Investor Presentaiton

Achievements FY14 to FY17 Excellent platform and processes established for further profitable growth Organic Acquisition Cost ✓ Market share gained across retail, livestock and wool markets ✓ Branch benchmarking and improvement plan Implemented consignment stock and agency programs with key retail suppliers ✓ Established internal business development function to evaluate opportunities to grow our business through acquisition Strategic acquisition of specialist horticultural operation to improve capability ✓ Agency footprint expansion into Southern New South Wales ✓ Improved retail supplier trading agreements - increased deferred terms and performance based target rebates ✓ ✓ Continued focus on retail margin improvement through price book management ✓ Recruited high performing retail and livestock staff in Tasmania and New South Wales regions ✓ Optimised Killara efficiency through two year capital improvement program Investment in aligned financial service product providers (Insurance and Stockco) Real Estate expansion through strategic acquisition in Bunbury, Toowoomba, and Riverland regions ✓ Strong acquisition pipeline established ✓ Prioritised growth pipeline with appropriate support mechanisms in place to support implementation and success ✓ Continued efficiency gains through active cost management and improved processes and approaches ✓ Reallocation and reduction of unproductive costs ✓ Established mutually beneficial variable livestock and wool remuneration models ✓ Investment in the development of our leaders and people Exit and reallocation of cost and capital from underperforming Live Export shipping business Elders 26

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