Investor Presentaiton

Woolworths Group Full Year Results 2023 Woolworths Group capital management framework Investment proposition Capital allocation to sustain business and support shareholder returns One of Australia's leading and most trusted brands Leading market position in Food & Everyday Needs Growth opportunities in eCom and adjacencies Defensive characteristics through the cycle Strong cash flow from AUS and NZ businesses Cash from operating activities of $6.0b before interest and tax Strong operating cash flow generation Sustaining capital Full year fully franked dividend per share of 104c, up 13% vs. F22. Payout ratio: 73.6% Typically 70-75% dividend payout (fully franked) Cash realisation ratio of 113% Free cash flow Disciplined capital allocation to manage free cash flow Investment in growth Organic and inorganic growth that exceeds minimum return hurdles Debt reduction Improve credit quality and capacity to invest for the future Return excess capital Special dividends or buy-backs to distribute excess cash and franking credits to shareholders $517m on growth projects Net debt/EBITDA of 2.6x (F22: 3.2x) 20 20 Solid investment grade credit rating

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