Investor Presentaiton

Performance by Product Continued strong performance in Retail Underlying profit movement $ million 35.2 $ 1H FY17 Underlying Profit Product margin 0.7 0.7 2.7 0.3 0.1 8.9 9.4 0.3 39.7 + R $ $ $ Retail Products Agency Services Real Estate Services Financial Services Feed and Processing Services Digital and Technical Costs Interest, tax & NCI 1H FY18 Underlying Profit ☐ Retail upside driven by a combination of organic growth across southern Australia and acquisition growth in horticulture ■ Agency uplift due to strong wool performance and additional sheep volumes from acquisitions, offset by declining cattle prices and volumes Real Estate increase due to acquisitions, offset by decline in farm land property turnover Financial Services boosted by acquisitions and increased productivity across the portfolio Feed and Processing Services downside attributable to higher input costs at the Killara feedlot Costs increased to drive Eight Point Plan initiatives, including acquisitions and organic footprint growth ☐ Lower tax due to normalisation of performance in Australian partnerships Elders 6

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