Strategic Financial Overview

Strategy update - Feed Feed Strategy INGHAM'S Heart of the Table Focus on providing self sufficiency for own use, and improving mill utilisation and profitability of third party sales Construction of greenfield feed mill in Murray Bridge (SA) is on track to open in Q1 FY19 > Acquired existing Wacol (QLD) mill during 2H FY18, consistent with strategy of feed self-sufficiency > Well advanced in planning for a new state of the art feedmill in WA, as part of WA expansion > Dairy feed business (NZ) performing well off the back of improved dairy prices > Agreement to sell Mitavite (horse feed business) to Adamantem Capital for $59.5m subject to normal conditions precedent Feedmill - Murray Bridge, South Australia PAGE // 15

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