Investor Presentaiton

Capital expenditure • • CAPEX (¹) ($M) ■Stay-in-business 167 96 236 Growth 282 262 210 184 168 142 DEPRECIATION & AMORTISATION(2) ($M) ■Depreciation Amortisation 153 143 146 142 136 127 29 29 29 24 34 34 97 30 87 55 124 97 103 109 117 118 71 68 72 78 55 42 22 FY14 FY15 FY16 FY17 FY18 FY19 FY14 FY15 FY16 FY17 FY18 FY19 Capex has continued to decline since peaking in FY16; in line with completion of major capital works. Conservative approach to capital expenditure in drought conditions continues, assisted by rationalised ECA Grains network and a disciplined approach to allocation of new capital. FY20 stay-in-business capex expected to be consistent with FY19. FY20 growth capex (predominantly Malt expansion in Scotland) expected to be $95 million to $115 million 1. Excluding acquisitions. 2. Before significant items. GrainCorp 17

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