Strategic Financial Overview

Segment Information - Australia INGHAM'S Heart of the Table $ millions (AUD) Jun-18 Jun-17 Variance % Australia Poultry volumes (kt) 428.5 421.8 6.7 Feed volumes (kt) 367.4 442.0 (74.6) 1.6 (16.9) Revenue 2003.9 2,022.6 (18.7) (0.9) EBITDA 175.2 158.8 16.4 10.3 EBITDA % 8.7% 7.9% 0.8% Fure Fange INGHAM'S Free Range CHICKEN TENDERLOINS with a Wholemeal and Qulnoa Crumb INGHAM'S Free Range CHICKEN BREAST GARLIC BUTTER KIEVS with a Sourdough Crumb Mix Made with chicken tenderloin. Australien free range chicken raised on local farms No artificial colours, flavours or preservatives NET 350g Made with bone-in chicken breast NET Australian free rango chicken raised on local farms No artificial colours or flavours 350g Note: Total Poultry volumes includes core chicken and turkey products in addition to ingredients Summary: Australia > Poultry volume growth excluding ingredients of 2.8% > Improved margin reflecting realisation of efficiency and automation initiatives and benefits of premiumisation Price increases offsetting higher feed and utility costs Retail > Growth in premium product ranges partially offset by a moderation in demand for BBQ birds following the market price increases in 2H (approx. 12% retail price increase) QSR & Food Service New business and demand for fresh product driving volume increases Further Processed segment remains competitive Wholesale & Export > Wholesale volume increases reflect further contractual coverage in this channel and additional opportunities resulting from market rationalisation Third Party Feed sales Note: FY17 pro forma based on 52 weeks. A reconciliation between FY17 pro forma and statutory results is included in the Appendix Reduction in third party feed volume reflects cycling of third party customer loss in Q2 FY17, reduced demand and subsequent closure of Red Lea Chickens in NSW, and a focus on profitability in this segment PAGE // 5

View entire presentation