C Food Our cornerstone B2C retail food business, famous for consistently good food, good prices, good acts and always convenient B2C Food More Everyday Stores eCommerce Products Services Needs Rewards 2 More Everyday Helping our customers enjoy a little more value, more choice and more good through personalised rewards and complementary everyday services 4 Retail Platforms Technology, digital and analytics enabled platforms delivering value for Woolworths Group and partners Retail Platforms Customer 1st Team 1st 3 B2B Food B2B Food Digital & Data Supply & fulfil Network & property B2B International Wholesale Expanding into new customers, channels and markets with good food, good value and good service Woolworths Group 10#12Now operational Woolworths Group Full Year Results 2022 Good progress on Primary Connect transformation despite various disruptions Melbourne Fresh DC First 5 Star Green Star accredited DC in the network Opened ahead of schedule in H1, fully transitioned in June 2022 Heathwood Chilled & Frozen DC, Qld Melbourne South Regional DC Averaging 2.2m cartons per week in H2 F22 Auckland Fresh DC New 20,000 sqm Fresh DC, opened June 2022 PRIMARY CONNECT In development PRIMARY CONNECT PC3 commercialisation Progress on growth strategy with over 1,200 customers and ~150,000 pallet spaces per week Auburn automated CFC Construction commenced in December 2021, expected to open 2024 Hoppers Crossing (Vic) & Hazelmere (WA) DCs Transitioned to Primary Connect operated sites supporting BIG W Palmerston North DC, NZ Opened August 2021, delivering double the volume of prior site Moorebank NSW NDC and RDC Two co-located DCs across 75,000 sqm, expected to open 2024 (NDC) and 2025 (RDC) 11#13Woolworths Group Full Year Results 2022 Strategic investments in digital, eCom and loyalty starting to scale One of the top digital retailers in Australia A leading loyalty program in Australia Retail media pioneer Largest IP eCom business in Australia #3 retailer by weekly website traffic rankings¹ #1 eCom 1P retailer by revenue³ #2 loyalty program in Australia by size6 # # # # #1 #1 #1 #2 #2 #2 #3 #4 #3 #3 #4 #4 ...and growing 3P everyday market through MyDeal 12 SUPER SAVOURY Total number of physical screens >1,600 ...and growing out of store network through shopper Monthly distribution of Fresh magazine 1.75m fraeds frash Investment in new digital businesses Pet pet culture Marketplace 58 living healthy Health Convenience ideas Your everyday sorted Average weekly traffic to Group digital platforms 19.4m (+3.8m vs. F21) Active weekly eCom customer base4 >Im r eCom truck network5 Direct to boot stores5 2 of the top 5 apps by retailer² (by weekly active users) >1,000 Home Delivery stores5 378 681 CFCs / eStores5 7 Total Everyday Rewards members 13.7m (+628,000 vs. F21) awards r F22 Everyday Rewards boosters in June 2022 2.5m Cartology campaigns across all channels in F22 >8,000 1 Source: SimilarWeb June 2022 2 Source: Data.ai June 2022 3 Source: Internal estimates 4 June 2022: WooliesX and BIG WX 5 Australian Food 6 Source: Latest reported company membership numbers تف EOFY metro60 everyday market from Woolworths pet culture healthylife#14Woolworths Group Full Year Results 2022 Retail media is an increasingly important adjacency Cartology revenue ($m)¹ cartology • 2.3x • Established in 2019 as the Group's retail media business Over 200 team members Revenue doubled since F20 Over 8,000 campaigns delivered across stores, screen, audio, publishing and digital channels in F22 Expanding across the Group ecosystem, completing its first full year in NZ and preparing for BIG W launch Woolworths Group shopper • Proposal to acquire 100% of out-of-home media specialists, Shopper Media Group, announced in July 2022 Over 2,000 screens in over 400 shopping centres, complementary to Cartology's in-store network Subject to ACCC approval and the satisfaction of customary closing conditions Completion expected to occur by the end of calendar year 2022 F20 F21 F22 • In store revenue Digital revenue 1 Cartology revenue considered to be other income for accounting purposes and recorded as an offset to COGS. Includes Australia and New Zealand 13#15Woolworths Group Full Year Results 2022 Good progress in unlocking our potential through advanced analytics wią Woolworths x Quantium. BEBEEB • • Strengthened partnership with Quantium in June 2021 and increased shareholding to 75%¹ Established wiq (formerly Q-Retail), bringing together the best of Woolworths Group and Quantium's advanced analytics and data capabilities to unlock value for Woolworths Group Team and agile operating model established with over 600 professionals Currently working on 20+ use cases across Woolworths Group Progress already made on optimising promotional effectiveness and personalising customer offers, tailored ranging, and enhancing operational efficiencies both in store and online Woolworths Group 1 Shareholding now 77.6% following acquisition of shares on the early exit of non-executive shareholders 14#16Woolworths Group Full Year Results 2022 Building out our marketplace offer Announced proposal to acquire 80% of online marketplace MyDeal in May Established marketplace platform with ~Im customers, 1,900+ sellers offering 6m+ SKUs To accelerate the Group's marketplace ambition, particularly in homewares, furniture and extended range of everyday needs MyDeal range to complement BIG W existing general merchandise offer to give customers More Everyday Share of non-food retail sales via marketplaces in Australia well below other mature markets Strong opportunity to unlock value within MyDeal through the Group's platforms and capabilities ACCC approval announced 12 August 2022. Scheme meeting for MyDeal shareholder approval scheduled for 6 September 2022 Woolworths Group MyDeal 15#17Woolworths Group Full Year Results 2022 Consistent progress on our sustainability goals' People Making a positive change to the future of our people, our partners and our communities Planet Ensuring we leave the environment better off for future generations 000 Product Having a positive impact on people and the planet through the product and services provided AWEI Gold Tier status achieved in 2021 11.13 Total recordable injury frequency rate ▼9% from F21 31% reduction in scope 1 & 2 emissions from 2015 baseline 100% green electricity in South Australia from July 2022 >10,000t virgin plastic packaging reduction ▼22% vs F18 baseline³ #1 Australia's Healthiest Supermarket Own Brands third year in a row $41.4m direct community contribution ▲ from $34.9m F21 $2.7m invested in digital accelerator programs² 100% Woolworths Supermarkets and Countdown stores with food rescue partners as at 30 June 55 suppliers across 6 priority categories engaged in scope 3 emissions program 100% own brand whole shell eggs cage free >19m pieces of free fruit for kids 1 Certain comparative amounts and baselines have been restated to conform with the current period's presentation due to acquisitions, demergers and restructures Woolworths 2 part of our future of work program aimed at improving digital capabilities through pilot programs, including user experience and user interface design, product management and software engineering Group 3 Woolworths Supermarkets and Metro Food Stores only 4 The George Institute for Global Health's FoodSwitch: State of the Food Supply report (2019, 2020, 2021) 16#18Woolworths Group Full Year Results 2022 Contents F22 Group summary and progress Brad Banducci Group financial results and capital management Stephen Harrison Group financial results COVID costs Key balance sheet metrics Capital management framework Cash flow summary Capital expenditure Capital management Business performance update Outlook Brad Banducci Woolworths Group 4 18 30 46#19Tam PiVers & Low lines Saf QuinisTO Cages Mon De Fr Sa S LSV SHO Pron Cerstock Financial Results and Capital Management Sarah C Sujan#20Woolworths Group Full Year Results 2022 F22 results summary $ MILLION Continuing operations before significant items Sales EBIT NPAT attributable to equity holders of the parent entity Basic EPS (cents) Group before significant items (including Endeavour Group in F21) Sales EBIT F22 F21 (52 WEEKS) (52 WEEKS) CHANGE 60,849 55,733 9.2% 2,690 2,764 (2.7)% 1,514 1,504 0.7% 124.0 119.6 3.6% 60,849 67,317 (9.6)% 2,690 3,663 (26.5)% Group after significant items NPAT attributable to equity holders of the parent entity Basic EPS (cents) 7,934 2,074 282.5% 649.6 165.0 293.7% Final dividend per share (cents) 53 55 (3.6)% Total dividend per share (cents) 92 108 (14.8)% Total dividend per share (cents) – excluding Endeavour Group 92 91 1.1% Woolworths Group 19#21Woolworths Group Full Year Results 2022 Strong EBIT improvement in H2 due to Australian Food recovery Group sales and EBIT¹ H2 F22 F22 $ MILLION H2 F22 SALES CHANGE H2 F22 EBIT CHANGE F22 SALES CHANGE F22 EBIT CHANGE Before significant items Australian Food 21,681 5.6% 1,203 9.7% 45,461 4.5% 2,420 0.3% Australian B2B2 1,984 235.7% 24 n.m. 3,963 224.2% 42 242.4% New Zealand Food 3,254 2.1% 105 (32.2)% 7,092 6.6% 296 (11.9)% New Zealand Food (NZD) 3,536 3.1% 116 (30.8)% 7,563 5.8% 316 (12.5)% BIG W 2,083 4.0% 30 (23.5)% 4,431 (3.3)% 55 (68.2)% Other 2,3 (47) (53.1)% (54) (36.2)% (98) (58.0)% (123) (27.8)% Continuing operations before significant items³ 28,955 10.5% 1,308 8.1% 60,849 9.2% 2,690 (2.7)% Woolworths Group 1 Restated to conform with the new structure of the Group, which reflects the establishment of the new Australian B2B segment 2 Revenue from the sales of goods and services in Australian B2B includes $302m of freight revenue relating to transportation of the Group's own products (F21: $251m). However, at a Group level, this is classified and recognised as a reduction in cost of sales. As a result, Other sales has been reduced by $302m (F21: $251m). This has not resulted in a change to EBIT at a Group level 3 Other comprises Quantium, which is not considered a separately reportable segment, as well as various support functions including property and Group and overhead costs, the Group's share of profit or loss of investments accounted for using the equity method (including Endeavour Group), and consolidation and elimination journals 20#22Woolworths Group Full Year Results 2022 Improved sales momentum in H2 in Australia; cycling tough comps in Q1'23 in Food Australian Food comparable sales New Zealand Food comparable sales ■F20 16% 11.8% 10% 6.5% 4% 7.3% F21 F22 10.5% 4.4% 3.7% 2.7% 1.9% 9.1% 14% I F20 9.0% 8% 5.8% 6.0% 4.8% 4.5% 5.2% 0.8% 2% F21 13.4% F22 13.9% 3.1% 1.4% -4% -4.2% -2% -0.5% -10% -7.5% Q1 Q2 -2.5% Q3 Q4 Q1 Q2 Q3 Q4 7.2% 4.6% 4.1% 4.6% 7.4% 3.4% 3.0% 3.7% 2-YR Avg Growth 3-YR Avg Growth 2-YR Avg Growth 3-YR Avg Growth 30% 22.3% 20% 10% 4.4% 0% -10% -20% -16.8% Q1 2.7% BIG W comparable sales F20 3.2% 21.0% 2-YR Avg Growth F21 F22 30.5% 20.0% 9.9% 11.9% F22 PIO COVID restrictions timeline NSW/Vic NZ F21 Vic NZ SA NSW WA/ Vic/ Qld WA NZ -1.8% -3.4% -9.4% F20 22 Q2 Q3 9.6% 8.8% Q4 11.0% 3-YR Avg Growth Vic NSW WA Initial public health orders - Aus & NZ Vic JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN 21#23Woolworths Group Full Year Results 2022 Group COVID costs up on H2'21 but materially below H1'22 22 222 F22 H2'22 Q4'22 Q3'22 HT22 F21 H2'21 $ MILLION Cleaning and PPE Contractors and security Team costs¹ Supply chain COVID costs before discretionary payments (52 WEEKS) (25 WEEKS) (12 WEEKS) (13 WEEKS) (27 WEEKS) (52 WEEKS) (25 WEEKS) 47 7 4 3 40 116 25 13 2 2 11 20 7 109 24 12 12 85 70 70 10 119 50 50 2 482 69 73 12 288 83 18 65 205 279 54 Team discounts, incentives, recognition payments and donations³ 35 1 1 34 53 1 Total COVID costs4 323 84 18 66 239 332 55 COVID costs (% of sales) 0.5% 0.3% 0.1% 0.4% 0.7% 0.5% 0.2% 1 Represents incremental team members, leave costs and roles, to support COVID crisis management and customer and team safety (and excludes any incremental variable cost driven by higher sales). Does not include team absenteeism costs in stores and supply chain Woolworths Group 2 Supply chain costs in Q3 predominantly reflect the cost of RAT testing 3 Cost of team discounts offset against sales 4 Includes Endeavour Group costs of $20m in H1 F21 and $8m in H2 F21#24Woolworths Group Full Year Results 2022 Lower average inventory days due to strong sales despite inventory build in H2; ROFE impacted by higher funds employed and flat EBIT Average inventory days¹ Days Normalised ROFE² Percentage (%) 39.0 39.5 37.2 37.0 36.0 36.2 31.5 31.0 30.0 30.0 F18 F19 F20 F21 F22 Continuing operations Group Average inventory days from continuing operations decreased by one day to 30 days due to higher sales during the year. Group inventory days also benefitted from demerger of Endeavour Group 1 Average inventory days calculated on a rolling 13-month basis 16.8 15.1 13.7 13.7 F21 Continuing operations Group F22 F22 ROFE from continuing operations was 13.7%, 3.1 pts below the prior year reflecting higher funds employed and lower EBIT 2 Normalised to exclude the demerger distribution liability relating to Endeavour Group of $7,870 million 23#25Woolworths Group Full Year Results 2022 Woolworths Group capital management framework Investment proposition Capital allocation to sustain business and support shareholder returns One of Australia's leading and most trusted brands Leading market position in Food & Everyday Needs Growth opportunities in eCom and adjacencies Cash generated by operating activities of $4.8b Defensive characteristics through the cycle Strong cash flow from AUS and NZ businesses Strong operating cash flow generation Sustaining capital Adjusted cash realisation ratio of 86% Dividend per share of 92c, up 1.1% on F21 (ex EDV) Typically 70-75% dividend payout (fully-franked) Free cash flow Disciplined capital allocation to manage free cash flow Investment in growth Organic and inorganic growth that exceeds minimum return hurdles Debt reduction Improve credit quality and capacity to invest for the future Return excess capital Special dividends or buy-backs to distribute excess cash and franking credits to shareholders $525m on growth projects $1.6b refinanced at lower rates $2b share buy-back Solid investment grade credit rating 24#26Woolworths Group Full Year Results 2022 Net cash outflow due to investment and capital management F22 F21 $ MILLION (52 WEEKS) (52 WEEKS) CHANGE EBITDA continuing operations 5,052 4,902 3.1% EBITDA discontinued operations 6,387 1,428 n.m. Group EBITDA Working capital and non-cash movements - continuing operations 11,439 6,330 80.7% (235) (281) (16.4)% Working capital and non-cash movements - discontinued operations Cash from operating activities before interest and tax (6,387) 113 n.m. 4,817 6,162 (21.8)% Cash from operating activities before interest and tax-cont. ops 4,817 4,621 4.2% Interest paid - leases (542) (687) (21.1)% Net interest paid - non-leases (59) (113) (47.8)% Tax paid (838) (738) Total cash provided by operating activities 3,378 4,624 13.6% (26.9)% Total cash used in investing activities (2,457) (2,200) 11.7% Cash flow before lease payments, dividends, share payments and proceeds from loans to related party 921 2,424 (62.0)% Repayment of lease liabilities (1,019) (1,158) (12.0)% Dividends and payments for shares held in trust (1,137) (1,331) (14.6)% Proceeds from loan to related party 1,712 n.m. Payments for share buy-backs Net cash flow (2,000) n.m. (1,523) (65) n.m. Adjusted cash realisation ratio (CRR) Woolworths 1CRR adjusted for non-cash gain on demerger of Endeavour Group of $6,387m Group 86%1 97% Onects loading and mac Growth aspertunites trusted position in Fand Sverythy Noch adjac characteri Pengecycle Sustaining ceba Invament in growth Strong parating cash tow generation ALNZ ba Free cash flow Typically 70-75% dhidend cytat il-furled Deaction Organic and inorganise that mumur hurtled Imore grad quality and casach to ived for the fal Retur excess capital Si to disubue escess casharit manking meiste EBITDA - continuing operations increased by 3.1% driven by Australian Food EBITDA increase Working capital and non-cash outflow due to higher inventory, receivables and non-cash put option revaluation Lower interest paid reflects demerger of Endeavour Group and refinancing at lower interest rates Higher tax paid due to higher profit in F21 (including Endeavour) Capex included in total cash used in investing activities is discussed on slide 26 Lower lease payments due to Endeavour Group demerger Endeavour Group intercompany loan repaid on 28 June 25#27Woolworths Group Full Year Results 2022 One of Aus crusted brandi Lenke coction in Feed Everyday Needs Susan racial adjacencias chama through the cyde String operating cash tow generaron Free cash flow Strash few fort ALS and Z sinesses Typically 70-75% didend you tuly-fonied Operating capex marginally below F22 guidance of $2b Group capex (continuing operations) Sustaining capex Investment in growth Organic and prior that ascach minirus cum buclas Debt reduction Imorous dit quality and capatit/te iment for the fuc Return excess capital Special dividends or buybacks синен ветить нау crata havahaldar $ MILLION Sustaining capex Growth capex Operating capex Property development and acquisitions 537 418 $ MILLION F22 F21 F22 F211 SIB 242 215 1,396 1,228 Renewals 423 352 525 528 Supply chain 358 232 IT 197 253 1,921 1,756 Productivity 176 176 Growth capex Gross capex 2,4582 2,174 $ MILLION F22 F21 New stores 111 110 Property sales Group net capex Net lease asset additions³ (332) (320) Digital 121 140 eCom 147 85 2,126 1,854 Other growth 146 193 542 505 Sustainability capex4 Woolworths Group F23 operating capex expected to be ~$2b 1 Re-presented following the classification of Endeavour Drinks and Hotels as discontinued operations in F21 2 Gross capex includes $51m attributable to the acquisition of PFD 3 Lease asset additions (excluding acquisition of businesses) less terminations 4 Sustainability capex included in sustaining and growth capex. Includes capex on direct sustainability initiatives as well as initiatives with a strong sustainability benefit $150m including refrigeration, solar and energy management 26#28Woolworths Group Full Year Results 2022 Dividend and shareholder returns 27 27 92 cps full year dividend Dividends (cents per share) 108 94 17 92 53 48 51 53 91 46 40 F20 F21 $3.2b returned to shareholders in F22 Shareholder cash distributions paid ($m) 3,170 2,000 39 1,297 1,277 1,170 F22 F20 F21 F22 Fully franked final dividend of 53 cps, up 3.9% on F211 Full year dividend of 92 cps; up 1.1% on F211 74% pay out ratio DRP satisfied via new share issuance, no discount • $2b off-market buy-back completed in October 2021 following demerger of Endeavour Group $3.2b returned to shareholders in F22 Interim Final Non-recurring Endeavour Group Woolworths Group 1 Excluding the Endeavour Group contribution in the prior year Ordinary dividend Share buy-back#29Woolworths Group Full Year Results 2022 Creat lafgew trusted bands ading mere potonin Food & Everyday Needs Growth tunisia Inacam and ajacances Deve chascades through the cycle org cash row from ALS and NZ businesses Strong operating cash flow generation Sustaining ( Free cash flow Tyday 70-75%vidend outlandi Strong funding profile with substantial available liquidity Investment in growth Ongine and ineegand growth dat exceeds minimum retur hurdles part reduction Ingall qualityand capity invest for the future Return excess capital Spauld check to diet route ces cash and ranking 1,200 Debt maturity profile ($m)1 800 400 Mix by interest type² 61% 39% F23 F24 F25 F26 F27 F28 F29 F30 F31 F32 ■ Floating Fixed ■Capital Markets debt Bank debt - drawn A solid investment-grade credit rating S&P: BBB (stable outlook)³ Moody's: Baa2 (stable outlook)3 There is currently significant headroom above thresholds for current ratings • . Sources of funding and liquidity remain strong, with total committed undrawn bank facilities of $2.5b4, in addition to cash Weighted average maturity of 4.0 years4 Weighted average cost of borrowing for F22 of 2.02% compared to F21 of 2.72% In Q2 F22, the Group successfully completed $1.6b of Sustainability Linked Bonds In Q4 F22, the Group entered into $1.25b of bilateral revolving bank facilities refinancing existing $1.2b bilateral revolving facilities which have been cancelled F22 net debt (excluding lease liabilities) of $3.3b (F21: $1.9b). Including lease liabilities, total net debt of $15.8b (F21: 13.9b) Woolworths Group 1 Bank debt drawn as at 26 June 2022 under short-term uncommitted facilities included in F23 maturities. Excludes lease liabilities and undrawn committed bank debt 2 Drawn committed debt only as at 26 June 2022 3 Credit ratings issued by a credit rating agency which holds an Australian Financial Services Licence authorised to issue credit ratings to wholesale clients only and are published for the benefit of the Group's debt providers 4 As at 26 June 2022 28#30Woolworths Group Full Year Results 2022 Contents F22 Group summary and progress Brad Banducci 4 Group financial results and capital management Stephen Harrison 18 Business performance update Outlook Brad Banducci Woolworths Group 30 46 29 29#31Woolworths The fresh food people#32Woolworths Group Full Year Results 2022 Australian Food F22 FINANCIAL METRICS Total sales ($m) EBITDA ($m) EBIT¹ ($m) Gross margin (%) CODB1 (%) EBIT to sales¹ (%) Sales per square metre ($)² ROFE (%)1,3 F22 SUSTAINABILITY METRICS Scope 1 & 2 emissions (tonnes)4 Before significant items 2 Sales per square metre has been restated to exclude Australian B2B and non-sales area of customer fulfilment centres 3 Prior period funds employed and return on funds employed have been restated to exclude the new Australian B2B segment 4 Restated to exclude emissions from Australian B2B F22 F21 (52 WEEKS) (52 WEEKS) CHANGE 45,461 43,509 4.5% 4,055 3,954 2,420 2,413 2.5% 0.3% 30.4 29.7 74 bps 25.1 24.1 96 bps 5.3 5.5 (22) bps 18,391 25.1 17,948 2.5% 26.4 (1.3) pts 1,711,319 1,728,670 (1.0)% Woolworths The fresh food people 31#33Woolworths Group Full Year Results 2022 We are reimagining Woolworths for the future Build advocacy as Today's Fresh Food People Caring for our communities and teams $4m raised for S.T.A.N.D 50m meals donated through OzHarvest partnership Convenient and connected experiences 681 Direct to boot enabled stores at end of F22 2.5m Booster customers through Everyday Rewards at end of June 2022 Greener tomorrow Announcement of phased removal of reusable plastic bags in Supermarkets Roll out of compostable Fruit & Veg barrier bags in all SA stores In Season PRICES DROPPED for Winter LOW PRICE FREEZE Reimagine our core customer offer Special LOW PRICE AD PRICES DROPPED everyday App nawards Get your Woolies worth with today's fresh food people! Get your Woolies Worth 300 winter staples added to Prices Dropped for winter 200 own brand essentials on Low Price Freeze until end of 2022 Tailoring our range (Core, Value, UP) Curated range reviews now cover a quarter of sales, generating incremental sales and GP Strongest market share growth in Value and UP Freshest Fresh Cultivate program for store teams to support freshest quality with a focus on farm to fork Fresh Market Updates to keep customers informed about seasonal produce and availability Simplify our E2E processes, leveraging data and analytics 12 Rolling out new store rostering system RT3, new rostering tool, rolled out to 269 stores, on track for national deployment in H1 F23 Focus on multi-skilling team Building future fit store operations Smart Bundle (including electronic shelf labels and Scan & Go) rolled out to 40 stores in F22 Embedding good stock loss Scan assist technology piloted in 28 stores to support accurate scanning at checkouts 32#34Strong year for Woolworths Food Company's own brands Woolworths Group Full Year Results 2022 macro wholer wholefoods market Black Chia Seeds 350 ge of 33 F22 sales growth +4.8% vs. F21 Just add water 350g Original Pancake Shaker simply shake to plate in 5 minutes! COOK, BBQ, Macro ranges growing strongly COOK/BBQ +7.5% vs. F21 Macro +9.1% vs. F21 macro wholefoods market 100% whole goal 500g 250mL PURE AN Australia's Healthiest Supermarket Own Brand¹ three years in a row Certified Organic stralian lled ats NASAA 1 The George Institute for Global Health's FoodSwitch: State of the Food Supply report (2019, 2020, 2021) 87 750 g award wins across Woolworths Food Company brands in F22 UAT SOURCE OF FIBRE 100% WHOLE GRAIN >900 products redesigned, reformulated or new to market ~1,900 own brand products Orgame Australian Quick Oats on Low Price free from lactose ~120,000 bunch members Celebrated 5 years of our online members-only community dedicated to tasting, testing and talking all things own brand 1L#35Woolworths Group Full Year Results 2022 We continue to evolve our network eStore GOURMET TOMATOES Our Double Bay store is trialling new ways to reduce plastic asse $16 34 Opened 11 net new stores and completed 60 renewals across Woolworths Supermarkets and Metro Food Stores, bringing the total store network to 1,085 Launched new eStore in Maroochydore, Qld in Q1 F22 supporting up to 4,000 orders per week Opened latest CFC in Rochedale, Qld in July 2022; commenced construction on Auburn automated CFC set to open in 2024 Sto save at Woolworths Port Macquari PRICES DROPPED LOW PRICE You'll always find We've dropped the forg low shelf prices on hundreds of everyday items, every time you shop. prices on hundreds of items across the store, so you pick up the savings weekly cl ntb be you -TO- WELCOME WOOLWORTHS PORT MACQUARIE Launched our UP innovation supermarket in Double Bay, NSW with an increased focus on health and sustainability initiatives, optimising macro-space and layout Woolworth BWS faDirect to boot Woolworths Group stores and DCs in South Australia running on 100% renewable electricity from July 2022 Rolled out solar panels to 30 supermarkets and one DC with capacity of more than 6,300 kW Completed our 500th store renewal at Port Macquarie (Core) since the commencement of our renewal program Direct to boot Expanded Direct to boot with 52 net new Direct to boot enabled stores, with a total of 681 stores at end of F22 Working toward plant huit &#36Woolworths Group Full Year Results 2022 WooliesX F22 highlights ConnectedX freshi Digital traffic +22% vs. F21 Active customers +22% +840,000 vs. F21 9:41 Тре loated fathery pe Startpack 12 Pack 1 Rolling out new real-time loyalty platform enabling Rewards members to earn points in real-time and discover personalised product promotions throughout their online journey 1514 02 Pick up (In-store) 1/2 Doper & Hispa wh Grew weekly users of Woolworths app by 53% vs. F21 and connected experiences between Rewards and Woolworths apps Shopping Lists users: +37% Recipes users: +29% Expanded personalised product recommendations in the online journey, based on customer preferences and needs, including personalised search and recipes eComX eCom B2C sales Our Organin everyday rewards +42% (up $1.4b) vs. F21 everyday +52 Direct to boot sites. Now in 681 Supermarkets Investing in our network Opened Rochedale CFC in Qld and Caringbah CFC to open by end of August - 6887 52 35 woolies X EverydayX 13.7 million +628,000 or 4.8% vs. F21 Everyday Rewards app active weekly users +70% vs. F21 and 1m members opted out of paper receipts Launched Everyday Pay nationally within Woolworths Supermarkets, Metro Food Stores and BIG W Uber Deliverin 7 days a Delivery Unlimited B2C paid subscribers doubled vs. prior year following relaunch UberEats & Metro60 Two new convenient propositions launched enabling customers to receive orders in under 60 mins Shop more brands. Enjoy more rewards Launched Everyday Market providing customers with a curated online marketplace, making it easier for customers to earn and redeem points Record Bank for Christmas engagement as more customers choose how to redeem their points#37PRIMARY CONNECT Australian B2B#38Woolworths Group Full Year Results 2022 Australian B2B PFD FOODSERVICES QUICK B2B Food PFD Food Services One of Australia's leading food service suppliers A procurement solution that works and your usiness AMPOL metrogo Woolworths International International export business, exporting a broad range of own brand products Woolworths at Work A B2B procurement solution that supports businesses with a streamlined and seamless shopping experience everyday rewards Save 4 Australian Grocery Wholesalers (AGW) End-to-end wholesale business B2B Supply Chain PRIMARY CONNECT FART OF THE WOOLWORTHS GROUP TRUCK ENTRY Primary Connect (PC3) 3PL supply chain solution for Endeavour Group and other third-party customers Woolworths Group HUP Statewide Independent Wholesalers (SIW) Tasmanian wholesale and logistics business 37#39Woolworths Group Full Year Results 2022 Australian B2B F22 FINANCIAL METRICS Sales ($m) B2B Food B2B Supply Chain Total Australian B2B EBITDA ($m) EBIT¹ ($m) EBIT to sales (%) F22 SUSTAINABILITY METRICS Scope 1 & 2 emissions (tonnes) All businesses delivered sales growth for F22 F22 F21 (52 WEEKS) (52 WEEKS) CHANGE 2,878 618 366% 1,085 604 79% 3,963 1,222 224% 143 45 217% 42 12 242% 1.1 1.0 6 bps 79,276 66,640 19.0% PFD sales momentum improved over the year as restrictions eased. Strong first year within the Group Strong sales growth from Woolworths at Work and AGW despite challenging environment B2B Supply Chain first time inclusion of Endeavour Group partnership revenue. PC3 now servicing over 1,200 customers $ H2 EBIT higher than H1 with F22 EBIT of $42 million 1 After $17m of amortisation on intangible assets on acquisition of PFD 38#40countdown freshchoice supervalue rket vn NICOLE UD#41Woolworths Group Full Year Results 2022 New Zealand Food NZD ($) F22 FINANCIAL METRICS Total sales ($m) EBITDA ($m) EBIT ($m) Gross margin (%) CODB (%) EBIT to sales (%) Sales per square metre ($)1 ROFE (%) F22 SUSTAINABILITY METRICS Scope 1 & 2 emissions (tonnes) 1 Sales per square metre has been restated to exclude non-sales area of customer fulfilment centres F22 F21 (52 WEEKS) (52 WEEKS) CHANGE 7,563 7,146 5.8% 611 633 316 361 (3.4)% (12.5)% 25.4 25.3 17 bps 21.3 20.2 104 bps 4.2 5.0 (87) bps 17,881 7.0 17,272 8.4 3.5% (1.4) pts 63,782 61,802 3.2% 40 countdown freshchoice superValue#42Woolworths Group Full Year Results 2022 F22 highlights Living our purpose Supporting our teams and communities during COVID disruption Digital, eCom and innovation open Metro Foundations for the future 49 5357 5458 61 62 inb 5559 63 56 60 64 F22 eCom MAKE EVERY DOLLAR COUNT Meto COL DELICATESSEN 19.7% sales growth 14.1% Q4 eCom penetration Better everyday for a better tomorrow Boysenberry Kete FEEDING KIWI INNOVATION 75 stores with eLocker and Drive solutions Packaging recyclability Fresh NEW ZEALAND DEEP SEA COD Mormora Selt is the rod for Support for te reo Māori Kete small supplier accelerator program launch Cartology growth, increased mobile app users, Wanaka pilot, Delivery Saver subscriptions Opened Palmerston North DC, Hilton meat plant and state-of-the-art Auckland Fresh DC Increased pipeline for new and renewal stores in F23 Opened second 4 Star Green Star rated Supermarket in Waiata Shores Opened first neighbourhood Metro store in Herne Bay Commenced trial and rollout of electronic shelf labels to 12 stores in F22 Maintained Voice of Supplier leadership countdown 41 freshchoice superValue#43BIGW#44Woolworths Group Full Year Results 2022 BIG W F22 FINANCIAL METRICS Total sales ($m) EBITDA ($m) EBIT ($m) Gross margin (%) CODB (%) EBIT to sales (%) 43 F22 F21 (52 WEEKS) (52 WEEKS) CHANGE 4,431 4,583 (3.3)% 245 348 (29.3)% 55 172 (68.2)% 33.4 33.6 (28) bps 32.1 29.9 223 bps 1.2 3.7 (251) bps (2.4)% Sales per square metre ($) 4,409 4,517 ROFE (%) 4.6 16.5 (11.9) pts F22 SUSTAINABILITY METRICS Scope 1 & 2 emissions (tonnes) 110,390 115,882 (4.7)% BIGW#45Woolworths Group Full Year Results 2022 F22 highlights Substantial progress on our four key strategic priorities in F22 + Good progress in building core foundations to unlock • • best in class availability Improved supply chain resilience through transition to Primary Connect; Hazelmere DC processing capacity increased Core process changes to support stock loss and inventory routines Deployed advanced analytics tools to improve availability Turbocharging digital, upholding a safe and convenient experience • ⚫ Launched BIG W app in April . More eCommerce orders in H1 F22 than entire year in F21 Increased eCommerce capacity with one new eStore and 17 additional Direct to boot sites Continuing to simplify our offer to align with customer shopping missions • · . • . Successfully launched Everyday Value and Tested by Families campaigns Top 10 in Roy Morgan most trusted brands in Australia Developed innovation concept store in Blacktown Store fixture rollout for Apparel (85 stores) and Home (59 stores) Increased scan rates bringing Everyday Rewards to more customers Continuing to demonstrate real care in our communities Toys for Joy recycling program in all stores nationally • • Continued partnership with Clontarf Foundation, which employs young Indigenous men, hiring 41 First Nations students in F22 across 21 BIG W stores Over 11,000 gifts donated and $250,000 in donations to charity for Christmas Care campaign 44 BIGW#46Woolworths Group Full Year Results 2022 Contents F22 Group summary and progress Brad Banducci 4 Group financial results and capital management Stephen Harrison 18 Business performance update Outlook Brad Banducci Woolworths Group 30 46 45#47Woolworths Group Full Year Results 2022 F23 outlook Australian Food sales in the first 8 weeks of F23 broadly flat (-0.5%) reflecting the cycling of two years of COVID. 3-yr CAGR of ~5% remains strong > COVID-related costs expected to continue to decline in F23 as conditions normalise. Focus on productivity following delays over the last three years > Food inflation showing no signs of moderation in the short-term. Focused on providing value to all our customers and ensuring they Get their Woolies Worth > H1 F23 New Zealand Food EBIT expected to be materially below the prior year due to ongoing disruption and team absenteeism. Strong start for BIG W with sales growth of just under 30% in the first 8 weeks of F23 or 3-yr CAGR of ~10% > Focused on returning to stable operating rhythm and balancing the needs of all stakeholders in F23 Woolworths Group 46#48Thank you Get your Woolies worth with today's fresh food people! Woolworths Group#49Woolworths Group Full Year Results 2022 Glossary AGW CAGR Cash realisation ratio Comparable sales Cost of doing business (CODB) Customer fulfilment centre (CFC) Delivery Unlimited DC Direct to boot E2E eStore Everyday Market Funds employed MSRDC NDC Net assets employed Australian Grocery Wholesalers Compound annual growth rate Operating cash flow as a percentage of Group net profit after tax before depreciation and amortisation Measure of sales which excludes stores that have been opened or closed in the last 12 months and demonstrable impact on existing stores from store disruption as a result of store refurbishment or new store openings/closures Expenses which relate to the operation of the business Dedicated online distribution centres Subscription service that gives customers access to free delivery on any Next and Same Day Delivery windows, or reduced fees for quicker delivery options (Delivery Now), free shipping at Everyday Market and 2x Everyday Rewards points on all online orders Distribution centre Where a customer places an order online and drives to a dedicated area where a team member places the order directly in the customer's boot End-to-end Dedicated store for the fulfilment of online orders sometimes incorporating automation An integrated online marketplace that allows customers to shop products from other Woolworths Group brands and partners alongside their groceries Net assets employed excluding net tax balances Melbourne South Regional Distribution Centre National distribution centre Net assets excluding net debt, derivatives and put option liabilities over non-controlling interest Woolworths Group 48#50Woolworths Group Full Year Results 2022 Glossary continued Net Promoter Score (NPS) n.m. PC3 Pick up PPE RDC Renewals Return on Funds Employed (ROFE) RT3 Sales per square metre Scan & Go SIW Total net debt Voice of Customer (VOC) A loyalty measure based on a single question where a customer rates a business on a scale of zero to 10. The score is the net result of the percentage of customers providing a score of nine or 10 (promoters) less the percentage of customers providing a score of zero to six (detractors) Not meaningful Primary Connect third-party logistics A service which enables collection of online shopping orders in store or at select locations Personal protective equipment Regional distribution centre A total store transformation focused on the overall store environment, team, range and process efficiency (including digital) ROFE is calculated as EBIT before significant items for the previous 12 months as a percentage of average (opening, mid and closing) funds employed including significant items provisions A new team rostering and store standards solution in Woolworths Supermarkets (Right team, right task, right time) Total sales for the previous 12 months by business divided by average trading area A contactless shopping experience that allows customers to scan and pay for items as they shop without needing to use the checkout Statewide Independent Wholesalers Borrowings less cash balances including debt hedging derivatives and lease liabilities Externally facilitated survey of a sample of Woolworths Group customers where customers rate Woolworths Group businesses on several criteria. Expressed as the percentage of customers providing a rating of six or seven on a seven-point scale Woolworths Group 49#51Woolworths Group Full Year Results 2022 Glossary continued VOC NPS Voice of Supplier (VOS) VOC NPS is based on feedback from Woolworths Rewards members. VOC NPS is the number of promoters (score of nine or 10) less the number of detractors (score of six or below) A survey of a broad spectrum of suppliers facilitated by an external provider. The survey is used to provide an ongoing measure of the effectiveness of business relationships with the supplier community. VOS is the average of the suppliers' rating across various attributes scored as a percentage of suppliers that provided a rating of six or seven on a seven-point scale 3PL Third party logistics Other non-IFRS measures used in describing the business performance include: Earnings before interest, tax, depreciation and amortisation (EBITDA) Cash flow from operating activities before interest and tax Significant items Fixed assets and investments Net investment in inventory Free cash flow after equity related financing activities excluding dividends Net assets held for sale Net tax balances Closing inventory days Closing trade payable days Average inventory days Change in average prices Trading area Margins including gross profit, CODB and EBIT/(LBIT) Volume productivity metrics including transaction growth, items per basket and item growth Woolworths Group 50#52Woolworths Group Full Year Results 2022 Disclaimer This presentation contains summary information about Woolworths Group Limited (Woolworths Group) and its activities current as at the date of this presentation. It is sourced from and should be read in conjunction with Woolworths' other periodic and continuous disclosure announcements filed with the Australian Securities Exchange, available at www.asx.com.au. Information about Woolworths Group's financial performance is current as at the last announcement provided to the Australian Securities Exchange. This presentation has not been audited in accordance with Australian Auditing Standards. This presentation contains certain non-IFRS measures that Woolworths Group believes are relevant and appropriate to understanding its business. Refer to the Full-Year Results and Dividend Announcement for further details. This presentation is for information purposes only and is not a prospectus or product disclosure statement, financial product or investment advice or a recommendation to acquire Woolworths Group shares or other securities. It has been prepared without taking into account the objectives, financial situation or needs of individuals. Before making an investment decision, prospective investors should consider the appropriateness of the information having regard to their own objectives, financial situation and needs and seek legal and taxation advice appropriate to their jurisdiction. Past performance is no guarantee of future performance. No representation or warranty, expressed or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this presentation. To the maximum extent permitted by law, none of Woolworths Group and its related bodies corporate, or their respective directors, employees or agents, nor any other person accepts liability for any loss arising from the use of this presentation or its contents or otherwise arising in connection with it, including, without limitation, any liability from fault or negligence. This presentation may contain forward-looking statements including statements regarding our intent, belief or current expectations with respect to Woolworths Group's business and operations, market conditions, results of operations and financial condition, specific provisions and risk management practices. When used in this presentation, the words 'plan', 'will', 'anticipate', 'expect', 'may', 'should' and similar expressions, as they relate to Woolworths Group and its management, are intended to identify forward-looking statements. Forward looking statements involve known and unknown risks, uncertainties and assumptions and other important factors that could cause the actual results, performances or achievements of Woolworths Group to be materially different from future results, performances or achievements expressed or implied by such statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date thereof. Woolworths Group 51