1HCY21 Results Presentation

Produce Segment Avocado Tomato >> As previously noted, sustained higher volumes contributed to significantly lower pricing and category performance. COVID-19 contributed to foodservice sector contraction. Total trays produced were circa +92,000 (+15.2%) versus pcp. Industry volumes are up circa 50% versus pcp. Third party marketed trays were +11.4% versus pcp. Western Australian (WA) avocado crop volumes are strong, further contributing to higher avocado supply and lower prices. Estimated WA production of circa 9 million trays. Export activity has been positive year to date (circa 86,000 as at end August) with volumes already exceeding CY20 export volumes but coming off a low base (CY20 total exported trays 37,000). О О Increased field tomato and truss supply impacted short term pricing across all varieties, particularly truss and to a lesser extent snacking and cocktail. This resulted in a pricing impact in the range of 30% - 60%. Volumes were down due to poorer growing conditions, caused mainly by lower-than-normal light over the summer months and shortfall in sourcing quality truss from external growers. This resulted in a circa 4% reduction in yield (own and third party) versus pcp. Retail and wholesale pricing improved over May and June heading into second half. Forecasting yield improvements over second half and anticipating reduced reliance on external grower volumes going forward once new glasshouse fully comes on line in CY22. 1HCY21 Results Presentation itor 14 AUSTRALIA'S BEST AUSTRALIA'S BEST African Blue Morocco's finest blueberries Only the Finest Berries" Driscoll's lady fingers LOVACADO. Aussie avos. From Costa. MUSH BOOM! TO THE RESCUE Perino 2.PH. Vitor

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