Investor Presentaiton

Borrowing facilities EXPANDED SHORT TERM COMMODITY FINANCING NEEDS WITH TERM DEBT BROADLY UNCHANGED UNITED MMALT $m 168 350 52 52 18 Term debt broadly unchanged 160 Headroom 220 220 ~80 to 90 ~130 to 140 367 FY21 drawn amount Additional term Additional FY22 Drawn Debt debt draw commodity inventory draw Unutilised factoring facility Term Debt 367 367 Pro-forma FY22 FY22 Facility Limit Drawn Debt position ■Commodity Inventory Working Capital CFactoring facility Assuming the factoring arrangement was fully utilised, pro-forma Net Debt/EBITDA at FY22 would have been 3.9x Expanded short term commodity financing needs due to • Higher global barley prices Additional barley accumulation for the new facility in Scotland Factoring arrangement in place ~$80-90m¹ Term debt broadly unchanged Facility headroom remains Covenant amendments received from banks in respect of 30 September 2022 and 31 March 2023 and additional commodity inventory funding capacity to accommodate expanded short-term requirements The Company has no significant near-term refinancing requirements in relation to its long term debt facilities which mature in November 2024 and completed its customary annual refinancing of inventory and working capital facilities in November 2022 1. US$60 million receivables factoring arrangement 13

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