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Investor Presentaiton

Category overview Milk Based Beverages Market leading brands in a growing category #1 player in the category¹, with a national powerhouse brand in Dare and well- recognised state brands including Farmers Union, Big M, Masters and Dairy Farmers Market share of 49%¹ in a growing category to be supported by investment in brand marketing and innovation Well invested manufacturing capability provides a competitive differentiator Australia has the highest per capita consumption globally in flavoured milk and ready-to-drink coffee² Yoghurt Growing market opportunity with increasing recognition as a 'better for you' category #1 supplier¹ in the growing and profitable yoghurt category, participating with a broad range of national brands Best-in-class yoghurt facility in Morwell to support growth Yoplait, licenced under a Sodima agreement, is a leading brand in the Australian Yoghurt market Strong pipeline of growth initiatives and expansion plans to support premium product formats STRAWBERRY BIG M 000 SUGAR ADDED O SUGAR ADDE CLASSIC CLASSIC dare dare CAPPUCCIN dare CER COFFEE ESPRESSO dare ICED MOCHA Coffee Page 14 1 IRI Aztec - Grocery Channel (May 2020) 2 Euromonitor, Dairy in Australia, 2013-2018 market performance stats STRONG C ICED Coffee STRONG STRONGER ICED Coffee ICED STRONG Coffee STRONG. Yopla Yopla real fruit Strawberry Уорь frast Stranber Уоркі Petit Miam Dairy Farmers CODNESS MILK Farmers Thick & Cream Thick & Creamy KLD STRAWBERRY LIGHT LIGHT FARMERS LIGHT UNION- GREEK STYLE National lagunt FARMENS Natural Pot Set Magent GREEK STYLE A Modded Bega
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