Strategic rationale for the acquisitions

Important Notices Disclaimer The Placement is underwritten by the joint lead managers and underwriters (Joint Lead Managers). A summary of the key terms of the underwriting agreement between Metcash and the Joint Lead Managers is provided in Appendix D. To the maximum extent permitted by law, Metcash and the Joint Lead Managers and their respective related bodies corporate and affiliates, and their respective officers, directors, employees, agents and advisers: (i) disclaim all responsibility and liability (including, without limitation, any liability arising from fault, negligence or negligent misstatement) for any direct, indirect, consequential or contingent loss or damage arising from this Presentation or reliance on anything contained in or omitted from it or otherwise arising in connection with this Presentation; (ii) disclaim any obligations or undertaking to release any updates or revision to the information in this Presentation to reflect any change in expectations or assumptions; and (iii) do not make any representation or warranty, express or implied, as to the accuracy, reliability, or completeness of the information in this Presentation or that this Presentation contains all material information about Metcash or that a prospective investor or purchaser may require in evaluating a possible investment in Metcash or acquisition of shares in Metcash, or likelihood of fulfilment of any forward-looking statement or any event or results expressed or implied in any forward-looking statement. You acknowledge and agree that determination of eligibility of investors for the purposes of the Placement is determined by reference to a number of matters, including legal requirements and the discretion of Metcash and the Joint Lead Managers and each of Metcash and the Joint Lead Managers disclaim any duty or liability (including for negligence) in respect of the exercise or otherwise of that discretion, to the maximum extent permitted by law. Each Joint Lead Manager, together with its respective affiliates and related bodies corporate, is a full service financial institution engaged in various activities, which may include trading, financing, financial advisory, investment management, investment research, principal investment, hedging, market making, margin lending, brokerage and other financial and non-financial activities and services including for which they have received or may receive customary fees and expenses. Each Joint Lead Manager (and/or its respective affiliates and related bodies corporate) have performed, and may perform, other financial or advisory services for Metcash (including advisory services in respect of the Acquisitions), and/or may have other interests in or relationships with Metcash or other entities mentioned in this Presentation for which they have received or may receive customary fees and expenses. In the ordinary course of its various business activities, each Joint Lead Manager (and/or its respective affiliates and related bodies corporate) may purchase, sell or hold a broad array of investments and actively trade or effect transactions in equity, debt and other securities, derivatives, loans, commodities, currencies, credit default swaps and/or other financial instruments for their own account and for the accounts of their customers, and such investment and trading activities may involve or relate to assets, securities and/or instruments of Metcash and/or persons and entities with relationships with Metcash. Each Joint Lead Manager and/or its respective related bodies corporate and affiliates, or their respective officers, directors, employees, agents and advisers may, from time to time, have long or short positions in, buy or sell (on a principal basis or otherwise), and may act as market makers in, the securities or derivatives, or serve as a director of any entities mentioned in this Presentation. Each Joint Lead Manager (and/or its respective related bodies corporate and affiliates) currently hold, and may continue to hold, equity, debt and/or related derivative securities of Metcash. Contact details For additional information contact: Steve Ashe Head of Corporate Affairs & Investor Relations Phone: Email: +61 408 164 011 [email protected] Merrin Hodge Investor Relations Manager Phone: Email: Metcash +61 429 235 104 [email protected] NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES 5

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