Heart of the Table - Financial and Strategy Update

Strategy update - Accelerate INGHAM'S Heart of the Table Project Accelerate Automation delivering benefits in improved processing yields and reduced unit costs across major Primary plants program continues with deboning initiatives planned at Te Aroha (New Zealand) and a focus on FP plants further opportunities in process streamlining and plant debottlenecking Labour savings continued to be delivered through improved labour productivity and EBA renegotiation EBA's at major plants closed out and operational, focus on delivering benefits from flexibility provided Network rationalised with volume growth in QLD and SA, improving utilisation and unit costs consequent reduction in NSW and some VIC production Procurement, Turkey and Supply Chain initiatives tracking as planned Further opportunities identified in Farming, Further Processing and Feed > Capital investment program tracking to plan Completed breeder farm Yumali, South Australia Note: The growth benefits from Project Accelerate are designed to allow Ingham's to remain competitive, mitigate inflation costs and contribute to profit growth PAGE // 14

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