FY16 Results Presentation

Restatement of FY2015 - change in accounting for bearer assets Reported Pro forma Adj. A$m FY15 Restated Pro forma FY15 EBITDA before SGARA 1 71.0 0.4 71.4 Fair value mvt. in biological assets 2 1.4 2.0 3.4 EBITDA 72.4 2.4 74.7 Depreciation and amortisation 3 (18.0) (1.0) (19.0) Impairment losses 4 (1.6) (1.6) EBIT 54.9 (0.3) 54.6 NPAT 38.3 (0.3) 38.0 Reported Statutory Adj. A$m FY15 Restated Statutory FY15 EBITDA before SGARA 1 59.9 0.3 60.3 Fair value mvt. in biological assets 2 (0.3) 3.6 3.4 EBITDA 59.6 3.9 63.7 Depreciation and amortisation 3 (18.5) (1.1) (19.6) Impairment losses 4 (15.7) (3.2) (18.9) EBIT 26.0 (0.4) 25.6 NPAT 4.6 (0.3) 4.3 costa fresh is our passion The change in the accounting standard has the following overall impact: Planting and replanting costs are capitalised, with the capitalised value depreciated over the plant's useful life Previously costs were expensed with asset values recognised through a fair value adjustment for biological assets at each balance date 1. EBITDA before SGARA: replanting costs previously expensed now capitalised 2. Fair value movement in biological assets: in FY15 the carrying value of grape vines was impaired through a charge to line. This is reversed and replaced with an impairment charge per item 4. 3. Depreciation: additional depreciation on bearer plants now capitalised 4. Impairment losses: reduction in the carrying value of grape vines (previously taken up as a movement in the fair value of biological assets) 26

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