#1Bidvest Investor Presentation London, October 2015 New Zealand#2Statement to explain the Business · . Bidvest New Zealand is the market leading wholesale distributor of food and associated products to the Foodservice Industry The business is organised into three divisions: Foodservice, Fresh and Processing 2015 Result Sales 11% Trading Profit 13% Bidvest#3Statistics GDP Economic Overview 3% Unemployment 5.7% Inflation 0.4% Interest rate 2.75% Trends Population growth • Tourism strong Government in surplus Outlook: OVERALL POSITIVE Bidvest#4Suppliers Customer Bidvest Commercial Our Business Culture • Simplify our customers lives Make it easy to buy • Lead time • Product range ● Frequency Technology bp: SUBWAY ACCOR Domino's eat fresh. Hilton HOTELS & RESORTS#5Our Business Fonterra™ Dairy for life Unilever Food Solutions Red Bull McCain Nestle • Respect them - they are our allies • Find the most competitive source • Importing and terms • Customer support • Marketing • Technology Suppliers PROFESSIONAL Customer Bidvest Commercial Culture#6Customer Our Business Suppliers Bidvest Commercial Culture D Efficiency Accuracy Service 1 Bidvest 101#7Customer Our Business Suppliers Bidvest Culture Commercial • • Single most valuable asset Care Work hard for each other Connected • Our colleagues are our friends MENT ENCE 2015#8Bidvest in New Zealand 30 Businesses • 60 000 Square meters of DC • 370 Trucks • 1,500 Staff • 20,000 Products Hamilton Rotorua Whangarei Auckland Tauranga • Large market share • 3m + Transactions/p.a New Plymouth Palmerston North Hawke's Bay Nelson Greymouth • ⚫ 17,000 Customers • 1,000 Suppliers Wanaka Queenstown Timaru Dunedin Invercargill Christchurch Wellington KEY FOODSERVICE ● FRESH ●LOGISTICS BUTCHERY • Inventory days 23 • Receivable days 28 Payable days 50 • Cash generated $32m/p.a#92000 2001 2002 15 Year Performance 2003 2004 2005 2006 2007 Sales 2008 2009 2010 EBIT 2011 2012 2013 2014 2015 Bidvest#10Retail & Oil Caterers Hotels Aged Care Bakeries Export Other Clubs I Manufacturers Market Segmentation Customer Segmentation Restaurant & Cafes Institutions QSR Bidvest#11Market Segmentation Customer Examples Hotels Caterers Institutions QSR Oil Aged Care Accor Compass Hospitals Subways BP Bupa Hilton Spotless Corrections Dominos Caltex LSG Defence Bidvest#12Market Segmentation Other Seafood Bread & Bakery Beverages Non Food Baking Supplies Sauces Condiments Dressing Desserts Oils & Fats Product Segmentation Meat Fruit & Vegetables Dairy Bidvest#13Areas of development • Culture of continual improvement Technology A NAVMAN Wireless Business Solutions Voda NZ 30 Bidvest Direct 16:03 Login ID Password Voda NZ 30 16:03 Bidvest Direct Remember Me ON Login Search Oxder Templates Log APPLIED LOGIC REALTIME Bidvest Direct Bidvest#14Imports Areas of development LATEX & POWDER FREE • Own Brand Spearmint Flavoured Lavender Disinfectant 5lt net 172271 www Caster Sugar 4kg net 172323 Scone Mix 10kg net 172146 www PVC Clingwrap 600m x 33cm 172246 Smart Choice Baked Beans Sweet Potato 1kg net 43209 Smart Choice 2kg net 172560 Peanut Butter Sree Crunchy 1kg 1kg net 172 172551 Vinyl Gloves Disposable Large 100pc 172519 Smart Choice Vege Quiche Savouries 50/ctn 40128 Smart Choice EXCLUSIVE 20 BIDVEST Fruit Cup Fruit Cocktail 4 x 113g net 172543 Smart Choice Apple Sauce 1kg net 172565 Mixed Lamingtons 50/ctn 25 Raspberry, 25 Chocolate 23520 Smart Choice for smart cheh Baking Parchment Paper 120m x 30cm Baking Parchment Paper 120mx30m Peniu odservice silicone coated, nonak, muse baking 172538 172538 Smart Choice for smart chefs Mixed Berries 1kg net 40784 Smart Choice Bidvest#15Areas of development Category Development Specialists Meat Fruit and Vege Packaging Seafood Bidvest#16Areas of development Category Development Specialists Vertical Integration Bidvest#17Areas of development Bidvest Bevest Fodence PH03 688 2123 BIDVest BIDVest Bidvest#18Looking Forward Trends are Positive Foodservice growing • Tourism strong • NZ perfectly located • Good business momentum Bidvest#1935% 30% 25% 20% 15% 10% 5% Looking Forward Sales Growth % 0% 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Year Bidvest#20Looking Forward Trends are Positive Foodservice growing • Tourism strong • NZ perfectly located • Good business momentum Strong 2015/16 Start Bidvest#21Bidvest Thank you