Investor Presentaiton

Key messages CLEAR PATHWAY TO EARNINGS IMPROVEMENT AND BALANCE SHEET Confident in delivery of earnings and returns Unwind of one-off UNITED MMALT challenges combined 000 with active management of risk expected to result in more predictable earnings return Improved crop conditions and discipline expected to deliver improved earnings in FY23 Growth capital spend significantly reduced from FY23, improving cash flow Net Debt/EBITDA expected to return to target range of 2.0 - 2.5 times by 30 September 2023 Continued EBITDA uplift in FY23 and FY24 26

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